Crypto trading is one of the most common ways to earn in crypto, especially if you prefer to invest in digital currencies for the long term. Similar to forex trading, there are tons of tools that allow you to automate the trading process, including Haasbot. You can take a look at Haasbot in this Haasbot review.
Crypto Trading in General
Back in the good old days, mining is one of the best and secure ways for many people to earn crypto. However, mining is already very competitive for well-established digital currencies such as Bitcoin and Ethereum. It is only usually accessible to those who can afford expensive mining hardware.
The huge cost of mining encouraged people to look for alternative ways to earn crypto, which is where crypto trading comes in. Unlike forex trading, there is no need to rely on other entities such as brokers to conduct the trade for you. The decentralized nature of cryptocurrencies means there is also no need for you to use your real identity.
Additionally, you can often start trading in crypto with just a little amount of cash. If you are into forex trading who is interested in transitioning to crypto trading, you can take a look at Investopedia’s discussion on benefits and risks of trading.
Similar to forex trading, you also have to pay attention to several factors that could influence a currency’s future values, including but not limited to regulations being imposed by the government, and the interest of businesses and institutions on the currency.
You also have to take a look at how the currency’s value changes, and how you can leverage patterns to your advantage. This means you’ll need to analyze tons of numbers and how they move through time, which is why many traders would prefer using trading bots, such as Haasbot and 3Commas.
What Is Haasbot?
Haasbot is a crypto trading bot that offers services that will suit traders with and without experience in programming. It emphasizes programmability and the freedom of users to build their own bots.
For the general types of users, HaasOnline Trade Server allows traders to perform automated trading using either pre-built bots or custom bots. Haasbot also allows traders to simulate their bots in a virtual testing environment before launching them.
Haasbot also offers HaasOnline Cloud and HaasScript, which allows users to build custom bots on top of Haasbot. The difference is HaasScript is more suitable for users who have experience in programming with languages such as C#. On the other hand, HaasOnline Cloud is for users who are more comfortable with visual programming.
What Is 3Commas?
3Commas is another crypto trading bot that focuses more on utility. It has an intuitive and easy-to-use interface, which makes it suitable for every type of trader.
Out of the box, it provides traders with the safeties they need by default. Bots can be used once traders choose to apply for an advanced or pro plan. Similar to Haasbot, it also includes a public API that lets you integrate it with applications if you are a developer. 3Commas’ bots are also meant to directly support several exchange platforms such as Binance, Coinbase, and Bitmex.
Haasbot’s focus on freedom and programmability makes it undeniably powerful, and it is perfect to use when you are a trader with experience in coding. Fortunately, even if you have no experience with coding, they also allow you to build custom bots visually and be able to test them before deploying.
However, the power of Haasbot also makes it incredibly complex and expensive at the same time. The 3-month starter plan already costs around $200 with unlimited trade but does not yet include custom bots and all the safeties. Additionally, the lack of a free trial makes it difficult for users to test and compare Haasbot’s pre-built bots with others.
On the other hand, 3Commas lets you choose between manual or smart trading and automated trading. It offers a free trial and a starter plan of $14.50 per month, which does not yet include bot services, but it already gives you access to its SmartTrade terminal and the tools and security measures to protect yourself from losses.
3Commas is a great trading bot you can start with and live with, and perhaps the only trading bot you will ever need. It has an affordable starter plan that already provides you the tools and safeties you need by default. It is really helpful when you are still just getting started with smart trading, and when you are not yet comfortable with relying on bots. They also have a reasonably-priced PRO plan, which already lets you quickly build custom bots and access all its features for just $50 per month.