To run a trading bot on the Binance automated trading platform, you must follow these steps carefully:
1️⃣Create an account and activate a trading account in Binance
1. Register on the Binance platform through its official website: binance.com.
2. Complete the KYC verification process to ensure account security.
3. Set up the API from the settings, because the trading bot requires access to your account via an API key.
2️⃣ Set up API keys to connect the bot to Binance
1. Go to the API Management section of your account settings.
2. Create a new API key and give it a name (example: Trading Bot).
3. Get:
API Key: Public key.
Secret Key: The secret key.
4. Set the appropriate permissions for the robot (such as “Enable Spot and Margin Trading”) and make sure that Withdraw is not enabled.
5. Keep the keys in a safe place as they will only appear once.
3️⃣. Choosing a trading robot
There are many trading bots that support Binance, the most famous of which are:
3Commas
Pionex
CryptoHopper
TradeSanta
1. Choose a reliable bot that suits your needs.
2. Create an account on your favorite bot platform.
3. Bind the trading bot to your Binance API key.
4️⃣Preparing automated trading strategies
1. Choose the right strategy based on your goals:
Grid Trading: Buying and selling assets within a specified range.
DCA (Dollar Cost Averaging): Investing a fixed amount at regular intervals.
Arbitrage: Profiting from price differences between markets.
2. Specify settings, such as:
The pairs you want to trade (eg BTC/USDT).
Trading budget.
Buy and sell orders.
5️⃣ Run the robot
1. Monitor the initial performance of the robot and make sure it is working properly.
2. Make adjustments to the strategy if necessary.
3. Make sure to follow the market and update the robot according to the fluctuations.
6️⃣ _____ ⛔ Safety Alert⛔_____
- Do not share API keys with any untrusted party.
- Do not enable the "Withdraw" option in the API settings.
- Use a sub-account for automated trading to ensure the protection of funds, in order to 👇
1. Separation of financial assets: The assets in the sub-account are completely separate from the main account, which protects the rest of your funds in the event of a hack or error in automated trading.
2. Independent management:
You can assign different permissions to each sub-account, such as only allowing trading without withdrawal or deposit.
3. Determine the capital: You can put a specific amount in the sub-account dedicated to automated trading, which reduces the risk of losing the entire assets.
4. Reduce permissions associated with API keys:
When linking a trading robot to a sub-account, the risks are much lower because the API keys linked to the sub-account do not give access to the main account or the rest of the funds.
5. Multiple User Management: You can allow someone else to manage the sub-account without giving them permissions on the main account.
6. Please note that this feature is only available for corporate accounts or individuals within the VIP program.
