Bybit has an API key. If you want to automate Bybit trading using third-party apps, etc., you will need an API. However, some people don’t know how to get the API, so I’m writing an article.
What are APIs?
API is a term often used in software development work. API is used in various applications, and Bybit also uses API. If you’re a programmer, you should be familiar with this term, but others may not. API is an abbreviation for Application Programming Interface. It is a mechanism for calling and using the general-purpose routine functions and managed data of a program from other external programs.
Bybit API Features
There are many things you can do by setting Bybit’s API. The advantage of setting the API is that you don’t have to build a program from scratch yourself, so you can use the function just by referring to it. In other words, even if you are not a programmer, you will be able to use the functions. By setting up Bybit’s API, you can check the latest price of virtual currency on your own application and strengthen security by introducing a high-level security system.
automated trading system
This API is often used by people who operate automated trading systems. By setting the API function, you will have the function to start automatic trading. By diverting API functions, you can also make a profit without manual work yourself. Furthermore, it is possible to be able to check virtual currency information sites.
Difficulty changing settings
By introducing the API, there is no need to recreate the program from scratch. On the other hand, however, you may find the configuration cumbersome. In order to introduce APIs and change settings, various operations must be performed, which can be troublesome for those who do not know much about it. You don’t need as much knowledge as a programmer, but you do need some programming knowledge.
API setting method
Now, I will explain the details of how to select and set up the API (secret key) on Bybit, an overseas cryptocurrency exchange. First of all, you will need to open an account, so please start by opening an account. Please refer to the article below. Also, please note that in order to use this function, two-factor authentication must be enabled as a step. You can also basically download your transaction history, so you can calculate your profits and losses and use it for tax returns.
Please login. Click the avatar on the top right of the home screen to open the menu, then click “API”.
By specifying and clicking Create new key, you can read the file and create a dedicated key. You can also set permissions.
Enter the name of your API key. Any name is OK. Next, let’s configure API key permissions.
The API key permission settings will be individually set below, including whether to read or write. After adding the IP address, click “Submit”.
Next, perform two-step verification. Open Google Authenticator and enter your verification code. After entering the verification code, click “Confirm”. The API key will now be added. The API key creation is now complete. Once it is enabled, you can actually use it in conjunction with other tools. ByBit users will find it very easy to manage parameters, trades, orders, and positions using this tool. It is very convenient if you can use python etc.
How to add API
Once you create one API, it doesn’t mean you can’t create more. You can also add them freely depending on the timing. The adding method is exactly the same as the acquisition method above. Regarding the category and information of the key to be added, you will need to enter the necessary information in the same way as when creating it for the first time. You can also publish and share.
API management
There is also the case that you no longer need the API key after creating it. In that case, it is also possible to delete the API key. You can also delete it by clicking the yellow pen in the “IP address is associated” item.
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