In this blog post, I am going to show you how to successfully connect your crypto trading exchange to your new Autocryptobots automated trading account.
First, I want to go over real quick what an API key is and the reason we use them.
API stands for Application Programming Interface.
Why do we use API keys
You should see an API Key as a tool that lets you access a specific set of data from everywhere. The EU made clear to banks that they have to allow customers to get their API keys to enhance transparency and trust.
Cryptocurrency exchanges follow the same regulation and therefore are allowing traders to generate API keys from their setting pages.
You need API keys when you want to create a link between your account with exchanges and another software.
To trade automatically via Autocryptobots, you need to copy/paste the API keys from the various exchanges. Once you put your API keys into Autocryptobots, you will be able to automate your trading sessions across multiple exchanges without moving your cryptos outside the exchange!
To let you have full control over the data you want to share, each API keys set can be generated with different permissions granted to the keys themselves.
If you create your keys with “read balance” permission only, the only thing you will be able to do with the API is to read your balance.
To trade with Autocryptobots you need to grant “read balance” and “trade” permission.
You never have to grant “withdrawal” permissions to your keys so that nobody will be able to withdraw your funds from the exchange without your explicit permissions!
Now that we know more about APIs, let me show you where we can find them and how to connect your exchanges to Autocryptobots.
Autocryptobots currently lets you connect with six different exchanges. You only need to connect one to automate crypto trading, but you can, in fact, connect all six and trade between all of them from Autocryptobots. There is now no need to have multiple tabs open to trade on multiple exchanges. That’s a win for us all…
Connect to Coinbase Pro, click the button the view the API connecting instructions.
1. You will now be taken to the API section. Here you will find illustrated slides on how to connect your Coinbase Pro account to Autocryptobots.
Let’s move on.
1. If you already have a Coinbase Pro account login, If you do not have an account already set up click the blue link ‘Don’t you have an account with Binance? Create it now.’
6. Now enter your 2-factor authentication.
8. You may need to confirm a new login from your email.
9. Ok, now once you are in go to your profile (tip right) then click ‘API’.
An API key can be generated with different permissions granted. We highly encourage you to generate API Key without Withdrawal Permissions Granted.
10. To generate API keys, you need to have the authentication enabled.
You can download the Google Authentication Application available on IOS and and Android. I have all my account connect on my mobile app even Coinbase for buy and selling cryptocurrencies.
11. This box will pop up. You can now enter the code from the authentication application.
12. Once your Key is confirmed, You will see the ‘API Key’ and ‘API Secret.
13. You will need your Pass Phase so remember this. Paste it in Notes or write it down.
Again Note This: We highly encourage you to generate API Keys without Withdrawal Permissions Granted. Give your key a name and click ‘Create API Key’.
14. Copy your API key highlighter in Red below.