Statista says in their article that the inflation rate kept increasing from 2000 to 2023. Not only developing countries but also developed countries faced a huge crisis in their economy after the pandemic.
In these situations, having a side hustle apart from the usual job is necessary. What if I tell you you can earn money without working so hard with manual and automatic systems? You can choose which suits you the best in that hustle.
You may have heard the word Crypto in various publications of leading mass media. Whether you heard it in a good sense or bad, we have uncountable examples of people who have made money just by crypto trading.
What they do, they learn and then earn via it. Today’s article is about the software named “3Commas,” which is the simplest solution if you’re a beginner in trading, so keep reading. This article covers its features in terms of benefits, pricing overview, and frequently asked questions.
Table of Contents
What is 3Commas?
The 3Commas is the modern solution towards financial freedom. It’s a platform allowing novice and expert traders to do completely manual or fully automated trading. 3Commas has bots that no one offers its competitors. Its features and tools are also impressive.
Who Is 3Commas For?
3Commas is for those who want financial stability and freedom to do what they want to do in their lives. It’s a complete package for beginners and an excellent tool for expert traders.
How 3Commas Work?
Suppose you are visiting the 3Commas site and love what they offer. You bought its package, now what to do next? There are four simple steps you can follow:
- Account Creation
- Selecting The Exchange Rate
- Bot Selection
- Social Trading
Let’s discuss each of them briefly.
Account Creation: Creating an account on 3Commas is relatively easy as you have to fill up basic information, and after that, you will receive a link to confirm your account. Then your account is ready.
Selecting The Exchange Rate: Your next step will be to attach your account with the exchange rate. You have to click on the dashboard and use your API key to access it.
Bot Selection: The best thing about 3Commas is the bot; they can do transactions for you even in the middle of the night. Moreover, you can manipulate the bot according to your usage.
Social Trading: Social trading lets you observe what your peers and competitors are doing and make your strategy according to it.
Several Products 3Commas Gives You As A Bonus:
3Commas offers a few highly effective products to make your trading better, which are as follows:
Trade automation means there are bots available that can easily do work for you even if you’re not online at that time.
The user-friendly dashboard of 3Commas keeps all the updates so you can make a sudden change with every up and down in the trading industry.
Is 3Commas The Best Software Among Competitors? – Preview Of Features:
Any software can be easily understood by the features and the benefits that come from it. Here is the very important feature and its benefits you need to know about.
Smart trading means you and your account will work smart, not hard. This feature helps you manage multiple accounts with just one interface. So your trading becomes more straightforward than you think of it.
By using this feature, you can also sell your coins at different targets, some for $1000, some for $1050, and the rest for $1200. Smart trading has a microfeature known as take profit and stop loss 3Commas automatically closes the deal if the price reaches the indicated value.
You can consider this feature as a ChatGPT for content creation. This tool saves a lot of energy and time. You have to enter precise data with complete authenticity.
The more authentic your data is, the more profit you can make. 3Commas used bots to run this feature. It also has a certain system called long algorithm and short algorithm.
In the long algorithm, the bot buys a coin at a lower rate and then sells it at a higher price. For example, a bot purchases a coin for $15 and sells it for $16.
Variety Of Bots:
Which is your favourite place to visit in your free time?
There are many chances you will answer that the one with the variety of activities and to-do list. 3Commas offers you the same. They have different bots to boost your trading with every possible aspect. Grid Bots are the best-automated systems to work in daily fluctuations in the market.
Having a powerful trading side hustle depends upon the platform you use for trading. More transparency means more growth. Portfolio tracking helps you to track your past and current activity and makes the right strategy for future trading.
I considered referral programs as easy money as you have to gain the trust of your known peers and sell them. You will automatically earn a reward once they complete all the program requirements.
3Commas gives you three steps to withdraw your money from referral programs. Firstly, you have to earn via crypto referral, then spend it on 3Commas, and finally, you can withdraw your money.
To take the utmost benefit from this feature, start building your audience today.
The marketplace is the premium feature that shows you the signal from different trusted platforms. So you can analyse your next step easily.
You must set up the whole system according to you to gain access to this feature. API is crucial for the safety of your data.
Whenever your bot is going to close a single deal for you, a notification pops up on your mobile phone. This feature makes you aware of every minor approach of yours.
Unlimited Trading Facility:
If you have ever used any cryptocurrency platform, trading is limited, but 3Commas enables you to do unlimited trading and earn as much as possible.
What Types Of Exchanges And Cryptocurrencies Are Supported By 3Commas?
3Commas supports more than 20 cryptocurrencies as an exchange rate. There’s a high chance that your exchange will be in these 20 currencies.
Pros And Cons Of 3Commas:
3Commas has many pros and a few cons. As a buyer, you must know about them to make a better choice.
What I Like The Most – Pros
- The free plan is for a lifetime.
- Mobile-friendly software.
- Different bots to help you categorise your trading.
- Feature-rich interface
Things Which Need To Be Improved – Cons
- The pricing plans of 3Commas are expensive as they need more than their cheap plans to help you in the long run.
Detailed Pricing Overview Of 3Commas:
3Commas has four pricing plans to target a large audience, from novice to expert. Anyone can choose according to their requirements. Nonetheless, every plan has some extras to benefit the consumers most. These extras include:
- 16 supported exchanges
- Multi-Level referral program
- Free Mobile apps
- Trading View Integration
- Single portfolio of many crypto accounts to make management pretty simple for you.
The free plan is mainly for beginners, so they can use and understand the interface of the 3Commas. Once they get familiar with it, they can buy the plan which suits them best.
There is no limit to using your free account. You can use it for a lifetime.
The free plan is quite mobile-friendly, so you can access features like mobile Apps, notifications, and API integration.
Lastly, as it’s a free plan, many useful features are not accessible, like smart trading or manual trading.
The starter pack has a monthly payment system. However, almost all the features are accessible in this plan, whether social trading or manual trading.
Starter gives you infinite smart and terminal trading options.
The only drawback this plan have is the limitation of bots. You can use different bots only once for the whole month.
The advanced plan is quite modern, like the given name. It gives you unlimited DCA Bots, HODL Bot, and Scalper terminals. These limitless features help a beginner to be a professional within one month.
The advanced plan also has a demo account to practice more.
However, as it’s not the Pro, you also have to face some limits. You can use GRID, Smart, and Option Bot only once.
The pro plan has almost everything unlimited for the month except for Smart Bot. You can only use Smart Bot once every month.
Wunder Trading is the leading platform in the crypto market, offering 100+ currencies as an exchange rate. Wunder Trading enables you to manage multiple accounts with completely automated systems. This platform charges a 1% commission fee cheaper than other platforms. You can read more about it here.
Hassonline is known as the most sophisticated among its competitors. However, it could be more feature-rich than its competitors. Its free trial can only be available for 14 days and offers only 14 exchange currencies. Nevertheless, it also lacks an affiliate system and academy program. You can read a detailed review here.
3Commas is still young in the crypto market, but because of its highly converting strategy and result-driven staff, it has become quite popular among users.
It has mostly positive reviews, evidence of how 3Commas converts clicks into money.
How Safe Is 3Commas?
3Commas uses API technology, considered the most secure among all the security methods. However, if you want more protective layers, you can also use unique passwords and two-factor authentication.
How Do Bots Trade Crypto?
Bots are a technology that can automate commands based on triggers and signals they receive. Most of the time, they perform well, but sometimes, they need help understanding the next move completely. The most common bots are Future, Option, and Hodle Bots.
How Much Can You Make With A Crypto Bot?
Experienced traders can easily make 20-25% profit every week from bot trading. However, beginners may see the profit percentage is lower, as they have to learn technical market analysis and how to execute it.
Which Steps Should I Follow To Set Up The Crypto Bots?
To set up a bot, you have to follow three steps.
- Which type of bot suits you better - you can analyse it based on your understanding here.
- Which Crypto exchange you want to use - choose the one you already know. In the start, it could be a better idea to experiment with new currencies.
- The most important thing is which prompts or commands you want to give the bot. To simplify, you have to feed in the bot whether it has to react with a specific signal. If you find it difficult, then you can use the default bot.
Does Automated Trading Work Better Than Holding?
In answer to this question, you must admit that being a human, you can always supervise everything. Therefore bots are made to help you—your automated trading works as smoothly, clearly, and strongly as your strategy. Different bots work differently with the market situation.
For instance, Grid Bots are an excellent choice for the daily fluctuations in the market; another bot helps you sell and buy your assets with profit. Ultimately bots are there to help you out in your whole journey of trading.
3Commas is an augmented trading platform for beginners and experienced traders. It has different bots for different purposes, 20 exchange options, affiliate programs, and an unlimited trading facility.
3Commas have gained immense popularity after being featured in Bloomberg. Moreover, it has many positive customer reviews to prove its authenticity. It also gives you the free version for a lifetime – and keep in mind that no one from its competitor offers you the same value.