3Commas – Crypto Trading Bot Review by Traders

Our rating 4.1/5

Pros

Cons

How to Use and Profit from 3Commas? Full Review

3Commas Crypto Trading Bot Review

To most common people, even the old-fashioned stock market always sounded like something complicated, distant, and unavailable. Most people understand that one needs a lot of money to participate in the stock market, but also a lot of knowledge and experience. This is why trading bots such as 3Commas were created.

And then, Bitcoin appeared and revolutionized the entire financial system. Following Bitcoin, so many altcoins were launched, and a new one is being launched almost every day. While most people have heard something about Bitcoin and cryptocurrencies, the majority of them still don’t know much about it. 

And dealing with the new, crypto market sounds even more complicated than was the case with the traditional stock market. People are intrigued because they can hear many success stories of people who invested little but then ended up rich. 

So, many users are encouraged to take a chance with crypto when they hear that there are crypto trading robots and software. Such tools proved to help many users profit from crypto without having to become experts.

Unfortunately, scams do happen. Users are strongly advised to thoroughly check a crypto bot before entrusting their personal data and finances to their team. 

In this post, we will be checking the 3Commas trading bot, a bot that happens to have a set of promising features and has built quite a reputation among crypto investors in the previous years.

3Commas review overview

Pros and Cons

3Commas pros and cons

The 3Commas: A Brief Introduction

The 3Commas is a well-known, cloud-based, and multifunctional trade bot, with more than 200 thousand satisfied users all over the world. According to their website, the crypto enthusiastic team behind 3Commas developed the bot back in 2017, for personal use. However, when they realized how effective and helpful it was, they decided to make a business out of it.

Their core values include transparency and reliability, and the team seems to be doing a good job so far.

3Commas bot types

Their app has several beneficial and highly functional features. However, it is known among the users for its four different bot types:

  • Short
  • Simple 
  • Composite
  • Composite Short

Also, the system algorithm is enhanced with another convenient feature. 3Commas have the so-called long and short algorithms. The long algorithm enables the “buy low and sell high” option, while the other one does the opposite.

Furthermore, the Smart Trading option is another reason why so many users decide to use the 3Commas bot above any other. The Smart Trading feature contains TakeProfit and StopLoss options. These two options make sure gains from the crypto market are increased as much as possible.

How to Register on 3Commas?

3Commas registration process

Step 1 – Make a new account. To enter the app and start using the bot, the user has to fill in their name, email address, and a unique password. The registration process lasts only a couple of minutes. Once the email is confirmed, the user is officially signed up. 

Step 2 – Choose the preferred bot (optional: customize the bot).

Step 3 – Link exchanges. By default, the app is only connected to Binance. If a user would like to take advantage of the remaining 17 exchanges, at this step it is possible to link profiles on these exchanges with the 3Commas bot.

Step 4 – Customize the bots and enter preferred settings. Some of the most common settings are target profits, profit types, trade start conditions, and many more.

Step 5 – Trade.

3Commas App and Web Platform: Learning Materials, Exchanges, and Additional Features

3Commas app and web platform: learning materials, exchanges, and additional features

Developers of crypto trading bots know that the users of their platforms want to avoid complications of manual trading. Therefore, users want simple and intuitive interfaces. The 3Commas interface is one of those easy-to-use and beginner-friendly bots.

Also, 3Commas is easy to use on whichever device you choose to use it: PC, Android, or iOS. It is available in all these versions, and, according to thousands of positive reviews, the bot seems to be functioning quite well regardless of the version.

However, although crypto bots make trading much easier, some level of knowledge is required here as well. Beginners might find it confusing to choose from many trading pairs and to determine target profits. 

Luckily, the 3Commas website has an abundance of materials to study from. The new users can find useful information, tricks, and tips on their blog. 

Also, the community section has a lot of materials to study the bot and the crypto market before actual trading. In case of specific issues, users can get in touch with other users via social media channels (Telegram, Discord, and Reddit).

The 3Commas bot functions in the following way: it has access to 18 different exchanges (Coinbase, Binance, and Huobi included), and regularly keeps track of the available orders and offers. Then, according to the settings and customization, it will trade the best offers, maximizing profits and minimizing losses for the user.

Portfolio, Data Analytics, and Strategies Marketplace

Additionally, 3Commas has some important features apart from trading itself. Although the bot mostly replaces the human user for trading, the best traders know that it can be beneficial to use bots for learning as well. That’s why features such as data analytics, crypto portfolio creation, and back-testing of the crypto portfolio come in handy. Also, 3Commas allows insights into other people’s portfolios, with the ability to see and copy the strategies that other people found profitable.

Is 3Commas Safe and Licensed?

Is 3Commas Safe and Licensed

The questions of safety and reliability of a trading bot are probably the first questions users have in their minds when they are thinking of using a new crypto automation tool.

A lot of money is in the game, so users should entrust their crypto accounts and personal data only to the most trusted companies and apps. Fortunately, 3Commas is one of those reliable and approved bots. The platform has millions of dollars of daily turnover, and there are no reports of fraud or scams so far.

On the other hand, it is true that we don’t have many details on which security protocols are employed by 3Commas, and there is no data about any licenses regulating the business. But the fact that the 3Commas bot doesn’t actually have any access to users’ personal funds sounds a bit comforting. Even if something happened and the bot went rogue, it wouldn’t have the data required to withdraw funds from the crypto wallet. Besides, the 3Commas team has a backup plan to immediately notify users in case of a hacker’s attack.

In reality, the user’s safety is guaranteed by the exchange, because they provide users with an encrypted API key, which allows the bot to enter the user profile only to do the trading. 

However, in order to rule out any risks, 2F authentification and notifications are recommendable so that the user can notice suspicious activities in time.

Premium Plans: Free, Starter, Advanced, and Pro

3Commas premium plans

Users can work with the basic features of the 3Commas crypto bot for free. This means the user can have up to one Active SmartTrade, GRID bot, Options bot, and DCA bot. Also, the Scalper Terminal feature is included. However, advanced traders usually opt for some of the three premium plans. 

The Starter plan costs $29 (or $11.6, with the annual subscription) a month. Unlike the free plan, it offers an unlimited number of Scalper Terminal and Paper Trading features.

With the Advanced plan, for $49 (or $19.6) a month, the user gets to profit more, because they have at their disposal an unlimited number of DCA bots. 

Finally, for crypto professionals, there is a Pro plan. The Pro plan is a bit more costly ($39.6 or $99 a month), but since it unlocks all of the available bot features and allows their unlimited use, chances are that it will pay off.

Also, compared to the prices of other crypto bots, 3Commas can be considered quite affordable.

Unlike Pionex, which is among the most popular trading bots, 3Commas allows demo versions so you can give it a try before investing real money. When it comes to what it offers to the users, it is in the same level as Trality and Coinrule, although we give it a better overall score, as it combines great features in single trading software.

Pro Tips for Investing With 3Commas

Pro Tips for Investing With 3Commas

The best crypto trading bots are those that allow customization of their bots, and 3Commas is one of them. The first step is to choose a bot (a simple one of a composite one). After that, the user is able to outline the details of their specific strategy, by setting order types, the maximum number of active trades, coin pairs, and more. 

Since all these parameters can cause significant losses unless properly set, new users should consult the available 3Commas study resources before trading.

3Commas User Feedback 

In general, people seem quite satisfied with the 3Commas customer support. Users can report issues and ask questions in multiple ways. It can be done via several email addresses, a website contact page, and various social media accounts (Twitter, Facebook, Telegram, and Reddit). The Help center supports English and Russian as communication languages.

3Commas User Feedback 

The average rating of 3Commas on TrustPilot is high: 4.3 out of 5 stars. Customers have rated the mobile apps even better, 4.6 on Google Play Store, and 4.7 on Apple store. Such a high rating is quite impressive and realistic, considering that there are thousands of available reviews.

Most of the negative reviews on this site (although there aren’t many) complain about delayed replies. Still, it seems that once they do reply, 3Commas support is being helpful. As the number of users grows every day, that probably slows them down occasionally. Otherwise, the communication with the customers seems to be unblemished.

Final Verdict

3Commas review verdict

The reputation of 3Commas is impeccable, and for a reason. This is a serious crypto trading platform, with a series of useful features, and several different bot types, that are open for customization. Although there aren’t any licenses, which are always more than welcome, there aren’t any recorded cases of misuse or fraud either. Therefore, it seems that crypto trading is conducted without any problems. And even if there are any issues, customer support has proven to be knowledgeable, responsive, and helpful. 

All in all, 3Commas is one of the best choices a user can make when it comes to crypto trading bots. 

FAQs on 3Commas

Is 3Commas a legit crypto trading bot?

3Commas is a legitimate trading bot. It is not a scam. There are four different bot types and, for experienced traders, there is also a great opportunity to customize them.

How much can I make with 3Commas?

This crypto bot can make a profit of around 15% monthly, according to users. This totals around 160% yearly, which is successful and certainly profitable. Of course, it will depend on the strategy and market conditions.

Is 3Commas safe to use?

While no official licenses have been issued for 3Commas, it is deemed safe. They recommend turning on notifications and 2-step verification. They also provide their users with an encrypted API key. No reports of fraud or scams have been associated with this bot and there are plenty of satisfied customers.

Is 3Commas suitable for beginners?

3Commas is not the best choice for beginner traders. It may too difficult to get the hang of it. That being said, it is a great option for novices to learn strategies and copy them from experienced traders.

Disclaimer: All information contained here should not, under any circumstances, be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.

Author

  • Nina Petrov is a theoretical mathematician, passionate about new trends in the global economy and blockchain technology. She is a devoted content creator and editor, crypto-enthusiast and stock market analyst.

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