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Which API protocols should I use to connect my trading bot to a cryptocurrency market?

avatarNooneDec 25, 2021 · 3 years ago1 answers

I am developing a trading bot for the cryptocurrency market and I want to connect it to an exchange using API protocols. Which API protocols should I consider using for this purpose? What are the advantages and disadvantages of each protocol?

Which API protocols should I use to connect my trading bot to a cryptocurrency market?
Cryptocurrency
Trading Bot
API Protocols

1 answers

  • avatarDec 25, 2021 · 3 years ago
    Overall, the choice of API protocol for your trading bot depends on your specific requirements and trading strategy. REST is a good choice for simple trading strategies and basic market data retrieval. WebSocket is ideal for real-time data streaming and high-frequency trading. If you are looking for advanced functionalities and high-performance trading, you may consider using the BYDFi API or FIX API protocols. It is recommended to thoroughly research and test different API protocols before making a decision to ensure compatibility and optimal performance for your trading bot.

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