Bitsgap Review: Is It Worth It?
In this Bitsgap Review, we will be examining whether or not Bitsgap is worth your time.
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Disclaimer: We want to emphasize that this is not financial advice. Cryptocurrencies operate in a volatile market, where values can drastically fluctuate in a blink of an eye. It is imperative to conduct thorough research and seek guidance from a qualified financial advisor before investing.
Background and History
The surge in cryptocurrency trading volume has strained the market, overwhelming it with new investors and traders. This sudden influx has left many traders managing multiple exchange accounts to access specific markets or capitalize on arbitrage opportunities. It's a time-consuming and frustrating process to navigate between exchanges to find profitable trades. To address this challenge, Bitsgap emerged as a comprehensive solution. It offers a streamlined trading experience with an intuitive interface.
Bitsgap has integrated with over 30 major exchanges, including industry leaders like Binance, Kraken, and Bitfinex. The platform prioritizes security while delivering exceptional speed, giving users access to a wide selection of more than 10,000 cryptocurrency trading pairs. With a robust toolkit of indicators and bots, Bitsgap empowers users to craft their strategies and make informed trading decisions.
The platform's foundation is built on a range of features designed to maximize profits while minimizing risk. These include portfolio management for streamlined account tracking, automated trading bots that execute trades based on pre-set strategies, and identification of arbitrage opportunities for potential gains. Real-time alerts keep users informed about market shifts, while advanced charts and tools aid in technical analysis. Ultimately, Bitsgap has positioned itself as a comprehensive solution for traders seeking a unified and efficient trading experience in the complex cryptocurrency landscape.
Trading
Bitsgap also comes with a set of analytical trading tools to gauge the performance of all popular trading pairs. One can easily integrate the option of choosing a chart style and setting a time frame. To give you more control over your trading practices, there are different trading orders, including:
- Stop-Limit. A set price limit at which the trade is executed
- Market orders. The best available market price at which you can take a position instantly
- Take-profit / Stop loss. Limit a loss on a position should the market turn against your favor
- Shadow orders. Trade-off the exchange’s order book with the order executed only at your set price.
Trading Bots
The Bitsgap trading bot is an exclusive feature that allows you to make small but frequent profits on every market move. It is based on the popular grid strategy that involves placing a series of buy and sell orders within a given price interval. Your investment is distributed into multiple levels at which orders are executed, and new ones are placed. Some bot strategies available on the Bitsgap platform include:
- Classic bot. It involves buying and selling a fixed amount of base currency per order to profit from each completed trade. This strategy is proven to be successful in a rising market due to its investment distribution logic. For example, if you have 10 ETH as the base currency, the bot will buy and sell only that amount at each level.
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SBot. It is an upgraded version of the Classic bot, with the difference being the investment distribution logic. SBot buys and sells a fixed volume of the quote currency per order. For example, if you have $100 as principal, the Sbot buys $100 worth of ETH when the price declines. It’s the other way around when the price appreciates. Therefore, you accumulate more coins at lower prices and sell a lesser number of coins at higher prices. This strategy is synonymous with the DCA method and can be successfully used in sideways market conditions.
- Combo bot. If you are into futures trading, this bot can help you profit from both rising and falling markets. It combines DCA and grid algorithms to execute trades on every market move. The in-built trailing function of the bot automatically places both grid and DCA levels to generate returns endlessly.
Portfolio Management
Bitsgap has advanced portfolio tracking tools to help you manage your assets in one place. The trade portfolio becomes instantly available each time you add the API key of an exchange. The platform enables users to:
- Perform tracking based on past history
- Get a real-time view of balances, trades, and statistics
- Narrow down reports to display values only for selected exchanges
Security
Bitsgap's security architecture revolves around securing your funds within the respective exchanges. The platform employs encrypted API keys to establish connections, ensuring that no confidential data such as passwords or personal details are exposed. This encryption, using RSA 2048, offers a level of protection that is twice as secure as the standards employed by most banks. Notably, even Bitsgap's employees are barred from accessing sensitive information, maintaining a strict separation between user data and unauthorized personnel.
An additional layer of security is woven into the login process. The system enforces temporary lockouts for both your account and API following repeated failed login attempts. This proactive approach curbs unauthorized access attempts and adds a safeguard against unauthorized entry.
For users seeking heightened security, 2-factor authentication (2FA) is available. This extra step bolsters account protection by necessitating a secondary verification process beyond the conventional password entry.
Pricing
If you are thinking to use the Bitsgap platform, there are three subscription-based plans to choose from:
Basic Plan - $29/Month
The basic account allows you to engage in multiple exchanges, get access to a cross-exchange portfolio, and set up trading signals. The plan also includes two active trading bots with the demo trading option. If billed semi-annually, the price drops to $24/month.
Advanced Plan - $69/month
With a monthly trading limit of $100,000, the advanced account offers arbitrage trading, five active trading bots, and future bots. You can save $12/month by taking a 6-month subscription.
Pro Plan - $149/month
There’s no monthly trading limit with the pro version. You can leverage up to 20 active trading bots, future bots, and trailing bots. Furthermore, you get priority customer support for any issues. If you take a semi-annual subscription, the price drops to $123/month.
You have a limited free trial for each of these plans that give you access to all standard features. You can take advantage of the demo practice mode to understand the functionality before going for a paid subscription.
Your trading journey at Bitsgap starts in three simple steps:
- Sign up for a user account
- Link your wallets or exchange accounts using API keys
- Start trading
Bitsgap Pros & Cons
Bitsgap: Pros
- It's very user friendly
- Supports a lot of exchanges
- Preconfigured trading bots
- Customer support is great
- You can try it for free with a 14-day trial
- EV SSL Certificate and 2048-bit encryption
Bitsgap: Cons
- Doesn't have a mobile app for every device
Bitsgap Review: Verdict
Cryptocurrency trading has exploded in popularity, and there is a growing demand for technically-sound trading services. If you are looking for a secure and user-friendly platform that offers a combination of advanced trading tools and extensive portfolio management, Bitsgap is worth considering. It has come a long way since its launch and is expected to be available for other mobile devices in the future.
The free trial will surely give you a clear understanding of the features if you want to try the platform!
If you decide to sign up, you can follow the link below and get 10USDT OFF your first paid plan!
Nuno
As a filmmaker with extensive experience across multiple areas of content creation, my work has been featured internationally, and I’ve had the honor of serving as both a speaker and jury member at numerous prestigious events. However, in recent years, I’ve grown increasingly disillusioned with the direction of the art world, prompting a shift in my focus toward disciplines I believe will be pivotal for the future: cybersecurity, self-education, web design, and investing. These interests have culminated in the launch of RushRadar, a platform dedicated to exploring these vital topics and empowering others to navigate the evolving digital landscape.