Crypto-Currencies
You can trade over 150 different cryptocurrencies on Binance with 3Commas. For payment purposes on the 3Commas platform, cryptocurrencies accepted include Bitcoin and Ethereum.
Trader level
According to the team behind 3Commas, all traders, regardless of their skills, trading level, and expertise, can use the trading bot. Whether you are a newbie or experienced trader, you will find that 3Comma is very easy to use.
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Introduction:
If you want to start trading cryptos but have little or no experience at all, considering automated trading would be a no-brainer. Even if you are an experienced trader, you still need automated trading bots, as you cannot unilaterally rely on human intellects. Plus, trading bots would enable you to trade on auto-pilot 24/7.
While there are several trading bots on the market, one trading bot that is so promising is 3Commas. This bot integrates with several exchanges so that you can get the most from the crypto market.
Will the bot meet your trading needs? Does the pricing fall within your budget? Due to massive demand, we have put together a comprehensive
3Commas review to ascertain whether or not it is worth traders' time and energy. Let's get started.
Summary
3Commas is one of the leading trading bots in the crypto space. Its plethora of tools and services are accessible by newbie and experienced traders alike.
As a new member, there is a 3-day free trial package for you to test the operations of the trading bot. 3Commas integrates with BitMex, Binance, Binance Jersey, Binance US, Bittrex, Bybit, OKEX, Huobi, Coinbase Pro.
3Commas operates a referral program to encourage dedicated members of the platform. If you can refer a new member, you will earn 25% of the new member's subscription payments.
General info
Yuriy Sorokin founded 3Commas in 2017. The goal of the company is to simplify trading for all traders. As of the time of writing this review, 3Commas boasts of more than 220,000 registered members and supports more than
23 exchanges.
3Commas gives traders the flexibility and the precise control needed to enhance their profits making strategies.
It offers 3 types of bots – Gordon bot, Advanced bot, and Grid not. Grid bot is the latest addition to the company's product line.
3Commas also offer Smart Trading, where you can
trade on different exchanges from a single interface. They have a mobile app for you to trade while on the go.
Company Registration
3Commas registration status is unclear as of the time of writing this review, as there are no registration details on the company's official website.
Who can register?
According to 3Commas, anybody that has a flair for crypto trading can register on its platform. However, traders must have attained the legal age for online financial activities.
Support
3Commas has a dependable customer service desk that you can turn to if you experience any challenge using their services. Their customer support team is always ready to walk you through every step of the walk.
If you have any complaints to make, you can reach 3Comma's customer support desk via email (
suppprt@3commas.io) and the "contact us" form on their website.
You can also follow them on social media platforms –
Twitter,
Facebook,
YouTube, and
Telegram to get the latest update about their services.
Verification
Before you can start using 3Commas to trade the crypto market, you need to sign up on their website. The signup process is very easy and straightforward. You either sign up through your Facebook account or you fill the registration form by entering your name, email, passport, and repeat password.
3Commas also verifies all traders at the point of registration. Once you click the submit button, you would need to confirm your profile by clicking on a link that was sent to the email provided during registration. The essence of the registration is to make the 3Commas community safe for seamless trading.
Security
3Commas doesn't take the issue of security lightly, as there is an email authentication, SMS authentication, and 2FA to secure users' hard-earned money. If you are a registered member on 3Commas, you are guaranteed that your funds are safe from the prying eyes of scammers and spammers.
Subscriptions / Trial
3Commas offers 3 pricing plans – Starter, Advanced, and Pro pricing plans. The company also has a custom plan that can be arranged with the team.
Let's take a look at what each plan offers:
Starter Plan – $29/month
Here is what you get on this plan:
- Trading terminal
- Concurrent Take Profit and Stop Loss
Advanced Plan – $49/month
Here is what you get for the advanced plan:
- Trading terminal
- Simple bots
- Short and Long algorithms
- View and copy bots
- TradingView Custom Signals
- Concurrent Take Profit and Stop Loss
Pro Plan – $99/month
Here is what you get for the Pro plan:
- Trading terminal
- Futures Trading
- Concurrent Take Profit and Stop Loss
- Composite bots
- Bitmex, Binance Futures, and ByBit bot
- GRID bot
- TradingView Custom Signals
- Simple bots
- Short and Long algorithms
- View and copy bots
In addition to the above plans, 3Commas offers up to 50% discount if you subscribe for a yearly plan. Plus, there is a 3-days free trial package for newcomers to try out the functionality of the trading bot.
Investment tools
In a bid to ensure traders get the best out of the market, 3Commas created tools for trading on Binance. These tools guarantee quality results. The company has been in partnership with Binance since 2017, and in 2019, the duo launched 3C.exchange, the first Binance broker.
How you can deposit the money
- It is pretty easy to deposit money to start trading on the exchange of your choice. The following is the process of depositing funds on 3Commas:
- Go to "My Account" once you're signed in
- Switch to the "Deposit" tab and select the coin you wish to deposit
- Send the money to the address visible on your screen
- You will see all finished and in-process deposit transactions in the history tab
- If you don't see your deposit instantly, you need to exercise patience, as there might be a little delay in processing your transaction.
- Once the transaction is completed, you will receive an email that a particular amount has been deposited in your account.
- If you're having any trouble, you can reach out to a member of their team via support@3commas.io.
How you can withdraw the money
Just like the deposit process, we explained above, withdrawing your money is quite smooth and seamless. The following is the process of withdrawing your hard-earned money:
- Login to your account and go to "My Account."
- Switch to the "Withdrawal" tab and select the coin you want to withdraw.
- Switch the coin network or choose the coin you want to use if it's a coin with multiple networks.
- Enter the amount you wish to withdraw and the address
- Check to confirm the address, as the approved transaction cannot be reversed or canceled.
- Click "Submit" to effect the transaction
- 2FA factor must be enabled for the transaction to go through
- Confirm with 2FA and Email
- Wait for the system to process your withdrawal request (could take upto 12 hours)
Commissions (deposit and withdraw) + time
As of the time of writing this review, there is no information regarding the 3Commas deposit Commission. According to an article on their blog section, we saw that they charge the same commission on withdrawal as Binance.
The deposit and withdrawal time vary per transaction. For withdrawal, the maximum time you can expect for your transaction to be effected is 12 hours. As for the deposit, the transaction should pull through within 5 hours.
Transparency
3Commas is highly transparent according to users' reviews. There are no hidden charges, and you don't get to pay sundry unnecessary charges.
Avg. profit data & ROI, Drawdowns
Using 3Commas trading bot comes with a lot of excitement, as it promises mouth-watering profits under predictable market conditions. However, you need to put strategies in place in case the market becomes bullish.
Drawdown
Drawdowns are inevitable in the crypto market, whether you are using bots or you're trading with your human intellect. However,
using a bot like 3Commas will help you minimize the inherent risk in the market. Here is how it works: the bot opens a new deal using pre-set conditions and puts a coin for sale. The profit goal is achieved if there is a price increase, and the order gets filled. If there is a reduction in price, the bot would immediately place safety orders that are below the purchase price.
Bonuses
There is a bonus system designed to encourage users of the trading bot. In the company's referral program, you can earn a bonus if a new member registers, subscribes, and pays with cryptocurrency through your link. The bonus is 25% on all subscription payments the new member makes.
Referral program
3Commas operates a referral program to encourage users of the platform further to make more money. Here is how the referral program works:
- Go to your dashboard and copy your referral link
- Share the link on different social media platforms where your friends or family members will possibly click to also register on 3Commas
- Once a new member signs up via your referral link, the person becomes your referral, and you will start to earn 25% of his/her subscription payments.
- If the new member goes ahead to refer another new member, you get %15 of the new member's subscription payment.
- Your referral balance can be used to pay for services on 3Commas.
Integration with other platforms
3Commas integrates with BitMex, Binance, Binance Jersey, Binance US, Bittrex, Bybit, OKEX, Huobi, Coinbase Pro.
API / script language
You can create API keys on any exchanger supported by 3Commas. In this review, we decided to create
API keys on Bittrex. Follow these processes to create your API keys:
- Go to Bittrex.com
- Log in if you have an account with Bittrex or you create a new account
- Open your dashboard and click "settings" located at the top right corner of your screen
- Click "API" keys on the left side of the page
- Enable 2FA to add API keys
- Add new keys and select permission and save
- Enter 2FA code
- Add Bittrex to 3commas
Other services
3Commas has video tutorials and written resources you can read through to master the use of the trading bot. Robust knowledge of the bot will enhance your earning potentials as you gain experience.
Conclusion
And that would be it! 3Commas is a trading bot you need to try out. While it started operations in 2017, which to us, is still new on the market, you need to be careful in your quest to make money off the crypto market.
You can start with the 3-day free trial package to see whether it is worth your time, energy, and money.
