What is the base/quote currency? | GSMG.io Help Center

What is the base/quote currency?

Explaining the notation and function of a base and quote currency in a trading pair

Written by GSMG.io Helpdesk | Support

Updated over a week ago

The "base" currency is the asset that is traded on a market and the "quote" currency is used to pay for it. Hence, the price of the base currency is "quoted" in the quote currency.

At GSMG we use the most commonly used "format": BASE/QUOTE.

Example

In the pair XRP/USDT we call XRP the "base" currency and USDT the "quote" currency.