API stands for Application Programming Interface. As the name already suggests, it is an interface used to link the ProfitBird platform with the exchanges.
If you provide your ProfitBird account with the API Key and Secret of your Coinbase Pro account, then the ProfitBird Platform is able to invest and trade on your exchange account on your behalf. So the API Key and Secret act as a unique identifier for authentication.
Note that you can assign access rights to your API Key and Secret if you generate them. We always recommend to disable the permission to deposit or withdraw funds from your exchange account using the API Key and Secret. This means that ProfitBird does not have access to your funds.
Follow the steps below to generate & store your API key and Secret:
1. Sign in to your Coinbase Pro account by going to https://pro.coinbase.com.
2. Go to your account settings by pressing your account name and press API:
3. Create a new API Key by pressing the + New API Key button:
4. Define the portfolio for which the API Key holds (e.g. Default Portfolio) and give an API Key nickname. Give both View and Trade permissions to the API Key. Make sure the Transfer permission is unchecked, so no deposits or withdrawals can be made with the API Key. Store the Passphrase at a safe place for later use on the ProfitBird Platform and give (optionally) an IP Whitelist. In this guide, we will leave the IP Whitlist empty. Press CREATE API KEY:
5. If you have enabled 2 Factor Authentication, provide the requested code.
6. Store the generated API Secret at a safe place as it will not be shown again on your Coinbase Pro account. The API Secret is required on the ProfitBird Platform to link your Coinbase Pro account with your ProfitBird account. Press DONE:
7. The API Key has now been generated. Next to the Passphrase (step 4) and the API Secret (step 6), also the API Key should be stored at a safe place for later use on the ProfitBird Platform:
Here you can find how to link your Coinbase Pro account with your ProfitBird account.