How do I create and manage Bybit's API key?

Understanding Bybit API Key Creation

1. Log in to your Bybit account through the official website. Navigate to the user profile section, typically located in the top-right corner, and select “API Management” from the dropdown menu.

2. Click on the option labeled “Create API.” You will be prompted to set a name for your API key, which helps identify its purpose—such as trading bot integration or portfolio tracking.

3. Complete two-factor authentication (2FA) verification using your registered device. This step ensures that only authorized users can generate sensitive access credentials.

4. Choose the IP address restrictions for your API key. For enhanced security, bind the key to specific IP addresses. If left unrestricted, the API can be accessed from any location, increasing exposure to potential misuse.

5. After confirming your settings, Bybit will generate both an API Key and a Secret Key. These keys must be copied and stored securely because the Secret Key will not be shown again after this session.

Configuring API Permissions

1. During the creation process, you are given the option to assign permissions to your API key. These include read-only access, trade execution, and withdrawal capabilities.

2. For most use cases such as monitoring positions or analyzing market data, selecting “Read-Only” is sufficient and minimizes risk.

3. If you intend to automate trades via third-party platforms or bots, enable “Trade” permission. Never enable withdrawal permissions unless absolutely necessary, and even then, limit it to trusted environments only.

4. Review the selected permissions carefully before finalizing. Once saved, these cannot be altered—you would need to delete and recreate the key with updated settings.

5. Assign labels or notes to distinguish between multiple API keys, especially if managing several integrations across different services.

Managing and Securing Your API Keys

1. Regularly audit your active API keys through the API Management dashboard. Check for unfamiliar entries or outdated keys linked to discontinued tools.

2. Revoke any unused or suspicious API keys immediately. Deactivation removes access instantly and prevents unauthorized actions on your account.

3. Rotate your API keys periodically by generating new ones and updating them in connected applications. This practice reduces long-term vulnerability.

4. Monitor API usage logs if available. Unusual patterns such as high-frequency requests or access from foreign IPs may indicate compromise.

5. Store API credentials in encrypted storage solutions rather than plain text files or spreadsheets. Consider using dedicated password managers compatible with API secrets.

Frequently Asked Questions

Can I modify the permissions of an existing API key?No, Bybit does not allow modification of permissions after the API key is created. To change access levels, you must create a new key with the desired settings and deactivate the old one.

What should I do if my Secret Key is exposed?Immediately log into your Bybit account, navigate to API Management, and delete the compromised key. Generate a new one with identical or more restrictive settings and update it in all integrated systems.

Is it safe to use my API key with third-party trading bots?It can be safe if the bot provider is reputable, uses secure connections (HTTPS), and you restrict the API key’s permissions. Avoid granting withdrawal rights under any circumstances.

How many API keys can I create on Bybit?Bybit allows users to create up to 10 API keys per account. Ensure each serves a distinct function and maintain clear documentation to avoid confusion during management.