3commas is a cryptocurrency trading platform that seeks to simplify and enhance the process of trading cryptocurrencies. Its ultimate goal is to minimize trader’s risks and limit exposure to losses while maximizing profits when trading various cryptocurrencies.
Understanding 3commas
The platform comes with automated trading bots that help traders of all experience, record consistent gains by following and copying actions of other successful traders. In addition, the platform allows users to engage in smart trading and customize trading strategies in the burgeoning marketplace.
The crypto trading bot can be integrated into a number of devices and exchanges to enhance trading of cryptocurrencies. Over 30,000 traders are currently using the bot to trade over $10 million worth of cryptocurrencies in a day.
Just like Growlonix another popular trading bot, 3commas allows traders to place trades in multiple exchanges ranging from Coinbase to GDA as well as Binance, Bitfinex, and Huobi all from a single window.
3commas Features
Technology
3commas leverages advanced technology to enable automated trading in the cryptocurrency marketplace. Traders can leverage automated trading in various exchanges through various devices. In addition, traders can access their trading dashboard on a desktop or laptop. Availability of mobile apps for both Android and iOS devices makes it possible to keep track of trades and trading activity while on the go.
Exchange Integration
Being a cryptocurrency trading bot, 3commas offers support to various cryptocurrency exchanges. Some of the exchanges supported include Bittrex, Binance Huobi, Yobit, Poloniex GDAX, among others. Conversely, the platform makes it possible for traders to access the cryptocurrency market and automate their trading activities through various cryptocurrency exchanges.
Trading Tools
In addition to enabling automated trading, 3commas provides access to a range of tools for enhancing fundamental and technical analysis in the cryptocurrency market. The tools allow traders to create analyze and back test crypto portfolios.
In addition, traders can keep track of some of the best performing crypto portfolios and copy the actions of other successful traders in the space. The ability to engage in social trading and share various trading ideas is also very much possible.
User-Interface
3commas utilizes a user-friendly web-based platform with easy to use and intuitive user interface. The platform features a wide range of function as well as detailed analytics for carrying out detailed analysis of the burgeoning cryptocurrency market.
Customer Support
3commas offers customer service designed to address all the issues and queries that traders might have. The Help Center operates 24/7 and can be accessed via the official website as well as through social networking apps such as Telegram, Facebook, Twitter, and Facebook.
How Does 3commas Work?
3commas comes with a cryptocurrency paper trading feature that allows traders to back test the trading bot as well as their strategies using virtual money. The feature is designed to give traders a head start and learn everything needed to launch a successful career as a crypto trader. The paper trading feature is available free of charge.
In addition to trading using virtual money, prospective traders can move up the chain and trade using real money. Upon registering and crediting an account with some money, traders can access all exchanges from one window, to open and close trades. The all in one window allows traders to keep track of their balances as well as prices while providing access to features such as Connect to Exchanges.
3commas offers a Smart Trading feature that allows traders to trade on all exchanges all from a single interface. The feature also supports stop loss, and takes profit orders for managing trades in the market. Trailing orders also make it possible to trace all market changes and limit all the loss.
3Commas
Trading Bots
3Commas offers three types of trading bots for automated trading
· Simple Bot
· Composite bots
· Grid bots
Simple Bots
Simple bots are trading bots with simple scripts ideal for trading one base pair in the cryptocurrency market. The bot places trades on behalf of traders, on the long or short side.
With Simple bot, traders only have to choose a trading pair, set take profit percentage, and let the bot run. The bot will trigger a buy or sell order as soon as one order is closed. It triggers buy position as soon as price pulls lower significantly and sell orders as soon as the price rises significantly to overbought territory.
Composite Orders
3commas Composite bots are relatively complex trading bots that offer more flexibility when trading multiple cryptocurrency pairs. With this bot, traders can choose multiple trading pairs and run them concurrently.
Composite bots stand out in part because they manage funds much better than simple bots as they don’t have to create dozens of simple bots for every cryptocurrency pair.
In addition, the trading bot does not base trading decisions on indicators. Instead, it bases buy and sell decisions in TradingView analysis of the coin.
Grid Bot
The GRID bot tries to catch every price movement in the specified range.
The bot splits the range into multiple levels and places a buy or sell order on every level, which allows one to buy every drop and sell every rise.
As the bot places both buy and sell order at the same time, it requires both coins from the pair to trade. If you trade BTC against USDT, you need both BTC and USDT.
3commas Pricing
3commas is free to try in addition to offering multiple membership packages for people looking to automate their trading operations in the crypto market. A starter pack is available for $14.50 a month or an annual payment of $174. The starter pack offers access to a trading terminal, concurrent take profit, and stop-loss orders. It also supports Futures trading.
The advanced plan is available for $ 24.50 a month or $294 a year, providing support to Smart Trading Terminal, concurrent take profit and stop loss. In addition, it allows traders to access custom trading signals and simple bots. Traders can also view and copy bots.
The Pro Plan is available for $49.50 a month or $594 a year providing access to the trading terminal, take profit and stop-loss orders. Subscribers can also access short and long algorithms as well as a view and copy trades and engage in Futures trading.
3commas vs.Growlonix vs. Cryptohopper vs. Coinigy
3commas is battling for market share and customers dollars in the automation of cryptocurrency trading operations, with the likes of Growlonix and Cryptohopper as well as Coinigy
Pricing Comparison
Growlonix seems to have an edge on pricing as it is a little bit cheaper being free and providing access to all premium features till in Beta Phase. Its plans range in pricing form $8.34 to $11.99 a month, the cheapest among the other trading bots.
3commas cheapest plan goes for $14.50 with the Pro plan going for $49.50 a month and $24.50 a month on the advanced plan. Cryptohopper plans range from $19 a month to $99 a month. Coinigy on its part has a starter account that is free but with limited features. Its Pro trader plan goes for $18.66 a month and the AVI Developer Pro for $99.9 a month
Market Orders Comparison
When it comes to market orders supported, Growlonix also seems to have an edge as it provides access to a variety of orders followed closely by 3comma. Some of the orders supported include limit stop loss, take profit trailing stop sell/buy as well as OCO and OSO Cryptohopper, and Coinigy lag.
3commas comes a close second as it supports a wide range of market orders including stop loss, Take Profit, OCO (SL+TP), Trailing Stop, Trailing Take Profit, and Step Take Profit among others.
Cryptohopper on its part supports market order types with signals thus not ideal for day Trading. Coinigy on the other hand supports basic market order and limit order.
Exchange Supported Comparison
3commas beats the competition when it comes to exchanges supported. The automated trading platform allows traders to access over 30 exchanges all from a single window. Coinigy comes a close second, followed by Growlonix and Cryptohopper.
Some of the exchanges supported by the four crypto trading bots include Binance, Bittrex , KuCoin, Poloniex, HitBTC, Coinbase and Huobi.
Trading Bots Comparison
3commas also stands out when it comes to the array of bots it offers for traders to engage in automated trading. It offers support for Long Bots, short Bots, Bots with QFl Method, and Composite bots that support multiple pairs.
Cryptohopper on its part supports technical indicator based bots as well as telegram signal bot.
Growlonix comes with Email Trigger-based bot whereby orders are executed on email alerts by TradingView. It also comes with a Telegram Signal bot.
User Interface Comparison
3commas is an outright winner when it comes to the User Interface section. The trading bot comes with a clean UI complemented by a dark theme. It is possible to customize various panels, which also have a show and hide option. It also offers menu options on its sidebar that make navigation easy.
Cryptohopper design elements of its user interface are close to that of 3commas featuring sidebar with multiple options to select. In addition, it comes with a Dark theme as well as an option for showing and hiding panels.
Growlonix comes with a unique user interface that is least cluttered. Its menu option consumes the least space. Its panels are collapsible with market charts residing side by side.
Coinigy also comes with a pretty easy to navigate user interface. It offers multiple backgrounds, although the primary theme is dark. However, its UI is cluttered.
Bottom Line
3commas is arguably one of the best trading bots for traders looking to automate their trading activity in the crypto marketplace. The platform is more advanced when it comes to order types supported, as well as trading tools. In addition, it comes with an array of trading bots designed To enhance various trading strategies.
