How to Link Coinbase Pro API Keys
Need help connecting your Coinbase Pro account to Shrimpy?
We’ve got you covered!
If you haven’t signed up for Shrimpy yet, start by signing up here:
Now that you have a Shrimpy account let’s dive into how to connect these two services via API keys to get the most out of your cryptocurrency portfolio.
What are API Keys anyways?
An API key and API secret are like a username and password. These keys allow Shrimpy to communicate with the exchange in order to perform trades. Basically in order to rebalance and diversify your portfolio we need an API to talk to the exchange.
Before we start…
Shrimpy allows for any number of exchange accounts to be linked to a single Shrimpy account. That means if you want to have 10 Coinbase Pro accounts linked to Shrimpy, you are more than welcome. If you want to link 3 Bittrex, 1 Binance, 9 KuCoin, 5 Coinbase Pro, 7 Kraken, and 31 Poloniex exchange accounts, this is all possible inside a single Shrimpy account.
If you’ve already connected your API Key and would like to jump ahead, read about our research from over 200,000 tests on how portfolios would have performed with different numbers of cryptocurrencies.
How to get Coinbase Pro API Key and Secret Key
Note: There are a number of confirmation and set up stages in-between each of these steps. Some of the missing steps include steps for setting up and entering 2FA codes. These were excluded because there were many of these intermediate steps.
Step 1
Log into your Coinbase Pro account. Once you have logged in, you will see a page that looks similar to the one shown above. You can navigate to your API keys by selecting the drop down menu next to your name, then selecting “API”.
Step 2
Once you have navigated to the API Settings page on Coinbase Pro, click on “New API Key”.
Step 3
While creating your keys, it is important to remember that Shrimpy requires access to APIs for trading and collecting data on your account. You can see in the above image all of the settings that should be enabled on your Coinbase Pro API keys. These include: “View” and “Trade”. Shrimpy does not require “Transfer”. This option should be left disabled.
Note: Before continuing, Coinbase Pro has an extra component to their API Keys. This is the “Passphrase”. This passphrase should be copied into a secure location so you can input this passphrase into Shrimpy in the future. You can see that the “Passphrase” is located on this screen. Take a moment to copy this value.
Once these have all been enabled, create the API keys by clicking “Create API Key”.
Step 4
Once the keys have been generated, you should be taken to the following page. This page shows the “API Secret”. This value should be copied and stored in a secure location along with your “Passphrase”. This screen will not be shown again, so there is no way to retrieve this secret once you close out of this screen.
Step 5
The final component to your API keys is the public key. This key is found on the page shown above. This last value should be copied so it can be input in the Shrimpy application and link these two accounts.
Step 6
Now that you have the 3 different components for your Coinbase Pro API Keys, you can connect your account to Shrimpy.
Once you have logged into Shrimpy, select “Coinbase Pro” as your exchange and paste your “API key”, “Secret Key”, and Passphrase into the Shrimpy application. You can find the page to input new exchanges by navigating to “Settings” and then “Exchange”. Once the keys and passphrase have been copied into the correct fields, click the “LINK EXCHANGE” button.
At this time data will populate in your account dashboard. If it does not populate immediately, please allow up to 15 minutes for the data to populate. If it still does not populate after 15 minutes, please contact us at support@shrimpy.io.
Step 7
Congratulations! You have successfully connected your API keys to Shrimpy.
It’s now time to experience the exciting features that are waiting for you inside the application. Starting with the “Portfolios” tab. Clicking this tab, you will see that you can select to “Create new portfolio”. Once you select to create a new portfolio, it will take you to the allocations page. On this page, select “Add Asset”. This is how you add assets to your portfolio.
These are the assets that will be bought or sold in order to reach your target allocations. The target allocations are the assets and percentages that are specified under “My Allocations”. Anything that is not in your allocations will be sold in order to buy these assets. Essentially, treat this list of assets that you select as what you want your entire portfolio to become. Shrimpy will do the rest to reach this goal.
After selecting the assets you want to hold in your portfolio, select to “Save” the portfolio. After saving the portfolio, you can also select a rebalance period and save that as well.
Step 8
The “Rebalance Now” button is the way you let Shrimpy know you want to perform trades immediately. Once you hit that button, it will perform all of the necessary trades to reach the target allocations that were specified on the “Allocations” page. If your portfolio has already been created and is close to your target allocations, it will simply realign your allocations to match your target allocations.
Remember, you can automatically schedule rebalances by selecting a “Rebalance Period” on the page where you selected your portfolio.
That’s it! You are now automating your portfolio on Coinbase Pro. Check out some of these related links to learn more about rebalancing, Shrimpy, and other portfolio strategies.
Important Links
Portfolio rebalancing for cryptocurrency
Rebalance vs HODL: A Technical Analysis
About Shrimpy
Shrimpy is an automated crypto trading & portfolio management tool that lets users automate their crypto portfolio strategy like a traditional index fund. Shrimpy has a consumer application for retail consumers and a Crypto Trading API for developers and advanced traders.
Shrimpy Application
The Shrimpy App is a portfolio management solution for cryptocurrency and digital asset owners. Through its unique indexing and rebalancing engine, Shrimpy lets traders manage their crypto assets similar to that of a traditional index fund. By providing a simple passive management solution, Shrimpy provides users with an effective long-term solution for managing their crypto assets without ever having to trade.
The free version of Shrimpy includes complete indexing and rebalancing features for ALL users. Shrimpy also offers a monthly premium subscription for $8.99/month, which includes:
Shrimpy Social: Follow, communicate, and share strategies with other Shrimpy traders.
Shrimpy Insights: Learn how other Shrimpy users are constructing and managing their crypto portfolio.
Advanced Backtesting: A robust backtesting tool for evaluating custom cryptocurrency portfolio & strategies.
Shrimpy API
Beyond the consumer app, Shrimpy also offers an API for developers looking to integrate scalable exchange trading functionality into their app.
Shrimpy’s Crypto Trading API was created as a cloud-based solution to address several crypto developer roadblocks including Exchange Trading, Product Scalability, and User Management. With Shrimpy’s API in hand, developers can focus on creating the next era of groundbreaking products that will shape the future of crypto trading.
Traders and developers can leverage Shrimpy’s existing trading infrastructure for trading platform/app development instead of having to manage connections to each and every exchange.
Originally published at blog.shrimpy.io.
