A trading bot never needs your Binance password. It works through an API key — and the permissions you give that key decide what the bot can and cannot do with your account.
An API key is a pair of credentials that lets a program talk to your Binance account directly. Binance lets you choose, key by key, what the program is allowed to do: read your balances, trade Futures, trade Spot, or move funds out. A grid bot only needs a small part of that list.
Binance can limit a key to a list of IP addresses. That is a good extra lock when your internet connection has a fixed IP. Most home connections change their IP from time to time, though, and a key locked to an old IP simply stops working — so if you are not sure your IP is fixed, choose Unrestricted and rely on the other protections on this page.
Binance supports two kinds of keys. With a classic HMAC (“System generated”) key, Binance creates both halves and shows you the secret, which you then copy into the bot. With an Ed25519 (“Self-generated”) key, the secret is created on your own device and never leaves it — you give Binance only the public half.
DualGridBot creates an Ed25519 key pair for you on first launch. The private half is encrypted to your Windows account and stays on your computer; you paste only the public key into Binance. The step-by-step screens are on our Setup Steps page.
Not if withdrawals are off on its API key. Binance refuses any withdrawal request made with a key that does not have that permission.
No. An API key is all a bot needs. Be careful with any service that asks for your password or 2FA codes.
The most common reasons are choosing “System generated” instead of “Self-generated”, or the key text picking up invisible characters after being emailed. Paste it straight from the bot on the same computer.
Start a free 15-day trial, or learn the bot risk-free first in Paper mode.