paypal settings

Hi i’m triyng to set my paypal account and woocommerce and have a few questions.

1)

i understand i have to turn on the auto return to page oon, add a return page and then turn on the “payment data transfer” option in the paypal account to coppy a Token to the woocomerce. so is there a thank you page set by woocommerce that i should redirect te user to it? or should i creat that page? is it important to do this (redirect user to page?) i dont realy understand whats the Token thing do you recommend to add it?

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2) can anybody explain me whats the API thing for an how to set it? when i entered to the woocomerce settings there’s something already written there but i did not enter that info and not sure is the correct one.