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Bitsgap Review: Should You Use This Trading Bot?

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Bitsgap Review: Should You Use This Trading Bot?

Bitsgap is an automated cryptocurrency trading platform. Here, you can find multiple trading robots, orders based on algorithms, demo trading, and portfolio management features. According to the vendor, this platform lets you take advantage of the price fluctuations in the market with minimum risks.

Bitsgap overview

The parent company behind this platform is based in Tallinn, Estonia. Maxim Kalmykov is the CEO of the company, and the other key members of the team include Chief Strategist Dmitri Laush, COO Sergei Verbitski, CTO Jevgeni Avdeev, CFO Anatoli Girenko, and Ervin Kougija who is the head of customer support. There are ten full-time developers, three support representatives, and a full-stack marketing team. We don’t know when the company was founded.

Bitsgap quick summary

Let’s look at the key aspects of the platform:

  • More than 25 supported exchanges
  • Integration with TradingView charts
  • Multiple types of orders
  • Backtesting functionality
  • Readymade trading strategies
  • Smart strategy design

What does Bitsgap offer?

After you open an account on this platform, you need to connect to an exchange and then you can start trading immediately. There are several in-built strategies you can choose from. Alternatively, you can create your own strategy. Bitsgap lets you backtest your trading schemes to see whether they are profitable or not. Also, you can assess the performance of the bit using TradingView charts. This is a cloud-based platform, so you don’t need to download any programs. 

Bitsgap reputation

There are a lot of reviews for this trading bot on trusted third-party websites. Looking at the positive ratings, we can say that it has a decent reputation.

What crypto exchanges are supported?

Here is a list of exchanges supported by this system:

  • Binance
  • KuCoin
  • Okex
  • Bybit
  • Kraken
  • FTX
  • Bitfinex
  • Huobi
  • Coinbase Pro
  • Bittrex
  • HitBTC
  • CEXIO
  • Poloniex
  • Bitstamp
  • Gemini
  • Gete.io
  • Liquid
  • Therock
  • EXMO
  • Bithumb
  • Bibox

Price

There are three pricing plans called Basic, Advanced, and Pro. The monthly charges for these plans are $29, $69, and $149, respectively. With the Basic plan, you can use two trading bots, while the Advanced and Pro plans let you use five and twenty bots respectively. There is a 7-day free trial for all the plans.

Security and privacy of Bitsgap

The platform does not have access to the user’s funds. They remain on your exchanges, to which the system connects using API keys. Thanks to API, you can execute orders without divulging your personal information. The user’s data are stored in encrypted servers and there is a 2-factor authentication that adds an extra layer of security.

Are traders happy with Bitsgap?

User reviews for Bitsgap on Trustpilot.

The trading bot has a high rating of 4.4 out of 5 on Trustpilot based on 283 reviews. Several users have praised the prompt customer assistance and the user-friendly interface.

Profitability of Bitsgap

The profitability of the system largely depends on the market conditions and the strategy you are using. As per the vendor’s recommendations, you should run the system in a neutral or swing market.

Deposits, withdrawals and fees

There are no fees for conducting trades on this platform. You don’t need to make any deposits and withdrawals.

Advantages of Bitsgap

Here are the advantages of this system:

Demo trading facilities

You can gain some much-needed experience thanks to the demo accounts. You can practice with 1 BTC and $10,000 in virtual money. The demo tool replicates a real order book from supported exchanges.

Tracking and monitoring

You can monitor BTC and more than 1800 other crypto coins. All the data from multiple exchanges can be imported into a single dashboard for free. This way, you get a live overview of your performance, trades, and balances.

Helpful guide

The official website has a knowledge base. Here, you can find a wealth of articles that will help you with any issues you might face.

Disadvantages of Bitsgap

Let’s look at the disadvantages of this platform:

No mobile app

There is no mobile application for this trading bot. This means you cannot conduct trades on the go.

Expensive plans

The monthly plans are not cheap. When you add the exchange fees, trading can be quite expensive.

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