Let's consider an example in which 0.18 BTC was bought at $50,000, but BTC plummeted and now trades at around $35,000. This is an unpleasant situation, because the investment has lost 30% of its value.

What are the most common options for a trader to solve such a problem?

One can wait until the price goes back to $50,000 – but no one knows exactly when that might happen.

Another option is averaging position – purchasing more BTC to bring the average buying price closer to the current trading price. For example, if we buy another 0.18 BTC at $35,000, then we only need the price to rise to $42,500 in order to break even. The downside of such an approach is the need for additional funds to implement it. In addition, the price might drop even further, and the losses may increase.

We would like to introduce you to an alternative way, however, which does not require you to invest additional funds or wait for the price to get back up; you can start turning your losses into profits right away!

The first step is setting up a Grid bot to trade BTC in the $35,000-$65,000 price range. We set the lower boundary at a current price, and then determine the top boundary by keeping in mind that the middle of the range should be at the price we purchased the asset at in the first place. This way, we won't sell out all of our BTCs by the time the price gets back to $50,000 and have the top part of the range to realize potential profits in case of further growth.

Grid bot will first sell some BTC – but with every price drop, the bot will buy it back to sell higher once more. That way, each repeated trade will bring us profits.

Let's see what the bot's settings should be:

Approximate necessary balance: 0.18070000 BTC

The more Grids you set up in your bot, the fewer "blind" zones it will have. But be careful – you shouldn't place orders too close to each other, in order to ensure that your trading fees do not exceed your income. For your convenience, we have compiled a table of minimum suggested distance between the Grid lines of the bot for different exchanges, based on their standard fees:

Do not forget about the minimum lot size allowed on your exchange for your cryptocurrency. For example, in this case, the exchange set the minimum size at 0.0001 BTC. This limitation affects the number of Grids (orders) that you can place to distribute all available 0.18 BTC.

Every time the price moves out of your bot's lower bound, you will then have the same amount of BTC as you had before this bot was launched – but you will also get some extra income from reselling.

If the price is dropping, you can reconfigure your bot repeatedly until the price finally locks into your bot's range.

How to make your crypto work

In this article, we would like to tell you what a Grid bot is, and how it can help you profit if you bought crypto right before it dipped.

Bitstamp is a major cryptocurrency exchange developed early in the history of crypto. Created as a European alternative to the then-dominant Mt. Gox exchange, Bitstamp targets the higher end of the crypto trader market. Although accessible for beginners, the platforms boast many advanced features, decent liquidity, and competitive trading fees. Bitstamp is a strong choice for crypto traders looking to enhance their strategies using scripts, automation, and bots.

3Commas is a crypto trading management platform that offers an advanced interface for a large number of supported major cryptocurrency exchanges.

Using the 3Commas interface and an API key from Bitstamp, users can build a variety of algorithms to automate crypto trading strategies, including long, short, composite (multi-pair), and QFL (Quickfinger Luc) bots.

All 3Commas automated tools can be back-tested extensively directly from the platform.

Users can also deploy successful crypto trading algorithms developed by other clients.

Access to platform features depends on the chosen plan. Choose one that best suits: starter, advanced or professional.

The Advantages of a 3Commas Bitstamp Trading Bot

The 3Commas interface supersedes its competitors for its range of automation tools and simple, easy-to-use, and intuitive layout.

Other trading algorithms and their development tools are either too simple to be useful or too complex for anyone who is not a computer programmer. 3Commas has perfected its algorithm development interface to be the best option on the market, regardless of user background or level of experience.

Bitstamp has a competitive flat trading fee of 0.25% that declines with the user’s monthly crypto trading volume.

✔ Bitstamp automated trading bot by 3Commas✔ Smart Trading terminal and Auto Trading bots | 3Commas

Bitstamp Automated Trading Bot by 3Commas  | 3commas.io

The 3Commas Bitstamp trading bot offers an advanced management interface for all crypto trading needs on the Bitstamp exchange. With 3Commas’ cutting-edge trading bot, users can develop personalized automated trading strategies using a range of advanced order types currently unavailable on Bitstamp.

Gain access to hundreds of thousands of traders and enjoy unrivaled exposure on the 3Commas marketplace.

A preferred instrument among experienced traders, Futures Trading is a market-neutral strategy that can be implemented to profit from either direction of the market. By allowing users to speculate on the future price of cryptocurrencies, derivative contracts can represent the true value of an asset. Ultimately, traders can buy or sell assets at a predetermined price and at a specific time in the future. The buyer of the contract is obliged to buy the asset when the contract expires, and equally, the seller must provide it.

Due to the volatile nature of cryptocurrencies, the significant price fluctuations can either deter traders from investing, or be the secret weapon for making serious gains. Providing a unique opportunity to make profits regardless of the market’s direction, price increases can boost future traders' portfolios - but when the market goes red, traders can go short. 

Often deployed as a protection against spot markets, derivative contracts can be sold high and bought low to profit from price differences. Futures trading disregards the concern for bullish, bearish or stagnant cryptos due to the big gains that can be made from small fluctuations. 

Being one of the biggest and most popular crypto brands, Binance Futures has received favorable reviews from the crypto community at large. Proving just as smooth and simple to use for traders already using the Binance Spot Exchange, users will find the transition to the Future’s platform relatively straightforward. Users can trade over 90 contracts with a leverage up to 125 times (more than any other major platform), funding is only possible with USDT, and fiat deposits can be made through an easy payment method. The maximum fee on Binance Future is 0.04% on any trade. The fees are lower for maker trade or large monthly trading volumes. The Binance Futures fees are 0.04% for market orders and 0.02% for limit orders. The fee decreases the more you trade, starting at 250 BTC of trading volume per month and owning at least 50 BNB.

A wide range of indicators and tools for technical analysis

Available on both the App Store and Google Play

Platform compatible with Mac and Windows for PC

Provides Futures, margin, spor, PTP and OTC trading

Two Future platforms offered: USD and Coin Futures

Payment methods: SEPA Bank transfer, Credit Card and more

Built-in wallets for all cryptocurrencies

To set up an account, users must first have an account with Binance Exchange

Click ‘Open Account’ to the Bianance Futures interface

For users without a Binance account, a registration must take place. To do so, click here and fill in the required information, agree to the Terms and Conditions and wait for the activation code and follow the instructions. Then follow steps 1 to 4 above. To deposit fiat or crypto into the platform, users must fund their USDT Futures Wallet by clicking ‘Buy Crypto’. 

Previously, external bots needed to be integrated into each traders’ exchange accounts, causing many problems and proving difficult to track across multiple platforms. By removing this friction by introducing automated trading and bots, users can release themselves from hours of tiring efforts and continual execution.

Users must first link their external exchange accounts with the 3Commas platform. Even if users don’t plan on using an automated bot, it’s a great place to analyze and access multiple coins and accounts at once. However, deploying a bot, whether a customized one, or with a pre-set strategy, on the 3Commas platform is the best way to mitigate risk across all crypto currency exchange accounts. By removing the arduous process of repeatedly logging into each exchange one-by-one and instead setting up a single order on the 3C portal ensures accurate execution of chosen orders under predefined conditions. 

Once all applicable credentials have been input, the user can head to the “My Exchanges'' section where they will find the “Connect to a new account” button. Here, users will then paste the API key extracted from the gate.io platform to allow 3Commas permission to execute trades on the users’ behalf. 

Connecting Binance Futures with 3Commas: how to create API keys 

Users beware that Binance API keys are only valid for 90 days, which means that users will have to update their API keys’ permissions to continue using 3Commas in conjunction with their Binance account. This only takes a few minutes. For accounts that have not completed intermediate verification, will result in the existing API keys being deactivated on 2021-08-23 00:00 AM (UTC), and trading via API connection is restricted.

Step 1: Go to Binance, log in or create an account. 

Step 2: Users must have a Binance Futures account.

Step 3: Hover over the Wallet button and click on the Futures menu item.   

Step 4: Hover the profile icon in the top right corner and click ‘API Management’

Step 5: Name the key - this helps manage keys when there are multiple 

Step 6: Click ‘Create API’ and enter the 2FA codes 

Step 7: Edit the API restrictions any enable needed permissions except for ‘Enable Withdrawals’. Click save

Step 8: Do not select ‘Restrict access to trusted IPs only’ as 3Commas leverages various IP addresses

Step 9: Click ‘Ok’ to confirm. The key will expire in 90 days. This means that every 90 days, Binance will automatically uncheck API key permissions. Users will have to re-enable these settings by editing the API key on their Binance account directly and re-check all permissions selected in the previous steps. Users do not need to create a new API key, Secret and re-link this to 3Commas every 90 days.

Step 10: Connect the exchange to 3Commas to do so, follow the below steps. 

Go to ‘My Exchanges’ under the 3Commas dashboard

Choose a name as to recognize the exchange account as multiple can be linked

Enter the API Key and Secret Key - best to do this with two browser windows open to streamline the copy and paste process

Make sure not to link the same API more than once. This often confuses users during trading as it will show more available funds than accurate

Add the passphrase - if users don’t see this prompt, the exchange doesn’t require it, so don’t worry. If it does, then make sure to know the unique code for the API as they are all different. 

Once all boxes are filled, click ‘Connect an exchange’ the statistics page will show when it connects

2021 saw the cryptocurrency market explode as trust in the global financial system waned and new money policies contributed to rampant inflation. 2022 is predicted to resume the bull market with major coins surging to new, all-time highs. As the company says: “one does not simply become the leading crypto exchange overnight. Instead, an empire is built one day at a time.” This sentiment has proven true; Binance offers a financial platform that offers a huge selection of cryptos, an enormous selection of trading pairs meaning traders don’t have to  worry about slippage, and provides an attractive low fee structure and a generous range of leverage for accounts with a balance of $0 to $50,000 - so traders of all holdings can grow their portfolio. However, trading futures holds its power in its ability to make profits regardless of the market’s direction as traders can sell high and buy low, or buy low and sell high to benefit from any price fluctuation whilst implementing different strategies. For best results, make sure to connect to the 3Commas platform to gain detailed analytics and insights, the best automated bots and a safe place to manage all your crypto transactions, currencies and trading in one place! 

✔ Binance Futures Trading Bot by 3Commas ✔ Smart Trading terminal and Auto Trading bots | 3Commas

Binance Futures Trading Bot by 3Commas

A preferred instrument among experienced traders, Futures Trading is a market-neutral strategy that can be implemented to profit from either direction of the market.

Binance.US is the American partner of the world’s leading cryptocurrency exchange, Binance. The original platform stopped accepting U.S. users in 2019, and instead announced it would partner with a U.S. based version. Three years later, and the exchange is inciting investor attention predominantly due to its lower fees and reputable brand.

Offering over 60 cryptocurrencies to choose from, Binance.US is recognized for its easy-to-use buy/sell option for beginners, more in-depth advanced options for professionals and discounts for high-volume traders. However, the company has been under scrutiny and regulatory pressure for it’s concerning history, in particular related to money laundering. In June 2021, the FCA banned Binance in the UK, along with Ontario (Canada), China, Europe (for derivatives trading), Malaysia, Japan and Thailand. Whilst Binance.US is available for users in the United States, not all states are included. Connecticut, Hawaii, Idaho, Louisiana, New York, Texas and Vermont are excluded. 

Users can access the platform via an online dashboard or through the mobile app available on iOS and Android. Instant purchases can be made with a debit card, or through depositing fiat currencies via wire or ACH transfer directly into the account. Crypto wallets can also be connected for crypto deposits. To purchase or sell crypto, users can click on the “Trade” button to view market performance or make trades. 

Whilst buying crypto is relatively straightforward on Binance.US, trading can often overwhelm users. The basic trading dashboard offers detailed candlestick charting, live order books, real-time pricing, access to historical orders and multiple order types. The Advanced option offers more order types, as well as a selection of charting tools and integration with TradingView, a popular charting tool. Binance.US offers an OTC (over-the-counter) portal so that buyers can negotiate trades directly with sellers, but this is only available for trades exceeding $10,000. 

Although operating without a native “hot wallet”, the platform recommends deploying the free service: TrustWallet to allow users to deposit and withdraw crypto from most popular digital wallets - but users must beware that in the instance any issues arise, Binance.US may not offer any support. 

Whilst the Binance.US portal experience is marketed towards users of all abilities, it is naturally better suited to more advanced traders as beginners have cited feeling frustrated and overwhelmed by the exchange’s features and tools. 

Binance.US attracts many users for its low trading fees. Whilst competitors have fees ranging from 0.50% maker/taker fees, on Binanace.US the fees range from 0 to 0.01% with instant buy fees costing 0.50%. Users who hold BNC also get 0.25% trading fee discounts. However, despite the low trading fees, debit card fees are relatively high at 4.5%. Traders would benefit most from depositing funds via ACH or wire transfer as both options are free, although withdrawals from wire transfer cost 15 USD for domestic and 35 USD for international transfers. There is a minimum trade price of $10.

Security: offering industry-standard security features that include users verifying their identities to buy, sell, or trade crypto. Whilst the identification process can be arduous, it’s worth it to protect from fraud and other illegal activities. Users must also set up multi-factor authentication, with facial recognition an option for mobile. Crypto wallet addresses can also be whitelisted and devices used to log in via the dashboard can be easily viewed. 

Customer service: commonplace among many exchange portals, Binance.US offers limited customer service options. Users can submit a form or engage with a chatbot on the support page, but there is no phone call option, or email to engage in direct communication for immediate assistance with the user account. 

Step 1: Open Binance.US and click “Get Started” in the upper right hand corner

Step 2: Enter the email and phone number you’d like to associate with the company

Step 3: To buy, sell and trade, basic personal information is needed with a copy of a government-issued ID

Step 4: It can take weeks and even months to get verified, so be prepared to exercise some patience

Connecting Binance.US with 3Commas: How to Create API keys

Step 1: Open your 3Commas dashboard
Step 2: Go to Binance.US in a new tab
Step 3: Log in or create a new account
Step 4: Whilst in the Binance.US, click on the profile menu dropdown and select “API Management”
Step 5: Click on “Create API” and name the key - this helps to manage keys when you have multiple set up
Step 6: Click “Create” and then complete the 2FA process
Step 7: Edit restrictions and ensure the following items are selected: Can Read, Enable Spot Trading, Unrestricted. Do not select “Enable Withdrawals or Restrict access to trusted IPs only
Step 8: Before saving changes, make sure to copy the API keys somewhere safe. The keys are required to connect the exchange to 3Commas and become hidden after creation to ensure safety. If you forget, you will have to create new keys. 
Step 9: Add Binance.US API Key to 3Commas by heading to the 3Commas dashboard and clicking on the dropdown menu
Step 10: The system will automatically detect the API keys created on Binance.US 
Step 11: Connect the exchange to 3Commas to do so, follow the below steps. 

Offering a low-fee option for U.S. traders, Binance.US is best catered to more experienced traders looking for low fees. However, traders with less knowledge would certainly benefit from the platform’s extensive educational resources. Only offering a limited selection of cryptocurrencies in comparison to other exchanges and unable to support margin for futures trading, some investors may be better off trading elsewhere - especially for users situated in the states with no access to the platform. Whichever exchange users invest in will experience most success when they deploy a bot. For best results, make sure to connect to the 3Commas platform to gain detailed analytics and insights, the best automated bots and a safe place to manage all your crypto transactions, currencies and trading in one place! 

✔ Binance US Trading Bot by 3Commas ✔ Smart Trading terminal and Auto Trading bots | 3Commas

Binance US Trading Bot by 3Commas

Founded in 2014 by the notorious Winklevoss twins, Gemini is built for both individuals and institutional investors. Offering their own stable coin, great liquidity, rigorous security standards and a reliable API, Gemini aims to create the best experience for all types of users from speculators to professional crypto traders. Users can buy, store and sell cryptocurrencies through Gemini’s web-based platform, highly rated app, or active trading platform. Operating as a purely digital currency exchange and custodian, Gemini does not offer stocks, options, or other types of investment. 

For traders looking for a user-friendly platform with a great mobile app to buy, store and sell cryptocurrencies, earn interest on unused crypto balances and spend individual cryptocurrencies at real-world merchants, then Gemini is a great option. Adhering to strict safety protocols, Gemini stores the majority of assets offline in ‘cold storage’ (not on the internet) making it extremely difficult to hack. For the small proportions that are held in a ‘hot wallet’- online and readily available - is insured against theft and fraud. However, the insurance does not cover losses resulting from unauthorized access to user’s accounts (for example if someone guesses another user's password). However, two factor authentication and the ability to restrict withdrawals to pre-approved addresses is required. 

Providing advanced charting capabilities and many crypto-to-crypto trading options, Gemini’s professional platform, ActiveTrader and the Gemini Clearing Platform is preferred by advanced traders looking for OTC peer-to-peer trades with no minimum trade size with additional security, anonymity or lower trading costs. Unlike most crypto exchanges, however, individual users can withdraw most cryptocurrencies up to 10 times per month for free. 

Make in-store purchases with thousands of participating retailers through Gemini Pay. Users can choose between Bitcoin, Ethereum, Litecoin, Zcash, Bitcoin Cash or Gemini Dollar - an in-house stablecoin pegged to the U.S. dollar to save customers from converting into fiat currency themselves. Gemini Pay is currently limited to a maximum of $250 of transactions per week, and whilst there are no transaction fees using the payment platform, shoppers are creating a taxable event that may result in capital gains taxes - if the crypto is worth more when you use it than when you first purchased it. If it’s worth less, this could potentially result in valuable capital loss. 

Earn interest on selected crypto holdings - similar to a traditional savings account - with Gemini Earn. Lending primarily to institutional investors between 1.26% and 7.4% APY (rates subject to change and inclusive of an agent fee) with interest paid out daily, these exceptionally high APYs can be attractive during a time of historically low interest rates. But unlike fiat money, the coins a trader loans out are not insured by the Federal Deposit Insurance Corp (FDIC). Whilst  some of the rates for stablecoins are tied to fiat currencies and therefore fluctuate less than other cryptos, many coins also experience large price swings which leaves traders vulnerable to losing money in pursuit of a higher interest rate. Withdrawals from Gemini Earn may also take up to five business days to be removed from the Earn platform and credited to  the regular Gemini account. 

Charging a fee structure that includes a convenience fee which is included in the quoted price of whatever cryptocurrency you’re buying and typically is marked up by 0.5% over the quoted price for buy orders. The transaction fee depends on the currency used and the size of the transaction. For U.S. dollars, both the mobile and web orders are as follows: 

A separate fee schedule also applies to orders placed through Gemini’s ActiveTrader platform - which can be significantly less expensive for traders who have high trade volumes (in the millions plus). Although it’s free to deposit money into Gemini accounts through ACH, wire transfer or transfers of cryptocurrencies from external accounts, debit card deposits have a relatively high 3.49% fee. Withdrawals from Gemini’s platform are mostly free - setting it apart from other platforms, but if a trader needs to make more than ten withdrawals a month, fees can apply which vary depending on the crypto. 

Trader fees: Charged by certain types of deposits or withdrawals from the exchange. Wire transfer deposits are free, but debit cards incur a 3.49% charge. Withdrawal fees are variable but are only charged after ten withdrawals are made in the same month. 

Trading fees: Fees vary depending on whether trades are made on the website, mobile app, Gemini API or on the ActiveTrader platform. Additional convenience fees can occur in some cases.  

Custody fees: Covering the cost of crypto storage in a Gemini Custody account - a highly secure storage solution intended for institutional investors. 

Agent fees: Charged for cryoto that is earning interest in Gemini Earn. Fees are automatically deducted from the listed APYs in the account.  

Offering over 70 cryptocurrencies from native coins such as bitcoin, to a limited selection of crypto-to-crypto trading pairs. However, the majority of tokens are ERX-20 which are built on the Ethereum blockchain, meaning that several popular currencies are not available, including Solana (SOL), Cardano (ADA) or Avalanche (AVAX).

Users have two options: signing up for a personal account or an institutional one. Personal accounts are for traders looking to add a personal bank account and institutional accounts are recommended for traders looking to add a business bank account and/or trust account. To register, click here and head to ‘Get Started’. Users will then have to answer an onboarding questionnaire where a member of the Gemini team will contact applicants to go through the next steps. Required documentation includes proof of identity. For U.S. applicants, that includes a valid state-issued ID, driver’s license, passport, passport card or Permanent Resident Cards (Green Cards). For international applicants, this includes a passport from the applicant’s country of citizenship, national ID and/or driver’s license from the country of residence registered with the Gemini account. 

Connecting Gemini with 3Commas: How to Create API keys

Step 1: Go to Gemini. Log in or create a new account. Please note that traders must complete the Gemini verification process in order to complete API keys.  

Step 2: Click the ‘Account’ tab in the top right hand corner of the page and proceed to ‘Settings’. 

Step 3: Open the ‘API’ Tab on the left sidebar menu and proceed to click ‘Create API key’. After clicking, a message will appear to complete 2FA. Enter the 2FA code after it’s enabled and click ‘Submit’.

Step 4: On the ‘Create API Key’ dropdown menu, select ‘Primary’ for an individual account. Select ‘Master’ to use this API key for multiple accounts. 

Step 5: Name the API Keys to help manage keys. Make sure to save both the API Key and the API Secret somewhere safe (you will not see it again) - this is needed to connect to 3Commas. 

Step 6: Enable Trading Permission and put a check-mark in API secret acknowledgement, then click ‘Create API Key’  

Step 7: Add Gemini to 3Commas. To find out how to connect any exchange by using an API key on the 3Commas platform, please click here. 

According to CoinMarketCap, Gemini is one of the top 15 crypto exchanges and is known for its high-level security, availability across all U.S. states, including New York (a frequent omission from crypto exchanges) and is beginner-friendly - albeit expensive. To best manage your crypto portfolio, we recommend using the 3Commas platform to gain detailed analytics and insights, the best automated bots and a safe place to manage all your crypto transactions, currencies and trading in one place! 

✔ Gemini automated trading bot by 3Commas ✔ Smart Trading terminal and Auto Trading bots | 3Commas

Gemini Trading Bot by 3Commas

3commas is a trading software that sits between users and the exchange. Offering numerous innovative trading features, 3Commas allows users to build their own portfolio and custom bot which can be tested and deployed across multiple leading cryptocurrency exchanges. 

Connecting with one of the fastest growing crypto platforms in the world, Gate.io prides itself on providing a comprehensive and safe trading exchange for traders of all abilities. Founded in 2013, Gate.io currently sits amongst the top 10 cryptocurrency exchanges for both quality crypto assets and for offering high rates of return. 

Despite publicizing that it is an exchange for traders of varying ability, inexperienced traders may feel overwhelmed and frustrated by the platform - particularly regarding the inability to deposit fiat currency to buy crypto directly. If users do not already own coins, they will need to use another exchange to buy crypto and transfer it onto the platform before trading can commence. Recently, however, Gate.io introduced the possibility of buying crypto via third-party partners using debit or credit card payments in fiat currencies, but this process involves incredibly high fees. Traders and investors preferring to buy crypto in fiat currency would be better served by alternative platforms such as Binance or Coinbase which offer easier and cheaper options.

However, gate.io’s range of tradable coins and competitive fees often attracts advanced traders looking to chase lesser-known coins on a centralized exchange. Traders should be aware however, that the platform is limited to spot trading only, meaning that margin, futures and options trading, as well as crypto lending and staking are unavailable, with some coins not accessible in certain locations on gate.io’s whitelists. 

Although boasting a huge selection of available crypto currencies, some may not be available based on location. The platform's native currency, GateToken (GT) however, offers worthwhile discounts and privileges for GT holders. Beginner traders will struggle to deposit funds as fiat currency is not possible which could be overwhelming for new investors, and is currently not available in New York or Washington. 

The GateToken (GT) entitles users to trade discounts based on their holdings, if they intend to use it to pay for trading fees and may grant traders access to special activities like initial coin launches. 

Gate.io security has intensified since the 2019 hack. In August 2020, a third party evaluation of the exchanges cyber security by the Cryptocurrency Exchange Ranking (CER) listed gate.io as the best exchange for cybersecurity. Since then, their ranking has fallen, but their security protocols include two factor authentication via SMS and email, the requirement of users to create a distinct password to remove funds from their account and the launch or a bug bounty - which rewards users who report bugs and vulnerabilities. Gate.io also holds some assets in cold storage which is disconnected from the internet to reduce hacking risk. 

Automated trading or strategy can help users trade 24/7 without intervention. For a simple set up, users can create a bot by opening the Basic panel, clicking on the ‘fill the form on the right side’ and let the interface automatically populate the most optimized upper/lower price limits with the best returns over the past week. Then, users click “Create Manually” and the system will initiate the bot. It’s really that simple! For advanced traders looking to customize their trades to better suit their needs, can also deploy a Grid Trading strategy. Besides defining price limits, traders can choose the number of grids, amount to sell per grid, amount of funds to deploy, the auto-stop loss, auto take-profit and more across the professional panel on both Spot and Futures Trading options. 

After log in, click the settings tab to enable two-factor authentication to further protect your account. 

Download the authentication app to your mobile or desktop. 

Create an account with the distributed KEY.

Enter the code generated by the app on the TOTP blank.

To disable two factor authentication, head to settings, two factor authentication and click disable with the valid TOTP. 

When logging in next time, you will see a page titled: User login - 2nd Step after entering email and password correctly. 

There, enter the TOTP code to complete log in. 

By way of verifying user identities, gate.io also requires a Know Your Customer (KYC) pass (as standard for many crypto exchanges) before users can deposit or withdraw any crypto. This is to decrease the risk of funds being used for illicit transactions or for money laundering purposes. It’s important to remember that crypto is an extremely volatile asset class with significant price fluctuations, and that the exchange platforms are not immune to hacking. In 2019, gate.io suffered a high-profile hack resulting in over $200,000 loss in crypto assets, however half was later recovered.

Spot trading fees use a maker-taker model with users paying varying fees depending on if an order takes liquidity away from the exchange. If that is the case. Spot traders are charged a taker fee - or have more liquidity added to the exchange. Traders have no advanced insight as to whether an order will be a maker or a taker. Discounts are applied based on how many GateTokens (GT) the trader holds (gate.io’s native crypto token), or how much the user trades. Fees can be reduced by opting to pay for trades using GT. For more information, click here. Similar to most crypto exchanges, withdrawals trigger a fee that varies depending on which crypto the trader seeks to withdraw. However, the proportion decreases as the withdrawal increases. 

Supporting ober 1,200 cryptocurrencies, traders should find almost any coin of interest. For the full list, click here. Top coins include: 

Connecting Gate.io with 3Commas: how to create API keys 

Step 1: Go to Gate.io. Log in or create a new account on https://www.gate.io/.

Step 2: Open account dashboard and hover over the profile icon on the top right corner, then click on the API Management option.

Step 3: Follow to API and click "APIv4 Keys" on the left side menu: "+ Create New API Key":

🛑Please Note: Perpetual Contract must be enabled with Read And Write access to trade futures. If you have an existing API Key without this enabled, you must edit it or create a new key with the feature enabled before you can trade futures. Your Gate.io Contract Account must have USDT to trade USDT-Perpetual Futures or BTC to trade BTC-Perpetual futures.

Step 5: Enter fund password and other security codes:

Step 6: Your new API Key and Secret will be displayed. Keep this browser tab open and open (or switch to) your 3Commas "My Exchanges" page.

Step 7: Copy and Paste the API Key and Secret to 3Commas. If you've not connected an exchange to 3Commas before on the "My Exchanges" page, please follow this guide to complete linking Gate.IO: Check how to connect API to 3Commas.

REMINDER: If you intend to trade Futures with Gate.io, please ensure you have a little BTC and/or USDT transferred to the respective BTC Perpetual and USDT Perpetual wallets before you link to 3Commas, or you may see this error message:

Gate.io is a great exchange for more advanced traders looking to expand their portfolio and automate their trades. For the best outcome, however, we recommend traders to connect their gate.io account to their 3commas account for full autonomy of all their accounts, build a centralized portfolio and deploy the fastest, most accurate bots with specialized analytics. If you are a trader that already has a gate.io account, then sign up to 3Commas and add your exchange quickly and easily following the above instructions. If you do not yet have a gate.io account, click here to register your account and get started today. 

✔ Gate automated trading bot by 3Commas ✔ Smart Trading terminal and Auto Trading bots | 3Commas

Gate Trading Bot by 3Commas

3Commas is a trading software that sits between users and the exchange. Offering numerous innovative trading features, 3Commas allows users to build their own portfolio and custom bot which can be tested and deployed across multiple leading cryptocurrency exchanges.

The falling market offers opportunities to profit. Here are some ways to benefit from a downtrend:

If you trade futures, you can benefit from the downwards movement by opening a SmartShort.

Take Profit should be set below the current price, and there can be several Take Profits! Profits will be delivered in batches. 

You can use leverage to increase profits, but be careful as high leverage could lead to a liquidation that will wipe you out.

You can use Trailing to enter a position at a better price. 

Stop Loss is used to protect the position from liquidation. With a Stop Loss is enabled, you can use the trailing or breakeven function. If the price does not reach a take profit and reverses, the trade will still be closed at a profit or no loss.

If you are trading on the spot market, you can use Smart Cover. This tool allows you to sell an existing coin and buy it back cheaper in increments as the price moves down. This way, you will have a better average entry price, and when the market turns around, you will be able to sell the coin at a higher price.

All of the features described above are also available here.

In the terminal, by selecting a futures exchange, you can also open a short position, set an unlimited number of orders to increase short positions (averaging), a number of orders to fix profits (take profit), and limit losses (stop loss).

By selecting a spot exchange account, you can place a grid of orders to buy a coin cheaper, and after the orders are executed, you can place a grid to sell the purchased coin at a higher price.

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Spot trading existed in traditional markets long before the first cryptocurrency was established. It’s a fundamental idea for any trader who is just getting started in the world of trading. If you want to know what is spot trading in crypto, this article will be helpful to you.

A spot market is a market with special terms of settlement between participants in a transaction. The operations on such a market are called spot or cash transactions. Buyers and sellers conclude different deals considering the asset’s market price. 

The clearest example of the spot market is Forex  —  the international currency exchange. In addition to dollars, euros, and other fiat currencies, there are pairs of valuable metals, cryptocurrencies, futures, oil, indices, and others. The primary feature the spot market has to offer is the instant emergence of property rights. 

Spot trade is a type of payment that is executed within a short period, not more than three days. Spot literary means cash, even though the majority of these transactions are conducted non-cash. The market for currency conversion transactions is called the spot market.

In spot trading, all transactions are made directly between buyer and seller. Each trader has the right to place an order, to buy or sell the asset or accept an order from another market participant.

Spot buying is the process of buying an asset on a spot market. To do spot trading, both parties have to meet two general conditions: 

the one who sells the asset is its full owner until the transaction is closed

the one who buys the asset becomes its rightful owner after the transaction is closed

The rate at which the exchange is made is called the spot rate or the spot price. Another important point to consider is that traditional markets use a fiat account to buy and sell assets. Whereas on the Binance cryptocurrency exchange, it’s possible to directly exchange one asset for another. For example, Bitcoin to Litecoin.

Sometimes traders talk about spot trading vs instant buy, but the terms are interconnected. On Binance, you can buy crypto on the spot market instantly; it involves instant delivery in the market on a particular date. The fee for instant buy/sell is 0.5% per transaction instead of a 0.1% fee per slide for spot trades.  

The main feature of a spot market is real-time pricing—all the prices you see on the market update instantly. If someone has matched the order, the prices will change right away, displaying the current state of the market. 

Over-the-counter spot trading works differently. As opposed to spot trading on the exchange, you can perform a transaction without an order book. Once you agree with another party, you can set the amount and price directly. 

Although payments on spot trades are immediate most of the time, some transactions offer deferred payment. In this situation, the spot value date is when money is transferred for the transaction. There are the following types of payments:

Depending on the asset, delivery might be instantaneous or within the transaction date plus two business days. Previously, a 2-day frame was enough to cover the transfer of physical certificates, wire, or deposit. Nowadays, there is no need for such transactions. As a result, traders don’t have to wait two extra days.

When it comes to trading crypto, the markets are open 24/7. You can enjoy almost instant operations. Transactions may take a little longer for Peer-2-peer trading (P2P), also known as over-the-counter trading (OTC).

There are also swap trades, which are executed when a trader does not terminate a position on the same day but keeps it open for multiple days. In this instance, the broker manages transactions following the so-called overnight transition. The essence of swap operations is to sell the current spot and repurchase it. This twofold method might have both favorable and harmful consequences for the trader.

There are two major types of contracts on the spot market:

Delivery contracts. You get the assets at the end of the deal.

Non-deliverable contract. You don’t get the assets at all. For example, operations on the currency spot markets are non-deliverable. Otherwise, the operations would be unprofitable. Brokers have an opportunity to earn on the spreads.

The price of the identical goods on the exchange may change over time. Say you buy an asset for $100 today. A month later, the same asset may cost you $50 or $200. If you need an asset right away, you can make a spot purchase; in this case, it will be delivered in two days. The price you paid is the spot transaction or simply the spot price. 

To understand a spot market, let’s look at the best features it can offer to traders.

Spot trading is cheaper relative to the futures market. Prices rely on supply/demand, so you can see why the prices change. 

The spot market is straightforward. You can calculate your risks within seconds. All the rules, rewards, and risks are easy to understand. There is no need to worry about a margin call or liquidation. If you invest on the spot market, you can predict your risks based on the current price and entry. 

The spot market is volatile and allows speculators to make good profits.

Due to the instant execution of contracts, the spot market has high liquidity. 

You can enter and exit a trade at any time. Unless you short your assets, you don’t need to worry about checking your investment. 

Lower potential gains compared to other markets. You can use leverage to trade more significant positions. However, using leverage increases the risk.

Price "slippage" on the peak volatility, which can bring big losses to the trader.

The state does not regulate the market; the risks are on the trader's shoulders;

You take responsibility for the assets you hold. Holding tokens/coins, for example, means that you have to make sure your crypto wallet is reliable and secure.

A derivative is a contract between the parties that obligates them to mutually fulfill their underlying asset obligations. It can be a commodity or precious metal, a currency or bond, a stock, or a stock index  —  basically, any valuable asset, including crypto assets. 

Let’s define the most popular derivatives. The most common types of derivatives are the following:

What they all have in common is that the delivery of cash (if delivered at all) takes more than two days, while the spot market requires simultaneity of the transaction and the instantaneous emergence of the buyer's title to the asset. The process takes no more than two days.

Derivates can be used to hedge, speculate and diversify an investment portfolio. Like any other financial instrument, traders can benefit as well as lose their capital. 

For example, an investor buys a futures contract to deliver Bitcoin in September at $60,000. In other words, the seller agrees to provide Bitcoin to the buyer in September, and the buyer agrees to pay $60,000 for it. In August, Bitcoin declines rapidly, and its delivery in September becomes unprofitable. What can a trader do? 

Hedge (protect) the futures with the derivative XBTUSD by opening a sell trade. Let's assume that by the time of delivery, the Bitcoin price has fallen to $40,000, bringing a loss to the trader. However, opening a short position on the derivative brings the trader a profit of $20,000 or more if leverage is used. Meaning, the trader can protect himself from a loss on the futures contract or even make an additional profit on the hedge.

Investors can use special orders to manage risks when trading derivatives, such as stop-loss or trailing stop, to protect the position from a sudden price reversal. Various order types are available to traders on the Binance trading platform to preserve capital from losses, lock in profits, and enter the market at the right time.

The most popular cryptocurrency derivatives are contracts for the most liquid coins. For example, Binance allows traders to trade the following assets:

USDⓈ-M Futures. Perpetual or Quarterly Contracts settled in USDT or BUSD.

COIN-M Futures. Perpetual or Quarterly Contracts settled in Cryptocurrency.

Binance Leveraged Tokens. Enjoy increased leverage without risk of liquidation.

Binance Options. Limited risk and unlimited profits.

The volatility of cryptocurrency markets combined with leverage can lead to losses even for experienced traders. Before trading cryptocurrency derivatives for bitcoin and other digital assets, you should perform technical analysis, including the use of various indicators: RSI, MACD, Elliot waves, Fibonacci tools, etc.

Investing in derivatives requires a deep understanding of how they are structured and how they work. Since the international derivatives trading market is worth trillions of dollars, there are bound to be scammers who will try to profit from the incompetence of novice investors and traders. Because cryptocurrency derivatives are highly volatile, remember the old wisdom of not putting all your eggs in one basket. Use derivatives as a hedging or diversification tool to accompany your spot trading strategy, not just as a speculative tool to make a quick buck.

Once you click on Classic, you’ll see a simple and easy-to-use interface. It contains sections that can be helpful for traders. 

You'll now see the classic trading view, which contains a few different sections of interest.

The BTC/USDT area lets you choose any cryptocurrency pair available at Binance. You can select a pair to trade on the spot market. Many pairs are available; you can choose crypto-fiat or crypto-crypto pairs to trade. 

TradingView is the most extensive section on the screen is the chart showing you historical price data. You can use any technical analysis tool to predict the price of an asset and build your trading strategy in advance. If you feel like learning more about TradingView, make sure to check educational material related to TradingView on Binance.