Bitsgap Review – How To Use Bitsgap? Price, Features, Security In Overview
Already a fiercely contested arena of automated crypto trading platforms just got even tighter as a new, promising player called Bitsgap threw its hat into the ring.
The crypto trading bots industry is a thriving sector of the crypto world with dozens of different platforms gunning for the throne. Current leaders of the pack are, arguably, Cryptohopper and Margin.de with others like 3Commas and Haasbot on their heels.
Bitsgap, a new young startup from Estonia, plans to spoil the plans of its competitors and chip off part of the crypto market for themselves.
What is Bitsgap?
Other automated trading platforms got us accustomed to some mandatory features in a good bot: it should run on a cloud accessible via all devices, it should have arbitrage opportunities, signals, and support a lot of exchanges. Bitsgap does all of that with their platform and adds extra features with arbitrage and demo interface.
The number of supported exchanges is impressive – 25. This fact also means more arbitrage opportunities since there are a lot of exchanges that are tracked and hence there is a high probability of finding a big price difference between them. Bitsgap is a big platform that has a wide range of users.
So Bitgsap is a platform that supports trading, portfolio tracking, arbitrage, signals, bots – a full spectrum of crypto assets services that can be managed from one dashboard.
Of course, Bitsgap also has a demo version that you can take for a test ride and try out all your strategies without risking real money.
Below is a quick rundown about top 3 bots, based on their most prolific properties:
Bots – How does bot trading work on Bitsgap?
Once you log in to your Bitsgap account, you will see a row of tabs in the top bar. One of them is called bots. Once you click on it, you will see a full overview of the best opportunities you can trade, based on the three days of backtesting made by Bitsgap. You can set up your own backtests as well. The bot can be started with a few clicks and the generated profit is accurately tracked and can be checked inside the interface. (By the way, exchange fees are also considered correctly).
The best thing is that this bot can be also checked in demo mode before connecting real money to see how much profit it can generate. It looks like 2-3 days is enough to see some profit.
Trading – unified interface to control all your exchanges
This is essentially a tab where you can handle all your exchanges from one place. You can click through separate exchanges just as if they were all on one single platform. This spares time and improves your reaction speed + allowing for arbitrage opportunities.
Signals – The system picks the best trading opportunities for you
Bitsgap algorithm monitors thousands of crypto pairs 24/7 to detect anomalies and presents them all in this tab. This way you can see what coins are best trading opportunity and set a Smart Order which is a proprietary Bitsgap order. Smart-Order is a combination of simultaneous Stop-Loss and Take-Profit orders. If one of your predefined conditions are met, Bitsgap will complete your order as planned. Merging these orders together drastically reduces your risks while also securing your profit gains while you are not personally online and trading.
How exactly does Bitsgap find these anomalies and opportunities?
The lone fact that it connects and monitors more than 25 cryptocurrency exchanges, Bitsgap is able to track the price movements of 10,000+ crypto trading pairs. And as, explained on their site, “when the price of a coin is starting to show an anomaly out of pattern which forms an upward trend, we add this entry into our signal list. To verify the trend we are using numerous indicators and models before considering any rapid move as a trading signal.”
Bitsgap Arbitrage review – risky but very profitable endeavour
Right off the bat, arbitrage is not a good idea for new crypto trader who lack experience and knowledge in market trading. However, seasoned traders will like this option very much since Bitsgap did a fantastic job on it. This feature gives you a list of potential arbitrage opportunities from all 25 supported exchanges in one streamlined interface. You will need to have open and active (verified) accounts on those exchanges and have them linked with Bitsgap via API keys to make use of this feature. You also would need to have decent money on both exchanges to make sure transaction fees won’t take away your profit.
How does Bitsgap find arbitrage opportunities?
Potential deals are calculated based on your account balance on certain exchanges and you can select either crypto or fiat arbitrage opportunities.
Automated and AI-powered arbitrage bots like Bitsgap are far superior to the manual approach of monitoring the markets for arbitrage deals as the chances are that those opportunities will vanish before you manage to see them through by clicking dozens of commands on separate exchanges. With Bitsgap arbitrage, trades can be made in just one click!
Portfolio – track the prices and your balance
This one is the least exciting feature as it is just a regular crypto portfolio tracker – you can view your holdings by token and exchange.
Bitsgap Demo – take it for a spin without risking your money
In the right upper corner, you have the option to switch your Bitsgap account to the DEMO version. In this version, your account will be funded with simulated demo funds, enabling you to test your trading strategies and get to know the platform with zero risks.
You can hone your skills with 5 BTC virtual funds on 5 popular crypto exchanges to play with while having access to live market data. With a demo account, you have access to all major standard features of the Bitsgap platform: you can try out Arbitrage, Signals, and Crypto Trading Bots.
Getting started on Bitsgap
Even though Bitsgap has a wide range of settings, registering is a breeze – you can log in right away via Facebook or Google, or sign up via standard email address form. Once you are in, you need to connect exchanges where you have funds – integration is made via a standard process of API keys.
Having done that, you are free to use Bitsgap to your liking. Below is the process in three easy steps:
- Sign up
Open a free Bitsgap account.
- Connect exchanges
Your funds will remain on the exchange balance and Bitsgap won’t have access to them.
- Start trading cryptocurrency
All orders you perform through Bitsgap are secured with high-end 2048-bit encryption.
Bitsgap supported exchanges
Bitsgap blows its competition out of the water when it comes to this important benchmark – the number of exchanges it integrates is a whopping 25. That is much more than Cryptohopper which works with only 9 and 3Commas which supports 12 exchanges. The closest one to Bitsgap in this segment is Margin.de which integrates with 17 exchanges. However, Margin.de is a program that needs to be downloaded and run from a local machine while Bitsgap is a cloud-based platform.
Back in 2018 when it first launched, Bitsgap was free but of course, that was only while it was a work in progress. Nowadays, Bitsgap has a pricing structure similar to its competitors. Its middle plan is cheaper than Cryptohopper by $5 but its premium package is $11 more expensive. Overall, it is in the same ballpark as competition when it comes to pricing. Signup for free 14 days trial!
The updated Basic plan will include:
- 2 active trading bots with no monthly trading limit
- Grid strategies bots
- Unlimited access to smart orders at Bitsgap trading terminal
The updated Advanced plan will include:
- 5 active trading bots with no monthly trading limits
- Grid bots
- Futures bots
- Trailing Up and Trailing Down for bots
- Unlimited access to smart orders and trading terminal
The updated Pro plan will ensure the best possible experience for Bitsgap users and will include:
- 20 active trading bots with no monthly trading limits
- Grid bots
- Futures bots
- Trailing Up and Trailing Down feature for bots
- Take Profit feature for bots
- Unlimited access to smart orders and trading terminal
- Suitable for people looking for unlimited exchanges
Bitsgap customer support
So when you decide to pull the trigger and buy one of the Bitsgap packages, who do you have that will help out in case of emergency or troubles?
Bitsgap made sure to be on par with other crypto bots by offering chat support directly from the platform and judging by our own and trading experience of other people who reviewed them online, they are prompt and helpful in their responses.
Bitsgap bot review – final verdict
Overall, Bitsgap will definitely disrupt the current incumbents in the crypto trading bots vertical as it comes with a powerful, slick, and polished platform that is not inferior to its counterparts in any aspect. With their broad offering of supported exchanges, they are second to no one. An arbitrage feature is also a mighty tool for those who know how to use it. All in all, we could see Bitsgap “do a Binance” in the automated bitcoin trading industry and gallop all the way to the top providers within months.
If Bitsgap is not to your liking, check out our other guides on its competitors:
- Quadency review
- Coinrule.io review
- Tradesanta review
- Gunbot review
- Shrimpy review
- CryptoTrader.org review
- Easy and fast start
- Simple configuration
- Arbitrage opportunities
- Market signals dashboard
- Limited trading bot functionalities
- No mobile app
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com