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Does Alpaca support Crypto Coin Pair Trading?

Yes! With the introduction of Alpaca’s Coin Pair Trading, you can now buy a crypto asset with another crypto asset. Alpaca users can now trade with supported coin pairs of Bitcoin (BTC),Tether (USDT), and USD Coin (USDC).

What are the supported coins pairs?

For the initial launch of Alpaca Coin Pair Trading, we are launching with BTC and USDT as the base currencies. Below, are the list of supported Coin Pairs:

BTC pairs (BCH, ETH, LTC, UNI)
USDT pairs (AAVE, BCH, BTC, DOGE, ETH, LINK, LTC, SUSHI, UNI, YFI)
USDC pairs (AAVE, AVAX, BAT, BCH, BTC, CRV, DOGE, DOT, ETH, GRT, LINK, LTC, MKR, SHIB, SUSHI, UNI, XTZ, YFI)
USD pairs (AAVE, AVAX, BAT, BCH, BTC, CRV, DOGE, DOT, ETH, GRT, LINK, LTC, MKR, SHIB, SUSHI, UNI, USDC, USDT, XTZ, YFI)

How to Coin Pair Trade on Alpaca?

Traders will be able to place coin pair orders on both the Alpaca Dashboard and via the API.

You will now be able to search and place orders for assets such as ETH/BTC or ETH/USDT.

To begin Coin Pair Trading, please follow the steps below:

Simply search for the asset you would like to coin pair trade with.
Input the quantity of crypto asset you would like to purchase (in this example we are buying 1.4 ETH in exchange for 0.08 BTC).
Click Review Order, and done!

How are fees applied to Coin Pairs trades?

With Coin Pair trading, Alpaca traders will be charged fees on the credited side of the coin.

For instance, the order.fees field will denote the fees denominated in accordance to the pair symbol rather than USD.
Some examples:

Buy ETH/BTC, you receive ETH, the fee is denominated in ETH.

Sell ETH/BTC, you receive BTC, the fee is denominated in BTC.

Buy ETH/USD, you receive ETH, the fee is denominated in ETH.

Sell ETH/USD, you receive USD, the fee is denominated in USD.

What are the specific order limitations for a given crypto pair?

Minimum Order Size: The minimum quantity value that is accepted in an order. This value is calculated dynamically based on a $1 USD notional equivalent minimum, based on the last close price of the relevant asset(s). The maximum decimal places accepted is 9 i.e 0.000000001 for all crypto assets.

For USD pairs, the minimum order size calculation is: 1/USD asset price.

For BTC, ETH and USDT pairs, the minimum order size calculation is: 1/(base asset price/quote asset price).

Min_trade_increment: The minimum quantity allowed to be added to the min_order_size. E.g. if 0.1 we accept an order for 1.1 but we won’t accept 0.9 because it’s under the min_order_size. The maximum decimal places accepted are 9 i.e 0.000000001 for all crypto assets.

Price Increment: The minimum notional value that is accepted in an order. Similar to Min Order Size but for notional orders. The maximum decimal places accepted are 9 i.e 0.000000001 for all crypto assets.

Why am I seeing BTCUSD after I bought BTC/USD?

The new symbology is not present in the Positions list.

The Position list shows BTCUSD instead of BTC/USD to denote you hold BTC asset, while you submit an order to buy BTC/USD to indicate you are exchanging USD with BTC. BTCUSD is an asset symbol and BTC/USD is a tradable pair.

Is Coin Pairs enabled for Paper Trading?

Yes! Coin Pair trading is available for all paper trading accounts too.

Is Coin Pair Trading available for Broker API?

Yes, Coin pair trading is available for broker API partners, for more info, visit this page.

What Happens if I Submitted an Order with Buy BTCUSD?

If you submit an order with buy BTCUSD, the API backend will translate it immediately to a buy BTC/USD

Does TradingView Integration Support Coin Pair Trading?

Yes it does! TradingView symbology denotes an “ETHBTC” style i.e without a slash, but Alpaca correctly recognizes this symbology.

Please note that this article is for informational purposes only. The example above is for illustrative purposes only. Actual crypto prices may vary depending on the market price at that particular time. Alpaca Crypto LLC does not recommend any specific cryptocurrencies.

Cryptocurrency is highly speculative in nature, involves a high degree of risks, such as volatile market price swings, market manipulation, flash crashes, and cybersecurity risks. Cryptocurrency is not regulated or is lightly regulated in most countries. Cryptocurrency trading can lead to large, immediate and permanent loss of financial value. You should have appropriate knowledge and experience before engaging in cryptocurrency trading. For additional information please click here.

Cryptocurrency services are made available by Alpaca Crypto LLC ("Alpaca Crypto"), a FinCEN registered money services business (NMLS # 2160858), and a wholly-owned subsidiary of AlpacaDB, Inc. Alpaca Crypto is not a member of SIPC or FINRA. Cryptocurrencies are not stocks and your cryptocurrency investments are not protected by either FDIC or SIPC. Please see the Disclosure Library for more information.

This is not an offer, solicitation of an offer, or advice to buy or sell cryptocurrencies, or open a cryptocurrency account in any jurisdiction where Alpaca Crypto is not registered or licensed, as applicable.

Disclosures

Brokerage services are provided by Alpaca Securities, member FINRA / SIPC, a wholly-owned subsidiary of AlpacaDB, Inc.

Technology and services are offered by AlpacaDB, Inc.

Brokerage services are provided to customers who can write automated investment code and self-direct their own investments. Alpaca brokerage services are only provided to customers who agree to electronically sign agreements and agree to receive messages, confirmations, and statements electronically. Is Alpaca right for me?

This is not an offer, solicitation of an offer, or advice to buy or sell securities or cryptocurrencies, or open a brokerage account or cryptocurrency account in any jurisdiction where Alpaca Securities or Alpaca Crypto respectively, are not registered or licensed, as applicable.

The Paper Trading API is offered by AlpacaDB, Inc. and does not require real money or permit a user to transact in real securities in the market. Providing use of the Paper Trading API is not an offer or solicitation to buy or sell securities, securities derivative or futures products of any kind, or any type of trading or investment advice, recommendation or strategy, given or in any manner endorsed by AlpacaDB, Inc. or any AlpacaDB, Inc. affiliate and the information made available through the Paper Trading API is not an offer or solicitation of any kind in any jurisdiction where AlpacaDB, Inc. or any AlpacaDB, Inc. affiliate (collectively, "Alpaca") is not authorized to do business.

You should know that the use or granting of any third party access to your account information or place transactions in your account at your direction is solely at your risk. Alpaca does not warrant against loss of use or any direct, indirect or consequential damages or losses to you caused by your assent, expressed or implied, to a third party accessing your account or information, including access provided through any other third party apps, systems, or sites.

Market prices, data and other information available through Alpaca are not warranted as to completeness or accuracy and are subject to change without notice.System response and account access times may vary due to a variety of factors, including trading volumes, market conditions, system performance, and other factors.A more complete description of the impact these factors may have can be found in our risks of automated trading systems section.

All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against loss, in a down market. There is always the potential of losing money when you invest in securities, or other financial products. Investors should consider their investment objectives and risks carefully before investing.

There are risks unique to automated trading algorithms that you should know about and plan for. You should setup a method or system of continuous monitoring or alerting to let you know if there is a mechanical failure, such as connectivity issues, power loss, a computer crash, or system quirk. You should also monitor for instances where your automated trading system experiences anomalies that could result in errant, missing, or duplicated orders. A more complete description of these and other risks can be found in our FAQ section.

Conditional orders may have increased risk as a result of their reliance on trigger processing, market data, and other internal and external systems. Such orders are not sent to the market until specified conditions are met. During that time, issues such as system outages with downstream technologies or third parties may occur. Conditional orders triggering near the market close may fail to execute that day. Furthermore, our executing partner may impose controls on conditional orders to limit erroneous trades triggering downstream orders. Alpaca Securities may not always be made aware of such changes to external controls immediately, which may lead to some conditional orders not being executed. As such, it is important to monitor conditional orders for reasonability. Conditional orders are “Not Held” orders whose execution instructions are on a best efforts basis upon being triggered. Furthermore, conditional orders may be subject to the increased risks of stop orders and market orders outlined above. Given the increased potential risk of using conditional orders, the client agrees that Alpaca Securities cannot be held responsible for losses, damages, or missed opportunity costs associated with market data problems, systems issues, and user error, among other factors. By using conditional orders the client understands and accepts the risks outlined above. Alpaca Securities encourages leveraging the use of Paper accounts to become more comfortable with the intricacies associated with these orders.

ETFs can entail risks similar to direct stock ownership, including market, sector, or industry risks. Some ETFs may involve international risk, currency risk, commodity risk, and interest rate risk. Trading prices may not reflect the net asset value of the underlying securities.

All accounts are opened as limited purpose margin accounts. You should know that margin trading involves interest charges and risks, including the potential to lose more than deposited or the need to deposit additional collateral in a falling market. Before using margin, customers must determine whether this type of trading strategy is right for them given their specific investment objectives, experience, risk tolerance, and financial situation. For more information please see Alpaca's Margin Disclosure Statement and Margin Agreement. These disclosures contain information on Alpaca Securities's lending policies, interest charges, and the risks associated with margin accounts.

Commission-Free trading means that there are no commission charges for Alpaca Securities self-directed individual brokerage accounts that trade U.S. listed securities through an API. Relevant regulatory fees may apply.

Commission free trading is available for Alpaca's retail customers. Alpaca reserves the right to charge additional fees if it is determined that orders flow is non-retail in nature.

Cryptocurrency services are made available by Alpaca Crypto, a FinCEN registered money services business (NMLS # 2160858), and a wholly-owned subsidiary of AlpacaDB, Inc. Alpaca Crypto is not a member of SIPC or FINRA. Cryptocurrencies are not stocks and your cryptocurrency investments are not protected by either FDIC or SIPC. Please see the Disclosure Library for more information.