coinbase-pro-order

Table of Contents generated with DocToc

• Overview
• Usage
  • Coinbase Advanced Trade API Authentication
  • Notification Configuration
• Developer Setup
  • Install Task
  • Create Virtual Environment
  • Install Requirements
  • Install Git Hooks
  • Run Application Locally
    • Create an Environment File
    • Run the Application
      • Run Deposit Function
      • Run Orders Function
• Testing
• Google Cloud Platform Integration and Deployment

Overview

Coinbase lacks the support for low-fee recurring purchases, which are supported by the base version of Coinbase. However, the base version of Coinbase lacks charges a flat fee for each transaction based on its value:

Total Transaction Amount	USD Fee
$10 or less	$0.99
More than $10 but less than or equal to $25	$1.49
More than $25 but less than or equal to $50	$1.99
More than $50 but less than or equal to $200	$2.99
More than $200	1.49% of the total transaction amount

This application allows users to configure recurring purchases leveraging Coinbase Advanced Trade API, which charges much lower fees.

coinbase-pro-order is a fully-managed and serverless application that allows you to configure recurring purchases through Coinbase Advanced Trade API.

Usage

This application is designed to be deployed to Google Cloud Platform.

To learn more about how to deploy this application, see the README in the terraform directory.

To learn more about how to run this application locally, see the README the Run Application Locally section.

In any way, the application requires the following services:

Coinbase Advanced Trade API Authentication

In order to authenticate against Coinbase you will need to create and remember these pieces of information:

• Key
• Secret

Anyone with access to these values will have access to your account, so handle these values wisely.

In order to create a Coinbase API key:

1. Go to https://www.coinbase.com/settings/api

2. Click "New API Key"

3. Add all the accounts that you plan on interacting with. This includes the "Cash (USD)" account, if you're buying with USD cash.

4. Add permissions to the API key:

   • For making orders
     • Cash (USD): this permission is required to query for account balances
     • wallet:accounts:read: this permission is required to query for account balances
     • wallet:buys:create: this permission is required to create new orders
     • wallet:orders:read: this permission is required to query for order status
     • wallet:transactions:read: this permission is required to query for transaction history
     • wallet:user:read: this permission is required to query for user information
   • For making deposits:
     • wallet:accounts:read: this permission is required to query for account balances
     • wallet:deposits:create: this permission is required to create new deposits
     • wallet:payment-methods:read: this permission is required to query for payment methods

5. Click "Create"

6. Make a note of the API key, and API secret. Store these values safely.

More information on Coinbase Advanced Trade API can be found here:

• Authentication https://docs.cloud.coinbase.com/advanced-trade-api/docs/rest-api-auth
• Permissions: https://docs.cloud.coinbase.com/advanced-trade-api/docs/rest-api-overview#advanced-trade-endpoints

:info: This project is in the process of migrating to the Coinbase Advanced Trade API Python SDK, available at https://github.com/coinbase/coinbase-advanced-py. The new SDK is not fully supported here yet. It also only supports the Cloud API Trading Keys, so at the moment you need two different sets of keys.

To obtain the Cloud API Trading Keys:

1. Log into Coinbase Developer Platform (CDP).
2. Navigate to Access → API keys.
3. Follow the instructions to create a key, with "View", "Trade", and "Transfer" permissions. TODO: create two different keys, one for trading and one for depositing.
4. Make a note of the API key name, and Private key secret. Store these values safely.

Notification Configuration

This system supports notifications via Telegram. In order to configure notifications, you will need to create a Telegram bot and retrieve your chat ID.

1. Start a chat with @BotFather and type /newbot
2. Reply to BotFather with a name for your bot
3. Choose a username for the bot. It must be unique and end with bot
4. Save the HTTP API key associated with the bot
5. Start a chat with @myidbot and retrieve your chat ID number by submitting the /start and then the /getid commands
6. Start a conversation with the bot created in step #3, and type /start

Developer Setup

Install Task

Install the most recent version of task:

brew install go-task/tap/go-task

Create Virtual Environment

Create a virtual environment with a supported Python version:

pyenv install 3.12.0
pyenv virtualenv 3.12.0 coinbase-pro-order-3.12.0
pyenv activate coinbase-pro-order-3.12.0

Install Requirements

Install the development requirements:

pip install -r requirements-dev.txt

Install Git Hooks

See .pre-commit-config.yaml for information on which hooks are configured.

pre-commit install
pre-commit install -t pre-push

Run Application Locally

⚠️ This can create real orders on Coinbase if the base url is not overridden. Use with caution.

Create an Environment File

Create a .env file in the project root, and override the following variables.

Variable	Type	Description
COINBASE_TRADING_API_KEY	Required	The Coinbase Advanced Trade API key name
COINBASE_TRADING_PRIVATE_KEY	Required	The Coinbase Advanced Trade API private key
TELEGRAM_BOT_TOKEN	Required	The Telegram bot token of the bot created earlier
TELEGRAM_CHAT_ID	Required	The Telegram chat ID for the destination user
COINBASE_API_BASE_URL	Optional	The Coinbase API base URL (defaults to https://api.coinbase.com)
LOGGING_LEVEL	Optional	The logging level (defaults to INFO)

The .env file will be automatically loaded.

Run the Application

With the functions-framework installed, you can run the application locally by setting up a listener for the function you want to execute.

There are two ways of running the application locally:

1. Run the application locally using the functions-framework CLI

task run-orders-function

task run-deposit-function

task run-mockoon

1. Run the application locally using docker-compose:

docker compose up --build

Run Deposit Function

To execute a coinbase deposit locally, create a test_event.json file with deposit request. Example:

{
    "amount": 10.0,
    "currency": "USD"
}

With the listener running, you can send a test event to the function and have it read the contents of that file:

curl -L 'http://localhost:8081' \
-H 'Content-Type: application/json' \
-H 'ce-id: 123451234512345' \
-H 'ce-specversion: 1.0' \
-H 'ce-time: 2020-01-02T12:34:56.789Z' \
-H 'ce-type: google.cloud.pubsub.topic.v1.messagePublished' \
-H 'ce-source: //pubsub.googleapis.com/projects/MY-PROJECT/topics/MY-TOPIC' \
-d '{
    "message": {
        "data": "'"$(jq -c . < test_event.json | base64)"'"
    },
    "subscription": "projects/MY-PROJECT/subscriptions/MY-SUB"
}'

Run Orders Function

To execute a coinbase order locally, create a test_event.json file with the array of orders. Example:

[
    {
        "product_id": "BTC-USD",
        "price": 10.0
    }
]

With the listener running, you can send a test event to the function and have it read the contents of that file:

curl -L 'http://localhost:8082' \
-H 'Content-Type: application/json' \
-H 'ce-id: 123451234512345' \
-H 'ce-specversion: 1.0' \
-H 'ce-time: 2020-01-02T12:34:56.789Z' \
-H 'ce-type: google.cloud.pubsub.topic.v1.messagePublished' \
-H 'ce-source: //pubsub.googleapis.com/projects/MY-PROJECT/topics/MY-TOPIC' \
-d '{
    "message": {
        "data": "'"$(jq -c . < test_event.json | base64)"'"
    },
    "subscription": "projects/MY-PROJECT/subscriptions/MY-SUB"
}'

Testing

Run the unit tests and the coverage tests:

task python:test
task python:test-coverage

Google Cloud Platform Integration and Deployment

The infrastructure and deployment of this project is handled by Terraform. View the Terraform README for instructions on how to deploy this cloud function to the Google Cloud Platform.