How exactly do APIs work and can they help you trade better? Let’s find out (feel free to skip ahead if you already know the basics).

A quick glance at APIs

APIs (Application Programming Interfaces) are a type of intermediary software that allows different software applications to communicate and work together. Imagine you want to order food from a restaurant without physically going there. You could call the restaurant and tell them what you want over the phone. In this scenario, you are using a "phone API" that allows you to talk to someone at the restaurant without going there in person. Similarly, software applications use APIs as a way to "talk" to each other and share information or perform specific tasks.

APIs exist across various industries; here are some of their common applications that you might have come across:

• Enabling safe social log-ins on external websites

• Connecting user-facing front ends with the back-end in web apps

• Accessing updated weather data for mobile apps

• Tracking and managing user data for financial organisations

• Integrating payment gateways in retail websites

• Retrieving information about airline/hotel availability in real time

  
  

And the list goes on. Basically, APIs enable applications/software programs to interact with each other effectively by following predefined rules so they can exchange data or collaborate seamlessly.

APIs in the realm of trading

APIs play a crucial role in the future of crypto trading; this is because they allow traders to access real-time data (prices, trade history, etc) and make informed decisions in a highly volatile cryptocurrency market. They also enable users to execute trades without placing orders manually, using their own algorithmic software or bots that can be integrated with the exchange’s API.

How does tanX factor in?

Now, where does tanX come into this equation? Our team realised that harnessing the power of APIs can be a game-changer in fintech, so we crafted our platform to offer endpoints that provide users with more control and greater flexibility in managing their digital assets. Our plug-n-play APIs make it possible for traders to build their own trustless wallets, DEXs, payment gateways and more.

tanX’s APIs cover the basics: market data, trading options, private and public data access. The best part is that you don’t need to be fluent in web3 coding - a frontend or backend developer with a basic knowledge of web2 code can switch to tanX easily. And in case there is a requirement for SDKs, tanX has its own NodeJS SDK which allows users to interact with our APIs effortlessly.

The Final Word

The APIs offered by tanX empower traders with a wide range of tools to make informed investment decisions. Along with seamless integration capabilities and comprehensive market data access, our endpoints also have robust security measures in place. By encouraging community collaboration through support channels, tanX.fi ensures we’re on our toes when it comes to identifying and fixing issues. This solidifies our position as the top choice for crypto enthusiasts seeking advanced API solutions for their financial needs.

So what are you waiting for? Try out tanX and recognize the superior DEX-perience powered by excellent API services.