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Topic: Kraken DCA Bot - page 2. (Read 424 times)

newbie
Activity: 11
Merit: 28
February 19, 2023, 02:43:50 PM
#3
It's good that you made it open source, but why just Kraken? Does it work with different platforms? Or does it only work with that platform?

It only works for kraken. Doing that for other exchanges would be best achieved by writing another bot, as every exchange has different APIs to talk to.

Is the time interval an hour as a maximum, or can many hours be added to represent a week, or once a month?

One hour is not any time interval defined by me? I think there is a misunderstanding: You deposit, say, 500 dollars each month. The bot will notice that you did a deposit and reserves time for another month in which it will buy bitcoin until that time is over. It will always buy 0.0001 bitcoin (if you don't adapt this value). At the current price (24'700$) it could execute 204 times the 0.0001 bitcoin buy order. It will spread those buys equally over the next month, so that you run out of money until that month has ended. Since the price changes all the time, it will permanently adjust itself though, so that you don't run out of fiat too fast or too late. The highest prio is to have 0 fiat in your account by the end of that timespan (a month). And it will permanently adjust itself to the current bitcoin price after each executed buy order.

Say you deposit on the 15th of a month, it will use up all your fiat until the 15th of the next month!

Also, in the event of any technical error, is it possible to withdraw to an address that is not in the white list, or can you add any address to withdraw.

No, the bot cannot withdraw to random bitcoin addresses. You explicitly need to define those in your kraken account and give an alias to them. The bot itself will only know the alias, not the actual address. The bot has no idea where the bitcoins will be sent to.

Example, on kraken you will need to add your bitcoin withdrawal addresses combined with aliases that might look like this:

Alias: my-ledger
Address: bc1qiowrjovglnlsgfn

Alias: metamask-hotwallet
Address: bc1jhadashjdkjashd

Greetings!
legendary
Activity: 2688
Merit: 3983
February 18, 2023, 11:49:53 AM
#2
It's good that you made it open source, but why just Kraken? Does it work with different platforms? Or does it only work with that platform?
Is the time interval an hour as a maximum, or can many hours be added to represent a week, or once a month?
Also, in the event of any technical error, is it possible to withdraw to an address that is not in the white list, or can you add any address to withdraw.

I will give it a try if it works with OKX. Smiley
newbie
Activity: 11
Merit: 28
February 14, 2023, 03:05:29 AM
#1
Hello Community

I wanted to tell you about a DCA (Dollar Cost Averaging) bot that I coded, for the crypto exchange Kraken.

Features:
  • Buys 0.0001 BTC every couple seconds/minutes/hours.
  • Spreads all buys over the span of a month (when a new fiat deposit is expected, it should have used all fiat right before).
  • Buys hundreds/thousands/millions of times per month (depending on the amount of fiat you deposit).
  • Automatic adjustments after each buy (what is the price of bitcoin now, how many more buys can I do until the end of the month, when should the next buy take place?). If the bitcoin price drops by 50%, you will not run out of fiat earlier! You will just buy less frequently.
  • Automatic withdrawals to your hardware wallet! Either monthly or when reaching a certain bitcoin-stacking target on Kraken.
  • All open source and no compiled code. You can read it yourself.
  • Can be used with docker
  • Step by step video manuals included!

AND THE MOST IMPORTANT ONE:
The fees do not stack! Kraken has very low fees (0.26% without any trading-tier, for each transaction, which means the amount of transactions does not matter). Investing $500 each month will only cost you ~$1.30. A withdrawal to your hardware wallet will be as cheap as ~$0.07.

I use this bot myself since several months, probably close to a year.

Check it out here:
https://github.com/raphaellueckl/kraken-dca

And yes, I'm new to this forum. Smiley Read a lot here and there, but never took part in discussions.

Greetings
Codepleb
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