API keys: Gateway to your account

An API key is a password giving a bot (or platform like AI Traders) access to your exchange account. Mishandle them, and you lose everything.

What's an API key?

API (Application Programming Interface) = communication channel between app and exchange.

Example:

• You want AI Traders to open orders on Binance
• AI Traders requests your API key
• You generate key in Binance settings
• Give key to AI Traders
• Now AI Traders can trade on your behalf

API key types

1. Trading API (trade key)

Lets bot:

• Open and close orders
• Adjust positions
• Use margin (ALWAYS disable this!)

2. Data API (read-only key)

Only allows:

• Check prices
• See your trade history
• Check balance

No trading rights.

How to safely generate a key?

Step-by-step on Binance

1. Open account settings

• Binance → Account (person icon top right)
• API Management

2. Create new key

• Click "Create API"
• Name: "AI Traders Trading Bot"

3. CRITICAL: Limit key permissions

When you see permissions window:

✓ ENABLE:

• Spot Trading
• Margin Trading (ONLY if you use it)
• Reading info

✗ DISABLE (IMPORTANT!):

• Withdrawals (funds removal)
• Future/Margin Transfer
• Futures Trading
• Vault

If you don't disable Withdrawals, hackers can steal everything.

4. Add IP restriction (if available)

• Find your IP (google.com → "my ip")
• Add it to exchange settings
• Now key only works from your IP

If you're home Wi-Fi, this might change. Add a range (e.g., 192.168.x.x).

5. Set key expiration

Example: 90 days. After that, key auto-disables. Create new. Extra security.

How to use in AI Traders

1. Go to Settings → API Binance
2. Paste API Key (public) — not secret
3. Paste Secret Key — THIS IS SECRET, never show!
4. Save

NEVER share Secret Key!

If you sent Secret Key anywhere (chat, email), immediately:

1. Delete key in Binance
2. Create new key
3. Update in AI Traders

What can go wrong?

Scenario 1: Hacker stole Secret Key

Hacker can:

• Open order on your entire balance
• Dump on most volatile pair
• Close in loss
• Steal $10,000 in minutes

Protection:

• Use 2FA (two-factor auth) on Binance
• Limit key permissions (no margin, no withdrawals)
• Use IP restrictions

Scenario 2: AI Traders got hacked

Even if you trust the platform, it can be breached.

Protection:

• Use separate key for each service
• Limit each key's rights (different key = different permissions)
• Don't give full rights to one key

Scenario 3: You forgot about old key

You created key for something, forgot about it.

Protection:

• Name key clearly ("AI Traders Bot", "Grid Trading", etc.)
• Check active keys monthly in Binance
• Delete unused keys

Security checklist

• ✓ API key with limited rights (no withdrawals, no margin)
• ✓ IP restrictions enabled
• ✓ 2FA enabled on Binance
• ✓ Secret Key not saved in notes/email/cloud
• ✓ Secret Key never shared in chats
• ✓ Key expiration set (90 days max)
• ✓ Monthly audit of active keys

If you're paranoid (smart move)

Use a separate exchange account with small balance ($1,000-5,000) for AI Traders. Keep main capital on different account. This is "VM" (virtual machine) for experiments. Main funds stay safe.

It takes time, but your main position is protected.

Summary

API keys = powerful and risky. Guard them like email password. Hacker with key = all your money gone in minutes.

Properly configured key = bot trades safely without access to your funds.