Bitsgap Review : Is It Worth To Trade Using Bitsgap?
The crypto market has become more dense and competitive in recent years, as cryptocurrency demand and use have grown worldwide. To survive in this environment, you need tools and platforms that minimize risk and maximize profits. Here we will review one of such trading platforms, called Bitsgap.
With Bitsgap, you can trade, manage your portfolio, arbitrage, and use trading bots from one dashboard. Bitsgap is setting new standards for trading platforms. So, let's take a closer look at the features and services the platform offers.
|Type of Platform||Desktop and Mobile Compatible|
|Software Cost||$29, $69, and $149/mo|
|Deposit||Visa, Mastercard, PayPal, and Crypto|
|Ideal for||Medium-level to advanced|
|Bot types||Multiple GRID bots|
|Exchange support||25+ exchanges|
|Customer support||Help Center Live chat Telegram chat: @bitsgap|
Bitsgap is an Estonian-based crypto trading platform with multi-exchange capabilities. Established in 2017, it officially began operating in February 2018. Bitsgap uses advanced algorithms to generate trading signals with the greatest potential and offers trading bots and arbitrage opportunities.
While it is not exactly a crypto exchange, it offers connections to all popular crypto exchanges. In addition, it also provides advanced automation tools that help you automate trading.
Cryptocurrencies' increased popularity has led to a growing demand for technologically advanced trading platforms with a wide range of analytical tools, technical indicators, and customized investment integrations. Bitsgap aims to meet all these demands.
Through Bitsgap, users can trade across more than 25 cryptocurrency exchanges from a single location. The platform enables users to integrate all essential trading elements and access them from one account. Besides this, there are over 10,000 trading pairs available. That makes it simple and easy for users to trade across the entire crypto market quickly. When an opportunity for trading arises, this structure provides a significant advantage over navigating multiple exchanges at once.
Bitsgap has evolved into a growing force in the crypto market over the years, offering a variety of features that can benefit everyone. There is a wide range of trading options available for beginners who have no previous experience with crypto trading to veterans who want to take on something more exotic and risky, even tinkering with the code themselves.
With its carefully designed features, users can:
- Instantly compare rates across many digital currency markets
- Switch quickly between different exchanges while trading
- Invest in the right things
- Use arbitrage to profit from price differences between exchanges
- Test their strategies without risking any capital with the Demo account
Let's look at some of the amazing features, tools, and services Bitsgap provides.
Bitsgap Review 2022: Key Features
If you do not provide users with something new and beneficial, you will not survive in any market. Bitsgap has successfully survived the crypto market by providing the following features & products:
You can buy and sell crypto assets across multiple exchanges with the trading feature of Bitsgap. This feature allows you to switch between pairs and exchanges without opening new browser tabs. You can trade futures and spot contracts on multiple exchanges utilizing a single interface that offers high-quality tools. With a trading terminal, you get the following advantages:
- Smart drawing tools
- TradingView charts
- 100+ popular indicators
- Customizable chart types
- trading visualization
- order changes/cancellation from chart
- day and night modes
Bitsgap also offers trading tools that measure the performance of all popular trading pairs. With the option of choosing a chart style and setting a time frame, one can easily integrate the functionality. You can use various trading orders in order to be in full control of your trading.
- Smart Orders: Set both your stop loss and take profit simultaneously to protect your funds. During your absence, the platform will execute the orders for you if the price changes for the worse.
- Shady Orders: Make shady trades using order books with no balance reserved. The order will be placed once the price reaches your target.
- Stop Limit Orders: Once the specified stop price is reached, this order will execute at the specified (or better) price. Upon reaching the stop price, the order will become a limit order to either buy or sell at the set price or better.
- Limit Market: This is an order to buy or sell cryptocurrency at the current market price.
Bitsgap has its own trading bot. You can use this bot on Binance, Kraken, Bitfinex, and 25 other cryptocurrency exchanges. Bitsgap's trading robot uses the GRID algorithm.
This grid strategy uses an algorithm that automatically sets, buys, and sells orders to maximize your profits. All you need to do is connect your exchange accounts to use the bot. Then you can sit back and relax. The Bitsgap bot will do the rest.
The following benefits come with Bitsgap's trading bot:
- Smart strategy design: You can customize your bot's trading strategy in a few simple clicks.
- Test before investing: The backtest shows how your settings will perform under profit and loss scenarios.
- Ready-to-go strategies: You can choose from a list of predefined strategies based on those backtest results that worked.
- TradingView charts: With TradingView charts, you can see how your bot is doing.
- No downloads are needed: as the platform is cloud-based, its services are always up-to-date.
- Safe and secure: Bitcoinsgap's bot keeps your funds on your exchange balance to ensure maximum security.
The Bitsgap platform offers 3 trading bots to its users:
1. SBot Trading
Bitsgap's SBot Trading, a super-efficient GRID bot, is the latest addition to their trading bot line. This bot operates on the grid investment distribution principle, which consists of many limit orders allocated proportionately. With this logic, one can maximize gains on bullish and neutral trends while minimizing losses on downtrends. The average weekly gain during S-bot beta testing was 3%.
2. Scalper Bot
Scalper bots enable you to make profits from very small price changes. It works on the concept of trailing stop-loss features. It maximizes profits during bullish market trends while compensating for losses during downtrends using automated tracking.
3. Trailing Bot
Trailing bots work on the same principle as Scalper bots. The bot works well when a crypto pair's price fluctuates within a specific fluctuation range during a sideways market. And it automatically buys and sells cryptocurrencies within a trader's set upper and lower price limits.
Signals are Bitsgap's way of keeping you informed of significant market changes. They provide an alert when price anomalies occur. You will be notified if there is any significant movement in the value of a cryptocurrency. This way, you will be able to keep track of all your trades and take action as soon as the market moves in your favor or against you.
Bitsgap has gathered trends for several cryptocurrency trading pairs. Approximately 10,000 crypto pairs are analyzed every second by Bitsgap. Whenever a coin exhibits a pattern that deviates from the normal, it will be entered into the signal list. Additionally, the platform uses technical indicators to determine whether a rapid move signals a trading opportunity.
The Bitsgap trading signals can be highly useful in determining the proper Stop-Loss and Take-Profit orders to limit your risk. You can filter what counts as a signal for you according to signal strength, raise percentage, exchange, and time. You can also set up a Smart Order. Take-Profit and Stop-Loss orders are combined in Smart-Orders. When any of your predefined conditions are met, Bitsgap can complete your order.
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One of BitsGap's best features is its ability to connect with multiple exchanges. And Arbitrage tool helps you profit from the price differences between different exchanges by exploiting the price differences. You can earn a profit if you buy Bitcoins or similar cryptocurrencies from an exchange at a low price and then sell them in an exchange where the price for the same cryptocurrency is higher than what you bought them for.
Since this takes a lot of time, not many people can do it on their own. Moreover, doing it manually is inconvenient. However, this method of profiting has been made easier through Bitsgap Arbitrage's AI-powered system.
The portfolio management feature of Bitsgap is quite outstanding. Each time you add an API key to an exchange, you will have access to the trade portfolios. The portfolio tracker allows you to view all your holdings and ROI (Return On Investments) and your positions. API keys allow you to connect all the exchanges you own to your Bitsgap account. That gives you access to your entire cryptocurrency portfolio in one place.
Bitsgap portfolios do the following:
- Update all transactions automatically
- Perform tracking based on your trading history
- Streamlined access to your crypto assets
- Provide detailed information on trades, performance, and balances in a real-time
Bitsgap Demo Account
You don't have to worry if you have never traded before. The Bitsgap Demo makes it easy. It lets you get familiar with the platform with Demo accounts. The demo account funds are used to fund your trading strategy.
You will be provided with demo money (5 BTC virtual funds) to test your strategies and build confidence to invest in cryptocurrencies. You will have access to the five top most popular crypto exchanges. Furthermore, Bitsgap's best tools, such as Arbitrage, Signals, and Trading Bots, will also be available for you to test.
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If you need help getting started, the Bitsgap Knowledge Base is a great place to start. With it, you can learn everything from how to link exchange to changing the grid quantity on your bot. You can get much of the information you need with helpful YouTube videos, blogs, and how-to guides.
Clients can contact customer support via social media channels like Telegram and Twitter. You can also contact the platform directly by emailing firstname.lastname@example.org.
Bitsgap does not hold customer funds directly. On all exchanges, where trades are performed, tokens are securely stored, and API keys are used to communicate. API security has been designed into the API system from the beginning.
Bitsgap uses a 2048-bit standard protocol to entirely secure orders containing customers' information. The encryption and firewalls used by Bitsgap make it twice as safe as most internet banks. Additionally, as a customer, users can add two-factor authentication to their accounts, ensuring security against hackers.
Steps to Get Started With Bitsgap
You have to follow three simple steps to get started with Bitsgap.
Step 1: Set up an Account
First, create a Bitsgap account. The only information that you are required to submit is your name, email id, and registered phone number. Once you've done that, you'll need to verify your account. After your account application has been approved, an account manager will contact you.
Step 2: Invest Some Money
For Bitsgap membership, you must deposit a minimum of $271. That will be your first capital investment since you will use it to place your initial transactions on the cryptocurrency market. Once your deposit is received, you will be able to access your Bitsgap dashboard.
Step 3: Start Bitsgap Trading
With Bitsgap, you can practice trading before stepping into the real trading environment. Beginners are likely to practice and test on demo accounts before jumping right into a real-time trading environment, while more experienced traders are likely to start practising immediately.
Bitsgap Trading Plans & Pricing
You have three subscription-based plans to choose from if you want to use the Bitsgap platform:
Basic Plan – $19/month
The basic account includes two active trade bots support, demo trading, and trading signals. Also, it gives portfolio access, offers more order types, supports unlimited cryptocurrency exchanges, and comes with a $25,000 monthly trading limit. The monthly rate drops to $15 if billed annually.
Advanced Plan – $44/month
The advanced account includes five active trading bots, arbitrage trading, and a $100,000 monthly trading limit. Monthly rates drop to $35 when billed annually.
Pro Plan – $110/month
This plan includes up to 15 active trading bots, taking profit for bots, priority trader support, and no monthly trading limit. The monthly price drops to $88 if billed annually.
There is a free trial for each plan. However, traders who wish to use trading bots or perform crypto arbitrage will need an Advanced or Pro plan.
Bitsgap Pros & Cons
- A large selection of exchanges
- Futures trading
Bitsgap has recently introduced Binance Futures, allowing users to secure their trades. The move is a positive one. However, the number of platforms for futures trading is much smaller than that for Altrady.
Before a real investment is made, Bitsgap allows users to backtest their trading robots. Before an automated bot can trade on behalf of an investor, they must do this step to ensure the algorithm is designed correctly since a poorly designed algorithm has the potential to impact profitability seriously. This functionality promotes investor trust.
- 14-day free trial
Each plan comes with a 14-day free trial. Compared to Bitsgap alternatives, such as Altrady, Cryptohopper and Bituniverse, which offer only a 7-day trial, this is a lengthy trial.
1. Not suitable for every market condition
With the Bitsgap trading robot, you can generate profits even when prices decline. It is, however, not suitable for every market condition. Due to its focus on neutral or swing markets, the bot can become unprofitable if prices rise or fall too quickly. Traders should be aware that results cannot be guaranteed.
2. Trailing Up and Down is not available for GRID Bot
3. Bitsgap only allows one account per exchange
4. No mobile app
There is no mobile app for Bitsgap. A mobile version, however, is in the works. Soon, iPhone iOS and Android Bitsgap APK will be available for download.
5. API connection relies on the exchange of data
Since Bitsgap is an intermediary, they use API connections to place orders with the exchange. When this communication is disrupted, orders can be slowed or delayed. It can affect profits when trades are set automatically. However, all third-party trading robots experience the same thing.
How reliable is Bitsgap Trading Bot?
Bitsgap offers a range of customizable trading robots based on your trading style. On the bot's page, you can see the backtesting parameters for each bot. Backtesting is a great way for traders to measure the return on their investment. In addition, Bitsgap offers a demo account for you to try out the site before investing real money.
Is It Worth It to Use Bitsgap?
A 14-day trial account is available for those who are unsure whether Bitsgap is a worthwhile investment. Before making a purchase, traders can use the trial period to evaluate all available options. It offers a unique opportunity to experiment with arbitrage functionality, undoubtedly the most intriguing feature of cryptocurrency trading, since it allows low-risk trading but requires complex technology to implement.
Does Bitsgap charge any commissions on trades?
It doesn't charge trade fees. You only have to pay a monthly subscription fee to take advantage of the platform's advanced tools for more efficient crypto management and trading.
Bitsgap Review: Final Words
Maintaining assets across multiple exchanges at the same time can be challenging. While keeping track of all your assets on a regular basis can be daunting. Bitsgap, on the other hand, automates the monitoring task for you. It is an all-rounder crypto platform that provides all the necessary features you need to trade.
With trading tools to advanced charting styles, from signals and trading algorithms to arbitrage functionality, traders can earn a steady stream of profits regardless of market conditions. Although, relying on the API connection may delay order execution. However, in this BitsGap review, we have covered all the necessary information you need to get started with Bitsgap. It hopefully will assist you in deciding whether to use Bitsgap for your future trading or not.
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