Have an account on Bitsgap, but don't know how to connect your Kraken exchange?
No worries, in this article we will show you how to create and configure your Kraken API key so you can connect your exchange account to Bitsgap!
What do you get by connecting your exchange account to Bitsgap
With Bitsgap you will have access to the all-in-one trading platform where you can connect all your cryptocurrency exchange accounts under one unified interface. You will be able to do exactly what you would do on your regular exchange account but with some really cool trading tools!
How do you connect your exchange account and what is API key?
Every exchange has an option to create a unique API key for an account. This API key will allow us to communicate with your exchange account and process your trading from the Bitsgap interface.
Consider it as your username and password but limited to check your balance and execute your trading decisions. By using the API key you will not give any information about yourself nor any access to change your account settings or perform withdrawals. Everything will be limited based on your API settings.
1. Log in to Kraken
Log in to your Kraken account or create a new one.
2. Go to API page
From your account Settings (top-right corner) navigate to API page.
3. Create your first API key
On the API Key Management page, please click [Generate New Key].
4. Label your API key
Give your API key any name (it is your personal choice) so you can easily understand that this key is connected to your Bitsgap account.
5. Match API key permissions
Edit your permissions as in the example below. These permissions will allow us to read your history, current balance and process execute trades on your exchange account. When you are ready, click [Generate Key].
Here is the list of required permissions:
Query Funds on
Deposit Funds off
Withdrawal Funds off
Query Open Orders & Trades on
Query Close Orders & Trades on
Modify Orders on
Cancel/Close Orders on
Query Ledger Entries on
Export Data off
Access WebSockets API on
Key Expiration off
Query Start Date/Time off
Query End Date/Time off
6. Copy your API key and Private key
Now your Kraken trading key is successfully created and ready to be connected to our platform! Please copy your API key and Private key somewhere safe before you add it to Bitsgap.
7. Go to Bitsgap > My Exchanges
Log in to your Bitsgap account and go to My Exchanges page where you can find an option to connect your Kraken account. Click [Add Exchange].
8. Select kraken exchange from the list
From the pop-up window you need to select kraken. This will open you a window where you can add your API keys for Kraken exchange
9. Enter your API key and Private key
Paste your Kraken API key and Private key and click [Connect]. Now your Kraken account has been successfully connected and you are all set!
Want to know more about what you can do on Bitsgap? Check our other article - What is Bitsgap?