An updated review on using the Bitsgap platform for automated crypto trading, portfolio management, trading bots, technical analysis tools, and more.
Bitsgap is a cryptocurrency trading platform that offers users a suite of tools to enhance their crypto trading experience. Founded in 2018, Bitsgap aims to provide an all-in-one solution for crypto traders with features like automated trading bots, portfolio management, charting & technical analysis, arbitrage opportunities, and more.
In this updated Bitsgap review for 2023, we will take an in-depth look at the platform’s main features to see if it delivers on its promises to crypto traders. We cover everything from creating a Bitsgap account to using its trading bots, as well as features like portfolio tracking, technical analysis charts, pricing, safety, and more.
What is Bitsgap?
Bitsgap is an all-in-one cryptocurrency trading platform that provides users with a robust set of tools to trade digital assets and manage their portfolios. Founded in 2018, Bitsgap integrates with over 30 cryptocurrency exchanges through API connections to offer various automated trading bots for executing strategies.
Beyond bots, Bitsgap delivers portfolio analytics and management features including tracking balances across linked exchanges, monitoring the performance of crypto investments, and generating tax reports.
Other core features beneficial for crypto traders include detailed charting, arbitrage scanning, and market analytics. By consolidating a wide array of trading capabilities on a single platform, Bitsgap aims to enhance efficiency, insight, automation, and ultimately, profitability for its users.
Signing Up for Bitsgap
Getting started on Bitsgap is simple and fast. You just need an email address to sign up for an account. Bitsgap supports many popular cryptocurrency exchanges like Binance, Coinbase Pro, Kraken, KuCoin, and over 30 others.
When you connect an exchange to your Bitsgap account, read-only API keys are used so Bitsgap can pull trading data. It is important to note it does not have to withdraw or deposit access. This keeps your funds safe and secure within your exchange account.
Here are the quick steps to connect an exchange:
Step 1:
Create a free Bitsgap account
Step 2:
Select exchange (for example Binance)
Step 3:
Generate API keys on that exchange
Step 4:
Copy and paste keys into Bitsgap
Step 5:
You’re connected and can start trading!
This exchange connection process is very fast, taking just a couple of minutes in most cases. Then you have access to all of Bitsgap’s trading features across the connected exchange.
Key Features & Tools
Let’s explore some of the main features and tools that the Bitsgap crypto trading platform offers to users across 4 main categories:
- Grid bots – Take advantage of volatility
- DCA bots – Automatically DCA into coins
- Composite bots – Combine grids & DCA
- Spot trading bots
- Futures trading bots
- TrailMe bots to dynamically trail stops
- Unified portfolio dashboard
- Trade performance stats
- Cross-exchange overview
- Auto-sync connected exchange data
- Portfolio analytics & reports
- Live price action charts
- 50+ technical analysis indicators
- Chart pattern recognition
- TradingView charts integrated
- Paper trading feature
- Crypto arbitrage opportunities
- Tax reporting integrations
- Free trading course & materials
- Trading terminal
- And more…
Next, let’s take a deeper look into some of Bitsgap’s most popular features among crypto traders.
Automated Crypto Trading Bots
One of Bitsgap’s headline features is its automated trading bots that allow you to automate crypto trading strategies. The platform offers several algorithmic bots to suit different risk appetites and market conditions.
When creating a bot, you can configure key settings like base trade amount, max safety orders, safety order multiplier, desired profit, and more. You can backtest bots on historical data to fine-tune settings. Bots run 24/7 once activated, removing emotion from trading.
Here are some of Bitsgap’s most popular automated trading bots:
Grid Bots
Grid bots are designed to take advantage of volatile, ranging markets by layering buy and sell orders above and below a set center price. As the market moves up and down, orders are executed at different levels. Profit comes from closing positive grids.
DCA Bots
DCA (dollar-cost averaging) bots automate the process of gradually accumulating an asset over time. You set a base order amount and optionally enable safety orders which trigger on price dips. This lowers buy average price.
Composite Bots
Composite bots combine DCA buying with grid profit-taking for an advanced automated trading strategy. Base DCA orders acquire coins, while the grid takes profit levels portions as price rises.
These are just a sampling of the many configurable bots Bitsgap offers. There are also specialized futures and spot trading bots. The “TrailMe” functionality dynamically adjusts bot take profit levels to trail market prices.
Portfolio Tracker & Management
Another hugely valuable component of Bitsgap is its unified cross-exchange portfolio management features. When you connect exchanges, Bitsgap auto-syncs your portfolio balances across all linked accounts on a single dashboard.
This gives you a bird’s eye view of your net asset allocation and profit/loss by coin across exchanges. You can dive deeper into performance analytics for each coin too, with metrics like average buy price, 24-hour price change %, and much more.
The portfolio tracker keeps all data automatically synced as you trade. You can also manually input transactions for coins held off the platform. Other handy features include multi-portfolio support, CSV exports, custom alerts + notifications, and a tax reporting tool.
For traders active on multiple exchanges, Bitsgap cuts out huge time-tracking coins across accounts. It brings clarity to your portfolio balance and performance in one place.
Charting & Technical Analysis
Serious crypto traders rely heavily on price charts, indicators, and analysis to inform trades. Bitsgap aims to provide a suite of market data and trading visualizations to help users make smarter trading decisions.
The charting package includes:
- Live price action charts across 6 timeframes (1 min up to 1 week candles)
- Drawing tools like lines, shapes, channels, Fib retracements
- 50+ leading technical indicators from RSI, MACD to Ichimoku Cloud
- Built-in chart pattern recognition alerts (flags, triangles, head & shoulders)
There is also a standalone advanced TradingView charts integration within Bitsgap. This connects all your exchange data into TradingView for an elevated charting and analysis experience powered by the platform’s technology.
An additional cool feature for practice is Bitsgap’s paper trading functionality that mimics live trading without risking real capital.
Between detailed charts, indicators, TradingView integration, and paper trading, Bitsgap offers a charts and analytics toolkit that can benefit every trading style.
Marketplace Tools & Features
Beyond the features reviewed above, the Bitsgap platform rounds out its offering with a Marketplace featuring useful tools and functionality for crypto traders.
A couple of highlights include:
Arbitrage Opportunities
An arbitrage scanner finds price discrepancies across exchanges that traders can exploit for profit. This allows you to take advantage of inefficiencies in fragmented crypto markets.
Tax Support
For simplifying crypto tax prep, Bitsgap offers integrations with leading tax platforms like Koinly, CoinTracking, and others.
The Marketplace section also includes a trading terminal, free trading education materials & courses, plus access to the Trader’s Room Discord community.
Bitsgap App Review: How’s The User Experience?
In addition to the web-based platform, Bitsgap offers iOS and Android mobile apps so traders can monitor markets and manage trades on the go.
The apps provide access to key features like the portfolio dashboard, trading bots, price charts, and notifications. This allows users to execute trades, adjust bot settings, check profits/losses across exchanges, set price alerts, and more without being tied to a desktop.
Reviews praise the apps for their clean and intuitive interface matching the web experience. Convenience features like fingerprint login, 2FA security, and night mode cater to mobile usability.
While mobile apps are more focused on monitoring versus in-depth analysis, they deliver traders the most important data and trade execution abilities in the palm of their hands. This on-the-go experience with Bitsgap gives crypto investors the flexibility to respond to market moves no matter where they are.
Bitsgap Pricing
Bitsgap keeps pricing simple with just 3 subscription tiers to choose from. Plans are billed monthly or users can save ~2 months with annual subscriptions.
Here is an overview of the pricing:
The free plan surprisingly offers quite robust access instead of just a limited trial. This lets new users kick the tires before upgrading to paid plans for more exchanges, bots, and features.
Considering everything you get, Bitsgap is a very competitively priced platform and great value for active crypto traders looking to level up.
Security & Safety
As a non-custodial platform, Bitsgap does not ever hold user funds or access deposits/withdrawals. Your coins remain safely in your exchange account. Bitsgap uses read-only API keys to pull trading data and execute trades on supported exchanges.
Many users understandably have security concerns granting any platform access to their exchange API keys. Bitsgap aims to ease these worries by:
The Bitsgap team has put policies in place to align with security best practices in the crypto industry. While handing over API keys always carries some risks, Bitsgap works to demonstrate the security of its platform and systems to users.
Bitsgap Pros & Cons
Let’s wrap up our full review of Bitsgap by outlining some clear pros and cons of relying on its crypto trading platform:
Pros
Cons
Considering everything outlined in this 2023 updated Bitsgap review – the platform does a commendable job delivering an impressive all-in-one toolkit for crypto traders to boost profits.
Final Verdict: Who is Bitsgap Best For?
So who is Bitsgap a good fit for? With its suite of automated trading bots, portfolio tracking, charts & indicators – Bitsgap brings the most benefit to active crypto traders across multiple exchanges.
If you are:
Then Bitsgap solves a ton of pain points. By effectively automating elements of crypto trading, analysis, and portfolio management – Bitsgap users can better capitalize on market opportunities.
The Bitsgap platform has continued maturing since its 2018 founding with an expanding product suite. While it may not be a fit for every crypto investor profile, a specific subset of cross-exchange traders are primed to extract a ton of value from Bitsgap’s tools.
This sums up our honest updated review on what to expect from the leading Bitsgap automated crypto trading platform in 2024 and beyond.
