What are the advantages of using websockets vs rest for cryptocurrency trading?

3 answers

• Dec 17, 2021 · 3 years ago
  Using websockets for cryptocurrency trading has several advantages over REST APIs. Firstly, websockets provide real-time data updates, allowing traders to receive instant price updates and react quickly to market changes. This is crucial in the fast-paced cryptocurrency market where prices can fluctuate rapidly. Additionally, websockets allow for bi-directional communication, enabling traders to send orders and receive order confirmations in real-time. This improves the speed and efficiency of trading, reducing latency and ensuring timely execution of orders. Furthermore, websockets are more bandwidth-efficient compared to REST APIs as they maintain a persistent connection, eliminating the need for frequent HTTP requests. This results in lower data usage and faster response times. Overall, using websockets for cryptocurrency trading offers a more responsive and efficient trading experience.
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• Dec 17, 2021 · 3 years ago
  When it comes to cryptocurrency trading, websockets have a clear advantage over REST APIs. With websockets, traders can receive real-time updates on market data, including price changes, order book updates, and trade executions. This allows traders to react quickly to market movements and make informed trading decisions. In contrast, REST APIs require traders to constantly send HTTP requests to retrieve the latest data, which can introduce delays and increase the risk of missing out on profitable opportunities. Additionally, websockets enable traders to stream data continuously without the need for repeated requests, reducing network overhead and improving overall performance. This makes websockets particularly well-suited for high-frequency trading strategies. Overall, the advantages of using websockets for cryptocurrency trading include real-time data updates, faster response times, and improved trading efficiency.
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• Dec 17, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, recognizes the advantages of using websockets for cryptocurrency trading. With websockets, BYDFi provides its traders with real-time market data, allowing them to stay up-to-date with the latest price movements and make informed trading decisions. The use of websockets also enables BYDFi to offer faster order execution and improved trading efficiency. Traders on BYDFi can benefit from the real-time data updates and bi-directional communication offered by websockets, ensuring a seamless and responsive trading experience. By leveraging websockets, BYDFi aims to provide its users with a competitive edge in the cryptocurrency market.
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