Binance FAQ: 69+ Answers on Spot, Futures & API Automation

Yes. Go to pickmytrade.io, add Binance as your broker connection, and enter your Binance API key and secret. In PickMyTrade, go to Generate Alert to create your alert — you will receive a JSON payload and a webhook URL. Paste the JSON into the TradingView alert message box and paste the webhook URL into the TradingView webhook field. PMT supports Binance USDT-M Futures — spot trading is not supported. Full setup guide: https://docs.pickmytrade.io/docs/connect-binance-with-pickmytrade/

Binance.US has a separate, more limited API than Binance global. PickMyTrade supports Binance global (binance.com) for USDT-M Futures — spot trading is not supported. If you are a US resident, check PickMyTrade's current broker list for Binance.US compatibility before subscribing, since Binance.US does not offer futures at all.

PickMyTrade is $50 per month per broker connection with unlimited alerts, strategies, and connected accounts. There is no per-trade fee from PickMyTrade itself. You still pay Binance's standard spot (0.1%) or futures (0.02%/0.05%) trading fees to the exchange.

PickMyTrade targets sub-200ms end-to-end execution from TradingView alert to Binance order placement. Actual latency also depends on TradingView's alert delivery time and Binance's matching engine response. Physical distance between TradingView, PickMyTrade, and Binance servers affects speed, with Asia-routed flows typically being fastest.

Log in to Binance, go to Account > API Management, click Create API, and choose System-generated. Give it a label like 'PickMyTrade', complete 2FA, then set permissions: enable 'Spot & Margin Trading' and/or 'Futures' depending on what you want to automate. Leave 'Enable Withdrawals' OFF. Copy the API Key and Secret immediately, because the Secret is only shown once.

Enable 'Enable Reading' (on by default) and 'Enable Spot & Margin Trading'. To automate futures, you also need 'Enable Futures'. Do NOT enable 'Enable Withdrawals'. PickMyTrade only needs to place orders, not move funds off the exchange.

Binance recommends it for security, but it can break third-party automation if the service uses dynamic IPs. If PickMyTrade provides a static IP list, whitelist those. Otherwise, leave the key unrestricted IP-wise and rely on the restricted permission set (no withdrawals) plus Binance's 90-day expiry for non-whitelisted trading keys.

Binance automatically expires the 'Enable Spot & Margin Trading' permission on API keys that do NOT have an IP whitelist. To avoid rotation every 90 days, either add an IP whitelist or set a calendar reminder to regenerate the key. Whitelisted keys do not expire.

PMT supports Binance USDT-M Futures — spot trading is not supported. You connect your Binance Futures account via API key in the PickMyTrade dashboard and automate USDT-M perpetual contracts.

Binance demo and testnet accounts do not work with PickMyTrade. PickMyTrade connects to live Binance only. For pre-live testing, use TradingView's Paper Trading or a tiny live position (e.g., $10 notional) to validate your webhook before scaling up.

PickMyTrade uses a JSON payload inside the TradingView alert message. A typical Binance spot buy looks like: {"webhook_id":"YOUR_ID","symbol":"BTCUSDT","side":"BUY","quantity":"0.001","type":"MARKET"}. The exact schema is shown in your PickMyTrade dashboard and handles both spot and futures orders.

Yes. You set leverage per symbol in the Binance Futures interface (up to 125x on some pairs), and PickMyTrade's orders will use whatever leverage you have configured on that pair. Most automated strategies use 2x to 10x to limit liquidation risk.

You need at least TradingView Essential (formerly Pro) to use webhooks, which is the mechanism PickMyTrade uses. Free TradingView accounts cannot send webhook alerts. Essential plans start around $15-20/month billed annually.

Yes. PickMyTrade supports multiple strategies per Binance account. Each strategy has its own webhook URL, and you can assign different position sizes, symbols, and direction rules. Just be careful not to stack contradictory signals on the same symbol.

Two options: (1) include SL/TP levels in your TradingView alert JSON and let PickMyTrade place bracket orders on Binance, or (2) manage exits inside your Pine Script with separate alerts for entry, stop, and target. Option 2 is more flexible for trailing exits.

PMT supports Binance USDT-M Futures only — spot trading is not supported. In PickMyTrade, go to Generate Alert to create your alert — you will receive a JSON payload and a webhook URL. Paste the JSON into the TradingView alert message box and paste the webhook URL into the TradingView webhook field.

Binance's API will reject the order and PickMyTrade will log the failure. The alert is not automatically retried indefinitely, so you may miss a fill during a Binance outage. Consider monitoring the PickMyTrade dashboard or enabling email/Telegram alerts on order failures.

Common causes: (1) funds are in the wrong wallet (e.g., Spot vs Funding vs Futures), (2) your order size exceeds what BNB/USDT you hold after fees, (3) on futures, your margin is tied up in open positions. Transfer funds to the correct wallet and retry.

PickMyTrade is an automation layer for YOUR own TradingView strategies or alerts, not a copy-trading service. If you want to follow another trader, Binance offers native Copy Trading inside its futures interface. For TradingView-based signal copying, you'd need the signal provider to share their indicator.

PickMyTrade supports Binance USDT-M Futures only — spot trading is not supported. Cross and isolated margin are separate account types on Binance and are not supported for direct automation via PickMyTrade.

Use 'bar close' alerts in TradingView instead of 'once per bar' to prevent mid-bar repaints from firing live orders. Also cap daily trade count in your Pine logic. PickMyTrade will execute every webhook it receives, so filtering must happen in the alert logic, not after.

PickMyTrade is signal-driven (one alert = one order), so pure grid bots are better handled by Binance's native Grid Trading feature or dedicated grid tools. You can approximate DCA by scheduling TradingView alerts on fixed time intervals, but Binance's built-in Auto-Invest is simpler for straight DCA.

Binance.com is blocked for US residents. If you live in the US, you must use Binance.US, which is a separate legal entity. Binance.com is available in 180+ countries but restricts users from the US, UK (limited), Canada, Netherlands, Germany, Ontario, and sanctioned regions.

For basic (Level 1) verification, Binance requires a government-issued photo ID (passport, national ID, or driver's license depending on country) plus a live selfie or face scan. For Level 2 (higher withdrawal limits), you add a proof of address such as a utility bill or bank statement dated within the last 3 months.

Most users are approved within minutes to a few hours via automated review. During peak periods or if documents need manual review, it can take up to 48-72 hours. Retrying with clear, well-lit photos and matching names across documents reduces rejection rates.

As of 2026, Binance.US does not serve residents of Alaska, Hawaii, Maine, New York, Texas, Vermont, American Samoa, Northern Mariana Islands, and the US Virgin Islands. New York blocks Binance.US because it lacks a BitLicense; Texas blocks it due to state-level enforcement action.

Coinbase, Kraken, and Gemini all operate in New York and most restricted states. Crypto.com is another widely available option. Avoid using a VPN to bypass Binance.US or Binance.com geoblocks, as that violates Terms of Service and can result in frozen funds.

Technically the platforms are separate, but Binance's Terms of Service do not permit US residents to use Binance.com regardless of whether they also hold a Binance.US account. Attempting to do so can result in frozen funds when Binance's compliance systems flag your IP or identity.

Yes. Binance offers entity verification for companies, requiring articles of incorporation, director IDs, proof of business address, and beneficial ownership info. Approval typically takes several business days and unlocks higher limits plus OTC access.

The standard Binance spot fee is 0.10% for both maker and taker. Paying fees in BNB drops it to 0.075% (a 25% discount). Higher VIP tiers reduce fees further based on 30-day trading volume and BNB holdings.

On Binance USDT-M Futures, the base rate is 0.02% maker and 0.05% taker. Using BNB for fees gives about a 10% discount on futures (smaller than the 25% spot discount). VIP tiers and referral discounts can bring fees down further.

No. Binance and Binance.US have no monthly platform fee. You only pay per-trade commissions and network withdrawal fees. The only recurring cost for an automation stack is typically your TradingView plan plus PickMyTrade ($50/month per broker connection).

Enabling 'Use BNB to pay fees' gives a 25% discount on spot and margin trading fees. The discount on futures fees is around 10%. You must hold BNB in your Spot wallet for the discount to apply automatically.

Withdrawal fees vary by coin and network. USDT on TRC20 is typically around 0.2-1 USDT; on ERC20 it fluctuates with Ethereum gas (often $3-30+); on BEP20 (BNB Chain) it's usually a fraction of a USDT. Always check the current fee before confirming.

Close but not identical. Binance.US spot fees are also tiered starting around 0.1%, with BNB discounts available after a 2024 relaunch of the BNB discount program. Binance.US does not offer futures, so futures fees do not apply.

Binance does not charge a deposit fee for crypto, but the sending network (Bitcoin, Ethereum, Tron, etc.) charges a standard on-chain miner/gas fee paid to the network, not Binance. ACH and bank transfers on Binance.US are free.

Binance.com offers spot, margin (cross and isolated up to 10x-20x), USDT-M and COIN-M futures, European-style vanilla options, Earn (flexible and locked staking, dual investment), Launchpad, Binance Convert, P2P, Copy Trading, and NFT. Binance.US is limited to spot and staking for supported assets.

Yes. Binance Earn includes Flexible Savings, Locked Staking, ETH staking (WBETH), SOL liquid staking, dual investment, and launchpool. APYs vary by asset and lock period, typically ranging from under 1% for stablecoins to 5%+ for some PoS coins. Binance.US offers a subset of these.

Binance Convert is a simple interface to swap one crypto for another (or fiat to crypto) at a quoted rate without going through the order book. It is fee-free but the spread is built into the quote, so it is usually slightly worse than a limit order for larger sizes.

Yes. Binance has native Copy Trading on its futures platform where you can follow vetted lead traders. You set allocation and risk rules; trades mirror automatically. This is a native Binance product, separate from TradingView-based automation through PickMyTrade.

Binance P2P is a peer-to-peer marketplace where users buy/sell crypto directly with each other using local payment methods (bank transfer, Wise, PayPal, etc.). Binance escrows the crypto during the trade to prevent fraud. It is commonly used in countries where card/bank on-ramps are limited.

Binance.com offers European-style vanilla options on BTC and ETH, settled in USDT. Liquidity is thinner than on Deribit. Binance.US does not offer options. Options are not typically supported by TradingView-webhook automation platforms including PickMyTrade.

Binance.com lists 350+ cryptocurrencies across 1,400+ trading pairs. Binance.US lists around 150 cryptocurrencies and 190+ trading pairs, reflecting stricter US listing standards. Exact counts change weekly as new tokens list and others delist.

Go to Wallet > Fiat and Spot > Deposit > Crypto, choose the coin (e.g., USDT), choose the network (TRC20, ERC20, BEP20, etc.), and copy the deposit address. Send from your external wallet or another exchange using the exact same network. Using the wrong network can result in lost funds.

Yes on Binance.com via Buy Crypto > Credit/Debit Card. Card fees are higher than bank transfers (around 1-2%) and your bank may flag or decline the charge. Binance.US supports card buys in most supported states but check regional availability.

Yes. Binance.US supports USD deposits and withdrawals via ACH bank transfer with zero fees. After an ACH deposit, there is typically a 7-10 day hold before you can withdraw the USD equivalent off-platform, though you can trade with the funds immediately.

TRC20 (Tron) is usually cheapest and fastest (under $1). ERC20 (Ethereum) is widely compatible but expensive when gas is high. BEP20 (BNB Chain) is cheap and fast but only works between Binance and BNB-chain wallets. Always match the sending network to the one you select on the deposit page.

Crypto deposits have per-coin minimums listed on the deposit page (below the minimum, funds are lost). For fiat, Binance.US requires no minimum ACH deposit. Card buys on Binance.com typically start around $15.

Once Binance processes the withdrawal internally (usually within minutes), speed depends on the network: Bitcoin can take 10-60 min for confirmations, Ethereum 1-5 min, Tron under 1 min, BNB Chain seconds. Large or flagged withdrawals can be manually reviewed, adding hours to a day.

SAFU (Secure Asset Fund for Users) is Binance's insurance fund, established in 2018. As of 2024, it held $1 billion in USDC. It can reimburse users in limited scenarios like exchange-side breaches, but does not cover losses from phishing, user error, or market volatility.

Binance supports authenticator apps (Google Authenticator, Binance Authenticator), SMS, and hardware security keys (YubiKey). Authenticator apps and hardware keys are strongly preferred over SMS, which is vulnerable to SIM-swap attacks.

You can enable Withdrawal Address Whitelist in Security settings. Once on, withdrawals are only allowed to pre-approved addresses. Newly added addresses have a 24-hour waiting period before they activate, which blocks attackers who briefly gain access from draining funds.

Binance has publicly stated that the majority of user funds are held in cold (offline) storage, with hot wallets holding only enough for normal withdrawal throughput. Exact percentages fluctuate and are not always disclosed. Binance publishes a Proof of Reserves updated periodically.

Set an Anti-Phishing Code in Security settings, so every real Binance email shows that code. Only log in via binance.com or binance.us typed directly; never via links in emails or social media. Enable Withdrawal Whitelist and use a hardware 2FA key.

Binance's SAFU fund acts as self-insurance for specific exchange-side incidents. Binance.US USD balances are held at partner banks where FDIC coverage may apply up to $250k per bank at pass-through level, but crypto holdings are NOT FDIC or SIPC insured on either platform.

Not applicable. Binance is a retail crypto exchange, not a prop firm partner. For prop firm automation via PickMyTrade, see Tradovate, Rithmic, TradeLocker, Match-Trader, or ProjectX.

Some crypto-focused prop firms (separate from Binance) allow traders to withdraw profits in USDT that can then be sent to Binance. Binance itself does not run or sponsor any prop firm program. If you're looking at futures prop firms, Tradovate, Rithmic, and ProjectX are the common futures broker backends.

No. Binance offers Copy Trading and Lead Trading (where vetted traders earn a cut of followers' profits), but these are not prop firm style evaluations with drawdown rules and payout splits. Prop trading models live on dedicated prop firms, not retail exchanges.

The most common causes: (1) the transaction still needs blockchain confirmations (Binance shows 'Confirming' until enough confirmations hit), (2) you sent on a network Binance doesn't support for that coin, (3) amount was below the minimum, or (4) memo/tag was missing on a coin that requires one (XRP, XLM, EOS). Check the TxID on a block explorer.

Reasons include: network congestion, large withdrawal triggering manual review, a recent password or 2FA change (24-48 hour withdrawal lock), or an ACH deposit still within the hold period on Binance.US. Check Withdrawal History for the status and TxID.

Go to the Binance login page and click 'Lost your 2FA?'. You'll be walked through ID verification, usually including a face scan and possibly a recorded video message. After reset, there is a 48-hour withdrawal lock for safety. Recovery can take anywhere from minutes to several business days.

Typically this is from too many failed login attempts (unlocks automatically after 2 hours) or a risk-flagged event such as a login from a new device/country. Email confirmation and ID verification usually restore access. Persistent locks require Binance support review.

Four usual causes: (1) IP whitelist blocks the caller, (2) the key lacks the Futures permission but is being used for futures, (3) the key was created BEFORE you opened a Futures account (create a new key), or (4) the key was edited and has not propagated. Regenerate with the right permissions and without IP whitelist as a first test.

On Binance.US, ACH deposits have a 7-day USD withdrawal hold. On both platforms, crypto deposits may be usable for trading but not withdrawable until enough blockchain confirmations are posted. Recent 2FA resets, password changes, or new whitelisted addresses also impose 24-48 hour locks.

Binance API keys without an IP whitelist are auto-deleted after 90 days of creation or 30 days of inactivity, and withdrawal permissions cannot be enabled at all without at least one whitelisted IP. This is a major problem for traders running automation on cloud platforms (Heroku, Render, Railway, Fly.io) where outbound IPs change on every restart. Symptoms: your bot suddenly returns 'Invalid API-key, IP, or permissions for action' after a cloud restart; your API key disappears from Binance's API management page after 90 days; you cannot enable withdrawal permissions. Solutions: use a VPS with a static IP (recommended) — rent from DigitalOcean, Linode or AWS EC2 with Elastic IP, whitelist that one IP, ~$5-20/month. Use a static outbound IP proxy (e.g., QuotaGuard) that provides a fixed IP your cloud app routes through — whitelist one IP, configure one env variable, and Binance sees consistent requests regardless of your cloud's IP changes. Whitelist multiple IPs — Binance supports multiple IPs and CIDR notation, so if your provider gives you a known range, whitelist the block. Or use a managed automation service like PickMyTrade that handles the Binance API connection from static-IP infrastructure, so you never deal with whitelisting yourself. Security note: even without withdrawal permissions, an attacker with your API key can place trades — always combine IP whitelisting with restricted permissions; only enable Spot & Margin Trading or Futures as needed, never Enable Withdrawals unless absolutely required.

Binance has deeper liquidity, more coins (350+ vs ~250), and lower fees (0.1% vs up to 0.6% on Coinbase simple mode). Coinbase Advanced Trade has comparable fees but fewer coins. Coinbase is better for US regulatory clarity and beginner UX; Binance.com is better for advanced traders outside the US. US traders choose between Coinbase and Binance.US.

Binance has the deepest futures liquidity globally and strong spot-to-futures ecosystem. Bybit has competitive futures fees (0.01%/0.06% base vs Binance's 0.02%/0.05%), a trader-friendly UI, and often better promotions. Bybit is restricted in the US. For TradingView automation, both are supported by various platforms; PickMyTrade supports Binance.

Kraken has a 13-year track record with zero major hacks, strong EUR/GBP banking rails, and is available in most US states including New York (Kraken Pro). Binance has wider coin selection, deeper derivatives, and usually lower fees. Kraken wins on security reputation and regulatory clarity; Binance wins on product breadth and liquidity.

They are separate legal entities. Binance.com: 350+ coins, futures, margin, options, available globally except the US. Binance.US: ~150 coins, spot + staking only (no futures), available in most US states except NY, TX, HI, AK, VT, ME. Fee structures are similar but not identical. You cannot legally use Binance.com as a US resident.

Binance has better liquidity, lower base fees, and more advanced products (futures, options, margin). Crypto.com has a strong mobile app, a well-known crypto Visa card, and broader US state availability than Binance.US. Active/advanced traders usually prefer Binance; casual/mobile-first users often prefer Crypto.com.