Hey
I am using now the classic api (sign in) to send and receive crypto on my website. Now i want to exchange the received crypto and send to another one or keep it like that.
Which api do you think is the best for me please ? Exchange ? Commerce ?
Hi @Asmitta! We appreciate your enthusiasm in using Coinbase Cloud APIs and we’d be glad to assist you. We would like to inform you that with your intended use case of exchanging the received crypto and sending it to another one, we would actually like to suggest that you utilize the new Advanced Trade APIs instead. Advanced Trade on Coinbase is our advanced trading platform that is intended for the more experienced trader and it offers a secure and easy way to buy, sell, and trade digital assets online across various trading pairs. Hence, being a trading platform within Sign In with Coinbase, you do not need to sign-up for a new account to begin utilizing the trading features of Advanced Trade.
In detail, you could utilize the /orders endpoint of Advanced Trade in order to exchange/trade your crypto asset, by placing either a market or limit order. Orders can only be placed if your account has sufficient funds. Once an order is placed, your account funds will be put on hold for the duration of the order. How much and which funds are put on hold depends on the order type and parameters specified. To learn more about Advanced Trade, you may visit this help center article. You may also refer to this documentation for more information about its APIs.
Now, once your assets are already exchanged/traded to the crypto asset of your choice, you may now go back to utilizing the /send money endpoint of Sign in with Coinbase to have it sent either to a network address for any Coinbase supported asset (on-chain), or email address of the recipient (off-chain). No transaction fees are required for off-blockchain cryptocurrency transactions. Remember: Only if the address belongs to a Coinbase user, and the Receiver has opted into Instant sends in their privacy settings, can you choose to send the payment off-chain. To learn more about off-chain and on-chain transactions, you may visit these help center articles:
- https://help.coinbase.com/en/coinbase/trading-and-funding/cryptocurrency-trading-pairs/how-to-send-and-receive-cryptocurrency
- https://help.coinbase.com/en/coinbase/trading-and-funding/sending-or-receiving-cryptocurrency/instant-sends
We hope we are able to clarify your concerns. Please feel free to reply back to this thread if you have further questions.
Have a great day!
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Thank you for such a detailed and clear explanation
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