Poloniex offers two methods of use for the API. These connection methods are different, but function in tandem with one another when required.
The public API is a connection method used to gather publicly available information. Examples of publicly available information would be:
24 hour volume
Order book information
Market trade history
With this information customers can create more advanced bots and programs that can be used for automated trading, or market analysis.
The private API offered by Poloniex allows customers to perform read/write operations on their own account. With the private API, customers can perform a much wider array of actions on their account, allowing them to operate a Poloniex account without the use of the main graphical user interface site. This allows our users to create bots and programs, allowing for complex trading strategies, or strategies that cannot be implemented by using the main site, such as high frequency trading. The private API must be enabled from the main Poloniex website prior to use.
Some examples of account related operations include:
Withdrawal of funds
Retrieve deposit addresses
Using one or both of these methods, our customers are able to implement their own trading strategies and use the Poloniex platform in a whole new way.
Learn more about How to Create an API/Secret Key Set
Learn more about API Frequently Asked Questions (FAQs)
Learn more about Poloniex API CCXT Partnership
Learn more about API Key Security