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   857

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 Exchange White Label Service launched by OKEx

OKEx, one of the biggest exchanges in the world, has declared the run of a crypto exchange creation programme ‘Digital Asset Exchange Open Partnership Program’
20 June 2018   73

The announcement claims that the programme is intended to “nurture a new generation of digital asset exchanges”. To establish a new crypto exchange, interested parties have to provide OKEx with a domain name, logo, and specialties of the management team. They are assured to possess “solid industry experience, quest for service excellence, and strong industry influence.”

Applicants should also deposit 500,000 OKB tokens into their accounts. This equals around $2.5 million at the present rate, according to OKB is a utility token that were first sold in March of this year in packages of up to 100, each costing $100. They can be applied to settle transaction fees on the exchange and traded for Bitcoin, Ethereum and Tether.

The applicants will get access to OKEx’s fitting system (which links up buy and sell orders), cold and hot wallets (offline and online cryptocurrency storage), clearing system (which handles money transfer), client support system, and know-your-customer and anti-laundering systems. They will also get support from the OKEx technical team.

100 places are suggested by the programme in its first phase. It is anticipated to start in July. The announcement also points out the setup that the new exchanges must have. They will develop their own native tokens, and distribute them as follows:

  • 25 percent to themselves;
  • 24 percent to OKB holders;
  • and 51 percent to be mined.

OKEx explains the mechanisms by which the tokens will be mined/released. The term white label was firstly invented in the music industry - a white label vinyl record was a release so new that it had not yet been labelled, a much sought-after thing. Presently it cites to a service or product manufactured by one company and sold to another for re-sale under a different brand name.