In the world of cryptocurrency trading, many automated bots enjoy a boost in popularity from time to time. However, not all of them stay consistent on this trajectory and many fall off the grid after a short spike in their hype.
Bitsgap and Pionex stand out as two of the most consistent cryptocurrency trading tools that have been garnering exposure since the time of their launch. While both of these solutions are different from one another, their intense attachment to the cryptocurrency trading scene often earns them side by side comparisons from digital asset traders.
If you are in the market for an automated trading platform, you might be interested to learn more about either of these solutions. To help you through the process, here’s a comparison of Bitsgap and Pionex bot platforms in order to help you pick the right fit for yourself.
💡 Reputation
Bitsgap is a cryptocurrency trading bot platform that connects to other exchanges for buying and selling activities. This means that you can use Bitsgap’s bots with a host of other platforms. Due to this approach that covers widespread exchanges, the solution appeals to the customers of these exchanges and holds a renowned status in the crypto industry.
Bitsgap’s popularity can be gauged by how many people are aware of it. If you have been attached to the cryptocurrency industry for a while, you may have already heard about Bitsgap through online discussions, ads, or even passing mentions. This phenomenon is especially noticeable if you have been garnering information regarding crypto trading through automated solutions.
On the other hand, Pionex is a cryptocurrency exchange with its own built-in trading bots. This sets it apart from other exchanges such as Coinbase and standalone bots such as Bitsgap. Instead, this approach makes it a hybrid solution that comes with both functionalities built into a single platform.
But despite the added functionality, Pionex does not have the same kind of popularity as Bitsgap. The platform is only known by a select segment of the cryptocurrency industry that happens to be heavily attached to automated trading. If you speak to new traders who have recently started with buying or selling cryptocurrency, they might not know about Pionex. But if you happen to pose the same question to seasoned traders, they will identify the solution right away.
This gives points to Bitsgap for reputation and for being more renowned than Pionex is at the moment. But given that Bitsgap works with different exchanges while Pionex is an exchange and bot solution wrapped within a single platform, only comparing the platforms’ reputation doesn’t prove that one solution is better than the other. In order to determine the efficacy of each service, you need to look at aspects that go beyond overall recognition itself.
TOP TRADING BOTS
⌛ Time in Business
Launched in 2017, Bitsgap has spent nearly half a decade in the cryptocurrency industry. This extensive duration has allowed the automated trading bot service to obtain stellar recognition and build a community around its solutions. It also gives Bitsgap a headstart on popularity, especially through users who have already utilized its solutions. This also provides Bitsgap with a certain sense of reliability that can only come with spending such an extensive duration in a specific industry.
On the other hand, Pionex was launched in 2019. This puts it a little behind Bitsgap in terms of experience. It is also one of the main reasons why Pionex is less popular and has less outreach than Bitsgap. With that being said, the solution still has its own reliability due to operating for over two years and working as an exchange with a high trading volume. During this time, it has also obtained its own fan following that sings praises of its service left, right, and center.
In terms of direct comparison, Bitsgap wins this round due to having more time in business as well as enjoying the perks that come with that experience. But if you are looking at more factors than simply time spent in the industry, you can consider other aspects of both platforms. This provides you with a chance to compare more than the age of each cryptocurrency solution.
💰 Packages/Prices
Bitsgap and Pionex both come with different pricing models in tow. This provides you with some flexibility in terms of choosing their solutions according to your requirements and budget alike.
But in order to determine which one has a better value proposition, you need to take a look at the specific pricing details. This provides you with a better assessment of the service as well as its suitability for your needs.
Bitsgap Pricing Details
Operating as a standalone cryptocurrency bot that connects to third-party exchanges, Bitsgap has designed its packages as monthly subscription models. These packages come in three different tiers, with each one providing connections to all available exchanges under the platform’s banner.
Since these packages can change at any moment, it is better to check Bitsgap’s pricing page directly. But to give you an idea, the paid packages start from $29/month and go up to $149/month at the time of writing. It’s also prudent to note down that any exchange fees that are charged for trading activities go on top of these costs.
Pionex Pricing Details
Since Pionex is an exchange and cryptocurrency bot hybrid, its pricing model is different from Bitsgap. As such, it does not charge you for the free trading bots at all. But it does require you to have an account and pay a fee on every trade made on the platform. In addition to this, you also need to adhere to the withdrawal fee whenever you are trying to make a withdrawal through the exchange.
These charges are basically the same trading fees that apply through other exchanges if you use Bitsgap with them. That is why, while there is a long list of fees on the Pionex pricing page, its basic fee for trading simply stands at 0.05% per successful trade. Since Pionex has the same percentage in its maker/taker model, this makes the calculation more straightforward.
Side-By-Side Comparison
In terms of pricing, Pionex takes the cake by offering free trading bots with its own exchange platform. However, these trading bots are restricted to the platform alone.
On the other hand, Bitsgap offers a comprehensive solution that could connect with multiple exchanges. But it delivers its trading bot services at the monthly fee outlined above.
This means that if you don’t have any problems with opening a new exchange account with Pionex, you can choose its free trading bot solution. But if you already have an account with another exchange, choosing Bitsgap can give you a simple solution that also works with many popular exchanges at once.
⚙️ Strategies
Bitsgap comes with a variety of strategies that stem from its already available bot categories. These strategies provide you with a multifaceted approach and let you make the most out of your buying and selling efforts.
These strategies are also bundled into the following popular bots, but you can also pick and choose mechanisms in different bot strategies such as the grid bot.
- SBot Bot. This grid strategy transacts a fixed volume of your quote currency.
- Classic Bot. This grid strategy trades a fixed amount of the base currency.
- Combo Bot. This strategy uses grid and DCA algorithms for futures trading with Binance.
On the other hand, Pionex also brings multiple trading bots to the table. These trading bots also make use of popular mechanisms and allow you to buy and sell cryptocurrency for maximum profit.
These bots include but are not limited to the following options.
- Grid Trading Bot. This uses the same strategy with order and value divisions as mentioned above.
- Arbitrage Bot. This strategy looks at the futures market and makes automatic returns ranging from 15-50 percent APR. The investment and profit vary, but you can start from as low as $50.
Apart from these major distinctions, Pionex does offer basic trading mechanisms. But they pale in comparison to Bitsgap’s more comprehensive and hands-on approach to trading. This means that Pionex provides you with a lesser level of control as compared to Bitsgap itself.
With that being said, Pionex’s offering of passive profits through arbitrage does make it stand apart from Bitsgap in this regard. However, that may only appeal to you if you don’t want to control your buying and selling and just want to earn profit through investments. Since the arbitrage bot is marketed as low-risk, its profits also stop at 50 percent.
👌 Exchanges Supported
The comparison of supported exchanges for Bitsgap and Pionex provides you with a very short yet very clear winner.
Since Bitsgap is a fully-fledged cryptocurrency bot, it supports over 25 cryptocurrency exchanges that include the following popular platforms.
- Binance
- OKEx
- KuCoin
- Kraken
- FTX
- Bitfinex
- Huobi
- Coinbase Pro
- Bittrex
- HitBTC
- CEX.io
- Poloniex
- Bitstamp
- Coinbene
- Gemini
- Gate.io
- Liquid
- LBank
- TheRockTrading
- EXMO
- Bit-Z
- Bithumb
- Bibox
In comparison, being the in-house solution for the Pionex exchange, Pionex’s trading bots only support the Pionex trading market.
This means that if you pay for Bitsgap’s cryptocurrency bots, you also get to benefit from its bots across multiple platforms. On the other hand, using Pionex for its free bots comes with its limits and leaves you with utilizing only Pionex’s own platform for your trading activities.
👨💻 Customer Service
Bitsgap’s customer service comes in the form of a live chat solution that is accessible on the website. During business hours, the multilingual system that offers support in English, German, and Russian is fully active. Out of business hours, it requires you to leave your message with an email that is typically answered within a day.
Bitsgap also has an extensive knowledge base that comprises helpful articles to support you through different questions and inquiries. With it, it also maintains a presence on Telegram, Facebook, Twitter, and BitcoinTalk if you need other methods of contact.
Pionex also has a live chat support system that works in a similar fashion to Bitsgap. However, the supported languages in the platform’s knowledge base are different and comprise Korean and Mandarin.
Apart from its website, Pionex maintains its presence on Telegram, Facebook, Twitter, Discord, and Reddit. This provides you with different ways to contact the bot if you wish to do so.
This makes both platforms stand side by side in terms of customer support. Both of them also have dedicated community support on the respective channels, which makes it easier for you to find unofficial help if you need it.
📢 Overall Experience
Overall, Bitsgap works exactly as a standalone automated cryptocurrency bot should and offers extensive functionality against a variety of exchanges. In comparison, Pionex also stays true to what it offers and gives you free trading bots to use with its own platform.
With that being said, Bitsgap does provide the crypto bot experience in a truer sense. This means that if you are looking for a trading bot solution that does not restrict you to a single exchange and also has extended functionality, then Bitsgap is the way to go. Otherwise, you can select Pionex as an exchange that has cryptocurrency bots as a value-added service for its own solution.
But remember that each individual has their own style, preferences, and wants. You must first figure out your needs and then make the necessary changes and additions from there. If you are able to start out with your wants and needs, then you can certainly choose what is best for you.
Some people may choose to try out both for a while and then make a decision. Remember that it is entirely up to you how you decide to go about it.