<Hong Kong, September 07, 2020> Today Crypto.com introduced the Spanish version of its App and Exchange, marking another milestone for the company on its mission to accelerate the world’s transition to cryptocurrency. As a result, Crypto.com’s services will be accessible to the 500m+ Spanish-speaking community around the world.
The Spanish-language versions of the App and Exchange follow the recent release of French-language versions, as the company continues to grow globally and especially throughout Europe. Known for its deep liquidity, low fees and Crypto Earn program, Crypto.com reached the 3 million user milestone in July. This milestone was reached shortly after rolling out the Crypto.com Card to 31 European markets in April. Since then, the Crypto.com App has reached top 50 in the Finance category in Spain, France, UK, and Italy where its popularity continues to grow thanks to unrivaled benefits: competitive rates, unprecedented cashback rewards when shopping with the Crypto.com card, and the ability to purchase Gift Cards using crypto for top brands throughout Europe. The team has bolstered its regulatory compliance within the complex payments and crypto ecosystem and launched local Telegram communities supporting most EU languages for better access to instant feedback and support.
Mariana Gospodinova, Crypto.com’s Europe GM said: “Shortly after releasing the French-language version of our App and Exchange, we’re excited to be supporting the vibrant Spanish-speaking community as well. This is yet another solid step on our mission to accelerate the world’s transition to cryptocurrency. Expect to see more languages supported in the near future.”
Spanish language versions of both the Crypto.com App and Crypto.com Exchange will be available immediately. Crypto.com will provide community support via its dedicated Spanish-language Telegram channel: https://t.me/Cryptocom_ES
About Crypto.com
Crypto.com was founded in 2016 on a simple belief: it’s a basic human right for everyone to control their money, data and identity. With over 3 million users on its platform today, Crypto.com provides a powerful alternative to traditional financial services, turning its vision of “cryptocurrency in every wallet” into reality, one customer at a time. Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have ISO/IEC 27701:2019, CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance. Crypto.com is headquartered in Hong Kong with a 500+ strong team. For more information, please visit www.crypto.com.
It was reported that the New York Supreme Court rejected Bitfinex’s appeal in the ongoing dispute with over more than $850 million lost corporate and client funds.
According to the latest crypto news, iFinex, who operates Tether and Bitfinex told that they deposited the funds to a Panama-based company but was later apprehended by Portuguese, Polish, and American authorities.
The court also declined the argument that Tether was neither a commodity nor security.
‘Not even virtual currencies are above the law. We are pleased with the court’s decision, and will continue to protect the interest of investors in the marketplace’
Attorney General Letitia James said.
Attorney James is the one who filed a lawsuit accusing Bitfinex of using the reserves of Tether, an affiliated company, to cover up their loss to a Panamanian payment processor.
‘We will respect the court’s order. We have no further comment on this matter at this time’,
Stuart Hoegner said, Bitfinex’s general counsel.
Bitfinex is a known cryptocurrency exchange that is owned and operated by iFinex. Even before this issue, the company also lost about $400,000 in 2015 and $73 million in 2016 due to hacking schemes.
It is also a company known as a peer-to-peer Bitcoin exchange that offers digital asset trading services around the world.
Challenges in Running a Cryptocurrency Exchange
There are a lot of things to consider when it comes to operating a cryptocurrency exchange. You need to consider the regulation in the country you operate in and even the level of security you can provide to your customers.
The regulations concerning crypto can vary from being too strict or nothing at all. There are also a lot of government officials who are considering stronger anti-money laundering laws. As a matter of fact, the Crypto-Currency Act of 2020 was already introduced by Paul Gosar, a Republican from Arizona. It is a proposed bill that helps the government regulate crypto transactions.
In addition, regulations are also always subject to change. It may also cost a lot to pay for a professional to help understand and verify AML (anti-money laundering) documentation from customers. Failing to do so may lead to expensive fines or might even cause the platform to shut down.
An AML is a set of laws, regulations, and procedures specially designed to stop people from generating income through illegal means.
Another challenge is maintaining consumer traffic while providing a user experience that pleases everyone. Aside from having good exchange rates, customers also want to make sure that the funds are safe from inside operators and hackers. This is also the reason why the crypto market has one of the most active customer service support.
However, even if there are a lot of challenges to face, most cryptocurrency exchange companies are willing to take the risk because of the increasing crypto users, especially Bitcoin owners.
The Value of Gold
On the other hand, Michael Novogratz advised investors to own more gold than Bitcoin. Novogratz is also the one who predicted the possibility of BTC hitting the $20,000 by the end of 2020.
‘My sense is that Bitcoin way outperforms gold, but I would tell people to have a lot less Bitcoin than they have gold, just because of the volatility. Bitcoin is still hard to buy. If it was easier to buy, it would be a lot higher. And there are more and more people making it easier to buy: funds being set up, custodies being done, at one point we’ll get an ETF’,
Novogratz said.
He also stated that Bitcoin is still in the early adoption cycle which makes it difficult to obtain. But if more digital currency tools are introduced in the market, there is a big possibility for mass adoption to crypto.
Amidst the COVID-19 outbreak, the value of gold broke its $1,800 threshold. It is also the highest recorded price since 2011. The spike in the value of gold is said to be the result of economic fear because of the pandemic.
Mining Investment
It was also reported that small companies who are planning to invest in mining equipment might totally result in a positive outcome. Even after the Bitcoin halving event, the miners are indicating an optimistic look for the crypto industry.
‘Mining is a business that is absolute in the key numbers, so it’s simply a question of assessing profitability on an ongoing basis. While difficulty and hash rate is variable and closely related, we can assume that both will increase over time. If the Bitcoin price rises significantly, we can also be quite confident that they will rise much faster’,
Jason Deane said, an advisor and financial analyst.
‘It all comes down to cost and protecting position — if you can secure power that ensures your breakeven is very low, say $6,000 or less per Bitcoin, then you have good insurance against whatever comes next’,
Blockchainsation is the biggest Blockchain and Cryptocurrency related event in the region. It is 3 days of fun, blockchain and crypto experts, networking, useful knowledge, relaxation, and much more in the heart of Slovenia. It will take place from 14th – 16th of May 2021 in a beautiful city of Laško in Slovenia.
Blockchainsation slogan is: “…more than a conference”, and by the words of Roman Berginc, CEO of All About Crypto who is main organizer of the event, it will be more than a conference.
“On every conference I expect: useful knowledge, new connections, lots of fun and good food. Think about how many conferences did you attend lately that gave you all of that? Well whole event preparation is focused in providing you at least those few. But I’m pretty sure you will get much more.”
In this 3 day event attendees will have a chance to get a detailed view on what exactly is happening in Blockchain and Cryptocurrency world lately.
What is the status of various ICO projects?
Which are the working solutions that came out and people can utilize already?
How the industry has evolved?
Where are we going / what’s next?
Where are we already using blockchain and why?
Is there a use case of implementing blockchain solution in my industry?
…and much, much more.
Event will be happening on multiple stages, so it will be easy to select a theme that is of attendee’s best interest.
Large role in event dynamics will be provided by event partners and exhibitors who will showcase their products and solutions and provide detailed information about it, so everyone will have a chance to get their questions answered directly from the experts.
Blockchainsation will provide plenty of time also to connect with other people and have a chat at our social event or schedule a meeting using match-making tool, which does not only provide information about the person, but also helps you in checking how good your potential cooperation could be using specialized system for performing these checks. Details about it will be explained in one of upcoming interviews.
Besides all that, as stated already on the start, the goal is, that after event, every –ones words will be “Well, this was really more than a conference”.
Summer has officially come to an end and Week 36 is already in full swing. This means that it is time for our already established weekly article on Top 3 coins to watch. Get ready because we think that an interesting week is ahead of us.
1. Synthetix Network Token (SNX)
Synthetix is an upgraded version of the Havven protocol, which is a decentralised payment network and nUSD stablecoin issuer that aims to allow anyone to transact using a stable cryptocurrency. Synthetix on the other hand strives to offer much more. The SNX token will act as a collateral asset to back several synthetic assets, such as stablecoins pegged to the price of various fiat currencies, precious metals, and other cryptocurrencies.
The Synthetix team deployed the Pollux upgrade on August 31 at 9pm UTC. The upgrade features improvements to several features, such as the trading and volume incentive system, staking rewards contracts, and flexible contract storage. In addition, the upgrade includes an integration of the ChainLink’s oracle. During the mainnet upgrade users were unable to transfer SNX or Synths or access Mintr and Synthetix.Exchange. The process took several hours to complete. Just recently, the project announced successful upgrade roll-out on Twitter. You can read more about the features that the Pollux upgrade brought here.
2. Just (JST)
JUST is a decentralized lending platform that allows users to stake their Tron (TRX) tokens. Stakers are rewarded with the USDJ stablecoin for locking their TRX into the JUST’s CDP portal.
The project was launched by famous Chinese crypto entrepreneur Justin Sun, who is best known for his position as the founder and CEO of the TRON blockchain project. The 28-year old entrepreneur, who started out his crypto journey as an employee of Ripple, often faces criticism for his aggressive promotion of TRON on social media. Furthermore, Sun recently launched a DeFi meme coin named after himself ($SUN), which he proudly announced to his 2.1 million Twitter followers:
According to Justin Sun, the USDJ and JST yield farming feature has gone live on August 31. The Tron network is apparently setting sail into the DeFi space as they also launched the JUSTswap platform, an alternative to the popular DeFi exchange Uniswap, on August 17. JUST now aims to enter DeFi lending, acting similarly to MakerDAO. The launch of yield farming will grant increased attention and trading activity to both the USDJ stablecoin and the JST token.
3. Polkadot (DOT)
Polkadot is a blockchain solution that allows multiple specialized blockchains called parachains to run at the same time and interoperate, granting economic and transactional scalability.
Polkadot Surges to 5th Place by Market Capitalization
The Polkadot’s cryptocurrency (DOT) underwent a redenomination process on August 21, 2020. The community voted in favour of changing the number of Plancks (Polkadot equivalent of Satoshis in BTC) that constitute one full DOT. Before the redenomination 1 DOT was made of 10^12 Planck, while now 10^10 Plancks make 1 DOT. It is also worth noting that the token only became transferable on August 18. Prior to that date the token was being offered as an IOU document. Naturally, the August 21 100:1 split caused quite some confusion on the market as some exchanges including the renowned Kraken and Binance immediately switched to the new denomination and slashed the price of the DOT to 1/100 of what it was before, while others who continued to offer DOT IOU were still selling it for around $300. Soon after DOT trading commenced at the starting price of $3, the coin doubled its price, launching the Polkadot project to the top 10 cryptocurrencies by market capitalization. The project currently ranks 5th, just after XRP and right before LINK, with its $5.5 billion market capitalization. The question arises, will DOT manage to cement its place among the top 5 cryptocurrencies? In any case, we believe that it is worth keeping an eye on this project.
New York, NY September 1, 2020 – The Blockchain Education Network (BEN) has announced the next iteration of its yearly airdrop, an educational campaign and event where students and blockchain clubs at academic institutions from around the world receive digital assets that introduce them to blockchain technology. The campaign starts on September 1st, and for 28 days students from across the world will be able to sign up for the airdrop. On September 29, the airdrop will be distributed during a global Zoom party hosted by the BEN executive team.
The transition across campuses switching to remote learning has made the airdrop especially important. BEN is an international community that has educated students, professors, and alumni since 2014 about the potential of blockchain technology. Members are provided with discussion forums and meetups, free special access to conferences and hackathons, and over four years of educational content. The network includes blockchain clubs from Rutgers University, MIT, Harvard, Stanford, Berkeley, and University of Michigan all the way to İstanbul Bilgi, IIT Bombay, and Tsinghua University.
“We’re excited to offer the Rutgers Business School Blockchain Hub and Rutgers students another opportunity to learn first hand about the digital asset space. This experience will help prepare them for a future where this technology will be essential in business transactions of all kinds. Proud to be working with BEN to make it happen!”
Chris Buren, Rutgers Business School Blockchain Hub president.
“BEN Turkey is participating in the BEN Global Airdrop which will help students learn about the digital asset space and why it’s needed. We will be giving this airdrop to our 5 existing blockchain clubs at Bahçeşehir, İstanbul, Sabancı, İstanbul Bilgi, and Kocaeli universities. With this opportunity, we also aim to reach new students from universities in Turkey that don’t have blockchain clubs yet.”
Müge Sarıtaş, BEN Turkey marketing coordinator.
“Making blockchain education more accessible to high-schoolers is crucial to prevent falling behind as a diverse range of industries are adopting blockchain. BEN’s latest airdrop aims to engage high-schoolers through a more accessible medium.”
Adit Gupta, BEN student ambassador at Reseda Charter High School in Los Angeles, CA
Every year, BEN coordinates a series of programs and events with the help of partners to educate and empower its 2,350+ students and alumni. The BEN Global Airdrop allows students to engage with blockchain by downloading a digital wallet, setting up an account on specific exchanges and other platforms, and becoming familiar with what it means to exchange value over the internet. This year, students will be given Bitcoin (BTC), provided by GDA Capital, and GAME Credits (GAME) tokens, an ERC20 that represents a new standard in digital assets for the gaming industry. BEN encourages other digital asset projects who want to engage academic institutions to reach out to get involved.
GAME Credits, a blockchain gaming network and one of this year’s main supporters, has allocated $5,000 USD worth of ERC20 tokens for 1,000 students. This will help students understand how their favorite video games could benefit from having internal, blockchain-based currencies.
“BEN has been a leader in blockchain education and empowerment for many years now. GAME Credits also believes in investing in the future and education and working with institutions of higher learning is a large part of our culture. It only makes sense to take part in the BEN Global Airdrop, which helps further the ethos that BEN has established of cultivating the next generation of innovators and entrepreneurs”
Jason Cassidy, CEO of GAME Credits.
The BEN Global Airdrop is an initiative developed in partnership with the GDA Group of Companies, an institution that fosters financial technology, blockchain, digital assets, and other disruptive technology businesses.
About BEN
The Blockchain Education Network (BEN) is a global network of blockchain students, clubs, professors, and alumni founded in 2014. BEN provides accessible blockchain educational resources, free and discounted conference tickets, jobs and internship opportunities, as well as an online and offline community for all its members. BEN has over 2,350 students who have gone through the program across 400 universities in over 96 countries. BEN’s team is spread across the USA, Canada, Italy, Turkey, India, Colombia, Australia, Dubai, Vietnam, and more.
GDA Capital (GDA), the capital markets arm of the GDA Group of Companies, was founded by MLG Blockchain & Secure Digital Markets in 2019 bringing together 50+ years of digital asset focused capital markets, trading and financial technology experience. GDA also has a private equity and GDA ventures division to provide end-to-end solutions to disruptive and cutting-edge blockchain projects. GDA acts as the bridge between institutional capital into disruptive technology markets and has executed over $1 billion in transactions.
GAME Credits (GAME) is the original in-game currency focused on eSports and the NFT (digitable) economy. With the power of blockchain technology, gamers can now have full ownership over all of in-game items allowing to sell them in a secondary market to other gamers or collectors. GAME Credits brings a new level of innovation to the gaming experience by allowing gamers to stake their GAME on their favorite games and be rewarded with GAME Rewards from those they stake on, making it much more than just an in-game currency.
Konstantin Anissimov, Executive Director at CEX.IO:
Following Monday’s, August 24th, open, the flagship cryptocurrency went through a bullish impulse that saw its price rise by nearly 1.50%. Bitcoin kicked off the day at $11,650 and quickly surged to hit a weekly high of $11,823. The upward price action in such a short period after the first trading session of the week began suggested that BTC was bound for a further advance.
As investors became overwhelmingly confident about further gains, they started placing their bets. However, the market turned around on August 25th, wiping out many traders. Roughly $152 million worth of long and short Bitcoin positions were liquidated across the board on this day alone. The 5.53% nosedive the pioneer cryptocurrency took on Tuesday was the leading cause for so many margin calls.
Indeed, BTC went from $11,753.26 to hit $11,102.72, which was the week’s lowest price point. This price hurdle, however, served as stiff support allowing prices to rebound. By Wednesday, August 26th, at 16:00 UTC, Bitcoin had recovered nearly 4% of the losses incurred, rising to a high of $11,540.
Another downswing took place throughout Thursday, August 27th, that appeared to have formed a double bottom pattern on the hourly chart. Following the peak of the previous day, the bellwether cryptocurrency dropped by 3.60% to hit a low $11,125. The “W” pattern was then confirmed as Bitcoin bounced off this support level to close the week at $11,535, providing investors a negative weekly return of 0.99%.
Ethereum Goes Through High Volatility But Closed the Week With 1.17% Gains
Like Bitcoin, the smart contracts giant also kicked off the week on the right foot. Its price surged from Monday’s, August 24th, open of $390.78 to hit a weekly high of $411.97, representing a 5.42% upswing. Given the significant gains posted on Monday alone, ETH holders seem to have gotten over-excited about the upward price action, and the bears noticed it.
As a result, a considerable number of sell orders began piling up across different cryptocurrency exchanges. The mounting selling pressure was significant enough to push Ether’s price down over 10%. The second-largest cryptocurrency by market capitalization went from trading at a high of $411.97 on Monday to reach $369.36 on Tuesday, August 25th, which was the lowest price point of the week.
Regardless of the downward price action, demand quickly picked up around this support barrier, allowing ETH to rebound. Ethereum then surged by 6.54% to hit a high of $393.50 by Wednesday, August 26th, at 16:00 UTC. Such a stiff price hurdle was able to keep surging prices at bay, triggering a 5.59% retracement that extended throughout August 27th.
The $370 support level proved to be an area of significant interest once again, sending Ethereum back up. From that point on, Ether entered an uptrend that saw its price rise over 6.40% to close the week at $295.35. Despite the high levels of volatility that ETH experienced throughout the week, it provided investors a weekly return of 1.17%.
Further Gains on the Horizon
Based on the price action that Bitcoin and Ethereum went through over the past week, it seems like these cryptocurrencies have developed the same reversal patterns on their hourly chart. The appearance of a double bottom formation suggests that BTC and ETH will likely continue to rise towards $11,800 and $410, respectively. But breaking through these resistance levels would likely result in further gains.
Indeed, the top two cryptocurrencies by market capitalization seem to be contained within parallel channels from a macro-perspective. Following the recent test of this technical pattern’s lower boundary, it is reasonable to assume that they will surge to test the upper edge. Such a bullish scenario will be confirmed when these cryptocurrencies break above the overhead resistance previously mentioned.
If this happens, Bitcoin may be able to surge towards $12,000, while Ethereum would likely aim for $440. Everything will depend on their ability to continue trading above the lowest price points of the week.
Scammers are services that exist to steal the money of crypto traders using different schemes which depend on the type of service. Unsafe crypto wallets, scam crypto bots, exchanges, ICOs – they are not uncommon nowadays. These fake services are the biggest challenge for the crypto market.
Safetrading appeared more than two years ago. This cryptocurrency platform was created by Andreas Schmidt because of his tragic experience. His biggest belief is that people should learn from the mistakes of others, and he is ready to help beginner-traders to invest safely and get profits.
As we know, the real challenge for newcomers is to find legit services – 70% of newcomers lose their money because of the lack of knowledge or after working with scam services. For example, according to the calculations of Safetrading, 85-90% of crypto signals trading Telegram groups are scammers.
These figures above are not made-up.
Safetrading is unique – it checks cryptocurrency services with the help of artificial intelligence which, based on important parameters, can make a conclusion about the quality of services.
Machine learning helps to analyze the big amount of data and, based on the unique algorithm, create patterns that allow making the final conclusion.
Among the important parameters are mentions of the exchange or bot in different doubtful sources, feedback of users on the Internet, profit, number of services, features, the background of founders, year of establishment, the source of investments, etc.
At the beginning of the activity, the traders behind Safetrading did everything on their own using their special calculation rules, and later, when this platform became a real breakthrough on the market, they decided to connect AI algorithms which carry out the procedure faster and analyze the data which is impossible to be gathered manually.
Many people may think that this type of review can be improbable because programs make mistakes. Safetrading claims that the accuracy of their algorithm is 95% and this is enough to make the final conclusions. The number of negative feedback on crypto service providers decreased by 15 times, and the number of positive ones increased significantly, and these results confirm the quality of the algorithm.
Then, based on the results of this review, human thinking interferes. The team analyses all the results and then check some more features that can’t be checked by AI. After all of the processes of review, the team writes a comprehensive audit about the trader or bot.
Right now this program can review only crypto signals channels and crypto trading bots. Soon the review of exchanges and wallets will be conducted in this manner to help you with finding the best crypto wallet.
Many traders hope that cryptocurrency has great potential in the near future, and all of us need to do all our best to make this future safe and legit.
Stablecoins are on the verge of a cambrian explosion. With total market capitalization now exceeding $11 billion, and transaction volumes consistently topping those of flagship cryptocurrency Bitcoin, this emerging crypto asset class has only just begun to showcase its utility. The WSA launched in the midst of immense stablecoin innovation, and looks to provide a united front to address both technical and regulatory concerns. Its presence will not only help to establish clarity and best practices, but foster collaboration between projects.
One of the major factors limiting blockchain adoption today is the immense volatility. Although cryptocurrencies have provided arguably a superior medium of exchange when compared to traditional financial infrastructure, the lack of stability does not allow many of these assets to function as an effective store of value or unit of account. This is where stablecoins come in, combining all the benefits of blockchain technology, with the stability necessary for everyday commerce.
“We are on the cusp of disruptive innovation within the stablecoin sector,”
said Adam Cai, CEO at VirgoX.
“Stablecoins have only begun to demonstrate their utility. With a total market cap exceeding 10 billion, the applications of stablecoins globally are ever expanding. With the WSA, the ecosystem will grow significantly in the coming year.”
The World Stablecoin Summit is the first of its kind, and the largest gathering of stablecoin projects. This is a forum for disruptive companies, innovators, investors and advocates of the stablecoin community. Participants will discuss mainstream adoption, governance and policy, and the inevitable impact that stablecoins will have on modern finance, economics and global culture.
The idea of cryptocurrency trading platforms has been around for a few years now, but rarely do they offer much flexibility for their users. Recently unveiling a redesigned, next generation platform that lets users connect their account with 30+ top crypto exchanges, Bitsgap offers an alternative crypto trading system that is set to blow the competition out of the water.
With three years in business already under their belt, Bitsgap has a leg up on other automated cryptocurrency trading platforms in terms of experience and know-how. They plan on using this advantage to help take them to the top of the industry, bringing their customers along with them.
What is Bitsgap?
At its core, Bitsgap is an advanced solution for crypto trading and arbitrage that provides its users with a flexible array of options. Bitsgap offers all the functionality of a regular automated crypto trading platform along with special features not shared with others, including access to backtesting data, smart orders, and the use of up to 15 different trading bots simultaneously. It is accessible by all types of devices, has a user-friendly interface and supports connections with most of the industry’s top exchanges.
In addition to conducting arbitrage trades among hundreds of different cryptocurrencies on over 30 different exchanges, Bitsgap allows for several different types of trades to be made, including market orders, limit orders, stop limit orders, and even shadow orders (hidden from the orderbook). Included is a number of support tools, such as portfolio tracking, signals, and bot management, all managed from one dashboard.
Bitsgap also features a demo version of their platform so users can first practice their trading. This is a great way to learn all the ins-and-outs of how the platform operates without having to risk real funds, giving users a chance to develop a sense of familiarity with it.
Bitsgap Security
While the Bitsgap platform itself is professionally designed and built for maximum stability, no deposits of customer trading funds are ever made on to the platform itself, which means it is risk-free as far as funds security is concerned. Instead, customers connect their exchange accounts to Bitsgap using the API keys of the exchanges.
Using an API connection that does not include withdrawal privileges means that Bitsgap will never have access to customer funds held on exchanges, where they remain safely stored. It only allows them to conduct trades on behalf of the user. Additionally, all orders through API are secured by Bitsgap using high-end 2048-bit encryption.
Features of Bitsgap
Below we discuss the main components of Bitsgap which are represented as a series of tabs at the top of the home screen after logging in.
Trading
This is the main trading screen for exchanges connected to Bitsgap by the user via exchange API. It basically allows users to conduct trades on all their exchanges at once instead of having to manually log in to all of them. It features an orderbook, interactive chart screen, list of coin pairings, recent trades, order screen, and open orders, along with the user’s balance on the exchange, open positions, and trade history. The current exchange can be changed by clicking on the name of the exchange found above the chart screen. This will bring up a list of the 30+ exchanges that can currently be connected to Bitsgap.
In addition to the basic market and limit order types, some of the more advanced orders that can be placed through Bitsgap include:
Stop-loss/take profit orders. Using this type of order will make sure that orders are executed upon reaching a certain price limit. These orders are used to minimize losses or maximize gains.
Shadow orders. This allows users to place orders that are not reflected in the exchange order book. The order still exists per instructions sent via API connection but cannot be seen by other traders.
Smart orders. This is an advanced order which sets a simultaneous combination of stop-loss and take profit orders, available to those with upgraded plans only.
Bots
This is where Bitsgap’s selection of trading bots can be found. Once a platform user has a coin balance on an exchange and has successfully connected that exchange’s API to their Bitsgap account, they can activate the bot of their choice to start making automated trades for them. To the right of the coin pairing chart are different options for selecting the bot, exchange, coin pair, configuration options, and maximum amount to be traded by that bot.
Below that is a list of the most successful trading strategies for the particular bot selected based on backtest data, which is a simulation of how the bot would have performed when trading different coin pairings offered by the selected exchange. The backtest result can be displayed according to returns delivered in the last month, week, or 3 days. Bots can be started with just a few clicks and profits tracked in the History tab of the screen (to the left of the backtest performance results).
Signals
This tab displays potential buy opportunities as detected by Bitsgap’s special crypto monitoring algorithms. They run across all supported exchanges 24/7, scouring thousands of trading pairs for price movement anomalies. Displayed for each entry is the exchange the signal was detected on, the “level” of the signal (higher level = stronger signal), the detected price vs. current price, and how long ago the signal was detected. Click on a signal to be transported to the Trading tab screen for that particular exchange and coin pair.
According to language on their website, Bitsgap defines a price event as being worthy of “signal” classification as such:
“When the price of a coin is starting to show an anomaly out of pattern which forms an upward trend, we add this entry into our signal list. To verify the trend we are using numerous indicators and models before considering any rapid move as a trading signal.”
Arbitrage
Arbitrage trading is the strategy of buying a coin for a lower price on one exchange and selling it for a higher price on another. It has long since been the “bread and butter” of Bitsgap, and while it may seem like easy money, it is a lot trickier than it sounds. Because it is difficult and requires some degree of experience, the Arbitrage option is only available to those with the Advanced or Pro upgrades.
Bitsgap Arbitrage feature generates a list of potential arbitrage opportunities calculated across the 30+ exchanges supported by the platform, arranged by order of potential profitability. It requires that users have decent-sized balances of coins across multiple exchanges all linked to Bitsgap via API. Potential arbitrage opportunities are calculated according to the account balances on the involved exchanges, allowing users to select crypto or fiat opportunities.
Conducting automated arbitrage through the Bitsgap platform is a far superior method to attempting to do it manually. This is because arbitrage opportunities are spotted quickly and trades on both exchanges conducted with just a single click.
Portfolio
This tab allows users to view the entirety of the crypto and fiat holdings across the breadth of exchanges linked to Bitsgap via API. Holdings can be shown either by coin or exchange. Open orders and order histories can also be viewed across multiple exchanges.
My exchanges and Demo feature
This is where a list of user exchange accounts connected through API are shown. In the upper-right corner is a button that says “Switch to demo”. By clicking this, users can activate the Demo feature which will allow them to practice using all of the previously mentioned components of the Bitsgap platform, for free. Demo accounts start with 1 BTC on 11 different exchanges which can be used to make trades, activate bots, capitalize on signals, or even conduct arbitrage.
There’s probably no better way to understand and familiarize oneself with all that Bitsgap has to offer than by practicing with the Demo feature.
Registering on Bitsgap
The registration process for Bitsgap is quite simple and only requires the verification of an email account. Alternatively, users can connect via their Google or Facebook accounts. New accounts come with a 14 day free trial in which several features can be used free of charge. The next step to take will be linking accounts on exchanges to Bitsgap through entering in the API Key and Secret Key provided by each exchange. Remember: so long as API settings do not include “enable withdrawals”, it is impossible for Bitsgap to withdraw your funds (exchanges do not include this by default).
Exchanges used by Bitsgap
Bitsgap currently supports API connections with over 30 exchanges, and they are steadily adding to this list. Below is a list of a few of the major exchanges used by Bitsgap.
Bitsgap subscription pricing
After the user’s 14 day free trial has expired, there are several options available to continue using the platform, including a free account with limited trading options. Subscription models include:
Basic ($19/month). Access to standard features with a $25,000 monthly trading limit.
Advanced ($44/month). Access to extended features including automation and arbitrage with a $100,000 monthly trading limit.
Pro ($110/month). Unlimited access to all Bitsgap features and an unlimited trading limit.
Summary Bitsgap is a revolutionary cryptocurrency trading platform that offers its users a wealth of options that simply aren’t available through similar operations. Highly intuitive and sleek in design, Bitsgap allows for a near infinite amount of trading possibilities thanks to its ability to unite an unprecedented number of top cryptocurrency exchanges all under one roof. Advanced trades can be made safely, securely and instantly, removing the hassle of having to log in and out of multiple exchanges, saving time and maximizing profits in the process.
