Review of 3Commas

3Commas Review 

There are many people who appreciate the financial rewards associated with crypto assets. However, not everyone has the skills, time, or endurance to work hard to succeed. When you have only two eyes, one mind, and 24 hours a day, scaling your trading activities may be difficult.

Crypto trading bot platforms like 3Commas come to the rescue here. We discuss 3Commas' features, pricing, and more in this review.

3Commas: what is it?

3Commas is a trading terminal application that utilizes cloud technology. 3Commas is not a cryptocurrency exchange, to avoid any confusion. It does, however, provide an interface for users to communicate with most major crypto exchanges, with assistance for charting and ordering.

3Commas can provide advanced functionality to both automated and manually operated traders when it is integrated with a reliable cryptocurrency exchange, such as Binance or FTX.

This integration could enhance automated strategies and copy trading capabilities to make the process autopilot with the help of bots. Additionally, these automated trading bots can perform crypto trades on your behalf while searching charts throughout the day.

3Commas helps manual traders create, analyze, backtest, test demos, and even copy portfolios from other traders. Additionally, manual traders have access to more than 90 candle patterns and more than 30 indicators.

Why Should You Use 3Commas?

Trading with cryptocurrency exchanges over a prolonged period can be tedious and tiring, despite the fact that it can be profitable. They lack advanced order management options like notifications, or automated, or notifications, and offer less effective stop-loss and take-profit settings. In addition, you will need to monitor charts continuously without the ability to monitor different exchanges at the same time.

3Commas can be found here,

Automated cryptocurrency bots are a great way to avoid trading while earning the same profit. The platform's ability to use automated trading tools in day-to-day cryptocurrency trading can transform your trading game forever. In addition to automated trades, you also get better profit and risk management, improved replicating options, and the ability to compare your data with different exchanges that are available in real-time.

3Commas specifications

As we discussed earlier, 3Commas offers plenty of trading features that can accommodate both manual and automated trading. Let's take a look at the key trading features available.

Connect Exchange APIs

Before doing anything, you should link your exchange account to 3Commas first. As a result, 3Commas will be able to exchange information and share an API key. You could benefit from this API sharing key even if you do not use bots.

Bots for trading along with automated trading

The 3Commas are most well-known for their automated trading tools. There is a wide range of crypto bots available that can be customized to meet the needs of individual users. You can customize your bots even if you don't have any programming experience. Depending on your needs, you can use templates to construct one yourself, construct one from scratch, or use already-configured bots.

Traders can also replicate trading bots created by other traders. Stats regarding the bot's performance are available, making it easy to duplicate a bot that meets your needs.

Here are some 3Commas bots and their features.

DCA Bots

When you are in an unstable market and prices fluctuate throughout the day or week, but remain within a steady range within several rectangles, DCA bots are ideal. DCA bots are pretty easy to design. In the bots for trading section, click the DCA bot.

These strategies are more likely to succeed if the trading conditions are ideal. These strategies could result in massive losses if the price is in a high-risk trend against the open position of the trader.

Grid bots

Using the pricing grid, these bots carry out automated trading. As soon as you select an opening position, the bot keeps an eye on it and opens and closes positions according to the market's price. It is possible to use grid bots for,

Manual trading strategy - The trader sets the range and the bot buys and sells within it.

Trading strategy based on AI - The AI bot sets the upper and lower limits of the grid and trades accordingly.

HODL bots

For investors with long-term plans who use a DCA approach to trading to lower their entry costs, this bot is ideal. By using a DCA strategy, these bots pay users at predetermined times. All you have to do to utilize this bot is choose an appropriate token, fiat currency purchasing period, as well as dates of the day at which to take action. However, many crypto exchanges offer native DCA purchasing options. As a result, using 3Commas only for that feature may not be a good idea.

Options bot

If you're an active trader of options, this is the best trading bot. Traders can customize it to meet their complex or basic needs. You can monitor your profits and losses, purchase conditions, and closing conditions using this bot.

Gordon bot

Gordon is a partially configured DCA bot. It also allows you to begin installing the DCA bot into your long-term trading strategy.

3Commas Account

Paper trading accounts (demo accounts)

When it comes to trading, there is a tradition of 90-90-90. In just 90 days after starting to trade, 90 percent of traders lose more than 90 percent of their capital. Therefore, newly beginning inexperienced traders are likely to incur some losses.

To combat this, you should learn everything you can before trading and gain experience. By using 3Commas and their paper accounts, you can practice trading strategies without risking any money.

SmartTrade/ Manual Trading

Since most cryptocurrency exchanges don't have trade-setting guidelines, 3Commas offers a great solution. The manual trading feature allows you to change everything from price, trade units, and orders, to stop losses, take profits, and even notification alerts. Furthermore, traders can keep track of their transactions using this feature to monitor their performance.

Portfolio Management

As with any exchange account, 3Commas offers a portfolio management feature. Furthermore, traders can view the profiles of other traders to determine if their strategies are effective, and then replicate them if they are.

Trading Signals Marketplace

With this feature, you can check the historical performance of other bots and purchase successful trading setups. Each bot has its own trading strategy and risk profile.

Tradingview Cryptocurrency Signal Finder

By using this feature, you can analyze the cryptocurrency market within a fraction of a second and find profitable cryptocurrency trades to invest in. As soon as a user creates a bot, they'll see a page with the bot's target information and the signal that needs to be included. Depending on the type of order, such as sell, buy, strong buy, or strong sell, you will need to send signals, as well as those obtained by the trading signals finder.

Pricing and Fees for 3Commas

Although 3Commas is one of the most highly rated and reputable cryptocurrency trading bots, it is not the most expensive. Despite the features it offers, the price is affordable. The price starts at 0$ and reaches up to 49dollars per month on the most comprehensive package. Take advantage of the three-day trial period before making any purchases to determine how the platform will work for you.

3Commas Security

Using an API key for interacting with funds of users provides great protection to the funds of the users. Due to the API key's lack of withdrawal capabilities, no user can withdraw funds or access personal information. Also included are high-end protocols, SSL/TLS encryption, and firewall security. The most important thing is that the platform hasn't experienced a single security breach in the five years it's been in operation.

How beginner-friendly is 3Commas?

As a bot for trading on the crypto platform, 3Commas offers a variety of complex strategies. In spite of the fact that anyone without programming knowledge can create trading bots, this platform isn't the most user-friendly. Besides that, most of the features on 3Commas' platform are for professionals. The 3Commas platform is designed specifically for experienced traders.

This site's self-help section does not explain these difficult concepts well to a novice. As well, while an experienced trader can get used to certain concepts after three days of trial, a brand-new trader may not be able to do the same. As a result, 3Commas is not suitable for beginners.

How to get started on 3 Commas?

The following is a step-by-step guide for getting started with 3Commas.

Fill out the registration form on the homepage (https://3commas.io/) to create your 3Commas account.

Choose exchanges or paper trading

Trading on paper allows traders to learn how things work and try out different strategies. Once you are confident in your abilities, connect to exchange and share an API key.

Create an automated bot

DCA bots can be developed in three ways. Gordon, the wizard, and the advanced bot are the three. Choose a bot that suits your trading style after doing your homework. Your chosen bot can then be added to the platform of your choice.

Conclusion

By using these bots, you can automate the process of trading crypto. You can trade all day long without hassle and save time. The high-quality features and reasonable price of 3Commas make it stand out from the many automated trading bots on the market.

With automated interfaces, customizable interfaces, account paper, and good trading signals, the platform is one of the most reliable options available. You should, however, do your research before making financial decisions.

FAQs

• Are crypto trading bots profitable?

If you are an experienced trader, trading bots are a very profitable option. The key is to have an understanding of the market and the strategies for trading.

• Is 3Commas safe?

Through the use of an API key, there is an 0 percent chance of your personal information or funds being taken by 3Commas. Additionally, they've had a clean security track since their beginning.

• Is 3Commas beginner friendly?

It's not true, 3Commas is not the most user-friendly platform. It's more targeted at experts who know the ropes.

3Commas User Friendliness