API or Application Programming Interface is a set of rules and protocols that a program uses to interact with another program. So it includes functions and methods, and is present everywhere in financial systems, especially cryptocurrency, whether one realizes it or not. This is because most of the transactions that happen in this niche are via an online mechanism, so APIs are used extensively.
API for Binance Orderbook
Binance is famous for many things in cryptocurrency, and one of them is its finest orderbook API connectivity. Developers can use the Binance API to form currency exchange applications and services. The financial data is returned in JSON objects or arrays. Public endpoints include market data, accounts, and user streams. The base endpoint is: https://api.binance.com , and the data is returned in ascending order, that is, oldest first, newest last. The time and timestamp related fields are marked in milliseconds over this API for Binance Orderbook. The biggest advantage of using Binance is that it offers hundreds of pairings. A more indepth detail into all aspects of the Binance API can be found at https://binance-docs.github.io/apidocs/spot/en/#limits.
How to Create API Key for Binance Orderbook
One can follow the steps mentioned below to get the API key for the Binance Orderbook.
1. Register on Binance and then login to your account.
2. Move to “Account Settings” on the dashboard, or the opening page once you login.
3. Click on the button named as “API Setting”
4. Now all you need to do is name your key, and press submit.
5. Copy the API key and the Secret in some secure place and Save.
6. Press Edit, and then ensure that “Trading” is enabled. Save again.
Some Features of Binance Orderbook API
1. Binance orderbook with a depth of 100 rows
2. Default 100; max 1000. Valid limits:[5, 10, 20, 50, 100, 500, 1000]
3. Recent trade lists
4. Symbol order book ticker
5. Symbol price ticker
6. 24hr ticker price change statistics
7. Current average price
8. Kline/Candlestick data
Note that the the Binance API for Orderbooks is available in both PHP and NodeJS and is available through executium in realtime. The Binance API offers a very convenient mechanism to integrate some trading applications efficiently into the main platform. It is an absolutely reliable way to establish a connection between some coded algorithm and the broker’s platform. A private API key can be generated for mobile applications as well, and Binance offers a Rest API as well.