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   270

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 Taxpayers to be supported in India

Cleartax, the largest Indian tax filing platform joins Zebpay exchange to help crypto taxpayers
24 March 2018   102

The object of this partnership is to educate Bitcoin traders and investors about the current tax laws and how to apply them in stating cryptocurrency profits and incomes. Indian authorities are aimed to find the best approach to Bitcoin and the other kinds of cryptocurrencies. The recent declarations of the regulators that new instructions would be accepted in a short time, have not been followed by real actions. So the attempts to enforce the control on this sphere have led to summaries that this task in not going to be simple at all. According to last month media reports, new frameworks and rules were waited by the end of March.

Though they failed to to introduce extensive regulations, the Indian authorities are focused to tapping into crypto earnings. In a previous month the Income Tax Department released notifications for thousands of cryptocurrency investors, as reported.

The Cryptocurrency Advisory Plan will help Indian bitcoin investors and traders in this year's tax campaign. The biggest tax filing platform Cleartax joins the Indian bitcoin exchanges and wallet providers Zebpay. They are both objected to support taxpayers to understand and abide by the law regarding taxation of the transactions with cryptocurrencies.

Cleartax declared it has the tax and technological expertise “to help people understand how bitcoin works”. Besides, the platform has started tax filing services for cryptocurrency investors. The Cleartax CEO and founder Archit Gupta claimed that together with Zebpay they are going to “simplify taxes for Indians”. The head of exchange at Zebpay, Nischint Sanghavi added that he believes the partnership with Cleartax will simplify tax planning for Zebpay`s customers.

In February about 100,000 cryptocurrency investors received tax notices from India`s Income Tax Department. Questionable dubious transactions, authorities investigated some of the cryptocurrency exchanges, and banks paused many of their accounts. Then the governmental pressure caused significant drop in trading volumes.

The authorities in Delhi have set a number of warnings against investing in BTC. Also the largest commercial banks have restricted severely the operations of local exchanges and individual cryptocurrency traders, even before any law demanding such measures is adopted.