New UI & Ranking System: 70%
Of course, we will cover way more in this in-depth review of Bitsgap.
If you are a regular reader of CoinSutra, you might have seen my earlier review of Cryptohopper, review of Pionex, and grid-bot trading tools. I have often mentioned Bitsgap because it is one of those tools that is growing fast that we can’t ignore anymore.
In fact, I like to get associated with a crypto bot tool at an early stage as following their development cycle feels like I’m witnessing the beginning of something big.
Bitsgap is a similar tool for me. I bumped into this tool when I was trying to find an ideal grid bot tool for our CoinSutra VIP users. Even though there were many similar tools like 3Commas, Pionex, and Bituniverse, Bitsgap was acing these tools by consistently adding new features.
For now, let’s start from the top.
Bitsgap calls itself as:
“All-in-one trading automation platform for Bitcoin and other Cryptocurrencies. Best crypto trading bots, Smart algorithmic orders, Portfolio & Demo trading – everything you need to easily manage your assets within one interface.”
It is not a crypto exchange but connects with all popular crypto exchanges. It also offers advanced automation tools that help you automate trading. It also offers a trading terminal, which makes your life easier when trading on multiple exchanges.
If my words are not doing justice to explaining Bitsgap, watch this one-minute video to learn everything about Bitsgap
Before I jump into the detailed review of Bitsgap, let us tackle some of the most frequently asked questions.
Special offer: a week of Bitsgap for free
Bitsgap is a cryptocurrency trading bot that was released in 2018. It offers a wide range of services including a demo mode, trading robots, signals, portfolio management, and many other features.
According to Bitsgap’s LinkedIn page, they are registered in Estonia.
Here is an excerpt from their LinkedIn bio:
“We are an Estonia-based privately held company. We are a team of industry experts with extensive experience in trading, asset management, and blockchain technology, from all around the world. We are confident about delivering a highly efficient service to our users, and we will continuously update our system based on your experience and requirements of the ever-expanding pool of crypto traders around the world.”
Max Kalmykov is the CEO of Bitsgap, who has previously founded an advertising network called Cointraffic. Nowadays, Cointraffic is a leading advertising network with offices in several countries and a team of great professionals.
Bitsgap connects with a crypto exchange via an API key. Bitsgap is using 2048-bit encryption wherein your API keys are delivered to their encrypted servers. This is the same security online banking system currently use.
The only thing you need to ensure when setting up Bitsgap is that you must not give withdrawal permission to your API key. Bitsgap is secure and you can trust them to connect with your crypto exchanges.
Bitsgap is a paid tool. One of the ways they make money is by offering subscriptions for their bot services. In the further section of this Bitsgap review, I have discussed their pricing model.
Bitsgap has a free plan that is automatically activated after the 7-days free trial of basic plan ends. You can upgrade to premium plans anytime to enjoy their premium benefits.
Bitsgap offers many advanced features which are not available on the Binance grid bot. The only downside of Bitsgap is that it is paid whereas the Binance grid bot is completely free.
Pionex is better than Bitsgap as it is free and offers all the features of Bitsgap. While Pionex is an exchange where you need to store funds, Bitsgap is an automated tool that connects with your crypto exchanges using an API, giving you or your exchange the custody of your funds.
Another deal-maker difference is that Pionex charges 0.05% per transaction, whereas on Bitsgap, you would be paying the transaction fees of your crypto exchange.
|Back-testing feature||Monthly subscription fees|
|Signals for running bots||No mobile app|
|Option to edit the range of your grid bots|
At the time of writing this review, Bitsgap offers 3 unique plans. The cheapest plan is called the Basic plan which costs $29/month wherein you can run 2 trading bots and place unlimited smart orders. Apart from standard payment methods, you can also buy a Bitsgap subscription using cryptocurrencies.
My advice for you is to start with their basic plan and gradually upgrade. In fact, they offer a 7-day free trial.
If you are planning to start using Bitsgap for running grid bots and take advantage of features such as Trailing Up and Down for bots or Take Profit, you should consider their top plans. I have also shared free alternatives to Bitsgap below.
Take a free 7 days trial of Bitsgap
Bitsgap does not offer a discount on their direct website but you can get a $10 credit during signup using the below given special link.
This link will give you a $10 credit, which you can redeem while upgrading plans. There are no conditions for this Bitsgap discount apart from the fact that you will get it when you upgrade your free plan or trial plan to a paid plan.
Get Bitsgap discount
I started testing Bitsgap in 2020 and enjoyed how far they have come in past few years. I actually paid for their premium account to try their grid bot trading feature. During 2020, they also added features that enable you to make money from the grid bot even when the bot was going out of your defined range. This was a feature I never heard of before that made me like Bitsgap more.
With time, they tweaked their pricing to make it affordable for everyone and still continue doing so.
I did not really test their trading terminal as I use 3Commas for the same. However, from the features perspective, it offers everything that you could ask for. The interface is simple and easy to navigate.
Their automated trading bot feature is worth the money. Here’s a cherry on top – you can try it before paying for the plan. Overall, Bitsgap seems like a tool worth having in your arsenal. So far, I could not find anything that is bad about Bitsgap.
It is always good to have competition as it leads to better innovation. Bitsgap is no different since the crypto space is full of innovators and innovative tools.
Here are some of the closest alternatives to Bitsgap:
Pionex is a crypto bot exchange and one of the biggest brokers of Binance. You can learn about Pionex here. Pionex is free to use. Since it is a broker of Binance and Huobi, it has low transaction fees, making your bots more profitable. Also, it has features like “Take profit”, which helps you free funds from running bots.
Create an instant account on Pionex
3Commas is another brand that is popular among automated traders, especially for people who look to pay for trading terminal apps and automated strategies. However, I find the grid trading bot feature of Bitsgap to be far better than 3Commas.
Take a free trial of 3Commas
I will add more Bitsgap alternatives as I discover. But for now, Pionex and 3Commas are the best Bitsgap alternatives.
Bitsgap In Short
We have come to an end of our review of Bitsgap. One thing is clear Bitsgap is here to stay. A strong team, clear revenue model, great features, and perfect product-market fit. They emphasize a lot on security, which helps in establishing trust among its users like you and me.
If you have been wondering should you be using Bitsgap or not, my answer is Yes. You should try it at least once. The 7-days free trial of the basic plan can help you decide if this is for you or not.
Get a week of premium version for free.
Now it is your turn to let us know about your experience and feedback on using Bitsgap – what you did and did not like about this tool.
If you find this Bitsgap review useful, share it with your crypto friends and in the crypto network. Also, let me know if you have any questions about Bitsgap.News appeared first on: Coinsutra.com