I didn't expert on trading especially on that but as far as I know, giving API to someone else is not too much risk if you have set a 2FA authentication of withdrawal your fund. Giving API key(Application Program Interface) only allows the program of your choice to communicate with your trading exchange or wallet. So, I guess there is no problem with that unless if they are a shitty one.
Monitor always your fund and it's better if you didn't share your API full control, you can still trade without depending on them.
Topic: How to give API access for limited withdrawal? (Read 131 times)
As far as I know when you give your api access to something you give full on control of what you allow. So, if you give withdrawal access that means you are giving full control over your withdrawals and you should not do that in any case at all, not even for a software you yourself write you should give that access to any api you own.
As soon as your api or generally that exchanges apis get jeopardized you are giving all of your money to someone else. Don't do it in any circumstances. Just focus on trading parts and use those because worst case scenario people can use it to buy a shitty coin and make it pump and make money from it and you will lose a lot of money but not all of it and not go back to zero. It is a risky move that doesn't pay as much as you think it will.
As soon as your api or generally that exchanges apis get jeopardized you are giving all of your money to someone else. Don't do it in any circumstances. Just focus on trading parts and use those because worst case scenario people can use it to buy a shitty coin and make it pump and make money from it and you will lose a lot of money but not all of it and not go back to zero. It is a risky move that doesn't pay as much as you think it will.
From what i saw exchanges offer 3 types of apis: *view only *trade only and with withdrawal avaliable, but i've never seen limited withdrawal option.
Keep your funds safe, give your API keys only to someone you deeply trust
Keep your funds safe, give your API keys only to someone you deeply trust
By limiting the number of wallets, you mean being able to withdraw a coin and not the others for example?
It all depends on the exchange but from I've seen, you can't really do that. If you give the API key for that, any kind of withdrawal can be done.
It all depends on the exchange but from I've seen, you can't really do that. If you give the API key for that, any kind of withdrawal can be done.
Dear colleagues,
My funds are placed in a kind of trust management and I gave API access to a person who rules the trade strategy.
Since it’s an arbitrage strategy, funds have to transfer quickly between my accounts in a different exchanges and I have to give the option for withdrawal through API access to the manager.
So is it possible to limit number of wallets for withdrawal (only my accounts on other exchanges) from the safety reason?
Thanks in advance for your help!
My funds are placed in a kind of trust management and I gave API access to a person who rules the trade strategy.
Since it’s an arbitrage strategy, funds have to transfer quickly between my accounts in a different exchanges and I have to give the option for withdrawal through API access to the manager.
So is it possible to limit number of wallets for withdrawal (only my accounts on other exchanges) from the safety reason?
Thanks in advance for your help!
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