Best alternatives for 3Commas trading bot

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Best alternative trading bot for 3Commas - 2024

Looking to replace your trading bot at 3Commas or just try a new one on the side? We selected our top 3 alternative trading bots for 3Commas. During our research we check the trading bots on three different criteria, easy to use, advanced settings and testruns.

Good to know: A trading bot can never replace manual trades and human learning insights, although a trading bot doesn't require sleep and has no emotional involvement in any trade made. Trading bot can make your life easier when is setup and tested properly.

Our best alternatives for 3Commas

  1. Shrimpy *recommendation
  2. Cryptohopper

What we've considered while picking alternatives for 3Commas

The expectation that the service will perform its intended function adequately for a specified period of time, or without failure.

Security is defined as the state of being protected.

Ease of Use
How easily you can use a the crypto bot alternative.

Can you make profit with the trading bot and the tools they provide within their platform

Does the price match the functionalities & tools they provide to make profit

3Commas alternative Shrimpy (our recommendation)

Shrimpy crypto trading botShrimpy is a great portfolio management solution for the busy person. Shrimpy adapts ideas from smart investors outside of crypto to introduce simple automated strategies which can help decrease risk and increase returns. It even offers historical data, 7 day forecasting & social trading.

Start today with Shrimpy * our recommendation

Link multiple exchanges
Shrimpy has 20+ connections to crypto exchanges, this way you're almost sure your crypto platform is ready to connect. (not yet active on a crypto exchange? Signup at Binance today) For all crypto exchanges Shrimpy provides a tutorial page so its very simple to connect your accounts.

Manage your portfolios
Within the Shrimp account you can manage multiple portfolio's. This way its easy to have multiple portfolios within one account. For example manual trading portfolio, investing portfolio and a trading bot portfolio. This way you can de-risk and have multiple strategies.

Portfolio Stop Loss
When the market crash, you want to be safe, also while sleeping. With the option Portfolio Stop Loss you can set a stop loss on your whole portfolio. This way when a big crash happens you can get out without being behind the screens.

Smart order routing
Smart Order Routing is a unique tool designed by Shrimpy that searches on crypto exchanges and evaluates all trading pairs with coins. This way you can optimize trades by using the different pairs and use exchanges as a tool to move your assets around for the maximum profit.

Historical data
In the trading dashboard you can find historical price data, market cap information, and statistics through a simple asset. Also you can backtest your strategy and setup of your trading bot, this way you're able to make the best and accurate trading setup based on data.

7-day forecast
Within the Shrimpy account you can see a 7-day display price for every asset. This is automatically generated bij the Shrimpy machine learning models. These prices are updated every day and using the prices of the last 90 days.

Copy (other) Top traders
Another huge benefit of Shrimpy is that you can copy other crypto traders. This way you can find top traders and (auto)copy their strategies. The leaders (aka Top Traders) get paid per follower, so they benefit from doing well. This is a two way benefit as they will do their best to trade well and create a long term relationship. Besides, as a beginner you probably learn a lot from all trades made.

Large Shrimpy academy
As Shrimpy has aexcellentteam behind them. They offer a lot of good information and tutorials how to setup your trading bot and use all the tools within the crypto trading bot and platform.

Start now with crypto automation on Shrimpy platform

Shrimpy Trading Bot tutorial video's

3Commas alternative Cryptohopper:

Cryptohopper crypto trading botCryptohopper is a popular cryptocurrency trading bot with a number of unique and intriguing features, such as cloud trading, broad social trading possibilities, and a wide range of platforms to trade on. Stop losses and tail stops are extremely useful in this situation, as they greatly aid risk management.

This is likely one of the greatest crypto trading bots available, as evidenced by its big client base (over 150k users) and signal marketplace.

Mirror trading, paper trading, trading methods creator (easy drag and drop design), automated trading, and trailing stop loss are just some of the options included in Cryptohopper.

Start now with Cryptohopper

Videos about Cryptohopper

New to crypto trading bots?

NOTE: cryptobots can be overwhelming at start, but the good cryptobots have amazing testing options available so you can test your setup against historical data or test your setup on the current market data. No need to worry, start and test YOUR bots till YOU think its time to go LIVE.

Advantages of using a trading bot

Humans have a limit on how much info they can handle at once, but robots do not. Sure, a person can check several charts, absorb the numbers, and make an informed choice on what to do next.

However, human mistakes do occur, and one can only be vigilant for so long. Bots don't get bored of making good judgments based on the information they're given.

What's more interesting is that crypto trading bots would never experience fear of missing out or be concerned about losing a great deal. Bots lack emotions and will not make poor judgments as a result of them. Trading bots, on the other hand, will always focus on selecting the best option feasible.

Disadvantages using a trading bot

It's hard to teach trading bots to consistently perform the way they should in a trade since the crypto market is so unpredictable. A severe market crash or a circumstance that a robot hasn't been designed for might cause it to make the wrong decision, putting your wealth at danger.

Furthermore, crypto trading bots aren't typically employed to generate big amounts of money. They're instead employed to make a series of lesser profits. After all, putting your full portfolio in the hands of a robot is never a smart thing to do.

How to test crypto trading bot

Backtesting crypto trading bot

Most bots are built on the foundation of backtesting. Before you send your bot to a cryptocurrency platform, you must complete this step.

Backtesting your bot against the previous six months or a year is an smart place to start. After the backtest is done, you will receive the findings, which will include all of the necessary information to determine whether the crypto bot is performing as expected (e.g. total return, maximum drawdown, number of trades executed, etc.).

Paper-testing crypto trading bot

Paper trading allows you to trade with simulated crypto using real-world exchange data. This way, you can get a feel for the platform without putting yourself at danger.

GUIDE: Crypto trading bots for beginners

Alternative trading bots for 3Commas

  1. Shrimpy *recommendation
  2. Cryptohopper