Bitsgap Review

Bitsgap is a popular web platform that helps you set up automated bots on top cryptocurrency exchanges like Binance, Bitfinex, Kraken, and many more.

Bitsgap offers grid and DCA bots and a trading terminal from which you can set up intelligent trades across exchanges. Bitsgap is beginner-friendly, and plenty of online resources can help you set up trading bots on their platform.

The Bitsgap platform offers cloud-based trading bots. The availability of both Grid bots and DCA bots allows users to automate trading strategies in both sideways and trending markets with just a few clicks.

Let's review in more detail the top features:

Grid Bots

Grid bots are a popular feature of Bitsgap and one of the main reasons why the platform is so popular nowadays. Bitsgap has different types of grid trading bots options, depending on whether or not you are using the newest interface:

Legacy options

• Classic grid bot. The Classic bot systematically buys and sells the same quantity of the base currency per transaction. This means that as the price falls, the bot will trade a lower amount of quote currency, and as the price increases, it trades a larger amount of quote currency. This is a great choice for bull markets, as more profit will be generated as the price goes up.
• Sbot. The Sbot buys and sells the same quantity of quote currency per grid level. Under this distribution model, the bot will buy more base per transaction when the price falls. The Sbot is better suited for a sideways market and can be used to accumulate base currency.

New interface options

As of the most recent update, Bitsgap doesn't offer predefined grid bots. Instead, you have full customization power over your grid bots.

Basic settings

You can choose if you want to profit in quote or base currency and fix the grid orders in quote or base currency. You can also adjust the grid step to your liking.

Trailing up and trailing down

The trailing up and trailing down features move the grid to follow the market up or down, respectively. They create additional grids as necessary, up to a certain price that you specify.

These features help you have a more hands-off approach but are not without risks. In my experience, following the market down can be a costly mistake. In fact, Bitsgap disabled this feature for a time due to the large number of users who had lost money. So if you decide to activate it, be mindful of the risk.

Pump protection

Pump protection prevents the bot from executing orders during sudden price increases. 

Stop loss and take profit

There are also Stop Loss and Take Profit features that add an extra layer of protection. It helps you lock in profits when the price reaches a certain level or cut your losses if it starts going against you.

Bitsgap offers trailing stop loss for grid bots, a feature you don't often see elsewhere. When trailing, the stop loss will follow the market upwards.

DCA bots

Bitsgap's DCA bots are a rather new addition to their platform, so they are not as feature-packed as other solutions.

You can choose between starting a deal immediately or indicator signals. For indicator signals, you only have 3 to choose from: RSI, Stochastic, and MACD. It also lacks the ability to start deals based on webhooks. So if you were hoping for any remotely advanced DCA bot, Bitsgap is not your solution.

Buy the dip bots

This special grid bot is optimized to increase base currency accumulation when the price is trending lower. It starts by selling the base currency, then places a grid with a trailing down feature that profits in base currency. 

This bot can be quite valuable for HODLers during bear markets, as they help preserve their portfolio's value.

Intelligent trading terminal

Another of the tools that Bitsgap offers is an intelligent trading terminal to operate in the best cryptocurrency exchanges simultaneously and with additional options than those commonly provided by exchanges.

The types of orders available are:

• Limit: It is possible to buy or sell a cryptocurrency at a price established by the user.
• TWAP (Time-weighted average price): This allows you to optimize the average position of an asset over a set period of time (Dollar Cost Average).
• Scaled: Allows you to place up to 100 Limit orders (either buy or sell) within a grid with a couple of clicks.
• Market: An order to buy or sell immediately at the market price
• Stop Limit: An order establishes a Limit position of buying or selling when the price has reached a good profit.
• Stop: It is an order that establishes a Limit position of buying or selling when the price has gone against expectations to protect capital.

Portfolio Management

Bitsgap includes another helpful tool that allows you to manage your cryptocurrency portfolio in real time and across all your exchanges.

Bitsgap comes with a user-friendly interface. The interface also has a nifty night mode, ensuring that you won't be setting up teary-eyed trading bots in the middle of the night.

I like that Bitsgap continuously backtests trading pairs with different configurations and shows you the best backtesting results as you set up your bot. This can save you the headache of finding the perfect coin and configuration for yourself.

I find creating a bot straightforward and well-explained, thanks to the tooltips accompanying each configuration option. However, if you get stuck, the knowledge base is an excellent resource with in-depth explanations and examples to help you set up your bots.

Bitsgap pricing is as follows:

Honestly, I find Bitsgap on the expensive side compared to similar competitors.

You will need to subscribe to the PRO plan if you want to use the features that set Bitsgap apart, such as the trailing up and take profit for grid bots.

It's also disappointing that you are limited in the number of bots you can create, even on the highest pricing tier.

Bitsgap is a web platform; therefore, it is available from any device. However, for a company that has been around since 2018, not having mobile apps is a bit of a letdown.

Bitsgap mobile

The good news is that Bitsgap offers a simplified web version specifically designed for mobile devices. You have the same options as you have with the desktop version with an interface that's easier to navigate on mobile devices.

Bitsgap has a well-organized Q&A database on its platform, which is helpful for common issues users may encounter. But when users face problems that do not have a specific answer in its help center, they can directly contact a person from the platform's technical support.

All of their packages offer support via chat and email. Bitsgap also provides priority support for users using their basic or pro plan. People can issue support tickets which will be answered accordingly.

Bitsgap support is one of the best I've found. Whenever I had a problem, I was able to fix my issue within a few hours.

Bitsgap comes with the standard security features for any trading bot service. 

The platform does not have direct access to the funds, but they connect through APIs to the exchanges. Bitsgap allows you to set up IP whitelisting, a good security feature that can prevent you from being a victim of contra-trading attacks.

It also offers the option of configuring the two-factor authenticator (2FA).

These measures ensure that malicious third parties cannot access your funds.

Bittsgap has been around since 2018, giving the platform time to fix bugs and become more reliable. Therefore, Bitsgap is quite reliable, and this doesn't seem to be a concern for its users.

I have used Bitsgap for many months and found no major issues. I would like to mention that when accessing the platform from a mobile with a poor network connection, the platform can be very slow to respond. I suspect this may be due to the high amount of websocket connections the platform establishes with the exchange. This is not a problem if you are on a fast network, but it can be quite a problem if you are in a slow one.

The platform receives regular updates on the tools available to its users. Bitsgap also pays attention to user feedback, as observed by the much-requested release of the DCA bots.

All in all, the Bitsgap platform receives constant updates so users can rest assured they are using cutting-edge trading tools.

Bitsgap can be a good fit for you if you:

• Are an active trader
• Your trading strategies are simple
• You need backtesting and paper trading
• You would like to use a good grid bot solution

Bitsgap has many valuable tools that automate and simplify trading. Having grid and DCA bots makes it very versatile since, in this way, they can be used for different kinds of market conditions.

The grid bots are feature-packed; however, the DCA bots have only basic features.

Bitsgap's pricing is a bit expensive, but it can be justifiable if you are an avid grid bot trader seeking advanced functionality.