Economy
In-depth Bitsgap Review 2023 | Main Features, Benefits, And Drawbacks
Founded in 2017 by a passionate team of private traders, security experts, and marketers, Bitsgap is a young Estonian cryptocurrency intermediary platform. Their vision was to develop a versatile platform that enables traders to trade on multiple crypto exchanges simultaneously.
According to the Bitsgap review published by TU analysts, users can access 20 global exchanges, empowering them to adapt to real-time market conditions. Additionally, traders can utilize specialized bots catering to various trading styles and tasks.
Pros and cons of Bitsgap
Traders Union provides a comprehensive assessment of the benefits and drawbacks of using the Bitsgap trading platform.
Pros:
- Over 600 cryptocurrency pairs are available for trading.
- Multiple tariff plans with varying subscription rates, with the option to reduce costs by paying 6 months in advance.
- No trading commissions or additional fees for deposits and withdrawals.
- Bot trading is allowed without extra commissions.
- Integration with more than 20 leading crypto exchanges.
- Access to a 7-day trial version of paid plans without needing verification.
- Utilization of a functional trading platform based on TradingView.
Cons:
- Absence of leverage trading option.
- Lack of a license from a reputable regulator.
- No online chat or phone support is available.
Expert review of Bitsgap
TU experts acknowledge Bitsgap as a unique trading platform that allows traders to combine multiple crypto exchange accounts into a single interface. Here are the key features highlighted:
- Automated trading: By paying a monthly fee, traders gain access to bots that enable the automation of the trading process.
- Extensive trading options: With over 600 available trading pairs, Bitsgap caters to beginner and experienced traders.
- Trial versions: Users can enjoy free trials of any tariff plan for 7 days, allowing them to explore the platform without commitment.
- Custom web terminal: Bitsgap offers a user-friendly web terminal accessible on desktop and mobile devices.
- Advanced charting tools: The platform integrates TradingView charts with 100+ technical indicators, 50+ intelligent drawing tools, and 12 customizable chart types.
Analysis of the main features of this crypto exchange
TU analysts have evaluated Bitsgap across various aspects, resulting in the following scores:
- Overall Score: 5.99/10
- Execution of Orders: 6.41/10
- Investment Instruments: 6.05/10
- Withdrawal Speed: 6.35/10
- Customer Support: 5.83/10
- Variety of Instruments: 6.57/10
Top alternatives to Bitsgap
TU analysts compare Bitsgap and other brokerages. Here are some examples to help traders choose wisely:
Bybit
Bybit is a popular cryptocurrency derivatives exchange known for its user-friendly interface, advanced trading tools, and features like leverage trading. It offers a range of perpetual contracts for various cryptocurrencies.
OKEx
OKEx is a leading cryptocurrency exchange platform offering a wide selection of trading pairs and futures contracts. It provides advanced trading features, robust security measures, and a global user base.
Binance
Binance is one of the largest and most reputable cryptocurrency exchanges globally. It offers a vast range of trading pairs, including spot, futures, options markets, and its native token BNB. With its user-friendly interface and robust security measures, Binance has gained popularity among both beginner and experienced traders in the crypto industry.
Huobi Global
Huobi Global is a well-established cryptocurrency exchange offering diverse trading pairs and services. It provides a secure and intuitive trading platform, including spot, futures, and margin trading.
KuCoin
KuCoin is a cryptocurrency exchange known for its extensive range of altcoins and low trading fees. It offers various trading features, including spot trading, margin trading, and staking options.
Additionally, TU experts have recently published a CoinSwitch Kuber review on their website for traders. CoinSwitch Kuber is a cryptocurrency exchange based in Bangalore, India. It was founded in 2017 and now has over 7.5 million users.
Conclusion
Bitsgap offers a unique platform for cryptocurrency traders to access multiple exchanges and utilize specialized bots. While it has its pros, such as a wide range of cryptocurrency pairs, no trading commissions, and a functional trading platform, some drawbacks exist, like the absence of leverage trading and a license from a reputable regulator. For more detailed information, visit the Traders Union website.
By Adedapo Adesanya
The Naira weakened by N7.09 or 0.53 per cent against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Wednesday, August 19, to N1,350.41/$1 from the previous rate of N1,343.32/$1.
The local currency also significantly depreciated against the Pound Sterling in the official market yesterday, by N19.87, to close at N1,839.13/£1 versus the previous day’s N1,819.26/£1, and against the Euro, it lost N18.07 to end at N1,574.31/€1 versus Tuesday’s price of N1,556.24/€1.
However, at the black market, the Naira maintained stability against the US Dollar at N1,390/$1, and also remained unchanged at the GTBank forex desk at N1,357/$1.
Interbank FX turnover increased by 1.72 per cent to $370.980 million from $364.709 million, according to the daily update by the Central Bank of Nigeria (CBN).
On the other hand, the number of interbank FX deals declined to 100, from 108 the previous day, reflecting a moderate slowdown in activities.
Available data from the central bank showed that demand for FX by end-users in Nigeria fell by 35.23 per cent to $3.42 billion in April 2026, easing pressure on the Dollar market as the Naira recorded modest gains.
This occurred as FX utilisation across economic sectors declined during the month, while the Naira strengthened at the official market. Across several sectors, including oil, food, and manufacturing, there were drops.
The monthly average exchange rate improved 1.38 per cent to N1,361.22 per Dollar in April from N1,379.98/$1 in March. At the end of the review month, the domestic currency closed at N1,374.94 per Dollar at NAFEM, compared with N1,386.72/$1 at the end of March.
In the cryptocurrency market, coins recorded massive jumps following the US Treasury’s decision to at least double bond buyback operations and was reinforced by a bond-market surge and President Donald Trump’s call for Congress to advance crypto market-structure legislation.
The American President urged Congress to advance the Digital Asset Market Clarity Act, calling for “a fair version” of the market structure bill that has been stuck in the Senate.
Ethereum (ETH) surged by 18.2 per cent to $2,261.93, Solana (SOL) rose by 11.4 per cent to $85.77, Ripple (XRP) expanded by 10.5 per cent to $1.10, Bitcoin (BTC) grew by 8.6 per cent to $69,784.82, Dogecoin (DOGE) added 7.3 per cent to sell at $0.0751, Cardano (ADA) rose by 4.8 per cent to $0.1842, Binance Coin (BNB) jumped by 4.5 per cent to $628.45, and TRON (TRX) increased by 0.1 per cent to $0.3330, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 apiece.
By Aduragbemi Omiyale
Those who purchased the N40 billion bond issued by Geregu Power Plc in 2022 but did not receive payments last month as expected have reportedly now been paid by the energy company.
Geregu Power, listed on the Nigerian Exchange (NGX) Limited, was in the news recently over the repayment default on July 28, 2026, triggering panic in the capital market.
Last week, the organisation admitted the issues caused by this default, but said, “Discussions and engagements are ongoing, and the company will continue to act in good faith in fulfilling its responsibilities.”
It further disclosed that “relevant stakeholders and advisers [are being actively engaged] regarding the resolution of the various challenges and is committed to achieving an orderly and mutually beneficial outcome.”
The latest information indicated that N6.03 billion owed investors under the firm’s N40.09 billion Series 1 Senior Unsecured Bond has been cleared.
This is expected to bring relief to investors, who may have feared the worst after the entity failed to meet its debt obligations when due.
However, on the FMDQ Securities Exchange, the status of the debt instrument remains as “credit default in the 8th coupon payment and 4th bullet principal repayment.”
As of the time of filing this report, Geregu Power has yet to confirm the clearing of the N6 billion debt.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited extended its losing streak to seven consecutive sessions on Wednesday after it closed lower by 0.36 per cent.
The loss suffered yesterday was inflicted by the energy space, which significantly shed 4.63 per cent at the close of business. This was because of profit-taking in Aradel Holdings.
Further, the insurance segment went down by 0.88 per cent due to sell-offs, especially after news of the revocation of the operating licence of Universal Insurance Plc by the National Insurance Commission (NAICOM) after it missed the new recapitalisation requirements.
The consumer goods index depreciated at midweek by 0.31 per cent, while the banking space recovered 0.54 per cent, with the industrial goods segment closing flat.
When market activities ended for the session, the All-Share Index (ASI) was down by 860.76 points to 240,750.47 points from 241,611.23 points, and the market capitalisation gave up N556 billion to settle at N155.417 trillion compared with the previous day’s N155.973 trillion.
International Energy Insurance shed 10.00 per cent to quote at N4.77, Aradel lost 9.99 per cent to trade at N1,374.20, Universal Insurance slumped by 9.41 per cent to 77 Kobo, Red Star Express depreciated by 9.26 per cent to N14.70, and Royal Express crashed by 8.62 per cent to N1.06.
On the flip side, Haldane McCall gained 10.00 per cent to end at N3.52, Coronation Insurance improved by 8.44 per cent to N2.44, UAC Nigeria jumped by 6.56 per cent to N177.85, AVA Capital grew by 6.29 per cent to N7.60, and Caverton rose by 5.32 per cent to N4.95.
The most active equity during the session was Fortis Global Insurance, with a turnover of 610.7 million units worth N1.2 billion. FCMB traded 60.9 million units worth N722.9 million, Fidelity Bank transacted 57.0 million units valued at N1.2 billion, Consolidated Hallmark sold 46.3 million units worth N312.7 million, and Royal Exchange exchanged 43.5 million units valued at N45.8 million.
In all, a total of 1.2 billion shares valued at N37.8 billion exchanged hands in 34,546 deals on Wednesday compared with the 429.8 million shares worth N27.5 billion traded in 35,683 deals on Tuesday. This indicated a spike in the trading volume and value by 179.20 per cent and 37.46 per cent, respectively, while the number of deals declined by 3.19 per cent.
