Bitsgap vs Cryptohopper bot comparison 2022
If you are cautious and unsure whether you want to take up an automated trading bot, we don’t blame you. The market is packed with fake bots that are designed to steal money and sensitive data from you. We must accept the fact that fakes are even more numerous than legit bots.
However, this fact should not bring you down because the market is also full of real opportunities, and good bots that can serve you well and enhance your profit. This article will provide you insight into two popular bots, Bitsgap and Cryptohopper. We will compare them in terms of similarities and differences, and rate them based on relevant criteria, such as security, usability, support, and so on. We hope you will understand what’s best for your needs after reading this.
Comparison of crypto trading bots
1. Bitsgap vs Cryptohopper: Security
Bitsgap is used by hundreds of millions of traders and its community believes in this grid trading bot. It starts building your trust with the fact that it does not hold your money and has none of your possessions. It connects to crypto exchanges via an API key, and it is only in touch with your assets when it sends messages to their location. It cannot withdraw your funds on its own.
Albeit a smaller community, Cryptohopper still has hundreds of thousands of traders and a very active and satisfied community. It boasts many crypto exchanges as its partners, and the company’s background checks out. Two-factor authentication is one of the standard proven measures they have in place.
2. Bitsgap vs Cryptohopper: Usability
When choosing a bot, always look for one that supports multiple exchanges. In our case, both bots satisfy this criterion. According to SourceForge and a few more reviewers, the number of exchanges is almost the same with both bots, while Altrady’s review claims that the more popular Bitsgap is much better in this regard. In any case, we’ll call it a slight edge for Bitsgap. It supports more mainstream and prominent names such as Binance, Kraken, Ftx, Coinbase Pro, and other digital asset trading platform options.
Both bots have great coverage of payment methods (Visa, MasterCard, PayPal, iDEAL, bank transfer, Giro Pay, and a lot more), and accepted cryptocurrencies (over 50), so we will call this one a tie.
In relation to the platform coverage, Cryptohopper is still only a web service, while Bitsgap is also available for iPhone, Android, Windows, Mac, and Linux. This aspect brings a decisive win to Bitsgap.
3. Trade automation scope
Bitsgap is an automated crypto trading bot with a lot of intermediate and advanced trading features. It offers multiple grid bots, which allow you to take advantage of small differences in the market and collect instant profit, which is ideal for short-term traders. It also offers arbitrage bots, which exploit price differences across platforms and collect a profit that is tiny, but should be guaranteed.
However, the most advanced feature of Bitsgap is the advanced future trading bots. They use sophisticated AI and encompass various factors, such as social media trends, to predict future prices. The process is fully automated but there are numerous options for manual intervention, and arbitrages are semi-automatic, which makes Bitsgap great for advanced users’ trading strategies. To learn more, visit Bitsgap review.
Cryptohopper is a fully automated trading bot that offers three types of bots: Market maker bot, arbitrage bot, and copy bot. Market maker bots function similarly to grid bots, and we explained arbitrage bots above.
As for copy bot, it listens to the instructions of a Cryptohopper signaler. You can buy copy bot templates from Cryptohopper, select “signals only”, pick a coin and run the bot. Although it is simple and easy to use, it isn’t very accurate and consistent. Automated technical bots are for advanced users, but copy bot is suitable for new traders. If we consider automation only, Cryptohopper is more automated, but Bitsgap has more features. We will call this a tie. If you want to read more about its features, visit Cryptohopper review.
4. Demo account
Both crypto bots have the option to practice on a demo account. Bitsgap lets you try out all the features before investing your money. The same goes for Cryptohopper.
The users are mostly satisfied with the demo function. That being said, some report that Bitsgap’s advanced package does not have enough demo bots. It still offers more, though.
5. Free trial option
Both bots have a 7-day free trial available, so they both get a passing grade here. Also, the users report that the trials are both legit and in line with the options promised in the deal.
Still, there are notable differences in the features you get with the two trial versions. Bitsgap has an advantage here because it offers a free trial for all packages they have. So, you can use the most expensive, pro version for seven days and experience all the advanced features.
On the other hand, Cryptohopper’s trial only gives you the benefits of the explorer program, which is level 2 out of 4 levels. You still miss out on features such as arbitrage intelligence, having all coins available, and arbitrages.
Again, both crypto trading bots have a backtesting option. This means your strategies are put to the test on historical data, and you can see the hypothetical profits or losses. Bitsgap has reliable bots for this, and the users are quite satisfied with them.
For Cryptohopper, the process is almost the same for your trading strategies. There is a drawback of somewhat more limited functionality because backtesting here is based on paper trading, so it is not actual crypto trading market results.
7. Customer support and tutorials
Bitsgap has a help center, a live chat option 24/7, and a support email. Users mostly report great customer service and fast response times. On the other hand, Cryptohopper has a support phone number in addition to the live chat, as well as the option to open a support ticket on their website. However, their live support is not 24/7.
In relation to tutorials, Bitsgap offers live online training, documentation, webinars, and videos. Cryptohopper provides training in the form of documentation. There is also a recent Cryptohopper Academy and a helpful Facebook community. This is a slight win for Bitsgap.
We cannot provide a number figure, as profits always depend on the trader’s skill and strategy. We can talk, however, about profit potential. Fully automated trading with Cryptohopper does not always mean a better bot, because sometimes a semi-automatic bot allows users just enough autonomy to make profitable manual moves.
For arbitrage on Bitsgap, you need to click trade for each individual profitable arbitrage detected. This makes the investments more steady and secure on one hand, but on the other hand, it slows down the profit-making pace.
Both bots have satisfying profit potential and we rate them both 90%.
|Minimum deposit||Payment options||Pricing||Supported exchanges|
|Bitsgap||250$||numerous payment methods,80+ cryptocurrencies||29$ per month||includes more popular exchanges|
|Cryptohoper||250$||numerous payment methods,50+ cryptocurrencies||19$ per month||includes some of not so well-known but still legit exchanges|
Cryptohopper is a good grid trading bot, and is also useful for arbitrage and copy bot trading. It has many automated trading features for crypto traders with different levels of experience and trading strategies.
Yes, they are both legit, as there are no malicious intentions on the creators’ part.
Yes, Cryptohopper is an all-in-one, fully automated trading bot.
What is the best crypto trading bot: Bitsgap or Cryptohopper?
This is not an easy question, as both have a lot going for them. They support multiple exchanges, have versatile features, and numerous satisfied users. If you are an advanced user and don’t mind paying more, go for Bitsgap. On the other hand, if you want to go for a fully automated and simple solution, you can start with Cryptohopper.