The growing popularity of digital assets leads to an increased demand for optimizing the trading process and improving results. Many market participants prefer to use trading bots. They automatically perform repetitive tasks, execute trades based on predetermined parameters, and allow you to profit without the need to constantly monitor charts. Bitsgap has been offering solutions to simplify trading since 2016. The review provides information about the cryptobots available on the platform. Users will also find out which exchanges the service supports, how much the subscription costs and how to start trading with automated software.
About Bitsgap
The company was founded in 2016 in Estonia. Initially, Bitsgap was a cloud-based platform for arbitrage of digital assets on 6 cryptocurrency exchanges. Then the platform turned into a full-fledged trading terminal with automated bots.
The project team consists of experienced traders, security specialists and marketers. The main goal of the platform is to simplify trading in digital assets by automating the process of buying and selling coins. Bitsgap acts as a link between exchanges and market participants, integrating with 16 leading platforms through the use of APIs.
The platform has quickly become one of the leaders in the cryptocurrency trading bot industry. Bitsgap serves 500 thousand users from all over the world, and the number of automated tools launched exceeds 3.7 million.
Platform capabilities
Bitsgap is a complete ecosystem for automated cryptocurrency trading. The main features and capabilities of the platform:
- Trading Bots. The platform offers a large selection of pre-programmed tools that are suitable for various strategies including Grid, DCA, futures and scalping.
- Futures trading. There are only a few platforms that allow you to create bots for this type of trading. Bitsgap users can set up a Combo BOT and a DCA Futures Bot.
- Tools for TA. The trading terminal provides indicators, a general summary of technical analysis of cryptocurrencies, which help to make informed decisions about buying and selling coins.
- Portfolio Management. This feature allows traders to track assets, earnings and losses on each connected exchange in real time.
- Demo account. Beginners can familiarize themselves with the bots’ functionality, explore the trading terminal and experiment with different strategies before trading real coins.
Trading Bots
Bitsgap offers automated programs for trading on spot and futures. The bots are suitable for different market conditions. They allow users to open both long and short positions, as well as trade during periods of market consolidation. The following tools are available:
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- GRID-bot. This tool is suitable for trading in sideways market conditions with low volatility. GRID-bot places a grid of orders around the current price of the asset and automatically places a new order when the rate reaches one of the specified values.
- DCA-bot. This software implements the Dollar Cost Averaging strategy, which allows users to regularly buy cryptocurrency at a fixed price, regardless of its current value. There are 2 such bots available – for spot and futures.
- BTD-bot (Buy the Dip). The tool monitors price changes on the market and makes transactions, buying cryptocurrency when the rate falls (dip) and selling when it rises.
- COMBO-bot. This tool combines Grid and DCA algorithms and is designed for trading on the futures market. COMBO-bot allows you to use both strategies for a more flexible approach to trading.
Smart trading
Bitsgap provides users with an advanced trading terminal with chart integration from TradingView. Traders have access to over 170 indicators and 50 technical analysis tools. They can place different types of orders:
- Take Profit (TP). Allows to lock in profits.
- Stop Loss (SL). Helps to minimize losses.
- Trailing TP/SL. Adjusts the stop price by a fixed percentage relative to the market rate of the cryptocurrency.
- OCO (One Cancels Other). This is a pair of conditional orders to automatically cancel one order if the other is executed.
- TWAP. It is a strategy of evenly executing trades over a certain period of time.
- Scaled. An order that places a series of 100 limit orders to buy and sell coins in a specified price range.
The trading terminal has a simple and user-friendly interface. Users can switch between exchanges with a single mouse click. In addition, the platform provides an opportunity to customize the charts according to personal preferences. You can choose timeframes, type of price display (Japanese candles, bars, columns and others), and design options.
Trading in demo mode
This is a convenient feature that allows you to test bots without the risk of losing money. In demo mode, an isolated environment is created that simulates real market conditions. After account activation, participants receive virtual assets – 10 BTC and 102 thousand USDT. 11 exchanges and all cryptobots are available for such trading. Investors can:
- Place all types of orders.
- Open long and short positions.
- Launch bots.
- Track portfolio, profit and loss changes.
With a demo account, beginners can hone their skills and learn how to use Bitsgap tools. Advanced traders use this type of trading to test new strategies and techniques.
You can switch between the demo version and Live mode at any time.
Fee plans
Bitsgap offers 3 paid subscriptions that can be paid monthly or annually. Each plan includes a 7-day trial. To activate it, you do not need to enter bank card details. It is enough to register on the site.
For payment, traders can use credit and debit cards (Visa and Mastercard), PayPal e-wallet, Bitcoin and more than 50 altcoins, including Ethereum, Litecoin, Binance Coin and others. If you purchase an annual subscription, you get a 20% discount.
How to launch the bot and connect to the exchange
To start trading on the Bitsgap platform, it is required to create an account. Users must enter an email address, come up with a strong password, and follow the link in the email to confirm registration.
Bitsgap supports 16 cryptocurrency exchanges: OKX, Binance, Bitfinex, Bitget, Bybit, Gateio, Huobi, KuCoin, Poloniex and others. Bots connect to trading platforms via API.
The developers of the trading automation platform have provided detailed instructions for setting up keys on cryptocurrency exchanges. They are available in the “Knowledge Base” section. A quick guide on how to use Bitsgap on Bybit:
- Open the official website of the crypto exchange.
- Hover your mouse over the profile icon in the top right corner of the screen.
- Go to the API section and generate a key.
- Select the “Bind to third-party application” option and specify Bitsgap.
- Configure the API key permissions according to the instructions in the Knowledge Base section.
- Copy the created API and secret key.
- Return to the Bitsgap website.
- Open the “My Exchanges” section and select the Bybit trading platform.
- Paste the copied API data.
Traders can now start setting up bots for automated trading. Detailed guides on how to use each tool are also available in the “Knowledge Base”.
Advantages and disadvantages of Bitsgap
Cryptocurrency market participants often resort to using trading bots. Such programs greatly simplify the trading process, respond quickly to changes in the prices of digital assets and minimize the probability of errors associated with the human factor.
Bitsgap is one of the most popular platforms for automating coin trading. The table lists the advantages and disadvantages of the service.
| Pros | Cons |
|---|---|
| There is a 7-day free trial version | No mobile application |
| Convenient trading terminal | Some sections in the “Knowledge Base” are not translated into Russian |
| Supports a large list of cryptocurrency exchanges and digital assets | |
| Competitive subscription rates are set |
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Author: Saifedean Ammous, an expert in cryptocurrency economics.
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