What to Check Before Connecting an Exchange API
Before connecting an exchange API, verify the domain, permission scope, revocation process and operational limits.
Key takeaways
- withdrawals must remain disabled
- understand which orders are supported
- test with conservative exposure
What should a careful user verify before acting? Before connecting an exchange API, verify the domain, permission scope, revocation process and operational limits.
Start with the source and timestamp
An exchange connection belongs only inside the authenticated EdgeX application. Grant trading permission only, keep withdrawals disabled, document how to revoke access, and expect rejected or partial orders during difficult conditions.
Translate the idea into account risk
Fees, funding, spread, liquidity and slippage can change the realised result. Market data can also become stale. None of these limitations is removed by automation.
Know when to decline
- Withdrawals must remain disabled. Write down what evidence would satisfy this check and what would make the setup unsuitable.
- Understand which orders are supported. Write down what evidence would satisfy this check and what would make the setup unsuitable.
- Test with conservative exposure. Write down what evidence would satisfy this check and what would make the setup unsuitable.
The final decision belongs to the user, including the decision not to trade. Use the shared risk reminder below for the legal and financial context.
Risk reminder Crypto trading involves substantial risk. Results are not guaranteed. Volatility, fees, funding, liquidity and slippage can affect outcomes.
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