Given crypto’s always-open market, many crypto traders now use trading bots to automate their trading. One such bot is Bitsgap, the popular automated bot service from Estonia.
In this review, we will examine Bitsgap’s major features and point out what sets it apart from other crypto trading bots, so you can make an informed decision about using it. Read on to see what it has to offer.
- Open a Bitsgap account today and start your free 7-day trial.
- Available on over 15 brokerages, including Binance, Kucoin, OKEX, etc.
- Offers a lot of features, including trading bots, trading terminals, demo account, and more.
Inside this review
What is Bitsgap?
Bitsgap is a platform for trading cryptocurrencies using automated bots. It is not an exchange and does not hold your crypto assets, i.e. it is non-custodial.
The platform comprises a suite of bots, each designed for a different investment or trading goal.
Once configured, the bots will execute a trading strategy on your behalf around the clock.
Who owns and operates Bitsgap?
Bitsgap is owned and operated by Bitsgap Holding OÜ, a company registered in Estonia. Its current CEO is Max Kalmykov.
The company’s headquarters are located in Estonia, which is also where 3Commas, another trading bot, calls home.
According to their page on InfoRegister, Bitsgap is a successful and profitable business. They employ more than 100 staff, but most of them are remote and so do not appear as salaried in the company’s corporate filings with Estonian authorities.
Is it safe?
More than 500,000 traders think so. User reviews of their service are overwhelmingly positive on Trustpilot, Google Reviews, and Reddit.
As is the case with other trading bots, Bitsgap is non-custodial. They do not hold your digital assets. Instead, they connect with exchanges via an API and issue trades to be executed on the exchange (where your assets are stored).
Bitsgap uses Hardware Security Keys/FIDO2 as a 2FA method to secure users’ accounts and funds. It connects to the user’s account at a supported exchange using a unique API key.
Users’ information is encrypted with 2048-bit standard protocols and stored on a secure network, protected by a firewall.
How does it work?
Like any other trading bot platform, Bitsgap first must connect to the user’s exchange. You’ll need an API key from the exchange in order to do so. Bitsgap can connect to several exchanges with different accounts and execute multiple trades. This is a self-serve process and there is no review.
Once connected, you can configure the bots you want to use with specific information such as the buy price, sell price, and other details. The bot will then carry out trades automatically using these rules.
Who is it aimed at?
Bitsgap is a bot trading platform suitable for any level of trader, but it is fair to say that it is not going after the experienced trader.
Its design is extremely user-friendly — there are no complicated charts and screens to see here.
Configuring a bot on the platform does not require much knowledge and absolutely no coding knowledge. Anyone can use it to trade on auto pilot.
Fees and charges
Users can choose from three subscription plans: Basic ($24 / month), Advanced ($57 / month), and Pro ($123 / month). All plans offer a 7-day trial period.
This pricing model is similar to that of most competing platforms, although there is no free tier. For example, 3Commas has monthly subscription plans. But the number of bots that you can configure and trade with on Bitsgap is better.
The following crypto exchanges are supported on the Bitsgap platform: Binance, Bitfinex, Bithumb, Bitrex, Bybit, Coinbase Pro, Gate.io, FTX, Gemini, HitBTC, Huobi, Kraken, Kucoin, Liquid, OKX, and Poloniex.
There are three bots available on Bitsgap.
Use this bot to break your trades into grids to take advantage of every price move. This works with postponed limit buy and sell orders in predefined price intervals.
The Dollar Cost Averaging (DCA) bot enables you to buy an asset at different price levels at fixed intervals so the overall price is reduced.
This bot is used for trading futures. They use funds borrowed from an exchange for a recurring fee. While this is a higher risk strategy, it also has the potential for higher rewards.
With a demo account, users can try out the platform and get familiar with it before using real funds to trade. Particularly useful if you are comparing bot platforms.
Predefined strategies with backtesting
Bitsgap has predefined strategies available for traders using their bots. Users can select any strategy based on successful backtest results which determine how reliable a strategy is.
Pros and cons
- User-friendly platform with high-quality design. Bitsgap has been designed for even the most novice trader to use.
- Strategy backtesting is available. This means you can see how a strategy would have performed using historical data.
- Demo trading lets users pre-test the platform. The fact that this is available without having to sign up for a paid plan is a benefit.
- Supports a long list of top exchanges. Bitsgap supports several of the top exchanges.
- Even the lowest plan has the option to set up several bots. Some competitors really limit what you can do with cheaper plans.
- No copy trading. This feature is not widely offered on trading bot platforms, but it is very popular.
- It’s not the cheapest option. There are cheaper alternatives, but what you can do with them has to be taken into consideration since they’re often hobbled.
- Coinrule. A beginner-friendly platform. Users can configure their own rules.
- Cryptohopper. Trade with pre-defined rules or make your own.
- 3Commas. Easy-to-use platform for both experienced and novice traders. Copy trading and demo accounts are available.
- Pionex. An exchange with a suite of bots. More suitable for intermediate to advanced traders.
Is it worth it?
If you are just exploring using bots to trade crypto, Bitsgap is one of the better options currently available. It has been designed to use without any special knowledge and you can set up a lot of bots, even on the cheapest plan. There is a trade-off though: Bitsgap’s monthly fee is on the higher end and it lacks the social and copy trading feature that would appeal to beginners.
An experienced trader looking to set up complex trading strategies would probably be better off looking elsewhere.