Kraken is one of the most popular cryptocurrency exchanges, known for its security and ease of use. If you want to use Kraken's API to automate your trading, access account information programmatically, or integrate Kraken with other applications, you will need to generate and add an API key.

Let’s walk you through the process of adding an API key to Kraken.

What is an API Key?

An API key is a unique code that allows your application or bot to interact with the Kraken platform without needing to log in manually. It acts like a password for your application to access your Kraken account securely and perform tasks like making trades, checking balances, or retrieving data.

You can create multiple API keys with different permissions depending on what access you need.

For example, you might create a key with permission only to view account balances or a key that can execute trades.

Step 1: Log In to Your Kraken Account

Open Kraken's Website: Go to Kraken's website.
Log In: Enter your username and password to access your account.

Step 2: Go to the API Management Page

Click on Your Profile: Once you're logged in, find your profile icon in the top-right corner of the screen.
Go to Settings: Click on "Settings" from the drop-down menu.
Select the API Tab: In the settings page, you'll see several tabs on the left. Click on the "API" tab to manage your API keys.

Step 3: Create a New API Key

Click "Add Key": On the API management page, you will see a button labelled "Add Key." Click this to create a new API key.
Create the API Key: Click the button to Create Key. Kraken will generate a new API key for you.

Step 4: Save Your API Key and Secret

After you create the API key, Kraken will provide you with:

API Key: This is the public key that identifies your API requests.
API Secret: This is a private key that should never be shared with anyone. It’s used to authenticate your requests.

Make sure to copy and save both the API Key and API Secret in a safe location. If you lose them, you cannot retrieve them, and you would have to create a new API key.

How to Add Kraken API to Koinly?

Now, you will need to link the API to Koinly.

1- Log in to Koinly

Visit Koinly and log in to your account.

2- Go to Add a Wallet

Click on "Add New Wallet".

Search for Kraken in the search bar or select it from the list of exchanges.

3- Enter API Key and Secret

Koinly will prompt you to enter your API Key and API Secret that you copied from Kraken.

Paste them into the appropriate fields.

Click "Add Wallet" or "Import".

4- Synchronise Your Data

Koinly will automatically pull your transaction data from Kraken, including deposits, withdrawals, and trades.

This may take a few minutes depending on how much data needs to be imported.

Final Thoughts by Crypto Accountants!

Adding an API key to Kraken is a simple and secure way to interact with your Kraken account programmatically. Whether you want to automate your trading, pull data, or integrate Kraken with other platforms, setting up the API key is the first step.

Always ensure your API key is kept secure and only grant the permissions necessary for your tasks.

Happy trading!

If you want more information regarding cryptocurrency tax, compliance, and due diligence, reach out to the Crypto Accountants.

How Do I Add API Key to Kraken?