- According to Robinhood, this will allow users to stay ahead of market trends.
- Robinhood claims that its crypto trading API is designed for experienced traders.
Robinhood revealed that its crypto trading API is now available to consumers in the US. The investment app broke the news on May 30 that it was trying to use an API to reach out to experienced cryptocurrency traders. Users in the United States may programmatically trade cryptocurrencies using the crypto trading API.
According to Robinhood, this will allow users to stay ahead of market trends while also reacting to market swings. In addition to trading cryptocurrencies inside the Robinhood app, users may do so using the API.
Major Boost to Traders
Users may also create applications that interact with crypto markets in real-time using the API. They are able to employ algorithms and techniques to perform their transactions, according to Robinhood. According to Johann Kerbrat, VP and general manager of Robinhood Crypto, the API gives clients complete control over their trading methods and enables them to automate trading.
The executive elaborated by saying that the API does away with human involvement by letting users conduct transactions based on established criteria. According to Kerbrat, traders may take use of this automation to execute deals more quickly, accurately, and efficiently, and to apply complicated trading techniques that would not be possible by hand.
Robinhood claims that its crypto trading API is designed for experienced traders. According to Kerbrat, this subset of users places a premium on high-level features that enable them to put their technical expertise to work in the execution of intricate plans.
Analytics, real-time data processing, and improved security are some of the benefits that the API offers to these traders, he said. The platform has a specialized website where consumers can get instructions and examples of how to utilize the API, he said.
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