In this blog post, I am going to show you how to successfully connect your 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 into 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…
Below are the 6 exchanges currently available to connect on Yanda. If you would like to connect to one of these other than YoBit, click the button the view the API connecting instructions.
2. Click on the YoBit logo at the top and click 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 YoBit account to Yanda.
NOTE: This is being updated – We are revising the YoBit API set up slides.
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 YoBit account to Yanda using API keys)
Let’s move on.
4. If you already have a YoBit account login, If you do not have an account already set up click the blue link ‘Don’t you have an account with Binance? Create it now.’
Once you have either logged in or created your new YoBit trading account you now need to find your API key settings.
5. Click on the profile button and then click on API Keys.
6. Here you need to create a new key. Click the blue button.
Note: Selected Info & Trade & Deposit – You don’t need to enable ‘Withdraw’ and we suggest not to.
7. With YoBit your API is generated right away, if you have already added 2-factor (recommended) you may have to use the Google Authenticator and enter a code to confirm. Go to your email and confirm the email.
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 buy and selling cryptocurrencies.
8. Confirm activation by clicking the link.
9. API has been successfully activated!
Now select your profile top right and on the drop down menu select API keys again.
We are nearly there. You will now see the ‘API Key’ and the ‘Secret Key’. If at some stage you would like to deactivate this key or use a different one you can simple click disable.
10. Copy & Paste the above ‘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 YoBit trading exchange account.