How to set up Binance sub-accounts? How to allocate permissions?

Setting up Binance sub-accounts and allocating permissions is a crucial feature for users who manage multiple trading strategies or share trading responsibilities with others. In this article, we will guide you through the detailed process of creating sub-accounts and managing their permissions on the Binance platform.

Creating a Binance Sub-Account

To begin setting up a sub-account on Binance, follow these steps:

• Log into your Binance account and navigate to the user icon in the top right corner of the page. Click on it and select 'Dashboard' from the dropdown menu.
• On the dashboard, locate and click on the 'Sub-Account' tab on the left-hand side menu.
• Click on the 'Create Sub-Account' button to start the process.
• A form will appear where you need to enter the sub-account name and email address. The email address will be used for the sub-account login.
• After filling in the details, click on 'Create Sub-Account'. You will receive a confirmation email to the provided email address, which you need to verify to activate the sub-account.

Setting Up Sub-Account Permissions

Once your sub-account is created and verified, the next step is to allocate permissions. Permissions determine what actions the sub-account can perform on the main account. Here's how to set them up:

• From the 'Sub-Account' tab, select the sub-account you wish to configure by clicking on its name.
• You will be directed to the sub-account management page. Here, click on the 'API Management' section.
• To set up API permissions, click on 'Create API Key'. Fill out the required information, including the name for the API key and the IP restriction if needed.
• After creating the API key, you can customize the permissions by selecting 'Edit Permissions'. You will see a list of permissions including Spot & Margin Trading, Futures Trading, and others.
• Check or uncheck the boxes to grant or deny specific permissions. For example, if you want the sub-account to have access to spot trading but not futures, you would check the box next to 'Spot & Margin Trading' and leave the 'Futures Trading' box unchecked.
• Once you have set the desired permissions, click 'Save' to apply them.

Transferring Assets to Sub-Accounts

To enable trading on sub-accounts, you need to transfer assets from your main account. Here's how to do it:

• Go to the 'Sub-Account' tab and select the sub-account you want to transfer assets to.
• Click on 'Transfer' within the sub-account management page.
• Choose the 'Transfer In' option to move assets from your main account to the sub-account.
• Select the cryptocurrency you want to transfer, enter the amount, and click on 'Submit'.
• Confirm the transfer by entering your main account's 2FA code and clicking 'Confirm'.

Managing Sub-Account API Keys

API keys are essential for automating trades or integrating with third-party services. Here's how to manage API keys for your sub-accounts:

• Navigate to the 'Sub-Account' tab and select the sub-account.
• Go to the 'API Management' section and click on 'API Key'.
• Here, you can view, edit, or delete existing API keys. To create a new API key, click on 'Create API Key'.
• After creating a new API key, you can set permissions as described in the previous section on setting up permissions.

Monitoring Sub-Account Activities

It's important to monitor the activities of your sub-accounts to ensure they are operating as intended. Here's how to do that:

• From the 'Sub-Account' tab, select the sub-account you want to monitor.
• Click on 'Overview' to see a summary of the sub-account's activities, including trading history, asset balances, and recent transfers.
• For more detailed information, click on 'Trade History' to review all trades executed by the sub-account.
• If you need to review API activities, go to 'API Management' and click on 'API Log' to see a log of all API calls made by the sub-account.

Frequently Asked Questions

Q: Can I create multiple sub-accounts on Binance?A: Yes, you can create multiple sub-accounts on Binance. There is no limit specified by Binance on the number of sub-accounts you can create, but each sub-account must have a unique email address.

Q: Can I change the email address associated with a sub-account?A: No, once a sub-account is created, you cannot change the email address associated with it. If you need to use a different email, you will have to create a new sub-account.

Q: Are there any fees associated with using sub-accounts on Binance?A: Binance does not charge additional fees for creating or using sub-accounts. However, the trading fees and withdrawal fees apply to sub-accounts just as they do to the main account.

Q: Can sub-accounts access the same API keys as the main account?A: No, sub-accounts have their own separate API keys. The main account's API keys cannot be used by sub-accounts, and vice versa. Each sub-account must have its own API keys created and managed independently.