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26 August
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Crypto trading platform Bitsgap sets up trading bot service to automate trading activities.

The goal of every cryptocurrency trader is to make money irrespective of any upward or downward movement in the market. But in the absence of the right tools, this goal will mostly remain a mirage.

Bitcoin, along with other cryptocurrencies, has seen erratically fluctuating prices in the past year alone, making it all but impossible for many traders to rake in profit. Due to the eagerness by traders to be among the profit-makers in the market, they tend to make a lot of errors resulting in huge financial losses. Others who try to study the market before making any move become discouraged with the amount of information necessary to keep up with the market.

Bots that are currently in the market do not also help matters. They are too complex for beginners to follow and can only be understood by tech-savvy traders. Moreover, due to how quickly the market changes direction, these algorithm-based bots which are solely configured for trading with indicators, fail to respond correctly to market anomalies.

In a bid to ease these and many more challenges faced by traders in the cryptocurrency market, Bitsgap came up with a solution that allows users to trade automatically in an erratic market without suffering. The Bitsgap crypto trading bot, which came into being about three months ago, has been simplified for everyone to use.

The trading bot can be set up in three easy steps:

  • User selects a price channel with the highest selling price and the lowest buying price.
  • User decides how many open orders the bot should hold simultaneously.
  • User sets a personal deposit size for the bot.

The aim of the robot is to buy a cryptocurrency when the price goes down and sell it when it goes up. Each order is placed automatically and interchangeably. In other words, as soon as the first sell order gets executed, a buying order is placed at the previous price level. And vice versa. This strategy allows traders to continually generate earnings when the price regularly jumps up and down, without any strong moves.

In addition, users can view the backtest result for a previous historic period while the system creates strategies from it, choosing the optimal number of grids and a price range. In simple terms, traders can select any predefined strategy and fund it with their budgeted investment. The bot will do the rest.

As per results, they are noticeable after the first trade is complete. It takes no more than a day for traders to understand how the fluctuation benefits their account.

Further, the Bitsgap unified interface allows traders to monitor bots’ activities in live mode and share them with friends using a unique link.

The Trading Bot is designed by the in-house engineering team of Bitsgap. Ever since its successful release, traders can now conveniently run the bot on popular cryptocurrency exchanges including Binance, KuCoin, Bittrex, Poloniex, Coinbase Pro, Bitfinex, Kraken, and Huobi.

The bot, like other services, has a demo mode with full imitation of the real crypto exchange order books. This mode allows traders to get familiar with the platform and functionality in a risk-free environment before they start operating with real money. As a welcoming bonus, all new users will receive a 2-week trial where they can create their first bot and get an advantage over the side-ways market.

Bitsgap, an Estonian based company, revolutionized cryptocurrency trading with the introduction of the platform aggregator in early February 2018. The platform provides hassle-free experience in Trading, Portfolio Tracking, Arbitrage, Trading Signals, and Automated Bots.

Currently, the platform provides coverage for more than 25 major crypto exchanges and gives access to more than 10,000 trading currency pairs.

To learn more, visit www.bitsgap.com

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