Trade related questions
There is no bad question! Feel free to ask!
How does Profit Manager see my stock account?
Communication is done through a secure interface connection using API keys. The corresponding API key must be created by the user in his Binance Exchange account, and then you can save and configure it in the - corresponding Settings menu. Both your API key and your login ID are managed by Profit Manager with the highest level of security, supported by AMAZON AWS Key Management Service. Communication then takes place via this authenticated connection, and the orders issued are saved (and thus can be checked back) in both Binance and Profit Manager
What is an API key?
An API key is a randomly generated string of numbers and letters that allows a system to connect to the services of another system in a managed way. That is, in our case, we can issue predefined trading orders to the Binance system without the user having to log in to the exchange.
In the video below, you can see how you can change your trading privileges that expire every 90 days in a few minutes, and you can also see where within Binance you can manage your API keys.
Where are my cryptocurrencies stored?
Where are my cryptocurrencies stored. All cryptocurrencies are stored on the Binance exchange, and Profit Manager gives trading instructions to my own Binance account via a secure and encrypted user-created interface (API) connection.
Can Profit Manager transfer my cryptocurrencies out of Binance?
There is no function in Profit Manager to initiate the withdrawal of cryptocurrencies from your stock market account. It is recommended that you remove this possibility in principle when generating the API key, and create a read and trade key only, and do not give the withdraw right to the API key used for the Profit Manager system. It is also recommended that a new API key is generated for each connection to the Profit Manager for future follow-up and increased security, and that an API key already used elsewhere is not provided (even if the existing key would otherwise have appropriate privileges).
Binance is a secure provider?
Binance is one of the world's largest crypto exchanges with one of the widest ranges of crypto exchanges and independent platforms in many countries around the world. Security is supported by two-factor authentication, which can be SMS or Google Authenticator based. Withdrawals can be protected by so-called whitelist addresses, which, when used, only allow money to be transferred to addresses pre-saved by the user. It is also possible to enter an anti-phishing code, which Binance sends (as a confirmation) in every email, proving that the message has come from a trusted source.
How can I pay the Profit Manager service fee?
In the Profit Manager system, you can buy StopLoss Tokens, which are used to pay the fee for using the system. The user can transfer Binance Coin (BNB) (via BEP20 protocol) to a BNB sub-account within the Profit Manager system, from where the StopLoss Token purchase is automatically made at the current exchange rate.
What is a StopLoss Token?
The StopLoss Token is the Profit Manager system's own internal cryptocurrency, which is used to settle the Profit Manager system's usage fee. The current price of the StopLoss Token is determined by the current exchange rate of the token, but different discounts are available depending on the amount and time of purchase.
Is the settlement of fees manual or automatic?
The Profit Manager automatically deducts the system usage fees (monthly fee + profit fee) from the available StopLoss Token balance according to the current exchange rate. Thus, if you buy 1,000 StopLoss Tokens at a rate of USD 0.6 (for a 20% discounted fee) and then pay the current fee for USD 100 at a rate of USD 0.7 StopLoss Token, the system will redeem fewer StopLoss Tokens, so you will get access to the service for fewer tokens.