FAQ: Trading with Exchange API Keys

To place trades through the CoveTrader platform, you must:

  1. Have a funded account at one or more supported exchanges (Coinbase Pro, Kraken, Bitstamp).
  2. Link exchange API key(s).

In this document, we will explain how to link exchange API keys.

Please note that it is very important to keep your passphrase and secret key private and secure.

* Note: Bitfinex will become available through CoveTrader in late September.

Bitfinex:

  1. Visit https://www.bitfinex.com/api and make sure you are signed-in.
  2. Click "Create New Key"
  3. Under Orders, toggle "Create and cancel orders" from Off to On. Other options can be left as-is. Do not enable withdrawals.
  4. Make up your own label, then click "Generate API key"
  5. Enter 2fa and Authenticate.
  6. Follow instructions, which require email confirmation to "Create Key".
  7. Copy API Key, which is the public key, and you will need during a later step.
  8. Copy API Key Secret and store somewhere safe, as you will need it during a later step and it will not be accessible to you later.

CoveTrader:

  1. Visit https://trader.covemarkets.com/trade
  2. Might need to sign-in to your account, if not already signed in.
  3. Click on Settings icon in the top-right.
  4. In the pop-up box, under Exchange Keys, click Add API Key next to Bitfinex.
  5. Complete the Bitfinex Exchange Keys form that appears:
    1. API Key: This is the public key that you copied under step 7 above.
    2. API Secret: This is the key you copied under step 8 above.

Congratulations! You are now ready to trade on Bitfinex through your CoveTrader account!

$11272.73 BTC/USD - Bitstamp – Buy and sell Bitcoin and Ethereum

Bitstamp:

  1. Visit https://www.bitstamp.net/account/security/api/ and make sure you are signed-in.
  2. Click "New API Key" in the top-right.
  3. Complete the "API Access" page:
    1. Skip the filter section under "Generate New API Key"
    2. Under Permissions:
      1. General permissions: Select both "Account balance" and "User transactions"
      2. Do NOT select any options under Withdrawals, Deposits, or Transfers
      3. Orders: Select "Open orders", "Cancel order", "Buy limit/market orders", and "Sell limit/market orders"
    3. Click "Enter 2FA & Submit"
  4. Enter 2fa
  5. Copy Key, which is the public key, and you will need during a later step.
  6. Copy Secret and store somewhere safe, as you will need it during a later step and it will not be accessible to you later.
  7. Click Activate.
  8. Email will be sent, so find this email and click "Activate API key".

CoveTrader:

  1. Visit https://trader.covemarkets.com/trade
  2. Might need to sign-in to your account, if not already signed in.
  3. Click on Settings icon in the top-right.
  4. In the pop-up box, under Exchange Keys, click Add API Key next to Bitstamp.
  5. Complete the Bitstamp Exchange Keys form that appears:
    1. API Key: This is the public key that you copied under step 5 above. You can access it at any time at https://www.bitstamp.net/account/security/api/.
    2. API Secret: This is the key you copied under step 6 above. If you do not have it, you will need to create a new key and start the process over with Bitstamp.

Congratulations! You are now ready to trade on Bitstamp through your CoveTrader account!

Coinbase Pro:

  1. Visit https://pro.coinbase.com/profile/api and make sure you are signed-in.
  2. Click "+ New API key" in the top-right.
  3. Complete the "Add An API Key" form that appears:
    1. Portfolio: Ignore.
    2. API key nickname: Choose anything. This is for your own reference.
    3. Permissions: Select "View" and "Trade". But you do not need to select "Transfer".
    4. Passphrase: Copy this somewhere safe, as you will need it during a later step and it will not be accessible to you later.
    5. IP Whitelist: Ignore.
    6. Click Create Key.
  4. Enter 2fa
  5. Copy API Secret key and store somewhere safe, as you will need it during a later step and it will not be accessible to you later. Click Done.
  6. Copy the public key listed, which you will need during a later step.

CoveTrader:

  1. Visit https://trader.covemarkets.com/trade
  2. Might need to sign-in to your account, if not already signed in.
  3. Click on Settings icon in the top-right.
  4. In the pop-up box, under Exchange Keys, click Add API Key next to Coinbase.
  5. Complete the Coinbase Exchange Keys form that appears:
    1. API Key: This is the public key that you copied under step 6 above. You can access it at any time at https://pro.coinbase.com/profile/api.
    2. API Secret: This is the key you copied under step 5 above. If you do not have it, you will need to create a new key and start the process over with Coinbase.
    3. Passphrase: This is the key you copied under step 3.4 above. If you do not have it, you will need to create a new key and start the process over with Coinbase.

Congratulations! You are now ready to trade on Coinbase Pro through your CoveTrader account!

Kraken:

  1. Visit https://www.kraken.com/u/settings/api and make sure you are signed-in.
  2. Click "+ Generate New Key" below API Key Management
  3. Complete the "Generate New Key" page
    1. Key Description: Choose anything. This is for your own reference.
    2. Nonce Window: Ignore.
    3. Key Permissions:
      1. Funds: Select "Query Funds"
      2. Orders & Trades: Select all ("Query Open Orders & Trades", "Query Closed Orders & Trades", "Modify Orders", "Cancel/Close Orders")
      3. Ledger: Make no selections.
      4. Other: Select "Export Data" and "Access WebSockets API"
    4. Do not enable Key Expiration, Query Start Date/Time, or Query End Date/Time.
    5. Click Generate Key.
  4. Copy API Key, which you will need during a later step.
  5. Copy Private Key and store somewhere safe, as you will need it during a later step.
  6. You will need to add a static password, so visit https://www.kraken.com/u/security
  7. Under API keys, find the key description for the key you just created and toggle "OFF" to "ON".
  8. Next to Static Password, select "SET IT UP".
  9. Check "Creating new orders", "Closing open positions", and "Cancelling open orders". Do NOT select "Depositing funds" or "Withdrawing & Transferring funds"
  10. Choose password and store somewhere safe, as you will need it during a later step. Select "Save".

CoveTrader:

  1. Visit https://trader.covemarkets.com/trade and make sure you are signed-in.
  2. Click on Settings icon in the top-right.
  3. In the pop-up box, under Exchange Keys, click Add API Key next to Kraken.
  4. Complete the Kraken Exchange Keys form that appears:
    1. API Key: This is the public key that you copied under step 4 above. You can access it at any time at https://www.kraken.com/u/settings/api.
    2. API Secret: This is the key you copied under step 5 above.You can access it at https://www.kraken.com/u/settings/api.
    3. Passphrase: This is the password you created in step 10 above. If you do not have it, you will need to create a new key and start the process over with Kraken.

Congratulations! You are now ready to trade on Kraken through your CoveTrader account!

Ready to trade?

In order to place trades through CoveTrader, you must have a Trading widget open. Click on the + above any widget and select Trading.

The Trading widget has an Order Entry section. You can either populate the order via clicking on a price in any Order Book, Best Bids & Offers, or Recent Trades widget. Or you can enter the info directly in the Order Entry ticket.

Good luck trading!

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