Binance API handling when providing new key

[Herbert]

What i am wondering now aka what i am afraid of:
Since i am going to create a new “Tax import API Key” in order to assign it to my already existant Binance Koinly wallet, how will this my already existant entries like Trades, Transfers, Staking anything.

Will this previously entered information get deleted?
Will there be double entries?
Will it in general mess up my previously entered entries?

Backup Information:
Binance will delete my API Key around tomorrow and there is actually no way for me to prevent this as i was alredy having a conversation with the Binance support.
Koinly does not provide specific IP-Adresses for whitelisting (whitelisting could have prevented my API Key from getting deleted)

My API Key is a basic API Key created early 2021 and not a “Tax import API Key” which came in later as a new feature of Binance. However i my API Key in use was created before this feature was implemented. As far as i know the “Tax import API Key” is just a basic API Key which is specifically meant to not get deleted by such protective measures as deletion if it was not used for a certain time or there is no whitelisted IP-Adress. The “Tax import API Key” is strictly read only by default as well.

Since late summer 2022 i actually did not do any trade, transfer, anything on my Binance Trading account.
I got all entries leading up to that date. This is the current state of things.

I´d be glad to know what will really happen when providing the new API Key in my Koinly to the Binance Wallet.
Thanks!

[Alan.Knight]

I’ve just done the same thing - long story short, it all worked out fine.

Binance has recently changed API usage terms, so everyone (koinly users) will have to create new API keys every 30 days - unless Koinly sets up a static IP address to allow it to be whitelisted in you Binance account.

Anyway, I also had used a standard Binance API key for koinly to collect data. I also had manual transactions as in the early days trades done within the ‘conversion’ option where not captured.

I’ve now had to go into Binance and create their new ‘Tax Report’ API key and add this data into my current Binance Koinly wallet (ie just over write the API details). Clicked sync and crossed my fingers - and fortunately it all worked out fine, it did not duplicate any data, it didn’t lose/delete any data. Note: it would be hand if Koinly had a ‘undo’ button if anything did happen.

[Herbert]

Hi Alan,
thank you so much for this comment and the info! Very much appreciated.
I am glad to hear this! Let´s hope Koinly sets up the IP soon.
My apologies for the late reply, i just wanted to let it rest for me without looking into any of my Exchanges and Koinly for a longer time.
The idea with the undo button is super great.
Again very much appreciated.
Best regards.

[Michael_Koinly]

Hi @Herbert and @Alan.Knight,

Thank you both for your awesome patience with us and welcome to the Discuss community, Herbert!

We appreciate you so much, Alan, for the helpful comment and supporting everyone with the info!

We have a static IP feature that the dev team has on their roadmap! I don’t yet have an ETA, though if you add your vote to it, you’ll be immediately notified once the dev team has completed their magic!

Brother Alan, you have a stellar idea for developing feature for an undo button!

Would you mind adding that to our roadmap and include any additional specifics that you would want to see in Koinly?

Thank you both for being enthusiastic and shining a light on this idea!

Have a wonderful day!