Home / Crypto Currency / Top 3 Open Source Trading Bots With Binance Implications

Top 3 Open Source Trading Bots With Binance Implications

Trading bots play an integral role in the cryptocurrency world Although numerous bots exist which support a wide variety of exchanges, things are a bit different when it comes to Binance. The exchange advises users not to let third-party tools use their API credentials, yet the following bots – in order f completion – may still provide the necessary functionality.

#3 Blackbird

Some cryptocurrency traders may be familiar with the Blackbird bot. It is primarily designed for arbitrage purposes and is coded n a language most people can get familiar with. That latter aspect is not unimportant when dealing with open source trading bot solutions. It also means users can change the features of this bot as they see fit, assuming they possess the necessary coding knowledge.

At this current stage, Binance is not officially supported by the bot. Unlike what people assume, the developers are working on implementing access to this trading platform, at least to open long positions through Blackbird. Anyone with the necessary knowledge can implement this feature as well, thus it will be interesting to see what the future holds for this bot accordingly.

#2 Binance Trading Bot / Algobot

The original Binance trading bot project has been discontinued for a little while now. Why that decision was made exactly, remains unclear. The developer has changed the code into a new stock market algorithmic trading bot. It still has most of the core functionality of the first project, yet it takes advantage of a new API integration model to offer more functionality.

Given the relatively new status of AlgoBot, properly vetting the code is well-advised. That is what makes open source trading bots so appealing, as they can easily be vetted by anyone who understands the coding language in questions. As such, it shouldn’t take too long for experienced coders to determine the validity of AlgoBot and its Binance integration.

#1 CCXT

It would appear a lot of cryptocurrency enthusiasts have taken a strong liking to CCXT in recent weeks. This new trading bot is a library used to connect and trade with various cryptocurrency and altcoin exchanges, as well as payment processing services. It does not come with built-in trading algorithms, but that is something any skilled trader and coder can implement without real issues.

The list of exchanges for CCXT includes Binance, Bitfinex, Kraken, The Ocean, and Bittrex. Other exchange markets are supported as well, bringing the total to 131 exchanges and trading APIs. A very comprehensive bot which can be turned into a very powerful tool with the correct trading strategies.

Read more

Check Also

Bitcoin Cash Price Gets Skewed due to Exchange Trickery

A lot of confusing action is taking place where the Bitcoin Cash price is concerned. Although its actual decline in value is quite obvious for everyone to see, the real price of BCH is not necessarily what people can see on Coinmarketcap. This is primarily because numerous exchanges treat BCHABC as Bitcoin Cash already despite nothing being decided in terms of which chain will be the longest. Bitcoin Cash Value Fluctuates Heavily Depending on where traders look at, the price of Bitcoin Cash will be either close to the $400 level or down to $250-ish. That is quite a large gap between prices, yet one that is also very easy to explain. Bitcoin Cash, as people knew it before the fork, no longer exists. Most professional exchanges have also retired this price ticker, for the time being. As the hash war rages on, there are still a lot of unknown factors waiting to be addressed. Despite this ongoing kerfuffle, there is a net 5.76% decrease in the Bitcoin Cash price, and a 5.4% decline over Bitcoin. More specifically, that is what CoinMarketCap reports at this time, although this is not necessarily the case whatsoever. In fact, some exchanges are clearly jumping the gun by labeling BCHABC as BCH and thus dragging the Bitcoin Cash price down a bit more. Exchanges currently engaging in this activity include Bittrex and Coinex, neither of which plays a big role of importance when it comes to trading. However, based on the current value of BCH on Bitfinex and Gate.io, it seems a similar incident is taking place. One also has to keep in mind Bitcoin Cash was getting battered ahead of the network split as well. Most exchanges have halted trading of BCH indefinitely, primarily because the currency no longer exists. It is evident either BCHABC or BCHSV will take over that name in the future, but nothing has been decided at this point. As such, any trading referring to just “Bitcoin Cash” or “BCH” should be avoided, as most users can never be sure which currency is effectively being traded under this name. All of this skews the picture pertaining to Bitcoin Cash altogether. Coinmarketcap reports there is still $392m in trading volume for BCH, even though that is virtually impossible right now. With so many exchanges freezing deposits and withdrawals, it is evident actual BCH trading is no longer possible whatsoever. Virtually all platforms have deposits of BCHSV and BCHABC frozen as well, which only makes this market trend more confusing. It is safe to say the entire network split has been a bit of a mess first and foremost. In the case of Bitcoin Cash itself, that name will – under the current circumstances- not be used across exchanges for much longer. Instead, the two separate camps need to be treated as such first and foremost. Until things settle down – with might not necessarily happen anytime soon – the Bitcoin Cash price itself is pretty much irrelevant for most traders and speculators. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Bitcoin Cash Price Gets Skewed due to Exchange Trickery appeared first on NullTX.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Disclaimer: Trading in bitcoins or other digital currencies carries a high level of risk and can result in the total loss of the invested capital. theonlinetech.org does not provide investment advice, but only reflects its own opinion. Please ensure that if you trade or invest in bitcoins or other digital currencies (for example, investing in cloud mining services) you fully understand the risks involved! Please also note that some external links are affiliate links.