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Bitsgap: FTX and Binance Futures Trading Bot

coinmonks profile image CoinMonks Originally published at Medium on ・7 min read

Bitsgap: FTX and Binance Futures Trading Terminal

Bitsgap is a cross-crypto trading platform, an all-in-one platform for trading and portfolio management that has been present in the cryptocurrency market since 2018. Crypto traders and users around the world use Bitsgap and have complete access to automated trading bots, arbitrage, signals, portfolio tracker, and trading terminal with built-in features and new updates like TWAP strategy, Shadow and Sniper modes, Smart Trade.

These trading instruments were so far available only to institutional investors and hedge funds who have their own IT departments with immense financial and human intelligence resources. With the power of artificial intelligence, machine learning, and big data retail, private investors can now trade and analyze the market faster.

Bitsgap’a interface has new statistics and multiple orders types, which allow traders and investors to experiment with new strategies and risk management.

Also, read our Bitsgap review

Futures and Spot trading on 25+ crypto exchanges

A user-friendly and intuitive interface is what traders and investors are looking for to make the decision-making process and market analysis faster. Time is money!

Bitsgap divided the trading terminal into two parts. The first part is a decision making right-side panel where users can execute orders and see their available balance on a selected cryptocurrency exchange. The second part is a left side panel with relevant cryptocurrencies infographics. Analyze the market first and then make decisions.

With full access to 25+ cryptocurrency exchanges, traders and investors can monitor crypto portfolios of all linked exchange accounts. Multiple accounts are unified under one roof.

With a new update, Bitsgap is now supporting both Futures and Spot trading from one interface. You can start leverage trading to speculate on bullish or bearish markets and use hedging strategies if you have open positions to protect. Platform multifunctional interface provides users with the data they need to monitor spot and futures positions. New cryptocurrency exchanges added: Binance Futures *and * FTX.

A new built-in feature allows you to select currencies in a matter of one mouse click, making trading much faster. This is especially useful in the extremely volatile cryptocurrency market when the price can drastically change in an undesired direction.

Automated Futures trading bots: Test, Run, Analyse

The cryptocurrency market is being flooded with a tremendous amount of various automated solutions ranging from simple auto-sell/auto-buy algorithms to sophisticated statistical algorithms.

At Bitsgap, the primary approach is “do not overcomplicate the simplicity”. Automated trading bots follow a well-known strategy, Grid trading. The trading bot puts limit orders inside of a pre-set trading range. Buy limit orders are placed below the current market price, while sell limit orders are placed above the current market price. With every executed buy limit order, bot places a new sell limit order above the executed price and vice versa. This fully automated process is interchangeable and hence gives you a significant advantage where you have the bot generating return on your behalf 24/7.

In a “Grid strategy,” traders and investors allocate the desired investment sum, which is being proportionately distributed by the algorithm. Bitsgap futures trading bots are being programmed to buy a cryptocurrency at a lower price to sell it later at a higher price, trading in a pre-defined trading range. As simple as that. Optimal market scenarios are the sideways and rising markets. In a bearish market, a cost-average effect and a profit generated by the bot neutralizes the negative price change of a base currency.

Here is a typical example of a grid configuration for theWAVES/USDT pair:

Traders and investors can check the performance of their trade ideas with Bitsgap’s backtesting tool to see what would be a potential return up until today or for a specific time period in the past. Using historical data, which contains information about price volatility, automated strategy settings, and time period “Backtesting” provides an expected return:

In the latest update, Bitsgap implemented a unique infographic feature, “Bot statistics”. This creates a powerful combination of an original “Backtesting” with “Bot statistics”. In statistics, users can now see the return generated by the active bot in a quote currency of any day.

Consequently, traders and investors can use this new input to model projected daily returns on other cryptocurrencies. Based on historical returns generated by bots having different trading configurations, users can come up with optimal settings to use for future automated strategies.

An interface of bot’s performance and statistics has also changed. All important metrics are displayed on a frontpage when you click on the “View” button, which makes it easier and faster to analyze bots’ performance if you have more than two active automated strategies.

Bitsgap 5 exit strategies

  1. Stop-loss : automated algorithm sells all of the base currency when the market price reaches the specified stop-loss price.
  2. Cancel open orders: automated algorithm closes all open sell and buy orders.
  3. Break-even : automated algorithm calculates the price and places a limit sell order at which selling all the base currency results in a 0% of the investment change. This option is available if a trade is in a loss.
  4. Market sell : automated algorithm sells all the base currency at the current market price.
  5. Take profit: automated algorithm sells all the base current when the investment change reaches the percentage you set.

Safe and secure platform usage

Bitsgap doesn’t have any access to your funds, nor to your private information. There is no need and no opportunity to make any deposits to the Bitsgap platform, as all operations are done with your funds on exchange directly through a secure connection via API.

All information is encrypted with 2048-bit standard protocols and stored on a secure network, protected by a firewall, so no one has access to your data and the high-security standards make Bitsgap twice as safe as most internet banks.

Conclusion

The cryptocurrency market matures as new derivative products and institutional investors are entering the market. To keep up with an evolving market, trading platforms like Bitsgap focus on developing instruments and automated algorithms that would help traders and investors of all levels of experience to boost returns and secure profits from the market’s pullbacks.

To test Bitsgap, you can apply for a 14-days trial period to trade in a PRO subscription plan. Moreover, trading in Bitsgap risk-free demo-mode you can discover and experiment with automated bots, try new orders like Sniper, Shadow, TWAP, and Iceberg.

Also, Read

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