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March 16 2023 Cryptocurrency

Everything you need to know about Binance connectivity

Everything you need to know about Binance connectivity

You've probably already decided to take the first steps towards trading cryptocurrencies, because you'll want to read about the Binance link for a reason. Perhaps you are still very much at the beginning of the process and want to take those first tentative steps by preparing yourself properly beforehand. There are some places where it's good to improvise, but this is not the place or the situation, so it's good to do your research thoroughly.

With today's blog post, we're trying to help you understand how you can connect the Binance platform with ours. We'll go through the steps in detail to make sure you can click through the whole process on your own, so we'll talk about Pay ID, commission payment and API connection.

Like any other robot platform

There's no need to be intimidated by the task if you've done something similar before, just on other platforms. Of course, you might be completely new to the topic, in which case we definitely recommend you read our previous blog post on what cryptocurrency is all about.

If you're already familiar with the basics, let's take you step by step through what you need to do.

Go to the settings!

When you go to the settings menu on your Tradensea platform, you'll see that you'll need to enter your Binance ID as well as your Pay ID. You will find these by clicking on Binance Pay under the Finance menu on the Binance platform. This interface may be familiar to you, as it's what we use for payments or when sending money to others. By clicking on the menu, you will immediately notice the Pay ID, which you can copy and paste into the appropriate line in our interface. 

The same will be done with the Binance ID. Once you've done that, you're ready for the second step.

Look for the human head icon!

When you scroll through the Binance interface, you'll see a human head icon in the top menu bar, which you can click to access a number of sub-menu items, but you'll only be interested in the Dashboard, so clicking on that will take you to the next thing to do. 

Here you will find your U-ID, or User ID, which you can copy and paste to take you to the Tradensea interface. 

Once you've done this, the red bar will disappear under the recommendation point in our interface, warning users that we can only Pay you if any of the IDs are listed there in our own system. 

Don't forget the most important one!

And that is the API key connection, which you will be able to create within the Binance platform, under the API management menu under the head icon. All you have to do here is create an API key, which you can then validate with a two-step confirmation. You can give it any name you like, and it will have two parts: a public and a secret code.

Finally, you need to set "enable spot & margin trading" so that your robot can actually trade. You then need to go to your Tradensea platform where you can enter your IDs, the new API key and also set which variable you want to work with.

An important point to note here is that you can link multiple Binance accounts, the only important thing is to know which account belongs to whom. For more information, read our other posts on the subject!

The final steps of the Binance connection

Of course, saving will be the last step, and maybe it doesn't sound so complicated. However, if you've never done anything on these platforms before, we definitely recommend our demo bots, which will allow you to practice the basics of cryptocurrency trading without any risk. 

The future has clearly begun, and if you don't want to miss out, feel free to contact us with any questions!

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