Connecting your exchange API keys to Cryptobots.io is essential for managing your trading bots. This article explains the policy regarding API key disconnections and reconnections, including when a fee applies and what options are available to you.
Connecting Your API Keys to Cryptobots.io
The initial setup of your exchange API keys with Cryptobots.io is always free. This also applies when your API keys naturally expire and require an update. However, if you intentionally disconnect your API keys from your account for any reason, a reconnection fee will be incurred should you decide to return and reconnect them.
Why the API Reconnection Fee Exists
A $300 reconnection fee is applied to discourage the frequent and intentional disconnection and reconnection of API keys. This policy addresses specific issues that can arise from such actions:
Discouraging Unethical Practices: The fee helps prevent situations where some users might exploit the system by disconnecting API keys to take over trades initiated by the Cryptobots.io system. This tactic allows users to keep all profits for themselves, which is strongly discouraged and creates an unnecessary workload for our staff.
Maintaining Trading Strategy Integrity: Frequent disconnections can disrupt the bot’s carefully designed trading strategy. Such disruptions can potentially lead to unexpected losses, impacting overall performance and reliability.
Important: The $300 reconnection fee is a measure to ensure fair usage and maintain the integrity of the Cryptobots.io trading system for all users. It applies specifically to intentional disconnections, not to initial setup or natural key expirations.
Options When Pausing Trading
If you need to temporarily stop your trading activities, Cryptobots.io offers alternatives to disconnecting your API keys that help you avoid the reconnection fee:
Request a Temporary Bot Pause: We recommend requesting a temporary pause for your bot instead of disconnecting your API keys. This action does not count as a disconnection and therefore avoids the $300 reconnection fee.
Choosing to Disconnect: If you choose to intentionally disconnect your API keys and later wish to resume service, you will face the $300 reconnection fee upon returning.
Creating a New Account: As an alternative to paying the reconnection fee, you can create a new Cryptobots.io account. However, be aware that creating a new account will result in the permanent loss of all your historical trading data and any accrued referral benefits associated with your previous account.
We understand that disconnecting API keys may sometimes be necessary. However, unless you intend to permanently cancel the service, please carefully consider these options and the potential consequences. The $300 reconnection fee will apply if you decide to return after an intentional disconnection.
How the Reconnection Fee is Charged
The reconnection fee is processed as follows:
The $300 reconnection fee will be added as an additional item on your profit share invoice.
This will occur at the end of your regular billing period.
The $300 fee will be converted to the currency of your invoice using the USD market rate on the date the invoice is created.
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Still Need Help?
If you have further questions about API key management or the reconnection fee, please contact our support team for assistance.