How to Connect Your Binance API Keys on Yanda
In this blog post, I am going to show you how to successfully connect your crypto trading exchange to your new Yanda.io 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 API keys from the various exchanges. Once you put your API keys into Yanda, you will be able to automate your trading sessions across multiple exchanges 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 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 exchanges to Yanda.
Yanda currently lets you connect with six different exchanges. You only need to connect one to automate crypto trading, but you can, in fact, connect all sic and trade between all of them from Yanda. There is now no need to have multiple tabs open to trade on multiple exchanges. That’s a win for us all…
Below are the 6 exchanges currently available to connect on Yanda. If you would like to connect to one of these other than Binance, click the button the view the API connecting instructions.
If you have not already created a Binance trading account then click the button to be taken to the Binance website.
If you would love to connect to a different exchange you can click on one of these below to be taken to step-by-step guide on how to connect to Yanda.
2. Click on the Binance logo at the top and click connect. It will highlight green.
3. You will now be taken to the API section. Here you will find illustrated slides on how to connect your Binance account to Yanda.
You can follow these step exactly – or you can continue reading this blog post and I will keep on track and list all the steps for your to follow below. Or if you want to, you can watch this video (how to connect your Binance account to Yanda using API keys)
Let’s move on.
4. If you already have a Binance account login, If you do not have an account already set up click the blue link ‘Don’t you have an account with Binance? Create it now.’
Once you have either logged in or created your new Binance trading account you now need to find your API key settings.
5. Click on the profile button and then click on API Management.
An API key can be generated with different permissions granted. We highly encourage you to generate API Key without Withdrawal Permissions Granted.
7. To generate API keys, you need to have the Two-factors authentication enabled.
You can download the Google Authentication Application available on IOS and and Android. I have all my account connect on my mobile app even Coinbase for buy and selling cryptocurrencies.
8. Once you put your 2-factor code in and your APIs are ready, check your Inbox, and verify your account.
9. Once your Key is confirmed, You will see the ‘API Key’ and ‘API Secret’. Go back to Yanda.io >> Binance API Section and follow the last step, step 10.
Again Note This: We highly encourage you to generate API Keys without Withdrawal Permissions Granted.
10. Copy & Paste your ‘API Key’ and ‘API Secret’ to into the boxes on Yanda, and click ‘Connect Now’ and you are all set!
Time to enjoy the power of Automated Trading!
Now, you are all set to start automating your crypto trading with Yanda.
To double-check that everything has worked, go to the Yanda dashboard and look at the ‘Total Value’ of your portfolio. You will now see the total balance of your Binance trading exchange account.