In this article, I will discuss 3commas, one of the best crypto exchanges that provides sufficient instruments to automate and enhance your trading practices.
There are trading bots, a Smart Trade, and several exchanges that assist the user in portfolio management, making 3commas quite attractive to crypto traders.
About 3commas
3commas is a leading developer of crypto trading software that offers AI crypto trading bots without coding. From Dollar-Cost Averaging (DCA) to GRID and the Signal Bot with TradingView integration, we make professional-level trading accessible to all.
3Commas offers an all-in-one solution for managing crypto assets across significant exchanges, offering reliable trade execution, portfolio analytics, and more.
With spot, margin, and options markets available, our software provides a comprehensive trading experience.
At 3Commas, commitment revolves around providing customers an undeniable advantage in the crypto markets, ensuring unmatched value in every trade.
3commas Basic Overview
| Platform Name | 3commas |
| Year of Launch | 2017 |
| Exchange integration | 20+ |
| Bonus | Seven day trial of the Pro plan |
| Cloudbase | Yes |
| Pricing | Free, $37/month, $59/month |
| Mobile app | Yes |
Getting started on 3commas
Sign Up
To sign up, go to the 3commas website and register. You will have to enter your email and choose a password.
Connect Exchanges
After you log in, you may add your cryptocurrency exchanges, which will be connected to 3commas.
This would allow the platform to carry out trades on your behalf.
To do this, you must create API keys from your exchange account and input them in 3commas.
Explore Tools
Noticeable features of the website include trading bots, portfolio tools, trading automation and more.
There are many ready-made trading bots and other strategies in 3commas that you can edit to your liking.
Set Up Bots
Create your trading bots by choosing trading pairs and setting the stop loss take profit levels, amongst other things.
You have various strategies, such as Grid Trading and DCA (Dollar-Cost Averaging).
Monitor and Adjust
Trade and performance can be done through the dashboard provided at 3commas.
Make the necessary changes to the strategies and other settings to avoid wasting time and optimize the expected outcome.
3commas Price
| Free | $0/month |
| Pro | $37/month |
| Expert | $59/month |
| Сustom Plan | Extra Limits |
How Does 3commas Work?
3Commas is a complete trading tool with several exchanges for user convenience.
According to the website, 3Commas makes it possible for traders to integrate with devices having user accounts by utilising APIs to channel all transactions through one system.
The given platform best carries out the aspects of trading strategies execution, which reduces the o turning of the market over, and it is relatively more straightforward for the traders to maximize from the market during such time.
3commas has connections with exchanges like Binance, Coinbase, and Kraken, where every user is functioning at one account on the web platform, and every order is created.
Customers attach their 3Commas accounts to the exchange accounts, and 3Commas performs operations using API technology according to certain conditions.
This means that it is easier to manage portfolios on multiple exchanges and take advantage of the advantages presented by each one of the exchanges.
The user-friendliness of 3Commas helped overcome the new users’ hesitation efficiently due to the presentable dashboard with real-time market information, trade management, and portfolio analytics. This helps the stakeholders avoid being blindsided by the market.
Pros and Cons of 3commas
Pros
Automation: 3commas has several advanced trading bots available, such as Grid Trading, DCA (Dollar cost Averaging, andnd Smart Tra,de, which take over trading systems and minimize the manual hours dedicated to the activity.
Multi-Exchange Support: With the integration of social network exchanges like Binance, CoinBase, and Kraken, it is easy to perform trades and manage a portfolio from different sites through one interface.
Customizable Strategies: Identify the trading strategy you want to use and create one for yourself. You can provide trade settings for stop-loss and take利润 that you feel are appropriate for your level of trading.
User-Friendly Interface: The dashboard consists of a market overview, tools for managing open and closed trades, and reports on trade performance and other metrics, which makes the service user-friendly.
Portfolio Management: The interface allows management tools to be used for accounting and tracking the movement of cryptocurrencies from initial investment until they grow through trading.
Cons
Learning Curve: Despite its power, 3commas can make people feel lost because of the many features and customization options available, so it takes time to learn how to use the site properly.
Fees: Some of the advanced features on 3commas are subscription-based based and this could be a concern to users who want to use every tool on the platform without having to pay extra fees.
API Dependency: The application operates within users’ accounts to place orders only via API integration. If the API doesn’t work correctly or any exchanges don’t function properly, one can expect troubles in trade.
Limited exchange integration: As three commas support most large exchanges, it lacks some of the low volume or obscure exchange integrations, which limits the users who trade on those platforms.
Security Risks: As with any platform that manages sensitive information, such as API keys, there is a definite chance of security threats. It is upon the users to take precautions regarding API, such as preventing API abuse through proper privacy of your API keys and accounts.
Is 3commas Safe?
API Key Usage
3Commas utilizes API keys to connect with cryptocurrency exchange platforms, which means that the website cannot transfer any coins that are staying within the website.
This protects against unwanted exits; therefore, such a key allows only 3Commas to perform transaction-related actions.
This means that the trading API keys do not even allow 3Commas to take money or withdraw which prevents a person’s assets from any risks.
Fast Connect Feature
The ‘Fast Connect’ feature improves the link between 3Commas and connected exchanges, making it a safer and more practical connection.
This feature, which adds data integrity to the service, limits the risk of data breaches.
IP Allowlisting
Users can use IP allowlisting to limit who can log into their 3Commas account by specifying the IP addresses that may do so.
This helps to restrict intruders to unfamiliar locations and enhances user verification of their logs by settings concerning their accounts.
Regular Updates and Features
Regular updates of its trading bots and platform to improve the security and performance of 3Commas.
Among scheduled upgrades to be made is the provision of annotation to bots and the establishment of a single stop window that would issue notifications for ease of control.
Such continuities in upgrading the platform are aimed at improving the system security further and patching up any holes that the previous upgrades may leave.
3commas Features
Trading Bots
3Commas has an array of automated Market making, Grid Trading and Dollar Cost Averaging (DCA) trading bots.
Efficient, as these bots adhere to previously set instructions and do not require any human input once the instructions are set, users can leverage the bot’s capabilities in executing strategies through the market.
Smart Trade Terminal
This function cuts losses and maximizes profits via the proper use of trade management by enabling the user to place much more advanced orders such as stop loss, take profit, trailing stop and others while managing the open positions with Rade 1.60ок No In this feature, instantly helps to insert other advanced orders
Portfolio Management
3Commas includes features such as portfolio tracking and asset management and actions of all portfolio holders’ activities, such as reinvestment, etc.
Portfolio performance, composition, and reallocation decision-making trends are analyzed from the view of the investing effect in markets and instruments.
Trading Signals
Trading signals can be Russell’s -3commas, which provides a scope for trading alerts and signals depending on a particular market activity and various indications.
It assists users and aids in changing parameters in the systems and other applicable ones that help).
Marketplace
The 3commas Marketplace provides trading bots, strategies, and signals that other users and experts have designed.
Through this, traders can try new strategies and shift to them without creating new ones.
Risk Management Tools
The platform comprises several risk management tools, including stop loss and take profit settings to aid the users in decreasing risks and even losing proceeds.
Customizable Trading Strategies
Using different parameters, including trading pairs, entry and exit points and safety orders, among others, users may be able to create and adapt various trades according to how they best suit their needs.
Analytics and Reporting
3commas allows the users detailed analytics and reporting tools which allow the users to perform their performance metrics, examine trading farming and updating of strategies by the user based on both past performance and live market performance.
What Platforms Do You Need for 3Commas?
Looking to offer users a level of multi-threading, 3Commas renders services over various exchanges that will allow the traders to perform its features on varying platforms.
Below is a description of where and how you can utilize 3Commas within different geographical regions:
List of Supported Integrations
3Commas integrated with the most advanced cryptocurrency exchanges. This wide-ranging support includes the following:
Restrictions and Considerations
Even though 3Commas supports a wide range of exchanges, here are some relevant facts worth mentioning:
Exchange-Specific Features: Some parts of 3Commas may include additional features for staff members of particular exchanges owing to particular trading options offered or API functionalist of the exchange.
API Limitations: Most of the 3Commas’ tools show their effectiveness illegitimately, depending on the limitations placed by the exchange APIs.
Regional Restrictions: There could be restrictions in terms of users’ geography, more so if the specific country is under sanction or traders are being told on very tough rules in respect of crypto assets.
Subscription Plan: Some 3Commas tools and features are available to users only while they hold a paid subscription.
Security Protocols: 3Commas has a provision dedicated to security; however, it is the responsibility of the users to follow the best way of managing API keys and being secure.
Customer Support
Considering the fact that crypto currency trading comes with its setbacks, 3Commas manages to make its users’ trading experience less cumbersome by providing various support systems.
Here’s a summary of the customer support that the website provides:
Support Channels
Direct Support: 3Commas direct customer support is available through the platform and users can engage with the support team either via Live Chat or by raising a ticket.
Email: This option enables lazy users to want to write to their supports via 3Commas even when there may not be any urgency to the issues.
Mobile App: Along with trading features, the 3Commas mobile application also holds support facilities, helping users to experience management of the concerns and information pertaining their support issues back in the application.
Community and Social Media
Online Communities: In addition to the above, 3Commas has also made use of discussion boards that users seek assistance and even provide solutions. Experienced users usually offer utils that are sourced from practical use.
Social Media: Some users do not. The platform also has operative pages on social networks, where constant short overviews, tips and other additional mechanisms of user support are provided.
Knowledge Base and Educational Resources
FAQs and Guides: As part of their platform, 3Commas comes out with enriched knowledge base answers, geared worded articles and even where its use and trading may have intensified.
Video Tutorials: For those who are basically visual learners, 3Commas provides the option of video tutorials that makes it easier to comprehend the pivotal tools and trading strategies.
Other Customer Support Services
Technical Support: Custom-tailored support may be provided regarding the bots’ workings and issues regarding the incorporation of multicharts or glitches in the software.
Multilingual Support: As 3Commas has traders from different parts of the world, the support is also provided in various languages.
Billing and Account Management: Complete assistance for any inquiry relating to billing, subscription plans, and payment methods including cryptocurrencies can be availed as well.
3Commas Alternative
CryptoHopper
CryptoHopper is known to be one of the leading trading bot platforms that comes with a great deal of exchange support and diverse automated features.
These include off-the-shelf and customizable bots, as well as backtesting and strategy designing, especially appreciated by experienced traders who want to create their own trading conditions.
In addition, users of CryptoHopper can harness a marketplace for strategies and signals provided by other users.
TradeSanta
Designed mainly for novices, TradeSanta is a straightforward trading bot platform.
It is integrated with the popular exchanges including Binance, Huobi and HitBTC and include trading bot strategies like Grid and DCA.
With a simple graphical user interface, TradeSanta is relatively simple and straightforward skill wise, which makes it perfect for beginners utilizing trading bots.
Shrimpy
Social trading and portfolio management are the primary services called Shrimpy.
It helps users optimise portfolios across various exchanges using currencies, including exchanging for successful traders’ strategies.
For users desiring to manage their portfolios without additional effort but using market expert opinion, Shrimpy is perfect.
Bitsgap
Bitsgap is a version that interconnects the user’s intelligent trading terminal with auto traders.
In addition to these automated tools, it has an arbitrage module, a demo account to practice strategy test, and many analytical tools for novice and experienced traders.’
Zignaly
Zignaly is a robust trading platform offering signal provision and automated trading functionality.
Major exchanges connect and allow social trading of copying other traders.
Zignaly employs a rather interesting approach, which is called profit sharing – fees are charged only when there is profit.
Conclusion
To summarize, it can be said that 3commas meets all requirements for automated and advanced trading with a variety of features introduced.
To vividly illustrate my standpoint, 3commas aiming both novices and seasoned traders who wish to automate their trading exploitation harness various tools such as trading bots, a Smart Trade terminal, and support for multiple exchanges.
At the same time, 3commas offers a comprehensive solution, which is pity to spoil for the full freedom of its customization.
To justify for example, leave aside the potential benefits of using 3commas, which in its turns has various fees and a certain learning curve.
All in 3commas also manages to appeal those who would like to trade through their system by utilizing automated trading and more efficiently handle their assets.
