3Commas is a suite of “smart tools” to assistance cryptocurrency investors lessen threats, restrict losses, develop gains, and deal with their portfolios across many exchanges.
Saint Petersburg, Russia-based mostly 3Commas delivers skilled and commencing traders alike a suite of “smart tools” developed to assistance them deal with their portfolios across many cryptocurrency exchanges even though maximizing gains and limiting losses.
Before take a look at-driving the platform, Bitcoinist sat down with 3Commas CMO Mike Goryunov to converse about what prompted the team to establish the platform in the very first location:
It is kind of a amusing story simply because we originally built this platform for our own use only. When we confirmed our task to good friends in the crypto local community, we observed a huge have to have for the kinds of applications 3commas has and so we made a decision to open the task to every person.
3Commas opened to the general public in September 2017 and, mostly through phrase of mouth, has developed to around 5000 active traders and an typical day-to-day trade quantity of around $5 million USD.
Applications and Features
The very first factor that caught our interest about 3Commas was the cleanse, uncluttered interface. The platform delivers a basic, sensible person experience regardless of whether you are accessing it by way of a desktop laptop or cellular machine. Russian and English language options are accessible, as properly, with additional languages in the functions.
Cryptocurrency exchange integrations
3Commas integrates with Poloniex, Bittrex, Bitfinex, Binance, and any Ethereum wallet and the process of hooking up your exchange account to the platform is quick and basic thanks to effortless-to-adhere to illustrated documentation. Additional exchanges will be additional through the coming calendar year.
To lessen chance and to persuade wise investing habits, 3Commas has implemented two applications that every trader need to study to consider benefit of – Trailing Quit Decline and Trailing Take Earnings.
Trailing Quit Decline
A Trailing Quit Decline purchase is identical to a conventional Quit Decline purchase in all respects except 1. Both allow you lessen your losses in the function of a price fall, but compared with a Quit Decline purchase that is established manually at a mounted price threshold, a Trailing Quit Decline purchase is proportion-based mostly and automatically adjusts to price fluctuations.
For case in point, let us say you obtain 10 ETH at $675 each individual and to lessen any probable losses, you established a Quit Decline purchase of 10%. This usually means that if the price of ETH drops underneath $607.50, the end reduction purchase will automatically execute, offering your ETH at that price.
But what if the price of ETH goes *up* all through the working day? A conventional Quit Decline purchase will continue to only execute when the price drops underneath 10% of the original get-in price. A Trailing Quit Decline purchase, however, automatically adjusts to the price modify. So if the price of ETH goes up by 15%, the Trailing Quit Decline purchase would trigger when the modified price drops by 10%, netting you a 5% gain.
Trailing Take Earnings
Just like how the Trailing Quit Decline instrument is developed to lessen losses, the Trailing Take Earnings instrument is developed to optimize gains. Employing our Ethereum case in point from earlier mentioned, let us say you get 10 ETH at $675 each individual and established a conventional Take Earnings purchase at $700. This usually means that you would make a revenue of $25 for each ETH.
But what if ETH goes bigger than $700? You have just misplaced additional probable revenue. A Trailing Take Earnings purchase allows you sell at the highest section of a development by offering at a proportion of the highest benefit. So if you established a Trailing Take Earnings purchase of 10% and ETH climbs to $800 and then falls, the sell purchase would consider outcome when the price falls underneath $720 ($800 – 10% = $720), netting you a revenue of $45 for each ETH.
3Commas Portfolios instrument is a exceptional feature that not only allows buyers observe their precise portfolio’s functionality around time, but also allows them develop custom “dream portfolios” of tokens and coins that they assume could be successful. These custom portfolios are publicly accessible to other buyers who can review them and even insert them to their own precise portfolio.
The Highway Forward
2018 seems to be to be a really fast paced calendar year for 3Commas. Various new investing applications will be additional, which includes social investing and arbitrage investing. Social investing, which we are told will be rolled out someday in February 2018, allows buyers ‘follow’ their beloved traders and copy their trades.
Arbitrage investing will allow for buyers to consider benefit of price variations amongst 1 exchange and a further. Fundamentally, traders will be in a position to get very low on 1 exchange and sell high on a further. Correct crypto arbitrage investing capabilities are couple of and significantly amongst, so the start of this instrument, in certain, need to be of excellent interest to the crypto local community.
For more details about 3Commas, or to check out it out for your self, visit 3commas.io.
Ringing in the New Calendar year with a 50% Bonus
In legitimate vacation spirit, and to usher in the new calendar year in grand style, 3Commas are giving buyers a 50% reward on all deposits from December 31, 2017, through January 3, 2018. No promo code is needed. Just indicator up at 3Commas (or indicator in if you are by now a registered person) and make your deposits. Bonuses will be credited automatically.
Have you attempted 3Commas still? Which of their investing and portfolio management applications do you locate to be the most helpful? Allow us know in the comments underneath.
Pictures courtesy of 3Commas, Shutterstock
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