Your machine can be configured to connect to an exchange, allowing for the automatic repurchase of cryptocurrency at current market rates with each transaction made through your machine. This feature helps to mitigate price volatility and ensures that your wallets are consistently replenished.
Follow this article to link a Binance.com account to your machine. For a more general explanation of this process and examples, read our article 'Wallets, Exchange Linkage, and Volatility'.
Signing up for Binance
Visit https://accounts.binance.com/en/register and sign up with a name, email, and password.
Obtaining the API Key.
First, log in to your Binance account and navigate to the API Management page.
Edit restrictions and make sure to check the "Enable Spot & Margin Trading" option, as this is required for the API to function properly.
We recommend choosing [Restrict access to trusted IPs only] for security reasons adding your droplet IP address and hit Save and pass the security verification.
Configuring in your admin.
Go to the 'Settings > 3rd party services' menu in your Lamassu admin and click the pencil icon on the Binance panel.
Paste the API Key and Private Key credentials, and click the'Save changes'button.
Then, navigate to the 'Settings > Wallet' menu. Click the pencil icon for the coin that will be using Binance as an Exchange.
Select 'Binance' from the Ticker and Exchange columns drop-down menu and then click 'Save'.
Now, you should be able to purchase directly from Binance as each transaction is being performed on your Lamassu machine.
⚠️ NOTE: The API key must be used in your lamassu-server instance only and shouldn’t be reused in any other system.
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