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Binance Api Review
Binance Api
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Binance is one of the most popular crypto-to-crypto exchanges. The exchange was launched in 2017 and development was funded via an ICO. The Binance API is available on GitHub. There is extensive documentation on the GitHub page explaining how the API works. It can be used by users who want to create exchange services and applications. It can also be used by traders when programming trading algorithms and bots. For users who building trading applications, they can program the applications to put in certain orders when certain parameters are met. The API returns financial data in JavaScript Object Notation (JSON) files or arrays.

For users to create an API, they will need to go to the Admin section of their account and click Enable. Users can then create a new key and will be required to authenticate it through SMS or Google Authenticator. Users will be then provided with their secret key for the API.

Binance's API is still under development. It is in beta stage. This is understandable given that the exchange was launched in 2017. However, the API is still widely used. There are over 850 forks on the GitHub page. Binance also has a Telegram group to help with users who face issues with using the API. Users have noted that infrastructures which are developed for multiple exchanges may face issues when applied to Binance due to a difference in parameters.

Pros & Cons
  • One of the most popular exchanges and has thorough documentation on GitHub relating to the API
  • Straightforward process for users to create an API
  • Telegram group available to support users
  • API is still under development and in beta stage
  • Users have noted that infrastructure developed for multiple exchanges may face issues when applied to Binance