Pro lessonHow to Evaluate Trading Bots · 4/43 min read

API key safety: connecting a bot without risking your funds

How exchange API keys work and how to set them up safely for bots: trade-only permissions, no withdrawals and an IP whitelist.

To trade on your behalf, a bot connects to your exchange account using an API key. API stands for "application programming interface", a way for programs to talk to each other. An API key is like a special password that lets a program act on your account, within limits you choose.

When you create an API key on most exchanges, you choose what it is allowed to do. Common options are:

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Education, not investment advice. Crypto prices can fall sharply and most retail traders lose money. Practice in DUKOIN uses virtual USD with no real value.