Bitsgap is a cryptocurrency trading service that offers a wide range of services to help traders make the most of their investments. You can find portfolio management, signals, demo mode, and trading bots all in one place. This makes it much easier to manage your cryptocurrency portfolio and trade effectively.
Although Bitsgap offers several services, they are mostly known for their crypto trading bots which execute trades on your behalf making profit autonomously 24/7 in different market conditions - even whilst sleeping.
We know that trading cryptocurrency is a headache - it creates high-stress levels which reduces the quality of life, but on the other hand, we know that crypto trading can be very profitable. So there is always this battle between your well-being and making money.
Personally, I have traded cryptocurrency for a few years, throughout these years I have learned a myriad of chart patterns and strategies, but I arrived to a point were I decided that trading cryptocurrency is not something I want to pursue.
Trading made me anxious and I often missed out on good trades because I was overthinking things. Moreover, whilst I used to have any open trades I would be stuck all day looking at the mobile or laptop to see whether I am making profits or not.
My biggest two enemies were greed and emotions. These two together play a critical role when trading and are very hard to control. Although I wanted to quit, I still wanted to make use of the knowledge learned through the years and that was when I discovered Bitsgap.
Bitsgap has created a solution that will take care of the trading part for you so that you can live your life stress-free whilst still making a profit from cryptocurrency.
Bitsgap solves this problem by providing the right balance as trades will be taken care of by the trading bots offered. You don't need to have previous knowledge in trading to use their simplest bots, but I still recommend that you know the basics of trading before you start testing different bots on the demo account.
Different Crypto Bots Offered by Bitsgap
One of the easiest and less risky bots offered by Bitsgap is the Sbot which is a Gridbot used for sideways channel market. For those not familiar with trading terms, a sideways market is when the price of an asset moves within a relatively tight range.
The Sbot buys assets at the bottom of the channel and sells them at the top automatically, making a profit from this price difference.
Another example is the Classic Bot which also applies the grid strategy, but is most suited for an uptrend market. The description from the official knowledge base section of Bitsgap explains it as follows:
The best time to use the Classic bot strategy would be when you expect the market to have a strong uptrend. On the price rally, the Classic bot has statistically proven to be more successful than the other strategies due to its investment distribution logic, which achieves a better market exposure as the price goes higher (The Classic bot buys a fixed number of coins and hence increases the total amount invested on the rally).
As you are dealing with cryptocurrency, it is important to understand the risk involved when using trading bots. There is a possibility that the crypto you choose to trade drops in value, so if the price of the crypto drops more than the generated return from the crypto bot you will still be in a net loss balance.
The riskiest bot which can generate the highest return is the Combo bot. This bot enables you to trade with leverage which means you don't have to own the underlying asset. You are also able to short or long any digital asset meaning that you can profit regardless of the market conditions.
Please bear in mind that using leverage means that you will be exposed to a much higher risk of losing all your capital invested. I do not personally suggest leverage as cryptocurrency markets are very volatile.
You can setup all crypto bot on Bitsgap in a few simple steps as follows:
- Choose the bot according to your risk appetite and market conditions.
- Choose the Crypto pair that you want to trade.
- Set the trading range - which is the range the bots will execute orders.
- Decide on the grid levels - this will impact how often trades will be executed and will depend on the capital you have on the account.
- Set take profit, stop loss and trailing up and you are ready to start trading.
- You are ready to go!
Another cool feature is the back testing feature which tells you how much profit you would make with the set strategy going back in time.
For more information on the other bots offered, I suggest that you check this official page from Bitsgap
Another great thing about Bitsgap is that it supports a wide range of exchanges including Binance, Bitfinex, Kucoin and more. This allows you to use the service regardless of which exchange you trade on.
Lastly, Bitsgap has a very user-friendly interface which makes it easy to use for both beginners and experienced traders.
If you are looking for a comprehensive trading service that can help you take your trading to the next level, then I would highly recommend giving Bitsgap
It allows you to combine the trading bots with other services seamlessly. This greatly enhances the platform’s value proposition and makes it an excellent choice, for both amateur and professional traders who use all these services daily.