Robinhood releases crypto API for US traders
Stock trading app Robinhood has announced the release of its crypto trading application programming interface (API) for users in the United States.
On May 30, the investment app revealed its attempt to use an API for experienced crypto traders. The crypto trading API allows US-based traders to set up automated trading strategies. Robinhood believes this allows users to respond to market movements and stay ahead of market trends.
Users can trade crypto using the API without opening the Robinhood app.
Robinhood crypto trading API
With the API, users can make their programs interact with real-time crypto markets. Robinhood says they can use algorithms and strategies to execute their traders.
Johan Kerbrat, Robin Hood Crypto's vice president and general manager, told Cointelegraph that the API will allow clients to “take full control of their trading strategies” and automate trades. Kerbrat said:
“Developers can create products tailored to their needs and build personalized tools for crypto trading.”
Kerbrat added that the API allows users to execute transactions based on predefined parameters, eliminating the need for manual intervention.
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“This automation allows marketers to work with greater speed, accuracy and efficiency and implement complex marketing strategies,” Kerbrat said.
Robinhood targets advanced crypto traders
Although the tool seems very useful, it may not be suitable for everyone. According to Robinhood, the crypto trading API is designed for experienced crypto traders.
Kerbrat explains that this group of users values high-level functionality that allows them to use their technical knowledge to execute complex strategies.
The API provides these traders with analytics, real-time data processing and improved security, he noted. “We created a website with API documentation and examples of how our customers are using it,” he added.
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The executive added that as his company continues to grow market share, they decided to provide advanced trading tools to help their clients navigate the crypto market.
When asked why users should use their API, Kerbrat offered “the lowest cost to trade crypto on average.” The executive said customers can “maximize” their offers with commission-free trading and crypto APIs at no extra cost.
Outside of the crypto API, Robinhood has launched a stock service for Solana (SOL) holders in Europe. On May 15, the company announced its first crypto-staking product. Users can earn 5% yield through the Robinhood app by including their SOL tokens with the service.
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