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The base currency is the currency that is being quoted. On this page, the base currency is BitTorrent (BITTORRENT). The base currency indicates how much of the quote currency (or counter currency) is required to get one unit of the base currency.
On cryptocurrency exchanges, asset prices are quoted as currency pairs. They are usually written as XXX/YYY (e.g. BITTORRENT/ETH) or XXXYYY (e.g. BITTORRENTETH). The first currency in this pair is the base currency (sometimes called the transaction currency). Often, the base currency is the accounting currency used to represent profits and losses for trades happening across this pair. The base currency is typically the currency being traded, and it is quoted or priced in the quote currency, which is the other part of the trading pair.
The quote currency is the currency that is used as a reference. It is always the second currency quoted in a currency pair (i.e. base/quote or BITTORRENT/ETH). On this page, the quote currency is Ethereum (ETH).The price of a trading pair is always displayed in the quote currency.
On cryptocurrency exchanges, the quote currency is almost always Bitcoin, Ethereum, a fiat/governmental currency, or a stablecoin (such as Tether or USDC). The quote currency is often referred to as the "secondary currency" or "counter currency."
Because traders are concurrently selling and buying cryptoassets, quotes are displayed in pairs. For example, when an investor trades across the ETH/BTC pair, they are -- at the exact same moment -- buying Ethereum and selling Bitcoin (or buying Bitcoin and selling Ethereum).
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