How to Connect Binance with 3Commas Bot: A Step-by-Step Guide

 

3Commas is a popular trading platform that offers advanced trading bots, portfolio management, and various other features to enhance your trading experience. Connecting your Binance account with 3Commas allows you to automate your trading strategies and take full advantage of both platforms. Here’s a step-by-step guide to help you connect Binance with 3Commas bot:

Step 1: Create a Binance Account

If you don't have a Binance account yet, follow these steps:

1. Sign Up: Visit the Binance website and create an account by clicking on the “Register” button.
2. Verify Your Identity: Complete the identity verification process as required by Binance to increase your account's security and withdrawal limits.
3. Enable 2FA: For additional security, enable Two-Factor Authentication (2FA) on your Binance account.

Step 2: Generate API Keys on Binance

1. Log In: Log into your Binance account.
2. Navigate to API Management: Go to the API Management page by clicking on your profile icon in the top right corner and selecting "API Management."
3. Create a New API Key: Enter a label for your API key (e.g., “3Commas Bot”) and click “Create API.” Follow the security verification steps to complete the process.
4. Save Your API Keys: Once the API key is generated, you’ll see your API key and Secret key. Save these keys securely; you’ll need them to connect to 3Commas. Do not share your API key and Secret key with anyone.
5. Edit API Restrictions: Ensure the following settings are enabled:
   • Enable Spot & Margin Trading
   • Enable Futures (if you plan to trade futures)
   • Enable Reading (for account information)

Note: Do not enable the “Enable Withdrawals” option for security reasons.

Step 3: Create a 3Commas Account

1. Sign Up: Visit the 3Commas website and sign up for an account.
2. Choose a Plan: Select a suitable subscription plan based on your trading needs. 3Commas offers various plans, including a free trial.

Step 4: Connect Binance to 3Commas

1. Log In to 3Commas: Log into your 3Commas account.
2. Navigate to My Exchanges: Click on the “My Exchanges” tab from the left-hand menu.
3. Add Exchange: Click on the “Add a new account” button and select “Binance” from the list of supported exchanges.
4. Enter API Keys: Enter the API key and Secret key you generated on Binance into the corresponding fields on 3Commas.
5. Save and Test: Click “Connect” to save and test the connection. If everything is set up correctly, you’ll see Binance listed under your connected exchanges.

Step 5: Configure Your Trading Bot on 3Commas

1. Navigate to Bots: Go to the “DCA Bot” or “GRID Bot” section from the left-hand menu, depending on the type of bot you want to set up.
2. Create a New Bot: Click on “Create Bot” and configure the bot settings, such as:
   • Bot Name: Give your bot a unique name.
   • Exchange: Select Binance from the list of connected exchanges.
   • Pair: Choose the trading pairs you want your bot to trade.
   • Strategy: Set your preferred trading strategy (e.g., long, short, or both).
   • Take Profit and Stop Loss: Define your profit targets and risk management parameters.
3. Save and Start: After configuring your bot, click “Create Bot” to save the settings and start the bot.

Minimum Deposit to connect 3COMMAS TRADING BOT

There isn't a strict minimum deposit amount required by Binance to connect to 3Commas. However, practical considerations should guide how much you deposit. Here are some key points to keep in mind:

1. 3Commas Plan Costs: Ensure you have enough funds to cover the cost of the 3Commas subscription plan you choose. They offer various plans, including a free trial, but the paid plans range from around $14.50 to $49.50 per month (as of the latest available information).

2. Trading Strategy Requirements: Your chosen trading strategy on 3Commas may require a certain amount of capital to be effective. For example, if you're using a Dollar Cost Averaging (DCA) bot, you'll need enough funds to cover multiple buy orders.

3. Binance Trading Minimums: Binance has minimum trading amounts for different cryptocurrencies. Ensure your deposit covers these minimums. Typically, you might need at least $10-$20 worth of cryptocurrency to meet the minimum trade sizes on Binance.

4. Risk Management: Always start with an amount you're comfortable with and can afford to lose. Crypto trading can be highly volatile, and automated trading, while powerful, does not eliminate risk.

Recommended Minimum Deposit

For practical purposes, a minimum deposit of around $100-$200 worth of cryptocurrency is often recommended. This amount should be sufficient to:

• Cover the initial setup and any small losses during testing.
• Allow for effective implementation of basic trading strategies.
• Accommodate the minimum trade sizes on Binance.

Steps to Deposit Funds in Binance

1. Log In to Binance: Go to the Binance website and log in to your account.
2. Navigate to Wallet: Click on the "Wallet" dropdown menu and select "Fiat and Spot."
3. Deposit: Click on the "Deposit" button and choose the cryptocurrency or fiat currency you wish to deposit.
4. Complete the Deposit: Follow the on-screen instructions to complete your deposit. If depositing cryptocurrency, ensure you send the funds to the correct address. If depositing fiat, select your payment method and complete the transaction.

Connecting Binance to 3Commas

Once you have deposited the funds, you can proceed with connecting your Binance account to 3Commas and configuring your trading bot as outlined in the previous steps.

By ensuring you have an adequate deposit, you can better leverage the automated trading capabilities of 3Commas and optimize your trading strategy on Binance.