- How do I connect the Coinbase Pro API to ACCOINTING.com, so I can automatically import my transactions and calculate my Coinbase Pro taxes?
- Why does ACCOINTING.com say “unknown sender” and “unknown receiver” on my Coinbase Pro Transfers?
- Why are my Coinbase Pro transfers appearing in Coinbase?
If you’ve ever had any of these questions relating to the Coinbase Pro API, and its transfers, this article is for you. In this article, we will try to answer these questions, and more, so that you can know how it all works.
Connecting the Coinbase Pro API
Do the following to connect your ACCOINTING.com account to your Coinbase Pro:
- Create a new API Key on Coinbase Pro
- Connect ACCOINTING.com to Coinbase Pro using the newly created key.
Creating the API Key
Go to the “API” page and create a new API key. The API key should include the “View” permission and your choice of a passphrase and nickname. The screenshot below shows an example of what this would look like.
Example of the creation of a new API Key on Coinbase Pro
Once the API Key is created, Copy the Secret and continue on to “Using the API Key”.
Using the API Key
To connect your Coinbase Pro account to ACCOINTING.com, go to the page located here and enter your credentials into the corresponding boxes. The public key is listed on the new key you just created.
The video below shows an example of this whole process.Example of creating your API Key and connecting it to ACCCOINTING.com
How the Coinbase Pro API Works
Trades on Coinbase Pro work as you’d expect, transfers work a little differently though. The screenshot below shows you what these transfers look like.
Example of the transactions into and out of Coinbase Pro using the API
If you’ve noticed, the transactions say “unknown sender” and “unknown receiver” on them instead of the address. It does this because, whenever you transfer anything into and out of Coinbase Pro, it must first go through Coinbase before getting to its final destination. If we connect to the Coinbase Live Connection as well, the missing information automatically gets filled in and also classifies the transactions as internal. The screenshot below shows what this would look like if we did that.
Example of the same transactions above using both the Coinbase Live Connection and the Coinbase Pro API
As you can see, by using both the Coinbase Live Connection and the Coinbase Pro API, the transactions get cleaned up for you automatically. You can go to “Using the Coinbase Live Connection with ACCOINTING.com” to learn about how to do that.
By now, you should have a decent understanding of how the Coinbase Pro API works and how to connect it to ACCOINTING.com. Just in case you skipped over the article, working with this API is simple. To summarize, you can import your transactions automatically by connecting your API key. Connect your Coinbase account using the Live Connection as well, to automatically detect internal transactions.