Bitsgap Reviews: Is This Crypto Trading Bots and Automated Trading Platform Safe?

Established in 2017 by Max Kalmykov, Bitsgap started out as a cloud-based trading platform whose main goal was to offer arbitrage opportunities on 6 different exchanges. Over time, the app grew into a full-fledged trading terminal that could be used with automated trading bots. New features were added all the time.  

Bitsgap is now an app for trading cryptocurrencies. It has a wide range of trading bots and smart trading features. Its main goal is to make trading less stressful by automating almost every part of it.  

So, Bitsgap bot trading will let users connect to different cryptocurrency exchanges and place orders that will be carried out automatically when certain conditions are met. It also lets traders use smart trading features like Bitsgap stop loss and Bitsgap trailing, even if they aren't available on the exchanges themselves.  

People can mostly use the Bitsgap crypto bot for spot trading since Binance is the only place where they can trade in futures markets. We will give an in-depth overview of the Bitsgap futures bot at the end of this article.  

As a result, it has become a useful all-in-one trading platform that lets people automate their trading and manage their portfolio across multiple exchanges. 

How Does Bitsgap Work? 

Bitsgap connects to the cryptocurrency exchange account through an API key and makes trades on exchanges that support it. As such, it will be a way for third parties to open and close orders, both manually and automatically, through a third party.  

Here is a quick guide on how to use Bitsgap to help get started:  

Give an email address to make an account.  

Connect one or more exchanges that the platform supports to this account.  

Start placing orders by hand or make a Bitsgap cryptocurrency trading bot that will trade.  

BitsGap Key Features 

Easy to Use Interface 

The interface of Bitsgap is pretty easy to use, and it gives three main features:  

1. An interface to set up smart trading orders manually.  

2. A module that lets users make different crypto bots, such as: A DCA bot for trading on rising or falling markets; grid bots (Classic & Sbot) for trading in sideways channel markets; A futures bot that combines grid trading and DCA; A scalper bot for repeated earning of several small profits.  

A portfolio manager lets users see all of their assets on all of the connected exchanges. This module also lets them keep track of their active bots, check their open positions, and look at their trading history.  

Demo mode 

 A demo account lets users try out the platform and get used to it before they trade with real money. This is especially helpful if they want to compare both platforms.  

Predefined strategies with backtesting 

Traders who use Bitsgap's bots can use strategies that have already been set up. Users can choose any strategy based on how well it did in a backtest, which shows how reliable it is.  

All in all, Bitsgap has everything a trader needs to make their life a lot easier. 

Exchanges that Bitsgap supports 

• Binance 

• Bybit 

• Kraken 

Available bots  

Bitsgap has three bots that can be used.  

• Grid  

Use this bot to divide trades into grids to take advantage of every change in price. This works with buy and sell orders with price limits that are set to come into effect at a later time.  

• DCA  

The Dollar Cost Averaging (DCA) bot lets users buy an asset at different prices at regular intervals. This lowers the price of the asset as a whole.  

• Future Trades 

Use this bot to buy and sell futures. Traders borrow money from an exchange for a fee that keeps coming back. Even though this is a riskier plan, it also has a better chance of paying off. 

How does Bitsgap find chances for arbitrage?  

On some exchanges, the trader's account balance is used to figure out possible deals, and they can choose between crypto and fiat arbitrage.  

AI and Automated bots such as Bitsgap are much better than manually looking for arbitrage deals. If users have to click dozens of commands on different exchanges, they are likely to miss these opportunities before they can take advantage of them. With Bitsgap arbitrage, it only takes one click to make a trade.  

How does Bitsgap figure out the best trading opportunities?  

Bitsgap's algorithm keeps an eye on tens of thousands of crypto pairs 24 hours a day, seven days a week, to look for strange things. So, traders can see which coins are the best to trade and set a Smart Order, which is a Bitsgap-specific order.  

Smart-Order is a combination of Stop-Loss and Take-Profit orders that happen at the same time. Bitsgap will finish the order as planned if one of the conditions that the trader set up is met. When these orders are combined, the risks go down by a lot, and profits are safe even when one is not online and trading. 

Getting started on Bitsgap 

Even though Bitsgap has a lot of options, signing up is easy. People can sign in right away with Facebook or Google, or they can use a standard email address form to sign up. Once they are in, they will need to connect exchanges where they have money. This is done with API keys, which is a standard method.  

After that, they can use Bitsgap as they want.  

Here are the three easy steps to get started on Bitsgap:  

1. Sign up  

2. Create a free account on Bitsgap.  

3. Connect exchanges  

4. The trader's money will stay on the exchange's balance, and Bitsgap won't be able to get to it.  

5. Start trading in digital currencies.  

6. Bitsgap uses high-end 2048-bit encryption to keep all orders safe. 

How can it be used?  

Bitsgap is a trading platform for bots that can be used by traders of any skill level, but it is safe to say that it is not aimed at experienced traders.  

It is very easy to use because of the absence of complicated charts and screens.  

Setting up a bot doesn't take much knowhow, and traders don't even need to know how to code. It can be used by anyone to trade on its own.  

Is it safe?  

More than half a million traders agree that Bitsgap is a safe and secure bot. Most of the reviews of their service are positive.  

Bitsgap is like other trading bots in that it doesn't hold on to traders' money. Their digital assets are not in their hands. Instead, they use an API to connect to exchanges and send trades to be done on the exchange (where your assets are stored).  

Bitsgap uses Hardware Security Keys/FIDO2 as a two-factor authentication (2FA) method to protect users' accounts and money. It uses a unique API key to connect to the user's account at a supported exchange.  

The information about users is stored on a secure network that is protected by a firewall and encrypted with 2048-bit standard protocols. 

Pricing 

• The basic plan costs $29 per month and gives people access to different exchanges, a cross-exchange portfolio, and the ability to set up trading signals. Users can run two trading bots at the same time.  

• The Advanced plan costs $69 per month and lets people trade up to $100,000 per month. The extra benefit is that they can trade in arbitrage, use five active trading bots, and use futures trading bots.  

When users sign up for six months at once, the price of all plans goes down.  

This pricing model is similar to those of most competing platforms, except that there is no free tier.   

Customer Support 

So, if people decide to buy one of the Bitsgap packages, who will help them if something goes wrong or if they have an emergency?  

Bitsgap offers chat support from the platform to keep up with other similar trading bots. Based on the trading experiences of people who reviewed the bot's customer support service online, their responses are quick and helpful. 

Pros  

• A platform that is easy to use for pros and beginners alike.  

• Demo trading lets people try out the platform ahead of time. A benefit is that traders don't have to sign up for a paid plan to do this.  

Cons  

• There is no copytrading. Not all trading bot platforms have this feature, but it is a very popular one.  

• It's not the least expensive choice. There are cheaper options, but traders have to think about what can be done with them because they are often limited.  

FAQs 

How does arbitrage work on Bitsgap? 

Arbitrage is the process of buying and selling a coin at the same time to make money from a difference in price. It is a group of trades that make money by taking advantage of the difference in the price of the same trading pair on two or more crypto exchanges. Bitsgap automatically takes arbitrage actions based on what users tell it to do. 

Conclusion 

Bitsgap is one of the best places to start trading crypto with bots if people are just getting started. It's made to be easy for anyone to use, and even with the cheapest plan, one can set up a lot of bots. But there is a trade-off: Bitsgap has a higher-than-average monthly fee, and it does not have the social trading and copy trading features that beginners would like.  

Experienced traders who want to set up complicated trading strategies might want to look elsewhere.