A cryptocurrency exchange is like the stock market for cryptocurrencies. It allows people to trade among other cryptocurrency holders for a commission or bid-ask spreads. Security, speed, and quantity of trading pairs are the most valued criteria to select what Exchange to use.
Binance is the world’s biggest cryptocurrency exchanges today and the trade engine can interface with it, to set up your account follow these steps below
Step 1: Set up your Bitcoin wallet.
The first thing you need is a wallet to hold your bitcoin. Each wallet has a unique Public and a Private Key that works as a storage for your cryptocurrency. A Public key is for transactions like sending and receiving a bitcoin while a private key is a secret code used to sign transactions in the ledger for blockchain validation.
We recommend using Exodus wallet.
To create your Exodus wallet:
Open your Browser > Go to Exodus.io > Download (desktop/mobile wallet) > Install the software > Launch
Step 2: Buy Bitcoin
We choose Bitcoin since it is the most dominant digital currency in the market today with the highest value and trading volume. Growth and Liquidity is very important for automated trading.
To Buy Bitcoin:
Open your Exodus Wallet > Click Receive > Copy the address > Paste in the form below
Just follow the prompts below and fill out the form, we will connect you to our partner and you can receive your Bitcoin in the next 24 to 48 hrs.
Step 3: Set up Proton Encrypted E-Mail
You need to have an Encrypted E-mail account end to end, it is the most secure way to communicate between yourself, the trade engine, and us. You need two E-mail accounts, one for the short account, and another one for the long account.
To set up your Encrypted E-mail addresses:
Open your Browser > Go to Protonmail.com > Sign up > Select free plan > Choose any name that includes short or long so that the engine can recognize your short and long accounts > Create Password > Skip the recovery mail > Create Account > Enter Captcha > Click Complete Setup > Finish
Then you need to do the steps again for the second email account.
Step 4: Setup Proton VPN
A VPN is a virtual private network that gives you privacy and anonymity online by creating a private network out of your existing public internet connection. VPN hides your real IP address so your activities are hidden and it allows you to customize your location via IP. Virtually you can be in another country without having to get up your seat.
To set up your VPN:
Open your Browser > Go to Protonvpn.com > Get Proton VPN Now > Select Free plan > Login using your proton E-mail > Downloads > download the software based on your operating system > Install > Launch
On the VPN, Select Netherlands then Connect, you need to set your location to the Netherlands since the trade engine is in the Netherlands. You need an IP from the same country.
Always use the VPN before doing any trading activities, or have the VPN start with windows so you won’t forget to turn it on.
Step 5: Setup Binance Account
Before you start, make sure you are connected to your VPN under the Netherlands server.
Go to Binance.com > Register > Register with your email address and Password, use any of the two proton emails you just created > Verify the registration by going into the email address you have chosen > Go back to Binance.com and sign in
To deposit your bitcoins into your Binance account:
Login to your account > Click Funds > Click deposit > Find BTC > A wallet address will open > Copy the wallet address > Open your Exodus bitcoin wallet > Send > Paste the BTC address from Binance > Enter the amount > Confirm
Step 6: Create API Keys on Binance:
API key means “Application Programming Interface” key. It is a key primarily used to securely identify the calling program, which is the trade engine. So that it can access and remotely trade on your behalf.
To create an API Key:
Login to your Binance account > Click on your ID name on the upper right corner > A pull-down menu will open, click “API management” > Create API Settings > Create
Complete the Security Verifications > Refer to your phone or email for the code.
After the creation, you can see the list of “API keys”. Find the name of the API you just created and make sure that the “Enable Withdrawal” is not checked.
Your API Key is your ID and Private Key is your password. We will ask for this information from you directly so we can establish a connection to the trade engine and start trading. Copy it and store it in a secured system, Never give these keys to anyone else.
If, for some reason you want to stop the engine from trading:
Go to API Keys > Select the existing name of the API Key > Click delete
That’s it, you’re done setting up your Binance account. If you have questions or clarifications, you can ask us directly at TradeMining.io.