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Could you imagine there is a piece of computer software that allows you to take advantage of the exchange rates at two different crypto platforms? Such software is referred to as a crypto arbitrage bot and is an excellent tool for API traders.
In this blog post, you will find out how implementing this software can improve your CEX.IO API trading. You will also learn about the latest crypto industry trends and developments, along with the CEX.IO updates.
Cryptocurrency and Bitcoin Arbitrage Bots
A cryptocurrency arbitrage bot is computer software that buys and sells the same amount of crypto on two different exchanges to reap profit from the difference in the exchange rates.
As the price gaps between the exchanges can be closed within seconds, crypto arbitrage bots can simultaneously place the two transactions without actually transferring crypto coins from one account to another.
To link with cryptocurrency exchanges, crypto bots require an application programming interface (API). To make the most of the arbitrage bot on the CEX.IO exchange, you can implement the crypto trading API. CEX.IO enables you to get real-price feeds for 200+ trading pairs, subscribe to order books, and monitor your trading history.
A crypto arbitrage bot is made up of a set of commands that continually check crypto prices on various exchanges. Whenever it spots a price gap on two (or more) exchanges for the identical trading pair, it takes action automatically.
The purpose of a cryptocurrency and Bitcoin arbitrage bot is to purchase crypto coins at a lower price on one exchange, then sell them higher on another crypto exchange. To accomplish that, the bot commonly short-sells crypto on a more expensive platform and purchases the same amount on a cheaper one.
Two essential components for running crypto arbitrage bots are live, as well as historical, data feeding, and real-time links with crypto exchanges. The real-time and historical data are necessary as the former contains price information and exchange order records, while the latter involves previous transactions, a user’s trade history, and account balances.
Connection to cryptocurrency exchanges can be achieved through a crypto trading API. CEX.IO offers the two most frequently implemented APIs in the crypto industry — WebSocket API and REST API. With them, you can link crypto arbitrage bots to the CEX.IO exchange, then let them place trades on numerous markets and trading pairs.
Some of the trading bots you can consider implementing in your API trading is HaasOnline. It is a crypto trading platform that is dedicated to offering advanced trading services.
HaasOnline.com has an exclusive offer for CEX.IO traders that shouldn’t be missed. Starting from August through September, 25 CEX.IO customers will be able to get HaasOnline trial licenses with the coupon code vr2em2by. Don’t miss an opportunity to boost your trading with HaasOnline software or cloud services.
To help you learn more about API trading, CEX.IO has created a Telegram group where traders can discuss their API-related requests, questions, or hesitations.
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