Crypto is the future, and numerous crypto exchanges allow you to trade your cryptocurrencies in no time. In this article, we will talk about the Bittrex cryptocurrency exchange and Bittrex API.
You’ll learn what Bittrex and Bittrex API are and the steps to use Bittrex API and trade like a pro.
Technology really can do wonders for you!
Bittrex
Before we jump into Bittrex API, first, let us tell you what Bittrex is. Bittrex is a cryptocurrency and digital assets trading platform where you can handle trade for about 700 markets. It’s been helping people in trading since 2014, which is why it’s the most trusted exchange for secure and fast transactions.
Bittrex API
What if we tell you that you can autopilot the whole trading process on Bittrex? It’s surprising, but it’s possible with Bittrex API. Using Bittrex API, you can implement codes to trade automatically.
Bittrex API is paid or Free
The best part is that Bittrex API and signing up on Bittrex are free. However, they charge some fees for trading. The fee structure varies according to trading volume and pair.
You can lower your fees by trading more through Bittrex. We’ve attached a fee schedule below based on the maker-taker schema.
Maker – It helps to make the market. Maker orders work as an addition of liquidity to the order book. It’s not instant; instead, it’s about future order matching.
Taker – Taker orders are instant and match the pre-placed orders in the order book.
You might have to pay blockchain network fees when moving tokens from blockchain to Bittrex and vice versa.
Reasons to Use Bittrex API
We’re going to state some of the cons of using Bittrex API so that you may know the reasons to use Bittrex API:
- It’s secure with a proven track record
- You can do trading in a alot of assets
- It’s a straightforward API
- It’s Free (However, there are some transactional fees which are less than most of the exchanges)
Are there any Cons of Bittrex API?
Every technology has its drawbacks, and here we’re going to enlist some of the cons of Bittrex API:
- Issues in the regulatory status
- No Margin Trading
- Less-Features
- The Customer Support team is not up to the mark.
- High Withdrawal fees
In which Countries is Bittrex API available?
We’ve attached a map to make it easy for you to locate if it’s available in your country or not. This list was released on March 23, 2021 (So maybe, they’ve added some more countries now)
Are There Any Alternatives to Bittrex API?
Yes, there are a few alternatives that you can use instead of Bittrex API:
- Binance
- Coinbase
- Gemini
- BitMex
- FTX
- Kraken
- KuCoin
- ByBit
- Phemex
- Deribit
- Bitfinex
Let’s Get You Started!
The first step to getting started with BittrexAPi is to go to their website. Here is the Link: https://global.bittrex.com/
Click on the Sign-Up button in the upper right corner, and choose the account type. After choosing the account type, you will be prompted to enter your email address and set your password. Enter your details and click on the Create Account.
They will send you an email verification link in your registered email. Check the email and click on the verification button. Once your email is verified, you will be redirected to the Terms of Service. (Please check the screenshot below)
Now you’re done with the account creation, enter your information (Birth, country, and all) and verify your Identity (Government Issued ID or any other official ID proof).
Note: The verification process takes a day or two.
Getting Currency Data Using Bittrex API
You can fetch the currency data by using the REST API. We access the currencies endpoint for getting this data:
In the currency data above, there are 400+ currencies on Bittrex. You can see a notice message where you get important currency information.
Now, if you want to fetch the information about any currency, here’s how you can do it:
You can see that we have stated the currency name after currencies in the link.
Getting Price Data Using Bittrex API
To get the price data using Bittrex API, you must call the tickers endpoint with any specific currency.
First, we have to fetch markets that are available on Bittrex. Here’s how you can do it:
You can see that there are 760 markets/trading pairs available. It’s time to get the price data.
For getting price data for all markets that are available on Bittrex, you can use the code below:
Getting Historical Data Using Bittrex API
If you want to get the historical data using Bittrex API, you have to call the historical endpoint:
You can see that we set the ticker, cable interval, and starting date.
Getting Technical Indicators Using Bittrex API
We can’t directly get technical indicators using Bittrex API, and we must create a custom indicator using libraries.
In the above example, we created 20 SMA (Simple Moving Average)
Now that we have the data, it’s time to create a graph. Here’s how you can create a graph:
Getting Order Book Data with Bittrex API
You can get the order book data with the help of REST API. Below is the code where we’ve mentioned a method to get separate data frames and merge the two into one.
How You Can Trade On Ethereum Using Bittrex API (When BTC hits a specific price)
You can trade ETH when BTC hits a point; below, we’ve given an example when BTC hits $50,000.
For this purpose, we will create a loop to check if the price hits our given level ($50,000, and then it will set our order. If the price doesn’t hit our desired level, the loop will continue.
The code is set to check if the order is filled after waiting a couple of seconds after the price execution.
We can create a function to enable us to manage Bittrex private endpoints.
Now, let’s do the trading by importing libraries that are relevant.
How You Can Trade On Ethereum Using Bittrex API (When BTC changes 5%)
We will use a loop to get BTC prices in time intervals for trading ETH (when BTC fluctuates by 5%) and then calculate the percentage.
The loop will see if the BTC change has not yet reached 5%, the code script will keep doing the percentage calculation, and if the condition (BTC changes 5%) is fulfilled, then the code will do the trading.
After the trade takes place, we wait for a couple of seconds and then verify if the trade is filled or not.
Can I Cancel Orders with Bittrex API?
We can use DELETE to cancel orders in Bittrex. Every order has its unique order ID, and we pass the order we wish to delete.
Can I Use the Bittrex API in Google Sheets?
You can use Bittrex API in Google Sheets. For this purpose, we will write a JS script. Here we’ll take an example where the script will pull the last ticker price.
Here are a few easy steps you need to follow:
- Go to Sheets.Google.com
- Open a blank sheet by clicking the Plus icon at the bottom right.
- When you have blank Google sheets, click on the tools from the menu.
- From the dropdown menu, select Script Editor.
Copy the below-mentioned code and save the script. (Floppy Icon)
Now in your Google Sheets, enter the below-mentioned function in the fx section.
Before entering this function, add crypto data in Google sheet cells.
Conclusion
Bittrex API is one of the amazing tools you can use to automate your trade-in Bittrex exchange. However, there are a few cons, and we’ve mentioned the major pros and cons in this article.
You can get currency, price, and historical data with Bittrex API. We’ve discussed each step in detail so that you may get the most out of Bittrex API and do trading like a pro!
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