Your funds are safe when using PowerTrader! No one, not even PowerTrader, can withdraw funds with the connection made by the bot to your personal Kucoin account! You have complete control of your money at all times, and we will never require you to send us your investment money to be “locked away”.
Kucoin allows outside programs to connect to accounts through a system called an API. APIs are extremely secure systems for exchanging data between computers and servers.
The Kucoin API has 3 Permissions that can be enabled or disabled:
General – This permission enables account balances to be viewed through the API. Must be enabled for Coin Collector to work.
Trade – This permission enables trading and Inner Transfers. Inner Transfers are simply moving funds from Main acct to Trade acct or vice versa on your own Kucoin account, NOT WITHDRAWING TO EXTERNAL ACCOUNTS!!!! Must be enabled for Coin Collector to work.
Transfer – This permission enables withdrawing from the Kucoin account through the API. WE DO NOT RECOMMEND EVER ENABLING THIS PERMISSION! Enabling this permission is the only way someone can steal your funds from Kucoin, other than directly logging into your account. I repeat, DO NOT ENABLE!!!!!!!!!!!