How to Use Python with Binance Exchange API

The python-binance library is an unofficial Python wrapper for the Binance exchange REST API v3. Binance is one of the world's leading cryptocurrency exchanges, offering a robust set of APIs for developers to build trading tools, analytics dashboards, and automation scripts.

This guide will walk you through the essential steps to interact with Binance using Python, from basic setup to executing advanced trading operations.

Prerequisites and Installation

Before starting, ensure you have Python installed on your system. The python-binance library supports asynchronous operations, making it efficient for high-frequency trading applications.

Install the library using pip:

pip install python-binance

For enhanced visualization in some examples, we also use the rich library:

pip install rich

To access private endpoints, you'll need API keys from your Binance account. Always keep these keys secure and never expose them in your code.

Retrieving Exchange Information

Understanding the available trading pairs is the first step in working with any exchange. Binance uses symbols to represent trading pairs, which consist of a base asset and a quote asset.

Listing Available Symbols

#!/usr/bin/python
import asyncio
from binance import AsyncClient

async def main():
    client = await AsyncClient.create()
    res = await client.get_exchange_info()
    print(f'Number of symbols: {len(res["symbols"])}')
    
    for sym in res['symbols']:
        print(f"{sym['symbol']}: base {sym['baseAsset']}, quote {sym['quoteAsset']}")
    
    await client.close_connection()

asyncio.run(main())

This script connects to Binance's API and retrieves information about all available trading pairs. The output includes the symbol name, base asset, and quote asset for each pair.

Working with Market Data

Real-time market data is essential for making informed trading decisions. Binance provides several endpoints for accessing price information.

Getting Ticker Information

#!/usr/bin/python
import asyncio
import json
from binance import AsyncClient

async def main():
    client = await AsyncClient.create()
    res = await client.get_ticker(symbol='LTCBUSD')
    print(json.dumps(res, indent=2))
    
    await client.close_connection()

asyncio.run(main())

The ticker endpoint returns comprehensive price data including:

• Current price and price change percentages
• High and low prices for the last 24 hours
• Trading volume information
• Timestamps for the opening and closing of the trading period

Managing Account Operations

For private endpoints that involve account management, you'll need to authenticate with your API keys.

Accessing Deposit Addresses

#!/usr/bin/python
import asyncio
import os
from binance import AsyncClient

async def main():
    api_key = os.getenv('BINANCE_API_KEY')
    api_secret = os.getenv('BINANCE_SECRET_KEY')
    
    client = await AsyncClient.create(api_key, api_secret)
    btc_address = await client.get_deposit_address(coin='BTC')
    print(btc_address)
    
    await client.close_connection()

asyncio.run(main())

Deposit addresses are unique identifiers used to receive cryptocurrency into your Binance account. Each cryptocurrency has its own address format.

Checking Asset Balances

#!/usr/bin/python
import asyncio
import os
from binance import AsyncClient

async def main():
    api_key = os.getenv('BINANCE_API_KEY')
    api_secret = os.getenv('BINANCE_SECRET_KEY')
    
    client = await AsyncClient.create(api_key, api_secret)
    ltc_balance = await client.get_asset_balance(asset='LTC')
    
    print(f"Asset: {ltc_balance['asset']}")
    print(f"Free: {ltc_balance['free']}")
    print(f"Locked: {ltc_balance['locked']}")
    
    await client.close_connection()

asyncio.run(main())

The balance endpoint shows both available (free) and locked (in orders) amounts for each asset in your account.

Transaction History

Monitoring your transaction history is crucial for tracking performance and compliance purposes.

Viewing Withdrawal History

#!/usr/bin/python
import asyncio
import os
from binance import AsyncClient

async def main():
    api_key = os.getenv('BINANCE_API_KEY')
    api_secret = os.getenv('BINANCE_SECRET_KEY')
    
    client = await AsyncClient.create(api_key, api_secret)
    withdraws = await client.get_withdraw_history()
    
    for e in withdraws:
        print(f"{e['amount']} {e['transactionFee']} {e['coin']} {e['completeTime']}")
    
    await client.close_connection()

asyncio.run(main())

This script retrieves withdrawal history for the last 90 days, showing amounts, fees, and completion times.

Analyzing Trade History

#!/usr/bin/python
import asyncio
import os
from datetime import datetime
from binance import AsyncClient
from rich import box
from rich.console import Console
from rich.table import Table

async def main():
    api_key = os.getenv('BINANCE_API_KEY')
    api_secret = os.getenv('BINANCE_SECRET_KEY')
    
    client = await AsyncClient.create(api_key, api_secret)
    trades = await client.get_my_trades(symbol='SHIBBUSD')
    
    # Table setup and population code would follow
    # (similar to the original example)
    
    await client.close_connection()

asyncio.run(main())

Trade history provides detailed information about each executed trade, including prices, quantities, and commission fees. 👉 Explore more strategies for analyzing trade data

Fiat Currency Operations

Binance supports transactions with traditional fiat currencies alongside cryptocurrencies.

Tracking Fiat Payments

#!/usr/bin/python
import asyncio
import os
from binance import AsyncClient
from binance.helpers import date_to_milliseconds
from datetime import datetime
from rich import box
from rich.console import Console
from rich.table import Table

async def main():
    api_key = os.getenv('BINANCE_API_KEY')
    api_secret = os.getenv('BINANCE_SECRET_KEY')
    
    begin = '2023/01/01'
    begin_ts = date_to_milliseconds(begin)
    end = 'March 31, 2023'
    end_ts = date_to_milliseconds(end)
    
    client = await AsyncClient.create(api_key, api_secret)
    fiat_history = await client.get_fiat_payments_history(transactionType=0,
                            beginTime=begin_ts, endTime=end_ts)
    
    # Table setup and data processing code
    # (similar to the original example)
    
    await client.close_connection()

asyncio.run(main())

Fiat payment history shows your transactions involving traditional currencies, including buys (transactionType=0) and sells (transactionType=1).

Best Practices for Binance API Usage

When working with cryptocurrency exchanges programmatically, follow these essential practices:

• Always secure your API keys with appropriate restrictions
• Implement error handling for network issues and API rate limits
• Use asynchronous programming for better performance
• Regularly update your library to the latest version
• Test your code with small amounts before scaling up
• Monitor your API usage to avoid exceeding rate limits

Frequently Asked Questions

What is the python-binance library?
The python-binance library is an unofficial Python wrapper for the Binance exchange API. It provides a convenient way to interact with Binance's REST API using Python code, handling authentication, request formatting, and response parsing.

How do I get API keys for Binance?
You can generate API keys through your Binance account settings. Navigate to the API Management section, create a new API key, and set appropriate security restrictions. Always keep your secret key confidential and never share it publicly.

What are the rate limits for Binance API?
Binance imposes rate limits on API requests to maintain system stability. The limits vary by endpoint type, with weight-based limits for market data endpoints and request-based limits for order endpoints. Check Binance's official documentation for current limits.

How can I handle authentication securely?
Store your API keys in environment variables or secure configuration files rather than hardcoding them. Use the least privilege principle when setting API key permissions, enabling only the necessary features for your application.

What should I do if I encounter API errors?
Implement robust error handling in your code to manage common API errors like rate limiting, authentication issues, and network problems. The python-binance library includes exception classes for different error types that you can catch and handle appropriately.

Can I test my code without risking real funds?
Yes, Binance provides a testnet environment where you can practice with virtual funds. The testnet uses separate API keys and mimics the live trading environment without financial risk. 👉 Get advanced methods for API testing

Conclusion

The python-binance library offers powerful tools for interacting with Binance's cryptocurrency exchange through Python code. From accessing market data to executing trades and managing your account, this library provides comprehensive functionality for both beginner and advanced users.

Remember to always prioritize security when working with financial APIs, implement proper error handling, and test your code thoroughly before deploying it with real funds. With these practices in place, you can build sophisticated trading tools and automation systems using Python and the Binance API.