Restricted API keys for crypto bots: a safer setup for traders in Pakistan

Portfolio apps, tax tools and trading bots all ask for an API key. Handing one over is like giving a spare key to someone who will let themselves in while you are away, so the important question is which doors that key opens. All four big exchanges, Binance, OKX, Bybit and Bitget, let you choose permissions and restrict where a key can be used from. Set those options carefully and a leaked key becomes an inconvenience rather than a disaster. This walkthrough covers creation, permissions, IP binding and cleanup.

Create a separate key for each tool

Open API management from the account or profile menu on your exchange. Give each key a label that names the specific tool, for example tracker-readonly or gridbot-spot. Separate keys mean you can revoke one without breaking the others, and logs show which tool made which request. The exchange will ask for two-factor confirmation; complete it in the app rather than from a link in an email.

Grant the smallest set of permissions

Read-only is enough for trackers and tax software. Bots need trading permission, sometimes limited to spot or futures. Withdrawal permission should stay off for any third-party service; a bot has no reason to move coins off the exchange. Some platforms also offer transfer permissions between sub-accounts, which deserve the same caution. Screenshot the permission page after saving so you can later confirm nothing was changed.

Bind the key to known IP addresses

If the tool runs on a server with a fixed IP, enter that address in the IP restriction field. A key restricted this way is useless to someone who copies it onto another machine. Exchanges often shorten the lifetime of unrestricted keys or warn about them, so read the notice on the creation screen. Your home internet connection may change addresses frequently, which makes binding less practical for desktop apps.

Review and revoke on a schedule

Once a month, open API management and compare the list with tools you still use. Delete keys for services you abandoned, and rotate keys for active ones by creating a new key, updating the tool, then removing the old one. If you see trades you did not expect, revoke the key immediately and change your account password. Never paste the secret into chat groups or support tickets.

Risk boundary: Pakistan Crypto Guide

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Scenario checkpoint

• Give every API key a label naming the single tool that uses it, so revocation affects only that tool.
• Keep withdrawal permission switched off on all keys shared with bots, trackers or tax services.
• Enter a fixed server IP in the restriction field whenever the tool runs from a stable address.
• Compare the API key list with tools in use every month and delete anything abandoned.