This tool provides a way to accomplish the following tasks programatically:
- Deposit a programatically-determined amount of fiat for a given period into Coinbase Pro
- Place user-defined purchase (market) orders
- Withdraw cyrptocurrencies into external wallets once their values exceed a user-defined amount
- python3
- cbpro
- gotify-handler (optional - required only if you'd like to log to gotify)
python3 coinbase_pro_dca.py --action {deposit, invest, withdraw}
For more information on these arguments, see the below "Arguments" section.
I intend to use this program in the following way - maybe you will as well. The following read as crontab entries.
At the first of each month, I'll invest the sum of all orders I wish to place in the span of a month (as defined in the config file - deposit->purchases_per_period).
0 0 1 * * python3 coinbase_pro_dca.py --deposit
Note that if you're going to programatically invest each month (or another span of time with an indeterminate amount of time), you should be sure to "lie" about the purchases_per_period value. In my config, I set it to 31, since I'll deposit every month, and some months have 31 days.
Every day, I'll invest as per the orders section.
0 0 * * * python3 coinbase_pro_dca.py --invest
Note that whichever action you take (deposit, invest, or withdraw), each action will trigger a withdraw action at the end of execution. This might be changed in the future if it's found to be a nuisance.
| Name | Type | Description |
|---|---|---|
--action |
str |
Action to take for execution - deposit, invest, or withdraw |
--config |
str |
The path to a configuration file. If absent, ./config.json is used |
--sandbox |
bool |
If set, utilize the Coinbase Pro Sandbox, for testing purposes |
See config.json.example for an example configuration.
You can also invoke python3 config_wizard.py for a guided process to create a configuration file.
deposit->payment_method_id is the id of a payment method from Coinbase Pro. I can't find this value in the Web UI, but it can be retrieved through this API endpoint in Coinbase Pro. At some point I'll add a wizard to make the initial config generation less painful.
deposit->purchases_per_period defines the number of purchases that you intend to make per deposit period. For example - for investing each day for a month with a deposit each month, the value should be set to 31. This value is multiplied by the sum of all orders to determine how much money to deposit from the selected payment method when the deposit action is used.
orders contains a list of order objects, which contain a trading pair and the amount to purchase in a market order, in USD.
eg. with the example config, the program will purchase $100 USD of BTC and $100 of ETH when the invest action is taken.
external_wallets specifies a few notes for the withdraw action.
Each key is a valid cryptocurrency ticker, as defined by coinbase (BTC, ETH, etc.).
max_value_before_move is the lowest amount of USD value the cryptocurrency's account that should trigger it to be withdrawn to an external wallet.
destination_wallet contains a valid wallet address for the given cryptocurrency.
coinbase_pro contains all attributes required for your API key.
If you wish to use the deposit and/or withdraw actions, it will need the transfer scope.
If you wish to use the invest action, it'll need the trade scope.
If you have the transfer scope enabled, you should enable address whitelisting.
Address whitelisting can be enabled here.
If you do not, if your API credentials were to be compromised, an attacker could withdraw your funds to cryptocurrency wallets that you do not control.
Additionally, if possible, you should enable the IP Whitelist section when creating an API key.
coinbase_pro_sandbox contains the same parameters as coinbase_pro, but for a coinbase pro sandbox account. This section is utilized when the --sandbox argument is passed to coinbase_pro_dca.py.
logging specifies the logging level, and optionally, a configuration to log to a gotify server, utilizing gotify-handler.
minimum_nag_value contains the lowest account balance for which the user should be nagged for not having configured an external wallet. By default, it's set to $100 USD.