API Setup

Connecting your exchange accounts to Profitsla is essential for live trading and accessing real-time market data. This guide covers the complete process of setting up and managing exchange API connections.

Supported Exchanges

Profitsla currently supports two major cryptocurrency exchanges:

Binance

• Spot Trading: Buy and sell cryptocurrencies directly

• Futures Trading: Trade cryptocurrency derivatives with leverage

• Global Reach: Available in most countries

• High Liquidity: Large trading volumes and tight spreads

Bybit

• Spot Trading: Direct cryptocurrency trading

• Futures Trading: Derivatives trading with advanced features

• Competitive Fees: Low trading fees and funding rates

• Advanced Tools: Professional trading features

API Connection Process

1

Create Exchange API Keys

Binance API Setup

• Log in to Binance: https://binance.com

• Navigate to API Management: Account → API Management

• Create API Key: Click "Create API" button

• Set API Label: Give your API a descriptive name (e.g., "Profitsla Trading")

• Configure Permissions:

  • ✅ Enable Reading: Required for balance and position data

  • ✅ Enable Spot & Margin Trading: For spot trading bots

  • ✅ Enable Futures: For futures trading bots

  • ❌ Enable Withdrawals: Not recommended for security

• IP Restrictions: Add Profitsla server IPs for security

• Save API Key and Secret: Store securely

Bybit API Setup

• Log in to Bybit: https://bybit.com

• Navigate to API: Account & Security → API Management

• Create New Key: Click "Create New Key"

• Set Key Name: Descriptive name for identification

• Configure Permissions:

  • ✅ Read-Write: For trading operations

  • ✅ Contract Trading: For futures trading

  • ✅ Spot Trading: For spot trading

  • ❌ Wallet: Not needed for trading

• IP Whitelist: Add authorized IP addresses

• Save Credentials: Store API key and secret safely

2

API Validation Process

Profitsla performs comprehensive validation when connecting your API:

graph TD
    A[API Connection Request] --> B[Validate Credentials]
    B --> C[Check Permissions]
    C --> D[Test Balance Access]
    D --> E[Verify Trading Permissions]
    E --> F[Configure Position Mode]
    F --> G[Store Encrypted Credentials]
    G --> H[Connection Success]

Validation Steps (sequential):

1

Credential Verification

Test API key and secret.

2

Permission Check

Verify required permissions are enabled.

3

Balance Access

Confirm ability to read account balances.

4

Trading Test

Validate order placement capabilities (dry run).

5

Position Configuration

Set up proper trading modes.

6

Security Storage

Encrypt and store API credentials.

API Configuration Options

Trade Types

Paper Trading

• Virtual Funds: Uses simulated balance (10,000 USDT default)

• Risk-Free: No real money involved

• Real-Time Data: Uses live market prices

• Full Features: All trading features available

• Perfect for Testing: Validate strategies before going live

Live Trading

• Real Funds: Uses actual exchange balance

• Real Risk: Actual profits and losses

• Exchange Integration: Direct order execution

• Full Responsibility: User responsible for all trades

Market Types

Spot Trading

• Direct Ownership: Buy and hold actual cryptocurrencies

• No Leverage: 1:1 trading ratio

• Lower Risk: Cannot lose more than invested

• Long-Term Suitable: Good for holding strategies

Futures Trading

• Leverage Available: Up to 20x leverage

• Short Selling: Profit from price declines

• Higher Risk: Potential for larger losses

• Advanced Features: Margin trading, funding rates

Security Best Practices

Exchange Security Settings

1. Two-Factor Authentication: Enable 2FA on exchange accounts

2. Withdrawal Restrictions: Disable API withdrawal permissions

3. Email Notifications: Enable trade and login notifications

4. Regular Monitoring: Check account activity frequently

Troubleshooting API Connections

Common Connection Issues

Error	Cause	Solution
"Invalid API credentials"	Wrong API key/secret	Verify credentials from exchange
"Insufficient permissions"	Missing trading permissions	Enable required permissions on exchange
"API already exists"	Duplicate API key	Use different API key or update existing
"Balance access denied"	Missing read permissions	Enable reading permissions
"Trading disabled"	Trading permissions not enabled	Enable spot/futures trading permissions

Exchange-Specific Guides

Binance Setup Checklist

• Create API key with descriptive label

• Enable "Enable Reading" permission

• Enable "Enable Spot & Margin Trading" (for spot bots)

• Enable "Enable Futures" (for futures bots)

• Set IP restrictions for security

• Test API connection in Profitsla

• Verify balance access

• Configure position mode (Hedge recommended)

Bybit Setup Checklist

• Create new API key with clear name

• Set "Read-Write" permissions

• Enable "Contract Trading" (for futures)

• Enable "Spot Trading" (for spot)

• Configure IP whitelist

• Test connection in Profitsla

• Verify trading permissions

• Set appropriate risk limits

Next Steps

After successfully connecting your exchange API:

1. Test with Paper Trading: Start with virtual funds to test the connection

2. Create Your First Bot: Deploy a simple TP/SL strategy

3. Monitor Performance: Watch how your bot performs

4. Gradually Scale: Increase investment as confidence grows

5. Go Live: Switch to live trading when ready

Ready to start trading? Continue to:

• Bot Creation

• Paper Trading Setup

• Supported Exchanges