For those who’re new to crypto buying and selling, you might need observed there’s a LOT to study.
There’s several types of crypto exchanges, restrict and stop-loss orders, buying and selling pairs, lengthy and brief positions, derivatives markets… it may be straight-up complicated. However crypto buying and selling bots make it simpler. They provide automated buying and selling methods, the power to repeat different merchants, plus a single dashboard to view your entire accounts as well.
3Commas is a well-liked crypto buying and selling platform that gives a great variety of automated buying and selling methods. They make it straightforward for learners to dabble to their coronary heart’s want, however provide sufficient technical muscle to fulfill seasoned crypto buying and selling professionals.
We’ll cowl the options and prices of the platform, in addition to tips on how to arrange an account and begin buying and selling.
In This Evaluation
Execs & Cons of 3Commas
professionals
- Full-featured free model — The 3Commas free account provides you entry to most options. Customers can arrange easy and superior buying and selling bots, join a number of exchanges, and entry the portfolio viewer to trace their trades.
- Paper buying and selling — One of the best ways to study crypto buying and selling is by doing, and the 3Commas paper buying and selling function helps new customers stand up to hurry with out the chance. The draw back? Not out there with free accounts.
- Effectively-designed platform — Constructed with crypto learners in thoughts, the 3Commas person interface is intuitive, with built-in tutorials to assist with each side of the platform.
- Change help — 3Commas helps 18 crypto exchanges, together with a number of the hottest ones available on the market. This degree of help is greater than most opponents, and permits you to select a prime crypto trade to make use of with the platform.
- Bot Presets — Making a crypto buying and selling bot will be overwhelming, so 3Commas has dozens of templates to select from. This makes getting a bot up and going a painless course of.
cons
- Restricted Bot Utilization — Grid and Choices buying and selling bots are restricted to 1 per account until you improve to the most costly plan.
Paper buying and selling not out there on free plan — Paper buying and selling is a good way for crypto newbies to check out buying and selling with out risking their very own cash, however 3Commas requires a paid plan to do this out. Appears a bit backwards. - Crypto bots are sophisticated — Whereas 3Commas makes a valiant effort to simplify crypto buying and selling bots, they will simply be downright sophisticated, and new customers might lose their manner attempting to get one arrange.
What Is 3Commas?
3Commas is an automatic crypto buying and selling platform that connects to your favourite crypto trade and makes trades in your behalf. They do that by way of a safe utility program interface (API) connection that permits 3Commas to purchase and promote crypto by way of the trade itself.
When you have a Binance account, for instance, you possibly can join it to 3Commas, and arrange a buying and selling rule to buy a cryptocurrency robotically. You possibly can set parameters, resembling:
“If Bitcoin (BTC) falls beneath $20,000, place an order of $100.”
3Commas presents a ton of customization, permitting savvier customers to program superior buying and selling bots. Nonetheless, the very best function is likely to be the preset buying and selling methods you can shortly copy/paste and use as your individual. Customers can select from dozens of crypto buying and selling bot presets, inside a number of kinds of buying and selling bots and methods out there.
Simply getting began? >>> The ten Finest Crypto Exchanges for 2022
How Does 3Commas Work?
New customers can enroll with simply an e mail deal with and password, or by way of an Apple or Fb ID. After signing up, you possibly can arrange your account and create your first buying and selling bot.
After selecting your most popular buying and selling technique, join your account to your most popular crypto trade. There are 18 in style exchanges to select from, together with Binance.us, FTX.us, Coinbase, and KuCoin.
Connecting to an trade contains inputting your account API settings, together with the API Secret, API Key, and Passphrase. This can be situated in your trade account settings.
After connecting to an trade you possibly can shortly arrange a buying and selling bot. You possibly can customise your individual bot, or select from preset bots primarily based on the technique you are wanting to make use of.
Upon getting copied a preset, or created your individual, you possibly can choose “Create Bot” to launch the technique. This can activate your bot and start executing trades primarily based on the parameters set.
All accounts and buying and selling exercise will be monitored within the “My Portfolio” tab, with a easy overview, in addition to real-time revenue/loss and asset allocation breakdown.
Essential Options of 3Commas
Crypto Buying and selling Bots
3Commas is thought for its buying and selling bots, with 4 distinct buying and selling methods that assist automate crypto buying and selling:
Greenback-Price-Averaging (DCA) Bot. The DCA bot is designed that will help you cut up your crypto purchases over time and use a dollar-cost-averaging technique to assist decrease your general value foundation for a crypto funding. You possibly can manually arrange a DCA bot, or select from a person preset.
GRID Bot. Grid buying and selling bots are a extra superior buying and selling technique that permits you to place dozens of orders for a crypto buying and selling pair at one time. A “grid” is the value factors at which purchase orders and promote orders are positioned. They can help you buy a cryptocurrency at a lower cost, and promote it at a better worth, primarily based on previous buying and selling efficiency of the pair. Grid bots will be manually configured, or you possibly can select from one of many person generated bots.
HODL Bot. The HODL bot is just like the DCA bot, however is barely meant for long-term investing right into a single crypto asset. For instance, you possibly can select to buy $50 in Bitcoin each seven days. The HODL bot is straightforward to arrange, and is a superb choice for learners.
Choices Bot. Crypto choices buying and selling has develop into extremely popular, and the 3Commas choices bot makes a sophisticated buying and selling technique a bit simpler (although it might nonetheless be a bit complicated for newbies). You possibly can select from over a dozen choices buying and selling methods in your favourite cryptocurrency, and set your choices expiry date. Simply notice that the choices buying and selling bot requires a Deribit account, which isn’t out there to U.S. customers.
Associated >>> What Is Choices Buying and selling?
Portfolio Monitoring
Since 3Commas can hook up with a number of crypto exchanges and place trades throughout many alternative bots and methods, it may be arduous to maintain observe of all of it. The built-in portfolio tracker helps consolidate all of your positions that will help you shortly see what is going on with all of your accounts and trades.
The portfolio reveals the asset allocation cut up between all of your cash, the every day and month-to-month revenue//loss share, and different detailed stats, resembling Sharpe ratio and Sortino ratio.
You possibly can create and monitor a number of portfolios with any mixture of your accounts, making it straightforward to trace your investments and trades over time.
Good Commerce
3Commas can be identified for its Good Commerce platform, which presents superior buying and selling options and charting, just like in style exchanges resembling FTX or Binance.
The Good Commerce dashboard permits you to view any buying and selling pair from any related account, analyze utilizing built-in TradingView charting, and create superior trades. You possibly can place market, restrict, or conditional orders, set take revenue and cease loss parameters, and arrange trailing orders. You too can entry buying and selling indicators, and activate/off any of the buying and selling options with the press of a button.
Whereas Good Commerce is a pleasant addition for superior merchants, new customers could also be overwhelmed by the quantity of options out there. And lively merchants which have a single most popular trade could also be higher off buying and selling instantly by way of an trade as a substitute of by way of 3Commas.
Trailing Orders (Take Revenue and Cease Loss)
3Commas bots and buying and selling methods have the power to program trailing orders, permitting you to guard your earnings throughout occasions of worth volatility.
There are two trailing methods:
Trailing Take Revenue: When a commerce goes properly, it’s possible you’ll wish to take some earnings alongside the best way. A trailing take revenue technique permits you to enhance the unique “take revenue” worth, within the occasion the value rises previous your authentic take revenue goal. This lets you hold taking earnings with out having to set new targets.
Trailing Cease Loss: A cease loss helps defend you from sudden drops available in the market. Establishing a trailing cease loss in your commerce robotically will increase your cease loss worth as your commerce will increase in worth. When the cryptocurrency worth hits new highs, the cease loss will regulate together with it, protecting you protected whereas reducing your potential losses within the occasion of a sudden drop in worth.
App Retailer
3Commas has its personal app retailer with dozens of apps, from monitoring and monitoring instruments, to bot administration apps. Most are free for obtain and you should use them to assist along with your buying and selling technique.
The apps on their market are person generated. Actually, you possibly can even create an app and add it your self to the 3Commas app retailer. Simply bear in mind that since they’re created by different customers, there isn’t a official help channel by way of 3Commas for particular person apps.
Alerts Market
“Superior” and “Professional” on 3Commas customers can entry one other built-in market to buy indicators and deploy a bot primarily based on them. Alerts are a part of a sophisticated buying and selling technique that makes use of a number of buying and selling analytics instruments to create “purchase” or “promote” indicators, and 3Commas can execute these trades robotically.
Alerts are offered by third-party companions and sometimes include a month-to-month subscription value. Customers with a “Free” or “Starter account can’t obtain or use indicators with out upgrading their account.
What Does 3Commas Price?
3Commas has a number of subscription tiers, beginning with a free plan, and going as much as a professional-level plan. Right here’s what’s included in every:
| Options | FREE | STARTER | ADVANCED | PRO |
|---|---|---|---|---|
| Price | Free | $14.50/mo | $24.50/mo | $49.50/mo |
| Grid Bots | 1 | 1 | 1 | Limitless |
| Choices Bots | 1 | 1 | 1 | Limitless |
| DCA Bots | 1 | 1 | Limitless | Limitless |
| Good Commerce Bots | 1 | Limitless | Limitless | Limitless |
| Paper Buying and selling | No | Sure | Sure | Sure |
| Scalper Terminal | Limitless | Limitless | Limitless | Limitless |
| Portfolio rebalancing | No | Sure | Sure | Sure |
For all account varieties, right here’s an inventory of options included:
- Automated trades throughout main exchanges
- Multi-level referral program
- TradingView integration
- Portfolio monitoring throughout all accounts
- Free cellular apps
- Greater than 20 buying and selling options
Pricing is general cheap in comparison with different automated crypto buying and selling platforms. The free account provides you entry to a number of buying and selling bots to check out, and many options are included at each degree.
One main downside is that there’s just one grid buying and selling bot out there for all ranges as much as superior, and that it requires almost $600/yr to entry extra of them. However general, the pricing appears truthful for every little thing that’s included.
How’s The Buyer Service?
3Commas presents a complete (and well-laid-out) help heart, with loads of “how-to” articles with screenshots and simple-to-follow directions. Customers may also ship an e mail on to the help staff at (support@3commas.io).
You too can attain out by way of completely different help channels, such because the 3Commas Twitter account, and the Discord help heart. However the very best half is the 24/7 reside chat help constructed instantly into the web site. I pinged them and acquired a response with 90 seconds, which is likely one of the greatest help responses I’ve seen of any crypto platform.
General, the client help for 3Commas exceeds that of most opponents, making it straightforward to get questions answered once you want it most.
Options to 3Commas
Coinrule
Coinrule and 3Commas each provide automated crypto buying and selling methods, in addition to the power to hyperlink to in style crypto exchanges by way of an API and execute trades in your behalf. Each help a variety of crypto, and each provide programmatic buying and selling setups.
3Commas is good for buying and selling bots that execute a excessive quantity of trades utilizing preset bots following varied methods. Coinrule, compared, is healthier for customers who wish to arrange rules-based buying and selling, with entry to 100+ templates and many customization.
Learn extra >>> Coinrule Evaluation 2022: Can a Crypto Buying and selling Bot Maximize Your Features?
Shrimpy
Shrimpy is one other automated crypto investing platform, however one aimed towards passive buyers. The platform presents automated rebalancing of your portfolio and helps you observe your crypto asset allocation.
Shrimpy permits you to hyperlink your entire crypto accounts and wallets in a single place, making it straightforward to view your whole portfolio. Their social buying and selling options additionally enable customers to share and duplicate profitable trades on the platform.
General, the platform is a easier manner of automating your crypto investments.
The Takeaway: Who Is 3Commas Finest For?
3Commas is a stable crypto buying and selling platform with a number of investing methods and automatic buying and selling bots. Crypto learners can attempt their hand at buying and selling, however don’t should consistently monitor charts. Plus, the free plan makes it straightforward to check out the platform with out committing to a month-to-month invoice.
3Commas additionally presents a paper buying and selling account to study the platform with out investing your individual {dollars} — nevertheless it requires not less than $15/mo plan to entry, which is type of lame. And the shortage of grid bots for lower-level plans limits the platform for customers who wish to arrange a number of automated bots, however aren’t pro-level merchants.
General, 3Commas has a number of the greatest help and an incredible person interface for crypto buying and selling bots and automatic crypto investing. It’s nice for each learners and superior merchants that need robots to commerce for them whereas they sleep.
Enhance your crypto trades with our guides>>>
- Learn how to Commerce Cryptocurrency (In 6 Straightforward Steps)
- Stacked Make investments Evaluation 2022: A Robo Advisor for Crypto Buyers?
- Finest Crypto Passive Revenue Methods
- Crypto Staking and Lending: Every part You Ought to Know
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