3Commas promises to make your crypto trading easier through the provision of automated bots. Assimilating with a majority of exchanges, the platform offers traders different functions, devoid of risks or requiring you to move your assets. So far, the system consists of 220,000+ users spread across the globe, and boasts of having 19k+ members on Telegram.
3Commas: what is it?
3Commas is an automated crypto trading bot that makes it possible for users to track numerous orders concurrently across multiple exchanges. It supplies you with the tools that can help you create your own strategies. But if you are not confident about setting up your own algorithms yet, the app permits you to copy the presets of seasoned traders.
Background of 3Commas
The bot was founded back in 2017 by three individuals, namely Yuriy Sorokin, Mike Goryunov, and Egor Razumovskii. They built this software to assist traders to stabilize their incomes in the crypto market. The company is headquartered in Estonia, Russia, but it has a representative office in Vancouver, Canada.
Official 3Commas website
How does it help to make money?
3Commas comprises a feature-rich interface and several automated bots meant to help users gain profits from the crypto market. In essence, the platform implements buy/sell orders for you using different strategies like the grid, cost averaging, scalping, option trading, etc. The app also allows you to track and copy the strategies of other successful traders so as to get the most out of the market.
How easy to use is it?
The crypto bot is straightforward and easy to use. The creators have condensed the usually complicated crypto info into something simple. You can comprehend how to use the tools to create your bots, set them up, and use them in trading. The 3Commas mobile app makes your user-experience even simpler. It will allow you to track your strategy stats, launch bots, and manage your positions anywhere at the touch of a button.
What about the privacy and security of 3Commas?
3Commas doesn’t store your assets and since your credentials are inaccessible to the devs, be rest assured that they cannot make any withdrawals. Most importantly, the software only intermingles with exchanges utilizing API keys, which means no one else can access your coins apart from you. In addition, third party vendors that utilize the Ethereum network are involved in keeping your data safe.
What is the profitability of 3Commas?
The system reportedly assists users to make profits in all market conditions by ensuring that it provides trading strategies that cover each market factor. It happens that the platform’s bots are really efficient in decreasing average acquisition expenses, directly augmenting your profit margins from different orders. However, the amount of profit made will depend on several factors, including your trading experience, proficiency in creating bots, market behavior, trading strategy, etc.
What exchanges does it support?
All the automated tools available on this platform are supported on eighteen cryptocurrency exchanges. Here is the list of the exchanges:
- Coinbase Pro
- Binance US
How is customer service?
The vendor has provided multiple support options that you can use to find answers to any questions you might have about the service. We have a live chat window that helps you interact with the team in real time, an email address, and a YouTube page. You can also join the Reddit, Telegram, or Discord community and get to interact with other users. Here, you can pose your questions and receive the assistance you need. Last but not least, a help center is present to provide advice and answers to traders through informative articles.
What are the pros and cons of trading with 3Commas?
- Many customer support options
- A variety of trading strategies to choose from
- Offers many exchanges
- Might be complicated for newbies
Is 3Commas right for you?
This platform is the right choice for you if you like working with customized strategies.
3Commas is an easy-to-use platform that provides traders with a wide array of strategies to work with. This way, they can choose the one that will generate the best outcomes for them. The availability of multiple exchanges also permits you to work with a variety of assets. Even then, some new traders with no or little technical skills may experience some difficulties navigating the bot.