Bitsgap is a cryptocurrency management platform that provides various services to digital asset traders. In this article, we are going to review this comprehensive crypto trading platform that’s sure to meet all your trading needs. It allows users to put all their crypto exchange accounts in a single service and trade from one integrated interface.
Bitsgap allows you to integrate more than 25 major exchanges, including Binance, Poloniex, Bitfinex, FTX, etc., which supports future and spot trading from a single app.
Keep reading if you want to know every detail of this platform and how it can help you boost your trading experience.
- 1 Bitsgap Review
- 1.1 Bitsgap Pros & Cons
- 1.2 Is Bitsgap a Scam?
- 1.3 What Is Bitsgap?
- 1.4 How Bitsgap Works
- 1.5 Is Bitsgap Safe?
- 1.6 Bitsgap Pricing and Fees
- 1.7 Bitsgap Highlights
- 1.8 Conclusion
Bitsgap Pros & Cons
Is Bitsgap a Scam?
With that said, the demo version that is available on Bitsgap is great in terms of giving you a projection of what you should expect. It lets you test different strategies and see how profitable some mechanisms might be for you.
After analyzing every part of this platform and running several tests, we’ve determined that Bitsgap is not a scam.
What Is Bitsgap?
Bitsgap doesn’t restrict itself to just one aspect of cryptocurrency trading, which prevents its users from having to switch to different platforms based on their requirements. This platform unifies all of these services, making it easier for traders to manage their entire cryptocurrency portfolio while efficiently performing essential trading tasks.
Therefore, Bitsgap offers a much richer experience that sets it apart from other services based on a single-use model. Instead of signing up separately for a trading bot platform and another portfolio management application, users can satisfy both needs by switching to Bitsgap.
The platform also features a trial or demo version, in which you can simulate trading tasks without involving your funds. This ensures that novice traders get enough practice with the mechanics of trading before risking their money while also allowing professional users to test their strategies before spending real money on them. When you add this feature to the Bitsgap trading bot, it becomes extremely useful for all types of traders.
Additionally, the trading bot can be easily combined with other services, which allows you to integrate and use several functions in a single service. This significantly improves the platform’s value proposition and makes it a great option, especially for professional traders who use all these services on a daily basis.
How Bitsgap Works
We can use the Bitsgap Bot with the balance in our preferred exchange. This means that if at some point Bitsgap goes bankrupt or closes due to any issue, our money would be insured within the exchange of the other company.
You can buy the coins directly and not through contracts, and you can also work on a demo account for testing purposes.
The big difference Bitsgap offers is that it functions with no leverage. This is something that you may be used to if you trade with any CFD broker. Most people usually trade with leverage to make the investment work as collateral. However, this has a very high risk of losing your money.
The trading bot contains only one strategy and is usually called a “Grid bot.” This consists of choosing a cryptocurrency pair and placing buy orders below the current price while selling orders above it.
You can use this handy strategy based on the fact that the price of a currency oscillates up and down while it is in a trend. However, we only see this happening in an uptrend.
During these corrections, the grid bot buys cheap assets to sell the orders that are waiting to be executed and close the operation with positive numbers.
Although this strategy works well in bullish markets or pairs, it can be risky in bearish ones. If a cryptocurrency suddenly declines, all staggered buy orders are going to be executed, while sell orders may not, which may cause the account to have a negative outcome.
In order to limit this loss, one important thing to do is good risk management by actively monitoring the bot. Even though it is a digital currency bot, it needs a constant active intervention of the trader.
You can see all your holdings, ROI, and positions with the portfolio tracker. Additionally, all the exchanges you own can be connected to your Bitsgap account through API keys. This way, you have full access to your entire cryptocurrency portfolio.
Your Bitsgap wallet can do several things to your trading experience. Some of them are:
- Automatic update of all transactions
- Keep track of your transactions
- Access all your crypto assets faster
- Real-time overview of trades, results, and balances
This is perhaps one of the best ways to test both a new cryptocurrency platform and a strategy you want to implement. Demo trading or paper trading consists of testing your strategies with fictitious funds.
Bitsgap allows any user to test their trading platform with demo money for all their bots. This makes it an ideal trading bot for beginners, as it offers the opportunity for new users to test the software without having to pay.
Undoubtedly, this functionality confirms that Bitsgap is a safe and functional crypto trading software.
This premium cryptocurrency feature can only be used in the Advanced and Pro packages. The way it works is somewhat different from the traditional way arbitrage is done in digital currencies.
Before 2017, cryptocurrency traders would find arbitrage trades for cryptocurrencies when there was a price divergence between two exchanges. Then, they would have to take these three steps.
- Buy Bitcoin (or another crypto) on the cheap exchange
- Send the purchased BTC to the expensive exchange
- Sell it on the expensive exchange to make a profit
However, as cryptocurrencies grew in popularity, these arbitrage opportunities became less durable and rarer to see. In order to address this problem, trading bots began to be used to detect and trade these opportunities very quickly.
Bitsgap’s cryptocurrency arbitrage bot strategy works like this:
- You need at least two exchanges with funds in the pair to be arbitraged connected to your Bitsgap account via APIs
- Then, you may choose a minimum profit percentage that the user wants to have per trade
- The bot searches in real-time for profitable trades, and when it finds them, it sells the funds of the cryptocurrency that presents the arbitrage opportunity on the expensive exchange and buys on the cheap one
- This may result in you getting a more significant amount of the cryptocurrency presented in the crypto arbitrage opportunity
- Since there is no automatic transfer of funds between exchanges, it is up to the user to do it from time to time
If you do not have enough experience to embark on the world of automated cryptocurrency trading, signals and copy trading can be your solution.
This means that anyone can connect their exchange via APIs to Bitsgap, activate signals, and start executing trades without too much hassle.
In addition, you don’t have to be an amateur in the world of crypto trading with bots to use signals, as experienced traders use them to complement and improve their strategy.
Is Bitsgap Safe?
The number of users that choose its service is still modest compared to other platforms that provide individual trading bots or portfolio management services.
However, those who have used Bitsgap’s services to review it or for their day-to-day trading have had good things to say about the platform. This is mainly due to the service’s versatility and various features such as limit, stop-loss, and take-profit orders.
Bitsgap comes with the standard security features that are the norm for any trading bot service. This is expected, considering that the platform offers several features that require access to users’ private account information.
The platform comes with the ability to configure two-factor authentication, which isn’t going to give you access to the API until you have disabled the withdrawal function from your wallet.
These measures ensure that malicious third parties cannot access your funds.
Bitsgap Pricing and Fees
Even so, the pricing model that the service offers is quite modest.
Bitsgap has a free plan with all the standard options but limited access to some of its features. It also has a monthly volume limit of $1,000.
Bitsgap's paid services are available through three different packages, and they offer a combination of the standard features plus unlimited access to exchanges.
In addition to the basic set of services, this package features two trading bots and a monthly volume limit of $25,000. This package does not include the arbitrage feature. The monthly price is $19/month, or $15/month if paid annually.
This package also includes the standard set of features, but it has the benefit of the arbitrage option. It features five bots and a monthly volume limit of $100,000. The monthly price is $44/month, or $35/month if paid annually. This package also features priority support.
The Pro Package is the most advanced offer of the platform, as it contains everything Bitsgap has to offer. It features 15 trading bots along with arbitrage and has a monthly price of $110/month, or $88/month if paid annually.
All of these Bitsgap platform plans are built on the same general interface.
|🤖 Type of Robot||Cryptocurrencies|
|💰 Software Cost||From $15 to $110 per month|
|💰 Withdrawal Fee||No|
|📊 Type of platform||Web-Based Mobile Compatible|
|💳 Deposit Options||Visa, Mastercard, and PayPal|
|🏦 Depositing with wire transfer||Yes|
However, if you’re still not convinced that this is the right trading bot for you, we encourage you to use its free 14 days trial and test it for yourself.
You might even find it appealing enough to make this platform your main tool for bots and portfolio management. Hopefully, this Bitsgap review may help you make the right decision.