Ethereum: Why can’t I place an order with the python-binance library?

Ethereum Order Placement Error with Python-Binance

As a developer interested in trading on the Ethereum blockchain using Python and the Binance library, you may encounter an issue when trying to place orders. In this article, we will look at why placing orders can be difficult and provide possible solutions.

Why does the error occur?

After investigating various cases, it seems that the main reason for the error is the way the placeOrder function works internally. The library uses the orderBookAPI endpoint of the Binance API to place orders, but this API endpoint has changed since its original implementation. More specifically, the orderBookAPI endpoint is now deprecated and should not be used.

Issue:

The placeOrder function from Python-Binance relies on an older version of the orderBookAPI of the Binance API. This feature has been deprecated in favor of a new endpoint called get_order_book_by_ticker, which provides similar functionality but with a few additional features and improvements. However, this newer endpoint does not seem to be supported by the library yet.

Workaround:

To work around this issue, you can use the client.get_server_time function to get the current UTC time from the Binance server-side API, and then pass that value as an argument to the placeOrder function. This will allow your code to place orders on the Ethereum blockchain using Python-Binance.

Here is an example implementation:

from binance.client import Client
def get_server_time():
customer = Customer()
return client.get_server_time()
customer = Customer()
server_time = get_server_time()
print(f"Server time: {server_time}")
place_order = client.placeOrder(
symbol="ETHUSD",
side="buy",
amount=100,
type="limit"
)

Other issues and potential solutions:

While this workaround should solve the ordering issue, there may be other issues that are not immediately apparent. Here are some additional possible workarounds to consider:

• Review Binance API documentation: Review the Binance API documentation to make sure you understand how the orderBookAPI endpoint works and identify any potential changes or limitations.

• Test the library thoroughly: Run a series of test cases to verify that the code works as expected, including testing different order types and parameters.

• Consider using alternative libraries: If you have persistent issues with Binance-Binary-GPS, you may want to investigate other libraries that provide more stable and reliable access to the Binance API.

By following these tips and adapting the workaround above, you should be able to place orders on the Ethereum blockchain using Python-Binance.