Cryptocurrency bots have become quite popular these days. This is because a person cannot stay awake all day and night, so many traders make use of bots that are quite useful to generate profits as a kind of extra income 24 hours a day. And currently one of the most popular bots that is used in automated cryptocurrency trading is Bitsgap. In this Bitsgap review, we will do a complete analysis about this bot is it worth it?
What is Bitsgap and how does it work?
Good, Bitsgap is one of the best cryptocurrency trading bot or a next generation platform Multi-exchange automated trading platform that offers advanced charting, semi-automated arbitrage interface, as well as comfortable solutions for managing your cryptocurrency portfolio from a single location.
Why use Bitsgap?
There are several advantages to using the Bitsgap robot. Let’s start by summarizing the most important aspects before providing a full Bitsgap review.
Bitsgap provides traders with essential tools such as:
*. One point: Access to over 20 cryptocurrency exchanges through one general platform, including Binance, Bitfinex, Kucoin, Gate.io.
*. Market view: An overview of over 4,000 cryptocurrency pairs.
*. Trading information and statistics: Accurate portfolio overview, which means you don't have to manually track each setting as the system keeps track of all the statistics for you.
*. Commercial price differences (arbitrage): offers a cross-market trading platform with fast 6 millisecond data calculation and 1-click arbitrage
*. Security: the presence of the EV SSL certificate, used to encrypt all transmitted user data, verified login attempts and, two-factor authentication, advanced algorithms to encrypt all passwords and much more.
Theft concerns: → You can disable transfers, which means there is strong security protection against anyone abusing your Bitgap account to transfer your digital coins to a third-party account.
The cryptocurrency world has been in dire need of a service like Bitsgap. As cryptocurrency trading becomes more accessible, so does the need for advanced analytics tools. Traders may be familiar with robust analytics solutions like Coingy or TradingView, which despite its already established status still (in the third quarter of 2018) Bitsgap Dared to Help Traders with Arbitrage Trading – one of the main values offered by the Bitsgap Platform (at the time of review, it is available only for Advanced and Professional plans).
Unlike TradingView, for example, Bitsgap not only takes care of this trading information, but also offers the ease of trading and managing all your settings from one platform. This eliminates the hassle of having to log in to multiple exchanges every time you want to make a decision.
From simple to Bitsgap is the next generation platform for cryptocurrency traders, elevating an amateur world of cryptocurrency trading to the level of commercial sophistication often seen in the Forex, CFD, stock and commodity markets.
Bitsgap: Charts and Trading Platform.
A Bitsgap It has all in one, functional and elegant design that should please most traders. Access is secure, of course, the main concern of all traders, but it doesn’t hurt to work with a transparent, fast and well-presented platform. And in my opinion, Bitsgap meets these requirements and offers a professional environment for traders.
Let's take a closer look at the available options, charts and platform settings. When you open the trading platform from the main website, a new URL will appear ( https://bitsgap.com/trading), which offers a web-based charting experience similar, perhaps, to MT4 web trading. This is where Bitsgap must improve if it plans to compete with services like TradingView – admired for its rich set of analytical tools and community.
In the middle of the screen, there is a price chart available for the exchange and cryptocurrency pair of your choice. You can click on the options to change the exchange and cryptocurrency pair, as well as change the timeframe (of the chart), bar type, indicators and other tools. There is also an option to expand the chart completely.
The platform also provides an overview of:
*. The order book (left) → which provides detailed market information on the number of orders from buyers and sellers at each price level. The order book is dynamic and continuously updated in real time and you can perform your trades as if you were inside the exchange. Amazing, isn’t it? There’s more…
*. The ability to make requests and alerts (left) → which allows traders to instantly access and manage trading settings.
*. Trading Overview (bottom) → which shows open orders, balance, transaction history and messages.
*. Recent negotiations (right) → which provide an overview of price and transaction volume information for recently executed orders.
*. Cumulative volume (bottom right) → which presents data on the volumes being traded and the depth of the market. In a way, it is a visualization of the order book and helps to understand the momentum, trend and support and resistance levels of the market, Top isn't it?. In short, it provides vital information about demand and supply in the market, which can be used to enter and exit setups.
A new feature was also recently added, allowing traders to compare two or more pairs at the same time. In addition, Bitsgap is always working on improvements.
Portfolio and Statistics
One of the many interesting features is the overview of your assets across multiple exchanges. Keep in mind that pending orders will not be shown as an asset (at least at the time of review).
The main window provides essential data about the value of your portfolio. You can check the value movement for any period you choose, but also focus on specific exchanges.
If there is only one exchange selected, the chart will show a breakdown of its coins. There is also the option to export files from your PC or cloud to the Bitsgap platform.
The windows in the bottom right and top corner also show portfolio values, but in a different way. The bottom one shows information such as the purchase price, the percentage change, and the amount per currency and per exchange as text. There is also information about your transactions. The top right one shows similar data, but in a graph.
Automated Arbitrage Trading
Have you ever seen price differences between exchanges and wondered if there is a simple way to profit from it? Yes, there is, and it's called arbitration.
An arbitrage trade is a set of transactions of the same pair (or any financial instrument) executed at the same time, but on different exchanges, to benefit from the price difference.
More precisely, you are primarily buying a coin on one exchange and simultaneously selling it on another exchange at a higher price, profiting from a price difference.
Bitsgap manages to offer traders a simple way to capitalize on price differences through its platform. The image below shows how you can benefit from buying a cryptocurrency pair on one exchange and selling the same crypto pair on a second exchange, all at the same time – with one click.
Bitsgap makes things more convenient as you can easily see the cryptocurrency pair you need to buy and sell and from which platform – all of this is done in the Bitsgap software. Even pairs with different high prices can be traded, which increases your yield. The only thing you need to do is make sure you have an account and balance on that particular exchange.
How to do automated arbitrage with Bitsgap?
The main aspects are:
*. You need to open accounts on different exchanges, I recommend the following: Main Exchanges
*. Check if you already have sufficient deposit balance on the exchanges in question.
*.Monitor the platform regularly.
.The indicated expected profit from arbitrage trading is already including all costs. This means that Bitsgap calculates the costs of fees etc. so that the profit obtained is more or less final (no hidden fees).
What's missing?
Nothing really. There are several tutorials within the Bitsgap platform on how it works for each section.
>>>Read Also: Top: Cryptocurrency mining sites
Bitsgap is safe and reliable
Yes, Bitsgap takes all security issues more seriously.
Bitsgap: Conclusion
In short, the Bitsgap is a next-generation platform for cryptocurrency trading and arbitrage with a strong team of entrepreneurs, investors, and software engineers supporting the development.
Just to recap, Bitsgap provides traders with vital information and tools such as:
*. Ease of trading a wide variety of currencies and platforms from one point
*. Market information, basic and advanced trading
*. Access to commercial data and statistics;
*. Ability to conclude arbitration negotiations;
*. Reliable and secure platform.
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