What Binance API key settings you need to work with Coinmatics

This article will tell you about the Binance API key settings required to use Coinmatics. Whether you're a trader or investor, we'll guide you through the settings that need to be enabled.

If you're a Spot / Margin trader

and only wish to share your strategy on Coinmatics, you need your API key to have read-only permissions. It's a "Can Read" setting in API restrictions:

If your only goal is to share your strategy with the subscribers and you don't plan on copy trading with this exchange account, then "Can Read" permissions is enough. You don't need to enable Spot and Margin Trading since Coinmatics does not need to do trades via your API key in this case. And remember to never select "Enable Withdrawals" - our platform does not need to do withdrawals.

If you're a Futures trader

you need to open a Futures wallet on your Binance account first. Log in to Binance and go to Wallet -> Futures. Click "Open Now" button and you're good:

After you enabled Futures trading, you can create an API that supports Futures trading - this setting appears in API Key permissions:

Hint: we do not recommend enabling IP address restrictions. They will not work with Coinmatics.

Note that API Key created before your futures account opened does not support futures API service. So if you created an API key first and opened a Futures account after that, your old API key will not work for Futures trading. You'll need to create a brand new API key. 

If you're an investor

then you need both "Can Read" and "Enable Spot & Margin Trading" options selected:

In case you'll decide to follow a Futures strategy, check "Enable Futures" as well (don't forget to open a Futures wallet on your Binance account first, we described that above for Futures traders).

We do not recommend enabling IP address restrictions. They will not work with Coinmatics. And remember to never select "Enable Withdrawals" - our platform does not need to do withdrawals.

Note that API Key created before your futures account opened does not support futures API service. So if you created an API key first and opened a Futures account after that, your old API key will not work for Futures trading. You'll need to create a brand new API key.