What is a Python Library?
In the world of openware, thousands of tested pieced of code are already written and provided for anyone to use via coding reference. Stored in "libraries" these pre-written coding sections are called on when programmers reference them in a given programming language by command. The program being written then contacts the library, draws on the given code based on use of specific command words, and the programmer saves time and energy avoiding having to do all the same scripting all over again for basic functions. Referencing libraries is probably one of the first things people do learning coding, oftentimes when they don't even realize it. Referencing libraries is literally how a program knows what given command words mean, covering everything from math equations to knowing timezones.
What is CCXT?
CCXT is an open-source library that provides a unified interface for connecting to and trading on more than 135 cryptocurrency exchanges. It eliminates the need to write custom API integrations for each exchange, allowing developers and traders to access market data, execute trades, and manage accounts using a consistent set of methods.
Key Features of CCXT
CCXT offers a wide range of features that make it a powerful tool for interacting with crypto exchanges:
- Exchange Connectivity: CCXT supports a vast number of exchanges, including popular ones like Binance, Coinbase Pro, Kraken, Bitfinex, and many more. This allows traders to access a diverse range of markets and liquidity.
- Market Data Retrieval: CCXT simplifies the process of fetching real-time and historical market data, including ticker prices, order book depth, trade history, and more. This enables traders to make informed decisions based on accurate and up-to-date information.
- Trading Functionality: With CCXT, you can execute various types of trades, such as market orders, limit orders, stop orders, and more, across multiple exchanges. It provides a unified interface for placing orders and managing positions.
- Account Management: CCXT allows users to retrieve balances, transaction history, and other account-related information from supported exchanges. This feature is valuable for portfolio management and tracking.
- WebSocket Support: CCXT provides WebSocket functionality, enabling real-time data streaming from exchanges. This is particularly useful for applications requiring low-latency data updates, such as real-time market analysis or algorithmic trading.
How to Use CCXT
Using CCXT is straightforward and requires a few simple steps:
- Install CCXT by running a package manager command in Python environment using pip or similar.
- Import the CCXT library into your Python project to access its classes and methods.
- Create an instance of the desired exchange by specifying its ID (e.g., 'binance', 'coinbasepro').
- For exchanges that require authentication, provide your API keys to access your trading account. CCXT securely handles the authentication process, ensuring the privacy and security of your keys.
Interacting with Exchanges
Utilize CCXT's methods to access market data, execute trades, retrieve account information, and more. The library provides a consistent and intuitive interface across different exchanges, simplifying the development process.