Follow these instructions to provide Grow with a read-only API key for your SMSF account.
Please note a read-only API key does not provide Grow with the ability to transact on your account.
Coinspot Website Instructions
Login to your Coinspot SMSF account (https://www.coinspot.com.au/login)
Access the API page via your profile icon (top right) https://www.coinspot.com.au/my/api
Click Generate New API Key and name it "Grow SMSF" and keep the API Key Type as "Read Only"
You will receive an email and will need to confirm the creation of the new API Key via the link in the email
Once confirmed, you will be able to access and copy both the API Key and Secret. Grow needs both of these.
Login to the Grow Portal and access the Integrations page under your profile (your image or initials on the top right).
Add the new API key and secret and save.
Grow will validate the API credentials and if required contact you if there are any issues.
How we use your Coinspot API key
Initially, the read-only API will be used to download transactional data on a daily basis including:
Deposits and withdrawals of fiat currency into your Coinspot cash account; and
Buy and Sell transactions of cryptocurrency.
These transactions will be obtained daily between 12am and 1pm and will collect any trades and transactions from the previous day. The transactions will be feed into our specialist SMSF accounting software, Class.
The Grow team will also have the ability to pull through historical transactions on the account where needed.
At this time, the the integration does not cover the transfer of crypto assets from Coinspot to external platforms or wallets. Transfers will still need to be manually reconciled by our team.
One shortcoming of the Coinspot API is that it doesn't enable us to obtain reports directly from Coinspot, meaning come end of financial year, you will still need to download and provide the Coinspot EOFY Statements.
Future Enhancements
Coinspot is one of our first integrations of this type (that is no entirely dependent on our third-party accounting software provider). We don't expect it to be perfect and that improvements will be required as we connect more Coinspot accounts via API.
We plan to add similar integrations with other cryptocurrency platforms based on popularity within the Grow SMSF customer base.
This means Digital Surge, Independent Reserve, Coinjar and Coinstash are likely to be added in the future.