Read-Only API Keys: The Safer Way to Track Exchange Portfolios
Read-only exchange API keys let you track balances and trades without giving withdrawal or trading permissions to portfolio software.
Connecting an exchange account to a portfolio tracker can feel risky at first. That concern is healthy. In crypto, access control matters. The safest approach is to use read-only API keys, which allow software to view balances, trades, deposits, and withdrawals without permission to place orders or move funds.
An API key is a credential created inside your exchange account. Depending on the permissions you enable, it can do different things. Some keys can trade. Some can withdraw. Some can only read account data. For portfolio tracking, tax reports, and performance analysis, read-only is the permission level you want.
The most important rule is simple: never enable withdrawals for a portfolio tracking API key. A tool that only needs balances and transaction history does not need withdrawal rights. If an app asks for withdrawal access to track your portfolio, treat that as a major red flag.
Trading permissions are also unnecessary for most portfolio dashboards. If you are using a dedicated trading terminal, trade permissions may be optional for execution. But for analytics, tax reporting, alerts, and portfolio monitoring, read-only access is enough.
Good operational security also means naming your API keys clearly, using IP restrictions when supported, rotating keys periodically, and deleting old keys you no longer use. Exchanges often provide a permissions screen where you can verify exactly what a key can do. Take the extra minute to check it.
Two-factor authentication should remain enabled on the exchange account itself. API security does not replace account security. Use app-based 2FA instead of SMS where possible, avoid reusing passwords, and never paste keys into websites you reached through ads or unsolicited links.
TheCryptoHub is built around the non-custodial principle: you keep custody of your assets, and connected exchange data is used for visibility, reporting, and analysis. Read-only API connections allow you to see the full picture without turning a dashboard into a custody risk.
Security in crypto is rarely about one perfect tool. It is about reducing permissions, reducing trust, and checking assumptions. Read-only API keys are one of the simplest ways to make portfolio tracking safer while still getting the data you need.