Crypto trading can be lucrative, but it takes a lot of time and effort to stay up to date and make the right decisions based on multiple factors. For those looking for an easier way to trade crypto, trading bots can offer a powerful solution. Trading bots use algorithms to automatically analyze the crypto market and place trades on your behalf based on predefined settings. Bitsgap is one of the leading crypto trading bots with a wide range of features for traders of all levels. Let’s take a look at Bitsgap’s offerings and its grid trading strategy in particular.
bit gap
Bitsgap has been around since 2016 when it started prototyping and really went live in 2017 with the integration of six major crypto exchanges. A nice feature is the 7-day free trial where you can use a demo account or live balance to see how the bots work before committing to a paid plan. Currently Bitsgap has integrations with 14 exchanges including Binance, Coinbase Pro, Kucoin, Gate.io and many others.
One of the great things about Bitsgap and trading bots in general is that it takes trades for users and they don’t even need to be logged into the system. Just set up a bot and let it do the trading. It is really that easy. Bitsgap offers three main categories of trading bots including GRID bots, DCA bots and futures trading bots. Bitsgap offers “smart trading”, a range of features including options to automate user profit taking, setting stop losses and trade view integration to show preferred indicators.
GRID trading strategy
The grid trading strategy is one that sets predetermined buy and sell orders above and below a “break-even” price. Grid strategies are typically recommended for sideways or crab markets that oscillate up and down within a relatively recognizable price range (sound familiar?). Let’s say the price of an asset has been between $15 and $25 for almost a year. If you had set up a grid trading bot, it would have been buying and selling price fluctuations throughout the time the asset was moving sideways. It would be more difficult to trade or take significant long or short positions in these market conditions, but the grid strategy would have performed well in comparison.
Grid trading bot
Another good feature of grid strategies is that there are no liquidations to worry about and there is no need to rebalance funds like there is with yield farming. The price range in which orders are placed is usually quite wide, which allows users to actively trade in sideways markets for a long time. Users can set stop losses to deal with lower prices and if the price shoots up it’s no big deal because they can just take profit and close the trade or wait for the asset to get back into the range comes. The level of customization that can be applied to the bot depends on the plan (Basic, Advanced, or Pro). Finally, the Bitsgap Grid strategy takes profits in the base or quote currency, which is another nice option.
Final Thoughts
The Bitsgap trading bot and its Grid trading strategy are a solid option for those looking to automate their crypto trading. Not only does it make it easier to execute trades, but it also comes with features like stop-loss and profit-taking. The grid strategy in particular also ensures that you do not miss any opportunities in a sideways market movement. With 14 exchanges and a 7-day free trial, Bitsgap is definitely worth checking out if you don’t have much time for market research or just prefer a hands-on approach to trading.
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