3Commas is a trading platform for cryptocurrency investors to invest with minimal risks and more profits. The platform provides users with preset bots that can be customized to trade in the cryptocurrency market 24/7 creating more chances of profit for you. These bots are feature-rich which assists you in trading even when you are new to trading.
Yuriy Sorokin founded 3Commas in 2017. It is located in Toronto, Ontario.
3Commas is one of the leading trading bots in the market with one of the finest goodwill and reputation in the market. The reason people prefer 3Commas is its trading bots that are designed to work in any case of the trading market. 3Commas provides features like Single pair bots, Multi pair bots, and fast-speed trading.
It is convenient even for a new trader to trade using 3Commas, the bots come with preset functions that need no customized coding. Yet, they are good enough to get your profits in the market.
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Types of Bots in 3Commas
DCA Bots
DCA is the abbreviation of Dollar-Cost Averaging. And DCA bots are the ones that are designed to perform on the strategy of DCA. Dollar-Cost Averaging is a trading strategy that minimizes the risk of losses by investing at preset intervals instead of investing the total amount at once.
If you invest the entire amount at once, you are revealed to the danger of losses because there are chances that the prices may fall which will leave you no other option except to either hold it for a longer period of time or sell it at a loss.
Whereas, if you’ll divide your total investment into small portions and invest those small portions at regular intervals. There are chances of getting more profit by receiving fewer losses.
To understand this better, assume you have 5000$ as your total investment, now you divide this 5000$ into 5 parts of 1000$ each, and invest 1000$ with an interval of 30 days for each portion for five months.
The prices while each entry was: 100$, 90$, 80$, 70$ and 95$. This will result in an average of 85.50$
Whereas, if you would have invested your entire amount at once you would have paid 100$. This saves you 15$ and also reduces the chance of risks.
These bots are programmed to follow this strategy where they divide your investments into small portions and keep trading them at regular intervals. The intervals can be customized manually by you.
There are 2 types of DCA bots in 3Commas
- Gordon Bot
- Advanced Bot
Gordon Bot is a preset bot that trades, you can select the currency you want to trade-in and the maximum amount you want to trade with.
Advanced Bot contains more customizable features that you can change according to your needs and preferences.
GRID Bots
Grid trading bots are designed to follow the grid strategy of trading. Where the bot will place a series of purchases and sell orders within the selected price range. When the selling is fully executed the bot automatically places another order.
You can manually select the prices at which the bot is supposed to place orders and the price at which the bot is supposed to sell. Then the bot will analyze and will place and sell orders as soon as the prices come within the specified range.
The bot will automatically buy when it will see a little hike in the prices, to avoid buying when the prices rise even more and will sell as soon as the prices start to fall to avoid selling them at loss and thereby making the maximum profit out of trading.
Options Bots
Option trading bots assist you in market trading strategies. It adapts itself to the required conditions of either the Bullish or Bearish market. Such bots perform trading according to the given strategies automatically.
These bots are programmed to call and put automatically to minimize the chances of losses in different market conditions. The options trading instead of moving in just one direction moves in both directions, so that if the prices fall you get profit, and even when prices rise you are still in profit. This hedges your position.
The options bots are in beta mode, and only Deribit is a cryptocurrency exchange platform that offers options trading ability.
3Commas allows its users to earn profit irrespective of what market conditions are prevailing :
During Bear market conditions, use DCA bots for short trading that will sell the tokens at the current price and will buy them back at a lower price.
During Bullish market conditions, use DCA long bots that will buy at lower prices and will sell when prices hike up giving more profits.
In the Sideways market, use Grid bots that will buy cheaper tokens and will sell them when the prices rise.
How to use 3Commas DCA bots
- Choose a bot
You can choose between Gordon bot and automated bots, there preset bots so if you don’t know where to start from you select one of the presets that suits you the best.
There are bots with pre-customized DCA long strategy, short strategy and QFL signal. You can select anyone.
- Connect an exchange
Connect your bot with an exchange platform like Coinbase, Binance or any other exchange platform that you use. Generate your API keys and then paste those API keys into your bot. So, your bot will have access to your authentication and can place trades in your favor.
- Apply bot configuration
Lastly, you need to select the configuration for your bot that includes, the currency you want to trade-in. Your selling price, your preferred buying price, how much money you want to use, and all the other information.
Then you can start your bot and your bot will work according to your configurations. You can check your stats and can later change the configurations to your liking.
How to use 3Commas Grid bots
- Register
Register to get access to your Grid bot.
- Connect your exchange
Connect your bot through API keys with an exchange platform you use.
- Choose AI/Manual mode for the bot
Choose the mode of bot, if you want to manually set up the grid you can go for manual mode and if you select AI, then the bot will analyze the market and create a grid.
Run your bot and your bot will buy and sell according to the grid it has created.
Supported Exchanges by 3Commas Bot are listed below
- Binance
- FTX
- OKX
- KuCoin
- Coinbase Pro
- Binance US
- BitMEX
- Bitfinex
- Bitstamp
- Bittrex
- Crypto.com
- Deribit (only for options trading)
- FTX US
- Gate.io
- Gemini
- Huobi
- Kraken
- Poloniex
3Commas Plans and Pricing
3Commas Crypto trading bot offers 4 plans, and the users can select any one they prefer.
3Commas Free Plan
Includes:
- One Grid bot
- One Options bot
- One DCA bot
- One Active Smart Trade
- No Paper Trading
- Unlimited Scalper Terminal
Price – 0.00$ per month
3Commas Starter Plan
Includes:
- One Grid bot
- One Options bot
- One DCA bot
- Unlimited Active Smart Trade
- Paper Trading
- Unlimited Scalper Terminal
Price – 14.5$ per month
3Commas Advanced Plan
Includes:
- One Grid bot
- One Options bot
- Unlimited DCA bots
- Unlimited Active Smart Trade
- Paper Trading
- Unlimited Scalper Terminal
Price – 24.5$ per month
3Commas Pro Plan
Includes:
- Unlimited Grid bots
- Unlimited Options bots
- Unlimited DCA bots
- Unlimited Active Smart Trade
- Paper Trading
- Unlimited Scalper Terminal
Price – 49.5$ per month
3Commas provides the most intelligent, programmed bots that have the ability to help you in your journey of trading. These bots are trained to outstand any prevailing market conditions and get a profit. Where it is impossible for one to trade all day, these bots can tirelessly trade for you on your behalf. Not only this, but the bots allow you full access to their customization which you can change according to your preferences. If you are new to trading or even if you are trading for quite a time, these bots will help you to create more profits.
