How does web socket API improve real-time data updates for cryptocurrency trading?

3 answers

• Bharath VijayendraJan 07, 2024 · 2 years ago
  Certainly! The web socket API is a communication protocol that allows for real-time data streaming between a server and a client. In the context of cryptocurrency trading, this API enables traders to receive instant updates on market prices, order book changes, and trade executions. By using web sockets, traders can stay up-to-date with the latest market movements and make informed trading decisions without the need for constant manual refreshing of the data. It greatly improves the speed and efficiency of data updates, providing a seamless trading experience.
  566

  283
• Gross BurtonJun 24, 2020 · 6 years ago
  The web socket API is a game-changer for cryptocurrency trading! It revolutionizes the way traders receive real-time data updates. With traditional methods, such as REST APIs, traders had to repeatedly send requests to the server to fetch the latest data. This approach was not only time-consuming but also put a strain on server resources. However, with web sockets, the server can push data updates to the client whenever there is a change, eliminating the need for frequent requests. This ensures that traders always have the most up-to-date information at their fingertips, enabling them to react quickly to market movements and make timely trading decisions.
  663

  221
• Abhishek ThakurJan 27, 2023 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, leverages the power of the web socket API to provide its users with real-time data updates. With BYDFi's web socket integration, traders can enjoy seamless and instant updates on market prices, order book changes, and trade executions. The web socket API enhances the overall trading experience by eliminating delays and providing accurate and timely information. Traders can rely on BYDFi's robust infrastructure to stay ahead of the market and execute their trading strategies effectively.
  533

  134