API what is it?
API is stands for Application Programming Interface. API is a set of subroutine definitions, communication protocols, and tools for building software. In layman's term , API is act like a messenger that takes request and tell the system what you want to do after that system will response back to you.
An example of an API use most of the crypto users is the CoinMarketCap website. CoinMarketCap use exchanges API to compare the price, volume and market capabilities of every crypto coin exist. CoinMarketCap ranked every coin based on there market cap and volume based on the data that CoinMarketCap get on exchanges.
Using API is useful to traders
Crypto Exchanges API are very useful to crypto traders. Using API allow us to interact directly in the exchanges like receive live pricing and be able to execute trades. Also some professional traders use an algorithm to make a trading signal.
Most of the leading crypto exchanges such as Bittrex, Binance , Bitfinex and Coinbase Pro offers useable API to its customers.
Importing crypto exchanges API in Bituniverse
BitUniverse is one of the first portfolio apps which supports auto tracking your balance and profit from exchanges or wallets. It also supports switching to be fiat currency, BTC and ETH based data. Also supported more than 100 exchanges and Bitcoin/Ethereum wallet auto tracking.Bituniverse app is available in both IOS and Android mobile devices (reach 1 million downloads for both devices).
By importing crypto exchanges API directly in Bituniverse app allow us to track our account funds and also do some trade.
Bituniverse app offers too a trading bot (Grid Trading Bot) that automate our trade and earn profit in swinging market.
The latest version of Bituniverse app is allow us to copy trade of an user on its strategy that's why Bituniverse app is also called a social trading app.
Try the Bituniverse Grid trading bot for free by sign up using my invite link and start grid trading bot in supported exchanges.
Our API keys secured in Bituniverse?
Our API keys are stored in the Amazon Virtual Private Cloud (VPC) that can't access though the Internet by others. The only way to access the server is to connect with a mediation server (API Key service) by the certain interface. Hackers can’t access the database via attacking the server under this circumstances.
If you upload your API keys in Bituniverse it will directly uploaded to Amazon VPC.
Bituniverse implemented asymmetric cryptography algorithm into that process.
Asymmetric cryptography, also known as public key cryptography, uses public and private keys to encrypt and decrypt data. With that proccess , even hackers get the encrypted API Key but they can’t crack it without the private key.
Conclusion
Using API's are very useful for everyone that allow us to interact in the system in what manner. But also don't forget to secure our API keys in well mannered too. Bituniverse app is very useful to traders and also Bituniverse secured our API keys in good.