Emily Walker
Investors often face difficulties in the ever-evolving world of cryptocurrencies, where navigating without guidance can lead to confusion. To assist traders in optimizing their strategies and enhancing portfolio performance, several innovative tools have been developed.
3Commas, an automated cryptocurrency trading platform, is one such solution aimed at equipping users with advanced trading technology. In a recent discussion with Bitrabo, CEO Yuriy Sorokin offered valuable perspectives on the significance of automated trading tools, how the landscape has shifted over the past years, and potential future developments in the industry.
Q: Can you introduce yourself and explain what 3Commas is about for those who aren’t familiar?
A: I’m Yuriy Sorokin, co-founder and CEO of 3Commas. We launched our platform in 2017 with the intention of democratizing access to Wall Street-grade trading tools for all traders.
Currently, numerous traders and developers leverage our platform to automate their trading strategies and create custom products. Our primary strength lies in our dependable and scalable infrastructure that simplifies complex trading tasks for both advanced and professional traders.
Q: For traders considering automated trading, what should they keep in mind before proceeding? How does 3Commas stand out in a competitive market?
A: Traders exploring automated trading need tools that offer accuracy, adaptability, and flexibility to navigate various market dynamics. 3Commas caters to experienced traders seeking sophisticated solutions to enhance their strategies across multiple exchanges.
We provide diverse integration features such as custom signals, webhooks, and TradingView strategies that allow traders to concentrate on executing their strategies effectively without being hindered by technical challenges. Our platform is designed to ease the trading experience, which is why we’ve facilitated over $450 billion in trades since 2017—an indication of the trust professional traders place in 3Commas.
Q: You mentioned being ‘builders and tinkerers.’ Since launching, how has 3Commas evolved, and what new offerings are available to users?
A: We remain committed to innovation and problem-solving. Initially developed as a simple tool for our own trading needs, 3Commas has grown into a reliable solution adopted by a vast user base. We are now expanding our focus to institutional clients, including fund managers and family offices, who require advanced capabilities.
A significant addition is our Asset Management product, tailored for professionals managing multiple accounts, allowing them to deploy intricate strategies efficiently at scale. As we advance, reliability and performance remain central to our mission; our platform now supports over a million active deals, offering speed and stability that advanced and institutional traders seek. We continuously strive to create tools that adapt to market changes and the evolving requirements of our users.
Q: At EBC10, you highlighted the future of asset management amidst growing tokenization. What excites you about blockchain’s role in this area? Will tokenization pave the way for mainstream adoption?
A: Tokenization is poised to drive mainstream adoption by bridging traditional finance with the crypto world. The most thrilling aspect is how blockchain can enhance liquidity and access to assets that were once illiquid, unlocking new potential for asset managers and institutional investors to manage and transfer these assets more efficiently and transparently.
At 3Commas, we see this shift aligning with the advanced tools we aim to develop, especially in the asset management domain. With the rise of tokenization, we are focused on equipping traders and institutions with the necessary automation and infrastructure to seize these emerging opportunities.
Q: In your view, where does the crypto industry stand in terms of adoption? With crypto-based ETFs gaining traction, what do you see as the next significant milestone for attracting traditional investors?
A: The adoption of cryptocurrency has manifested in two main forms. In wealthier countries, it tends to be part of an investment strategy, while in regions dealing with unstable currencies, crypto becomes essential for daily transactions.
This dual adoption showcases crypto’s adaptability. For investors in developed markets, it serves as both a diversification tool and a risk hedge; in emerging economies, it provides a secure alternative to cash and access to international financial systems for loans, transfers, and more.
Now that spot ETFs for Bitcoin and Ethereum have been approved, the next significant leap will be introducing ETFs for other notable cryptocurrencies like Solana, XRP, and Cardano. Following that, I believe the integration of crypto into traditional investments, like allowing crypto within 401(k) or Roth IRA plans, could further boost mainstream adoption and attract a wider pool of traditional investors.
Q: As we approach the last quarter of 2024, how can investors maximize the benefits of automated trading platforms during the anticipated bull run?
A: Timing plays a crucial role during a bull market, and it’s easy to get overwhelmed by excitement. Automation assists in managing the emotional aspect of trading, allowing bots to operate under specified parameters based on the risk levels you choose. Bull runs present various fluctuations, which seasoned traders can leverage for success.
One of the greatest advantages of automation is its capacity to maintain strategies that might be challenging to implement manually, freeing traders to step away from their screens while their bots continue to operate. This abundance of time allows professional traders and asset managers to focus on data analysis and client interactions rather than hunched over deal parameters.
If trading is a significant interest for you or part of your profession, I encourage you to explore our platform and discover how 3Commas can enhance your trading efficiency.