3Commas Review: Is it Best for All Skill Levels?
3Commas is one of the most well-known web-based cryptocurrency trading bots. As can be seen, 3Commas has grown extremely popular among investors in the financial sector. There are currently 220,000 registered users and 26 supported exchanges.
With Coinbase, GDAX, Binance, Bitfinex, Huobi, and others, the 3Commas trading bot presently supports 12 exchanges.
Investors can manage, monitor, and execute orders on several exchanges using the 3Commas trading bot, allowing them to make better trading decisions. 3Commas is well-known for assisting traders of all levels of expertise in achieving consistent gains.
This article will help you understand 3Commas in terms of idea, operation, benefits, and drawbacks by providing examples.
3Commas Review: What Is 3Commas?
3Commas is a bitcoin trading bot that was launched in 2017 and is run by a Toronto-based firm. 3Commas is quickly becoming the most popular bitcoin trading bot on the market. 3Commas is a bitcoin trading platform that allows you to create automated trading bots.
Crypto bots (also known as trading coin bots) are software solutions that automatically purchase and sell cryptocurrencies, as you may well know. By obeying user-defined norms and standards on electronic transactions.
3Commas is one of the features that gamers find appealing. The first reason people use 3commas is because of its clever functionality. It also has portfolio management capabilities. It includes not only a trading diary but also a trading box. It now has even more recent interfaces with several financial exchanges.
3Commas may be used by traders of all levels, from novice to experienced. It's made to maximize your profits while minimizing your risks and investments.
This platform allows you to keep track of all of your transactions using just one software. Furthermore, if used correctly, 3Commas may essentially provide you with financial independence.
How does 3Commas work?
The flexible framework of 3Commas allows traders to utilize primarily automated trading bots, develop automated trading sequences, and use automated buying and selling tools. Users may employ automated trading bots and follow and mimic the behavior of successful traders using 3Commas.
Users may also engage in trading and afterward adopt trading tactics based on their settings in the trading process. To begin, you must first connect your external exchange accounts to the 3Commas platform. In a word, this allows you to give 3Commas access to your trading account so that you may pick what you want to do with it.
In general, you'll need to sign up for each exchange platform separately and then place your orders one at a time.
With 3Commas, you can now select your trading strategy. It provides a variety of specific trading options available through smart trade on your chosen exchange platform.
Smart Trading using Take Profit and Stop Loss orders is incorporated into 3Commas to assist customers to limit risk and increase trading profits.
Traders may tailor their portfolios by placing buy or sell orders at predetermined prices. In general, using trailing take profit and trailing stop loss at the same time is not a good idea. The following is how the commands work:
- A trailing stop-loss order is a form of trade order in which the stop-loss price is set as a percentage or defined dollar amount below the starting transaction price rather than as a single dollar amount. When the price rises, it also raises the trailing stop loss. When the price stops rising, however, the stock price falls and remains at the same level as when it was launched. The stop loss is triggered when the price falls. The stop loss % can be specified in the corridor size field.
- To boost profit, we employ Take Profit instructions, which function similarly to trailing stop losses. A trailing take profit is a stop that adjusts outwards and follows the price in the case of a long transaction. The main goal is to get the most out of your money. It's also a safe approach to lock in gains without having to keep track of the charge and alter your price target levels on a frequent basis. In a consolidating or indecisive market, we should employ Take Profit instructions.
What are the Features of 3Commas platform?
1. Security:
3Commas connects to your exchange account via API credentials and does not allow withdrawals. Furthermore, 3Commas does not route activity through their servers and instead works directly with exchangers.
Both of these aspects contribute to the security of 3Commas since hackers have little reason to hijack your account because they will not gain anything from it.
The platform is more secure because it is housed on a solid server. Furthermore, it eliminates the requirement for any desktop apps to be installed. One word of caution: 3Commas does not recommend giving its API any withdrawal privileges.
As a result, the customer's account stays secure and does not fall into the hands of a third party. 3Commas also provides two-factor authentication (2FA), which secures traders' accounts and data.
2. Customer support:
New trader-friendly features include support for a variety of trading methods. A ticketing system is used by 3Commas to provide customer service.
Aside from that, the platform has a comprehensive knowledge base with detailed solutions to the most often asked topics. It also offers introductory lessons.
The platform works well in a variety of languages, particularly English and Russian. A customer service team is also accessible 24 hours a day, 7 days a week to help with any issues.
Users can reach out to the organization by filling out a form in the support center. To discuss trading tips and tactics, join the Telegram group, YouTube channel, and other social media outlets.
3Commas employs hundreds of full-time Customer Support representatives who are well-versed in cryptocurrencies and financial services, as well as the company's goods and services. It delivers thorough and precise solutions to consumer concerns in a timely manner.
3. The Smart Trade:
one of the most worthy features allows you to place your trade. With Smart Trade, you can buy or sell currency trading pairs by using several essential management tools.
With each carefully reviewed trading pair, it will help investors be confident in their decisions.
4. Other features:
- Notifications: Receive deal notifications on your browser, through a mobile app, on Telegram, and via email.
- Portfolios: an investment tool and one other useful feature within 3Commas. This feature promotes creativity with any coin amounts and Balance your portfolio by maintaining coin ratios. This is also Copy and edit coin ratios in your portfolio.
- Automated trading with Trading Bot: Trade 24 hours a day with technical indicators
- Functionality: Users can make use of short, simple, composite, and composite short bots, set stop loss and take profit targets, as well as customize their trading strategies.
- Apps on App Store and Google Play: Our app allows you to trade and follow deals through your smartphone or tablet.
- Marketplace: Use trading signals from Cartelsignals, Crypto Quality Signals Premium, and other providers.
- Referral program: Earn money with cryptocurrency referral payments. You can spend it on 3Commas or can withdraw it.
- API Access: Configure and use API features on your platform.
- GRID bot: it works by dividing a technical price chart into slices.
3Commas Pricing and Plan?
Although 3Commas allows users to try it for free, after the trial period expires, users must purchase one of the membership packages with different features for each plan. There are four packages respectively: Free, Starter, Advanced, and Pro.
Free it comes with a free version that lets you use almost all the basic features with one account exchange. It's suited for beginners or passive investors of digital assets. The free plan included:
- One smart trade
- One DCA Bot
- One GRID Bot
- One Options Bot
Starter It costs $14.5 a month and allows interaction with one exchange, five trading pairs, and the Simple trading bot will receive a 50% commission. Everything is free, plus:
- Unlimited active smart trades
- One DCA bot
- One GRID bot
- One Options bot
- Unlimited Scalper Terminal
- Paper trading
Advanced plan cost $24.5 which will allow interaction with 2 exchanges, all trading pairs, and Composite bot will receive 50% commission. Constitute investment advice is that if you want to use automated bots in your trading strategy then the advanced plan will be perfect for you. Everything in Getting Started, plus:
- Unlimited active smart trades
- Unlimited DCA Bots
- One GRID bots
- One Options Bots
- Unlimited Scalper Terminal
- Paper trading
Pro plan for $49.5 will allow integration with an unlimited number of exchanges and can use an unlimited number of trading bots. Everything in Advanced, plus:
- Unlimited active smart trades
- Unlimited DCA Bots
- Unlimited GRID bots
- Unlimited Options Bots
- Unlimited Scalper Terminal
- Paper trading
Who is 3Commas Best For?
While the portfolio creation, tracking, and social trading feature suit the person who is a more experienced trader. It is also a good choice for new traders. Because the platform is generally quite easy to navigate and to use
- 3Commas is free to try so new traders can also use the free trial to test the platform and play around with its various features.
- 3Commas assists newbie traders in learning more about the market and may benefit as well
- Portfolio creation, tracking, and social trading features are suitable for investors
- 3Commas is best suited for aspiring bot traders
- Suitable for start-up
- Exchangers who trade via Binance
If you are an experienced person, you will find it very easy to use. But if you are a new investor, take the time to learn before you actually invest. You should get independent financial advice from an expert to gain market analysis skills.
3Commas Pros and Cons
Pros
- Trade without money. Strategies can be tested in a safe and risk-free environment.
- Create portfolios based on any coin allocation and rebalance your account with a single click.
- Profit from market movements that are unexpected. Coins can be sold and repurchased.
- Track your portfolio and analyze your daily PnL by adding several accounts.
Cons
- 3Commas does have a mobile app and occasionally it can lag with price updates and a couple of features within it.
- There is a trade bot commission on lower tiers.
- The onboarding process can belong.
- Hard to customize bots without TradingView.
3Commas User Experience
It offers everything a novice or experienced trader needs. 3Commas has a variety of trading bots and instruments. Traders can exchange on all major crypto exchanges like Binance, FTX, ByBit, Bittrex, and many more. It has an opportunity to feel financial freedom.
This is the app I trust to use to track my cryptocurrencies. Even if you just want to manage your portfolio, do automatic rebalancing or take advantage of the trailing, 3Commas is a great solution. Not only eye-catching interface, but 3Commas also has a lot of trading tools. However, sometimes it has software errors.
Traders had a great experience with 3Commas and it turned out to be profitable for them. If they decide to engage in automated trading, the bot will execute orders to buy and sell cryptocurrencies on their behalf. For example, if you want to program your trading bot so that it buys when the asset hits $9,000 on Binance and then sells it when the coin hits $13,000, you can do this easily through 3Commas. So how many safety trades you will get? Well, this cryptocurrency trading platform offers an initial trade price for better efficiency.
3Commas vs Competitors
1. 3Commas vs Crypto.com
Both 3Commas and Crypto.com are very popular and trusted by users. However, 3Commas supports 23 on different exchanges. Meanwhile the number of Cryptohoppers currently supporting less than 10 exchanges.
Moreover, Crypto.com limits withdrawals and lacks some coins in some countries. This platform is still some interface errors from time to time.
2. 3Commas vs Binance
Both 3Commas and Binance exchange platforms require setting up two-factor authentication (2FA) once they sign up for an account. On the one hand, 3Commas currently supports 23 exchanges, including Binance, and offers different subscription plans to use their trading bots and tools.
On the other hand, 3Commas has more security and preferred exchange than Binance. Binance is one of the largest crypto exchanges in the world, so being targeted by hackers is completely inevitable. Up to this point, Binance has suffered a total of 3 attacks.
3. 3Commas vs Kraken
Both exchanges have high-security features. However, any Kraken exchange review will say that the platform may not be suitable for beginners. It includes a lot of features for a cryptocurrency exchange. So it will not be too suitable if you are just looking to get started.
Meanwhile, 3Commas stands out for being relatively affordable and relatively easy to use. Trying to understand how to use Kraken is likely to be more work than it's worth because easier-to-use platforms are available.
Conclusion: Is 3Commas really the Best for All Skill Levels?
3Commas are made for traders of any level. If you're a more experienced trader and you want to customize your own trading conditions, you can do this easily with buying and selling orders.
On the contrary, you are a newbie then you can dashboard on phone and laptop computers. Therefore, you are able to create, analyze and review crypto portfolios and monitor the most effective performing portfolios created by other users.
The user interface on 3Commas is very easy to use, even for beginners or those who have been trading for a long time.
Besides this, The control panel is also well laid out and a top panel is a great tool allowing users to quickly select their preferred features. The overall interface of the floor has eye-catching and impressive colors but still retains a certain simplicity.
The toolbars, clear descriptions help users easily move to the position they need. If you are a beginner at virtual currency and invest in it, the 3Commas exchange is a good choice for your start. The manual trading feature offers multiple like execute safety trades and active safety trades within a safety trade size.
3Commas FAQs
Is 3Commas Safe and Legit?
3Commas is completely safety trades because most review sites have it at the top of the list with nearly perfect scores and with glowing comments about reputation. The 3Commas platform is securely encrypted and also has a well-defined data protection policy.
It's also legit to use 3Commas is a perfectly secured and regulated financial platform that makes it legit. This platform always gives a sense of security to customers.
Is 3Commas BOT profitable?
Some of its prominent aspects include smart trading, trading strategies, automated trading bots, stopping loss, and taking profit orders, along with several important tools implemented to increase bot efficiency and trader's income.
Can I use 3Commas with Coinbase?
3Commas will operate with Coinbase. You can take advantage to buy Coinbase at the most profitable price. If you are an experienced person, you will find it very easy to use. But if you are a new investor, take the time to learn before you actually invest. You should get independent financial advice from an expert to gain market analysis skills.
