![Crypto Terms Glossary: What is Base Currency? Crypto Terms Glossary: What is Base Currency?](/img/10/113/what-is-base-currency-sm.webp)
A base currency is the currency against which an exchange rate is quoted. It is the first currency referenced in a currency pair. In the BTC/USD currency pair, which references the price of bitcoin (BTC) in terms of USD, the base currency would be BTC, and the quoted currency would be USD.
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