Is 3commas a good cryptocurrency trading bot?
Is 3Commas any good? 3Commas Review 2023: An Excellent Trading Bot Platform.3Commas is one of the highly preferred crypto services among the community of crypto traders. The platform offers users multiple advanced trading features such as smart trading tools and automated trading bots by utilizing which they can enhance their profits and minimize the risks significantly.To take advantage of 3Commas, the traders must create a 3Commas account on the platform to connect to an online exchange using the API integration feature.
Some more features offered by the3Commas trading botare manual trading via smart trading tools, multiple sell targets, smart cover, crypto signals and charts from trading view, short and long algorithm, automated bots, paper trading, trading strategies, and an intuitive dashboard to track multiple exchanges. Some benefits of using the 3Commas trading site are mentioned below.
The users can track their trading portfolios by using various tools offered by the platform. They can either create a new portfolio or link their old ones. On the intuitive user interface, they can monitor their progress and thoroughly analyze successful traders’ portfolios.
The traders can use the trading terminal of 3Commas, known as “Smart Trade,” to manage numerous investments across different exchanges simultaneously. Moreover, they can also place unconventional orders not offered by those exchanges. The traders can use the “Stop Loss and Trailing Stop” feature to minimize their losses and “Take Profit, Trailing Take Profit, and multiple Take Profit Targets to enhance the profits.
Users can use the grid bots to buy and sell a crypto asset at pre-fixed levels. They have to set the minimum and maximum limits, and the grid bot will do the rest of the work.
3Commas help the users to increase their investment portfolio by using the DCA bots. Using the strategic DCA bots, the users won’t have to face a trading crisis if the price of an asset goes down!
The options bots feature of the platform allows the users to initiate trades on the Deribit platform using its strategic algorithm. Options may be challenging for them, but using the simple bots makes it easy to take a profit and stop losses.
Before starting with 3Commas, the users must create a 3Commas account on the platform and activate the two-factor authentication system to secure their trading account. There are multiple ways of registering on the forum, one is manually by using the email id, and the other is by Facebook.
3Commas Pros and Cons
| Pros | Cons |
| Supports over 17 leading cryptocurrency exchanges. | Costly for novice traders. |
| Affordable plans. | Overwhelming for new users and beginners. |
| Serves crypto enthusiasts from all over the world. | The platform does not offer a desktop application. |
| A plethora of features to upgrade manual and automated trading, like paper trading, automated trading, margin trading, and social trading. | |
| Smooth and straightforward KYC process. | |
| A trading academy for beginners. | |
| A great platform. | |
| Mobile apps for all the features. |
Features of 3Commas
Smart Trade
The smart trading feature is an original offering of 3Commas that allows users to trade on multiple crypto exchanges at once. The traders can buy and sell simultaneously using the smart trade feature. The platform has combined the smart trade feature with the trading view, which significantly upgrades the trading experience.
The smart trade feature provides users with the ability of manually trading. Some of the main benefits of manual trading via smart trade function are concurrent profit and stop loss action, take profit and stop loss trailing feature, ability to sell by multiple targets, smart cover, charts, and signal provided by TradingView. The smart trade function lets users fix their initial trade amount of a particular trade by using the smooth trading dashboard.
Dynamic Trading Terminal
The dynamic trading terminal feature at 3Commas allows users to manage numerous exchange accounts simultaneously. The users can use the smooth interface of 3Commas to manage the exchange accounts and delimitate their potential for trading crypto by taking advantage of all the advanced tools available on the platform.
With the dynamic terminal of 3Commas, crypto enthusiasts do not have to worry about exchange limitations. They can place numerous orders with customized take profit and stop loss settings on very high liquidity without revealing their identity. Some main benefits of this feature are conditional market order, conditional limit order, native orders, and creating order groups (OCO).
DCA Bots
DCA stands for Dollar Cost Averaging, a trading strategy related to making investments into a currency at prefixed gaps to lower the entry price of a market position over a fixed period and negate the risk of volatility. There are two types of DCA bots offered by the 3Commas, a DCA long bot and a DCA short bot. The former DCA bot helps traders calculate the average price and the latter assists in analyzing base crypto.
For example, a user has $5000 for trading and invests $1000 monthly. If he gets the initial trade price of $100 and then the subsequent ones as $90, $70, $80, and $95, he would have to pay $100 in the starting, which costs him 20% extra.
However, by using the DCA bots, users can minimize this cost as the bots place every trade at a fixed monthly time by themselves. Using the dollar cost averaging bots is very easy; the users need to choose a bot, connect it with an exchange, finish the configuration, and start viewing the stats.
Grid Bot
Grid bots are a type of automated trading bots that help users in taking profits automatically. They must select a coin and investment amount and leave the rest to the grid bots. The crypto trading bots automatically buy the crypto preferred by the trader when its price drops and sell it when the price rises. Setting up a grid bot is a very simple task, as the intuitive user interface of the 3Commas crypto platform helps the users launch the crypto bot quickly.
The process of launching the grid bot is as follows. The traders must select low-value coins and the amount they want to invest. Now, set the boundaries for the grid bot to buy and sell to the target profit. Finally, they can customize their own research and trading strategies for the best efficiency! To use the grid bots, they must first register on the platform. Then, select their preferred exchange, choose the bot mode (Manual/AI), and launch it.
TradingView
One of the best trading features offered by the 3Commas platform is the TradingView function. It is the best method of getting accurate trading signals a crypto asset. TradingView is the most trusted technical analysis system in digital trading.
The system offers extensive trade analysis functions like 100+ indicators to analyze the price fluctuations of an asset and trading strategies most compatible to make it profitable. 3Commas also enables veteran traders to create customized signals.
The TradingView feature is simple to use, as all the users need to do is connect their bot to a TradingView indicator. After connecting with the indicator, the bot will receive alerts automatically and, on its basis, open the trades accordingly. A cryptocurrency trading bot takes just a few minutes to be configured.
Options Trading Bot
Options are one of the most complex types of financial assets to handle; however, all its complexity is worth it as the profitability potential of options is highest amongst all types of tradable assets. To simplify the process of options trading and significantly negate the risk factor, 3Commas has launched the feature of an options bot for users.
Option bots are trading bots that simplify the process of options trading by using advanced AI algorithms to analyze the market factor and act accordingly. Some of the main benefits of using option bots are the instinctive calculation of price based on active market conditions, easy tracking of profit and loss, the ability to decipher the success chances of a strategy, and a user-friendly interface.
Crypto-Signal
When a trader initiates their first few purchases, one of the easiest methods for them to open successful trades is by following the trading signals of experienced traders. At 3Commas, the users can easily do this using the Signal Marketplace feature. They need to connect their exchange account, search for their signal provider, and set up a new signal bot. Once done, they can relax as the cryptocurrency trading bot handles the further process.
Whenever a signal originates from the end of the signal provider, the bot will spring into action, and as per the time established by the signal provider, it will execute a new trade asap. The process of using it is very easy. The users need to connect their cryptocurrency exchange account with the platform, choose a signal from the market and subscribe, and create a bot to launch it.
Exchanges
Another one of the most important features of the 3Commas automated trading platform is the availability of 17 exchanges on the site. The users can select their preferred exchange and start their cryptocurrency trading journey with the help of investment advice given by the trading site. All the supported exchanges by 3Commas are as follows:
Binance
OKX
KuCoin
Coinbase Pro (GDAX)
Binance TR
Binance US
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Bitfinex
Bitstamp
Bittrex
Bybit
Crypto.com
Deribit
Gate.io
Gemini
Huobi
Kraken
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HODL Trading Bot
Here is another type of 3Commas trading bot for the users that help them in handling the technicalities of crypto trading. With the help of this awesome trading bot, they can build their portfolios at a very low cost of acquisition. With the HODL bots, they can negate any hassle they face during the implementation of their strategy.
HODL bot follows a traditional DCA strategy but offers the users a more flexible approach. Using the 3Commas HODL bot, the users can specify the asset they want and how many times they want to buy it. It means the bot will buy every time the price drops or goes high, ultimately conquering the variation one may have in the performance of their portfolio.
FAQs
Is 3Commas any good? ›
3Commas is one of the top platforms offering this type of service, utilized by over 220,000 traders worldwide with an overwhelming number of positive reviews from satisfied users.
Does 3Commas work with crypto com? ›In 2022, 3Commas offers the best trading bot for Crypto.com with multiple benefits such as great functionality, innovative technology, superior customer support, an extensive range of tools, and simple exchange integration. Crypto.com is a great exchange for users of varying abilities.
Is 3Commas bot safe? ›Is 3Commas safe to use? Your funds are secure because they can't leave your exchange. 3Commas connects to your exchanges via three methods: Fast Connect, Sign Center, or encrypted API. Our system tells your exchange to start and close deals, but has zero access to withdraw or transfer fiat or crypto currencies.
Are crypto trading bots profitable? ›Q #2) Are cryptocurrency trading bots profitable? Answer: Trading bots are profitable for as long as you can configure them properly. The best crypto trading bots will obviously make a profit and it is essential to set to test them or have some sort of guarantee first before buying.
What is the best bot on 3Commas? ›- 3Commas — Best Binance Bot Overall.
- Murdex — Best for Small Deposits.
- Bitsgap — Best for Sideways Markets.
- TradeSanta — Best for Arbitrage Trading.
- CryptoHopper — Best for Copy Trading.
- Pionex — Best for Flexible Trading.
- Coinrule — Best for Technical Trading.
3Commas Pricing
The Starter package costs $29 a month*, and includes: Smart Trading terminal. No limits for trading.
Trading Bots allow Crypto.com Exchange users to profit or build their positions by automatically placing orders based on pre-set parameters. By setting up a Trading Bot, users do not have to constantly monitor market activity.
Who owns 3Commas? ›3Commas was founded in Tallinn, Estonia in 2017 by Yuriy Sorokin, Egor Razumovskii and Mikhail Goryunov.
How do you withdraw from 3 commas? ›3Commas does NOT have access to withdraw or deposit funds from your accounts. You have 100% control of your assets.
Is 3Commas bot profitable? ›It's not uncommon for experienced traders to average between 15-25% profit over the many crypto trades they do each week. New users will likely experience lower profit percentages as you learn more about how to do technical analysis of the market and how to fine-tune your bots to get better performance.
Can you lose money with crypto trading bots? ›
Trading bots have their own sets of risks as shown above. If the code has flaws, your capital is also at risk of being lost in bad trades. Additionally, they may use complex trading strategies that lose you more money than they make. However, they also remove many other types of risks from your trading activity.
Are crypto bots risky? ›In particular, Virtual Asset trading is subject to high market risk and price volatility. The price of a Virtual Asset may move up or down, and may become valueless. It is as likely that losses will be incurred rather than profit made as a result of buying and selling Virtual Assets.
What is the success rate of trading bot? ›Some lower-risk crypto trading bots boast a 99% success rate, while others execute higher-risk strategies and have a lower success rate. The main thing most investors need to consider is whether the bot they're looking at can execute their specific investment strategy successfully.
What is the best timeframe for trading bot? ›Timeframe selection
Maybe a 1-minute or 5-minute chart is best. Do you prefer long-term swing trading? If so, maybe a daily time frame is the best option for you.
- 1) Pionex – Best for Crypto Trading for Beginners and Advanced Users.
- 2) Cryptohopper – Best for Copy trading investors and Fixed Fee Option.
- 3) Bitsgap – Best for arbitrage across multiple crypto exchanges.
- 4) HaasOnline – Best for Intermediate to Advanced Bot Traders.
- 5) Trality – Best for building bots for selling.
Crypto trading bots are very useful when done right. There are a lot of crypto trading bots on the market, and it's important to research which bots are right for you. As you take time to set up your bot correctly, you'll realize that crypto trading bots take a lot of the hard work out of crypto buying and trading.
How do bots make money? ›Another way to make money from your bots is by getting paid for them through paid work platforms like Google Adsense or Facebook Ads. These platforms pay out small sums of money each time someone clicks on an ad that was created by a bot built with their platform.
What is the best strategy for a crypto bot? ›- Trend Following Strategy. ...
- Arbitrage. ...
- Market Making. ...
- Decide on the programming language you will use. ...
- Getting hold of your APIs. ...
- API links for main currency exchanges: ...
- Create accounts with all the exchanges you will use. ...
- Pick a bot trading model.
Paper Trading was introduced a while ago and it simulates real-time forward testing which had much superior results than backtesting could offer. Thus, the backtesting is not available on 3Commas.
What is the rate limit for 3Commas API? ›What are the Rate Limits for API Users? 2,500 requests per 5 minutes for our REST API.
Does Crypto com have automated trading? ›
Users can use Auto mode to set up a Grid Trading Bot or fine-tune the parameters for their bot with Advanced mode in seconds. This applies to all trading pairs in the Crypto.com Exchange, including popular ones like ETH/USDT, BTC/USDT, and ETH/BTC.
How do you set up a crypto trading bot? ›- Step 1: Create a Binance account.
- Step 2: Create a Trality account.
- Step 3: Rent a Binance trading bot with Trality.
- Step 4: Or create a Binance crypto trading bot with Trality.
- Step 5: Connect your Trality and Binance accounts using API keys.
Grid Trading Bots are programs that allow users to automatically buy low and sell high within a pre-set price range.
How many people use 3Commas? ›3Commas is a cryptocurrency trading platform designed to help traders build automated bots. The company was founded by Yuriy Sorokin, Egor Razumovskii and Mikhail Goryunov in 2017. Currently, 3Commas integrates with more than 20 exchanges and serves more than 100,000 users.
Where is 3Commas headquarters? ›About 3Commas
The company was founded in 2017 and is based in Tallinn, Estonia.
3Commas was founded in Tallinn, Estonia in 2017 to address major pain points in trading crypto across multiple exchanges.
Does 3Commas have an arbitrage bot? ›3Commas arbitrage bots connect to Binance, HitBTC, Kraken, BitBay, and more through API keys. More exchanges mean more trading tools and opportunities to capitalize on.
How do I use 3Commas with TradingView? ›- Open the DCA bots tab and create a new bot. ...
- Go to the bot viewing page and find "Message for Deal Start Signal" and "Message to close order at Market Price" ...
- Open the "Alerts" tab, find and check the "Webhook URL" checkbox and enter the URL: https://3commas.io/trade_signal/trading_view.
The Smart Trade allows you to plan both buy & sell at the same time. You can set up Stop Loss and Take Profit conditions at the same time and even before the coin is purchased.
How much money do I need for a crypto bot? ›Fund your account
Many crypto trading bots require a minimum deposit of around $250.
What happens when you stop a bot on 3Commas? ›
The "Cancel" button removes all orders for this trade on the exchange and the bot stops working on it. The purchased coins will remain on the exchange, and the service will no longer take any action using them.
How much can a crypto bot make you? ›A lot depends on the size of your budget as well. If you have low amount of money, you are going to make less than the ones, who trade with thousands of dollars. On average you are going to make roughly $2000–3000 but once again these numbers are individual for every trader.
How much money do trading bots make? ›You can use trading bots (made with python code) to make money. This is the reason why more and more hedge funds, big financial companies, and banking structures are using these trading bots. You can expect 0.6-1% of profitability in a low volatility market. In that case, you can expect to earn around 20% every month.
How much does a trading bot cost? ›At most, a crypto trading bot will cost $20-$40 monthly per each function they have. In practice, however, you'll most likely need to pay $6-12 a month per bot function to rent one. This fee will vary depending on the developer's experience level and how many functions the bot has.
Are crypto bots illegal? ›Bots talk to an exchange via an “API” and can place buy and sell orders for you. It is done in both cryptocurrency trading and other types of trading. It is fully legal and welcome on most cryptocurrency exchanges; however, only specific brokers outside of cryptocurrency allow it.
Should I trust trading bots? ›Conclusion. Trading bots can certainly take some of the load off your hand if you program them right. If you cannot spend all your time analyzing the market, you can go for them, but at your own risk, as the world of crypto sure comes with high returns, but there are potential risks to it too.
What are the dangers of bots? ›While malware bots create problems and issues for organizations, the dangers for consumers include their potential for carrying out data and identity theft, keylogging sensitive information such as passwords, bank details and addresses, and phishing. Malicious bots can easily go unnoticed.
Do bots steal data? ›AUTOMATION OF APP ATTACKS WITH MALICIOUS BOTS
Malware infects the app, and the data is stolen. YOUR DATA Attackers make a profit from your data by accessing financial accounts, or selling it on the darknet.
It depends on stock and market conditions, chosen strategy, and algorithm type. A bot could make a 2% return for a day and then the market will change its direction and it will blow up day's profit and make a 3% loss.
Why do trading bots fail? ›If you intend to include a crypto bot in your trading strategy, you must ensure that the system is appropriately programmed. Crypto trading bots might fail due to erroneous stop-loss and take-profit limitations, algorithmic flaws, or non-trading platforms.
What are the most successful trading algorithms? ›
The most popular strategies are arbitrage, index fund rebalancing, mean reversion, and market timing. Other strategies are scalping, transaction cost reduction, and pairs trading.
How much should I invest in trading bots? ›How much do you need to start any crypto bot? There is a minimum amount which can be traded on each exchange, and it depends on the cryptocurrency exchange and the pair, an 11-dollar equivalent is usually enough for any pair.
Are trading bots risky? ›Are Automatic Cryptocurrency Trading Bots Safe? – Using trading bots is considered very high risk, just as trading is. There is a reason that trading platforms always have warnings stating that trading is high risk, and you should only trade with money you can afford to lose.
How many times should I trade in a day? ›Regardless of what you decide to do, the most important thing is for you to learn how to win consistently and not placing trade after trade. To this point, by placing just one trade a day, you are able to build up your skills while reducing the risks of blowing up your account.
What do most crypto traders use? ›The majority of cryptocurrency traders put their money into Bitcoin and Ether. However, trading utilizing technical indicators is possible because these cryptocurrencies move more predictably than smaller altcoins. Many cryptocurrency investors put a portion of their money into altcoins.
Which app is better for crypto trading? ›Binance is the best Crypto trading app in the world with maximum liquidity, and trading volume, along with a huge number of registered users. The Binance app offers Margin Trading which the user can easily understand and carry out in some simple steps.
Is there a free version of 3Commas? ›🤩 Anyone can create a free 3Commas account with just your email address. By signing up to 3Commas, you can have a FREE 3-day trial subscription to try out our platform. If you'll stop this trial, you'll be able to determine which of our plans is right for you!
Where is 3Commas based? ›About 3Commas
The company was founded in 2017 and is based in Tallinn, Estonia.
Baby Billionaires Club is not supported by Coinbase.
How do you stop a 3 comma bot? ›By clicking the bot ID, a table will open where you can see active safety orders and take profit orders. The "Cancel" button removes all orders for this trade on the exchange and the bot stops working on it.
How does 3 commas work? ›
GRID Bot. The GRID bot is 3Commas' newest bot, and it works by dividing a technical price chart into slices. Each slice, which covers a range of prices, is assigned a buy or sell signal. When the currency price crosses into a new slice, the bot will automatically buy or sell based on the signal assigned to that slice.
What is hard rate limit? ›When a hard rate limit is reached, no more calls are accepted from that customer until the beginning of the next time period. For example, you might want to permit a total of 1000 calls per hour (rate limit).
What is client rate limiting? ›Organizations use rate limiting to ensure the fair usage of their API-based services and other web services and resources by clients. It regulates the number of times a user can request a particular API-based service in a given time-frame.
Is 3Commas free for FTX? ›Fund your FTX account and you can now use all of the 3Commas functionality for free! Section 2: Create a bot on 3Commas.
What is a grid bot? ›Grid trading bots are trading algorithms or codes that attempt to make profits from price changes within the predefined grid area. The trader sets up the parameters or limits for the grid trading bot to function within the predefined range and execute orders as per forethought rules.
Can you trade on Binance in USA? ›The world's largest cryptocurrency exchange, Binance.com, isn't available in the US. It stopped accepting US users in 2019 after facing regulatory issues in the country. That's why Binance partnered with US-based BAM Trading Services to create Binance.us, a new cryptocurrency exchange for US citizens.
Is Autoview free? ›Pricing. As for the price for the services provided by Autoview, there are 2 options to choose from – the first is free, and there is a list of crypto exchanges that provide you with certain services, and the second is the so-called Bronze for which you will pay 24.99 USD per month or 269.99 USD per year.