Cryptocurrency continues to grow in popularity, yet the infrastructure choices for connecting trading markets and exchanges are lacking. CryptoCurrency eXchange Trading Library (CCXT) provides a software-only solution that aims to build a foundation for connecting these fragmented exchanges, but it lacks many features that people, especially institutions, are looking for to trade and manage their digital investments and wallet.
Learn about CCXT and alternatives for institutional traders, pros, cons, and how to get started.
What Is CCXT Library?
CCXT Library allows you to trade using multiple cryptocurrency exchanges all via one platform. It provides market data, visualizations, algorithmic trading, storage, and more to connect the many exchanges and payment processing services.
CCXT is available on Github for developers and tech-savvy traders to build out their cryptocurrency trading technology. Data scientists also enjoy working with CCXT because it provides the foundation for valuable insights and visualizations.
It is an open-source code base anyone can download and use as the foundation for their cryptocurrency trading technology. However, the solution still lacks some important features for institutional traders.
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One account. One onboarding. One set of APIs.
25 exchanges, 20% trading fee discounts.
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How Does CCXT Work?
Each cryptocurrency exchange provides a unique way for developers to integrate their exchange into a trader-owned platform for ease of trading and building a cohesive library of all investments. Before CCXT, that meant manually building connections to many exchanges, which was time-consuming and laborious since each endpoint had different characteristics. Plus, ongoing management is onerous.
CCXT library enables an easy way to connect to many leading exchanges by providing pre-built technology to do so.
But it’s not as simple as opening CCXT in your browser and purchasing a subscription, like many other services you might be used to. You’ll need to learn how to set up CCXT before using it. The first step is to purchase a license for CCXT Pro before downloading the code from a private GitHub repository.
The cryptocurrency library is not for everyone. You’ll need specialized expertise to use the program even once you’ve purchased a license to it.
Why Use CCXT?
CCXT is one of few ways to trade across multiple exchanges. For developers, it provides a starting point for connecting to these exchanges that would otherwise be completely manual and consume a great deal of time.
But the codebase is open source and limited, which is what leads some people to look for alternatives for institutional investors.
Limitations of CCXT Pro
Although CCXT provides a crypto trading API foundation, it has limitations. One is that it lacks connections to some exchanges, which means you still may need to build manual connections to those unconnected exchanges.
Additionally, CCXT currently lacks full-featured trading capabilities. And it currently lacks the robust features and technology needed for enterprise use. That’s because the developers using the CCXT codebase typically use proprietary back-end infrastructure to power the application.
When you need to update your application that runs on CCXT, you’ll need to redeploy it, which means you’ll experience downtime. And yet managing these limitations of CCXT has been a requirement because building manual connections to all exchanges is not practical. Developers simply had to work around these complications and limitations because there were limited CCXT competitors, until recently with the launch of Apifiny Connect.
Apifiny Connect: Best CCXT Pro Alternative Designed for Institutional Traders
Apifiny Connect allows investors to trade on more than 25 exchanges using one account and set of APIs, reducing setup time compared to CCXT. Apifiny’s connected exchanges span 6 continents, so you can trade globally without setting up overseas accounts.
Once trading with Apifiny Connect, you can find the best global price across connected exchanges, instantly transfer funds between exchange sub-accounts, and reduce the reserves or pre-funding required for multi-exchange trading.
One of the best parts about using Apifiny Connect is that it has 20% discounted trading fees, despite offering trading on the world’s leading digital asset exchanges. The onboarding process is simple, and once you’re up and running, you’ll be able to transfer currency among the exchanges with incredible ease.
Just one account and one set of APIs to trade on 25 exchanges.
Colo Included for select exchanges. 20% trading fee discounts for all.
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Benefits of Apifiny Crypto Trading API
Using the Apifiny Connect set of APIs offers many great benefits you won’t find with other alternatives.
Institutional-grade Security & Compliance
When you use multiple exchanges, you need a legal team to review the compliance regulations for each and stay up to date on how to remain compliant while trading. With so many international exchanges, this process can be overwhelming for institutional traders.
Apifiny Connect streamlines this process with one onboarding process to ensure compliance while providing outstanding security for your digital assets.
Superior Price Discovery
As you look for the best trading opportunities, Apifiny Connect helps you connect to spot trading markets to monitor asset pricing across crypto exchanges so that you can be strategic in how and when to trade.
Deep Liquidity
While the top 6 US exchanges represent less than 13% of global trading volume*, Apifiny Connect provides access to more than half of global spot trading volume.
Low Fees
Apifiny Connect helps you keep more of your investment by giving 20% discounts on other exchanges’ published trading fees.. If you’re trading on behalf of customers, that means your organization will be more attractive to new customers as they’ll see greater returns on their investments with the reduction of these fees.
Fast Trade Execution
Some API programs lag as they communicate with the various crypto exchanges. Apifiny Connect offers low latency and colocation-augmented speed to avoid missing out on excellent price points.
Learn more about Apifiny’s Global Crypto Trading API for institutions and professional traders.
One Global Trading Platform
Managing compliance with global cryptocurrency regulations is challenging, expensive, and time-consuming. With one streamlined onboarding process, Apifiny Connect makes it easier to manage global investments with ease, speed, and streamlined compliance.
How To Get Started With Apifiny
Ready to get started with Apifiny Connect? The process of using the platform is incredibly simple.
- Step 1: Create an Apifiny Connect account
- Step 2: Verify your email address
- Step 3: Complete your profile
- Step 4: Connect to your exchanges
- Step 5: Manage your account balances, view transaction history, execute trades, and more all within Apifiny
Apifiny Connect: The Best Crypto Trading API
As cryptocurrency continues to grow and institutional investors look for secure, stable ways to manage investments across exchanges, the open-source CCXT option is struggling to keep up with growing needs. Apifiny offers a compliant, secure crypto trading API. Sign up for an Apifiny Connect account now.
* 24 hour Trading Volume – Nov 9 at 3:38pm EST CoinMarketCap: Coinbase $8.2B, Gate.io $3.3B, Kraken $2.0B, Binance US $1.3B, FTX US $0.5B, Gemini $0.3B. Total spot volume $142.9B. 12.3$ = $17.6B / $142.9B
Frequently Asked Questions
What is the best cryptocurrency API?
Apifiny Connect offers one set of APIs that connects you to more than 25 crypto exchanges so you can trade globally with one account.
Where can I get a multi-exchange crypto trading API?
The simplest way to access multiple trading markets via an API is to sign up for a platform, such as Apifiny Connect, that enables trading on leading exchanges on 6 continents while providing 20% trading fee discounts on all trades.
