Creating your API key
In order to connect your bot to Binance, you need an API key. Think of an API key as a bridge between Cryptohopper and the exchange, which allows your bot to do things like place automated orders and read your balance for its calculations.
Step one. Go to the exchange website, and create an account if you haven't already.
Step two. Verify your account and get started on the API. Start by naming the API something memorable such as "Cryptohopper API".
Step three. Verify that it is you creating the API. Binance will ask you for a 2FA key here. This can be either phone verification, email verification or a Google authenticator code.
Step four. Alter your API key settings. For API restrictions, Cryptohopper needs everything to be set to full access, except for "Enable withdrawals". This setting would allow someone to withdraw funds from your account using your API. This is not something that CH wants or needs to operate successfully.
Cryptohopper uses many different IP addresses for the trading bots, therefore, it's important that you don't configure "Restrict access to trusted IP's only".
Step five. Add your API to Cryptohopper.
Navigate to your Cryptohopper account and find the baseconfig. From there, click on the tab labeled "exchange".
Select your exchange, fill in your API key and you are done!
Give the hopper a moment to link everything and your balance should be loaded.
Leveraged tokens On Binance, it's possible to trade leveraged tokens. If you would like to trade these tokens, you must first perform a manual trade of leveraged tokens on Binance, as you will have to complete a small questionnaire about the risks involved. Afterward, these tokens can be traded like regular tokens.
Unable to see your exchange balance?
There are a few things that may prevent your hopper from synchronizing the funds from your exchange. In most cases, the browser that you use has "auto-fill" enabled. This means that the browser fills in certain text fields themselves. There are three things you can do:
- Disable autofill.
- Use incognito mode of your browser.
- Use a browser that you don’t use often.
- Using a password manager? Disable this for Cryptohopper, as it can auto-fill in the API key field.
If you want more information about this subject, watch our Cryptohopper Academy video about this subject, or check our community forum where users share their Hopper settings.
Convert dust positions to BNB
When using Binance, we recommend using the "convert dust to BNB" setting instead of the walletscrubber. Dust positions are positions that are too small to trade on the exchange.
Binance minimum trade amounts
Click here to check the minimum trade amounts on Binance.
Do you experience issues with trading on Binance? Click here to check Binance's exchange status.