3Commas is crypto trading to a new dimension

2022-6-3 22:45

The growth of the cryptocurrency market into a $2 trillion industry has made crypto trading more appealing. But crypto trading remains quite complex with lots of speculation. As many make billions from trading, more people continue to lose billions.

However, the fact that the market is largely driven by speculation doesn’t mean it’s unpredictable. It just means that there are lots of factors that hamper traders from making profitable trades. One of the solutions to this has been trading software assisting users with trade; 3Commas is an example of such software.

What is 3Commas

3Commas is a crypto trading software that simplifies the complex business of crypto trading for users. It has been in existence since 2017, long before the idea of using bots to trade became mainstream. The platform lets users automate the time-consuming processes necessary to manage their portfolios. With an array of tools and features, it allows users to develop custom trading strategies.

The Differentials

Several things differentiate 3Commas from most crypto trading platforms currently in the market. These aren’t limited to their features and array of tools but cover less technical attributes. They include:

1.      Price Points

Many cryptocurrency trading software promises convenience and ease in trading, but many aren’t designed for the average retail trader. Where this is most evident is in their affordability. 3Commas offers several subscription plans catering to different investors. The basic free plan is a trial plan that runs for three days. After that, users can get on fee-based plans, including Starter, Advanced, and Pro. None of these plans cost up to $50 monthly or $600 annually. Although they differ in available features, all the plans offer value that exceeds the fee. The features include GRID Bot, Options Bot, DCA Bots, Scalper Terminal, Paper Trading, etc.

2.      Combined Trading

3Commas allows users to combine manual and automated trading. Bot trading works based on preprogrammed instructions. It has zero margins for errors and ensures better executions and efficiency based on available data. But the crypto market is more than just numbers, and it’s very volatile. This means a seemingly effective strategy can now become useless in the next ten minutes. One of the criticisms of bot trading is that most are unprofitable. By also allowing manual trades, the platform users have full control of their trading and can take on-the-spot trading decisions. Thus, it’s a combination of flexibility and efficiency. Unexpected situations happen every time in crypto. Manual trading lets users take charge during those situations.

3.      SmartTrade

This feature serves both new and experienced users. It is an introduction to the world of intuitive trading for new traders. But even experienced traders sometimes need automation to execute certain trading strategies. When executing trades with zero margins of error across multiple exchanges, SmartTrade allows the automation and execution of trades from one interface.

4.      Copy Trading

Users don’t have to devise every trading strategy themselves while using 3Commas. The market can sometimes be overwhelming with too much information to process. This can make it difficult for a new trader to make the right decision. At times like this, it’s possible to copy the trading strategies of experts and professionals on the 3Commas marketplace. These trading signals instruct the bot on how to execute a trade. However, not all the signals available on the marketplace are free. Some of the experts charge fees for their signals.

5.      Universal Interface

3Commas has a lot of features and tools while supporting 18 major exchanges. Anyone who’s yet to use it might imagine that this would make it a bit complex to operate. But the trading terminal makes it very easy. The terminal is the base of operations where traders can manage their portfolios on every exchange, get relevant and current information, execute trades, etc.

6.      Informative and Educational Content

The platform also allows them to learn about trading and improve. Users can get educational content and guidance from Academy, Blog, Knowledge Base, and 3Commas Marketplace. All these options except the marketplace are free, so users can learn a lot about trading and improve their strategies within a few months.

Bottomline

3Commas serves as a bridge between the user and the exchanges, allowing them to trade across multiple exchanges. With support for exchanges such as Binance, FTX, Crypto.com, Kraken, Coinbase, and several others, users can maximize their trades on all the major exchanges at a token. Sign up here.

The post 3Commas is crypto trading to a new dimension appeared first on CryptoSlate.

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