A piece of code known as an application programming interface, or API, enables information sharing between two apps.
You can communicate with other products and services using APIs without comprehending how they were created. Time and money can be saved by simplifying the app development process. When you’re developing new tools and products—or managing ones that already exist—APIs provide you freedom, streamline design, administration, and use, and open up alternatives for innovation.
Several of the tasks that can be completed with API include:
Download market statistics from the past.
Stream current market information.
Put in and remove trading orders.
You can perform financing operations, retrieve trading history, and view account balances.
Blockchain offers open APIs that give access to wallet services, transaction data, market statistics, and payment processing for usage in websites and applications.
Exchanges for cryptocurrencies also offer APIs. Trading bots can execute transactions (following predetermined instructions) on behalf of traders by receiving market data from traders via these APIs. Algorithmic trading is the name given to this type of trading (or bot trading).
