MEXC can be applied to automatic trading etc. by using API key. By using this key, you can use the MEXC system. These keys can be obtained by creating an account.
What is an API key?
An API key allows an external system to use MEXC program functions. It is quite convenient because you can use MEXC functions for external trading systems and acquire transaction information in MEXC. It is a very convenient function because users can use the functions of MEXC more conveniently.
How to get an API key
First, open the MEXC home screen. Click the red frame in the upper right corner of the screen to expand the menu. Click “APIs”.
The screen for detailed API settings will be displayed. The IP address to be linked to is required. After entering the information, click “Create” to create an API key. After that, the security authentication page will be displayed, so enter the necessary information. Enter the verification code you received in the email and enter the two-step verification code to complete the creation.
After completing the security authentication, you will see your API key. By copying and pasting it into the system you want to link with, it will be linked and you will be able to use it. Up to 30 API keys can be obtained.
What you can do with the API
What can you do by generating and working with these API keys?
Most people who use the API are using automated trading systems. Unlike discretionary trading, where you buy and sell at your own discretion, automatic trading is a system trade that eliminates mental influences, so it tends to be more stable and profitable. However, if there is a strong trend, the risk is high because it will result in a full deficit.
With the API, you can take data such as a system that determines how much money is flowing in the market and liquidation that determines how many people have cut losses. Being able to acquire this kind of data will be important in considering the strategy for the next trade.
By using the API, you can build a system that sets conditions and sends emails when certain conditions are met. For those who are always busy and can’t see the chart, by setting an alert, you will be able to know the entry timing.
Precautions when using the API
There is also a caveat to the MEXC API. Please pay attention to the following points.
If you have an API key, you can acquire asset status and trade without a login ID or password. Conversely, if you tell this key, there is a risk that it will be used without a login ID and password. Once hacked, it can easily be stolen.
date of expiry
The generated API key has an expiration date. Please note that it is only for 90 days. However, you can extend it, so be sure to extend it before it expires.
If you are forced to buy fraudulent tools, your API key may be stolen and your assets may be illegally withdrawn. Just as Chinese-made products have made headlines in recent years by stealing personal information, so have the tools.