What advantages do websockets offer over APIs when it comes to trading cryptocurrencies?

3 answers

• Clau UlloaJan 01, 2022 · 4 years ago
  Sure! Websockets offer several advantages over APIs when it comes to trading cryptocurrencies. Firstly, websockets provide real-time data updates, allowing traders to receive instant market information without the need for constant API requests. This can be especially beneficial in fast-paced cryptocurrency markets where prices can change rapidly. Additionally, websockets allow for bi-directional communication, enabling traders to not only receive data but also send orders and execute trades directly through the websocket connection. This can help reduce latency and improve trading efficiency. Overall, websockets offer a more efficient and responsive trading experience compared to traditional APIs.
  707

  354
• daniel yuenOct 06, 2022 · 3 years ago
  Websockets are awesome for trading cryptocurrencies! Unlike APIs, websockets provide real-time data updates, which means you can get the latest market information without constantly making API requests. It's like having a direct line to the market, allowing you to react quickly to price changes and make informed trading decisions. Plus, websockets support bi-directional communication, so you can not only receive data but also send orders and execute trades directly through the websocket connection. It's like having a superpower in the crypto world! So, if you want to stay ahead of the game and trade like a pro, websockets are definitely the way to go.
  659

  220
• NPSTANov 29, 2020 · 5 years ago
  When it comes to trading cryptocurrencies, websockets have a clear advantage over APIs. With websockets, you can receive real-time data updates, allowing you to stay on top of market movements without the need for constant API requests. This can be a game-changer in the fast-paced world of crypto trading, where every second counts. Plus, websockets support bi-directional communication, meaning you can not only receive data but also send orders and execute trades directly through the websocket connection. It's like having a direct line to the market, giving you an edge over other traders. At BYDFi, we leverage the power of websockets to provide our users with a seamless and efficient trading experience.
  711

  178