Connecting algorithmic trading programs or portfolio tracking tools (like CoinTracking) to your exchange accounts requires “API keys.” We explain how to configure API links securely without exposing your account to theft.
What is an API Key?
A set of cryptographic credentials (API Key and Secret Key) that allows external programs to query your account data or execute trades.
Limiting API Key Permissions (Least Privilege Rule)
When generating API keys, always restrict the access rights to the bare minimum required by the tool.
- Enable Read: Required for balance trackers. Highly safe.
- Enable Trade: Mandatory for algorithmic execution programs.
- Disable Withdraw (Critical): Never check this box. Allowing withdrawals lets hackers drain your exchange balances if the tool is compromised.
Basic Setup Flow
- Navigate to the “API Settings” tab in your exchange account dashboard.
- Generate a new key pair and configure access limits (Read & Trade only).
- Copy the “API Key” and “Secret Key” into your trading program. Note: The secret key displays only once during setup.