3Commas.io – The Missing Link In Crypto trading
Do you know what I wonder about almost every day I trade cryptocurrencies on exchanges? I wonder how they can survive in a highly competitive niche without providing the even most essential tools a trader needs to act professionally in the markets. Why is there no stop-loss option, Bittrex? Where are some proper analytics for my portfolio, Binance? Even the shadiest FX broker knows about the need for such features, and they would not even start without. OK, crypto is still young, I get it. In the search for a tool to compensate for those crucial features, I met 3commas.io – and with them, I found way more than just a simple stop-loss or trade analytics solution…
Though things have improved and are improving all along the way with exchanges always adding new features, the features that 3commas is adding still keeps far far above them in what a trader really wants to trade with. It might seem cliche to state such, but let's take an example of their new copy-trading feature and also the number of exchanges moving up to 23, much better then before. These improvement have been talked about by many a trader and are used to a high degree by 3comma subscribers.
Another thing to note is that 3commas listens to their user base to a high degree and are always adding new features in alignment with what traders really use on a day to day basis.
A One-Stop Solution To Add Contemporary Trading Features
3Commas – “what strange but remarkable name”, was my first thought when I came across a website, which should change the way I am trading later on. Frankly, when I read about the offered features on the homepage, my “this-is-too-good-to-be-true”-reflex kicked in, and I signed up skeptically. What I found was a neatly designed platform that helped me with my day trading needs.
What 3Commas.io can do for us – The Features
3commas goal is to hand over a set of so-called “SmartTrading” – tools, and indeed they can do a lot for you. Whether if you day trade yourself or if you want to follow someone else's portfolio. The web app serves you with a swiss army knife of crypto trading tools and gives you a merciless overview of your profitability. This eye view is like a “HUD” pilots heads up display, giving one the perfect vantage point in order to profit from the ever volatile crypto market. As a Crypto trader this is greatly appreciated!
The Exchange Hub
3commas.io lets you hook in the most of the important high volume exchanges. You generate your API key and secret on the exchange you use and plug that into your 3commas account.
If you want to stay safe, most of the exchanges will let you define the permissions of the generated key so that you can disallow withdrawals for example. Bittrex, Binance, Kucoin, Poloniex, Bitfinex, Bitstamp – all these exchanges are embraced with open arms at 3commas – and you have all of them under one roof. No tab terror anymore, just one peaceful hub that carries all them for your convenience.
The Smart Trading Engine
The Smart Trade section enables us to have our order executed most in the most favorable and precise way. Let's put it mildly, the order handling by the most exchanges is “gradable”. This is where the Smart Trade engine kicks in and irons out the multitude of sins by the exchanges. Trailing Stop-Loss and Take Profit is finally available – and that to a pretty exact degree, as you can choose if you want to follow the bid, the ask, or the last price – even you can define a custom price.
This is the core piece of 3commas (though their roadmap shows even more flashy features for the future). Pretty nice feature: you have Tradingview integrated and a custom generated buy/sell wall visualization right beside.
Have a look here, how the staggered take profit works:
The Portfolio Analyzer
As you can connect your exchange account by API, 3commas can pull your data and present you with a neat overview of what your portfolio is doing. The tool shows you your total gains/loss in BTC and USD, the percentage values of your profit/loss, a graph with your allocations, a line graph of the portfolio development, and several other stats. But not only that, you can easily snoop in other people's portfolios and their performances. If you like what you see you can apply their portfolio to your own account.
The Trading Journal
A convenient add-on is the trading journal, so you can take note of the trades, and track everything down. This is mandatory for most professional traders. Once you see your trading as a business, you want to keep a book for what you are doing. The trading journal will tell you which trade you opened, when you bought, when you sold, and shows you your profit/loss in crypto, USD, and percentage value.
The Copy-trader “Crypto-Signals
The Copy-trader feature could make 3Commas.io the Etoro of Cryptos. This feature was the #1 requested feature in the past and we can see why, as many traders feel they are not experienced enough on their own wish to seek out pro crypto traders to help them out. Traders can additionally profit from this option by letting others piggyback their trades. While Etoro has some cryptos available, you never own any coins there.
Means if you purchase 50k of ripple, you are trading them on a holodeck, but you won't be able to withdraw them to a wallet. 3Commas.io will be an authentic Crypto Copy-trader, which works for many exchanges.
Do you remember that awful bug in Bittrex, when you permanently had some notifications poppin' up for trades you did days ago? Not so, with 3commas.io – here you can get notifications on your mobile, in your browser, via email. Heck, you can even customize the kind of notifications you get, so you can surely say that you will be notified if something happens.
The Cornerstone Facts
Let's summarize some hard facts about 3commas.io's web app
3Commas now supports over 23 exchanges. The following exchanges can be hooked into your 3commas account, so you have all your trading desks in one place:
- additionally, you can hook in your Ethereum wallet and more Exchanges are updated all the time.
The fees have changed from the past being commission based to now being subscriber based, which is a great thing as in the past some complained they were being charged too much for 3Commas as a service, well that is solved! there are now 3 Tiers of which you can subscribe to, depending on your use/frequency.
STARTER is just $14.50 a month, less then most streaming services such as Netflix!
Advanced is just $24.50 a month, less than what I pay for coffee monthly “Thanks Starbucks for that!”
PRO is just $49.50 a month, again less than what I pay for coffee monthly “Yeah again Thanks Starbucks you bastids!”
Since there are very few crypto apps for iOS 3commas makes a difference – they have a native iPhone app for their service so that you can control everything anytime. The Android app is yet under development.
If there is still something not yet clear to you or we just lost you with that wall of text, have a look at some of the Moonin Papa Videos, he explains the 3commas platform very well imo. You can't ask for more as he goes deep into detail about all the features and how to use them with 3Commas, I am very impressed by this SuperNERD! :))
So is this 3commas.io really worth it?
We can put that in one word: Yes. 3commas overcomes the shortages of most of the available exchanges. While Crypto might be a part of our real future and the technical approach to go, the platforms available are not yet there.
I often wonder how exchanges or other crypto projects can approach users with crappy interfaces or stone-age tech – I just don't get that. However, 3commas took this to their advantage and created something beautiful and helpful. Staggered smart entries in an overbought asset – finally possible with SmartTrading.
Multiple take profit points, easily calculated percentage-wise, finally available with SmartTrading. What makes the project even better, is that they have a clear roadmap ahead and are constantly adding new features. They seem to be really eager to make this platform better day by day so that what we see right now, is just a fraction of what we might get in the future.
Yep, we can't hide it – we really like this project and so might you. Just signup and try it out – you have nothing to lose, but to try their services, as well as tons of good analysis tools for free. If you are looking for a 3commas review check this article out about the 3commas BOT.