What is Bitsgap?
Bitsgap is an impressively robust all-in-one crypto platform that helps crypto traders automate their trading and assist with advanced trading requirements. The platform can be used to assist traders with managing their portfolios, accessing trade signals, utilising Smart Orders, and more. Bitsgap’s most popular products are its high-performing crypto bots that can easily integrate with crypto exchanges.
Integrating with over 15 exchanges including Coinbase, Binance, Kraken, Bitfinex and more, Bitsgap has become a popular hub for traders interested in utilizing trading bots, especially those who use KuCoin as Bitsgap offers KuCoin-specific trading bots.
The Bitsgap headquarters is located in Estonia. Established in 2017, the platform has attracted over 500k users and has helped traders execute over $300b in trading volume.
What are KuCoin Crypto Trading Bots?
The Trading bots on KuCoin differ little from the trading bots found on many other exchanges and crypto bot platforms. The main difference is that the ones offered on KuCoin are natively supported and easily deployable on KuCoin, with no external APIs needed to integrate with the exchange.
KuCoin makes trading bots incredibly easy with plug-and-play solutions for traders to create their own bots, using predefined criteria and rules without needing to learn how to code. There have been a whopping 10 million bots created by users on KuCoin, and traders who don’t want to create their own can simply copy other bots or select one of KuCoin’s pre-built bots.
The current bots available on KuCoin utilize the following strategies:
- Spot Grid
- Dollar-Cost Averaging
- Futures Grid
- Smart Rebalance
- Infinity Grid
KuCoin users have access to the millions of bots on the platform for no additional cost on top of standard trading fees. KuCoin has become one of the most popular platforms for bot trading. You can learn more about the exchange in our KuCoin Review.
Though trading bots can be useful for experienced traders who understand the proper market conditions in which to run an automated trading strategy, it is important to point out that considerably more people lose money using trading bots than make money.
The main reason for this is that trading bots are often marketed as basically money printing machines, with exaggerated results and false claims of profit, paired with doctored photos and “live results” of “profits” coming from cherry-picked demo accounts.
Trading bots are often advertised to new traders who do not know how to trade, leading them to falsely believe that trading bots are as easy to use as simply turning it on, walking away, and earning profit, which is certainly not the case. If it was, none of us would be working jobs anymore, that’s for sure.
What Bots are Available on Bitsgap?
Bitsgap offers three different types of trading bots.
Grid Bot
Grid bots help traders generate profit from small price fluctuations as the market moves sideways. Sideways markets are also known as a market’s consolidation phase, or you may hear the terms “ranging” or “flat.” These are all terms that are used to describe when price is trending neither upward nor downward, but staying flat or “sideways.”
The grid bot will open and close positions automatically as price fluctuates between price points preset by the trader.
The Grid bot on Bitsgap can follow one of three strategies:
Flat– Suitable for sideways price action. The bot will place a fixed order grid and will keep processing trades as long as price continues to fluctuate within the defined range.
Buy the dip- This bot will sell the base currency now and place an order grid that trails down, following the price while profiting in the base currency.
Custom grid– This allows traders to set their own grid trading strategy, utilizing settings such as profit currency, order grid variables, trailing modes, SL/TP, and more.
How does the Grid Bot Work?
The Grid bot places buy and sell orders between multiple order levels, forming a grid. The bot will use two currencies of the pair, e.g. BTC/USDT for placing limit orders for buying and selling. If the trader chooses to make a profit in USDT, the bot will be buying and selling BTC for profit in USDT and vice versa — If the trader chooses BTC, then the bot will be selling it for USDT to buy back cheaper, with profit in BTC.
The bot will keep processing trades and closing out in profits as long as the price remains within that price range, or closing out in a loss should price continually trend against open positions.
DCA Bot
Dollar-Cost Averaging (DCA) is a popular strategy used by both investors and traders. This allows investors to buy into assets at multiple levels, buying at lower prices to “smooth out” the overall entry price over time and therefore lowering the average purchasing price. Traders can use a similar strategy to go long or short, getting a better average entry price on their trade, lowering the range that price needs to travel before it can be closed out in profit.
The DCA bot can be used to automatically buy and sell cryptocurrencies at optimal times using technical analysis and smart automation on the Bitsgap platform.
The following DCA bots are available on Bitsgap:
MACD+RSI- This DCA bot uses two of the most popular trading indicators to help with trend trading. The bot will attempt to place a trade in the direction of a trending market and follow price until it receives a closing signal from the indicators to close the trade.
Stochastic+Channel- This DCA bot uses a combination of support/resistance lines and the Stochastic oscillator for sideways markets. The bot will trade by the signal while price remains inside of the price channel, using a trailing stop once the price breaks outside of the channel.
Pure DCA- This DCA bot will buy by market, place limit orders to buy cheaper, and take profit, with all settings being preset by the trader.
Custom DCA- Traders can create their own custom DCA strategy using all of the available signal sources, DCA settings, risk management tools, and other features available on Bitsgap.
How Does the DCA Bot Work?
The DCA bot trades on technical signals on rising, falling, or sideways markets, with the trader choosing whether or not the bot will use DCA orders.
The bot reads the indicators such as the RSI and MACD to choose when to place and close trades. Once it receives a signal, it can place a market order and set a number of DCA orders, then exit the trade when conditions are met, or complete tasks like setting stop losses and trailing stops if markets turn around.
Bitsgap DCA bots can utilize additional risk management tools such as trailing stops, drawdown limits, and risk reduction methods to help manage open positions and risk.
DCA strategies can result in one of three potential outcomes:
- If the market moves in a favourable direction and never hits any DCA orders, the trader will make a small profit on their initial market order trade and miss profits from the rest.
- If the market hits any or all of a trader’s DCA orders then the Take Profit level, this would result in a considerably profitable gain.
- If the market moves against a trader’s orders and hits a Stop Loss, this would result in significant losses.
Futures Bot
Bitsgap offers trading bots that are suitable for futures trading. Futures traders can trade in either direction with profits paid in USDT.
There are two Futures bots traders can use:
Long- Traders will make a profit if price moves upwards. The bot will open a buy position for half of the invested funds and place DCA orders for the remainder of the trend. Positions will be closed incrementally using grid orders.
Short- Traders will make a profit if price moves downwards. The bot will open a sell position for half of the invested funds and place DCA orders for the remainder of the downtrend. It will close positions incrementally using grid orders.
How does the Futures bot work?
The Futures bot can trade during sideways (flat) or trending (up or down) markets. It trades between multiple DCA orders and takes profit at levels that are arranged in a grid.
The bots can be set to trade with leverage from 1x to 10x, allowing users to trade funds 10x larger than their investment.
What Makes the KuCoin Trading Bot Unique?
Bitsgap offers three different types of trading bots for KuCoin, which can be deployed seamlessly on the KuCoin exchange.
Along with the standard DCA and GRID bots, Bitsgap also has a Scalper trading bot for KuCoin, providing traders with the ability to trade and make profits (and losses!) from small price fluctuations.
With the straightforward KuCoin integration, KuCoin traders can combine various settings and strategies available from Bitsgap to enhance their trading experience.
Bitsgap Account Features:
Aside from trading bots, Bitsgap also features:
Smart Orders
Many crypto exchanges do not offer the full functionality needed for advanced trading, with features like trailing stop losses and order splitting seldom supported.
Platforms like Bitsgap can help with that. Bitsgap allows manual traders to have more control over their risk exposure and use more sophisticated trading strategies.
What is even more convenient is that traders who use more than one exchange can access all their trading activity across multiple exchanges all from the Bitsgap dashboard. Here are some of the advanced functions of Smart Orders:
- Stop losses
- Take profits
- Trailing stop losses
- Trailing take profits
- OCO
- Supports limit, market, stop, stop limit, TWAP and Scaled orders.
Smart Orders is an incredibly valuable tool for manual traders as it can help support trading and risk management strategies that have been shown to help increase profitability and lower risk.
Trading Terminal
Bitsgap leverages the powerful TradingView charting application, which has become the gold standard for professional traders. Thanks to TradingView, Bitsgap is suitable for all levels and styles of trading, able to accommodate even the most hardcore technical analysis traders.
If you want to learn more about technical analysis, feel free to check out our Guide to Technical Analysis article.
Bitsgap can be used with over 15 different exchanges, including Binance, KuCoin, OKX, Bybit, Kraken, Gate.io, Coinbase, and more.
Exchanges and Supported Coins
Bitgap currency integrates with Binance, KuCoin, OKX, Bybit, Kraken, Whitebit, Bitfinex, Huobi, Coinbase, Bittrex, HitBTC, Poloniex, Gemini, Gate.io and some lesser-known exchanges that can be found on the site.
Bitsgap’s product suite for spot trading can be used on any coins and tokens that are available on the exchange that it is connected to.
At the time of writing, the Futures bot is only available on Binance.
Bitsgap pricing
Bitsgap prices will vary depending on monthly billing vs annual billing, with users who pay yearly saving 20%.
Bitsgap has 3 pricing tiers:
Basic– $23 per month. This includes 2 active Grid bots, 10 active DCA bots, and unlimited Smart Orders.
Advanced-69 per month. This includes 5 active Grid bots, 50 active DCA bots, unlimited Smart Orders, Futures bots, and trailing ups and downs for bots.
Pro– 119 per month. This includes 25 active Grid bots, 250 active DCA bots, unlimited Smart Orders, Futures bots, trailing ups and downs for bots, and take profits for bots.
Users can also access a 7-day free trial to test the platform before buying.
Bitsgap Top Benefits Reviewed:
Bitsgap is a powerful platform and a very useful tool for traders and fans of crypto trading bots. While the bots offered are quite common and widely available on most platforms, the KuCoin Scalping bot is a unique offering and a great choice for any KuCoin users who want to take advantage of automated scalping.
The Smart Order functionality is also a must for any serious trader using advanced trading strategies. I don’t know why this is the case, but even the most advanced crypto trading exchanges do not offer advanced order types and risk management tools to help traders with their trades, so finding a platform like Bitsgap or 3Commas that offers “Smart Trading” is essential for many traders.
Final Words
Well, there you have it, folks, our in-depth review of Bitsgap. Though I have some qualms about the lack of transparency and integrity surrounding the vocabulary and statements on the site and the higher-than-average prices, Bitsgap is a good platform for anyone looking to get into auto trading, or who needs access to advanced order and risk management functionality in their manual trading.
Before signing up for Bitsgap, I would recommend checking out the free bots available on KuCoin and Gate.io to see if the extra pay is necessary for your needs as a trader. For manual traders needing the advanced order functionality not supported by standard crypto exchanges, I would suggest checking out our 3Commas and Shrimpy review before making the choice to find which platform is best for you.
