Bitsgap, is it legitimate or a scam?
After thorough research, it’s safe to say it’s a credible and trustworthy cryptocurrency exchange trusted by over 500k traders worldwide.
Here’s an in-depth review, exploring its background, features, pricing, and success stories of users who have achieved success with it.
A Brief About Bitsgap
As I’ve just stated, Bitsgap is a cryptocurrency trading platform.
This comprehensive platform integrates with multiple crypto exchanges, including Binance and Coinbase Advanced.
Users have access to endless digital currency pairs, depending on the exchanges to which they connect their trading accounts.
The platform, bitsgap.com, belongs to an individual called Max Kalmykov who operates it from Tallinn, Estonia.
Notably, Bitsgap offers monthly subscription-based plans:
- Basic Plan($19/month).
- Advanced Plan($44/month).
- Pro Plan costing($110/month).
Each plan offers different levels of access to the product’s features, including trading bots, which brings us to the next part.
Bitsgap Automated Trading Bots
Here are the available trading bots:
1. GRID Trading Bot—-Ideal for spot trading, the GRID bot helps you make money from small price fluctuations in sideways markets. This innovative auto trading bot places buy and sell orders at predetermined intervals within a given price range.
Now, I’ll go into detail about this particular bot because I have actually tried it myself and have first-hand experience with it.
To use the GRID bot in your spot trading strategy, you’ll need to search and select your preferred digital currency pair through Bitsgap.
It should be noted that Bitsgap is a platform that integrates with multiple cryptocurrency exchanges including Binance and Coinbase Advanced, another proof of its credibility.
After that, define the price range, and specify how much you want to use for trading. By the way, the GRID bot features TradingView integration. As such, you can see your GRID bot configuration in your TradingView chart, and choose the best grid settings.
2. DCA (Dollar-Cost Averaging) Bot—- Makes regular, fixed-amount investments, reducing the impact of volatility and averaging the entry price over time.
3. Buy The Dip Bot—It purchases additional coins when prices go down. Thus traders can accumulate assets at lower prices and sell them later at higher prices.
4. COMBO Bot—-Just as the name remotely suggests, this automated crypto trading bot combines DCA and GRID strategies for futures trading. This maximizes potential returns in both rising and falling markets through leveraged positions.
5. DCA Futures Trading Bot—-This bot executes the DCA strategy to futures markets while managing risk through averaged entries. As a result, it yields profits from both short and long positions
6. Loop Bot— It automates the placement of buy and sell orders at strategic intervals, continuously reinvesting profits in a self-sustaining cycle. Loop bot is said to be ideal for long-term traders.
These bots don’t promise guaranteed profits. Instead, they provide automated strategies that can result in profits especially if implemented properly under the appropriate market conditions.
Other Futures
1. AI Assistant —- An important tool that simplifies the process of setting up your automated trading bot. Additionally, it provides personalized strategy recommendations after analyzing several technical aspects including assets and balances.
User Experience
Apart from my own experience, other users have also confirmed that this platform is not a scam. For example, a Reddit user named ‘busyuqboy’ shared that they had success with Bitsgap, appreciating its easy interface and seamless connection with their US-based exchanges. They mentioned they would continue using the trading bot until their yearly membership expires. Here’s a screenshot of that:
At the same time, the platform is rated 4.1 stars on Trustpilot at the time of this writing. Seventy-five percent of users have awarded it 5 stars with many praising its top-notch customer support.
For example, a long-term user of Bitsgap by the name “Nel Ryan” shared positive feedback. Ryan stated they’ve been using Bitgap’s bots for several years and find it very simple to use and quick to set up.
According to him, even by simply copying the bot setups provided in Bitsgap’s instructions, one can start making money, making the product especially ideal for beginners.
They also highlighted the platform’s responsive and helpful customer support via the chat box.
Having tried other platforms, Ryan noted that Bitsgap remains their favorite and commended the team for their work. Check out the screenshot of his feedback below:
A 4.1-star rating out of 5 from hundreds of reviews generally implies that the platform is trusted and loved by most users. It also means that most users had a positive experience with it.
Another user by the name “Thoran” reported that the system works as advertised, with all features working as claimed.
While they initially felt the pricing was somewhat high for access to only five grid bots, they noted that the limit has recently been increased to ten, improving overall value.
The user also praised Bitsgap’s customer service for being prompt and helpful.
However, they suggested that providing a documented API would enhance the experience further. Here’s a screenshot showing his feedback:
By the way, Anton Kharitonov, a financial analyst and expert at Traders Union also recommends this crypto trading platform based on reviews posted by clients on TU.
Final Thoughts
Based on my personal experience and user feedback, I would say Bitsgap is a worthwhile crypto trading platform with useful automated trading bots. The platform particularly suits beginner traders even though experienced traders will also benefit from it to some extent.
If you are just starting, I’d recommend you play with the demo account for a few days or weeks to test strategies and tools. For experienced traders, this product is perhaps not going to add much value, at least at the moment.
In my opinion, the biggest advantage of Bitsgap is simplicity.
I need to state that while these automated trading bots work, it’s imperative that you use these algorithms with the right strategies. For example, you need to do some kind of fundamental or technical analysis to predict the movement of the prices first before hopping to the bot.
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Bitsgap Review Disclaimer: This information is provided for transparency and awareness. Based on my firsthand experience and general feedback from other users, Bitsgap does not appear to be a scam. This review reflects personal usage insights and publicly available information intended to help others make informed decisions. However, users are strongly advised to do their own due diligence before jumping into it, as results may vary depending on individual strategies and market conditions.