How to Create API Keys on Coinbase
It allows for the automation of processes like trade execution, wallet addresses retrieval and funds withdrawal (to your bank account). For example, you can select permissions for viewing, trading, or transferring –> You can select permissions for viewing, trading, or transferring.
Shall we see how to do this?
Step 1: Log in to Your Coinbase Account
- Go to the official Coinbase website and log in with your credentials.
Step 2: Access Your Account Settings
- In the upper right corner of the screen, click on your profile picture or user icon.
- Select Settings from the dropdown menu.
Step 3: Go to the API Section
- Within the settings, find and click on the API tab.
- Here, you will see an option for + New API Key. Click on it.
Step 4: Configure the API Key
Choose the permissions you want to assign to your API key. For example, you can select permissions for viewing, trading, or transferring.
Permissions When Creating the API Key
When creating an API Key on Coinbase, you will be presented with a list of permissions that you can assign to the key. The interface usually includes checkboxes next to each permission. In the image below you can check the permissions you will see on Coinbase:
To ensure that Nicky functions correctly and provides the best user experience, it is important to enable the View, Trade, and Transfer permissions when setting up your API Key. By enabling these three permissions, you allow Nicky to comprehensively and automatically manage your cryptocurrencies, offering integrated and efficient monitoring, trading, and transfers.
View: Allows Nicky to access read-only information about your balances and transaction history, so it can monitor your account accurately and up-to-date. This ensures that you have detailed and reliable payment reports, making financial management easier
Trade: With the Trade permission, Nicky can carry out trade operations in your account. This is used for fiat withdrawal, when you are paid in crypto but you want to withdraw regular currency to your bank account.
Transfer: The Transfer permission allows Nicky to perform bank withdrawal operations, to your chosen bank account.
By enabling these three permissions on Coinbase, you ensure that Nicky can operate in an integrated and efficient manner, providing all the necessary functionalities to manage your payments, transactions, and transfers securely and smoothly.
IP Whitelist blank:
Leave the IP Whitelist field blank during the API key configuration. Otherwise, Nicky’s server may not be able to access the API if the IP is not included in the allowed list.
Step 5: Generate the API Key
- After setting up the permissions and defining security restrictions, click on Create API Key.
- You will need to enter your two-factor authentication (2FA) code if it’s enabled on your account.
- The API key will be generated, and you will see an API Key and API Secret. Copy and store these details in a safe place, as you will not be able to view them again after leaving the screen.
Step 6: Configure the API Key on Nicky
Open NICKY in your browser and log in with your credentials.
- Access the Settings Page
- If you’re using the desktop version, access the settings page by clicking on the menu in the top right corner of the page and then selecting Settings.
- Navigate to the Connections Section
- Within the settings page, you’ll see several tabs. Click on the Connections tab to access the connections section.
- Add a New Connection
- Within the Connections section, click on Add Connection to start configuring a new connection.
- Configure the Wallet Service Provider
- Select Wallet Service Provider: On the add connection page, select Wallet Service Provider.
- Enter Coinbase’s Information: Fill in the required fields with the information provided by Coinbase:
- API Key: Enter the API key from Coinbase.
- Private Key: Enter the corresponding Private API.
- Name: Choose a name to identify this connection.
- Add Connection: After filling in all the fields, click on the Add Connection button to complete the configuration.
- Upon clicking Add Connection, NICKY will update the page displaying all the wallets you have already created.
Remember: The API key has the power to access, trade, and in some cases, transfer funds from your account, depending on the permissions granted. It’s crucial to keep it secure and use it responsibly.
If you need a more detailed visual guide, you can visit the Coinbase Help Center or look for tutorials on YouTube that show the Coinbase interface. This can help you visualize exactly where these options are located in the user interface.