Bitsgap review 2021 | Crypto Trading Bots, Arbitrage, Signals and Futures Trading
In this article, we will review Bitsgap, a one-stop crypto trading platform that caters to all your trading needs. It allows its users to bring all their crypto-exchange accounts under the same roof and trade from an integrated interface.
Bitsgap has integrated over 25 major exchanges that include Coinbase Pro, Binance, Poloniex, Kraken, and Bitfinex, Binance Futures and FTX, etc. And support Spot and futures trading from a single interface.
The sign-up process won’t take you more than two minutes, it only requires the verification of an email account.
Alternatively, users can connect through their Google or Facebook accounts.
Bitsgap provides a 14-day free trial in which the trader can enjoy several features free of charge.
- Trading terminal for spot and futures trading
- Futures trading bots
- Arbitrage across exchanges
- Market signals provide opportunities to make the right trading decision
- Manage portfolio, track funds
- GRID Trading bots to automate your trades
- Smart Trade, TWAP strategy, Sniper, and Shadow modes
The following features are just an iceberg’s tip of all the great, ready-to-use features available on the platform.
- Arbitrage — Traders can maximize the price difference between two or more exchanges.
- Trading Terminal– Top-notch tools are available to help you perform spot and futures trading on multiple exchanges using a single interface.
- Futures Trading Bots — Bitsgap is one of the few trading tools which allows you to build futures trading bots.
- Signals — lookout for any market anomalies for the best trading decisions.
- Portfolio Tracking– traders will have a live-generated portfolio that will enable them to track their funds and earnings.
- Automated trading bots — Bitsgap provides pre-configured trading bots that are optimized using machine learning.
- High security — Customers connect their exchange accounts to Bitsgap using API keys of the exchanges, no deposits are ever made on the platform itself. Bitsgap can never access the customer funds, it only conducts traders on behalf of the user. All orders through API are secured by Bitsgap using high-end 2048-bit encryption for further security.
- Demo Exchange- ‘My exchanges’ is a display of all the exchange accounts that the user is connected through API. ‘The Demo’ feature on the other hand allows the trader to practice using all the special features on Bitsgap, it helps the user to familiarize themselves with all that the platform has to offer.
How Bitsgap Works
- First, create your account on Bitsgap.
- Link your Bitsgap account with one of the supported exchanges with your API keys.
- Now, simply place an order or start a bot, or take benefit from arbitrage opportunities on the selected exchange using Bitsgap.
If you ever traded on any crypto exchange you must already know that exchanges focus more on liquidity, rather providing the best trading tools.
That's why solutions like Bitsgap focus on providing the best crypto experience to traders. Bitsgap trading terminal provides a single interface to trade on multiple crypto exchanges.
Trading tools like take profit, shadow orders, limit market, and stop-loss gives you an advantage while creating market orders.
Bitsgap GRID Trading Bot
Bitsgap trading bot is powered the GRID algorithm which works by allowing the trader to define range and limits for investment and then it goes ahead to distribute these investments proportionally. Therefore, each time the system executes a limit order, GRID goes ahead to place another sell order for a price slightly higher than the market value.
The vice versa is true for limit orders, in that each time the previous order is executed, Bitsgap goes ahead to make another buy limit at a price slightly lower than the market value. Provided the crypto prices do not exceed the trader’s predefined value range the system will keep on conducting trades nonstop. Learn more about GRID trading strategy here.
Bitsgap provides pre-configured trading bot strategies.
Bitsgap Review: Back Testing
Bitsgap backtesting feature actively optimizes the pre-configured trading bots for a bull (uptrend) and a bear (falling) market.
The team utilizes machine learning by studying and analyzing historical data for the maximization of profitability and reduction of risks involved.
Traders can choose any trading pairs based on their history and trading bot returns.
Bitsgap track crypto prices on multiple exchanges and shows arbitrage opportunities.
Traders can benefit from these opportunities and make money through crypto arbitrage.
Bitsgap allows you to search for different cryptocurrencies and assign balance when executing an arbitrage.
Bitsgap also shows market signals. These signals are price anomalies in the market, meaning there is a sharp movement in the price of a particular cryptocurrency.
This helps traders to identify price movements early and benefit from that. You can search these specific crypto assets, however, you can’t configure price movement alerts.
Crypto Portfolio Tracking
You can easily track your crypto portfolio on Bitsgap. You can view all your holdings, ROI (Return of investments), and positions.
In addition, you can also check your open orders and history.
You can also filter your portfolio for any specific exchange if you are using more than one crypto exchange.
Bitsgap provides three subscription plans. All the plans come with 14 days free trial.
If you are a beginner we recommend you start with the Advance plan because it included the arbitrage feature. You can get more what you pay for the Bitsgap if you were able to successfully execute an arbitrage.
Bitsgap Review: Pros and Cons
- Easy and fast start
- Simple configuration
- preconfigured trading bots
- Arbitrage opportunities
- Market signals dashboard
- All features in one place
- Free package for small budget accounts
- Gives 2 weeks of trial no credit card attached
- Limited trading bot functionalities
- No mobile app
Bitsgap Review: Conclusion
In conclusion, you can count on Bitsgap automated trading algorithms to generate a constant stream of revenue no matter the state of the market. Not to forget the additional features like stop-loss, take profit, exit strategies, and trailing up which ensure your safety and higher ROI (Return-on-investment).
Frequently Asked Questions
- Is Bitsgap legit or safe?
Yes, Bitsgap is safe and legit. The team has worked hard on its trading platform.
- Does Bitsgap have mobile app?
Bitsgap does not have a mobile app for iOS or Android devices, for now. But, Bitsgap has a fully responsive website and you can check it on mobile browsers.
- Does Bitsgap take any fees from trades?
No, there are no fees from trades. You only pay a monthly subscription fee for using the platform to have access to useful tools that make trading and managing crypto more efficient.
- What are the Pros and Cons of Grid Strategy?
The main advantage of trading on the grid is that it requires just a little of market forecast — in what direction the price is likely to go in the future. That’s why it is a great tool for beginners and regular traders.
But there are always some risks involved when you let this strategy be automated especially in unfavorable market conditions. A sudden price spike or drop may, and will affect your results. To protect your investment you can use either stop loss or trailing option.
- Does Bitsgap have access to my exchange wallet?
Bitsgap does not have an option to access your exchange wallet and make any changes there. Your funds will always stay on your exchange account.
- Quadency, a crypto trading automation platform launched in 2018. It brings you a smarter way to trade and manage your crypto. Also, read our Quadency review.
- 3commas is an online platform for people interested in trading cryptocurrencies using automated bots. It is especially attractive for people without a technical background in finance or extensive experience in stock markets. Also, read our 3Commas review.
- HaasOnline is one of the oldest and most reputable automated trading companies in crypto. Their distinguished reputation comes from their trade automation software that has been executing trading strategies for crypto traders since 2014. Also, read our HaasOnline review.
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Originally published at https://blog.coincodecap.com on September 4, 2020.