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How to Connect Your Binance API Keys on Yanda.

In this blog post, I am going to show you how to successfully connect your Binance 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 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 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!
API Security

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 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 Account

It's time to get into it, remember that if you want to use our tools with your Binance account you have to open a Yanda Non-custodial account.

On your first log-in on Yanda select "Yanda Non-Custodial", on the next page, you need to paste your API key and API secret, let's leave this page for now and go to your Binance account.

Once you are in, click on the profile button and then on API management
Yes I know, BTC and BNB then were so low!

Now it's time to create the API, first you have to give it a label, I suggest you use "Yanda" as a name so you know that these keys are used on Yanda. Click Create!
An API key can be generated with different permissions granted, I highly encourage you to generate API Key without Withdrawal Permissions Granted.

To generate API keys, you need to have the Two-factors authentication enabled. You can download the Google Authentication Application available on IOS and Android.
Once you put your 2-factor code in and your APIs are ready, check your Inbox, and verify your account.
Once your Key is confirmed you will see the ‘API Key’ and ‘API Secret’.
Now go back to Yanda and copy paste the keys on each box and click submit
And that's it, you have successfull connected you Binance account.
All you need to do now is to choose a Membership plan and start to enjoy the power of Automated Trading on Yanda!

Author: Chris Wyatt