KuCoin transactions and exchanges have something called an API key, which users can obtain and use, so we will explain the procedure. API refers to a service that shares part of the service’s functions with an external party and can be used freely, and users can freely utilize the functions for trading, making it a very useful tool.
What is an API key at a virtual currency exchange?
API key is an abbreviation for Application Programming Interface. By creating an API, a No will be issued and some of the service’s functions will be available for external use. By using the API, users will be able to use the service smoothly and win trades.
Automatic trading will be possible
By using the API key, automatic trading will be possible. In the case of crypto assets, the volatility is high, so automatic trading is not recommended, but by introducing an API, the program will automatically trade, so you can make profits on your own. There is also the risk of big losses.
Public API
Virtual currency exchanges have something called a public API. Public APIs do not require any kind of authentication and are functions that can be used by any user. Refers to the function that allows you to use the price and order status of crypto assets presented by the exchange.
Private API
Private API exists as an antonym for public API. The private API allows you to obtain new orders, cancellations, balance information, etc. of users. In the case of a private API, the functionality provided is limited as it is not possible to obtain the functionality unless you log in and authenticate.
Advantages of KuCoin API key
KuCoin API keys have the following advantages:
Rich user benefits
KuCoin offers commission discounts, referral rewards, and even interest-free loans to traders who engage in quantitative trading for users who utilize our API. There are many benefits to using it.
You can check trading functionality in a test environment
KuCoin allows you to run apps developed with API functions in a test environment, so you can try them out and decide whether to use them. The test environment can be developed using Java, PHP, and Python programming languages.
KuCoin API key acquisition method and procedure
In order to obtain an API key, you will first need to open an account. You can obtain an API key by opening an account and logging in. To open an account, you only need a phone number or email address. Please complete the KYC verification as much as possible. Also, let’s complete Google authentication, transaction password settings, and anti-phishing code settings.
First, let’s log in. Select the API service from “More” on the home screen. When using a service using API, select and use one of two API key connection types.
API-based trading
This function is for those who use API to conduct direct transactions or develop applications, and requires three types of security settings.
Works with third-party apps
Necessary if you want to link with trading apps and portfolio management apps provided by third parties.
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You can create an API key by clicking the API Create Key button.
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First, select API-based trading and set an arbitrary API name and API password. API names can be up to 24 characters and passwords can be between 7 and 32 characters, with no spaces allowed. Below, we will limit the functionality of the app that connects to the API using Trade. Select only the functions you need, such as spot trading and futures trading.
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If you want to put IP restrictions on the API key, check “IP restrictions” and proceed with entering the IP address. After completing the IP restriction, reCAPTCHA authentication will be displayed, so please check it.
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We will proceed with three types of security authentication. Please set your transaction password, email verification, and two-step verification. Once the security authentication is complete, an API key will be created.
You can also select the tab for linking with third-party apps. Please enter the name of the third-party app and API name, and set the API password. Next, limit the functionality of the app that connects to the API (spot trading, futures trading, margin trading, etc.). reCAPTCHA authentication will be displayed, so check it and proceed to the next step to proceed with security authentication. When linking with third-party apps, all you need to do is authenticate your transaction password.
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Since an API key will be created, the linked app will be able to link with KuCoin using the API key. This setting is also possible with the smartphone app, so you can choose between a web browser and the app.
There is a disclaimer
There is a disclaimer with API keys. KuCoin cannot be held responsible even if this API is misused. The exchange cannot guarantee even if any damage occurs during trading, so please use it at your own risk.
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