Setting Up Binance API Webhook for Ethereum for Real-Time Market Price Updates

As an avid Ethereum user, you are probably familiar with the importance of staying up to date with market prices. In this article, we will walk you through setting up a webhook to receive live updates from the Binance API, providing you with real-time data on future market prices.

What is a Webhook?

A webhook is an HTTP request that allows you to send data to your application at specific intervals. In this case, we are using it to fetch market price data from the Binance API and update our dashboard accordingly. A successful implementation of the webhook will allow you to receive real-time updates on future market prices.

Prerequisites:

• Create a Binance Developer Account – If you haven’t already, sign up for a Binance Developer Account at [www.binance.com/en/developers]. This is required to get your API keys and access the Binance API.

• Get your API keys – Once you’re logged in, go to the “API Keys” section in your account settings. You’ll need the following:

• api_key for querying data

• api_secret_key for secure data storage (optional)

• Install Node.js and npm – Make sure you have Node.js installed on your machine.

• Choose a webhook library – We recommend using [Node-Webhooks]( to handle webhook requests.

Step-by-step setup:

Step 1: Install the required packages

In your project directory, run:

npm init -y
npm install node-webhooks @types/node-webhooks

This will install Node-Webhooks as a development dependency and its TypeScript types.

Step 2: Create your Binance API endpoint

Create a new file called binance-api.js in the root of your project:

const express = require('express');
const Webhook = require('@types/node-webhooks');
const { Client, ClientOptions } = require('node-webhooks');
const app = express();
// Configure Binance API options
const binanceApiOptions = {
clientId: 'YOUR_BINANCE_CLIENT_ID',
clientSecret: 'YOUR_BINANCE_CLIENT_SECRET',
privateKey: 'YOUR_BINANCE_PRIVATE_KEY', // Optional, but recommended for secure data storage
publicKey: '', // Optional, but can be useful for debugging purposes
};
const clientOptions = {
// Set the update frequency (in seconds)
frequency: 1,
};
// Create a new Binance API client
const binanceClient = new Client(binanceApiOptions);
app.post('/update-market-prices', async (req, res) => {
try {
const { id, result } = req.body;
const data = await binanceClient.getMarketData(id, result);
console.log(data);
// Update your dashboard with the received market price data
res.json({ message: 'Market prices updated successfully' });
} catch (error) {
console.error(error);
res.status(500).json({ message: 'Error updating market prices' });
}
});
app.listen(3000, () => {
console.log('Binance API webhook server started on port 3000');
});

This code sets up a simple web endpoint to receive updates from the Binance API. You will need to replace YOUR_BINANCE_CLIENT_ID, YOUR_BINANCE_CLIENT_SECRET and YOUR_BINANCE_PRIVATE_KEY with your actual API keys.

Step 3: Set up your dashboard

Create a new file called index.html in your dashboard directory:

“`html

Binance API Webhook

Market ID:

Submit