Let's take a look at the recent regulatory updates: 📜

🚀 Binance Resumes Crypto Buys via Mastercard: Binance has reenabled the buying of crypto using Mastercard. 💳

🔄 CryptoUK New Travel Rule for Crypto Businesses: The new rule requires crypto businesses to share information on digital assets transaction details with other crypto companies. 🔐

💼 Paxos International to Launch a Regulated Interest-Paying Stablecoin: Paxos will issue a new regulated stablecoin called Lift Dollar (USDL). The interest-bearing stablecoin will be regulated by the Abu Dhabi Global Market (ADGM). 🌐

📖 Read the full blog here

💥 Arithmetic vs Geometric Grid Bots: Ultimate Showdown! 💥

🤖 Grid Bots are taking the crypto trading world by storm! These automated trading tools implement the coveted "buy low, sell high" strategy effortlessly.

But which one reigns supreme? 🏆 Arithmetic or Geometric Grid Bots?

1.- Arithmetic Bots:
- Fixed price steps for consistent intervals.
- The step is determined by the value of the price change in the quote currency.
- Order size is determined by volume value of base currency.

2.- Geometric Bots:
- The step is determined by a percentage value of the price.
- Order size is determined by volume value of quote currency.
- Trailing up capitalizes on uptrends.

So which bot fits your trading style? 🤔 The steady arithmetic rhythm 🎵 or the geometric growth trajectory? 📈

Choose wisely and let the grid bot battles begin! 💥🤖💰

🤖 Read more

DCA Bot Safety Orders - What You Need to Know About Step Scale and Volume Scale 📊📉

Safety orders are an important part of managing risks with your bot trades 🤖. Here’s a quick refresher on how step scale and volume scale settings work on your DCA bots:

📈 Safety Order Volume Scale

This setting multiplies the volume of each new safety order.

For example, you have a bot with a safety trade size set to 0.1 BTC with a scale of 2, meaning they double each time. If the scale is 3, they would triple.

1.- SO1 is 0.1 BTC.
2.- Multiply it by the scale. So SO2 would be 0.1 * 2 = 0.2 BTC.
3.- SO3 would be 0.2 * 2 = 0.4 BTC.
4.- Then SO4 is 0.4 * 2 = 0.8 BTC
5.- Etc.

With this tool set, traders with a very big appetite for risk can also run the Martingale strategy 🎲. This involves a trader doubling their trade size after each consecutive loss. The goal behind this strategy is to recover all previous losses with a single winning trade that is substantial enough to cover the accumulated losses. This is a very high-risk strategy, so traders should exercise appropriate caution before employing it ⚠️.

📉 Safety Order Step Scale

The scale will multiply each step by a percentage.

Example: You have a bot with a safety order price deviation of 1% and a scale of 2. Here’s how it would work:

1.- For SO1, the deviation is 1%, meaning we go down. 0 + -1% = -1%.
2.- For subsequent safety orders, we multiply it by the scale, so the new step will be 1% * 2 = 2%. SO2 will look like this: -1% + -2% = -3%.
3.- Multiply the previous step % by the scale and you get: 2% * 2 = 4%. SO3: -3% + -4% = -7%.
4.- Keep following this pattern, and you have Step: 4% * 2 = 8%. SO4: -7% + -8% = -15%.
5.- Etc.

📚 To learn more about the mechanics and terminology of DCA Bots, we have an excellent article for you.

Fresh updates to the Multi Take Profit feature for DCA Bot!

We've improved the Multiple Take Profit feature for the DCA bot and want to share with you what we've enhanced:

1.- Creation of DCA Bot with Multiple Take Profit: We've refined the creation process of the DCA bot to include the Multiple Take Profit functionality along with the Convert Deals to SmartTrade feature. Now, if you wish to convert a DCA bot deal to SmartTrade, the multiple take profit levels will be correctly converted.
2.- Editing DCA Bots: Version one had occasional difficulties with editing DCA bots that used the Multiple Take Profit feature. We’ve resolved the issue.
3.- Improved Switching between Settings: We've enhanced the switching functionality within the deal closure settings. In the Take Profit section, switching between "Price change, %" and "Conditions" settings will no longer reset the configurations. This removes a point of frustration for users.
4.- Editing Deals with Multiple Take Profit: We've added the ability to edit deals with the Multiple Take Profit feature. You can now easily change the target levels for multiple take profit both in the bot and within the deal itself.
5.- Enhanced Deal Page: The deal page has been improved to make the different profit-taking levels more visible. Additionally, you now have the option to close part of the deal at market price without waiting for the price to reach the target level.
6.- Minor Fixes: We've fixed minor issues related to Multiple Take Profit functionality.

These improvements are aimed at enhancing your experience and providing more flexibility and control over your trading strategies.

Set up Multi Take Profit on your DCA Bot: https://app.3commas.io/bots

Make the trades you want with USDC Signal Bots on Coinbase Advanced

3Commas unveiled a significant update for our Coinbase Advanced users a while back featuring support for the USDC trading pair with DCA Bot. Now we’ve also added this functionality to our Signal Bot on Coinbase Advanced.

Now, if you select a USD_XXX pair on the Coinbase chart and send signals to your Signal bot with the USDC_XXX pair selected, the bot will automatically convert the signal to work for USDC and execute the action you've instructed, whether it's entering a trade, increasing or decreasing position size, closing, or reversing the position. How cool is that?!!!

The USDC pair is available in over 190 countries, offering our users more versatility in trading, leveraging the stability and liquidity of USDC across 230+ cryptocurrency pairs.

3Commas is committed to making your favorite trading tools available on as many exchanges as possible.

Launch a fresh multi-pair bot today: https://app.3commas.io/signal_bots

Binance has scheduled a Spot API update: no service impact expected

Binance is one of our most popular exchanges, so in case you didn’t see it, we’re posting an update Binance announced for their Spot API for June 18, 2024 at 05:00 UTC.

A few traders reached out to ask if this update will impact their use of 3Commas or if it requires them to do anything to prepare, fortunately no action is required.

As a reminder, any planned or unplanned maintenance that may affect 3Commas traders will be posted on our 3Commas Status Page - where you can subscribe to receive email notifications, too!

You can find the full announcement here

In our weekly updates, we’re going to focus on big news in the crypto industry. This includes news about regulatory changes, big price movements, and interesting new tools and projects.

Let's take a look at this week’s updates:

1.- Bitcoin ETFs Records $200m Outflows: The U.S listed spot bitcoin ETF records $200m in outflows, the second consecutive day of outflows driven by Grayscale's GBTC without any inflows.

Why it matters: ETFs experiencing net outflows higher than inflows can reflect a lack of investor confidence. However, given how new these funds are, it is possible some investors are pulling funds to invest in distressed assets in other markets.

2.- Polygon to Unlock 1B Tokens through new Grants program: Polygon has launched a new grant program to reward 1B tokens over the next 10 yrs to Polygon chain builders.

Why it matters: Polygon is promising to reward builders who add value to their ecosystem. So while they’ll be diluting the coin supply somewhat, in theory the value added to Polygon as a functional service should push up the price more than the increase in supply will lower it.

3.- Ireland Central Bank Grants VASPs License to Crypto.com: Central Bank of Ireland has granted virtual assets providers License to Crypto.com allowing it to offer crypto-to-fiat services.

Why it matters: Every time another crypto company gains official acceptance into the financial system of any country, it’s a win for everyone in the crypto space.

Read More

🚀 New Learning Opportunity Alert! 🚀

Ever wondered how pro traders navigate the crypto market? Check out our latest interview with a seasoned pro who shares invaluable tips and strategies. From using trading bots to risk management, get insights from one of the best in the game. Don't miss out on this chance to learn from a master!

📖 Read the full interview now and level up your trading game

Grid Bot Trailing Up and Expansion Up: What you need to know

Trailing Up
This feature is available for:
Spot Grid bots (Geometric type)
Futures Grid bots with Long strat (both types)
This feature allows your bot to increase the trading range, following the market when the price trends upwards out of your existing grid.

How does Trailing up work?

Once the price rises 2 steps above the High price of the bot, the lowest buy order is canceled and placed 1 step above the bot's High price. As the price continues to rise, this process is repeated with the lowest buy orders being canceled and placed one step above the previous high price.

Expansion Up
This feature is available for:
Futures Grid bots with Reversal and Short strategies (both Geometric and Arithmetic types).
This feature lets you expand the trading range upwards to follow the market.

Stop Expansion Up
Set the limit for the top price you want your grid to expand to.

How does Expansion Up work?
Expansion Up requires an additional investment since the bot does not cancel old Buy orders but places additional Sell orders above the bot's upper boundary.

As soon as the highest Sell order is executed, the bot will automatically place an additional Sell order one step higher without canceling the lowest Buy order. Thus, the user-defined number of lines will increase due to additional orders until the price reaches the Stop expansion up level.

To read the full details of Grid Bots, go here

🚨 Important: Upgrade Your KuCoin API Keys to v3! 🚨

Please be advised that KuCoin has started upgrading their API keys from v2 to v3. While some API keys have already been migrated automatically, manual updating is required for others.

Action Required:
🔎 Check your KuCoin API key version.
👉 Upgrade to a v3 API key, if you still have v2 API keys enabled.

KuCoin will disable v2 API keys in batches between July 1st and July 10th. Ensure your API key is updated before this period to avoid disruptions!

🔧 For useful information to check your key version and how to create a new v3 API key, refer to our help article

Thank you for your attention!

🚀 Smart Cover: the easy way to go Short!

Think a coin’s price is about to head south? Set up a Short position the easy way with a Smart Cover. It’s one of our Smart Trade features you don’t hear about much, but clever traders use it to exit a position and then buy back into that position when the cost of acquisition is cheaper.

🔹 Sell & Repurchase:
- Sell coins and rebuy at a better price.
- Set a sell condition and plan your repurchase price.

🔹 Use Cases:
1. Short Trade: Sell coins when value drops, rebuy lower, profit when value recovers.
2. Positive Sale: Sell when you think the price is near the top, repurchase after the price corrects.

🔹 Trade Conditions:
- Sell Condition: Initiates a sell order when the price matches your setting.
- Buy Conditions: Plans the repurchase of tokens with optional Take Profit and Stop Loss settings.

🔹 Examples:
1. Short Trade:
- Sell ETH at $2500, repurchase at $2400, Stop Loss at $2600.
2. Take Profit:
- Sell ETH at $2600, repurchase at $2550, no Stop Loss.

🔹 Trailing Features:
- Trailing sell, Take Profit, and Stop Loss options available to potentially maximize profits and minimize losses.

🌐 Read the full breakdown on how Smart Cover works here

Crypto exchange APIs: What you should know

Every reputable cryptocurrency exchange offers an API connection. For the uninitiated, an API allows users to communicate with the exchange programmatically, rather than through the web interface. It's like sending DOS commands rather than clicking on stuff in Windows, if you're old enough to still know how to use DOS command line.

All those clicks and dropdown menus you would interact with in order to set up a trade manually can be accomplished extremely fast via API commands. This is how 3Commas and other third party services interact with exchanges.

Other than speed, there are several other advantages. Websites, via webhosting services, can easily break. 3Commas bots send commands directly to the exchange server, bypassing the limitations of the website. If the server is up, we can send commands to it.

For traders running lots of bots and complex strategies, milliseconds matter and the API connection allows them to send a lot of commands with minimal latency.

Let us know in the comments if you'd like to see a full blog article devoted to how you can leverage APIs, including the 3Commas API, to make your trading time more productive.

Let's take a look at the recent crypto industry updates:

- Customers challenge FTX’s bankruptcy plans: A representative of the FTX Customers Ad Hoc Committee has said they want their cryptocurrency back rather than a cash plan from FTX.

Why’s it matter? Their lost crypto assets are likely worth considerably more now than they were when FTX collapsed. Taking the cash value at the time of seizure would be settling for less.

- Solana ETF: 3iQ files for Solana ETP (exchange traded product) in Canada which will offer exposure to the digital currency SOL and its price movement against U.S. dollars. More institutional support is always a good thing.

- Italy plans to fine market manipulators: In compliance with the new European Union’s Markets in Crypto-Assets (MiCA) regulatory framework, Italy has a new draft policy to fine market manipulators and other financial crimes.

Why does it matter? We’ve already seen Binance rework how their Futures trading functions. Assuming other exchanges make similar moves, trading bots will be disrupted for an unspecified period of time until new API communications are worked out.

Read the full stories on our blog

🚨 Important Notice for Binance Futures Traders in the EEA! 🚨

Starting June 26th, Binance Futures traders in the European Economic Area (EEA) must switch to using Binance Credits (BNFCR) for trading. Direct assets for USD-M or COIN-M markets will no longer be usable.

📌 Key Changes:
- 3Commas Futures bots will need to be disabled
- Only Cross margin supported in Multi-Asset mode
- Isolated margin, Single-Asset modes and Coin Margin (Coin-M) are discontinued

🌍 Affected Countries:
Austria, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, Greece, Hungary, Iceland, Ireland, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Norway, Poland, Portugal, Romania, Slovakia and Slovenia.

📅 June 26th Onwards:
- New USD-M and COIN-M trades will be blocked
- Only orders reducing open Futures positions accepted until September 30th, 2024
- Binance will close any remaining open Futures positions after this date if you choose to not upgrade your Binance account.

🔧 What You Should Do:
1. Check the email from Binance noscriptd "Important upgrade regarding your access to Binance Futures." and decide if you will upgrade your Binance account.
2. Stop all active Binance Futures DCA, Grid, and Signal Bots to prevent new positions.
3. Review and close any affected and active Futures positions before September 30th, 2024.

ℹ️ Full action plan and guidance can be found in our Help Center article

⚠️ Stay tuned for further updates from 3Commas on resuming trading with Binance Futures.

Stay informed and take action to ensure a smooth transition! 💪

How do you decide which sh*tcoin tokens to turn into deals?

With over 10,000 coins out there, traders are always looking for an edge to get ahead of the crowd and find untapped value in the market. Often this can mean navigating the rocky waters of extremely volatile sh*tcoins.

We did an informal poll among our more experienced trading employees, and here are their opinions:

- Avoid coins with hyped ICOs if you can’t find any real info on the founders or the investment groups buying into them. Many of these can be pump and dump traps.
- Look for coins that have been on the market for at least one year without completely flatlining.
- Liquidity, liquidity, liquidity. Coins that are difficult to unload are difficult to successfully trade.
- If the coin is only listed on some sketchy exchange with large minimum withdrawal requirements, run away.

That advice may seem simple, but good advice often is. Due diligence is the responsibility of every trader, and if you want to find amazing opportunities, you’re going to need to do a bit of research.

Alternatively, Binance currently offers 159 stablecoin pairs, and our multi-pair bots can search for deals on over 100 coin pairs at the same time. Other exchanges supported by 3Commas also offer a wide variety of coin pairs.

You don’t have to limit yourself to only the coins you know. Let your bots sift through the coin pairs to find the best deals: https://app.3commas.io/bots

Leverage your networks with 3Commas referral program

Lot of interesting things are happening in the crypto world with ETFs and other institutional support. Get your friends and followers into automated trading with 3Commas and you can receive 25% of their monthly subnoscription.

Why 3Commas?
-Leading crypto trading bots for major markets
-Pro-level trading without coding skills
-Seamless strategy automation
-Execute TradingView signals effortlessly
-Advanced terminal for complete control

Full details here

New DCA tool gives more flexibility for optimizing deals with Limit orders

Add more funds to a DCA Bot deal now by using a signal to place a Limit order. Added two features:

- Add funds to the deal as a limit order with a specific price.
- Add funds to the deal as a limit order with a price deviation % from when the signal was received.

Here’s how to add a limit order with a specific price:
1.- Copy the JSON code from the bot for “Message for deal add funds signal in the quote currency” or “Message for deal add funds signal in the base currency.”
2.- Add the following lines to the end of the JSON code, where “price” will display the specific price of the Limit order that will be placed on the exchange.

{
...
"price": 10.0
}

To add a limit order with deviation % from the price when the signal was received, do this:
1.- Copy the JSON code for “Message for deal add funds signal in the quote currency” or “Message for deal add funds signal in the base currency.”
2.- Add the following lines to the end of the JSON code, where “price_percent” will display the percentage of deviation for placing a Limit order on the exchange.

{
...
"price_percent": -5.5
}

Few things to watch for:

- “Price_percent” value can be in this range: -99 – +1000 (without “%” symbol)
- If you input both “price_percent” and “price”, only the “price” parameter will count, and the percent will be ignored
- If you set the price higher than current for Long or lower than current for Sell, the order will be executed immediately at the market price
- These parameters are valid only for the Add Funds tool

Check this new tool out: https://app.3commas.io/bots

Let's dive into the recent crypto industry updates:

🚀 Mt.Gox is set to start distributing Bitcoin worth over $8B to creditors in repayments: This is reportedly the largest stash of Bitcoin that will ever go into the market. Mt.Gox is set to commence repaying creditors a total of 141,686 Bitcoin and Bitcoin Cash.

🔓 Major crypto projects to unlock $755M in July, 2024: Crypto assets adding up to around $755 million from AltLayer, Arbitrum, Optimism, Xai, Aptos, Sui, ImmutableX, and Starknet will be released as their vesting period concludes.

📄 VanEck Files for Solana ETF in the US:
On June 27, VanEck, a prominent New York-based investment firm, filed a proposal with the SEC to launch a spot Solana ETF. This comes just a few days after 3iQ filed for a Solana ETP (Exchange Traded Product) in Canada.

🤔 Why does it matter? If Solana ETF gets approved, it will likely have a positive effect on the Solana token market and its ecosystem.

📖 Read More

🔭 Advantages of Using Crypto Bots for Trading on 3Commas Compared to Manual Trading

Manual trading has been a staple in the financial markets for centuries, but the advent of automated trading is revolutionizing how we approach crypto investing. Leveraging the automated abilities of crypto bots offers a myriad of advantages over traditional manual trading.

🔑 Key Benefits of 3Commas Crypto Bots:

1. Improved Consistency:
    Bots follow your strategy without emotional interference, ensuring that you stick to your own plan.

2. Faster Reaction Time:
    Crypto markets are volatile. Bots react instantly to market changes, significantly reducing reaction time compared to manual trading—crucial for strategies like scalping and arbitrage.

3. Affordable Pricing:
    Automation is scalable, and with multi-pair bots that can search over 100+ coin pairs for the best deals, the potential for seizing opportunities is immense.

4. Elimination of Emotional Bias and Human Error:
Bots execute trades based on pre-set rules, eliminating emotional decision-making and minimizing errors due to fatigue or stress.

5. 24/7 Trading:
    The crypto market operates non-stop. Bots trade and monitor the market around the clock, ensuring you never miss an opportunity.

6. Enhanced Precision and Backtesting:
Bots use advanced algorithms for precise trading and allow for backtesting strategies using historical data, ensuring better performance and reliability.

By using 3Commas, you can achieve better consistency, faster trades, and round-the-clock market engagement, making your crypto investments more efficient and potentially more successful.

🎯 Try your first bot today

🚀 3Commas Update: ‘Multiple Take Profit’ Feature

Secure profits gradually with our new "Multiple Take Profit" feature in both Signal and DCA bots!

▪️Potential Benefits:
1. Reduce Risks: Lock in profits at different levels.
2. Maximize Profit-seeking Efficiency: Take advantage of various exit points.

Example:
Asset: Bitcoin (BTC)
Entry Price: $50,000
Investment: $10,000 (0.2 BTC)
Profit Targets:
  - TP1: $55,000 (sell 0.05 BTC)
  - TP2: $60,000 (sell 0.05 BTC)
  - TP3: $65,000 (sell 0.05 BTC)
  - TP4: $70,000 (sell 0.05 BTC)

Total Profit: $12,500! 💰

🔧3Commas Software Tips: Use Trailing Take Profit, Trailing Stop Loss, and Stop Loss Breakeven to optimize your strategy.

Link: https://3commas.io/blog/multiple-take-profit-brings-new-advantages-to-dca

*Note: 3Commas provides software only and DOES NOT give any financial, investment, tax, legal or other professional advice or guarantee profits from any trade or bot.