The cryptocurrency world is slowly recovering from its downfall in 2018. Consequently, the number of ways one can make money in this space has also increased. Several amazing trading opportunities arise daily.
Cryptocurrency trading bots have made it extremely easy to increase the odds of success while trading in this market. One such bot is the 3Commas trading bot. This is a feature-loaded bot that will certainly help you in your crypto journey.
To further understand the features provided by the 3Commas bot, read this in-depth 3Commas review.
What is 3Commas?
3Commas is a project whose aim is to provide users with the right tools and facilitate through the process of trading in the crypto world. The whole idea behind this project was to increase the overall efficiency and effectiveness of crypto trading.
While the 3Commas platform offers a bunch of tools that make the life of a trader a whole lot easier, the star of the platform is the 3Commas bot. This is a trading bot that can be configured to your liking and one that can help you make winning trades.
As the crypto market never sleeps, there are numerous trading opportunities even during the night. A trading bot like 3Commas bot will be able to operate even when you are asleep. Thus, you will not miss out on any trading opportunities.
There are numerous trading bots out there. Each bot has its own set of unique features. After going through this 3Commas review, you will be clear why as many as 33,000 active users prefer the 3Commas bot over the other trading bots. Additionally, the 3Commas also handles a whopping $10 Million worth of cryptocurrency every day.
Available in 12 different cryptocurrency exchanges, some of the exchanges supported by the 3Commas bot are Binance, KuCoin, Huboi, and Poloniex. With many features that help facilitate the whole process of trading, 3Commas bot helps its users to maximize their gains and minimize any losses.
3Commas Review 2020: Features of 3Commas
With so many cryptocurrency trading bots out there, you might feel that the 3Commas bot is no different. However, it has been one of the very few bots that has managed to acquire over 33,000 users in such a small duration of time. Let us now have a look at the features that made this bot so lovable.
1- Simple design
he entire 3Commas bot was designed keeping its users in mind. The whole platform is very easy to access and use. Users can get started right after they choose a subscription of their choice.
The 3Commas bot runs entirely online. Hence, users need not have to worry about setting up the bot to run on their local machines. This also means that the bot will execute trades even when your computer is off.
All you need to do is provide the bot with your trading account’s API key, and the bot will start executing trades whenever an opportunity arises.
2- Keep Track of Your Cryptocurrency Portfolio
Apart from facilitating through the whole process of trading, the bot also helps users keep track of their cryptocurrency portfolio. Every trade that is executed by the bot is recorded and is available on the dashboard of your 3Commas account.
You can analyze the profits and the losses of the resultant trades. This will help you optimize the configurations of the bot to maximize your earnings. Additionally, you need not have to maintain a separate excel sheet for this purpose anymore as the 3Commas bot does this work for you.
3- Trailing Stop Loss
This is a feature that sets the 3Commas bot apart from the rest of the trading bots out there. Just like on most other bots, you will be able to set a stop loss and take profit margin on the 3Commas bot.
All bots execute a trade when the conditions meet the criteria. Even the 3Commas bot will execute your trade. However, in addition to executing the trade, the 3Commas bot also starts trailing the price of that particular cryptocurrency. If the price continues to rise, then the bot automatically buys back into the market and sell at a higher margin of profit.
This human like behavior makes the 3Commas trading bot the smartest trading terminal on the market.
4- Trailing Take Profit
This is a feature similar to the trailing stop loss. However, unlike selling your cryptocurrency at a pre-meditated price, the 3Commas bot begins to trail the price of the particular cryptocurrency.
If the price continues to increase, then the bot does not sell your position at a lower profit rate. Instead, you will end up gaining a larger profit than the set profit limit. This is what makes this bot very special.
Not only do users stop losses, but they can also increase the overall gain by doing nothing as the 3Commas bot takes care of all events for the user.
5- Different Options in bot Configuration
The 3Commas bot offer various configurations that will certainly help you in your crypto trading journey throughout the year. No matter the conditions in the trading market, 3Commas has a setting for you.
During the crypto bull run, users can choose the long bot configuration and maximize the profits. Further, during the bear markets, users can choose the short bot configuration and minimize the loss and maximize the overall profit.
3Commas also provides a great configuration called the QFL bot to maximize the gains in a stable crypto market as well. Thus, making the 3Commas trading bot a tool that can be used all year long.
If you also have a certain list of coins that you would want to trade, then you can set up a composite bot to trade only the coins on your list. This eradicates the need to set up multiple trading bots to trade multiple cryptocurrencies.
All these features make the 3Commas bot a highly used cryptocurrency trading bot out there.
Can We Make Money with 3Commas?
So far in this 3Commas review, we have understood the working of the bot and the various features that the 3Commas bot has to offer. Let us now answer the big elephant in the room. Can you make money with 3Commas?
The crypto market offers a plethora of money-making options to every one of its users. This is probably the only market in which users can make money even during a bear market. Trading cryptocurrencies allows users to make money regardless of market conditions.
However, things can go south very soon if you are new, and don’t know much about the crypto trading industry. This is where bots such as the 3Commas bot come in very handy. The best part about trading using the 3Commas bot is that you can get started with very little knowledge about cryptocurrency.
Unlike the other trading bots out there, 3Commas bot is an intelligent platform that is capable of maximizing the profits and minimizing the overall loss, even though you have set a certain limit at the beginning.
Additionally, the bot runs on the cloud. This means that, just like the crypto market, the 3Commas trading bot never sleeps. Thus, no trading opportunity is missed even during the night.
By allowing the bot to trade all day long, the number of amazing trading opportunities that one can encounter is very high. Thus, allowing users to make money by trading during such opportunities. Additionally, because of the trailing feature, not only will you be able to make money by using the 3Commas bot, but you will also be able to maximize your profits.
The best part about all this is that you will be able to see and analyze the exact profit that you make from the bot. You will be able to analyze this data and customize your bots setting, to earn even more.
Hence, you can rest assured that you will not only receive your subscription money back, but also earn a whole lot more at the same time.
Advantages of 3Commas
1- A complete trading facilitator: The highlight of this 3Commas review is surely the intelligent 3Commas bot. However, the 3Commas platform also offers a plethora of tools that facilitates the whole process of trading cryptocurrency.
The range of tools that are provided just for analyzing cryptocurrency surely makes the life of a trader a whole lot easier. Users can analyze their profits by generating graphs of all the trades made by the bot.
The platform also provides users with a tool to keep track of their current cryptocurrency portfolio. This means that users would no longer need multiple tools just to keep track of all the trades and profits that they made from the trades.
Apart from helping users to keep track of their cryptocurrency profits, these tools can also be used to analyze the results of changing the configuration of the bot. Thus, helping users to create the ultimate bot of their liking.
2- Maximize profits and minimize losses: The 3Commas bot offers a feature that is unique to only this bot. Just like on any other crypto trading bot, you will be able to set stop loss and take profit levels on the 3Commas bot as well.
Whenever the price of the cryptocurrency reaches this level, a trade is executed. This does not happen on the 3Commas bot. The 3Commas bot trails the price even after it reaches the limit that has been set by the user.
If the price of the cryptocurrency continues to increase, then the bot sells your position at the highest point of profit. If the price keeps decreasing, the bot sells the cryptocurrency before the limit and buys back in if the price starts to increase again.
With these human like features, the bot can be considered as an intelligent platform that can make the right decisions. As the decisions are made by taking the market conditions as well as the pre-set configurations, this bot can be trusted to be an alternative for manual trading.
3- Great customer support service: No matter what the product is, great customer support is needed to keep the customers satisfied. 3Commas has done exactly that. With the support offered in both English and Russian languages, 3Commas can solve any problems that their customers might face.
Additionally, the customer care service is offered 24/7. Thus, making it a very pleasing experience for all its users.
4- Free trial and the free version: The 3Commas bot is a premium bot which means that you would need to pay for the subscription. However, they do offer a seven-day trial as well as a free version of the bot that can be used by anyone.
In order to receive the free version of the bot without any restrictions, you will need to create an account on the Huboi cryptocurrency exchange platform. As Huboi is one of the most active cryptocurrency exchanges, you will not be disappointed with the trading activity on that platform.
You can also choose to use the 3Commas bot for free on any other supported exchanges as well. However, there is a restriction that will not allow you to trade more than $750 worth of cryptocurrency on these platforms. So, if you are looking for a new trading bot to use, then give 3Commas bot a try.
5- Learning opportunity: The 3Commas bot also provides users with a great learning opportunity. Users will be able to analyze the market conditions as well as the trades that the bot made in such conditions. This will help you to understand the results of any future trades that you make.
Additionally, the huge community of 3Commas bot users support each other and help each other understand the crypto trading market better. Thus, providing users with a great chance to learn without having to undergo any losses during this period.
Disadvantages of 3Commas
1- Subscription model: Almost all the crypto trading bots out there are available on a subscription basis. 3Commas is no different. However, the price charged for the pro version of the bot is a little too high.
This can hurt your pocket during times of the crypto bear market. It would be extremely difficult to even break during such times.
Additionally, the features that are offered by the pro subscription is simply irresistible. So, if the price of subscription was lowered, then the bot would have been able to bring in several users onto the platform.
3Commas Bot Pricing Plans
As discussed earlier, the 3Commas bot is not free and you will need to pay a subscription fee to use the bot. If you just entered the world of crypto and wish to try out this trading bot, then you need to check out the Junior subscription of the bot.
This subscription is free to use and you are provided with all the features that have been discussed in this 3Commas review. However, this subscription model does come with some major limitations.
To use this subscription on any of the supported exchanges, the maximum deposit limit is set to $750. This might be right for a beginner. However, for an experienced trader, this amount of cryptocurrency means nothing.
You can also use the Junior plan without any limitations if you decide to use the Huboi cryptocurrency exchange. Thus, solving the problem of the pricey subscription model of the 3Commas bot.
You can also opt for the advanced subscription plan that is available for the bot. This plan provides users with simple trading bots that you can customize as well as personalized signals Tradingview. Unlike the Junior subscription model, this can be used on any of the supported exchanges without any limit. This subscription plan would set you back by $35 every month.
There is another subscription plan that is provided by the 3Commas bot. This is called the Pro plan. This offers all the features that are available on the 3Commans bot without any limits. Additionally, you also get a tool to easily manage your entire portfolio. Thus, making it a great subscription plan to choose. However, as there are no limits, this is the most expensive subscription plan and will set you back by $75 every month.
All the subscription plans that are offered by the 3Commas bot come with a 7 day trial period that you can use to decide which subscription plan would suit you the most.
3Commas Bitcoin Bot: The Best in the Town?
Trading bots have certainly been very popular in the crypto world. Not only do they deter people from making mistakes while trading, but they will also capitalize on any trading opportunity that comes up during the day. As the 3Commas bot is hosted on the cloud, the bot does not miss out on any trading opportunities even during the night.
Additionally, with a great portfolio management tool as well as a great report on the trades made, the bot can offer its users the best experience while trading in the crypto world. So, if you are on the look for a new trading bot to do all the trading for you, then you should definitely give the 3Commas bot a try.