Cryptocurrency Development Tutorials, Guides & Insights

• Contract Address: Replace '0xTokenContractAddress' with the address of the ERC-20 token (e.g., USDT, DAI, or any other ERC-20 token).
• Wallet Address: Replace '0xYourEthereumAddress' with the wallet address whose token balance you want to query.
• ABI: We are using a minimal ABI with just the balanceOf function, which is all that’s required to query the token balance.

Once you’ve added the code, run the script:

We will use Axios to make HTTP requests to the Etherscan API. To install Axios, run the following command in your project folder:

npm install axios

Once your script is set up, run it from the command line:

node getBalance.js

The Ethereum address "0x000000000000000000000000000000000000dead" is a special placeholder address, often referred to as a burn address. It is not used for transactions or wallet management, but for a specific function in the cryptocurrency ecosystem—burning tokens.

Burning tokens refers to the process of sending cryptocurrency tokens to an address from which they cannot be retrieved. Tokens sent to this address are effectively removed from circulation forever. The address ends with "dead," signaling its purpose of making tokens unreachable.

This function places a stop-loss order at $29,000 for a buy order of 0.01 BTC.

Webhooks can be used to receive real-time notifications about specific events, such as order executions. Although Pybit doesn't directly manage webhooks, you can easily integrate webhooks into your Python application using Flask or Django.