What is the difference between a public and private bitcoin trading API?

3 answers

• Dec 19, 2021 · 3 years ago
  A public bitcoin trading API is accessible to anyone who wants to interact with it. It provides basic functionalities such as retrieving market data, placing orders, and checking account balances. Public APIs are usually used by individual traders, developers, and third-party trading platforms. On the other hand, a private bitcoin trading API is exclusive to the account holder and requires authentication to access. It offers advanced functionalities like managing multiple accounts, withdrawing funds, and setting up trading strategies. Private APIs are commonly used by institutional traders, high-frequency trading firms, and cryptocurrency exchanges.
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• Dec 19, 2021 · 3 years ago
  Public APIs are like the open doors of a cryptocurrency exchange, allowing anyone to come in and interact with the exchange's trading system. They are great for beginners who want to experiment with trading or developers who want to build their own trading bots. Private APIs, on the other hand, are like the secret passages that only a select few have access to. They provide more control and flexibility, allowing professional traders to execute complex trading strategies and manage large volumes of trades.
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• Dec 19, 2021 · 3 years ago
  At BYDFi, we offer both public and private bitcoin trading APIs. Our public API provides real-time market data, order book information, and trade history. It's perfect for developers who want to build applications that require up-to-date market information. Our private API, on the other hand, offers additional features such as account management, order placement, and trade execution. It's designed for traders who want to automate their trading strategies or integrate our platform into their existing systems. With BYDFi's APIs, you can take advantage of the different functionalities based on your trading needs.
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