Navigating the ever-changing crypto market can be a challenge for investors, who often descend into the depths of the crypto market industry without any guidance. Some have taken it upon themselves to develop tools to help traders guide their strategies and maximize the performance of their portfolios.
3Commas, an automated crypto trading bot platform, is one of those companies that aims to provide users with technology that helps their trading strategies. Speaking to Bitcoinist, Yuriy Sorokin, CEO of 3Commas, shared valuable insights on the role of automated trading tools in the market, what has changed in recent years, and where the industry could be heading in the coming months.
Q: For those unfamiliar with the platform, can you tell us a little about yourself and 3Commas?
A: I’m Yuriy Sorokin, the CEO and co-founder of 3Commas. Our platform was launched in 2017 with the goal of empowering traders by making professional, Wall Street-class tools available to everyone.
Today, thousands of traders and developers use our platform to automate strategies and build their own products and services. And that’s where we believe our core strength lies: a reliable and scalable infrastructure that simplifies complex trading operations for advanced and professional traders.
Q: If a trader is exploring an automated trading approach to navigate the different phases of the market cycle, what should they consider before making a decision? How does 3Commas differentiate itself from similar tools available on the market?
A: When traders consider automated trading, they need tools that provide precision, flexibility and the ability to adapt to different market conditions. 3Commas is specially designed for experienced traders who already know the market and need advanced solutions to optimize their strategies across multiple exchanges.
With flexible integration options like custom signals, webhooks and TradingView strategies, we help traders focus on what really matters: executing their strategies efficiently without getting bogged down by technical hurdles. Our tools are built to make your trading life easier. That’s why many traders rely on 3Commas to keep them ahead. Since 2017, we’ve processed more than $450 billion in transactions, and that trust keeps experienced traders coming back to 3Commas as their go-to solution.
Question: Are you still “builders and tinkerers at heart”? You previously stated that 3Commas was born out of the need to manage your crypto portfolios. What has changed since the company was founded, what new features and products are available to your users?
A: We are definitely still builders and problem solvers at heart. What started as a tool to simplify our own trading has grown into a trusted solution used by thousands of traders. And we are now shifting to institutional clients, such as fund managers and family offices, who require more advanced tools.
One of our biggest developments is the launch of our Asset Management product, which is specifically designed for professionals who manage multiple accounts. It enables them to implement advanced strategies efficiently and at scale. And as we’ve grown, we’ve always put reliability and performance at the heart of what we do. Our system now processes over a million active deals, giving advanced and institutional traders the speed, stability and efficiency they need. We continually work to stay ahead of the curve, building tools that evolve with the market and meet the changing demands of professional traders and investors.
Q: At EBC10 you discussed the future of asset management in a world where tokenization continues to grow. What’s the most exciting thing about the role of crypto and blockchain technology in asset management? Do you think tokenization will be the gateway to mainstream adoption in the long run?
Answer: I believe tokenization will be a crucial driver of mainstream adoption, especially as it bridges traditional finance and the crypto space. What’s exciting is how blockchain technology can create greater liquidity and accessibility to assets that were previously illiquid or out of reach for many investors. This opens up new opportunities for asset managers and institutional players, providing a more efficient and transparent way to manage and transfer assets.
For us at 3Commas, this shift fits in perfectly with the tools we develop, especially in the field of asset management. As tokenization grows, we are focused on providing advanced traders and institutions with the automation and infrastructure they need to efficiently leverage these opportunities.
Q: Where is the crypto industry in terms of adoption? This year we have seen the industry take crucial steps towards mainstream recognition and adoption with the adoption of crypto-based spot exchange-traded funds (ETFs). What do you see as the next milestone that could further attract traditional investors?
A: The crypto industry has seen two different types of adoption. In wealthier countries, crypto is often part of an investment strategy, while in regions with less stable currencies and unreliable payment systems, crypto is becoming an essential part of the everyday economy.
This split acceptance is not a disadvantage; it’s actually a testament to crypto’s versatility. For investors in developed markets, crypto offers portfolio diversification and a hedge against risk. In emerging markets, it offers a more secure alternative to cash and access to global financial systems, enabling loans, currency transfers and more.
Now that the ETF barrier has been broken for Bitcoin and Ethereum, the next big milestone will be the creation of ETFs for other promising coins such as SolanaXRP and Cardano. After that, I see the next big step as integrating crypto into more traditional investment vehicles, such as allowing people to include crypto in their 401(k) or Roth IRA portfolios. These developments could significantly increase mainstream adoption and attract traditional investors.
Q: Finally, as we cross the final quarter of 2024, how can investors better take advantage of automated trading platforms during the second phase of the bull run?
A: Timing is critical in a bull run, and it’s easy to get caught up in the hype. This is where automation comes into place. The key is to let automation handle the emotional side of trading and optimize bots for cost efficiency with the amount of risk you are comfortable with. There are many peaks and valleys during a bull run, and those are opportunities for experienced traders to find great success.
Perhaps the best part of automation, besides being able to use strategies that are simply not possible with manual trading, is the ability to walk away from your computer and do something else while your bots continue to work. For professional traders and asset managers, this means more time for technical analysis and client relations, and less time entering deal parameters.
If trading is your great interest, or your profession, I invite you to check out our software for yourself and learn how 3Commas automation can make your trading more efficient.
Bitcoin (BTC) is trading at $74,279 in the three-day chart. Source: BTCUSDT on TradingView
Featured image from Pexels.com, chart from TradingView.com