BitQT: Scam or a Trustworthy Robot?
Online currency trading, especially Bitcoin, has grown tremendously in recent years.
If you have little understanding of Bitcoin and online trading, but would like to give it a try, using BitQT may be a good start for you.
BitQT is a computer program that trades bitcoins on its own. It works with an "Artificial Intelligence Robot". This robot has all the information about the market and investments and also knows exactly what the right moment is for buying and selling.
Only a small minimum capital deposit is required (€250) and the programme claims €1,000 in daily profits when you have invested such a small amount.
So if you have little understanding of online trading, BitQt could be an interesting program for you. The programme also has trading coaches, who will guide you in making investments.
But is BitQT BQ legitimate and if so, is the stated profit really achievable?
What is the BitQT app?
BitQT was created in 2017 by a team of bitcoin brokers.
At the time, it was claimed that they could perform bitcoin transactions 0.01 seconds faster than their competitors.
By executing faster transactions, the team believed they could beat other automated trading platforms to capitalise on market trends.
A lot of bitcoin coins in one place
Today, investors still don't know who created BitQT. Rumour has it that it was built by a team of well-connected brokers.
Since they already had experience working with their own platforms, they were able to create an even better algorithm when they worked together on BitQT. As a result of their efforts, users can now enjoy a simple, yet powerful platform for making automatic investments.
BitQT describes itself as a powerful, specialised computer algorithm that automatically performs the trading functions of an expert BTC CFD trader.
A BTC CFD allows traders to speculate on the volatility of BTC without having to own bitcoin. This means that you can speculate on bitcoin without owning a crypto wallet and going through the tedious process of buying one.
There are robots that trade CFDs on traditional assets such as stocks, commodities and forex. The BitQT app only trades in a handful of assets. With this robot, you can trade in popular pairs such as BTC / EUR, BTC / USD, BTC / GBP and BTC / ETH. In total, BitQT offers more than 60 BTC CFD pairs.
The robot claims to be able to perform both technical and fundamental analysis with a high perceived profit rate. In trade research, technical analysis includes identifying tradable patterns from trading charts.
The BitQT app can analyse more than a thousand charts within a minute.
The best human trader in the world takes at least 5 minutes to analyse a single chart.
In terms of fundamental analysis, BitQT BQ is equipped with Deep Learning (DL) algorithms that can read and generate insights from the news with an alleged accuracy of 95%. These algorithms claim to do this at a speed 0.001% faster than the markets.
BitQT app reportedly beats the markets 99% of the times.
What are the main advantages of BitQt?
The main advantages of BitQt are:
- The program always gives notifications when the market fluctuates, so that it can respond accordingly;
The Artificial Intelligence Robot helps you trade bitcoin. And with the help of trading coaches you will quickly learn everything about trading crypto currencies;
- ItQT BQ creates a transparent trading system through the coveted blockchain technology. This technology allows users to track their accounts in real time and settles disputes through smart contracts;
- The robot has a fantastic reputation with a rating of 4.6 / 5 on ForexPeaceArmy after almost 6k reviews;
- At least 95% of BitQT reviewers report a positive experience with this robot;
- BitQT also scores exceptionally well in customer service. Users are very happy with how quickly the customer service department responds and the service they provide to their users.
How does the BitQT app work?
The BitQT app trades in the same way as a professional human trader. The robot does research and passes the signals it finds to a broker for implementation.
This means that BitQT works with several brokers. In addition to implementing the signals sent by the robot, the brokers also handle the transactions.
The BitQT app also relies on these brokers to provide leverage.
Leverage is a type of loan provided by the broker to a trader to enable them to take larger market positions.
- The higher the leverage, the more a trader can place and the more they can earn.
BitQT partner brokers offer leverage of 5000: 1. This means that users can place trades worth up to €5000 for every €1 of deposited capital.
Trading no profit can be guaranteed. There is always a risk of loss when trading bitcoin. Never bet money you do not have or cannot afford to lose.
How to open a BitQT account
Using the BitQT app is not difficult if you follow the instructions provided.
It has a tutorial section and several tutorials to get you started. These tutorials and guides are written in such a way that they are easy to understand for everyone.
BitQT also offers a demo account to help new users practice before they get started.
However, please note that the educational materials and demo are only available to users who register and make a deposit.
STEP 1: Register for a free account
Go to BitQT BQ and create an account.
Confirm your registration details and accept the terms and conditions of the BitQT app before proceeding. It is wise to also indicate that you want to receive emails from the mailing list.
If you do not agree to join the mailing list, you may miss out on essential information and updates.
STEP 2: Verify your identity with the broker
Once you have landed at this broker, you can make your first deposit. To do this you need to click on 'Deposit' on the right hand side of your screen. Please note that the minimum amount to start tradingID verification is mandatory for all financial institutions, including when you create an account with BitQt. You will be redirected to the page of a local partner broker to verify your identity.
To verify your identity, you need to upload a picture of a clear copy of your driving licence or national identity card. The residential address must also be confirmed by a copy of a bank statement or a recent utility bill.
The address must be visible on these.
All these steps are necessary and are implemented by financial institutions worldwide to prevent money laundering. at BitiQ is €250. On the deposit page you can enter your payment method and desired amount.
STEP 3: Deposit a minimum of EUR 250 as trading capital
You must deposit a minimum of EUR 250 to gain access to BitQT.
This is money that will be used for trading bitcoins and not the cost of the robot itself. As mentioned above, BitQT is free for all users.
However, the robot does charge a small monthly fee of €5.
The underlying brokers may also charge a markup on the spreads generated when trading through the robot.
When you keep the stated potential of BitQt in mind, the costs are actually small.
Payment can be made by debit/credit cards, bank transfers, e-wallets and bitcoin.
STEP 4: Trading with a demo account
The demo account offers everything you can find in your own account. It also performs backtesting on historical data, simulating a real market experience.
The results you get through BitQT-webtrader reflect what you can expect in real trading.
Therefore, you should take your time and try different risk settings to understand how it works and which one works best for you.
As mentioned above, all the information is provided in a language that can be understood by anyone, so novice traders can follow it easily.
STEP 5: Live Trading
Trading with BitQT should no longer be a challenge once you have practiced in the demo. This robot is 99.99% automatic and therefore requires very little manual input.
You don't have to pay attention to what the robot is doing all day. The programme works best if it can do its work uninterrupted for at least 8 hours every day.
The settings to be adjusted in the app include the Stop Loss and Take Profit functions. These tools help you determine the level of risk per trade.
Never risk more than 10% of your invested capital in a single trade.
Is BitQt reliable?
Frequently Asked Questions
Bitcoin BitQT is a highly specialised and powerful computer algorithm that automatically performs the trading functions of an experienced BTC CFD trader.
A BTC CFD allows traders to speculate on the volatility of BTC without having to own bitcoin. This means you can speculate on bitcoin without owning a crypto wallet and going through the tedious buying process of it.
The robot claims to be able to perform both technical and fundamental analysis with a high perceived profit rate.
In trade research, technical analysis involves identifying tradable patterns from trading charts. The BitQT app can analyse over a thousand charts within a minute. The best human trader in the world takes at least 5 minutes to analyse a single chart.
The experiences and reviews of experts and ordinary users are extremely positive.
Among other things, they appreciate the ease of use, the transparency of all information and the good support you get.
In other words, you know exactly where you stand. And should you be in any doubt, you can always fall back on your trading coach or the knowledge of the AI robot.
BitQt guarantees a very high profit percentage, so you will definitely make money with this program.
Using the app is completely free.
You pay nothing for creating and having the account. This also means that all profits go to you.
When you create an account, you need to deposit a minimum of 250 euros to start trading.
This money will not go to BitQt, but you can use it to invest after logging in.
Basically, you are using BitQt for free.
The amount of money you earn is highly dependent on several factors. The bigger the investment, the bigger the profit.
But especially if you just start trading it is often wiser to start with a smaller amount.
Just like with other investments, the more experience you have, the more you will earn in principle. Of course a bit of luck is important and you should also listen carefully to the robot.
The robot has a fantastic reputation and can predict the market very successfully. He knows which actions will be profitable and which will not.
Absolutely not! BitQT BQ seems to rely on real trading strategies and technologies.
So it is not a Ponzi scheme.
Getting your profits paid out is very simple in the BitQt app.
Go to the management page of the money in your account and fill in the withdrawal request form. It takes about two hours for this withdrawal to be processed.
BiTQt's customer service is available on the website and is generally well-received. You can go there with all your questions and they have a good response time.
If you have questions or doubts about anything, you can always contact the customer service.