What makes Bitsgap safe to use?
In the light of recent SCAM project L7, some users have been asking us in our telegram chat: "Why Bitsgap is safe to use and how is it different from the recently announced L7 arbitrage SCAM?" In this post we would like to describe why you can be sure that Bitsgap is safe to use.
SCAM projects and any other Ponzi schemes always have some things in common:
- There is always "magic" involved in how you make money, and you are not able to check how exactly you got profit;
- In many cases, this kind of projects guarantee a fixed income or mountains of profit. Unfortunately, it is impossible to make any guarantees in a niche like cryptocurrency;
- Scam projects hide information about their team, do not officially tell about themselves, or it is impossible to prove that people behind the project are real;
- In most cases, this kind of companies are based in offshore zones;
- Besides, this kind of scam projects ask you to deposit money to their accounts, and in the end, they have full control of your funds.
BITSGAP is built other way around and gives you maximum safety and clarity:
- There is "NO MAGIC" - just pure math and algorithms:
- Every Arbitrage opportunity can be checked directly on exchanges (simply open 2 exchange tabs side by side and compare the rates).
- All bot operations are tracked and appear in your exchange trading account. Besides, you can always export data in CSV to check every digit you see.
- You can see our team on the Team page. We are real people with a long history working in different crypto, marketing and other IT projects;
- Bitsgap is an Estonian based company, you can see this in the end of our website, and all information can be checked in the official government sources;
- We DON'T guarantee any fixed income. All our projections / backtests are based on historical data which happened in the past. Of course, things can go in the opposite direction which nobody can control, so we provide you with tools like Stop Loss, so you can save your funds from this kind of unpleasant situations;
- We don't have ANY access to your money, and your funds always remain on exchanges. Additionally, we only accept API keys that don't have a withdrawal option enabled.
- Every exchange data you add is encrypted inside your browser with a 2048-bit standard protocol (which is safer than most of the online banks). This encrypted information goes to our servers where even our developers don't have access to your decryption keys;
Hope that brought a bit more clarity about the main principles of Bitsgap.