Smart Cryptocurrency Trading Bot Released

From this article you will learn how 3commas lets users make money from cryptocurrency trading without keeping track of multiple orders on innumerable exchanges
14 March 2018   1268

One of the main characterisctics which are mainly associated with cryptocurrency market is that it is extremely volatile. Nevertheless, there are projects which are developed in order to let holders and traders of cryptocurrency make use of market volatily, and even make profit from it. For sure there are some issues which the users face, like lack of time for constant monitoring of exchanges and coins, lack of notifications, or lack of knowledge about the right time for trading. However, projects like trading bot 3commas are built from scratch to bring real solutions to such issues.

What makes 3commas unique?

3commas is a cryptocurrency trading bot that aims to improve the trade quality by giving the trader right control and features they need to maximize their cryptocurrency trading profits. 3commas calls it SmartTrading, and it provides really outstanding features:

  • Users can trade on Bittrex, Bitfinex, Binance, KuCoin, Poloniex and BitStamp exchanges from one single interface i.e. from 3commas’ window
  • Contemporary stop-loss and take-profit
  • Trailing mechanisms for tracing all the market changes and limit the loss
  • Handy notifications about the orders condition
  • Notes for the orders
  • Trader’s journal, which is an automatic summary of user's trading statistics from all the exchanges in one convenient report

3commas application can be accessed both through web-browser and mobile, and it already has an iOS app, while Android application is also under development.

How does 3commas work?

In order to register on 3commas the users should use their email ID to log in, and then they will see the dashboard like on the screenshot below. It is a nicely-designed tool to keep track of your balance, prices and connect to exchanges. As we have already reported, 3commas works with Bittrex, Bitfinex, Binance, KuCoin, Poloniex and BitStamp exchanges, and they can be easily connected from a single window.

3commas screenshot3Commas Screenshot

Moreover, all contemporary stop-losses or take-profit conditions are managed and executed in real-time according to the goals the users set.

Talking about trailing stop-losses, the platform allows to always follow the price and move the stop-loss after the price moves toward the target take-profit. For instance, if the user bought 1 ETH for 0.05 BTC, set in the system a stop-loss goal of 10% (0.045BTC), take profit of 20% (0.06 BTC), and if the price of ETH increased by 10% (0.55 BTC), the stop-loss of 10% would be rearranged to 0.0495 BTC. 

3commas charts template3Commas Charts 

Why is 3commas better than other services?

One more really useful feature of 3commas is that it allows users to enable notifications for mobile, in the browser, and emails from the right top corner under settings. Also, the users can add notes and comments in their trade orders so that they can get the audit trail in the report as to why and when the trade was carried out. It definitely increases the eficiency of trading.

What is more, 3commas provides such feature as Trader’s diary, where the users get a report of the trades that they have made on all the linked exchanges through 3commas, and the profit or loss on a particular trade in a particular duration. The users of 3commas can also explore portfolios of others through the Portfolio Copy tool and analyze how they are doing by following that particular portfolio, or even copy a portfolio.

3commas portfolio3commas portfolio

What also makes 3commas unique is that it is rather cheap for the features it provides, as it cuts down on a lot of hassle for multiple exchange users. A commission of 0.25% on the transaction amount is charged for each Smart Trade (Buy) or Smart Sell (Sell) created. The use of infographics and portfolios, automatic balancing in particular, is completely free on 3commas for now.

When the users start transactions, they are not charged the commission. The required commission amount gets frozen in the account. The commission will be deducted from the account upon the successful completion of a transaction: activation of stop-loss or take-profit or clicking Panic Sell. If the user cancels a transaction or if it does not go through due to a service error, the frozen funds will be returned to the account.

What are 3commas plans for the future?

The team of the project is surely dedicatied to developing something useful and of a good quality. We looked through their roadmap, which you can find below, and found out that the team has really great plans for the future and will most probably have a succesful realization of those plans.

3commas roadmap3commas roadmap

For instance, one of features under development is the option to copy winning traders via their CopyTradingBot feature which they also call a social trading.

All in all 3commas looks like a really promising project, and the users who would like to srart making real profits right now are welcome to join the project!

Crypto Billionaire to Lost 5.5k BTC Due to Fraud

Thai scammers convinced 22 yo Finnish crypto billionaire to invest in their 'investment' scheme
13 August 2018   284

The 22-year-old cryptocurrency millionaire lost more than 5,500 bitcoins after taking part in the investment scheme in Thailand. The case attracted public attention because of the possible participation of a Thai actor. This is reported by Bangkok Post.

A group of scammers in June 2017 persuaded Finnish businessman Aarni Otawa Saarimaa to invest in several Thai securities, a casino in Macau and a crypto currency called Dragon Coin.

Scammers claimed that Dragon Coin could be used in Macau casinos. In addition, they brought Saarimaa to this casino to demonstrate the legitimacy of their project. Saarimaa transferred 5 564 BTC to fraudsters.

In January, without receiving any income for his investments, Saarimaa filed a complaint with the Crime Suppression Division's (CSD), along with his local business partner, who believed that this investment scheme was fraudulent.

CSD began to investigate the case and stated that the group made no investment for Saarimaa, instead transferring all the bitcoins to Thai baht and placing these funds on seven bank accounts.

Although it is not clear when exactly the scammers sold the bitcoins, CSD announced that they raised about 800 million baht or about 24 million dollars.

Then followed a months-long investigation, according to which CSD began to suspect that the Thai film actor Jiratkisit "Boom" Jaravijit also took part in the fraudulent scheme - he was arrested last Wednesday.

In addition, the CSD stated that it suspects the actor's brother, Princess Jaravijit, as the "instigator" of this entire scheme. He left Thailand, traveling to South Korea, and then to the United States. According to the Bangkok Post, CSD is currently working with the US to track him down.