What is an API key?
If you’ve connected an exchange to Altrady, you’ve probably created an “API key” without thinking too much about it. Here’s what it actually is, and why it’s safe to use.
Think of it as a permission slip
An API key is a special code you generate on your exchange (like Binance or Bybit). It’s a bit like handing someone a permission slip instead of your house keys: it lets Altrady do specific things on your behalf, without ever seeing your actual login.
Altrady uses this key to:
- See your balances
- Place orders for you
- Cancel orders for you
Your exchange password is never involved, and Altrady never receives it. You log in to your exchange only to create the key, then that key is what Altrady uses going forward.
Altrady can never withdraw your funds
When you create an API key, your exchange lets you choose which permissions to grant it, typically:
- Read: see your balances and orders
- Trade: place and cancel orders
- Withdraw: move funds out of your account
Altrady only ever needs Read and Trade permissions. It never asks for or needs Withdraw access. This means that even in the worst-case scenario, nobody can use your Altrady connection to move funds out of your exchange account.
When you create your key, only enable Read and Trade on the exchange side, and leave Withdraw switched off.
You’re always in control
Because the API key lives on your exchange, not with Altrady, you can revoke it at any time:
- Go to your exchange’s API management page.
- Delete or disable the key you created for Altrady.
The moment you do this, Altrady’s access is cut off instantly. There’s no waiting period and nothing extra to do on the Altrady side.
Setting it up is easy
You don’t have to create keys manually if you don’t want to. Fast Connect creates the API key for you automatically, so you don’t have to go digging through your exchange’s settings. See Connect with Fast Connect for details.
Whichever way you connect, your key is stored encrypted, never in plain text. Learn more in How Altrady protects your API keys.
For step-by-step instructions for your specific exchange, check out Connecting your exchange.