CCXT Websocket Example: Everything You Need to Know

Are you looking for a way to connect to cryptocurrency exchanges using websockets? Look no further than CCXT, the open-source library that allows you to access over 130 different exchanges with a unified API. In this article, we’ll show you how to use CCXT’s websocket functionality to get real-time market data and execute trades on your favorite exchanges.

What is CCXT?

CCXT is a library written in JavaScript for accessing cryptocurrency exchanges using a unified API. It provides a common syntax for interacting with over 130 different exchanges, making it easy to switch between exchanges or add support for new ones. CCXT supports a variety of features, including market data, order book snapshots, trade execution, and more.

What are Websockets?

Websockets are a protocol for real-time, two-way communication between a client (such as a web browser) and a server. Unlike traditional HTTP requests, which require the client to repeatedly poll the server for updates, websockets allow the server to push updates to the client as soon as they become available. This makes websockets ideal for applications that require real-time data, such as stock tickers or chat applications.

How Does CCXT Use Websockets?

CCXT’s websocket functionality allows you to subscribe to real-time market data updates from supported exchanges. When you subscribe to a websocket feed, CCXT will automatically handle the connection and parsing of data, allowing you to focus on your application’s logic.

Step 1: Installing CCXT

The first step in using CCXT’s websocket functionality is to install the library. You can do this using npm, the Node.js package manager:

  1. Open a terminal or command prompt.
  2. Type “npm install ccxt” and press Enter.

This will download and install the latest version of CCXT.

Step 2: Connecting to an Exchange

Once you’ve installed CCXT, the next step is to connect to an exchange. To do this, you’ll need to create an instance of the exchange’s class:

const ccxt = require('ccxt');

const exchange = new ccxt.binance();

In this example, we’re connecting to Binance, one of the most popular cryptocurrency exchanges. You can replace “binance” with the name of any other supported exchange.

Step 3: Subscribing to a Websocket Feed

With your exchange instance created, you can now subscribe to a websocket feed. CCXT supports two types of websocket feeds: ticker and order book.

Ticker Feeds

A ticker feed provides real-time updates on the current market price of a cryptocurrency. To subscribe to a ticker feed, you’ll need to call the exchange’s “watchTicker” method:

exchange.watchTicker('BTC/USDT', (ticker) => {console.log(ticker);});

In this example, we’re subscribing to the BTC/USDT ticker feed. The “watchTicker” method takes two parameters: the trading pair to subscribe to, and a callback function that will be called each time a new ticker update is received. The callback function is passed a single argument, which is an object containing the ticker data.

Order Book Feeds

An order book feed provides real-time updates on the current state of the order book for a cryptocurrency. To subscribe to an order book feed, you’ll need to call the exchange’s “watchOrderBook” method:

exchange.watchOrderBook('BTC/USDT', {}, (orderbook) => {console.log(orderbook);});

In this example, we’re subscribing to the BTC/USDT order book feed. The “watchOrderBook” method takes three parameters: the trading pair to subscribe to, an options object (which we’re leaving blank in this example), and a callback function that will be called each time a new order book update is received. The callback function is passed a single argument, which is an object containing the order book data.

Step 4: Unsubscribing from a Websocket Feed

When you’re finished with a websocket feed, it’s important to unsubscribe in order to free up resources and prevent memory leaks. To unsubscribe from a feed, simply call the exchange’s “unwatch” method:

exchange.unwatch('BTC/USDT');

In this example, we’re unsubscribing from the BTC/USDT feed. The “unwatch” method takes a single parameter, which is the trading pair you want to unsubscribe from.

Step 5: Executing Trades

In addition to providing real-time market data, CCXT also allows you to execute trades on supported exchanges. To do this, you’ll need to call the exchange’s “createOrder” method:

exchange.createOrder('BTC/USDT', 'limit', 'buy', 1, 50000);

In this example, we’re placing a limit buy order for 1 BTC at a price of 50000 USDT. The “createOrder” method takes five parameters: the trading pair to place the order on, the type of order (limit or market), the side of the order (buy or sell), the amount of cryptocurrency to buy or sell, and the price to buy or sell at.

FAQ

What exchanges does CCXT support?

CCXT supports over 130 different exchanges, including popular options like Binance, Coinbase Pro, and Bitfinex.

What programming languages does CCXT support?

CCXT is written in JavaScript, but it also has bindings for Python, PHP, and other languages.

Is CCXT free?

Yes, CCXT is open-source and free to use.

Can I contribute to CCXT?

Yes, CCXT is hosted on GitHub and contributions are welcome.

Is CCXT safe?

CCXT is a widely-used library with a large user base, so it’s generally considered safe. However, as with any software, it’s important to review the code and use caution when integrating it into your own applications.

Conclusion

CCXT’s websocket functionality provides an easy way to access real-time market data and execute trades on over 130 different cryptocurrency exchanges. By following the steps outlined in this article, you’ll be able to get up and running with CCXT in no time. Happy trading!