In this post, I am going to show you how to successfully connect your Poloniex Crypto Exchange to your new Autocryptobots 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 the 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 other software.
To trade automatically via Autocryptobots, you need to copy/paste the API keys from the various exchanges. Once you put your API keys onto Autocryptobots, you will be able to automate your trading sessions across multiple exchanges without moving your cryptos outside the exchange!
API Security:
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 sic 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…
Exchange available to connect on Autocryptobots.
1. If you already have a Poloneix account login, If you do not have an account already set up click the blue link ‘Don’t you have an account with Poloniex? Create it now.’
1. Click on the settings button and then click on API Keys.
6. Click create API Key!
Note: An API key can be generated with different permissions granted. We highly encourage you to generate API Key without Withdrawal Permissions Granted. This can be worded slightly differently depending on the exchange you are connecting.
7. You have 15-Minutes to click the confirmation link sent to your inbox.
If you have already enabled 2-Factor authentication 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 buying and selling and Hodling cryptocurrencies.
8. Click the link to confirm activation of your Poloniex API Key.
9. Once your Key is confirmed, You will see the ‘API Key’ and ‘API Secret’. Go back to Autocryptobots >> User API Section and follow the last step, step 10.
Again Note This: We highly encourage you to generate API Keys without Withdrawal Permissions Granted.
10. Copy & Paste your ‘API Key’ and ‘API Secret’ to into the boxes on Autocryptobots, and click ‘save’ and you are all set!
Time to enjoy the power of Automated Trading!