What Is Binance Futures?
Binance Futures is a trading platform that allows you to trade digital assets with leverage. You can trade various contracts, including but not limited to Bitcoin, Ethereum, Litecoin, and other cryptocurrencies.
To get started, you will need to create a Binance account and verify it. Once your account is verified, you will need to enable 2FA Google Authentication. Security matters, and it is a necessary step toward your own safety. Once you have done this, you will be eligible for Binance Futures.
To open a Futures account, you will need to fund your account with cryptocurrency, FIAT money, or stablecoins. Once your account is funded, you can purchase contracts on the Binance Futures platform.
If you want to automate your trading, you can do so by using the Trading Bot “Balian” by Shaman Trading. To use the bot, you will need to submit your API keys. Once you have done this, the Trading Bot “Balian” will be ready to trade automated on the Binance Futures platform for you.
How to Create a Binance Futures Account
Follow these 7 steps to create a Binance Futures account:
1. Open an account on Binance and verify it
2. Enable 2FA Google Authentication
3. Be eligible for Binance Futures (Based on Jurisdiction)
4. Open Futures Account
5. Fund your Futures Account
6. Purchase Balian Trading Bot
7. Submit API Keys
How to Verify Your Binance Futures Account
The verification process for a Binance Futures account is simple and straightforward. In order to verify your account, you will need to provide some basic personal information and upload a copy of your government-issued ID. Once you have submitted your information, you will receive an email from Binance with instructions on how to complete the verification process. Once you have completed the verification process, you will be able to start trading on Binance Futures!
How to Be Eligible for Binance Futures
To be eligible for Binance Futures, you must have an account on Binance.com that is verified to Level 2 or above. You must also enable 2FA Google Authentication for your account. If you do not have a Binance account, you can create one by following this link. Important to highlight that a few countries such as China, Japan, Thailand, Malaysia, the U.K., and Europe (for derivatives trading) are restricted to use Binance Futures.
How to Open a Futures Account on Binance
Now that you have a Binance account and have enabled 2FA Google Authentication, you are eligible to open a Futures account. Here's how to do it:
1. Go to the Binance Homepage and click [Derivatives] and afterwards [USD(S)-M Futures]. Alternatively, you can go directly to Futures Trading interface.
2. Click [Open Account]
3. You will be redirected to the Futures trading interface, and click [Open Now] to open your Futures account.
4. Follow the instruction and answer the question related to Futures Trading by clicking [Take Quiz].
5. Once the questions have been answered correctly, your Futures Account has been created, and now you can fund it.
How to Fund Your Binance Futures Account
Now that you have your Binance Futures account set up and verified, you need to fund it before you can start trading. There are a few different ways to do this, but the most common is to transfer funds from your Binance Spot account to your Binance Futures Account. To do this, simply log into your Binance account, go to the Futures section, and select the 'Transfer' tab. From here, you can decide how much you want of the stablecoin BUSD to transfer. Once you've confirmed the transfer, your funds should appear in your Futures account within a few seconds.
If you need to fund your Spot Account in your Binance, then you have various options such as payment via credit card or transferring funds from another exchange to Binance. In case you should not have stablecoin BUSD, do not worry, within Binance you can easily convert any digital currency or Fiat money into BUSD and back.
How to Purchase Balian Trading Bot and Submit API Keys
The final step is to purchase the “Balian” Trading Bot and submit your API keys. You can do this by going to the Shaman Trading website and clicking on [Trading Application]. From there, you will be able to select the Balian Trading Bot and add it to your cart. Once you have purchased the Bot, you will receive a link from Shaman Trading to submit a set of API keys that you will need to create in Binance.
Read more about API Keys
To do this, go to the “API Management” page on Binance and create a new API key. Give this API key a label to identify it. Be sure to select “Enable Futures” when creating the key. Please be aware that the Secret Key will be shown only once, therefore, save your “API key” and “Secret Key” immediately. After you have created the API key, submit it to Shaman Trading via the link in the email after the purchase. And that's it! You are now ready for automated trading by Shaman Trading.
You've now created a Futures Trading Account on Binance and are ready to start trading Bitcoin Futures! Remember to fund your account and purchase the “Balian” Trading Bot to get started. If you have any questions, feel free to reach out to us at Shaman Trading. We're always happy to help you get started with automated trading.
Disclaimer: This article is for informational purposes only