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What is an API?
Application Programming Interface or API allows systems to share data with each other. An API sets the rules for these systems to communicate. A good visual is to think of an API as a waiter at a restaurant. You, the user, place an order with that waiter and tell them what kind of data/access you want them to connect. It is the process many applications use for account registration/login via your Google or Twitter credentials.
In the case of syncing Hedgehog with your exchange two keys are created. An ‘API Key’ to label your connection and a ‘Secret Key’ to secure this connection. The ‘Secret Key’ is not the same as your “Wallet” or “Master” key as it only enables interactions you choose between two applications. It still should not be shared with anyone.
These keys serve two purposes. The first, is a unique identifier to label your account on the exchange. The second, is to set the level of access you would like to allow. Many exchanges have API options in their settings or account profile pages. You create this connection and choose the amount of interaction you would like to occur. An example would be a ‘General’ or ‘Read Only’ access which would display your balances, or a ‘Trade’ level access which would enable you to exchange assets.
Using this tool allows you to decide how you want to manage your portfolio for each exchange you add. As always, Hedgehog takes your security very seriously and you can see our policy at our Security page.