What is the role of web socket port in cryptocurrency trading?

3 answers

• Egelund MurphyJun 07, 2023 · 2 years ago
  The web socket port plays a crucial role in cryptocurrency trading. It is a communication protocol that allows real-time data streaming between the exchange and traders. By using web socket, traders can receive instant updates on market prices, order book changes, and trade execution notifications. This ensures that traders have access to the most up-to-date information, enabling them to make informed trading decisions. Without web socket, traders would have to rely on slower and less reliable methods of data retrieval, which could result in missed trading opportunities or inaccurate information. In summary, web socket port enhances the efficiency and accuracy of cryptocurrency trading.
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• Hess HvidJun 10, 2024 · a year ago
  Web socket port is like the lifeline of cryptocurrency trading. It acts as a bridge between the exchange and traders, enabling seamless and real-time communication. With web socket, traders can receive live updates on market data, such as price changes and order book updates, without the need to constantly refresh their screens. This allows for faster decision-making and execution of trades. In addition, web socket also enables the exchange to push important notifications to traders, such as margin call alerts or system maintenance updates. Overall, web socket port is an essential component of cryptocurrency trading infrastructure, providing traders with timely and reliable information.
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• Russo FranksJun 26, 2021 · 4 years ago
  In cryptocurrency trading, the role of web socket port cannot be overstated. It is the backbone of real-time data transmission between the exchange and traders. With web socket, traders can receive continuous updates on market prices, trade volumes, and order book changes. This enables them to monitor the market closely and react quickly to price movements or trading opportunities. Moreover, web socket allows for two-way communication, meaning traders can also send orders and receive execution confirmations in real-time. This ensures that traders have a seamless and efficient trading experience. Overall, web socket port is a critical component of cryptocurrency trading infrastructure, facilitating fast and reliable data transmission.
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