With 3commas.io, you will be able to access tools that assist you trade and invest in cryptocurrencies, all from one place. The tool can help you minimize your risks, grow profits, and limit losses as a result of bad trade decisions. It can also be used to assist you to find a performing portfolio. In general, it is a great tool for managing investments.
How does it work?
3commas will provide you with all the tools that you need to trade on crypto exchanges. For these tools to work, they will need to be connected to the exchange via an API. To ensure that your funds are not stolen, the API key permissions are set to allow only trade but not the withdrawal of funds. When you set up the API keys, do not forget to disable the withdrawal feature.
Setting up 3commas
To sign for 3commas, go to their sign up page. After signing up, you are provided access to all the analytical features. However, if you wish to trade using this tool, you must connect it to your exchange.
Understanding SmartTrading
With SmartTrading, you will be able to trade profitably. With this tool, you can utilize the TakeProfit and StopLoss features. In essence, you can choose investment decisions that are profitable for you while preventing any significant losses.
How do Portfolios Work on 3commas?
Portfolios provide you with the opportunity to analyze and purchase an investment portfolio of cryptocurrencies. This is a type of passive investment when you buy tokens and hold onto them long term as you wait for their value to rise.
How to Invest in a Portfolio
You can either find an existing portfolio that looks profitable, or you can create your own. When a portfolio is created, or you choose one created by someone, you can begin to analyze its performance. You can then save the portfolio and follow how it performs.
After you find the right portfolio and choose to buy it, ensure that you press Apply to exchange- ALL(!). The balance in your account will be utilized to make purchases of tokens in a specified manner. You can also analyze portfolios created by others and buy by clicking “Apply”.
Do you like the 3commas tool? Is it something you would consider using? Tell us more in the comment section below.
