3commas bot

Overview of 3commas bot 

Automated trading in the cryptocurrency sphere is gaining momentum. More and more beginners and professional traders prefer trading bots that make deals according to the laid down algorithms. One such bot is the 3commas bot. 

This company offers a number of new solutions and functions that can help you set up automated trading. 

What is a 3commas bot 

3commas bots is an online platform that allows you to use the advantages of automated trading with bots. The main feature of the company is to serve all clients, regardless of the size of his investment. Therefore, the platform’s services are used by both beginners and experienced traders. 

The working principle of 3 commas bots is simple. You set up a bot and give it the right to trade on your behalf. For example, you can set up the algorithm so that the bot will buy and sell a coin the moment its price reaches a certain value. This is the simplest example. In reality, the bot has much more possibilities. 

How 3commas bot works 

If we talk about the main functions of 3commas trading bots, we should definitely mention: 

1. the Exchange API. Before starting automated trading, the user needs to connect their exchange accounts to the platform. Even if you do not want to use all the features of the bot, connecting it will make it much easier to make trades. 

2. Once your exchange accounts are connected to bot 3commas, you can decide which trading strategy to use. However, before trading, special attention should be paid to the SmartTrade function. It is a single hub, which combines several exchange platforms into one, making transactions much easier. 

Trailing orders. This is a type of order, which allows you to prevent losses by selling the asset, if it has fallen by % specified in the settings. If the price goes up, the value of trailing orders also increases. 

4. Smart Selling. An excellent tool for long-term investing. If your asset falls in value, you can sell it and specify at what value to buy it back. This feature is very useful if you are sure that the value of the asset will increase in the long term. 

5. 3commas trading bots. There are two options for setting up bots when it comes to the 3commas platform. Experienced traders can set up automatic trading conditions on their own. If you are just starting out or just counting on passive income, it is still possible to copy trading portfolios of other users of the platform. 

Basic settings of the 3commas bot 

For the optimal configuration of the 3comma trading bot, you need to familiarize yourself with the following parameters: 

1. Exchanges – Select the exchanges your bot should trade on. If a trader trades large volumes of assets, you should trade on several exchanges for higher liquidity. In this case, the bot can execute orders simultaneously, which increases its efficiency. 

2. Pairs – be sure to specify the trading pairs that you want to use for transactions. The most popular pair is BTC/ETH. 

3. Initial trade size – the bot needs to know how much you want to use for your trades. 

4. Safe trade size – if properly configured, it allows you to reduce the average purchase price of assets. 

Terms of cooperation with 3commas 

3commas platform offers 4 packages for its clients, which provide different cooperation conditions. The price of the maximal package is $75 a month. You can get acquainted with the platform for free with the first package – Junior Plan.  

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