Yanda Non-Custodial software is now on BmyBit.com
In this blog post, I will show you how to successfully connect your Binance API keys account to your new Yanda Non-Custodial automated trading account.
This process can be used to generate API keys for any third application.
First, I want to go over real quick what an API key is and why we use it. 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!
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 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 accounts.
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 on how to connect your Binance API keys to start with it, don't worry is really simple.
When you enter the first time on Yanda by connecting your Metamask wallet, you need to paste your Binance API key and Binance API secret, let's leave this page for now and go to your Binance account.
Step 1 Open your Binance account
Click on the profile button and then on API management.
Step 2 create the Binance API key
Give it a label, I suggest you use the name of the application as a name so you know that these keys are used. Then click on Create API.
A Binance API key can be generated with different permissions granted, I highly encourage you to generate Binance 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.
After the authentication is complete you now have your new API keys, just be sure to edit the restriction and check "Enable Spot & Margin Trading".
Now go back to Bmybit https://bmybit.com/ and click on the button "Add Binance API keys" at the top of the screen in the middle.
Click on the button "Add Binance API keys" at the top of the screen in the middle.
Copy/paste your Binance API key into the boxes.
And that's it, you have successfully connected your Binance account.
All you need to do now is to learn how to use our Trading bot and start earning with it!
