When using the Binance API, setting permissions correctly is crucial. Too many permissions create security risks; too few prevent you from completing necessary operations. Understanding each permission type helps you make the right choices.
Sign up for Binance and create an API Key. We recommend downloading the Binance app to manage your API settings.
Three Main Permission Levels
Read Permission: View account information, balances, order history, and market data — but cannot perform any operations.
Trading Permission (Enable Trading): In addition to read capabilities, allows placing, canceling, and modifying orders and other trading operations.
Withdrawal Permission (Enable Withdrawals): Allows withdrawing funds from your account to external addresses. This is the highest-level permission.
How to Configure
Log in to Binance, go to API Management, create a new API Key, check the permissions you need, and save.
The system generates an API Key and Secret Key at creation. The Secret Key is shown only once — be sure to save it.
Permission Recommendations by Scenario
Data only (market monitoring, analysis): Enable read permission only.
Automated trading bots: Enable read + trading permissions.
Automated withdrawals (highly discouraged): Requires read + trading + withdrawal permissions.
Security Risks of Withdrawal Permissions
Enabling withdrawal permissions means anyone holding your API Key can transfer your funds out. This is the most dangerous permission.
Unless you have a very specific need (such as institutional-level automated fund management), it is strongly recommended not to enable withdrawal permissions. Even if you must, always pair it with IP whitelisting.
Other Permission Options
Beyond the three main permissions, the Binance API offers additional granular controls:
Futures trading permission: Separately controls whether the API can operate futures.
Margin trading permission: Separately controls margin operations.
Internal transfer permission: Controls whether the API can transfer funds between sub-accounts.
Only enable what you need — follow the principle of least privilege.
Multiple API Keys
Binance allows creating multiple API Keys. You can create different keys for different bots or services with different permissions. If one key is compromised, the impact is contained.
Regular Audits
Periodically review your API Key list, deleting any keys no longer in use. You can also check API call logs to confirm there are no unusual calls.