Crypto Traders Want Jack of All Trade Platforms and They Just Found One
Crypto trading and blockchain itself, much like every other fintech product in the world, has kept evolving even if most people don’t notice. The standards for a good trading system and platform have changed compared to 2017. There are now new ways to release coins compared to ICOs in the mid-2010s. Even the traders themselves have taken a new approach to trading their assets. All of this is slowly being taken into account by the platforms themselves, therefore forcing them to change.
But what exactly are traders looking for in a platform? Well, there are around 6 different topics. These are:
- No fees
- Accurate signals
- More options than just going “long” or “short”
- Easy tracking system
- A foolproof way of testing strategies
Even though most trading platforms have ticked some of these boxes, very few of them have ticked all of them. This is why traders are now starting to actively flood through the gates of Bitsgap, a relatively new crypto trading platform. This platform ticks all of the boxes outlined above.
How Crypto Traders Found Comfort on Bitsgap
The fact that Bitsgap trading bots managed to satisfy the most important needs of their traders is evidence enough to show how this platform managed to reach success, but according to the founders, there was more that could be done.
Bitsgap is one of the few trading platforms that has its own trading bot, which is just a feature and not the main product. Many companies have tried to provide the same services, but failed due to an exaggerated focus on just one product, while Bitsgap managed to diversify.
According to the founders of the company, here’s how they managed to tick the boxes outlined above:
- No fees – a connection to all crypto exchanges
- Automation – a cream of the crop trading bot
- Accurate signals – daily signals on dozens of coins
- More trading options – providing arbitrage
- Tracking – imported data from most trading platforms
- Testing strategies – demo account
And this is just the surface of what Bitsgap managed to scratch and satisfy the needs of its traders.
Right on Time for Massive Changes
The introduction of this relatively new way to trade cryptocurrencies (where all the tools are gathered on one convenient platform) comes just in time for the Chinese government’s roadmap of blockchain-ing the country in the near future.
The Ministry of Industry and Information Technology published a roadmap of blockchain development in China on June 7th, detailing how and where the agency will be looking into more blockchain integration.
It is very likely that platforms that meet the needs of this goal will be the top priority of not only governments but larger private companies trying to penetrate local markets.
To take a closer look at the document, we can immediately see that traceability and data sharing are the most important subjects, putting Bitsgap firmly within these requirements.
Perfect For a Volatile Market
Furthermore, as the market continues to tumble in early June, platforms like Bitsgap have managed to dominate a very specific niche market, day traders. People are now trying to maximize profits as prices become slightly more predictable on the microscopic level. Trading bots and signals are being flooded by desperate day traders who either want to save what little they have left or try and enter the market as early as possible.
However, most companies, including Bitsgap are starting to warn their traders that the market is currently extremely unpredictable due to massive sell-offs from whales. These whales include large corporations (who already sold off their supply) and miners (who sold off their supply in the second week of June).
The Giant Awakens
The capacity of crypto trading is also being called into question now as India legalizes crypto trading in the country, potentially introducing tens of millions of traders to the market. Even though the volume may not be as high as other countries, Indian traders are pretty quick on their feet to register on various platforms, thus increasing the strain on the bandwidth.
Therefore, many traders would be looking for smaller or more exclusive platforms besides large ones like Binance or Coinbase. However, they would be looking for ones that have similar or near-identical features as these large exchanges. Platforms like Bitsgap may become the new middle-level platforms of the crypto world, similar to how brokers act the same way in stocks and forex.
So all in all, platforms like Bitsgap, that have managed to consolidate all of these useful features on one handy website are believed to be the near future of crypto trading. At least to a point where the current upgrades in the trading methods require yet another one. This is likely to happen once Ethereum 2.0 is out and about. Why? Because it promises to completely change the landscape of ETH trading, which is predicted to outpace BTC in the long run.