Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies. It is considered one of the top cryptocurrency trading platforms by volume. It also serves as a wallet for users who hold accounts on the exchange.
Using the Connector¶
Because Binance is a centralized exchange, you will need to generate and provide your API key in order to trade using Hummingbot.
Creating Binance API Keys¶
1 - Log into your account at https://www.binance.com, then select Account (If you do not have an account, you will have to create one and verify your ID).
You must enable 2FA in your Binance account to create the API key. How to enable 2FA?
2 - Click on API Setting.
3 - Enter a key name and click on Create New Key.
4 - Enter your 2FA code. Once you pass the authentication, Binance will send a confirmation mail to your registered email inbox. Please click “Confirm Create” to make the confirmation for the new API creation.
5 - Now you have created an API key. Please note that to trade on Binance using Hummingbot, Enable Trading must be selected.
Make sure you store your Secret Key somewhere secure, and do not share it with anyone. Your Secret Key will only be displayed once at the time when you create the API.
If you lose your Secret Key, you can delete the API and create a new one. However, it will be impossible to reuse the same API.
Minimum Order Sizes¶
See this page for the minimum order size per trading pair. Typically, the minimum is around $10 equivalent of whichever currency you are trading in.
By default, trading fees are 0.1% on Binance for both market makers and takers. However, users who trade high volumes and own substantial amounts of Binance Coin can receive discounts. More details can be found here.