Discover 3Commas
3Commas is an advanced automated crypto trading platform designed to help traders optimize their strategies across various market conditions. Launched with the aim of making trading efficient and profitable, 3Commas supports multiple exchanges and provides a unified interface for managing trades and portfolios effectively.
Pricing
3Commas offers several pricing plans to cater to different trading needs:
- Starter Plan: Priced at $4/month, includes 10 SmartTrades, 2 Signal Bots, 2 Grid Bots, 5 Single-Pair DCA Bots, and 25 DCA deals.
- Professional Plan: Costs $37/month, offering 50 SmartTrades, 10 Signal Bots, 10 Grid Bots, 50 DCA Bots, and up to 500 DCA deals.
- Expert Plan: At $59/month, it includes unlimited SmartTrades, 50 Signal Bots, 50 Grid Bots, 250 DCA Bots, and 2500 DCA deals
Ease of Use
3Commas is known for its user-friendly interface, which makes it easy for traders of all levels to navigate and use its features. The platform offers a comprehensive dashboard where users can monitor the market, manage trades, and analyze their portfolio’s performance in real-time.
Features
3Commas provides a range of powerful tools designed to enhance trading efficiency:
- Automated Trading Bots: Operate 24/7, including DCA bots for optimizing entry prices in various market conditions, Grid bots for sideways markets, and Futures bots for advanced trading.
- SmartTrade and Terminal: Set predefined triggers for automated trade execution, offering customization for entry/exit points, stop-loss orders, and take-profit levels.
- Rebalancer Tool: Automatically adjusts the allocation of coins in your portfolio to maintain your investment strategy.
- Portfolio Tracking and Analytics: Centralized management of all crypto assets with detailed performance dashboards.
- Trading Bot Presets and Signal Bot: Follow strategies developed by experienced traders or integrate TradingView indicators for automated trading decisions.
Supported Exchanges
3Commas supports a wide range of exchanges, including Binance, Bitfinex, Bittrex, Coinbase Pro, Huobi, and many more. Integrating your exchange account is straightforward, ensuring you can start trading quickly.
Security, 3Commas Hacks, & Breaches
3Commas has faced significant security challenges, raising concerns about its security standards in recent years. While the platform employs several robust security measures, recent incidents have highlighted vulnerabilities that have impacted user trust.
Additionally, they offer two-factor authentication (2FA) and IP whitelisting to further secure your account.
Incident 3: Unauthorized Trades and API Key Leak (October 2023)
In October 2023, 3Commas was on “heightened alert” after several user accounts were compromised and unauthorized trades were executed. The incident was identified after users reported suspicious trades following password resets. An investigation revealed that only a few accounts were affected, primarily those without two-factor authentication (2FA). To address the breach, 3Commas implemented additional security measures, such as a new approach to resetting passwords and disabling API connections after a password reset. This incident underscored the importance of enabling 2FA and regularly updating passwords to enhance account security (Cointelegraph).
Incident 2: API Key Compromise and Unauthorized Trades on FTX (December 2022)
In December 2022, 3Commas faced a significant security issue when API keys linked to its platform were used to perform unauthorized trades on the FTX exchange. The joint investigation by 3Commas and FTX revealed that the API keys were not stolen directly from 3Commas but were obtained through phishing attacks and malicious browser extensions. Following this discovery, 3Commas and FTX suspended the compromised API keys to prevent further unauthorized trades. This incident led to increased scrutiny and highlighted the need for users to safeguard their API keys and be vigilant against phishing attacks (Cointelegraph).
Incident 1: Phishing Attack and Unauthorized Trades (October 2022)
In October 2022, 3Commas was alerted to unauthorized trading activity involving API keys stolen through phishing attacks. Scammers created fake websites resembling 3Commas, luring users to enter their API keys, which were then used to execute unauthorized trades for DMG, MTA, and MATH tokens. The incident affected a small number of users but resulted in a significant loss of funds. 3Commas collaborated with partner exchanges to identify and disable compromised API keys and implemented more stringent security measures to prevent similar attacks in the future (3Commas).
Pros and Cons
Pros:
- User-friendly interface.
- Wide range of features and supported exchanges.
- Robust security measures.
- Free trial available.
Cons:
- Higher pricing compared to some competitors.
- Some advanced features may have a steep learning curve.
Final Thoughts
3Commas is a versatile and powerful platform for traders looking to automate and optimize their crypto trading strategies. Its comprehensive range of features, user-friendly interface, and strong security measures make it an excellent choice for both beginners and experienced traders. Whether you’re looking to use automated trading bots, manage your portfolio, or leverage advanced tools, 3Commas has you covered.
Take Your Trading to New Heights
Ready to see what 3Commas can do for your trading? Sign up for a free trial today and take the first step towards smarter, more efficient trading. Visit 3Commas to get started.
FAQs
3Commas is an automated cryptocurrency trading platform that allows users to manage and optimize their trading strategies across multiple exchanges. It offers a variety of tools, including trading bots, portfolio management, and smart trading features, designed to help both beginners and experienced traders.
3Commas connects to your crypto exchange accounts via API keys, allowing the platform to execute trades on your behalf based on predefined strategies. Users can set parameters for buying, selling, and managing their portfolios, and the platform’s bots will carry out these actions automatically.
Some key features of 3Commas include:
Automated Trading Bots: Use DCA, Grid, and Futures bots to automate trading strategies.
SmartTrade Terminal: Set up advanced trading strategies with customizable order types and triggers.
Portfolio Management: Manage and track all your crypto assets in one place.
Backtesting: Test your trading strategies against historical data to optimize performance.
Signal Bot: Integrate TradingView signals for automated trading based on technical indicators
3Commas supports a wide range of exchanges, including Binance, Bitfinex, Bittrex, Coinbase Pro, Kraken, KuCoin, and more. This extensive support allows users to manage trades across multiple platforms seamlessly.
Yes, 3Commas is designed to be user-friendly for both beginners and advanced traders. The platform offers pre-set trading strategies and an intuitive interface, making it easy for newcomers to get started without requiring deep technical knowledge. Additionally, the platform provides educational resources and a demo account for practice.
While 3Commas employs several security measures such as API key management and two-factor authentication (2FA), the platform has faced multiple security challenges. Incidents involving API key compromises through phishing attacks have highlighted the need for users to follow best security practices. 3Commas continues to improve its security protocols and collaborates with exchanges to enhance overall security.