Creating A Binance Read-only API
Security in crypto is one of the most important and talked about aspects, creating a Binance read-only API key can help protect your data from bad actors while giving you the benefit of using great tools to help your crypto journey.
Summ Why you should create a read-only API
Having a read-only API can be crucial for anyone who values security. Even if you trust the organization you are giving the API to imagine what would happen if their security was compromised? All your funds could be traded away or used for someone else's pump and dump.
We recommend all our users create a read-only API key when transferring data to Crypto Tax Calculator.
Luckily, a Binance read-only API can be created in 9 simple steps.
How to create a Binance read-only API
Step 1: Login to your Binance account.
Step 2: Hover over the account profile in the top right and select API management from the dropdown menu
Step 3: Give your new API a name and click create
Step 4: Enter the required security codes from your email or phone you need
Step 5: Once the API has been created select Edit restrictions
Step 6: Unselect Enable spot and Margin trading
Step 7: If you want the API to be used by just your IP address you can also edit that here as well
Step 8: Click Save
Step 9: Enter the security codes needed to approve the changes
That’s it! You’ve created a Binance read-only API key, now you have the comfort knowing that your API is safe from being used maliciously.