Using API for Internal Wallet Transfer

Hi,

I’m a PHP/laravel developer, and I have plenty experience with API’s, but I have zero experience with Binance (so I apologise in advance for any stupid questions or remarks).

One of my clients has a PHP/Laravel application which is a community platform with members. He wants to transfer certain amounts from the wallet of user A to the wallet of user B. If both users have a Binance account, then this would be an ‘Internal Wallet Transfer’, if I understand correctly.

When I check the documentation, on https://www.binance.com/en/support/faq/360037037312 I can see that this process is pretty straightforward, and uses 2FA.

My big question is: can I make a complete ‘Internal Wallet Transfer’ through the API?
If so, what is the endpoint? What are the specific parameters?

And what about security? If I have the API keys of User A, is this enough (no 2FA)??

Any advice, would be REALLY helpful.

S. Hoeksma
The Netherlands

If both users have a Binance account, then this would be an ‘Internal Wallet Transfer’, if I understand correctly.

Correct

My big question is: can I make a complete ‘Internal Wallet Transfer’ through the API?
If so, what is the endpoint? What are the specific parameters?

You can use the Withdraw endpoint to transfer assets from an account to another. The endpoint requires the coin to be withdrawn, the destination address and the amount to be transferred as parameters.

https://binance-docs.github.io/apidocs/spot/en/#withdraw-user_data

In addition, please follow the Signed endpoint rules and provide the timestamp and your signature. Here is a snippet example using PHP.

And what about security? If I have the API keys of User A, is this enough (no 2FA)??

The first time withdrawing to a new address, the user must follow the 2FA method. Subsequent withdrawals will not require 2FA.

1 Like

Thank you very much. That is VERY helpful!
From a security point of view, that makes perfect sense.

But I see a few practical problems with 2FA. What if User A wants to transfer amounts to 25 NEW members every month through the API. Would that mean that user A has to do the 2FA method 25 times?

And if you say ‘Subsequent withdrawals will not require 2FA’ (for a known address), is that for ever? Of for a limited time (6 months, a year, …).

I can not find any documentation on 2FA in the API docs. And my client wants a community platform with monthly payouts to the members of this community. I’m trying to figure out if we can fully automate this throught the API.

Thanks in advance.

I meant to say the account performing the withdrawals must have 2FA activated to perform withdrawal requests.

2FA is not required to perform API withdrawal requests.

Sorry for the confusion.

Oh, that is excellent.
Thanks!