Bitcoin Forum

What do you think about the idea of giving access via API to your exchange account to a professional trader (who shows profits even in this hard times), who will manage it and receive some % from your profits? Is it a common practice to do so? Do you know someone who tried this approach?

As far as i remembered, someone already asked this question to the community a couple months ago or even a year and it is not 'unique'.
many people refused to do this because it very risky. We can not believe someone if it is related to money, people changes because of it and if they are a 'professional trader', it is very unlikely for them to do it because they can get a lot of money from their trade,so why would they do this ?
also, something happened before to the users that shared their API to 3rd party or bot. The bot stopped working properly and pumped the price into 1BTC from 0.0001BTC or around that.

The first rule is that you don't trust anyone, specially if it concerns money. So If I'm in your shoes I wouldn't just give my access to anyone, even to those so called expert or professional traders. Chances are, $10 to $10 million, it doesn't make any difference, people will go and swindle anyone for that kind of amount, so just be careful.

Is this your alt[1]? Both accounts created two similar topics[2] in the same period. Or is this just a spam?
Do not trust anyone when it comes to money, what ensures that he will not scam you? you can’t do anything then "will delete your comments and the problem is over."
Why is profit accepted in this way if he is an expert trader and can make a profit at all times?
No one can guarantee your profits, everyone who says that is not an expert trader.
Good luck.

[1] https://bitcointalk.org/index.php?action=profile;u=1192341
[2] https://bitcointalk.org/index.php?topic=5047988.msg46739343#msg46739343

How did you come in contact with the person? Have you met with them or just a random person? You really need to check all that. I have once received a mail from someone who claims to be a professional trader, but the only thing that seemed suspicious to me was how he got my email, cause I’m very sure I never gave out my email to anyone like that, so it’s likely to be scam. It’s your choice, if you think he’s legit and will help get you some profit, then go ahead.

there are just too many things wrong with your statements here! lets start with this one.
a "professional trader" is not going to show you his finances and what he is doing, how much he has and how much he makes. why should he? would you reveal this kind of information online? nobody would!
so that leaves only one possibility: scam attempt by showing some fake or at least modified stats to fool you into giving him your keys.

I don't have any idea what is a professional crypto trader was like but the fact that he "might" be a professional, he won't handle small funds to trade and would ask a lot of BTC to start. I think you are pointing out traders that are with the same caliber with J.P. Morgan or Goldman Sachs traders? "Professional it is"


So it was profitable? seems unclear because the fact that "The bot stopped working properly" but still be able to "pumped the price into 1BTC from 0.0001BTC or around that". What really happens with this? Interesting  ;D

This statement raises many questions in mind about the trader asking you for API. I wonder why he shouldn't make accounts on different exchanges which support API and why doesn't he use his own ?
It is obviously attempt to scam you or he might ise it in wrong way

the only thing he can do is drain your Deposit, or another option, pick it up yourself through the pump of an unknown coin

I have a friend who takes money into management. It works according to this scheme. But you must understand that only you are responsible for who you give access to your account to. The consequences can be very sad.

NO, if i be you i wouldn't do that. Traders not always get profit and when he get profit sometime it wouldn't happen to you. It is better to manage your assets by yourself, maybe you can ask his suggestion only and do it by yourself.

There are some Bitcoin fund manager that offer service to manage money of their customer but we didnt know about legitimasi of this company,  and look too risky to put money there.  Other way to follow strategy of professional trader is by join copy trading program that offer by some trusted broker,  like eToro and FX open. 

Leave it, you only need believe in you and prepare for the worst. Trading/ investment is just method but full control is player right, not depend bot, premium signal or professional opinion. Using it meaning you're already loss, bad for your skill, future and asset account. Learn it direct into real market but always follow your rules, that's the right thing to do.

Those are actually the questions the OP should really be asking himself at this point which I am pretty sure from the way he sounded; he possibly just bumped into some stranger telling him to drop his API. Rather than even giving a stranger your API, why not just make use of bots instead.

Sure, bots may have their own flaws too sometimes,  but one thing with funds is that you can only trust yourself, but as long as you give someone an access to your API as a person, you give the person full access to trade your funds and in that case, you are screwed when it gets to the wrong hands.

There are some exchanges (I think Huobi) that allow you to segment your funds. So you could limit the access you give to a particular trader if you wanted to go down that route.

Giving your personal or sensitive information to your trading account will just make your hard earned money to disappear in an instant. In crypto industry, the only person you can trust id yourself. Besides, how will you learn if you will just keep relying from other people to trade your funds? Your not just minimizing the posibility to earn money but you slso can be compared investung to those scam platform thst offers high return just like bitconnect.