Connecting an exchange to the Atani trading application is a simple process. All you need, you will take one minute and be explained in detail below.
Process to connect an exchange to Atani
To start the process, you must be in front of your computer and perform the following operations.
First step: Logging into an exchange
The first step in this process is to log in to your exchange. In case you do not have an account, you can follow our tutorial on how to open an account in an exchange. There, we detail this process using Binance. Also, we explain how to verify the account and secure it as much as possible.
In any case, once you have logged into the exchange, you should go to the Connection or API Management section. In Binance, you can access this configuration option directly from your user menu.
Clicking on this option will give you access to create an API connection to manage your exchange from Atani.
Atani Academy – What is an API?
An API (Application Programming Interface) is a special access to a set of functions that can be used by other software as an abstraction or connection layer. In this way, an external application can connect to a particular software or service and use that service from another interface that offers other advanced options for the service to which it has connected.
Creating a name or identifier for new API Key
In Binance, all you have to do is give a name or identifier to the API connection you are creating. Preferably, this name should be easily recognizable as “Atani Binance”. Then, click on the “Create API” button. At this point, you will be asked to confirm the API generation using the authentication methods.
As a result, you will have created a special access via Binance API for control using Atani,. The result is shown in the following screen.
Atani Academy – What is an API Key and Secret Key?
An API Key is a random string of characters that provides an access pass to an API. In short, the API Key can be defined as the user access to an API of a specific service. While the Secret Key is a random string of characters (mathematically related to the API Key) that serves as a “password” for the API Key. Both are created in such a way that only with the exact combination of the API Key and Secret Key, the desired access to the API of a desired service is obtained.
This data will be vital for the second step that will follow.
Second step: Starting the Atani trading application
The second step to connect the exchange to the Atani trading application is to activate the exchange within the application. To do this we must provide the API Key and Secret Key to the Atani application. This in order to successfully connect the exchange. To do this, run the Atani application and go to the “Exchanges” tab.
In this tab you have all the exchanges supported by Atani. From each of them, you can connect an account and control it from Atani. In our case, we are using a Binance account (not Binance.us), so we should select that option.
When we click on it, the option to add the API Key and the Secret Key generated in our first step will open in front of us. You only have to copy and add both keys in the application and finally click on the “Connect Exchange” button.
If all goes well, you will receive a message that the exchange has been successfully connected.
Note
If you encounter any errors during the connection, please check these two cases:An API Key and Secret Key can only be used in one application at a time. So, make sure that the API Key is not in use by another application.If you have checked the first case and the failure still occurs, check your internet connection and restart the application. This failure may be due to slow server response or other Binance API authentication failure.
Third step: Enjoying our exchange in Atani
Now that you have successfully connected the Binance exchange to Atani, you can go to the different tabs of Atani and review the direct connection to Binance that you have activated. This connection will allow you to:
- Access all cryptocurrency pairs that are on Binance.
- Have the same level of liquidity and information that Binance handles. But, within a much cleaner application and with additions that will make your trading operations easier (Alerts, Connection with other exchanges, Charts and analysis tools of various kinds).
- Manage in a much more comprehensive way all the holdings and their balances within this exchange.
- Make buy and sell operations as if you were in native.
- Faster access to information, since the API response is much faster than the web interface, which improves trading opportunities.
In short, Atani makes the day-to-day life of a professional trader much easier. Especially, if you manage many assets and have other exchanges enabled within the platform.
Important aspects of connecting an exchange in Atani
As you have seen, connecting exchanges via API to Atani is very simple. But it doesn’t end there, and that’s why we want to highlight other important aspects of this excellent Atani feature.
- Atani supports multiple exchanges. Currently the application offers support for connecting to more than 20 exchanges (you can enable one or as many as you need at the same time) and we are working to improve the exchange offer in future updates. Our intention is to provide you with the necessary connections to carry out your operations with us without any problems.
- The support for buying and selling operations is different for each exchange. This is basically due to three points:
- The API of the exchange is limited in terms of the level of control of operations.
- The exchange directly does not offer other advanced options via API and only accepts their use in native.
- Atani has not yet implemented the feature (and we are working on it).
Others considerations
In any case it is important that you keep the application updated to enjoy the improvements we introduce.
- In terms of connections, Atani actually allows you to have several accounts of the same exchange connected at the same time. Each connection controls a specific account giving you the ability to operate several accounts in parallel without inconveniences.
- API Keys and Secret Keys are never stored on our servers, and never leave your computer under any circumstances. We especially emphasize this point, because Atani is a non-custodial application. Remember, the data remains under your control at all times.
Security in API connections
Exchanges are aware of two things:
- API Keys are great for offering flexibility and advanced options to their users or professional clients to use their platform the way they want, which is excellent.
- API Keys are a security issue if not handled correctly.
Both reasons are well known by exchange administrators and that is the reason why different security systems have been created to reduce the attack surface of this type of options. In this sense, each exchange has its own solutions and it is good for you to know beforehand what they are, their advantages, disadvantages and how to apply them.
On the other hand, there are also common options that all exchanges apply and others that you can apply to make the use of API Key, a safer experience. In that case, we give you these tips to improve the security of this type of connection.
Reduce API access levels
Most exchanges have the ability to limit API access or privilege access. So, for example, you can configure an API so that it can only read data from the exchange, but cannot place buy or sell orders of any kind.
This can be configure from the exchange’s website and you can increase or decrease the privileges of an API whenever you need to. A good practice is to enable privileged access at one time of the day (when you prepare to trade) and at the end of the session, reduce access to a minimum. This way, you will be protect against unauthorized access to the API.
Never enable withdrawal permissions
Withdrawal permissions allow the user to use the API to make withdrawals of cryptocurrencies within the exchange to a wallet outside the exchange. This is a permission that we at Atani advise against keeping active, as it is leaving the door open for a hacker to steal our API Key in some way, and perform these withdrawal operations, thus stealing our funds in that exchange. Most exchanges have this option and by leaving it disabled you will be gaining a lot in security.
Do not store your API Key and Secret Key anywhere.
A mistake of many users is to copy the API Key and Secret Key (in digital or physical) and save them to keep them “safe”. This is a serious security problem, because if your computer is hacked and that key is obtained, you will be giving access to your funds in that exchange. The same happens if you keep it in physical form.
In any case, if your concern is that the API Key will be lost: fear not. You will be able to recover it at any time if you enter the exchange, in fact, if you lose it, you can create a new one and connect it to Atani, you will not have any problem for it, and you will keep a higher degree of security in your account. Another important point is to reuse the same API Key in other applications, and in this way, you will be expose to less dangers.
Keep your PC and browser clean
Current operating systems and browsers implement many security measures, but they are not perfect. In that case, the best thing you can do is:
- Keep your operating system updated. Remember that each update aims not only to give you new features, but also to fix known security problems.
- Keep a good antivirus and antimalware installed and updated. The most common security problems on computers are viruses and malware. So having antivirus and antimalware installed will give you a line of defense against them. This is a general rule for Windows, Linux and Mac OS.
- A firewall to control network connections. One security measure that many people forget about is firewalls. These softwares are design to control the incoming and outgoing connections of our computer. That is to say, they control the information that is receive and sent to the Internet. This software gives us the security that only those we know have access to the Internet and to our computer.
- Update your browser and keep it clean. Web browsers are perhaps one of the most used softwares in our computers and, the ones that receive less attention than they deserve. At Atani we recommend keeping your browser updated, using well-known and secure extensions (or not having any at all), clearing the history and cache every time you launch and close the browser, and using DNS over HTTPS (DoH) to avoid certain phishing attacks and scams. This will not only keep your connection secure when using the exchanges, but will also keep you secure in any connection you make with the browser.
Did you like this content?
If you think this Atani post is interesting, share it!