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Tick size

Tick size is the smallest incremental price movement of a trading instrument set by each exchange individually and displayed in a quote currency of a pair (BTC/USD, USD is a quote currency expressing how much one bitcoin is worth).

For example, if a futures exchange set a tick size of 0.1 USD (ten cents) for the BTC/USD pair, the price at $5,000 can go to either $5,000.1 or $4,999.9, it cannot move to $5,000.05 or $4,999.95.