Ethereum: Problems performing trades with Binance API using Python
Ethereum: Issues Trading with Binance API Using Python
As a developer, it’s exciting for me to explore new APIs and trading platforms, especially when it comes to cryptocurrencies like Ethereum. However, I’ve encountered some issues when trying to trade with the US version of Binance API using Python without external libraries.
In this article, I’ll describe the challenges I faced, provide solutions, and propose a solution that will help you succeed in trading on Binance API.
Challenges:
- Authentication: Binance API requires authentication tokens, which are typically obtained via OAuth or password-based authentication.
- API Keys: Each user has their own API key, which must be exchanged for Binance API Token (BEP20) before requesting a trade.
- Bandwidth Limit
: Binance API has bandwidth limits on the number of requests per hour, which may limit your ability to trade frequently.
Workarounds:
Using the OAuth flow
To resolve authentication issues using the OAuth flow:
- Install the
requestsandoauthliblibraries:
pip oauthlib installation requirements
- Generate a client ID and secret for the Binance API in your app:
client_id = 'your_client_id'
client_secret = 'your_client_secret'
- Create an OAuth provider object using the client ID, secret, and redirect URI (i.e.
requirements import
Auth_provider = Auth_provider(
client_id = client_id,
client_secret = secret_client,
redirect_uri = '
)
Redirect user to OAuth provider authorization URLurl = oauth_provider.get_authorize_url()
Handle OAuth provider callbackdef authorize_callback(code):
Replace with your own code to handle responsepass
Request a transaction using BEP20 API token (BEP20)trade_request = {
'symbol': 'ETHUSDT',
'page': 'buy',
'type': 'restriction'
}
response = requests.post(
f'
headers = {'X-MBX-APIKEY': oauth_provider.get_token(code)}
)
Process the responseUsing password-based authentication
To overcome authentication issues using password-based authentication:
- Create a Binance API token (BEP20) for your app:
import requirements
api_token = 'your_api_token'
- Make a trade request using the BEP20 API token:
trade_request = {
'symbol': 'ETHUSDT',
'page': 'buy',
'type': 'limitation'
}
response = requests.post(
f'
headers={'X-MBX-APIKEY': api_token}
)
Process the responseRate limiting and rate limit exceptions
To avoid rate limiting errors:
- Batch API requests to limit the number of requests per hour.
- Resolve rate limit exceptions by retrying failed requests with a smaller batch size.
Conclusion:
Trading through the Binance API without external libraries can be difficult, but there are ways to overcome these issues. Using OAuth or password-based authentication and a transaction limit, you can successfully trade on the US version of the Binance API using Python. Don't forget to replace the placeholders with your own values.
Additional resources:
- [Binance API Documentation](
- [OAuth Flow for Binance API]( OAuth Flow Documentation)
Please note that this is not an exhaustive guide. For more information on using the APIs, please refer to the Binance API documentation and the requests` library documentation.
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