Cryptocurrency trading bot service 3Commas has added crypto options bot to its list of trading bots on the platform. The addition will see users able to trade European options on the Deribit exchange.
3Commas is one of the leading names in the crypto trading bot arena with an array of smart tools aimed at helping users minimize losses while limiting risk exposure. The introduction of an options bot trading feature comes at a time when numerous exchanges are deploying cryptocurrency options given the growing popularity of the market.
3Commas Options Trading Bot Comes With 15 in-built Strategies
The crypto bot trading platform announced the news of its newly added options trading bot via a post on its website. According to the statement, subscribers of the company’s PRO package can utilize the bot in trading European options on Deribit.
3Commas also revealed that the bot can be used for both Bitcoin (BTC) and Ethereum (ETH) options. In addition, the new feature comes with 15 in-built trading strategies for the crypto options market including Condors, Bear Call Spread, Butterflies, and Long Straddle.
Based on the announcement, it appears, the options bot is only available for use on the Deribit platform. 3Commas is known for having strategic partnerships with other exchanges like Binance, OKEx, KuCoin, Bitfinex, and BitMEX among others.
As with other offerings on its platform, 3Commas says the crypto options bot is easy to use with only five clicks required to set up the system. Traders using the tool will also reportedly find it easily customizable with automatic calculation of purchase-size based on the state of the market. The features of the crypto options trading bot include dynamic profit and loss tracking and risk-reward indicator as well as seamless position closing before contract expiration.
The introduction of a crypto options bot is the latest in a string of developments and initiatives introduced by 3Comas. As previously reported by Blockonomi, the crypto…