3Commas vs. Coinrule: which trading bot is better for beginners?
If you are just starting out in the world of cryptocurrency trading, you may be wondering which trading bot is the best for beginners. This blog post will compare 3Commas and Coinrule and help you decide which one is right for you. Both bots have their pros and cons, and you should decide which one is for you based on your skill level, preferences and style of trading.
We will compare these two bots based on criteria that are important for every trader, such as security, demo accounts, customer support, etc. The idea is to show which bot is better for which purpose, set specific ratings for the criteria, and see what the best crypto trading bot for beginners is.
Comparison of crypto trading bots
|Min.deposit||From 1 USD||any|
|Supported exchanges||Binance,Bitfinex, Bitstamp, Bybit, Kucoin, Bitmex and over 20 more||Binance, HitBTC, Coinbase|Pro, Okex, Bitstamp, Poloniex, Kraken, BitMEX, Bitpanda, Liquid|
|Payment options||Credit cards, PayPal,Cryptocurrency||Stripe, Chargebee, Checkout.com, Credit Cards|
|Monthly price||Starter 29$,Advanced 49$, Pro 99$, with discounts if for annual payment||Starter – Free|
First and foremost, you need to make sure your trading bots are secure. 3Commas uses an encrypted API to connect to exchanges. This means that the 3Commas system communicates with exchanges back and forth during trades, but it never has real access to your funds because the system never knows your actual login data. There is no cache and everything stays within the encrypted API keys. Furthermore, the developers say it has solid Cloudflare protection tools such as DDOS protection, firewall and SSL encryption.
However, there is an ongoing situation with 3Commas in which more and more users are reporting that they lost their funds because of an API key breach. There are unauthorized trades on peoples’ accounts and lots of money was reported leaking. 3Commas responded to this recently, first attributing the problem to phishing and saying that API is safe. Still, they confirmed the problem afterward and said they were looking into it. We cannot give a definitive security grade because the final outcome of this is still unknown. Here is a confirmation of API unauthorized trades from Binance support:
Coinrule has no known security issues so far and their reputation is pretty much intact. They have a community on various social media mostly reporting being satisfied with security. Coinrule works with private keys that are kept with the users and saved on some detached data storage with AES-256 encryption.
When choosing a bot, always look for one that supports multiple exchanges. In our case, both bots give satisfactory results.
3Commas offers a large number of supported well-known exchanges, such as Coinbase, Binance, Bitmex, and so on. It boasts a large community of users across platforms – over 200 000.
Coinrule has fewer exchanges (12) supported, but they are mostly top-tier, like with 3Commas. It also listens to the community requests for adding new exchanges, and is doing so at a good rate.
3. Trade automation scope
3Commas is an automated trading platform offering a variety of trading bots, such as DCA short bots, DCA long bots, or grid bots. The platform and the bots are easy to use and are built smart, but in order to maximize the potential of each setup, the interface needs to be understood thoroughly and there is a rather big learning curve when using 3Commas.
Coinrule offers fully automated trading bots that use technical and fundamental analysis to understand trading charts. They have a variety of built-in bots in their platform, but you can also create your own bots of different types. They are really easy to understand and you don’t need to know how to code to use them.
They are both automated, but Coinrule gets the win for its automated trading being easier.
4. Demo account
Both bots offer the option of using a demo account for paper trading.
3Commas paper trading works on Binance spot markets and offers a maximum amount of 100 orders. The simulated fees are 0.1%. At the moment, this feature is only reserved for the paid programs of 3Commas. Be careful that it also matches the level of the active subscription, so, for example, a Starter plan means unlimited trades but only one Grid or Dollar cost averaging bot.
Coinrule offers a virtual account with paper trading on Binance, and they say it mirrors actual trades properly. You get 10 BTC, 10000 USDT and real market conditions to trade in. Both limit orders and market orders are available on the demo exchange, and the simulated exchange fee is 0.1% to make it as realistic as possible.
The big advantage of Coinrule here is paper trading on a free account. Both bots offer similar benefits in relation to paper trading quality and possibilities, so Coinrule takes a slight edge.
5. Pricing and free trial
3Commas has the option of a free trial that lasts three days and opens all the features for you. After the trial ends, you will be redirected to the free subscription plan. Here you can see the differences between account levels:
Coinrule has a great free account option that lasts indefinitely instead of a free trial that will end. Here is what you get from trading tools from free, hobbyist, trader, and pro plans respectively:
3Commas does not offer backtesting because they believe the results may be misleading. On the other hand, Coinrule has a full-fledged backtesting option in its trading terminal. You will use an encrypted template which guarantees its security, and the interface with trading signals is very user-friendly. We will not include this grade in the final score because 3Commas does not have it as an option.
7. Customer support and Tutorials
3Commas has a learning hub blog for various tutorials, and lots of useful information about strategies, testing and tutorials can be found online since it is a well-known bot with a large base of followers. They have a live chat for customer support whose typical response time is under five minutes. Still, we also have to include the response to the current API leak affair into the whole picture, and this is yet to be seen. So far, they have been satisfactory.
Coinrule has a live chat function on the platform and email or social media to turn to for help. Its advantage is that the support helps not only with technical issues, but also with trading strategies. Coinrule is very active on Twitter and lots of useful information and updates can be found there.
Profit numbers can never be exact without knowing a particular trader’s skill level and the viability of their trading strategy. But we can talk about profit potential based on the facts covered so far. Both bots are made for fully automated trading and can be a worthy tool. For beginners, going for Coinrule may be a better solution because you won’t get additional risk from going above your head with an automated trading bot you still don’t know enough about.
If you decide to pick one of the two bots, the best you can do in order to enter the world of profit is to get informed as best as you can. Both this Coinrule review and this 3Commas review can be a good starting point to get you fully familiarized with all the characteristics. Then you can proceed with learning about templates and strategies.
Both of them are listed as verified cryptocurrency trading bot companies on Truspilot.com, with 3Commas leading with a higher grade – 4.4/5 to 4/5. Officially, they are both legit as crypto trading bot platforms and their crypto trading bots are not a scam. Just make sure to follow the current 3Commas API keys situation and see how it resolves, because the API leak is not a minor issue.
They are not inherently risky, in the sense that any real and legit crypto trading bot is as risky as their users’ decisions and trading strategies. What they have going for them is that they are easy to use and beginner friendly, and they have a decent-sized online community that you can follow and learn from it to further reduce risk.
Objectively, they both have advantages, and they support traders with many helpful tools to enhance trading, whether in speed, ease of use, or potential profit.