How do I create and manage my OKX API key?

Understanding OKX API Key Creation

1. Log in to your OKX account through the official website or mobile application. 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 enter a name for your API key, which helps identify its purpose, such as 'Trading Bot' or 'Portfolio Tracker.'

3. Set up IP binding as an added security measure. This restricts API access to specific IP addresses. If you're using a static IP, enter it here; otherwise, leave it blank with full awareness of the increased risk.

4. Choose the permissions carefully. OKX allows granular control over what the API can do—options include reading account information, placing trades, withdrawing funds, or managing sub-accounts. Only enable permissions that are absolutely necessary.

5. Complete identity verification if prompted. For higher permission levels, especially withdrawal access, OKX may require two-factor authentication or additional verification steps before issuing the key.

Securing Your OKX API Keys

1. Never share your API secret or passphrase with anyone. These credentials are displayed only once upon creation. Store them securely using encrypted password managers rather than plain text files.

2. Enable IP restrictions to limit where your API key can be used from, reducing the risk of unauthorized access even if the key is compromised.

3. Avoid granting withdrawal permissions unless strictly required. Most trading bots and analytics tools only need read and trade permissions, making withdrawal access an unnecessary vulnerability.

4. Regularly audit active API keys. Remove any that are no longer in use or associated with discontinued services. Dormant keys pose long-term security risks.

5. Monitor your account activity logs for unusual behavior. Unexpected trades or data requests may indicate a compromised API key, prompting immediate revocation.

Managing API Access Across Applications

1. Use separate API keys for different applications. One key for your grid trading bot, another for portfolio tracking software, ensures isolation and easier troubleshooting.

2. Rotate API keys periodically. Even without signs of compromise, replacing old keys with new ones every few months strengthens overall security posture.

3. Test new API configurations in demo or paper trading environments first. Verify connectivity and functionality before deploying keys in live trading scenarios.

4. Integrate error handling in your scripts or bots. Common issues like rate limiting or invalid signatures should trigger alerts instead of repeated failed attempts that could lead to temporary blocks.

5. Keep documentation of each API key’s purpose, permissions, and associated IPs. This aids in audits and accelerates response during security reviews.

Frequently Asked Questions

What should I do if I lose my API secret?Immediately delete the compromised key and generate a new one. Since the secret is not recoverable, any lost key must be treated as potentially exposed and revoked promptly.

Can I modify the permissions of an existing API key?No. OKX does not allow changes to permissions after creation. To adjust access rights, you must create a new API key with the desired settings and deactivate the old one.

Why is my API request being rejected?Common causes include incorrect timestamp formatting, signature mismatches, exceeding rate limits, or using an IP address not whitelisted in the key settings. Double-check your implementation against OKX API documentation.

How many API keys can I create on OKX?OKX allows users to create up to 50 API keys per account. Be mindful of this limit when setting up multiple strategies or integrating with various third-party platforms.