If you’re dipping your toes into cryptocurrency trading, you’ve likely encountered the concept of trading bots. Let me introduce you to one that’s making waves in the crypto world: 3Commas.
In this 3Commas review, we’ll be looking at how the platform works, the pricing, and everything in between so you can decide whether this crypto trading platform is the best for you.
What is 3Commas?
It’s a comprehensive cryptocurrency trading platform that allows you to utilize automated trading bots and enables you to follow the moves of successful traders and craft your top portfolios.
Moreover, you can delve into smart trading and tailor your strategies, setting up stop-loss and take-profit commands.
3Commas Overview
3Commas operates through a user-friendly web-based platform with various tools and detailed analytics. Choose from short, simple, composite, and composite short bots; set your stop-loss and take-profit targets; and customize your strategies.
Automated trading with 3Commas occurs via API integration with cryptocurrency exchanges, working round-the-clock on any device. Access your trading dashboard on both desktop and laptop computers, or use the mobile apps developed for Android and iOS.
The range of tools is impressive – besides the automated bots and performance analytics, you can create, analyze, and back-test crypto portfolios, monitor the best-performing portfolios of others, and even engage in social trading, following and copying successful traders.
Exchange integration? 3Commas has it covered, providing automatic trading bots for 12 exchanges, including Bittrex, Bitfinex, Binance, Bitstamp, KuCoin, Poloniex, HitBTC, Cex, GDAX (Coinbase Pro), OKEx, Huobi, and Yobit.
As for customer support, it’s available 24/7 in English and Russian. You can contact the team through the Help Centre, Twitter, Telegram group, and Facebook. There’s also an FAQ page and a set of helpful guides.
How Does 3Commas Work?
Wondering how 3Commas works? Let me guide you through the process, from sign-up to investment.
Signing Up: You can easily start with an email and a password. Or, if you prefer, use your Apple or Facebook IDs. It’s as simple as that.
Setting Up: Once you’re in, it’s time to give your account a personal touch and set up your first trading bot. A little insider tip: a button in the top-right corner lets you skip the setup tour. However, this is like your tour guide, so I’d recommend following the setup tutorials.
Choosing a Profitable Trading Strategy: You’ve got your heart set on a specific trading strategy. Awesome. Now it’s decision time. Do you want to trade or learn? You can dive into the educational resources or take the plunge at this juncture!
Linking to Your Exchange: Connect your account to your preferred cryptocurrency exchange. They offer 18 popular cryptocurrency markets, including heavyweights like Binance.us, FTX.us, Coinbase, and KuCoin.
Here comes a sprinkle of tech magic. You must input secret codes – your API settings when linking to an exchange. These codes, like API Secret, API Key, and Passphrase, act like secret handshakes that unlock your trading capabilities.
Building Your Bot: Now for the exciting part – building your bot. Go wild and customize your own, or select one of the preset bots that align with your chosen strategy.
Once your bot’s blueprint is ready, whether it’s your masterpiece or a savvy preset, hit the “Create Bot” button. It’s like igniting the rocket on your crypto journey. Your bot comes alive, trading according to the rules you’ve established.
Tracking and Monitoring: All your accounts and trading actions are neatly consolidated in the “My Portfolio” tab. It’s like the control center of your crypto universe.
Here, you’ll get a crisp snapshot of the state of your investments. You’ll also see real-time updates on profits, losses and an analysis of where your assets are located.
3Commas Pricing and Cost
3Commas pricing has packages to fit every need. The Starter package at $29/month offers a Smart Trading terminal, no trading limits, and error and cancellation notifications.
The Advanced package at $49/month includes the Starter benefits, simple bots, and personal signals from TradingView. The $99/month Pro package includes everything in Advanced, composite, and Bitmex bots and full portfolio management.
Pros of 3Commas
- Automated trading strategies
- Diverse exchanges
- Smart trading bots
- Portfolio management
- The ability to set stop-loss orders
Cons of 3Commas
- Subscription costs can be a bit pricey
- Steep learning curve
Conclusion
Many trading bots can be challenging for new traders or don’t perform as expected. 3Commas addresses these issues by offering a trading bot that’s easy to set up and use, performing reliably compared to many competitors.
With its user-friendly interface, automated trading bots, and supportive community, 3Commas makes it easier for beginners and advanced crypto traders to navigate the intricate world of digital assets confidently.
Crypto Fund Trader, Elite Signals, and LiteFinance are other options, but 3Commas surely stands out with its comprehensive offerings.
Want to see for yourself? Click here to explore 3Commas today.