Connecting with Binance
Connecting Your Binance Account to Your Arbitrage Bot: A Step-by-Step Guide
To allow your arbitrage bot to trade on your behalf using your Binance account, you'll need to create and connect special access keys called API keys. Think of these keys as a secure way for the bot to interact with your Binance account without you having to directly log in each time. Here's how to do it:
Part 1: Creating API Keys in Binance
Log in to your Binance Account: Open your web browser and go to the official Binance website (https://www.binance.com/). Enter your username (usually your email address) and password to log in.
Navigate to API Management: Once you're logged in, look for your profile icon or a similar menu option (it might be in the top right corner). Click on it, and from the drop-down menu, select API Management.
Create a New API Key: On the API Management page, you'll see a button that says Create API. Click on this button.
Choose "System generated" API: A pop-up window will appear asking you to choose the type of API key you want to create. Select System generated. You might see this option repeated; click it.
Complete Security Verification: Binance will likely ask you to go through one or more security verification steps. This might involve entering a code sent to your email address, your phone number, or using your Google Authenticator app. Follow the on-screen instructions to complete these steps.
Set API Restrictions (Important for Security): This is a crucial step to ensure your funds are secure. You'll see a section where you can define what actions this API key is allowed to perform.
Select the necessary permissions: The specific permissions your arbitrage bot needs will depend on its functionality. Typically, it will require permissions to read information (like your account balance and market data) and place trades. Do NOT enable withdrawal permissions unless explicitly instructed by your bot provider and you fully understand the risks.
Restrict access to trusted IPs only (Highly Recommended): For enhanced security, it's highly recommended that you restrict the API key to only be accessible from specific IP addresses. This means only the servers of your arbitrage bot will be able to use these keys.
Enter the Allowed IP Addresses: If you chose to restrict access to trusted IPs, you'll see a field to enter the IP addresses. Enter the following IP addresses one at a time, clicking Confirm (or a similar button) after each one:
209.38.162.7209.38.162.148209.38.170.165
Save Your API and Secret Key: Once you've configured the restrictions and confirmed, Binance will generate your API Key and Secret Key. It is extremely important that you copy both of these keys and store them in a safe place immediately. The Secret Key will only be shown to you once and cannot be retrieved again if you lose it.
Learn more about connecting Binance API keys with Arbique. Click here learn more.
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