I use Coinbase API to generate Bitcoin addresses.
What are the limits of this API?
How many Bitcoin addresses can I generate?
The API says that:
The Coinbase API is rate limited to prevent abuse that would degrade our ability to maintain consistent API performance for all users. By default, each API key or app is rate limited at 10,000 requests per hour. If your requests are being rate limited, HTTP response code 429 will be returned with an rate_limit_exceeded error.
So I would reason to assume you can generate 10,000 BTC addresses per hour. Of course there might be somewhere else it has been mentioned.
API docs say it is unlimited for each account.
Address resource represents a bitcoin, bitcoin cash, litecoin or ethereum address for an account. Account can have unlimited amount of addresses and they should be used only once.
This text is taken from the official api docs (link down below) on date 04-02-2020
https://developers.coinbase.com/api/v2#addresses
Related
is there chance that Coinbase or any wallet can be used as a proxy wallet i.e a smaller exchange stores its retail clients assets on Coinbase custody but when withdrawals are made by a retail client it is processed by an api and sent from custody directly to the clients wallet
can this be achieved?
Complex, but anything is possible. You can program a login system, and depending on who logs in, a different function in the code is executed, and the books of each client's amounts would also have to be kept and integrated into the code, and the client must not have access to alter the core coding. Maybe use python?
You can already use Coinbase's API to make withdrawals to a wallet. Withdrawals via API exist for most exchanges.
https://developers.coinbase.com/api/v2#withdrawals
https://docs.pro.coinbase.com/?python#list-withdrawals
My naive understanding behind how currency trading works on Exchanges like Binance and Coinbase is each users are provided with unique address and when the respective currencies trade happens on exchanges like Binance or Coinbase, both the parties accounts get's updated live on blockchain.
To elaborate more, In case of ETH/BTC trading, let's say, Mr Foo wants to trade his ETH with Mr Bar's BTC on Binance exchange. Binance will provide both of them with unique address respectively to their currency. So when the ETH/BTC trade take place, Mr Foo will receive the BTC on his newly generated unique BTC address and Mr Foo's ETH account will be deducted . On the other side, Mr Bar's BTC account will be deducted and Ether account is updated with newly received ether.
I'm really confuse regarding whether these currency trading on exchanges execute live on Blockchain? Recently during Bitcoin and Ethereum network congestion, I did BTC/ETH trading on HITBTC, the process happened instantaneously, but I've to wait for hours during withdrawal process. Also Hitbtc seems to be using same Ethereum account (0x65e2c5175e2e618f48e70343b14c31b280e42d90) to transfer fund during withdraw request for multiple users. It seems that these exchanges are using the same address for serving multiple users.
Could somebody explain how users accounts are updated during currency trading on exchanges like Coinbase and Binance? Does trading immediately happens live on blockchain? Or Exchanges only shows the users with fake trading balances until it's withdrawn? Do the Exchanges use same address to accept deposits from multiple users?
Thank you for your time.
Check out this thread for a brief explanation of Coinbase's order management.
Answer on the reddit thread, supposedly from a coinbase insider.
In addition, my comment above was just based on intuition and my general knowledge of the way brokers work.
Brokers
Brokers tend to match orders first since they are in the business of exchanging, not investing. Meaning they make their most consistent revenue from fees generated by facilitating customer orders, not by investing in the securities or assets that they help to buy/sell.
Sometimes in order to fulfill an order the broker will go long or short a particular asset class, in this case bitcoin or ethereum, etc. If this happens the broker is exposed to fluctuations in the price of that asset against the asset they are trying to grow (cash).
Now, since Coinbase is heavily involved in crypto it might be part of their strategy to hold Bitcoin or Ethereum inventory, but I would doubt it would figure much since that would undermine public trust in their institution as an impartial exchange. No one really likes to hear their broker bet against them, it tends to engender resentment.
Technicals
Coinbase is setup as a software wallet, meaning you have an account, with the private keys stored on their server. So it is possible for them to facilitate some of the trading between bitcoin accounts without ever having to match orders with an account holder outside their system.
Meaning, they can collect/match/fill the orders in batches and then submit those batches to bitcoin miners. This would allow them to quickly "fulfill" your order, and then send you verification once it has been posted to the blockchain.
Further Reading
Although it is not specifically geared towards crypto exchanges there is an excellent book on the subject of how markets actually function.
Market Microstructure in Practice
Version 3 of the YouTube Data API has concrete quota numbers listed in the Google API Console where you register for your API Key. You can use 30,000 units/second/user and 1,000,000 per day. Projects that had enabled the YouTube Data API before April 20, 2016, have a default quota of 50M/day.
This means that once we breach this numbers, we'll receive in the header that the rate limits have been exceeded.
My question is, can you create multiple accounts, which will in theory DOUBLE the quota?
Or is it also IP restricted too meaning /user1/ & /user2/ requests won't actually change the quota?
It is my understanding that the quota is PER PROJECT, not per account. You could create 3 projects and each project would have the default quota. Then in your application you could attempt to use all 3 combined in order to post to the API with a higher throughput.
I saw in some articles that the sending limit for gmail is:
*500 per day if we send by website
*100 per day if we send by pop/imap application
My questions are:
1.- The "100 per day" limit its also for an vb net apps that we can make?
2.- How many mails can be send using gmail API (or how many recipients)?
3.- How can I extend the limit with a FREE account?
Regards.
Based on the Usage Limits page of the Gmail API documentation, we have about 1,000,000,000 quota units per day for Daily Usage and 250 units/user/second rate limit.
All method transactions have allocated quota units, if we're specifically looking at the send method (either from drafts/messages), it will cost us 100 units.
Our company's system sends hundreds of small payments ($5 to $100 usually) per week to people via the API's offered by paypal and dwolla. Does google wallet's API offer an equivalent capability?
Looks like it's not supported in the API Reference :(
https://developers.google.com/wallet/objects/reference/v1/
Although there is no equivalent API, you may consider the Google Wallet Send Money feature:
http://www.google.com/wallet/send-money/
More info about features and restrictions here:
http://www.google.com/wallet/faq.html#tab=faq-send