If you’re looking to trade digital currencies from the comfort of your own home, you’ll need to make sure you’re using a platform chock-full of tools, insights, and of course, competitive fees and commissions.
That said, experienced traders often make use of different trades to access specific markets and pairs or take advantage of arbitrage opportunities. Moving from exchange to exchange can, however, be both cumbersome and time-consuming.
With this in mind, Bitsgap allows you to connect all your exchanges in one place. This comes with a plethora of points in favor, such as being able to execute arbitrage strategies with ease and deploy advanced bots to trade on multiple platforms simultaneously.
As such, Bitsgap has evolved to meet the many needs and expectations of cryptocurrency traders.
In this Bitsgap review, we explore everything there is to know about the cross-swap services offered by the provider.
Bitsgap at a glance
Bitsgap is advertised as a new way of trading on multiple exchanges, finding the best rates and effectively managing your portfolio. The platform allows you to bring all these elements together under one roof, providing access from a single account at the click of a button. It has carefully designed features that will allow you to:
- Quickly compare rates from digital currency market heaps
- Trade and instantly switch between exchanges
- Keep track of your investments
- Basic and advanced order types
- Take advantage of the price difference between exchanges using arbitrage
- Test your strategies through a demo account without risking any capital
Currently, Bitsgap is integrated with 30 exchanges, including Binance, Kraken, Bitfinex and others. Traders have access to over 10,000 cryptocurrency trading pairs and several technical indicators available to formulate your strategies. The platform offers an optimized and intuitive interface for both beginners and experienced traders.
What can you do with Bitsgap?
Below we reveal some of the main features available on Bitsgap.
Bitsgap’s trading section features a sleek interface that is fully functional. In order to make your trading experience as smooth as possible, Bitsgap offers the following capabilities and features:
- TradingView Charts
- Over 100 technical indicators
- Customizable chart types
- Viewing trading through charts
The trading area features an interactive chart screen, which includes your recent trades and open orders. You can also manage your balance on each of your linked trades, track any open positions, and view your trade history.
The interface allows you to easily switch between exchanges by clicking on the platform name above the chart screen.
Bitsgap has also set up several trading orders to give you more control over your cryptocurrency trading efforts.
- Stop-Loss and Take-Profit orders to limit losses in case your trade takes a turn for the worse.
- Shadow order that allows you to trade the order book of the exchange – with orders executed only when the set price is reached. The order will exist exclusively through instructions sent via API but will be hidden from other traders.
- Stop Limit orders are executed at a predetermined price, under which the order is considered as a limit order to buy or sell at the limit price.
- Market Orders allows you to execute orders instantly at the best available market price.
In addition, Bitsgap also provides a number of analytical trading tools to research the performance of all popular trading pairs. You can integrate the option to set a time interval, choose a chart style and work together with various indicators.
Cryptocurrency Trading Bot
The Bitsgap trading bot is a unique feature that allows you to make the most of the highly volatile cryptocurrency market. The bot ensures that your investments are distributed proportionally within the chosen range, so you can make small but frequent profits on every market move. Once the price reaches the desired range, orders are executed and new ones are placed.
The bot will ensure that, based on current prices, your buy and sell orders are automatically adjusted to find the best opportunities. The most significant advantage here is that the bot performs your operations instantly.
Thus, you have the opportunity to benefit from even the smallest of price movements in the market, while limiting your losses. Your investments are distributed according to your network strategy, dividing your price range into multiple tiers or grids.
There are two bot strategies available on the Bitsgap platform. First, the “Classic” bot uses the same amount of the equivalent of the base currency in each grid. This means that at each level it buys and sells the same amount of the base currency.
The “SBOT” strategy buys and sells different amounts of the base currency at each grid level. However, it also ensures a fair distribution of investments.
In order to use the trading bot service, you must have a minimum amount of funds available. This amount shall be determined by:
- The minimum order size of the selected pair in the respective exchange
- The number of orders placed by the bot
After connecting your exchange API to the Bitsgap trading bot, you can choose the bot to work on the trading strategy of your preference. Bitsgap has already set several predefined strategies demonstrated through backtesting.
If you want to test a new strategy or make sure everything runs smoothly, the backtest feature can demonstrate how your bot would respond to market changes.
Since the trading bot can be used in conjunction with the other features, you won’t be choosing between the two different options of the platform. Instead, it will increase your chances of profit, making the platform more attractive to users who make more trades on a daily basis.
Signals are bitsgap’s way of keeping you up to date on significant market changes. These will inform you of price anomalies. If there is any significant movement in the value of a cryptocurrency, you will be notified. It will help you stay on top of all your trading pairs and act quickly if the market enters or goes against your favor.
Bitsgap collected data on the trends of different cryptocurrency trading pairs. If a coin begins to show an irregularity outside the ordinary model, it will be placed on the list of signals. In addition, the platform also uses technical indicators to check if a quick move could be considered a trading signal.
Bitsgap’s trading signals are very useful to help traders set the right stop-loss and take-profit orders to curb risk. You can filter what constitutes a signal for you based on signal strength, percentage of increase, exchange, and time.
Trading on different exchanges might seem like a complicated task. However, it can be very helpful in benefiting from arbitrage opportunities.
For example, let’s say you’re buying a cryptocurrency on an exchange where the price is lower. You can gain an advantage by selling the same amount of the same cryptocurrency on another exchange where the price is higher.
This is known as crypto arbitrage. Usually, it is a set of cryptocurrency trading orders of the same pair that takes place simultaneously, but on two different exchanges. While this may seem almost impossible to do manually, Bitsgap makes it seem easy by combining the powers of its automated, AI-powered system.
At Bitsgap, your arbitrage potential is calculated based on your account balance. You can also choose from crypto-to-crypto and crypto-to-fiat arbitrage opportunities.
Taking into account the different fees and commissions charged by competing exchanges, Bitsgap will include it in its estimated profit percentage. This makes the process more efficient, allowing you to proceed with an arbitrage trade if the numbers accumulate.
Another area where Bitsgap shines is in its extensive portfolio management function. Every time you add an exchange’s API key, trade wallets become available to you.
Your Bitsgap wallet:
- Automatically update all transactions
- Monitor based on your trading history
- Simplify access to all your crypto assets
- Give you a real-time view of your operations, performance, and balances.
Above all, what is impressive is that you can mine these wallets in your system. You can customize and filter reports to view and reflect on your trades on particular trades.
Bitsgap demo account
Importantly, it is important to emphasize the value of using a demo account when trading. As more and more new traders venture into the cryptocurrency trading scene, this particulate matter is becoming more and more fundamental.
Bitsgap’s demo feature comes preloaded with simulated “paper money” and will allow you to trade with zero financial risk.
Through the Bitsgap demo account, you can:
- Get access to 5 major crypto exchanges
- Practice trading 5 BTC in virtual funds
- Real-time market trading experience
- Try trading strategies
- Try signals, trading robots and arbitrage.
How Bitsgap ensures security
When you trust any service with your money, you need to be more cautious about ensuring that your capital is in safe hands. Or not, in the case of Bitsgap.
The platform emphasizes that you and only you have access to your funds. Bitsgap has detailed how it deals with security issues in different areas.
All login attempts are protected, and if you try from an unknown device or location, you’ll receive an email immediately. The system will also authorize a temporary block from both the API and the account if repeated failed login attempts occur.
In addition, you are also encouraged to use 2FA for your Bitsgap account and your associated email ID. This will provide an extra layer of security on your funds and personal data.
Your funds are protected in the respective exchange and only connected via your fully encrypted API keys. These APIs allow Bitsgap to perform operations and collect information on your behalf. Other than that, the API does not provide any personal data.
All forms of information that are passed through are encrypted and protected by a firewall. In simple terms, this means that Bitsgap cannot view or extract sensitive information held by the exchange in question.
You decide your API key settings. If you have enabled withdrawal options, your API key will not be accepted. Your exchange wallet will contain the funds and you will not be able to make withdrawals or deposits through Bitsgap.
Employees have access only to their area of expertise. No account information and sensitive data is transmitted outside the corporate network or to third parties.
System and Server
Bitsgap uses RSA 2048 encryption on all its services. Generally, most banks and other financial institutions use 1024-bit encryption, while Bitsgap points out that they offer twice the protection.
Are you thinking of using Bitsgap? In that case, you’ll have several plans to choose from, both free and paid.
Free Plan at $0
The free plan is, in fact, a trial plan available for use for 14 days. All standard features are included in this plan, along with a monthly trading limit of $1,000. We strongly recommend that you take advantage of this free trial to understand how the platform works before opting for a paid version.
Basic plan at $19 per month
The basic account comes with all the standard features and allows you to engage in unlimited exchanges. However, there is a trading limit of $25,000.
You also have access to your cross-exchange portfolio and can set up trading signals and extended order types. The demo trading option is also available along with two active auto trading bots.
Advanced plan at $44 per month
This account gives you all the benefits of the basic plan, with a monthly trading limit of $100,000. There is also an increase in the number of active trading bots from 2 to 5. In addition, you can also benefit from Bitsgap arbitrage services.
Pro Plan at $110 per month
The Pro plan is best suited for traders who are looking for unlimited limits on unlimited trades. You can also set up 15 active bots to trade in real-time market conditions. Pro plan owners will also receive priority support.
Note: Bistgap does not charge any fees for any trade. All its services are included in the monthly subscription fee. Any transaction fees are imposed by the respective exchange you are trading on.
How to get started with Bitsgap
Your trading journey on Bitsgap starts with three simple steps.
- Create your user account
- Connect YOUR exchange APIs.
- Start trading
The registration process can be completed by entering your email ID and setting the password. You will only be prompted to confirm your email ID to complete the setup.
In addition, you can also link your account to Google or Facebook and gain access through your account login credentials of the respective platform.
APIs can be obtained from your exchange accounts. All trading operations on Bitsgap are processed via your unique API key. It is one of the safest and most reliable ways to use any platform, as it does not authorize anyone else to access your funds or data.
Is bitsgap worth using?
It’s worth noting that Bitsgap has come a long way since its launch. The platform’s number one priority is to ensure that its features are up to date with industry standards, if not a step forward.
Its API function was taken to bridge the technological gap between exchanges, as well as increase efficiency and security. Where it is missing is in its resource department.
Although there is a dedicated knowledge base, it still fails to provide a complete overview of how to use the software. That said, if you really want to try the platform, the free trial should give you a better understanding of how its features work.
You’ll need to have accounts set up on each exchange separately, which means you’ll need to deposit funds at each platform. Bitsgap is not licensed by any regulatory body, so keep that in mind.
However, there are some areas where Bitsgap really shines.
- Easy setup and integration with exchanges
- Fully automated trading bots
- Secure trading with 2048-bit encryption
- Extensive portfolio management
- Get trading insights
- Availability of predefined market strategies
- A long list of supported currencies and exchanges
Given that Bitsgap aims to make cryptocurrency trading more accessible, it would also be nice to have a mobile app to access all the services on the go.
Cryptocurrency trading is now mainstream, which means there is a growing demand for technically savvy trading services. If you are looking for a combination of advanced trading tools, technical indicators and ease of use, Bitsgap is worth considering.
Overall, Bitsgap is a secure, secure and fully encrypted platform to trade with. The automated trading algorithm is clearly an amazing advantage, which allows you to generate a steady stream of revenue with very little risk.
The platform also offers you several ways to control your trades through a variety of market orders and exit strategies.
Considering how far the platform has come, it’s fair to expect Bitsgap to introduce more resources in the future. All in all, you have very little to risk by trying out the platform via its 14-day free trial.