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.
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