The crypto market is very versatile, making cryptocurrency trading an exciting yet intricate process. To maximize their profits, traders have to make an effective strategy and find ways to keep track of the market’s price changes, without spending too much of their time following the charts.
To achieve better results and remain efficient, professional traders utilize a variety of tools that help them attain their targeted profit goals. An increasing number of traders use APIs or automated trading platforms, as some of the most beneficial tools that help with maximizing profits in crypto trading without too much effort.
Be careful, however, as there is a difference between crypto API and automated trading platforms for cryptocurrencies.
Namely, automation trading is the process that not only makes it possible for traders to reduce the time spent in manually executing their strategies, but it also decreases the chances of facing substantial losses.
By applying automated trading in their daily routine, traders stand a much better chance for profiting and keeping a steady growth.
On the other hand, cryptocurrency APIs are often used by traders to gather price data from crypto exchanges and execute orders on exchanges, among other things.
Therefore, using an automated service is not entirely the same as using an API for cryptocurrency. However, you can integrate an API with your existing automation strategy.
We know that all of these terms sound overly complicated, and can be a little intimidating even for professional crypto traders. However, we are here to help you in your attempts to understand how API automation works, and what it can do to your trading crypto strategy.
Although it might appear as complicated, API automated trading is an easy concept to grasp, and you will excel in it in no time.
For starters, let’s get the question “What is API cryptocurrency?” out of the way. API stands for Application Programming Interface and, as the name suggests, represents an interface that helps two separate applications connect and communicate.
In other words, it’s a messenger that receives a request and then shares the message with the system telling it what you want, and what it needs to do. The advanced yet simplistic approach is used in many forms surrounding you, and you might not even be aware of it. For example, API is used by booking sites and airlines.
Cryptocurrency APIs, however, are applied to create a specific trading strategy and to automate it. Usually, traders use crypto API to connect their customized trading strategy to a cryptocurrency exchange API and start trading.
By now, you know that API is not as complex as it sounds at first. However, there are a lot of aspects regarding cryptocurrency API trading that you need to grasp if you want to adapt it.
Before we continue with crypto APIs, let’s take a look at what we are dealing with, first. Overall, there are different types of application programming interfaces, and the most common are the following ones:
Simply put, the best crypto API is the one that will be efficient, fast, and fitting to your needs. There are different kinds of bitcoin trading APIs, some of which are only applicable for a limited amount of actions.
However, the best crypto currency API is the one that will resonate with your unique needs. Keep in mind that even if you have the best API for cryptocurrency, that does not mean you will earn money without the possibility of losses.
Application programming interfaces are used to make trading easier, not to make it more successful.
APIs are an excellent solution for traders who want to have a slight advantage in the market. With the growing number of expert crypto traders, having another alternative can be a real game-changer.
Application programming interfaces are a valuable asset for every trader and they confirm the need for automation in trading. Often, as already mentioned before, APIs can be incorporated in automated trading strategies, and several exchanges allow their customers to use their crypto APIs and sync to other crypto trading platforms for better chances for profit.
Considering that APIs allow you to interact with a trading system through an exchange, they are quite useful for expert crypto traders who need real-time pricing data and execute trades through algorithms.
Before APIs existed, traders had to keep an eye on the charts while at the same time place trades separately with their broker. Needless to say, this is time-consuming and barely efficient.
Nowadays, APIs can be incorporated on automated trading platforms, and allow crypto traders to fully enjoy the benefits of using a computer that can do most of the hard manual work they once had to do.
Many traders with the right knowledge can also make their automated trading systems through programming their strategies and program APIs.
The second group of traders, however, use automated trading platforms that require access to the broker’s API crypto. Then, without the need for personally programming strategies, the trader can start placing trades.
If you want to build your automated system, that would be excellent.
However, if you don’t want to go through all that trouble, Superorder is an equally good alternative. We provide for one of the best crypto exchange API connections.
Our platform provides traders with simplicity, and having to deal with things you don’t quite understand won’t be necessary.
The only thing you need to do is register on Superorder, sign in to your crypto exchange API and generate the API key, which you’ll then have to paste to your interface.
There is no need for programming or expensive software developers whatsoever.
It’s simple, efficient, and effective.