What are the advantages of using websockets over traditional HTTP requests in the cryptocurrency market?

3 answers

• dorsa daneshMay 03, 2021 · 4 years ago
  Websockets offer real-time data streaming, allowing traders to receive instantaneous updates on market prices, order book changes, and trade executions. This enables faster decision-making and execution of trades, giving traders a competitive edge in the cryptocurrency market. Additionally, websockets provide a more efficient and lightweight communication protocol compared to traditional HTTP requests, reducing network latency and improving overall performance. With websockets, traders can also subscribe to specific data channels, receiving only the relevant information they need, which helps to conserve bandwidth and optimize data retrieval.
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• Cross McMillanJan 02, 2023 · 3 years ago
  Using websockets in the cryptocurrency market is like having a direct line to the market's pulse. It allows traders to stay updated with real-time information, such as price movements and order book updates, without the need to constantly send requests to the server. This not only saves bandwidth but also reduces the load on the server, making it more scalable for high-frequency trading. Moreover, websockets enable bidirectional communication, allowing traders to send orders and receive confirmations instantly. This ensures faster trade execution and minimizes the risk of slippage, which is crucial in the fast-paced cryptocurrency market.
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• Ernest CheaJan 09, 2023 · 3 years ago
  At BYDFi, we understand the importance of utilizing websockets in the cryptocurrency market. Websockets provide a seamless and efficient way to access real-time market data, which is crucial for making informed trading decisions. By using websockets, traders can receive live updates on price changes, order book updates, and trade executions, enabling them to react quickly to market movements. This gives traders a competitive advantage and helps them stay ahead in the dynamic cryptocurrency market. Additionally, websockets offer a more reliable and scalable solution compared to traditional HTTP requests, ensuring a smooth trading experience for our users.
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