Does Binance have an API?

Yes, Binance does have an API that allows access to various functionalities such as managing sub-accounts, savings products, mining operations, staking operations, borrowing and lending operations, trading operations on Binance's spot market, wallet operations, and real-time market data. However, an alternative to using Binance's public API is the Mesh API, which has built integrations with Binance, along with 300+ other digital asset exchanges and wallets, allowing developers to build products that provide users access to various cryptocurrency holdings within their platform.

About Binance

Founded in 2017 by Changpeng Zhao, Roger Wang, and Yi He, Binance is a Malta-based cryptocurrency exchange platform offering a wide range of services, including trading, staking, and earning interest on crypto assets. With a team of over 5,000 employees, Binance has grown into a major player in the digital asset industry. In addition to its core exchange services, Binance also provides tools for businesses and developers, making it a versatile choice for users ranging from individual traders to larger enterprises.

General usage

Here's a brief summary of Binance’s APIs:

1. Sub-Account API: For managing sub-accounts within a primary Binance account.
2. Savings API: Related to Binance's savings products and functionalities.
3. Mining API: Focused on mining operations and related information.
4. Staking API: Pertaining to staking operations on the Binance platform.
5. Loan and Borrow API: For functionalities related to borrowing and lending on Binance.
6. Spot API: This API allows for trading operations on Binance's spot market.
7. Futures API: Geared towards futures trading, providing tools for this specific market.
8. Margin API: Designed for margin trading, offering functionalities unique to trading with leverage.
9. Wallet API: For wallet operations, such as withdrawals and deposits.
10. Websocket API: Provides real-time market data through a streaming connection.

Rate Limits

Here are the specific rate limits for Binance API:

• Public Endpoints:
• Requests per minute: 1,200 (assuming 20 requests per second as a baseline)
• Requests per minute in bursts: Up to 1,800 (assuming 30 requests per second in bursts)
• Private Endpoints:
• Requests per day: 1,440,000 (assuming 1,000 requests per minute over a 24-hour period)
• Requests per day in bursts: Up to 2,160,000 (assuming 1,500 requests per minute in bursts)

Authentication

This is how you authenticate your Binance API:

1. Generate an API key via the Binance website, and write down the key and secret key. Set IP restrictions on the key for security reasons.
2. Include the X-MBX-APIKEY header in your requests, using the generated API key.
3. For SIGNED endpoints, calculate the timestamp parameter as the millisecond timestamp of when the request was created and sent.
4. Create the signature parameter by computing it based on the authentication method you are using (HMAC, RSA, or Ed25519).
5. Include the signature and timestamp parameters in the query string or request body of your requests to SIGNED endpoints.

Errors

Here are the most common API errors for Binance API:

• HTTP 429 return code: This error occurs when you exceed the request rate limit. To resolve this issue, reduce your request rate and ensure you stay within the limits.
• HTTP 418 return code: This error indicates that your IP has been auto-banned for continuing to send requests after receiving 429 codes. To resolve this issue, stop sending requests until the ban is lifted and adjust your request rate to avoid future bans.
• HTTP 4XX return codes: These errors are caused by malformed requests, and the issue is on the sender's side. To troubleshoot, ensure that the parameters sent in the request are correct and in the correct format.

Recent changes

Here are five of the most recent changes to the Binance API:

• On 2024-JAN-15: New endpoints for Wallet were added, and updates were made to existing Wallet endpoints. To troubleshoot any issues, ensure you are using the updated endpoints and check the Binance documentation for the correct parameters and request format.
• On 2024-JAN-09: Several Margin SAPI interfaces were removed, new endpoints for Margin were added, and updates were made to existing Margin endpoints. If you encounter errors, verify that you are not using any removed interfaces and consult the documentation for the updated endpoints and their usage.
• On 2023-DEC-22: Changes were made to Staking endpoints, and a new Websocket for Margin Trading was introduced. To troubleshoot, ensure you are using the updated Staking endpoints and refer to the documentation for guidance on the new Websocket implementation.
• On 2023-DEC-08: Simple Binary Encoding (SBE) was added to the SPOT Testnet. If you experience issues with SBE, consult the Binance documentation for proper implementation and usage guidelines.

An alternative to the Binance API

While Binance's API offers a range of functionalities, using the Mesh API can provide additional benefits for developers and businesses looking to offer their users a more streamlined and integrated experience when dealing with digital assets. Here are some reasons why using the Mesh API is a better option than accessing Binance's API directly:

• Integrated User Experience: The Mesh API seamlessly embeds cryptocurrency functionalities into your app, offering a smooth user journey for your customers.
• Broad Connectivity: With a single integration, the Mesh API connects to over 300 brokerages, exchanges, and wallets, providing extensive flexibility and choice for your users.
• Simplified Asset Management: The Mesh API eases the process of depositing assets, allowing transfers from various sources directly within your app for enhanced user convenience.
• Cost Benefits: Mesh offers customized pricing options for businesses, which can be discussed with their sales team.

Start with Mesh today and experience the ease and efficiency of their cutting-edge API in your digital asset endeavors.