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Binance Introduces Function for API Users to Prevent Self Trading

WikiBit 2023-01-25 17:53

Abstract:The service will be available to Binance API users beginning January 26. The exchange's website and app users will be unaffected.

  Binance, a cryptocurrency exchange, has developed a new tool to assist its API users in preventing self-trading on its site.

  The service will be available to Binance API users beginning January 26. The exchange's website and app users will be unaffected.

  Binance further stated that the tool is optional and that users who choose not to utilize it will have no consequences.

  The Self-Trade Prevention (STP) function prevents the execution of orders that might result in a self-trade, which is an activity in which users trade with one other to create the perception of greater activity than there is. As a result, self trading is regarded as a type of market manipulation.

  Binance API is a service provided by the exchange that allows other trading firms to connect to Binance's computers, gaining access to market data and enabling trades.

  As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!

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