BitFit is a high-powered cloud crypto trading software that enables investors to take advantage of crypto market fluctuations. The software is able to do this by implementing an advanced algorithm that continuously scans the markets in search of just the right market conditions for a profitable trade. Once a proper trade setup has been identified, the software will automatically execute the trade using your trading account.
Once you have registered your account, the BitFit bot will be ready for trading cryptocurrencies on your selected exchanges. All you will have to do is set the trading parameters to fit your own financial goals and your personal risk tolerance. After that, the trading bot will do the rest of the hard work for you. The software will either execute a trade right away or it will wait for the desired technical indicator signals, depending on how you have set your trading parameters.
Many traders appreciate the extra order feature on the BitFit platform. With this feature, the first order will be executed for the amount specified in the trading parameters. After the first order has been executed, the automated software will place a take-profit order in addition to a few extra orders. The take profit order will be at the percentage level that the user has indicated. When the price of the market moves against the trade, an extra order is executed. The level of the take profit order will also be reduced. The extra orders aim to capitalize on price changes and to adapt the trading strategy in accordance with changing market conditions.
The platform allows traders to choose between a grid-style trading strategy or a dollar-cost average approach. With a grid strategy approach, the software will take profit on each market position separately. On the other hand, a dollar-cost average will attempt to take the average of a series of market positions in order to provide an overall profit, even if some of the positions are closed with losses.
The registration process for BitFit is streamlined and easy to navigate. It should only take you a few minutes before you are ready to start trading the cryptocurrency markets for profit. There is no fee charged for registering a new account and there are none levied for making your initial deposit. However, you will need to have an account with a cryptocurrency exchange or broker to connect to the BitFit bot. Some of the exchanges and brokers which the BitFit software is compatible with include, Bitfinex, Binance, Bittrex, HitBTC, Upbit, and Huobi. The software Wizard feature is designed to guide you through the process to register and start trading. Various templates provided will help you to start trading the cryptocurrency markets right away.
Below we will review all of the different aspects and features included with the BitFit software.
Who Is BitFit Suitable For?
It does not matter how much prior experience you have in trading the financial markets. Beginners, as well as expert traders, will be able to easily use the BitFit software to enhance their trading results. Since the BitFit algorithm will do almost everything for you, there is no need to have any special education or knowledge of financial markets or cryptocurrencies. The algorithm will scan the markets continuously using historical price data and technical indicators in order to pinpoint lucrative trading opportunities. When an opportunity is identified that fits the specified trading parameters, the software will execute the trade on your behalf.
Even professional traders who are already successful can still find BitFit to be worthwhile to implement into their overall trade portfolios. The BitFit software can help experienced investors diversify away from their other trading strategies and market positions. Diversification is an essential method for minimizing risk and BitFit can help with this objective.
Rating – 7/10
BitFit Unique Features
BitFit offers traders a variety of unique features which can be advantageous. First, the software is highly customizable. You can select trading parameters that will fit your preferences and your trading goals. Traders can also opt to use both long and short strategies at the same time. This means you will be opening trades in both directions of a cryptocurrency market, depending upon the changing circumstances.
You can also choose a grid-style strategy or a dollar-cost average approach. The grid-style strategy will have the algorithm take profit for each market position separately. The dollar cost average approach will enter another position as the market moves against the strategy with the goal of ultimately having all of the positions total a profit when they are eventually closed out.
A menu of technical indicators is also a valuable feature that many BitFit users find advantageous for their trading endeavors. These indicators help to make sure the software enters a trade at the right time. Some of the technical indicators included are MACD, RSI, and Bollinger signals.
BitFit is committed to providing you with the best possible trading experience. This is why BitFit provides responsive customer support 24 hours per day, seven days per week. The support representatives are well-trained and knowledgeable about the trading platform as well as the financial markets. The responsive support team can be reached via email or Telegram with any questions or concerns which may arise while using the BitFit software.
For convenience, BitFit is also accessible through a mobile app. This allows you to monitor your trading activities and manage your account while on the go. The mobile app can be handy for those who are working a day job or are always traveling.
Rating – 6/10
Fees
BitFit has made it quite affordable to access the software’s powerful trading algorithm. There are no fees charged for registering for a new account and there are no charges levied for depositing and withdrawing funds. However, your banking institution and chosen cryptocurrency exchange may levy fees.
The lowest tier account with BitFit is completely free to utilize. This level account will allow you to have two different trading bots at a time. You will be prohibited from creating new bots if you already have two bots. Also, your trading volume will be limited to $3,000 per month.
The next level account is the Basic plan which provides you with a maximum of 49 bots for only $20 per month. However, if you purchase a whole year in advance it will only cost you $14 per month.
The HitBTC Promo plan allows 49 bots for $30 per month. Purchasing an entire year upfront of the HitBTC Promo plan will bring the cost down to $21 per month. Of course, you will only be able to take advantage of this particular plan if you have a trading account with the HitBTC cryptocurrency exchange platform.
The Maximum plan will give you unlimited trading bots for only $60 per month. Paying annually will bring down the cost to only $42 per month for the Maximum plan.
Overall, the amount you pay is generally well worth it when you look at what you receive. Compared to other similar trading software, for the price charged, BitFit is quite competitive.
Rating – 6/10
BitFit User Experience
The trading experience with the BitFit platform is relatively user-friendly. The platform seemed to be quite responsive. The features were easy to locate and simple to adjust to customize the trading activity to fit your personal financial goals and tolerance for risk.
The software provides a variety of useful technical indicators which are well-designed and intuitively displayed on the screen. These powerful indicators enable the algorithm to more precisely choose when to enter and exit trades for maximized profitability while also minimizing potential losses.
Also, BitFit ’s automated settings are highly customizable. You can choose between using a grid strategy or a dollar-cost average strategy. Each type of strategy has its own advantages and disadvantages. Additionally, you can modify trade parameters in order to specifically cater to your own financial goals and tolerance for risk.
The platform seems to perform in a responsive manner. There was little to no sign of latency when executing trades and scanning the exchanges and markets. We did not experience any kind of glitches during our test run of the BitFit automated software.
The mobile version of the BitFit software functions well and retains much of the capabilities of the web-based version. BitFit ’s mobile app makes it easy for you to keep track of your current market positions and to monitor your ongoing trading activities. You can even adjust trading parameters from your mobile device.
Rating – 8.5/10
Where Can You Use This Platform?
In order to take advantage of the BitFit automated trading software, you will need to have an account with a cryptocurrency exchange or a broker that is compatible with the software. The exchange or broker platform will provide you with access to the cryptocurrency markets. The BitFit application will be integrated with the cryptocurrency exchange or broker platform. There are a variety of cryptocurrency exchanges and brokers that are compatible with the BitFit automated software and they are listed below:
HitBTC – Founded in 2013, the cryptocurrency exchange offers access to more than 800 trading pairs and spot trading for more than 500 tradable instruments. The exchange provides cold storage custody services and also offers a rebate program for market makers. Also, HitBTC provides a highly secure platform by integrating the latest in security technology which keeps the platform safe for everybody.
Bittrex – Three cybersecurity engineers launched this exchange in 2014. The platform provides fast trade executions as well as top-notch security protocols to keep your funds safe. Also, the exchange prides itself in supporting the latest cryptocurrency markets with the aim of driving innovation in the advancement of blockchain technology.
Rating – 7/10
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Demo Trading Account
BitFit offers a free trial of their software. You simply need to register an account and you gain free access to a Minimum Account. Here you will have access to 2 Bots and a trading volume of $3,000 a month. The free trial is an excellent way to test BitFit and to evaluate if this trading software is right for you.
Rating – 6/10
Pros and Cons
BitFit offers traders a variety of advantages as well as disadvantages. The following details the various pros and cons of selecting the BitFit software to trade the cryptocurrency markets.
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Customer Support
BitFit has trained its customer support team quite well. The representatives are always courteous, responsive, and eager to help you find solutions to any problems or issues that you may encounter while using the trading platform. The customer support department is available 24 hours per day, seven days per week. The team can unfortunately only be reached by sending an email or through Telegram.
Rating – 6/10
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Summary
The BitFit automated software is a solid trading bot with numerous useful features. BitFit provides an exceptional trading experience overall. The platform interface has been designed to be as user-friendly as possible. Even those with no previous trading experience will be able to easily figure out how everything functions and where all of the features are located.
The accuracy rate of the trade signals provided by the BitFit algorithm is solid. You can be sure your risk of loss will be significantly minimized with these quality trade signals. Also, the platform is responsive with hardly any latency which means better price fills and ultimately higher profit margins.
The mobile app version of the BitFit platform provides you with the convenience of being able to trade while not in front of a computer screen. You can monitor your market positions and set trading parameters through your mobile device. This can be helpful for many people who may not always have access to a computer. Also, the mobile app version is able to preserve much of the functionality of the web-based version.
You also have a decent number of cryptocurrency exchanges that you can choose from that are compatible with the BitFit platform. Having a wide array of choices for exchanges allows you to choose an exchange that has the features you are looking for from a cryptocurrency exchange. By not limiting your choices, you will be more likely to have a positive trading experience with BitFit.
During our test of the BitFit software, we found the customer support department to be helpful in finding solutions to our issues and questions. The customer service representatives were courteous and responsive to our concerns. However, it would be better if you had the option of contacting them via telephone. As of now, you can only contact the customer support department through email or Telegram.
In conclusion, the BitFit crypto bot is a decent choice for trading the cryptocurrency markets. Since it doesn’t cost any money to register for an account with BitFit, you may want to first try it out to see if it works for you. The Basic plan is free to access, making this a good option for you to just try out BitFit to see if it meets your trading needs and preferences. If you feel that the platform can be helpful to your trading goals, you can upgrade to the higher tier accounts which will provide you with more features and functionality.
Overall Rating – 7/10
