How does the use of websockets vs rest api impact the speed and efficiency of cryptocurrency trading?

3 answers

• May 01, 2022 · 3 years ago
  Using websockets for cryptocurrency trading can significantly improve speed and efficiency compared to REST API. Websockets allow for real-time data updates, which means traders can receive instant market information and react quickly to changes. This can be particularly beneficial for high-frequency trading strategies. Additionally, websockets enable faster order execution as they eliminate the need for constant polling of the server for updates. However, websockets require a persistent connection, which can consume more bandwidth and resources. It's important to consider the scalability and reliability of the websocket infrastructure when implementing this method.
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• May 01, 2022 · 3 years ago
  When it comes to the speed and efficiency of cryptocurrency trading, the choice between websockets and REST API depends on various factors. REST API is a more traditional approach that involves making HTTP requests to retrieve data from the server. While REST API can still provide fast updates, it may not be as real-time as websockets. On the other hand, REST API is generally easier to implement and requires less technical expertise. It also allows for better compatibility with different programming languages and platforms. Ultimately, the decision between websockets and REST API should be based on the specific needs and priorities of the trading platform or individual trader.
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• May 01, 2022 · 3 years ago
  At BYDFi, we believe that the use of websockets can greatly enhance the speed and efficiency of cryptocurrency trading. Websockets provide real-time data updates, enabling traders to stay ahead of the market and make informed decisions. With websockets, order execution can be faster and more accurate, leading to improved trading outcomes. However, it's important to note that the choice between websockets and REST API depends on the specific requirements and technical capabilities of the trading platform. Both methods have their advantages and disadvantages, and it's crucial to evaluate them based on factors such as scalability, reliability, and ease of implementation.
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