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Ethereum: REST API vs Websocket for asset purchase

Published by Terlumun Aondover on February 4th, 2025.

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Choosing between REST APIs and WebSocket for Purchasing Assets: A Comparison

As an e-commerce platform owner looking to integrate cryptocurrency purchasing functionality into your application, you may have considered using either a REST API or a WebSocket-based solution. While both options offer advantages, they cater to different use cases and trade-offs between speed, reliability, and scalability.

REST API

A REST (Representational State of Resources) API is an architectural style that provides a fixed and predictable interface for interacting with resources on the server. When it comes to purchasing assets, a REST API can be used to retrieve data from exchanges like Binance or Kucoin in real-time. Here are some of the key benefits of using a REST API:

Fast and efficient: Fetching data is typically faster than using Websocket because it relies on HTTP requests and responses.

Scalability

: REST APIs can handle high volumes of simultaneous requests without sacrificing performance.

Easy to implement: Many exchanges offer pre-built RESTful APIs for common use cases, making it easy to integrate with your application.

However, there are also some potential downsides to consider:

Lack of real-time updates: If you need to receive real-time price updates, a REST API might not be the best choice due to latency constraints.

Limited control over data fetching: You may have limited control over how the exchange fetches and processes data.

WebSocket

A WebSocket is an application layer protocol that allows for low-latency, two-way communication between a client (your application) and a server. When it comes to buying assets on exchanges like Binance or Kucoin, Websocket offers several benefits:

Real-time updates: Websocket allows for instant price updates, making it ideal for applications that require real-time market data.

Full control over data fetching – You can choose which data points you want to receive and when, giving your application more flexibility and control.

However, there are also some downsides to consider:

Slower data fetching – WebSocket requests are typically slower than REST API requests due to the overhead of establishing a persistent connection.

Higher bandwidth requirements

– Exchanges typically require higher bandwidth to handle the increased traffic generated by WebSocket connections.

Choosing the right approach

Considering your application requirements, it is essential to weigh the pros and cons of each approach. Here are some questions to ask yourself:

Do you need real-time price updates? – If so, a WebSocket might be a better choice due to its ability to provide instant updates.

Are latency limitations a concern? – If your application does not require real-time updates, a REST API might suffice.

Do you want full control over data fetching?: If so, choosing a WebSocket-based solution might give you more flexibility.

Recommendation

If I were you, I would recommend using a WebSocket-based solution to buy assets on exchanges like Binance or Kucoin. This allows for real-time price updates and provides instant feedback to your application. However, if latency limitations are a concern or you prioritize ease of implementation over real-time updates, a REST API might be a suitable alternative.

Additional Tips

Regardless of the approach you choose, consider the following best practices: