Bot (trading bot) is a software program that works according to an algorithm. This program buys or sells assets based on the market situation. First trading assistants appeared in 2012, and since then they are becoming more and more perfect.
At Forex and binary options, more than 90% of short-term trades are made either by or with the help of special programs.
So, if you want to trade digital currencies from the comfort of your own home, you need to make sure you’re using a platform that has plenty of tools, knowledge and, of course, competitive fees.
With that in mind, experienced traders often use multiple exchanges to access specific markets and pairs or to take advantage of arbitrage opportunities. However, moving from exchange to exchange can be cumbersome and time-consuming. Let’s look in bitsgap vs Binance review together.
Supported Exchanges: Bitsgap vs Binance
Bitsgap is currently integrated with 30 exchanges including Binance, Kraken, Bitfinex, and others. Traders have access to 10,000+ cryptocurrency trading pairs and several technical indicators available to formulate their strategies. The platform offers an optimized and intuitive interface for beginners and experienced traders alike.
One of the key features of Binance that attracts millions of traders is its wide selection of cryptocurrencies. Binance offers support for about 300 assets and thousands of trading pairs. For example, bitcoin can be exchanged not only for the US dollar but also, for example, for the ruble as well as many other traditional and digital currencies.
Binance monitors the latest market trends and adds the most interesting coins for traders. It does not always happen immediately, but as a rule, the addition on Binance leads to an immediate increase in the price of the relevant asset.
In addition to well-known cryptocurrencies such as bitcoin or Ethereum, popular assets from the decentralized finance (Defi) space can be found on Binance.
Cryptocurrencies Comparison
With that in mind, Bitsgap allows you to connect all your exchanges in one place. This gives you a lot of advantages – for example, you can easily implement arbitrage strategies and install advanced bots for simultaneous trading on multiple platforms.
Thus, Bitsgap has evolved to meet the many needs and expectations of cryptocurrency traders.
In this Bitsgap review, we explore everything you need to know about the cross-exchange services offered by the provider.
As the largest exchange in terms of trading volume, Binance can execute transactions of large size and in large quantities without seemingly affecting performance. Binance, like any other exchange experiencing traffic surges, does not manage to avoid disruptions from time to time, but problems are rare and quickly resolved.
Compared to some industry veterans, Binance is a young exchange. Nevertheless, even four years is an impressive period for a cryptocurrency exchange, especially if most of that time the company holds the status of the largest among its peers.
Trading Tools
The Bitsgap trading bot runs on the GRID algorithm, which allows the trader to determine the range and limits for investments, and then it goes ahead to allocate those investments proportionally.
Bitsgap connects to a cryptocurrency exchange account via an API key and makes trades on exchanges that support it. Essentially, it will be a way to open and close orders, either manually or automatically, through third parties.
Although Binance is positioned as a platform for cryptocurrency trading, its functionality is not limited to spot trading.
In addition to it, the platform offers:
- Cryptocurrency loans
- Margin trading
- Cryptocurrency stacking
- P2P transactions
- Liquidity swap
- Leveraged trading
- Exchange of fiat currency for cryptocurrencies.
Platforms Features
Bitsgap is advertised as a new way to trade on multiple exchanges, find the best rates, and manage your portfolio effectively. The platform allows you to gather all these elements under one roof, giving you one-click access from one account.
It has carefully designed features that allow you to:
- Quickly compare rates across multiple digital currency markets
- Trade and switch instantly between different exchanges
- Keep track of your investments
- Basic and advanced order types
- Make use of price differences between exchanges through arbitrage
- Test your strategies on a demo account without risking any capital.
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Pricing Plans & Subscription Structure Comparison
Bitsgap offers three options when it comes to their packages or prices. These three include Advanced, Basic, and Pro. In addition, each package has a different set of terms and conditions that offer unique benefits.
Advanced
This is the top choice and the most commonly used package. The package costs $44 per month and includes all standard features. The monthly trading limit is $100,000 and members receive 5 active trading bots.
Basic
As the name suggests, this is the simplest type of account suitable for beginners. The account comes with a monthly fee of $19, which is quite affordable. With a basic account, you get all the standard features and unlimited exchanges.
Pro
The Pro account is best suited for experienced traders and has a monthly fee of $110. You get all the standard features with unlimited trades and monthly trading limits. In addition, the account offers 15 active trading bots and locks in profits for the bot feature.
Auto-Subscribe allows Binance to automatically subscribe to Flexible Products, with all assets in your Spot wallet every day. Auto-Subscribe.
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Customer Support
Bitsgap customer support is perfect in every way. You shouldn’t hesitate to contact [email protected], bitsgap.com chat, and in the comments.
Product Security
First, we recommend that you check out the Bitsgap knowledge base. It’s a great place to learn everything you need to know about Bitsgap. The page also has a guide to everything related to the platform’s services.
You can learn a lot from blogs, hands-on guides, and beautiful YouTube videos. Customers can use Telegram and Twitter for direct customer support. You can also email them at [email protected].
Thanks to the enhanced protection, the exchange successfully resists hacker attacks.
Overall, Binance is considered one of the safest exchanges in the cryptocurrency space. The company does not disclose all the details of its system protection so as not to make it easy for hackers. The vast majority of users’ assets are in cold wallets, which are even harder to access. Even if there is an incident on the exchange, there is a high probability that assets from the SAFU fund will be enough to fully compensate for the damage.
Strategies and Profitability
The main purpose of Bitsgap automated bots is to accumulate income in the quoted currency at the expense of the volatility of the base currency. For example, when you start trading on the BTC/BNB pair, the bot generates profits in BNB.
Thus, if you have BTC, BTT, or ADA in your portfolio, they can be used to generate income in BNB.
Conservative strategy: trade cryptocurrencies in pairs with Stablecoins, such as USDT, BUSD, and TUSD.
High-yield strategy: trading cryptocurrency for cryptocurrency, such as BTC/BNB.
It’s safe to say that Binance also is a legal platform, which with the right strategies can bring excellent passive income to its users.
Recap: Pros and Cons
Automated trading requires much less human attention. All a trader needs to do is to configure the bot following his strategy, and then the bot will autonomously monitor market offers and buy/sell currencies by the preset conditions.
Pros of trading bots:
- They work uninterruptedly. Cryptocurrency exchanges work 24/7, without weekends, holidays, and lunch. Using robots will allow you not to sacrifice sleep, and will allow you to find a profitable offer at any time of the day.
- Do not make mistakes. Traders can succumb to emotions, get distracted, or simply get tired which leads to irrational decisions and wrong actions. The robot adheres to the chosen strategy without panic or hesitation.
- Saves time. Bot controls the situation on the market by itself, without human intervention.
- Instant decision-making. Bots immediately react to the slightest fluctuations in exchange rates and automatically conduct transactions following the preset strategy. A human would not be able to physically place hundreds of orders per second if the market situation demands it.
Despite the obvious advantages, trading bots should not be perceived as a passive source of income. Your strategy should be constantly tested, analyzed, and improved, changing the software settings accordingly.
The distinctive features of Binance are:
- High speed of transactions
- Low commissions for trading and withdrawal
- Wide range of trading instruments
- Robust security algorithms
- Over 400 cryptocurrencies are available
- Top up your account with fiat currencies
- Simplified version for beginners – Binance Lite
But despite the wide range of advantages, it is important to remind about the disadvantages as well. For example, on Binance users are required to undergo KYC procedure to access the main trading tools, as well as on Binance very often errors occur during periods of active cryptocurrency trading, such as during the growth of Bitcoin or Ether, which can lead to loss of funds.
Conclusion
Bitsgap.com offers an easy-to-use cryptocurrency trading solution. A user-friendly cryptocurrency trading platform with multiple exchanges is an industry first. Is it worth it? Try the 14-day free Pro account and see the results for yourself.
The platform is safe, secure, and fully encrypted to help users trade Crypto.
Binance provides a rich selection of cryptocurrency services for users with different needs with limited disadvantages and is rightfully considered the leading exchange in the market. By joining Binance, you will enjoy some of the lowest fees in the industry and a wide selection of cryptocurrencies to trade.