A read-only API key lets a journal pull your trade history without the power to place orders or move funds. Hyerlo uses that model for Binance Futures autosync. This page explains what the key can and cannot do, how to create one on Binance with reading only, and how to revoke it when you are done.
Parent product path: Binance Futures trading journal. Import steps: Binance Futures import. All import paths: import hub.
Try hyerlo.com.
What a read-only key is
An exchange API key is a credential pair. Usually that means a key plus secret. Some accounts use a self-generated asymmetric key instead. Third-party software talks to the exchange with those credentials. Permissions decide what the software is allowed to do.
Read-only means the key can fetch balances, orders, fills, and related account data. It cannot open or close positions. It cannot withdraw coins. Leave transfer permissions off too, so the key cannot move funds between wallets.
That split matters for a journal. Hyerlo only needs history and account reads so your trades dock, charts, and widgets stay current. Trading and withdrawal rights would expand blast radius for no journal benefit.
Why Hyerlo asks for read-only only
Binance Futures autosync on Hyerlo is live on Breakout and Expansion. The connect flow expects an Enable Reading key. You paste the key and secret. Hyerlo syncs fills. Review tools take over from there.
Bybit, Phemex, Hyperliquid, and Binance USDM stay on CSV import today, with autosync coming. If you refuse keys entirely, Base still works with manual entry, and paid plans keep CSV for those venues. Keys are optional for the whole product, required only when you want Binance Futures autosync.
Permissions table
| Permission or control | Needed for Hyerlo Binance Futures autosync | Risk if wider than reading |
|---|---|---|
| Enable Reading | Yes | Low when limited to reading |
| Spot or Futures trading | No | Orders can fire from a leaked key |
| Withdrawals | No | Funds can leave the account |
| Universal Transfer | No | Internal wallet moves without your click |
| IP allowlist | Optional | Tightens who can call the key; set only after you confirm Hyerlo still reaches it |
| CSV fallback | Always available | No key stored; backfill by file instead |
How to create a read-only key on Binance Futures
Steps below follow Binance’s public FAQ “How to Create API Keys on Binance?” (support article 360002502072, last updated March 2025 on Binance’s site at the time of writing). Menu labels can move; treat the live Binance UI as source of truth if something differs.
Before you create the key
Binance requires:
- Identity verification completed.
- Two-factor authentication (2FA) enabled.
- A Spot Wallet deposit of any amount so the account is activated for API creation.
Enable your Futures account before you create the key when you can. Binance documents that keys created before Futures activation often cannot gain Futures related permissions later.
Create the key (website)
- Log in to Binance. Open the profile icon, then Account.
- Open API Management, then Create API.
- Prefer a system-generated HMAC key for a simple journal connect. Self-generated Ed25519 or RSA keys are fine if that is already your policy.
- Enter a clear label such as
hyerlo-readso you can find and revoke it later. - Complete 2FA / passkey checks.
- Copy the API key and secret immediately. Store the secret in a password manager. Binance will not show the secret again.
- Leave permissions at Enable Reading only. Do not enable trading, withdrawals, or Universal Transfer.
- In Hyerlo, open connect exchange, choose Binance Futures, paste the key and secret, and finish the connect flow.
{/* screenshot: Binance API Management with Enable Reading only */}
{/* screenshot: Hyerlo connect screen awaiting a read-only Binance Futures key */}
IP restriction notes
Binance’s FAQ states that unrestricted system-generated HMAC keys are limited to reading. That matches what Hyerlo needs. If you add IP allowlists, do it only after you confirm the journal can still call the key. Withdrawal permission on Binance requires IP restrictions; Hyerlo never needs withdrawal, so do not turn it on.
Security checklist
- Use a dedicated key labeled for Hyerlo. Never reuse a trading bot key.
- Keep Enable Reading only. Recheck permissions after any Binance UI change.
- Store the secret once in a password manager. Do not paste it into chat, email, or screenshots.
- Prefer one key per journal or integration so revoke is clean.
- If you use subaccounts, create keys on the account that actually trades so PnL does not blend.
- Revoke any key you no longer recognize on the API Management page.
- Prefer CSV or manual entry when you are not willing to store a key.
How to revoke a key
- Open Binance then Account then API Management.
- Find the Hyerlo labeled key.
- Delete or disable it in the Binance UI.
- In Hyerlo, disconnect the Binance Futures account so the journal stops expecting that credential.
- Create a fresh read-only key later if you reconnect.
Revoking on the exchange is the hard stop. Disconnecting inside Hyerlo stops sync; revoking on Binance invalidates the credential itself.
What Hyerlo stores (claim-safe level)
Hyerlo needs the key and secret to call Binance on your behalf for autosync. Treat the secret like a password. Prefer a short lived, clearly labeled key you can revoke in one click. Exact storage internals beyond what is public on hyerlo.com docs are out of scope for this page; ask support or read the live docs if you need a deeper security writeup.
CSV and manual paths when you skip keys
You can still journal Binance Futures without an API key:
- Export Futures trade or fill history as CSV and upload it in Hyerlo (Binance Futures import).
- Enter trades by hand on Base ($0 forever for manual trades only).
Paid plans keep both CSV and manual even when autosync is available. Autosync seats: Breakout covers 3 accounts at $15/mo ($11 launch). Expansion is unlimited at $30/mo ($22 launch). Launch pricing covers the first 100 members or until Dec 31 2026, whichever comes first.
Frequently asked questions
Does a read-only key let Hyerlo trade for me?
No. With Enable Reading only, the key cannot place orders or withdraw. Leave trading and withdrawal permissions off.
Is Binance Futures autosync live?
Yes. Read-only API autosync for Binance Futures is live on Breakout and Expansion. See the Binance Futures trading journal.
Do I need IP restriction for Hyerlo?
No. Unrestricted HMAC keys that stay on reading match the journal need. Add IP allowlists only if your own policy requires them and after you confirm sync still works.
What if I will not paste any key?
Use CSV import or manual entry. Start from the import hub.
How do I rotate a key safely?
Create a new read-only key, connect it in Hyerlo, confirm sync, then revoke the old key on Binance and disconnect the old credential in Hyerlo.
Related pages
Create a reading-only Binance key when you want live sync, or stay on CSV and manual when you do not. Try hyerlo.com.