FAQAPIHow to Use Hummingbot

How to Use Hummingbot

Published date: September 22, 2021 at 11:45 (UTC+0)

Contents:

Hummingbot is an open-source software that enables anyone to automate market making services via computer software across any of the 1,000+ markets available on ProBit Global, making it easier than ever to maximize your gains from the various spreads across the market.

By using Hummingbot, users can use a cross market maker option by placing a buy order on one exchange while simultaneously placing a sell order at a higher price on a different exchange to effectively set up an automated arbitrage system across multiple exchanges.

How to Use Hummingbot

Step 1: Sign up on ProBit Global and Create API

*New users will need to create an account on ProBit Global.

  1. Log in, click My Page, then click API Management

  1. Name your API key and click on Create new key.

  1. You will be prompted to complete Email Verification  to proceed with creating your API keys.

  1. Save your Client ID and Secret Key, ensure that the Trading box is checked and that the Withdrawal allowed option is unchecked.

*Be sure to save your secret key in a safe place as it will only be shown once.


Step 2: Download Hummingbot

https://hummingbot.io/download/

Step 3. Connect ProBit Global API on Hummingbot

  1. Input a desired password and press enter twice when done. You will need to retype your password again to confirm afterwards.

  1. Once your password is confirmed you will see the main screen.

  1. Type connect probit and click enter to proceed.

  1. You will need to enter your ProBit Global client key (API) and secret key that you stored safely. Once you are done, you can type connect to check the status of all your API connections.

Step 4: Creating a bot

  1. Type create, then enter one of the following market making strategies:
  • Pure Market Making
  • Cross Exchange Market Making
  • Binance Perpetual Market Making
  • Arbitrage
  • Celo Arbitrage
  • AMM Arbitrage
  • Liquidity Mining Strategy (BETA)
  1. Once you are done configuring the parameters and saving the configuration file, simply press start to activate the bot.


For more details on strategies, refer here: https://docs.hummingbot.io/strategies/overview

*Tip: Try paper trading mode to simulate a trading bot and strategy.

★ Disclaimer: ProBit Global does not endorse nor will be held liable for the usage of the platform and any resulting financial losses, if any. Do your own research on the security features of Hummingbot and their reputation as a company before proceeding. Hummingbot  is not owned, or a subsidiary of ProBit Global. Both companies are in no way related.

The above should not constitute financial advice.

Return to list