How it works

Trade coins on Binance

The "Trade Coins on Binance" action allows you to sell a specified amount of a coin and buy another coin instantly using your Binance API key.

Setting up the "Trade Coins on Binance" action

To set up the "Trade Coins on Binance" action, you will need to provide the following details:
  • Sell Coin: The coin you want to sell.
  • Sell Amount: The amount of the coin you want to sell.
  • Buy Coin: The coin you want to buy.
  • Binance API key: Your Binance API key.
  • Binance Secret key: Your Binance Secret key.
You can get Binance API key and Secret key from:
"Enable Reading" and "Enable Spot & Margin Trading" access to the Thentic server IP address, which is based in Germany. This will enable Thentic to communicate with Binance's servers securely and perform automated trading on your behalf. To add Thentic's IP address to your Binance API access list, follow these steps:
  1. 1.
    Log in to your Binance account and navigate to the API Management page.
  2. 2.
    Create a new API key if you haven't already done so.
  3. 3.
    Click on the "Edit restrictions" button next to the API key you wish to modify.
  4. 4.
    Under the "IP Access Restriction" section, select "Add new IP" and enter the Thentic server IP address:
  5. 5.
    Save your changes.
It's important to ensure that your Binance API keys are kept secure and are only used with trusted services like Thentic. Never share your API keys with anyone else, and monitor your account for any unauthorized activity.
Using the "Trade Coins on Binance" action
Once the "Trade Coins on Binance" action is set up, the specified amount of the sell coin will be sold and the equivalent amount of the buy coin will be bought instantly on Binance using your API key.
Benefits of using the "Trade Coins on Binance" action
Using the "Trade Coins on Binance" action can help you execute trades quickly and easily without having to manually log in to your Binance account. This action can be especially useful for traders who need to execute trades quickly in response to market movements.