- The easiest and fastest platform
- Offers automated trading bots
- Simple and intuitive interface
- Access to tutorials and videos on almost all crypto trading functions
- Provides a variety of services
- No disadvantages generally, but there may be for users who cannot develop their own trading strategy
- 3Commas is the easiest and fastest online crypto trading bot platform for ordinary crypto traders.
- On this trading platform, you can also access tutorials and videos on almost all crypto trading features they have created for users.
- The 3Commas trading bots work on 18+ major exchanges and you can connect as many Exchange accounts as you want to your 3Commas account, in addition, you can have multiple accounts for one exchange.
- The bot analytics feature provides detailed information about the most effective bots and trading pairs, and the marketplace is well implemented and easy to understand.
- Uses highly secure algorithms and encryption methods for storing data and crypto assets so users can be sure that their money is safe.
You know crypto is the future, and you want to get more involved in it, but you don’t have the budget for larger investments nor the time for active manual trading.
You’ve heard of automatic trading bots, but you’re unsure if they’re safe, considering that scams are lurking on every corner of the Internet.
In this 3Commas review, we’ll talk about one of the top three leading trading bots, and see whether it’s legit or a scam.
What is 3Commas?
As you probably already know, automated trading bots are set to buy and sell cryptocurrency automatically by following the instructions you placed.
The company is based in Estonia and its main purpose is to help people earn money in a short period. It is the easiest and quickest online crypto trading bot platform for everyday crypto traders just like you. It offers automated trading bots, but provides access to manual trading as well.
If you are a beginner, don’t worry. This trading platform is suitable for you, since it has a simple and intuitive user interface and developed trading tools to make generating money online as easy as possible. On this trading platform, you can also access tutorials and videos on almost every crypto trading feature, that they’ve made for users like you.
No matter what you’re looking for – an automatic crypto trading bot or manual trading with the bot’s assistance, after our 3Commas review you will know if this bot is right for you, or if you should go find another way to make a profit or another automated trading solution.
How does 3Commas work?
3Commas’ platform provides various services that correspond to different trade markets. To simplify your trading process, we outlined the core product below.
3Commas automated trading bots are four different bots: DCA bots (dollar-cost average), a HODL bot, a trading grid bot, and an options trading bot. Each of them calls for a different setup of the 3Commas bot, which we will discuss in more detail later in our 3Commas review.
In short, no matter what kind of 3Commas bot you use, basically, the 3Commas trading bot will always open and close deals automatically.
Now, you must be wondering how do 3Commas bots decide what to buy. Well, the bot will initiate transactions if the trading parameters you defined are satisfied. When earnings reach the specified value, the bot will sell the assets, raising the worth of your trading portfolio.
However, don’t think that you can’t lose money with 3Commas trading bots. Even the best cryptocurrency trading strategies are not perfect. That’s why it is necessary to set up stop losses to lower risks.
Let’s now see how each of these trading bots works.
How do DCA bots work?
The 3Commas DCA long bot places a trade after receiving a buy order (limit or market), and it places a take-profit trade when you want to cash in.
If the market moves in your favor, the bot will simply sell the assets in a particular trade, while keeping the difference in your wallet. However, when the market seems to be against you, this DCA bot strategy takes on a completely new level.
Consider making a trade at the initial trade price of $100 with a 15% higher take-profit level ($115 in this case). The price varies over the next few days, changing to $90, $80, $70, $90, and then it rests at $105.
Without DCA, your take-profit would stay at $115 and the trade would stay open. With the DCA bot, however, the average price moves to $89.17 ((100+90+80+70+90+105)/6 = 89,17).
As a result, even if the $115 target hasn’t been achieved yet, you may obtain the 15% at a lower take-profit pricing point of $102,54 ($89,17+15%=102,54), allowing you to close the deal in the green.
How does a HODL bot work?
HODL bots provide greater freedom while still sticking to the traditional DCA (Dollar Cost Averaging) investing method. Traditional investing involves monthly withdrawals from your account, which are subsequently invested in bond funds, mutual funds, and other components of a diversified portfolio.
The HODL bot from 3Commas operates similarly, except you can choose the specific asset and purchase frequency.
For instance, if you wish to invest $600 per month in Bitcoin, you could set up your HODL bot to purchase $600 every 30 days, but you could also instruct it to buy $20 worth of Bitcoin each day.
How does the 3Commas grid bot work?
The next thing we’re going to discuss is the grid bot.
This program automates the process of buying and selling assets by using a grid made up of buying and selling rates. Grid bot works well for cryptocurrencies that run sideways, since it enables you to profit from such cryptos’ slight fluctuations frequently.
The grid bot seeks to catch the smallest price fluctuations by separating this range into many grid levels. It creates a buying or selling limit order at each level, providing you with the option to purchase or sell based on price movement.
Also, with the grid bot, you can create a trading strategy to delay purchasing an asset at the present price if you think that it is too high, or the strategy to purchase an asset in tiny amounts.
How does the options trading bot work?
We have now reached the last of the four trading bots in this 3Commas review.
Options are one of the most difficult financial instruments to learn. If you are a holder of options, you have the right, but not the obligation to sell or buy an asset in the future.
The two key components of options trading are:
- The strike price – the price that you consent to pay when you eventually buy or sell the asset.
- The premium – the sum you must pay if you decide not to fulfill the contract, or, to put it another way, the cost of the deal.
Upon expiration of the contract, as a holder, you don’t have to pay the full strike price of the contract, but just the premium of the option.
3Commas options trading bot includes some complex trading strategies, so to learn how to apply them, you should have a good understanding of how options trading works.
3Commas supported exchanges
3Commas trading bots operate in multiple exchanges. To be precise, 18+ major exchanges. You can connect as many exchange accounts as you want to your 3Commas account. Also, you can have multiple exchange accounts for the same exchange.
Not all features are offered for all exchanges, so we’ll list a few exchanges along with the features available there:
- Binance – Smart Trade, Portfolios, DCA Bots including Gordon bots, GRID bots;
- Binance US – Smart Trade, DCA Bots including Gordon bots, GRID bots;
- Bitstamp – Smart Trade;
- Coinbase Pro (GDAX) – Smart Trade, DCA Bots;
- Gate.io – Smart Trade;
- Poloniex – Smart Trade, Portfolios;
- KuCoin – Smart Trade.
Major features of the 3Commas automated bot
Now, it is time for us to go through the 3Commas cryptocurrency trading bot’s key features, primary benefits, and potential drawbacks.
You may set up a bot to trade for you round-the-clock by using automated trading. You have the option to create your own bot from scratch or to buy trading strategies on the open market.
With the right setup, this may generate a reliable passive revenue stream every day or month.
There are two types of bots on the 3Commas platform:
- simple bot,
- composite bot.
With the simple bot, you just choose a trading pair, set your take-profit targets, and let the bot run.
However, the composite bot is a little more complex, but offers more flexibility. It allows you to choose multiple trading pairs and run them simultaneously.
Manual trading with smart trade feature
If you want to open and close positions manually, then you should choose manual trading. You can set up notifications to ensure you don’t miss out on profitable possibilities. In this case, nothing will happen without your approval.
With this feature, you can get a list of all the exchanges and coins you possess. You can set percentages for each currency you wish to possess, and 3Commas will make the purchases and maintain the balance of your portfolio by automatically buying/selling trading pairs when the specified proportion is violated.
Can you do futures and margin trading on 3Commas?
In a nutshell, yes, you can.
3Commas supports Binance Futures Bitcoin X, BitMex Bitcoin X, and other cryptocurrencies. Please note that margin trading is only possible via a Smart Trade terminal dedicated particularly to manual trading.
How does the smart trading feature work?
To assist customers in maximizing their trading earnings, 3Commas includes the Smart Trading function, which makes use of the take-profit and stop-loss orders.
Traders can modify their portfolios by placing buy or sell orders at certain price points.
For both experienced traders and newcomers, this is combined with TradingView signals. Here, you can see the trading dashboard of TradingView:
3Commas trade signal marketplace
Success in trading mostly depends on how one responds to changes in the market. By knowing when to enter and exit, people with the “magic formula” can significantly reduce costs and gain more than those without it. “Trade signals” constitute this formula.
A trade signal is an indicator of a particular market trend that urges either to buy or sell an asset. Trade signals are generated through a study of technical analysis, mathematical formulas based on market movement, or a combo of financial factors.
3Commas enables you to follow signals from knowledgeable traders, for a monthly charge. You only need to build a signal bot, link a preferred exchange account, look for a signal provider that meets your needs in the 3Commas Marketplace, and then follow the instructions.
TradingView cryptocurrency signal finder
You can also manage your DCA bots by using TradingView signals, another cool feature of the 3Commas crypto trading platform. If you are already familiar with TradingView charts, indicators, and alerts, you can benefit from this data.
TradingView signal-finding software scans cryptocurrency markets in symmetric terms to detect potentially profitable signals. The protocol provides the following orders: “buy” the assets, “sell”, and the “strong buying” order.
When 3Commas’ automated bot receives signals, it orders automatically. It always includes exit strategies based on profit and loss, which can be determined by using a trading view algorithm. It’s important to know how to adapt the underlying details, related, for instance, to entering or exiting the market, to your specific situation.
Premium CQS signals on 3Commas
The crypto quality signals (CQs) on 3Commas are a common signal provider on the platform. CQS scalping signals are designed to increase profits on multiple trading platforms and enable the trader to make an accurate profit.
Is 3Commas trading bot suitable for beginners?
Generally, the platform is fairly easily navigated, even for new traders, while trading bots can be set up without hassle. Many functions can be accessed in just a few minutes via your accounts.
Connecting to an exchange or creating a bot is also possible, with just one click. The dashboards are likewise beautifully presented, and a sidebar allows the user to quickly select a particular tab or feature.
The bot analytics feature provides detailed information on the best-performing bots and trade pairs, and the marketplace is well-implemented and easy to understand. The portfolio development, tracking, and Social Trade features appeal to both novices and experienced traders.
3Commas – learn at trading academy programs
At 3Commas, you also have a tool at your disposal that allows you to become an expert by helping you learn how to trade. The crypto industry operates a trading school that provides a complete overview of crypto. You can use it if you want an advanced understanding before trading.
How safe is 3Commas trading bot?
3Commas has taken security seriously. It uses highly secure algorithms and encryption techniques for data storage and crypto assets. Users can be assured that their money is safe and has never entered into possession on ThreeCommas’ website.
It has the key purpose of directing users to close trades, meaning the user cannot withdraw or transfer money. 3Commas uses APIs connected to the exchange, meaning no user information will be shared. The username and password cannot be retrieved from the trading system.
How to start on 3Commas?
The main page features a green “Create an Account” option at the top of the page, so creating a trading account is a simple procedure.
Create an Account
After clicking the “Create an Account” button, you need to fill out the form:
Choose a bot
There are four kinds of trading bots: simple, composite, short, and composite short. The simple trading bot uses one trading pair only and is the easiest to set up.
Connect one or multiple crypto exchanges
When you start off, the simple trading bot feature only functions with the Binance exchange, so you may link a Binance account here. Make sure that your account has an API connection, holds BNB, and has the BNB fee payment function enabled.
Select a trading pair, then specify the base trade size
From the drop-down box, choose the trading pair you want your bot to trade with. Then, specify how much of your preferred currency you want to use in the initial trade.
Specify target profit
Setting a safe trade size in advance will allow you to make purchases after any drops in a more controlled manner. If you choose ETH/BTC as the trading pair, and after the price falls below the initial trade price following the purchase of ETH, active safety trades enable you to gain more ETH by using the specified BTC amount.
Pick a take-profit strategy
There are two options for take-profits: a percentage from the base trade or a percentage from the entire volume.
Preset max safety trades
This tells the trading bot how many safety trades it may execute before it stops, and the maximum active safety trades count informs the trading bot of the maximum number of active safety trades it is allowed to make at any given moment.
Establish price deviation to initiate safety trades
This parameter, specified as a percentage, instructs the crypto trading bot when it may start carrying out safety trades. When the value is set to 3, the trading bot will begin to perform safety trades once the value of the selected currency decreases by 3% below the first trade price.
Establish trade start parameters
This gives the bot instructions on when to place the first trade. There are options like TradingView Signal Buy, TradingView Signal Strong Buy, Buy Manually, or Open New Trade ASAP.
By following these steps, you can set up a bot in just a few minutes, and even if you are a beginner, the entire process is simple enough to follow successfully.
3Commas trading bot: pricing plans
We now arrive at the last section of the 3Commas review. The platform offers users four different ways to interact with it. Each 3Commas plan is commission-free, with no hidden fees. 3Commas prices are displayed below:
The 3Commas cryptocurrency trading bot is the most widely used cryptocurrency trading bot. Several new trading features and smart trading tools are offered, and the bot was tested on a number of leading cryptocurrency trading platforms.
Is 3Commas profitable? That depends on the individual. While some users can make actual money with 3Commas trading bots, other users, who are not able to develop their own trading strategy, may experience losses.
3Commas is a subscription service offering four different plan choices for each user. These plans range from $0 to $49.5 per month, with annual payments.
The company started out as the industry’s largest non-custodial trading automatization platform. It currently provides support for more than 100,000 users, with consolidated volume exceeding $12 billion in 2020.
Since it can’t be one of the leading cryptocurrency bot companies and a scam at the same time, the answer is no, 3Commas is not a scam.
It is undoubtedly among the greatest systems for automated smart trading now available. It has a ton of functionality and fantastic customization options for bots.
None of the content in this article is investment advice nor is it a replacement for independent financial advice from a certified financial expert.
I recently tried out 3Commas and was pleasantly surprised by how user-friendly the platform is. As a beginner, I appreciated the simple interface and the tutorials available on almost every feature. The trading bots are also easy to set up and customize based on my trading strategy. Overall, 3Commas is a great option for anyone looking to get into automated crypto trading.
3commas offers quite poweful trading bots, and didn’t have trouble setting them up at all… trading works like a charm, and this bot was very helpful in saving me lots of time.
also want to mention the ability to backtest trading strategies, excellent security features, and the fact that my API keys are kept secure… after losing funds due to security issues before, I’m extra careful in this regard, and 3commas takes this matter quite seriously. overall, very satisfied.
Using 3commas for a few months, I have mixed feelings about the platform. It’s user-friendly with several features that saved me time and helped me make profitable trades. However, technical issues and challenging navigation in advanced features can cause frustration. Despite its limitations, 3commas has been a useful tool for my trading.
Was a bit hesitant to try out an automated trading bot, but 3Commas has changed my mind. The DCA bot in particular is incredibly useful, allowing me to dollar-cost average my trades and minimize my risk.
The platform also has great customer support, and it’s very nice to see frequent updates and new features they add. However, did encounter some glitches and had some trouble with the interface. Still, if you’re looking for an effective way to trade crypto, 3Commas is definitely worth checking out.