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Author Topic: Security of portfolio tracking apps  (Read 30 times)
Midoproj
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May 24, 2018, 07:53:18 AM
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Hello altogether,

so far I have been tracking my portfolio and every single trade via Spreadsheet. However, as I collect more and more coins I am considering to switch to a portfolio tracking app (Cointracking, Blockfolio, Delta).

As these apps mostly function via APIs, I am a little worried since I can remember that the latest Binance hacking attempt (late Feb, early March, I believe) involved APIs - although I must admit that I am not exactly a tech-literate.

Therefore I wanted to ask, how secure these apps are (especially I was considering Delta) and if I can use them worrilessly?

Regards and thanks
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Andalin
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May 24, 2018, 09:46:19 AM
 #2

You don't have to use DELTA with the API, just enter manually all of your trades (can be a bit long in the beginning to put everything in it, but after you just get used to do it after each trade)

I use DELTA this way, never used the API.
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May 24, 2018, 10:12:10 AM
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You can keep your Binance API's (and most exchanges) read-only. This means that no one can use your API to trade with your account and cause something similar to what happened with he Binance "hack".

Midoproj
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May 25, 2018, 07:31:10 AM
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You can keep your Binance API's (and most exchanges) read-only. This means that no one can use your API to trade with your account and cause something similar to what happened with he Binance "hack".

Thanks a lot, that sounds like the solution I was looking for. Do you happen to know which exchanges support that feature?
mu_enrico
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May 25, 2018, 07:49:25 AM
 #5

You can keep your Binance API's (and most exchanges) read-only. This means that no one can use your API to trade with your account and cause something similar to what happened with he Binance "hack".

Thanks a lot, that sounds like the solution I was looking for. Do you happen to know which exchanges support that feature?

Puting all your coins in the exchanges is a bad idea. They are vulnerable to attack and often fails to protect users' coin. Thus, the best practice is to save your coin in your wallet and use blockfolio or other apps, then input the number of coins manually.

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