When you link your Binance account to CoinMarketCap or any external service, you are usually not adding your wallet (Web3 Wallet) directly, but linking the account through what is called 'API keys'.
What are API keys?
It is a set of codes that allows an external application (like CoinMarketCap) to access your account data on the Binance platform and read it. In this case, CoinMarketCap can track your balances and trading (for viewing only) to display them in your virtual wallet on the site.
Is this safe?
Yes, in general this is considered safe as long as you follow the correct steps and adhere to certain precautions:
* Choose permissions carefully: When creating the API key on Binance, make sure to enable 'read-only' permission. Never enable withdrawal or trading permissions, as this gives the external service the ability to move your funds. The Binance platform itself warns against this.
* Uses of the API key: The API key is intended for tracking your wallet and trading, not for withdrawing funds. CoinMarketCap uses it to display your data only.
* CoinMarketCap as a trusted platform: CoinMarketCap is owned by Binance, which means there is a high level of trust and security between the two platforms.
In short:
Adding your Binance account to CoinMarketCap using 'read-only' API keys is a safe procedure to track your assets. There is no risk regarding withdrawals, as long as you do not grant withdrawal permissions.
Important notice:
Always be careful when linking any accounts or wallets to any external service, and make sure you understand the permissions you are granting.
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