EXCHANGE GUIDE

Exchange Settings

Learn how to connect your cryptocurrency exchanges to Guac with our beginner-friendly guide to API keys and exchange configuration.

Connecting Your Exchanges

Setting up your exchange connections is the first step to unlocking the full potential of Guac's trading platform. This guide will walk you through the process of creating API keys, configuring the right permissions, and connecting your exchanges securely.

Understanding API Keys

API keys are like special passwords that allow Guac to securely connect to your exchange accounts without requiring your actual login credentials. Here's what you need to know:

What Are API Keys?

API keys consist of a public key (API Key) and a private key (Secret Key). Together, they allow secure, programmatic access to your exchange account.

Security First

Never share your API Secret Key with anyone. Guac encrypts your keys using AES-256 encryption and never stores them in plain text.

Permissions

You can control what actions Guac can perform on your behalf by setting specific permissions when creating your API keys.

Withdrawal Access

Guac never requires withdrawal permissions. Always disable withdrawal access when creating API keys for trading platforms.

Step-by-Step API Key Setup

While each exchange has a slightly different process for creating API keys, the general steps are similar across most platforms:

01

Log into your exchange account

Make sure you have 2FA enabled on your exchange account for additional security before creating API keys.

02

Navigate to API settings

Look for "API Management," "API Keys," or "Developer Settings" in your account or security settings.

03

Create a new API key

Give your API key a descriptive name like "Guac Trading Bot" to easily identify it later.

04

Set appropriate permissions

Enable "Read" permissions to view balances and "Trade" permissions to execute trades. Never enable withdrawal permissions.

05

Set IP restrictions (optional but recommended)

For enhanced security, you can restrict API access to specific IP addresses. Contact Guac support for our current IP ranges.

06

Copy your API Key and Secret Key

Store these securely as the Secret Key is typically shown only once. You'll need both to connect to Guac.

07

Enter keys in Guac platform

Paste your API Key and Secret Key in the Guac platform's exchange connection section.

Finding Exchange-Specific Guides

For detailed, exchange-specific instructions, search for "[Exchange Name] API key creation guide" or visit our Help Center for step-by-step tutorials for popular exchanges.

Exchange-Specific Considerations

Different exchanges have unique features and requirements when setting up API connections. Here are some important notes for popular exchanges:

Binance

  • Enable "Enable Reading" and "Enable Spot & Margin Trading" permissions only
  • Consider using Binance's "Restricted Access" feature to limit API functionality
  • API keys created on Binance.com won't work on Binance.US and vice versa

Coinbase Pro

  • API keys are created in the Coinbase Pro interface, not regular Coinbase
  • Set the "Trade" permission to "View and Trade" for automated trading
  • Coinbase Pro has stricter rate limits than some other exchanges

Kraken

  • Kraken uses a "Master Key" system with configurable permissions
  • Set "Query Funds" and "Create & Modify Orders" permissions
  • Consider setting a "Nonce Window" if you experience connection issues

KuCoin

  • KuCoin requires setting specific permissions for each trading pair
  • Enable "General" and "Trade" permissions for full functionality
  • KuCoin API keys expire after 90 days by default; set to "Never" for continuous use

Using Sub-Accounts

Many exchanges offer sub-account functionality, which can be useful for organizing your trading activities. Here's what you should know about using sub-accounts with Guac:

Benefits of Sub-Accounts

  • Strategy Isolation: Run different trading strategies in separate sub-accounts to track performance independently.
  • Risk Management: Limit the capital exposed to automated trading by allocating only a portion to a sub-account.
  • Organizational Clarity: Separate long-term holdings from active trading funds for clearer portfolio management.
  • Tax Reporting: Simplify tax reporting by keeping different trading activities separate.

Limitations to Consider

  • Additional Setup: Each sub-account requires its own API key setup and configuration.
  • Transfer Delays: Moving funds between sub-accounts may involve delays and extra steps.
  • Feature Limitations: Some exchanges restrict certain features on sub-accounts.
  • Higher Complexity: Managing multiple sub-accounts increases overall complexity.
Pro Tip: Sub-Account Strategy

Consider creating a dedicated sub-account for Guac's automated trading with a fixed percentage of your total portfolio. This approach allows you to maintain control over risk exposure while benefiting from automated trading strategies.

Troubleshooting Connection Issues

If you encounter issues connecting your exchange to Guac, here are some common problems and solutions:

Invalid API Key Format

Ensure you've copied the entire API key and secret without any extra spaces or characters.

Insufficient Permissions

Check that you've enabled both "Read" and "Trade" permissions for your API key.

IP Restrictions

If you've set IP restrictions, make sure you've included Guac's server IPs in the allowlist.

API Key Expiration

Some exchanges set expiration dates for API keys. Check if your key has expired and create a new one if needed.

2FA Requirements

Some exchanges require 2FA for API key creation. Ensure you've completed all security steps.

Rate Limiting

Exchanges limit how many API calls can be made. If you're using multiple services, you might hit these limits.

Still Having Issues?

Our support team is ready to help you connect your exchanges and get started with Guac.

Contact Support