In this post, I am going to show you how to successfully connect your Poloniex Crypto Trading Exchange to your new Yanda.io automated trading account.
First, I want to go over real quick what an API key is and the reason we use them.
API stands for Application Programming Interface.
Why do we use API Keys:
You should see an API Key as a tool that lets you access a specific set of data from everywhere. The EU made clear to banks that they have to allow customers to get their API keys to enhance transparency and trust. Cryptocurrency exchanges follow the same regulation and therefore are allowing traders to generate API keys from their setting pages.
You need API keys when you want to create a link between your account with exchanges and another software.
To trade automatically via Yanda, you need to copy/paste the API keys from the various exchanges. Once you put your API keys onto Yanda, you will be able to automate your trading sessions across multiple exchanges without moving your cryptos outside the exchange!
To let you have full control over the data you want to share, each API keys set can be generated with different permissions granted to the keys themselves.
If you create your keys with “read balance” permission only, the only thing you will be able to do with the API is to read your balance.
To trade with Yanda you need to grant “read balance” and “trade” permission.
You never have to grant “withdrawal” permissions to your keys so that nobody will be able to withdraw your funds from the exchange without your explicit permissions!
Now that we know more about APIs, let me show you where we can find them and how to connect your exchanges to Yanda.
Yanda currently lets you connect with six different exchanges. You only need to connect one to automate crypto trading, but you can, in fact, connect all sic and trade between all of them from Yanda. There is now no need to have multiple tabs open to trade on multiple exchanges. That’s a win for us all…
Exchange available to connect on Yanda.
2. Click on the Poloniex logo at the top and click to connect. It will highlight green.
3. You will now be taken to the API section. Here you will find illustrated slides on how to connect your Poloniex account to Yanda.
You can follow these step exactly – or you can continue reading this blog post and I will keep on track and list all the steps for your to follow below. Or if you want to, you can watch this video (how to connect your Poloniex account to Yanda using API keys)
Let’s move on.
4. If you already have a Binance account login, If you do not have an account already set up click the blue link ‘Don’t you have an account with Poloniex? Create it now.’
Once you have either logged in or created your new Poloniex trading account you now need to find your API key settings.
5. Click on the settings button and then click on API Keys.
6. Click create API Key!
Note: An API key can be generated with different permissions granted. We highly encourage you to generate API Key without Withdrawal Permissions Granted. This can be worded slightly differently depending on the exchange you are connecting.
7. You have 15-Minutes to click the confirmation link sent to your inbox.
If you have already enabled 2-Factor authentication you can download the Google Authentication Application available on IOS and and Android. I have all my account connect on my mobile app even Coinbase for buying and selling and Hodling cryptocurrencies.
8. Click the link to confirm activation of your Poloniex API Key.
9. Once your Key is confirmed, You will see the ‘API Key’ and ‘API Secret’. Go back to Yanda.io >> Poloniex API Section and follow the last step, step 10.
Again Note This: We highly encourage you to generate API Keys without Withdrawal Permissions Granted.
10. Copy & Paste your ‘API Key’ and ‘API Secret’ to into the boxes on Yanda, and click ‘Connect Now’ and you are all set!
Time to enjoy the power of Automated Trading!
Now, you are all set to start automating your crypto trading with Yanda.
To double check that everything has worked, go to the Yanda dashboard and look at the ‘Total Value’ of your portfolio. You will now see the total balance of your Poloniex trading exchange account.