Skip to content
- Home
- /
- Crypto Trading Bots
- /
- Bitsgap review 2024: What...
Bitsgap review 2024: What We Do & Don’t Like
Swen Keller
- URL: https://bitsgap.com
- Year Founded: 2017
- Pricing: $29 to $149 for a monthly pricing plan or $23 to $119 monthly if you're saying annually
- Free Trial: Yes (7-day free trial)
- Payment Options: Credit card and debit card (MasterCard and Visa), Bitcoin, Ethereum, Binance Coin, PayPal, Litecoin, and 50+ altcoins
- Supported Exchanges: Binance, Bitget, Bittrex, Bybit, Coinbase Advanced, Gemini, Gate.io, Huobi, HitBTC, Kucoin, OKX, Kraken, WhiteBIT, and Poloniex
- Cloud Based: Yes
- Reported Profitability: Depends on the particular trading bot but the average monthly return is 30%
- Customizable Strategies: Yes
- Scalping: Yes
- DCA: Yes
- Arbitrage Bot: Yes
Bitsgap Review: Our Opinion
Bitsgap is an easy-to-use service that allows you to create active trading bots seamlessly.
The automated trading bots platform supports multiple exchanges and has a large selection of trading pairs and a fair pricing range starting from $26 monthly.
It also offers a 7-day free trial which allows you to test out its trading bots’ efficiency before committing to a monthly subscription.
That said, just like other trading bot platforms, Bitsgap crypto trading bots aren’t always in profit and some users have complained about not being able to make enough profits to cover the subscription fees.
An Overview of Bitsgap
Founded in 2017, Bitsgap is headed by Max Kalmykov as CEO. The company designed its active trading bots prototypes in 2016 using arbitrage trading opportunities as its initial strategy.
However, in 2017, the Bitsgap was fully launched and switched to being a cloud-based solution with the support of 6 cryptocurrency exchanges and arbitrage on over 190 crypto pairs.
Currently, Bitsgap supports over 15 crypto exchanges, supports 6,999+ currency pairs, and offers a series of trading bots including Grid bots, DCA futures bots, Scalper bots, etc.
The automated cryptocurrency trading bots platform also hosts 500,000 crypto traders from all supported exchanges with over 3.5 million active trading bots in use and $300 billion in trading volume.
Pros
- Easy to use
- Large selection of cryptocurrency exchanges
- Free trial available
- Offers analytical trading tools for tracking the performance of trading pairs
Cons
- Users complain of losses
Bitsgap review: Unique Features
Bitsgap Demo Account
Bitsgap offers a free demo account also known as paper trading that allows you to trade cryptocurrencies without risking your money.
Demo Trading is done with virtual currency, not actual funds. The trading environment and market conditions simulate the actual market.
This gives you a realistic cryptocurrency trading experience without the risk of losing your capital.
Demo trading is suitable for both beginners and advanced traders.
With the demo account beginners can sharpen their cryptocurrency trading skills and also learn how to use Bitsgap trading bots while advanced traders can use it to test new strategies and techniques to see how they perform before trading in the live market.
You can switch between the demo mode and the live account whenever you wish to.
Bitsgap gives you 10 demo Bitcoins on 10 popular exchanges. Supported exchanges include Binance, OKX, KuCoin, Coinbase Advanced, Bittrex, Kraken, WhiteBIT, Bitfinex, Huobi, and HitBTC.
The demo account simulates the order book of the supported exchanges so that you can enjoy the real trading experience and learn the markets.
Bitsgap offers a unified interface and tools for all your real and demo accounts.
To use the demo trading for the first time, you need to first switch to the Demo mode. Scroll to the top right corner of your screen, click on your profile, and then enable Demo mode.
Once turned on, the status will change to “ON”.
If you are a beginner Bitsgap recommends that you try out the following services to see how they work:
- Place Market or limit orders to see how the bot trading works.
- Run your first trading bot trade in a swinging market to earn profit while you are online.
- Create your first Smart Order to add extra risk management to your crypto trading.
- Monitor your Portfolio and its growth with each trade.
Once you have tested and mastered all these features, you can switch to real trading.
Combo Trading Bot
The Combo Trading Bot is one of Bitgap’s crypto bots developed for automated futures trading in the crypto market.
The bot is engineered to apply multiple strategies simultaneously and optimize your opportunities in the volatile crypto futures market when trading on different exchanges.
With the COMBO trading bot, you can leverage your potential up to x10 and trade in any market direction for a profit with USDT using prebuilt techniques or your strategies.
Futures allow you to trade large amounts of crypto borrowed from an exchange for a fee. This means your profit and loss are magnified many times.
The COMBO Crypto Trading Bot uses a combination of popular Grid and Dollar-cost Averaging strategies to maximize your earnings.
The bot, through the half Grid strategy and DCA strategy, uses the averaging technique for Buy orders and the grid technique for Sell orders with classic tools like SL/TP.
Depending on the market conditions, the bot determines which strategy is best to apply.
The COMBO trading bot offers hundreds of pre-made profitable strategies that you can choose from. These strategies have been tested on real data by the Bitsgap team.
Alternatively, you can make your own strategies by customizing every setting to make the strategy fit your goal.
Getting started with the COMBO bot is easy. All you need to do is sign up for Bitsgap, connect to an exchange account, Choose a combo bot, then pick a pair and run the bot.
The COMBO bot offers several features including Stop Loss, Take Profit, Backtesting, Trailing down, Leverage x10, and Manual Averaging.
The COMBO Trading Bot works with major cryptocurrency exchanges including Binance, Kraken, KuCoin, OKX, Bybit, Bitfinex, WhiteBIT, Coinbase, HitBTC, Huobi, Gemini, Bittrex, Poloniex, Gate.io, and Bitget.
Bitsgap offers 3 tariff plans for the COMBO bot: Basic, Advanced, and Pro. The cheapest plan starts at $23/ month.
The basic plan is designed for beginners and inexperienced traders while the advanced and Pro plans offer advanced boy settings and additional trading bots for expert traders.
There is a 7-day free plan which allows you to try out all Pro subscription features.
The COMBO Trading Bot operates through securely encrypted API keys. The keys do not have any authority to withdraw the funds in your exchange account.
Backtest
Bitsgap Backtest is a tool that allows you to analyze the efficiency of a bot with chosen settings.
With this tool, you can evaluate the performance of the Bitsgap trading bot based on the historical data of a trading pair for a selected period.
The results generated by the Backtest are for reference only. But they can give you insight and allow you to draw some conclusions about optimization settings for performance like the investment amount or grid quantity.
The Backtest tool can be accessed from the bot launch settings menu.
To use the Backtest all you need to do after changing the bot settings is to click the “Backtest” button to start the performance evaluation.
A window will be opened showing the estimated result of the bot’s work. The settings for the past N days will also be calculated and displayed.
You can also change the date range to set the time interval for evaluation. Bitsgap allows you to access trading history data up to 30 days from the current date.
To do this, go to the Calendar, select the start date and end date, and click the “Save” button. The performance of the bot with the same settings for the selected period will be automatically calculated.
If you want to analyze the bot’s performance with other settings, you need to return to the settings menu, make the desired changes and run the Backtest again.
Buy The Dip (BTD) Trading Bot
The BTD Bot is one of Bitsgap’s innovative crypto bots that automate the Buy the Dip strategy in cryptocurrency trading.
The bot monitors the market and identifies sudden price drops in cryptocurrency prices which allows you to buy low and maximize profit by selling high.
The BTD Bot is designed to work in any market condition. It is also customizable, this allows you to set conditions for triggering a buy order. There are also pre-made profitable strategies that have been tested on real data that you can choose from.
The bot fully automates the buying process, this reduces the risk of loss associated with human error and emotional trading decisions.
Features of the Bitsgap BTD bot include Stop Loss, Take Profit, Demo Mode, Backtest, Trailing Down, and Low/High Price.
You can connect the BTD bot to major exchanges including Binance, KuCoin, Kraken, OKX, Bybit, WhiteBIT, Bitfinex, Huobi, Coinbase, HitBTC, Poloneix, Bittrex, Gemini, Gate.io, and Bitget.
Supported Crypto Exchanges
Bitsgap supports 19 crypto exchanges. Supported exchanges include Binance, Bitfinex, Binance US, Bittrex, Bitget, Bybit, Coinbase, Gate.io, HitBTC, Huobi, Gemini, KuCoin, Kraken, OKX, WhiteBIT and Poloniex.
Trading Strategies
Bitsgap supports an ample selection of preset trading strategies including:
Grid Bots Strategy
The Bitsgap Grid bots strategy is to generate profits from small price fluctuations when the market moves sideways.
DCA Bots Strategy
The Bitsgap crypto trading bots that use the DCA trading strategy seek to generate low-risk profits in volatile markets.
To do this, the trading bot will invest in various cryptocurrencies at multiple levels to purchase them at lower prices and automatically buy or sell assets at the right time.
Bitsgap DCA trading bots allow you to place from 0 to 100 DCA when using the strategy. The DCA trading bots can also be used in sideways or dealing markets.
Bitsgap users can also choose DCA Long strategy or DCA Short strategy.
It uses trading signals via technical indicators to know entry and exit points.
BTD Trading Strategy Bot
This trading strategy studies the market, identifies sudden price drops, and buys low to gain profit when the price rises. You can also customize the conditions for triggering a buy order on this Bitsgap bot.
The trading strategy is ideal for investors who want to buy at a low price and hold for an extended period.
COMBO Strategy Futures Bot
This Bitsgap futures bot uses a half grid and half DCA strategy customized for crypto futures trading. It uses the DCA strategy for Buy orders and the grid technique for Sell orders. It also allows you to leverage up to 10x.
Customizable Strategies
Bitsgap allows you to customize all preset trading strategies using the Manual Adjustment option.
You can make changes to a trading strategy like altering the percentage of your balance used to trade, selecting whether to execute a Long or Short trade, where to position your take profit and stop loss, risk management, and much more.
In general, all strategies are fully customizable to the last detail.
Bitsgap Review: Plans and Pricing
Bitsgap offers 3 pricing subscription plans, which you can pay for monthly or annually.
If you decide to pay annually you’ll get a 20% discount on the monthly subscription fee.
Bitsgap Bots Basic Pricing Plan
This plan goes for $29 per month if you’re paying monthly and $23 per month if you’re paying annually. The annual option will save you up to $72 in subscription costs.
It features access to 2 active grid bots, 10 DCA bots, and unlimited automated smart orders.
Bitsgap Bot Trading Advanced Pricing Plan
The Bitsgap Advanced subscription plan costs $69 if you’re paying for the subscription per month and $55 per month if you’re paying annually. The annual option saves $169 in subscription fees.
It gives access to 5 grid bots, 50 DCA bots, unlimited smart orders, portfolio management, trailing up and down for bots, and futures bots.
Bitsgap Pro Plan
The Bitsgap Pro pricing plan goes for $149 if you’re paying monthly for your subscription and $119 per month if you’re paying annually. The annual option saves $360 in subscription fees.
This plan features 25 grid bots, 250 active DCA bots, portfolio management, unlimited smart orders, trading signals, futures trading bots, trailing up and down for bots, and take profit for bots.
It’s important to note that all Bitsgap pricing plans include the following:
- Access to 15+ supported crypto exchanges
- Demo account practice mode
- Fully automated trading bots
- Multi-exchange trading terminal
- Smart algorithmic orders
- Pre-made trading bot strategies
- Cloud trading 24/7
- More than 175 TradingView indicators
- Desktop and mobile versions
- Live chat and email support
In addition, all Bitsgap payment plans have a 7-day free trial attached to allow you to test out the platform before committing to a subscription package.
Also, once your Bitsgap subscription expires and you don’t top it up, you’ll lose access to all premium features including open trades, and be downgraded to Bitsgap free plan. The automated crypto trading platform doesn’t charge fees on trades.
Payment Methods
Bitsgap supports the following payment methods: Credit card and debit card (MasterCard and Visa), PayPal, Bitcoin, Ethereum, Litecoin, and more than 50 altcoins.
The trading bots platform only supports credit and debit cards and PayPal for monthly payments. If you intend to prepay for its services you would need to pay in cryptocurrencies including the Binance Coin, Litecoin, Ethereum, and Bitcoin.
Opening a Bitsgap Account
To open a Bitsgap account, go to https://bitsgap.com/.
Next, click the Sign-Up button or the blue Start 7-day Free Trial button at the center of the screen.
Enter a valid email address that you have access to along with your password.
Go through the Terms and Conditions and Privacy Policy. By signing up to Bitsgap you automatically agree to their terms and conditions.
If interested, tick the box to agree to receive educational and marketing emails from Bitsgap.
Next, click the Sign Up button.
Head to your email inbox and confirm the registration by hitting the link provided in the email they just sent to you.
Once your email address has been verified you’ll be able to access your account.
You’ve successfully created a Bitsgap account.
Setting Up Bitsgap Trading Bots with Exchanges
The process of setting up Bitsgap trading bots with your preferred supported crypto exchange varies depending on the exchange you intend to use.
Also, all Bitsgap trading operations are facilitated via a crypto exchange API Key that is unique to every trader. This API key does not give Bitsgap access to your personal data or withdrawal privileges.
To set up the Bitsgap crypto trading bot with Binance for example, Log into your account and then go to the My Exchanges page.
Click on the Add New Exchange button to proceed.
Choose Binance from the list of supported exchanges and select Fast Connect.
Go through the listed steps then click Connect.
You will be forwarded to the Binance login page, where you’ll need to sign in to your account on the platform.
After successful authorization, you’ll be automatically redirected to the My Exchanges page on Bitsgap. The API Key will be created and added to Bitsgap automatically.
If all the steps are followed correctly you will find Binance added to the list of connected exchanges with a Connected status as well as the trading balance available on your account.
After this, you can choose a trading bot and execute a trade and it will be run on Binance or your preferred connected exchange.
Trading Experience/Using Bitsgap Trading Bots
Bitsgap supports multiple exchanges and a wide range of supported crypto assets.
Setting up a Bitsgap crypto trading bot with a crypto exchange is seamless and can be done automatically (no need for manual API creation).
Bitsgap also features fully customizable strategies with the option to set parameters like Take Profit and Stop Loss as well as using technical indicators to set entry and exit prices.
In general, Bitsgap is easy to use, and executing trades is straightforward.
Bitsgap Trading Bot Review: Security
Bitsgap is a secure trading bot. It uses RSA 2048 encryption to protect users’ data.
The RSA 2048 encryption is one of the safest encryption available, this is even higher than the 1024-bit encryption used by most banks.
This makes the Bitsgap trading platform arguably twice as safe as most online banks. With Bitsgap RSA 2048 encryption, it will take a hacker an impossible amount of time to be able to go through every possible combination to crack your API keys.
When you add an API key to Bitsgap, the browser automatically initiates an encryption process on your side and securely delivers the API to the Bitsgap server.
Asides from encryption, all information is stored on a secure network protected by a firewall. No one except you and the crypto exchange has access to your password and keys.
Bitsgap does not transmit sensitive and account information outside the network. It does not share user information with any third party outside the system.
Bitsgap has no access to your funds in your exchange wallet and cannot make any changes. Your funds always remain in your exchange account.
To use Bitsgap trading bots on your cryptocurrency exchange account, you need to disable the withdrawal option and enable only permissions to trade and read balance.
If the API keys you are trying to add are allowed to withdraw funds, the Bitsgap system will automatically reject the key and ask you to change your permissions.
Asides from preventing Bitsgap from accessing your funds, this security measure also prevents internal and external threats associated with API key management.
For extra security, Bitsgap uses hardware security keys/FIDO2 as a 2FA method. Users are advised to use two-factor authentication for Bitsgap and the email addresses linked to their accounts.
Also, all login attempts to Bitsgap are secured. If the system notices an attempt to connect to your account from an unknown device location, you will be contacted via email to authorize access.
The Bitsgap trading platform also supports the use of complex passwords. You use mixed passwords with a combination of numbers, letters, and symbols.
To enhance security against password matching attempts, each unsuccessful effort to access your account will trigger a brief lockout of the IP address used.
To eliminate human mistakes and prevent users from the inside, Bitsgap employees are restricted to the area of their expertise. Every member of the Bitsgap team has a limited right to access the system based on their assignments.
Customer Service
Bitsgap trading platform offers customer support via phone and email at support@bitsgap.com. Customer support is available every day in English, German, and Russian.
The platform has a Help Center with detailed articles and guides on how to use different features of the trading bot.
Bitsgap also has communities on Telegram in English, Spanish, and Russian where users can get help for common problems.
Does Bitsgap Trading Bot Platform Offer Education?
No, Bitsgap does not offer a dedicated education center for crypto trading but it does send educational material about the platform to users’ email addresses.
There’s also a help center with guides on how to use the platform.
Final Thoughts
The Bitsgap trading platform is an affordable crypto trading bot service targeted at both beginners and experienced traders seeking profitable trading pairs. It is easy to navigate, set up, and execute trading bots.
That said, it doesn’t feature an education center and only offers 4 preset trading strategies.
Bitsgap users have also complained about experiencing losses and not being able to cover subscription costs with the profit generated by the bot.
While Bitsgap offers a plethora of features, it’s essential to explore other crypto trading bot for a well-rounded perspective. Dive into our Krill.io review and also check out our curated list of the Best Crypto Trading Bots to expand your horizons.
FAQ
Most frequent questions and answers
No, crypto trading bots are not illegal as there are no known laws that prevent traders from executing automated trades.
The minimum deposit for Bitsgap varies depending on the trading strategy used.
Yes, you need to subscribe to a monthly or annual plan to use Bitsgap.
Yes, Bitsgap is a legit automated cryptocurrency trading company founded in 2017 and headquartered in Estonia. It is rated 4.4 stars out of 5 on TrustPilot.
We always try to provide the most accurate information available, and make sure our team follow through.
If you want to know more about our Crypto Exchanges Review Methodology follow the link below
Skrumble.com provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade, or sell any investment instruments or products, including but not limited to cryptocurrencies, or use any specific exchange. Please do not use this website as investment advice, financial advice, or legal advice, and each individual’s needs may vary from that of the author. Investing in financial instruments, including cryptocurrencies, carries a high risk and is not suitable for all investors. It is possible to lose the entire initial investment, so do not invest what you cannot afford to lose. We strongly advise conducting your own research before making any investment decisions. This post includes affiliate links with our partners who may compensate us.
To view our privacy policy read here.
