3Commas is a platform where you can find trading bots for various market conditions. As per the vendor’s claims, these bots are excellent for reducing average acquisition expenses.
About 3Commas
At 3Commas, you can set your strategy and let the bots carry out the trading operations. You can specify triggers and set up your actions beforehand. The platform supports some of the top exchanges on the market.
3Commas crypto trading bot: how does it work?
When the market is downtrending, you can use DCA Short bots to borrow and sell tokens at the present value and later repurchase them at a lower value. For bull markets, you can use the DCA Long Bots to purchase the dips and sell at an opportune moment as the value increases over time. This allows you to get a better average entry price for the trading positions.
When the market is trending sideways, you can buy cheaper coins using Grid bots once they reach support levels and sell them once they approach the resistance levels.
How to set up 3Commas?
First, you need to create an account on the official webpage. You get a free trial to test the bots. For trying out a new strategy, you can use the paper trading feature since it doesn’t require real money. To start real trading, you need to link your exchange account. After that, you can start setting up a trading bot. In case you don’t know what to do, you can always copy the presents from other seasoned traders.
Key takeaways
3Commas has a portfolio investment tool that lets you create portfolios with any coin amounts. You can maintain coin ratios to balance your portfolio. It is possible to review the incomes of other individuals. You can also copy and edit ratios in the portfolio.
Where there is a trading opportunity, you can receive notifications on your email, Telegram, mobile app, and browser. The platform utilizes trading signals from reliable sources like Crypto Quality Signals Premium and Cartelsignals. You can also earn money via crypto referral payments.
User interface
The trading terminal of this platform is paired with TradingView indicators. You can view the charts for multiple exchanges in one place at the same time, so it is pretty easy for users to follow the trades on this platform. The website has each section clearly detailed and the vendor has tried to cover the maximum possible information.
Trading strategy behind 3Commas
This platform uses short-term strategies like Scalping and Day trading. Apart from that, it also uses medium and long-term strategies like swing trading, trend trading, and HODLing.
How profitable is 3Commas
Profitability depends on the market conditions, the chosen strategy, and a wide range of other factors.
Safety and security of 3Commas
This platform has a Web Application Firewall, DDOS attack protection, as well as SSL/TLS encryption between origin servers and visitors. It links to exchanges using secure API keys and does not have permission to make withdrawals. Moreover, you can secure your account using 2-factor authentication.
Customer support
You can contact the support team using the official email address or by filling out the contact form.
Reputation
The head office of this company is located in Tallinn, Estonia. It was launched in 2017 and today it has more than 220,000 registered users. This platform has been covered by media outlets like Bitcoinist, Coinspeaker, News BTC, and Cointelegraph.
Team members
The vendor has not revealed the identities of the team members. We don’t know whether they have the required experience to build a platform like this.
Exchange compatibility
The exchanges supported by the platform are as follows:
- Binance
- FTX
- Huobi
- OKEx
- Bybit
- KuCoin
- Gate.io
- BitMEX
- Kraken
- Bitfinex
- Deribit
- Binance US
- Bitstamp
- Gemini
- Bittrex
- Coinbase Pro
- Poloniex
Pricing details
Apart from the paid plan, there are three paid plans called Starter, Advanced, and Pro. The monthly charges for these plans are $14.50, $24.50, and $49.50, respectively. There is no refund policy for any of the plans.
3Commas review: upsides and downsides
| Upsides | Downsides |
| High-end security features | Lack of vendor transparency |
| Advanced analytics | |
| Large number of supported exchanges |
3Commas review: final remarks
3Commas offers efficient trading bots for traders of any level. It has advanced charting and analytical tools, and the developer has made sure the platform is safe to use. Even if you are a beginner, you can get decent results by copying the strategies of experts. On the downside, there is very little information on the parent company.
