API is an acronym for Application Programming Interface and allows the interaction between two systems that have no connection to each other.
When speaking about cryptocurrency trading, the API enables you to use the chosen exchange programmatically and to get the needed market data, to make trades and to manage your account.
CryptoArbi works with multiple exchanges, so our user could find the best trading opportunity. Let’s have a look at them and their specifications.
Binance is considered to be one of the largest crypto exchanges, based on their trading volume. It was originally based in Hong Kong, founded by Changpeng Zhao.
Binance API gives traders the opportunity to trade on the platform with the help of third-party applications. Those third-party applications can be used also for creating and canceling orders.
Binance offers low trading fees, no need for minimum deposit and no inactivity fees. It supports more than 400 different coins, and it is extremely easy to open an account.
Currently, Binance is not available in the US, but US users can use a partner site, which uses a matching engine and wallet technologies.
HitBTC was founded by Dave Merrill, based in Estonia. It has been operating since 2013 and is focused on the Estonian and the European market.
HitBTC comes with an intuitive interface, strong security and supports more than 50 cryptocurrencies. You can create an anonymous account and choose from different payment options.
The platform supports a wide range of order type, as well as different trading pairs.
For novices, there is a demo version, allowing them to test the platform and the API, without compromising money.
Kraken is a small cryptocurrency exchange, based in the US and available since 2011. Compared to Binance, for example, it has a small client base and trade volume.
Kraken supports 56 different coins and comes with no need for a minimum deposit. It offers a huge product selection and low buying fees.
The platform is available worldwide with only a few exceptions. Users can open a personal or a business account, although there is only one type of retail profile. The more personal info you add, the more features you get.
While bittrex is a new crypto exchange on the market, it has found its place as one of the biggest multi-coin exchanges. Bittrex is based in the US and is designed for users who need fast trade execution, safe digital wallets and the best security practices.
The platform offers a fast and easy sign up and verifications and low trading fees for high-volume traders.
Bittrex is a good option for beginners at trading, who haven’t defined their goals. It is also useful for professional arbitrageurs, but not for seasoned bitcoin day traders.
Bittrex is a good choice for a long-term investment. It has a focus on security, which makes it one of the key competitors on the market today.
Bitfinex was opened in 2012 and is based in Hong Kong. It was on the top 3 of Bitcoin exchanges for some time. Although this has changed in 2016, after a huge amount of coins is stolen from the exchange, Bitfinex managed to recover from the hack.
Today the platform offers trade markets for over 160 cryptocurrencies, including Ethereum, Dash, Monero and other coins. It is highly trusted, comes with unlimited withdrawal and anonymity possibility.
Bitfinex is available in most parts of the world but is banned in countries like India, China, Bangladesh and a few others.
It is a good option for anyone who is looking for a secure trading platform and professional features. While it has been hacked before, its security has been upgraded. The trading volumes at Bitfinex have been increasing, which is a clear sign that people are beginning to believe in the platform and its advantages.
Click Here, to find out how you can get an API key from each of the exchanges.
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