Do you know what I am wondering about? Almost every day, I trade cryptocurrencies on exchanges. I wonder how many can survive in this highly competitive niche. All without providing even the most essential tools a trader needs to act professionally in the markets.
Why is there no stop-loss option on some exchanges? 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 them. OK, Crypto is still young; I get it. In my search for a tool to compensate for those crucial features, I found 3commas.io. With them, I found way more than just a simple stop-loss or trade analytics solution…
Things have improved and are improving all along the way, with exchanges always adding new features. The features that 3commas adds and still keep far above them in what a trader wants to trade with.
It might seem cliche to state such, but let’s take an example of their new copy-trading feature and the number of exchanges moving up to 23, much better than before. Many traders have talked about these improvements and are used to a high degree by 3comma subscribers.
Another thing to note is that 3commas listens to its user base to a high degree and constantly adds new features in alignment with what traders use daily.
Table of Contents (click to expand)
Table of contents
- A One-Stop Solution To Add Contemporary Trading Features
- What 3Commas.io can do for us – The Features
- The Exchange Hub
- The Cornerstone Facts
- The Fees
- The App
- So is this 3commas.io worth it?
A One-Stop Solution To Add Contemporary Trading Features
3Commas – “What a strange but remarkable name” was my first thought when I came across a website that should change how I trade later. 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. I found a neatly designed platform that helped me with my day trading needs.
What 3Commas.io can do for us – The Features
3comma’s goal is to hand over a set of so-called “SmartTrading” – tools, and indeed they can do a lot for you. Whether you day trades yourself or want to follow someone else’s portfolio. The web app provides a Swiss army knife of crypto trading tools and gives you a relentless overview of your profitability. This eye view is like a “HUD” pilot’s head-up display, giving one the perfect vantage point 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 most of the essential high-volume exchanges. You generate your API key and secret on your exchange and plug that into your 3commas account.
If you want to stay safe, most 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 of them for your convenience.
The Smart Trading Engine
The Smart Trade section enables us to have our order executed in the most favorable and precise way. Let’s put it mildly; the order handling by 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. Along with that, they do it to a pretty exact degree. 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). It’s a pretty nice feature: you have Tradingview integrated and a custom-generated buy/sell wall visualization right beside.
Have a look here at 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. Not only that, you can easily snoop in other people’s portfolios and their performances. You can apply their portfolio to your account if you like what you see.
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, and when you sold, and it 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 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.
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 that 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 information via email on your mobile, in your browser. You can customize the kind of notifications you get, so you can say 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 constantly.
The fees have changed from commission-based to 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 to which you can subscribe, depending on your use/frequency.
STARTER is just $14.50 monthly, less than most streaming services like 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 bastards!”
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 something is still unclear to you or we just lost you with that wall of text, look at some of the Moonin Papa Videos; he explains the 3commas platform very well, in my opinion. You can’t ask for more as he details all the features and how to use them with 3Commas; I am very impressed by this Super Expert! :))
So is this 3commas.io 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, 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 don’t get that. However, 3commas took advantage of this 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, are finally available with SmartTrading. The project is even better because they have a clear roadmap and constantly add new features. They seem to be eager to improve this platform daily so that what we see right now is just a fraction of what we might get in the future.
We can’t hide it – we like this project, and so might you. Just sign up and try it out – you have nothing to lose but to try their services and tons of good analysis tools for free. If you are looking for a 3commas review, check out our article about the 3commas BOT.