How AlphaSet Trades on Your Behalf Using API Keys
When connecting AlphaSet to your exchange account, you'll need to create an API key. For many people hearing about this for the first time, it's an unfamiliar concept — and the natural question arises: am I handing control of my account over to a third party?
The answer is no. So what exactly is an API key? Let's break it down below.
What is an API key?
An API key is a string of characters that an exchange issues to you, allowing external applications to interact with your account. Think of it as a spare key — but unlike your master key, you can precisely limit what that spare key is allowed to do.
Major exchanges like Bybit, BingX, and Bitget all allow you to create API keys with specific permissions. You can choose: view-only balance access, permission to place trading orders, or permission to withdraw funds.
Why does AlphaSet only need order-placement permission?
AlphaSet needs to place buy and sell orders on your behalf — that's how the engine works. AlphaSet never needs to withdraw funds or transfer assets out of your account.
When you create an API key with order-placement permission only and grant that key to AlphaSet, AlphaSet gains the ability to buy, sell, and cancel orders on your account — which is exactly how the AlphaSet algorithm "works" your account for you. AlphaSet is not granted deposit or withdrawal permissions, so it cannot move funds or transfer assets anywhere. Your capital stays on the exchange at all times.
How can you add an extra layer of security?
Most exchanges allow you to restrict an API key to specific IP addresses — known as IP whitelisting. When this feature is enabled, the API key can only be used from AlphaSet's servers; no one else can use it even if they obtain the key string.
AlphaSet recommends enabling IP whitelisting when creating your API key. Setup instructions are available in each exchange's documentation and in AlphaSet's connection guides.
Disconnect at any time
You can delete your API key directly on the exchange at any time, without contacting AlphaSet. The moment the API key is deleted, the engine stops operating entirely. You remain in full control, from start to finish.
Learn more about AlphaSet and join the waitlist at https://alphaset.org/en/waitlist
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