Do you like speculating on coins and see which goes to the moon and which ones plummet? If you are like me and if you are serious about playing the market and want to make your cryptocurrency speculating to be easier, I just discovered this new service called Bitsgap that offers automated trading bots.
As you all know, we can’t be all full-time traders, so this nifty site is a gift to people who want to maximize their profits while not in front of a terminal. This will also be a journey for me as I try and document everything to get started. Bitsgap will be the first bot service that I am going to test, but I plan to run some other solutions in the future, to compare them and choose the best one.
Diving right into the action
Since I want to make the most of what I currently have to trade with, I am just gonna go ahead and get the PRO plan that they offer. This subscription tier offers me the best bang for my buck. If I want to be able to get my value for my money, I might as well go for the option that gives me the tools I need to get started in the right direction.
By the way, this also offers cryptocurrency arbitrage trading. It is somewhat for the advanced speculators, and I currently have no time to learn the finer points of it so I am not gonna touch on that subject. I am here merely for the trading bots.
For this journey, I am going to be diving in with the amount of 0.4 BTC and see how much profit it earns me in one month. Since I have funds on my Binance account, let’s go with that. This account will only be used for bot trading and nothing else.
Might as well buy some BNB while I’m at it since I will be trading pretty heavily with the use of these bots, so paying the fees using Binance’s own coin will save me money in the long run. After all, that’s what I am really after, to make a profit.
The interface is pretty easy to navigate, to be honest. It’s not clunky like what I see on the Binance site. Also, I do see some of the pairs that are being offered on the panel displayed on the right side of the bot platform. I will be using these profit predictions as the basis of my trading.
Now I have set the first pair that I want to trade-in based on their own backtest algorithm, which I did not try to alter much as I want to see how their trading bots really work.
I will be using all of the 15 trading bots that they are offering on the PRO plan, and distribute all of my deposited BTC on these 15 pairs.
Now that everything is set, all I have to do is just give it a week and just monitor the progress. There’s nothing left to do here but wait patiently.
My Binance wallet also shows all of the coins I recently bought with the trading bots I just set up. It’s nice to see that the records reflect on both platforms.
My total balance now started to move as well, this will be the main indicator of trading bot success. The main goal of this campaign is to grow my BTC balance.
Now all of you are itching to ask me are “What is the point of all of this?”
And to that question, my answer would be the convenience that this service offers. Sure, a lot of you might be able to do it even without the use of trading bots. However, I actually do not have the luxury of being a skilled trader to navigate around and do actual trades myself since I have a full-time job.
And since the crypto market is volatile, I do miss out on a lot of opportunities to be able to make some profit back. I just don’t want to bag and hold my coins without any interest coming back to me. Signing up for this service actually addresses the issue of me not being able to maximize my efficiency since I usually long hold my coins.
This is a new avenue for me as I would like to go into day trading, but as I said earlier, I do not have time to learn all of the finer details in day trading. So I’m going to jump the gun and try the tool that is being offered right in front of me.
Just so you know though, I have no way of knowing if I am going to be profiting from this endeavor or not. I will be checking the results weekly to see if I make some money back or if I am just losing. I might move some cash around depending on the weekly those results.
So is it worth the risk? Well if you ask me, I have no way of knowing for sure. As for where it stands, I just started using this service. It might be a stroke of genius, or it will lead me to my downfall, but right now I do not have concrete answers.
I’ll let you know in a week’s time on the results of the coins that I speculated. If it ends up with me getting enough to cover the monthly service fee and then some, then I have absolutely no reason to stop using the bot.
Who knows, if this service becomes the goose that lays the golden eggs for me and continuously make money, I might invest more money in it to be able to see a bigger profit margin. After all, who does not like earning money, right?