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Creating a Kraken API Key for Your Crypto Trading Bot

If you're using a crypto trading bot like Gunbot on Kraken, setting up an API key is a fundamental step. This guide will walk you through the detailed process of creating a Kraken API key, ensuring that your bot can securely and efficiently interact with the Kraken exchange.

Step-by-Step Guide​

  1. Log into Kraken: Begin by logging into your Kraken account. Make sure that your account is secured with two-factor authentication (2FA) to protect your trading activities.

  2. Access API Settings: After logging in, navigate to 'Security' and then select 'API' from the menu within your account settings. This section allows you to create and manage API keys, which are essential for automated trading with your crypto trading bot.

  3. Initiate API Key Creation: Click on 'New API Key' to start the process. This API key will enable your trading bot to interact with the Kraken platform, executing trades and accessing account data as needed.

  4. Configure Your API Key:

    • Description: Provide a clear and descriptive name for your API key, such as "Gunbot Trading Key". This helps you identify the key later, especially if you have multiple keys for different purposes.
    • Permissions: Carefully select the necessary permissions for your API key. Common permissions for a trading bot include:
      • Query Funds: Allows the bot to check your balance.
      • Query Open Orders & Trades: Enables the bot to retrieve information about your open orders and trading history.
      • Modify Orders: Grants the bot permission to place, modify, or cancel orders.
    • Be cautious about enabling withdrawal permissions unless absolutely necessary, as this can expose your funds to higher risks.

  5. Set Custom Nonce Window: To avoid issues related to nonce values, especially if you experience time sync issues, set the Custom Nonce Window to a large number, such as 888888888. This helps prevent potential API call rejections due to nonce errors, ensuring smoother operation for your bot.

  6. Finalize API Key Setup: Review all your settings to ensure they are correct. Double-check the permissions and nonce settings. Once you are satisfied, save the settings to complete the creation of your API key. Kraken will provide you with the API key and a secret key, which you will need to securely store and enter into your Gunbot configuration.

Kraken API Key Creation

You can access Kraken's API settings directly here: Kraken API Management.

Setting up your Kraken API key properly is crucial for secure and efficient trading with your crypto trading bot. Whether you're using Gunbot or another crypto trading bot, a well-configured API key is the foundation for successful automated trading. With the correct setup, your bot will be able to execute trades, monitor your account, and manage orders seamlessly, ensuring a smooth trading experience on the Kraken exchange.

Step Up Your Kraken Trading with Gunbot​

Want to step up your trading on Kraken? Gunbot makes it easy to automate and customize your strategy on Kraken’s platform. See Gunbot in action as a Kraken Trading Bot.