Again in December, I reviewed a set of ‘sensible instruments’ designed to assist cryptocurrency merchants decrease dangers and maximize earnings. 5 months later I made a decision to revisit the platform to see if that they had something new to supply…
If You’re Not Innovating, You’re Stagnating
In the case of crypto, few issues are as disappointing to me as when a very promising undertaking launches and comes out of the gate actually robust, solely to fizzle out a number of months or a yr down the street.
3Commas, which launched in September 2017, has managed to keep away from that pitfall and simply continues to get higher and higher. The platform boasts greater than 22,000 energetic crypto merchants and a every day commerce quantity of greater than $6 million.
Talking concerning the platform’s spectacular development, 3Commas CMO Mike Goryunov mentioned:
We proceed to construct win-win collaboration with our prospects and as I can see it’s the principle cause of our success.
The explanation for the platform’s rising reputation, in fact, is the wealth of instruments and options it provides that has resulted in energetic merchants making an common month-to-month revenue of greater than 15%.
Extra Exchanges Than Ever Earlier than
Once I beforehand reviewed 3Commas, the platform built-in with Poloniex, Bittrex, Bitfinex, Binance, and any Ethereum pockets. Since then, the builders have added integration with:
The workforce is within the strategy of including assist for Huobi as effectively, and a little bit chook advised me that assist for HitBTC and Bitmex can be coming on-line quickly after.
Automated Buying and selling Bots
The most effective buying and selling instruments are those you don’t should babysit 24/7 and 3Commas has rolled out a brand new software that makes my little guppy-sized crypto dealer coronary heart sing with pleasure. After a lot anticipation, the workforce has launched its Automated Buying and selling Bot software and the response from the neighborhood has been overwhelmingly constructive.
For many who are unfamiliar with the idea, a buying and selling bot is a bit of laptop software program that executes trades over and over primarily based on pre-determined parameters that the dealer configures.
The issue with most buying and selling bots is that they’re both troublesome to make use of – particularly for brand new merchants – or they simply plain don’t work the best way we anticipate them to. 3Commas has solved each issues with a buying and selling bot that’s each simple to make use of and dependable in its efficiency. Outcomes could differ, in fact, however on common the buying and selling bot generates a every day revenue of round 1.5%. Detailed analytics on the bots’ efficiency can be found on the 3Commas web site.
Moomin Papa has created a terrific video explaining how 3Commas’ Automated Buying and selling Bot works, however right here it’s in a nutshell:
Step 1: Select which sort of bot you’re creating
3Commas helps two sorts of buying and selling bots – easy and sophisticated. A easy buying and selling bot solely includes one buying and selling pair whereas a fancy buying and selling bot includes a number of buying and selling pairs. For the needs of this text, I’m solely specializing in easy buying and selling bot creation.
Step 2: Title your bot
Naming your buying and selling bot will allow you to keep in mind which bot is buying and selling which pairs. That is particularly helpful if you may be creating and operating a number of buying and selling bots.
Step three: Select your change
Inform your buying and selling bot which change will probably be buying and selling on. It may be any change that you’ve added to your My Exchanges dashboard.
Step four: Select your buying and selling pair
Choose the buying and selling pair you need your bot to purchase and promote from the drop-down menu.