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re: Crypto Trading Bots

Posted on 1/6/22 at 9:09 pm to
Posted by ThreeBonesCater
Baton Rouge
Member since Dec 2014
492 posts
Posted on 1/6/22 at 9:09 pm to
Cautious investor, got about $1k into Bitcoin a year ago after several years following crypto. Been a pretty wild ride by my standards. Trading bots are intriguing, I already practice DCA. Couple of questions on 3commas if anyone cares to chime in, apologies if already asked:

Is this service legitimate? Do they make money on just subscription fees, or is there something I don't recognize yet? I understand there are trading fees on the external platform, but I don't quite understand the 3commas business model. Will the bot trade you into debt, and/or can this outcome be mitigated through the user settings? What are the consequences when you land upside down?

Crypto trading is funny money for me, but I believe we're just getting a peek into a very different future. I'm a baby, any replies appreciated.

Posted by LordSaintly
Member since Dec 2005
39012 posts
Posted on 1/6/22 at 10:04 pm to
quote:

Is this service legitimate? Do they make money on just subscription fees, or is there something I don't recognize yet?


Just the fees I think.

quote:

Will the bot trade you into debt


I can only speak for the DCA bots, but no, they don't trade for a loss unless you make them sell. They will just hodl your funds until the market rebounds.
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