Bitsgap vs Mudrex: Which One Is The Bot For You?

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Let’s make Bitsgap vs Mudrex comparison so you can easily figure out which option is best for you.

Artificial Intelligence’s two key powers are automation and insight, which both play a key role in virtual currency trading. Bot trading is now used by crypto investors to automate the buying and selling of positions based on key technical indicators, just as they do in conventional stock trading with the help of AI. 

Currency exchange bots are software applications that allocate and control trades on the strength of established guidelines. Thanks to this, a medium trader becomes more productive, works twenty-four hours a day and is not tired.

Cryptobots for forex automated trading are represented by different types of encryption software. With such software, you are able to work with exchanges even with no extensive experience in crystal-currency arbitrage.

Desktop computerized cryptocurrency trading with the help of bots is available to both beginners and experienced traders. What you need is to understand the basics of the marketplace and understand a little bit about how the bots themselves work.

Forex trading bots have a similar way of working to modern trade execution programs. However, the way cryptocurrency DCA and GRID bots perform their functions can vary greatly depending on how they are programmed. Some type may rely on traditional technical analysis methods, while others may function by reading incoming data.  

Before moving on, you should note that it is better to learn more about the trading industry and the role of Bitsgap vs Mudrex bots.  

Supported Exchanges: Bitsgap vs Mudrex

Cryptocurrency trading bots will need to connect to your exchange, from where they can help you trade and make money while you sleep. 

If you want to know what cryptocurrencies are supported by the two popular platforms, you can easily find the answer Bitsgap VS MUDREX

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Bitsgap Supported Exchanges

The exchanges that Bitsgap supports are quite diverse.

Among them:

Traders borrow money from the exchange for a commission, which is continually paid back. While this is a riskier plan, it also has a better chance of paying off. 

Mudrex Supported Exchanges

Users can either trade using a Mudrex crypto wallet or use a cryptocurrency exchange. Mudrex supports spot cryptocurrency exchanges:

  • Binance and Binance US.
  • OkEx.
  • Coinbase Pro.

To this will soon be added:

  • Kraken
  • HitBTC
  • Poloniex
  • Huobi
  • Bitfinex

Invest for long-term profitability.

Although there are many cryptocurrency exchanges, the most effective and reliable bots for trading cryptocurrency may not support it.

The most supported cryptocurrency exchange is Binance. If you are in a country where Binance is not supported, Coinbase should be a good second option.

While Binance is by far the most popular cryptocurrency exchange and controls most of the market, Coinbase ranks second.

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Cryptocurrencies Comparison

Bitsgap was launched in 2018 as an all-in-one algorithmic trading platform. In addition to the trading bot, users can also use Bitsgap’s exclusive dashboard, through which they can simultaneously trade on about 30 cryptocurrency exchanges with access to more than 10,000 trading pairs.

But what is mudrex? Created in 2018, Mudrex is also a cryptocurrency trading bot that offers algorithmic trading to its users. Mudrex managed to raise $150,000 in a seed round in 2019, with Y Combinator as the main investor. Since then, many other venture capital firms have also invested in the cryptocurrency trading bot.

Mudrex allows you to invest wisely using the expertise of professional crypto traders. You can invest directly in the best traders, in customized cryptocurrencies to protect against storms or any other products.

Trading Tools

So how do you choose to create a trading bot without any skills? Very easy! You just drag and drop ready-made concepts and mechanisms to customize your bot in the best way possible.

Here’s what the two competing platforms offer:

Bitsgap Tools

Like many similar solutions, Bitsgap focuses on providing a simple interface through which traders can use their bot. They can use numerous trading strategies across multiple timeframes, including a special arbitrage service that checks for price differences for certain trading pairs. A unique dashboard helps with arbitrage capabilities, as the user can manually buy a token on one exchange and instantly sell it on another exchange at a higher price.

Mudrex Tools

Customers are able to reproduce their own bot ideas and implement strategies on Mudrex. No special knowledge of professional coding is required. It offers an intuitive trading strategy builder to help create, test and implement different trading solutions.

All-in-one crypto investment platform bringing profitable solutions to the average investor.

The builder also comes with a backtesting mechanism, and it in turn monitors the productivity of using the bot. 

Platforms Features

In the next part of our Bitsgap vs Mudrex review, we will point out and demonstrate the main features of these platforms that really make them unique.

Features of Bitsgap

The Bitsgap interface is quite easy to use, and it provides three main features:  

  1. An interface for setting up smart trading orders manually.  

The Portfolio Manager allows users to see all their assets on all connected exchanges. This module also allows them to track their active bots, check open positions and view trading history.  

  1. Demo Mode 

The demo account access allows users to try out the platform and get used to it before trading for real money. This is especially useful if they want to compare both platforms.  

  1. Predefined strategies with backtesting 

Traders who use Bitsgap bots can apply pre configured strategies. Users can choose any strategy based on how well it has performed in the backtest, which shows how reliable it is.  

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Overall, Bitsgap has everything a trader needs to make their life much easier. 

Features of Mudrex

  • Crypto investing is simplified.

Crypto investing can be confusing and full of unknowns. But Mudrex simplifies this by offering products created by successful traders and experts.

  • Risk Management.

Mudrex offers a wide range of investment options with different risk/reward profiles.

  • Mudrex Coin Sets.

Coin Sets are themed bundles of cryptocurrencies that are actively managed by experts. They also help you diversify your investments by topic and minimize risk.

  • Algos.

Bots based on technical analysis are pre-tuned to give you consistent long-term returns.  

Pricing Plans & Subscription Structure Comparison

Trading bots help you take advantage of market opportunities at all times. They can also help reduce boredom for traders and reduce time spent in front of monitors.

Bitsgap and Mudrex pricing and platform plans differ slightly in their breadth of bots options:

Bitsgap Plans

Basic: $19 per month

Advanced: $44 per month

Pro: $110/month

Mudrex Plans

Free Trial: $0

Premium Plan: $16 per month

License Mudrex prices are relatively cheap for both platforms. For beginners and Bitsgap users, Mudrex offers a limited free trial.  

Customer Support

If people decide to buy one of the packages of these two platforms, who will help them if something goes wrong or an unforeseen situation arises?  

Bitsgap offers chat support from the platform to keep up with other similar trading bots. Judging from the trading experience of people who have reviewed the bot’s online customer support, their responses are quick and helpful. 

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Mudrex is designed for both novice and professional investors who want to take advantage of algorithmic trading. If an investor has difficulty navigating crypto trading, this platform was designed to make the process easier. But apart from that, the customer support is top-notch and the professional team is ready to advise and answer your questions at any time.

Product Security

Security is one of the most important features. Well, let’s see what the platforms have to offer:

Bitsgap Security

The platform is highly secure and can be downloaded to your desktop or smartphone. Users also have the option to use Bitsgap directly through a web browser. If desired, traders can configure many security settings to secure their account.

For example, Bitsgap supports two-factor authentication and email confirmation when logging in. In addition, all users configure permissions for their API keys. But ultimately, the app only needs access to your trading history, trading permission, and balance. At any given time, your funds remain on the exchange itself.

Mudrex Security

This tool only conducts transactions through the API. Therefore, there is no way to control or in any way transfer your money. All the safety of your holdings is ensured, in case of hacking itself. In order to entice users to its own platform, of course, Mudrex has built a set of innovative functionalities that makes it easy to trade the cryptocurrency.  

Read more:  Bitsgap vs Binance: Which One Is The Bot For You?

Strategies and Profitability

Traders who use Bitsgap bots can apply already configured strategies. Users can choose any strategy based on how well it has performed in the backtest, which shows how reliable it is.  

Bitsgap strategies
Bitsgap trading platform offers many automated trading strategies like: Crypto Trading Bot; Grid bot; Dollar Cost Averaging (DCA) bot…

Overall, Bitsgap has everything a trader needs to make their life much easier. 

Mudrex is also keeping up. It offers over 200 indicators and patterns that you can automatically add to your strategy. In addition, the creators can make money by publishing great trading bots on the platform. 

Recap: Pros and Cons

The features and characteristics of the platforms are very promising. But let’s go back to the facts and evaluate the advantages as well as the disadvantages.

Bitsgap  

AdvantagesDisadvantages
Easy to use for professionals and beginners alike.  
You can use historical data to see how well a particular strategy would have worked.  
A long list of leading exchanges is supported. 
Even the cheapest plan allows users to install more than one bot.  
Bitsgap has no copy trading.
Of course not all trading bot platforms have this feature, but it is very popular.  
It’s also not the cheapest choice.
There are cheaper options, but traders have to think about what they can do with them because they are often limited.  

Mudrex

AdvantagesDisadvantages
With Mudrex you get all the information about your trades in real time to ensure transparency and credibility.
Mudrex has a system you can rely on; as a result you won’t miss any good trading opportunities.
Mudrex has developed a combination of stratagems in order to reduce risk in different market conditions.
Access to investment strategies that until now have only been available to institutional investors.
Does not have paper trading and it is not available on some major exchanges such as KuCoin.

Conclusion

To sum it up, Bitsgap is one of the best places to start trading cryptocurrencies with bots if people are just starting out. It’s made to be easy for anyone to use, and even with the cheapest plan you can set up a lot of bots. 

However, Bitsgap has a higher-than-average monthly fee, and it lacks the social trading and copying features that beginners like. Mudrex takes two types of fees: a 0.2% charge and an additional 18% on the fee.

An excellent platform for first-time users of online cryptocurrency merchant bots, Mudrex is a perfect choice for those who wish to try cryptocurrency bots for the pleasure of their business. It might not offer the largest range of features, but instead provides a simple user experience that makes it very easy to guide and design bots in no time whatsoever.

Beginners will be comfortable working on these two platforms. However, they need to understand that there are no such clear-cut, independent digital cryptocurrency bots that can consistently make profit. Trader should be able to set up a trading robot or write algorithmic strategies himself. Only then it is possible to create a profitable strategy.

A novice trader without trading experience and understanding of market mechanisms will not be able to create an effective strategy. By using pre-installed cryptocurrency bots, a beginner risks losing his deposit. You should first of all learn how to trade on your own. Then you can use bots to boot from routines and diversify risks.

You’ve seen all the great features that make each of these two cryptobots stand out.

But where you go next and which one you choose is entirely up to you, because we are all different, with different needs.

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