/
Coinbase

Coinbase

Owned by Charles Wernicke
Last updated: Mar 19, 2025
4 min read

These instructions will guide you through using Coinbase as a Hot Wallet or Exchange (or both).

Coinbase Pro (Advanced Trade) is currently unsupported as a Hot Wallet (Exchange only).

  • The Coinbase Pro rate source is no longer functioning (discontinued by Coinbase).

    • Change your rate source to: “Coinbase.com Rate Source” when using Coinbase.

Effective July 17, 2024, Coinbase changed their API key generation format.

  • Release 20241231.13+ supports the new CDP API keyset.

    • Prior version keys (“deprecated”) are supported until Coinbase deactivates them.

1. Login to your Coinbase account at https://coinbase.com

2. Create a new API key:

a) Navigate to: Settings > API > API Key management

b) Click on the button “Create API Key”.

image-20250213-185138.png

c) Configure the API setting:

image-20250213-185911.png

  1. Enter a useful name/description.

  2. Select the relevant Portfolio.

  3. Enable all permissions.

  4. Add your CAS IP to the IP whitelist.

  5. Click “Create & download”.

d) Complete the 2FA challenge.

3. Save the API key:

Download the file somewhere safe, it contains the same data shown on the screen. Since it can be used to access your funds, be sure to keep it safe, i.e. in your password app, or on an encrypted backup drive.

image-20250213-190552.png

Copy & save the API key name, and Private key.

You'll only be shown this data ONCE. 

  • If you lose the key, you'll have to create another API key.

4. Enter the required information into CAS:

  • Set the Rate Source to Coinbase.com

    • The Rate Source defaults to USD, but many other fiats are supported by Coinbase.

  • Use the same string for both BUY and SELL options (as applicable). 

  • You may use the same Crypto Setting for both Hot Wallet & Exchange (recommended).

Configuring as a Hot Wallet:

The Hot Wallet parameters for Coinbase.com are:

  1. Private Key

  2. Key Name

  3. (optional) Account Name: the relevant Coinbase "wallet". Coinbase no longer supports wallet name customization, and any erroneous entry here is ignored (and not required).

    • Use “anything” (or nothing) - the parameter is optional and deprecated.

The parameters should be in this format: privatekey : keyname : accountname

  • Entered in sequence, on one line, separated by a colon, it looks similar to this:

    -----BEGIN EC PRIVATE KEY-----\nMHcCAQFEInM6OYKmoNA4ZCwVPIlvOp7F56B+9LRdh8EzV3kn855ioAoGCCqGSM49\nAwDHoUQDQgAEAceSV1SeW3Jk9apF6R6XOseRG0fv12bTaW0ZtNU0bMOQy+YoPjwf\nyRBo0dLpKa33RQgslWcvDjIqbIXjYN29EA==\n-----END EC PRIVATE KEY-----\n:organizations/f9b26efd-74d3-42b8-8238-0dc448e878f0/apiKeys/545d5337-436b-4b07-9a37-3bc768504fb4

Configuring as an Exchange:

The Exchange parameters for Coinbase.com is:

  1. Private Key

  2. Key Name

  3. (optional) Account Name: the relevant Coinbase "wallet" (e.g. "BTC Wallet”)

  4. (optional) Fiat Currency: currently either USD, EUR, or GBP

  5. (optional) Payment Method: the funding Coinbase "wallet" (e.g. "USD Wallet")

The parameters must be arranged in this order:

privatekey : keyname : accountname : fiatcurrency : paymentmethod

  • if the optional arguments are omitted, also omit the colons.

  • Entered in the proper sequence, on one line, separated by colons (no spaces), it looks similar to this:

    -----BEGIN EC PRIVATE KEY-----\nMHcCAQFEInM6OYKmoNA4ZCwVPIlvOp7F56B+9LRdh8EzV3kn855ioAoGCCqGSM49\nAwDHoUQDQgAEAceSV1SeW3Jk9apF6R6XOseRG0fv12bTaW0ZtNU0bMOQy+YoPjwf\nyRBo0dLpKa33RQgslWcvDjIqbIXjYN29EA==\n-----END EC PRIVATE KEY-----\n:organizations/f9b26efd-74d3-42b8-8238-0dc448e878f0/apiKeys/545d5337-436b-4b07-9a37-3bc768504fb4:BTC Wallet:EUR
image-20250319-174218.png

5. Save the crypto settings!

6. Test it (you’re done):

Test your settings before deploying them.

  1. Save your setting first,

  2. return to the same Crypto Setting,

  3. run the test(s).

See: https://generalbytes.atlassian.net/l/cp/9Zdit1KP

 



Related content

Copyright © 2020-2024 General Bytes USA LLC