Binance API key settings needed to work with Coinmatics

This article outlines Binance API key settings required to use Coinmatics in various cases.  

Please note that in order to create an API key, Binance requires enabling two-factor authentication and completing the intermediate and advanced KYC procedure. Make sure you've done this before following this guide. 

For Binance Spot investors

In order to copy a Binance Spot strategy via Coinmatics, you need to enable the following options:

• "Enable Reading" (selected by default)
• "Enable Spot & Margin Trading"

For Binance Futures investors

First, make sure you've already opened a Futures wallet on your Binance account (log in to Binance -> Wallet page -> Futures. Click "Open Now"). Otherwise, you won't be able to set the necessary restrictions.

Then, enable the following options:

• "Enable Reading" (selected by default)
• "Enable Spot & Margin Trading"
• "Enable Futures"

For Spot / Margin traders

If you plan to share your strategy as a trader and don't plan on copy trade using this exchange account, then enable the following options:

• "Enable Reading" (selected by default)
• "Enable Spot & Margin Trading"

For Futures traders

First, make sure you've already opened a Futures wallet on your Binance account (log in to Binance -> Wallet page -> Futures. Click "Open Now"). Otherwise, you won't be able to set the necessary restrictions. 

Then, enable the following options:

• "Enable Reading" (selected by default)
• "Enable Spot & Margin Trading"
• "Enable Futures"

NB:

• Do not select "Enable Withdrawals". If selected, we won't link the key to Coinmatics. 
• Do not restrict IP addresses.  
• API key settings update can take about an hour.
• According to Binance regulation, an API key with trading permission enabled and unrestricted IPs is disabled in 90 days. 
• In case you've set the required permissions, you can use one API key for copying a Spot and a Futures strategy simultaneously, i.e. you can copy 2 strategies with 1 key.