Trade the cryptocurrency market for passive income automatically with 3commas

The cryptocurrency market has both experienced traders and budding ones. Many struggle in finding the right coins to trade in, and knowing when to buy and sell.

While it is possible to make profits with a small set of simple rules, complex methods such as technical analysis are required to reduce the associated risk. These require knowledge of the indicators at play and the market in general, making it an unsuitable option for newcomers in the space.

However, 3commas is aimed at changing this by making complex trading procedures available for easy execution, along with a multitude of other features.

Users can connect 3commas to multiple accounts on exchange platforms such as Bitfinex, Bittrex, Bitstamp, Poloniex, Kucoin, Binance, HitBTC, Cex, Coinbase Pro [GDAX], OKEx, Huobi, and YOBIT. This wide variety of exchanges is also complemented by the fact that users can select up to 99 trading pairs.

Traders are given multiple features and various kinds of bots to make their trading automatic, thus allowing for the generation of a passive income.  The platform offers a variety of tools to minimize risks and maximize profits, such as:

SmartTrade Terminal:

This service allows users to access a dashboard across any device, known as the SmartTrade terminal. The terminal allows users to open a trade and ensures that a stop loss and take profit are put in place simultaneously. The SmartTrade terminal also allows users to buy when the price reaches a particular target or set a step take profit for their orders.

The platform also allows users to set a trailing buy and sell for their selected pairs, and also has an auto-follow function that follows the price and trades at the optimal price. The platform also allows users to set trailing stop loss and trailing take profits for the same purposes.

TradingView Signals:

Expert traders can also implement custom signals from TradingView to give accurate instructions. 3commas recently executed the feature on their platform as an update to their trading algorithm. Moreover, experienced traders can also devise complex strategies that can be utilized in conjunction with the copy-trading feature that exists on the platform.

The complex strategies put forth by traders will allow the general community of 3commas, including the less experienced traders, to reap a higher reward at a lower risk. This feature will also make way for the execution of complicated trade practices such as scalping.

Bots:

The platform offers 4 options for bots, namely, short, simple, composite, and composite short bots. Short bots engage in short trading for 1 trading pair, while composite short bots engage in short trading for multiple pairs. Similarly, simple bots trade long for one trading pair, and composite bots trade long for multiple trading pairs.

If the users have a list of coins they want the bot to trade, they can set up a composite bot that will manage their balance automatically. Both the long and short algorithms are all inclusive of the exchange fee and associated fees. 3commas sets a low price to guarantee that the order will be closed. However, the coin is not actually sold at this price and is traded at the normal market price at the time of the transaction.

Social features:

3commas also has an active traders’ community that can submit their setups for bots. These bots are measured by metrics such as profits per day, the number of days it has been running, the number of deals it has conducted and whether or not it has a stop loss.

It also has a functionality for traders to keep a diary through which they can keep a track of their trades. They can also manage multiple portfolios in the management section of the dashboard. New traders can copy more experienced traders’ portfolios through the platform’s social trading feature.

3commas has a special platform for users known as SmartPool. This is an initiative by 3commas to let their users take part in Pre ICOs and Private ICOs. These ICOs are curated by the 3commas team. The team does research, gathers information, reviews and gets in touch with leaders of the ICOs to ensure a safe investment.

Different settings for different markets:
3commas offers an opportunity to set up a DCA Bot and choose from different signal sources, which provides a recipe for profits in a bull market. Users can choose from multiple timeframes or use 3commas’ very own “composite signal”.

In a bear market, 3commas offers a short bot that will open and close positions automatically. They also have an automatic execution of the complex, Dead Cat Bounce QFL Method, technical analysis for passive income in a stable market.

Referral bonus:

3commas also has a referral bonus for those who share the software with their friends. Those who received it from another will pay 10% less for their subscription, with the referrer earning 20% from all the payments made by their referrals.

Plans:

Name of Package

Price Smart Trading Platform Custom TradingView Signals Bots Exchanges Portfolio management
Starter $30

Y

N

No bots

All 12

Y

Advanced $50

Y

Y

Simple bots

All 12

Y

Pro $100

Y

Y

Simple+composite+short

All 12

Full

Enterprise 3commas API, Custom features on request, Priority service

For more information, click here.

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