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Giving Secret Key and API key to trading program, a scam?

Binance

Cryptocoins Exchanges / Binance 238 Views

Good evening folks,Please pardon me if this is a noob question.

A family member of mine recently started trying a trading program which links to Binance via API. This program requests Reading and Spot & Margin Trading rights but not withdrawals.

Is this program safe to use? I have some software development experience so I understand that giving API keys are generally safe as long as you restrict the program from withdrawing from your account.

However I lack understanding on the "Secret Key" aspect.
My concern is that the secret key on Binance can be used to edit app permissions in the future.
Is this ever possible?

Thank you once again, I am really concerned. Any help would be appreciated, thank you.

submitted by /u/tehbuffcow
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