Hummingbot Setup
You can take advantage of IDEX's lightning speed by setting up a trading bot. In this guide we'll show you how to run Hummingbot on IDEX.
Last updated
Was this helpful?
You can take advantage of IDEX's lightning speed by setting up a trading bot. In this guide we'll show you how to run Hummingbot on IDEX.
Last updated
Was this helpful?
Hummingbot is an open source software that helps you build market making and arbitrage bots.
We strongly recommend checking out Hummingbot's documentation here:
In this guide we'll show you how to install Hummingbot on a virtual machine (for optimum up-time, reliability). You can also do this on your own computer (or server) with Ubuntu 16.04 or later.
Hummingbot is a powerful, professional trading tool. If used incorrectly it could lead to financial losses. Please make sure to read Hummingbot's documentation thoroughly and understand the limits of your own trading strategies before committing funds to use this software on IDEX. IDEX is not responsible for any losses incurred when running this software.
We'll begin by creating an account at Digital Ocean by clicking on [Sign Up] at the top-right corner of the website. Digital Ocean is a paid service so there will be monthly costs involved.
Now we'll configure the specifications of the virtual machine we'll be using to run Hummingbot. We recommend using Ubuntu 20.04 LTS, a Basic plan, 1 CPU and 2GB of ram for installing Hummingbot.
You may downgrade your virtual machine to $5/mo AFTER successfully installing Hummingbot as the extra CPU power is only required for the initial installation. Here's how to do so: https://docs.digitalocean.com/products/droplets/resources/downsize/
Click on [Create Droplet] to launch your virtual machine.
Once your virtual machine has been created, you can click on its menu (or the 3 dots on the top-right side) then select "Access Console" to open a terminal to your virtual machine.
A new window will open. It will be connected to your virtual machine. We will now add a new user by typing the following command:
You'll be asked to type in your full name, room number, work phone etc. These details aren't necessary so you can hit Enter to leave them blank if you wish.
Now we'll add the newly created account to our sudo group by typing in the following:
You can close this window now.
With the basic setup out of the way, we can begin installing Hummingbot in your virtual machine. To accomplish this, you'll connect to it from your computer. We will use the "Command Prompt" (Windows) or "Terminal" (macOS).
On macOS: you can use "cmd⌘ + spacebar" to open spotlight then enter "terminal"
On Windows: you can use the Search for "Command Prompt". Alternatively "Windows Key + R" to open Run then enter "cmd".
A new window will open now, looks like this:
Once you're on windows command prompt, you must enable copy pasting by right clicking the title bar and selecting Properties as shown above.
Tick the option "Use Ctrl+shift C/V as copy paste" as shown above then click [OK].
Before we continue its also important that you write down your virtual machine's IP address:
Now we'll connect to the virtual machine we created at Digital Ocean via SSH by running:
You must use the username you created earlier and the IP address we just saved..
You'll be asked if you want to "continue connecting". Type the word "yes" and hit Enter.
Once you're connected to your virtual machine then you should see your its username and host name on the terminal (as shown above).
Now we can begin installing Hummingbot by cloning the IDEX-Hummingbot repository from github by running:
Next, we will open the Hummingbot directory using the cd command:
Now we must switch to the "Silverton" branch to use with IDEXv3 (Polygon) by running:
Once you've successfully switched to the Silverton branch then you should see "Switched to a new branch idex/devAktech-v3-silverton" as shown here:
Now you can update your dependencies by running the following commands:
Next, we type the following command:
Then we must install "miniconda3" by running:
Now the following command:
You will be asked to accept the license terms for miniconda3. Be sure to answer "yes" on all options.
You will be asked for an install location, just press the enter key to install miniconda on the default location.
Once the installer is finished, you'll be asked to initialize Miniconda3. Type "Yes" and hit enter to continue
Once we have finished installing miniconda3 then we can update .bashrc to register conda by running:
Now we'll install the Hummingbot modules with:
Activate environment and compile code with:
Once it's done compiling then we can start Hummingbot by running:
You've finished installing Hummingbot on your virtual machine.
Make sure to accept the terms and conditions of Hummingbot and don't close the command prompt window.
First we'll need an API key from IDEX. You can sign up for API keys under the "?" icon on the top right of our website (https://exchange.idex.io/) then to "API keys" and create a new account or Login with your existing details.
Once you're logged in to your API account then you will be able to generate your API key by pressing the "Generate new API key" button.
Once your API key is created then check the "Read" and "Trade" options to allow trading with your API key via Hummingbot. Click [Save] and copy the API key and Secret as you'll need them shortly.
Now back to Hummingbot you can connect to the IDEX by running:
Now you'll be asked to copy your IDEX API key, API secret and your wallet private key.
Neither IDEX or Hummingbot have access to your private information.
Congratulations! You've successfully set up Hummingbot to run on IDEX. From this point forward, you need to configure the trading strategy your bot will run on your behalf. In the next steps we'll provide you with a couple of examples.
We strongly suggest you read Hummingbot's official documentation on Basic Operations
Hummingbot is a powerful, professional trading tool. if used incorrectly it could lead to financial losses. Please make sure to read Hummingbot's documentation thoroughly and understand the limits of your own trading strategies before committing funds to use this software on IDEX. IDEX is not responsible for any losses incurred when running this software.
