In this blog post, I am going to show you how to successfully connect your Binance api keys account to your new Yanda Non-Custodial automated trading account.
First, I want to go over real quick what an API key is and the reason we use them. API stands for Application Programming Interface.
Why do we use Binance API keys?
You should see an API Key as a tool that lets you access a specific set of data from everywhere. The EU made clear to banks that they have to allow customers to get their Binance API keys to enhance transparency and trust.
Cryptocurrency exchanges follow the same regulation and therefore are allowing traders to generate API keys from their setting pages.
You need API keys when you want to create a link between your account with exchanges and other software.
To trade automatically via Yanda, you need to copy/paste the Binance API keys. Once you put your API keys into Yanda, you will be able to automate your trading sessions without moving your cryptos outside the exchange!
To let you have full control over the data you want to share, each API keys set can be generated with different permissions granted to the keys themselves.
If you create your keys with “read balance” permission only, the only thing you will be able to do with the API is to read your balance.
To trade with Yanda you need to grant “read balance” and “trade” permission.
You never have to grant “withdrawal” permissions to your Binance api keys so that nobody will be able to withdraw your funds from the exchange without your explicit permissions!
Now that we know more about APIs, let me show you where we can find them and how to connect your exchange to Yanda.
If you have not already created a Binance trading account you can choose between our Custodial and Non-Custodial account.
Connect your Binance API keys Account
It’s time to get into it, remember that if you want to use our tools with your Binance account you need a Metamask wallet, follow the guide here to start with it, don’t worry is really simple.