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Cryptocurrency is one of the most volatile asset classes in the world and the price fluctuations it experiences are often quite drastic. Humans have their own limitations which hinder their effectiveness in trading cryptocurrency. There are many times that investors are unable to react quickly to price changes. This is where Crypto Trading platforms come into the picture.
BitQL is one of the most popular trading platforms in this market. This guide will help you decide if the BitQL trading platform is a suitable option for you or not.
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
What is BitQL?
BitQL is a cryptocurrency trading platform with powerful and efficient integrated technologies. These technologies are driven by Artificial Intelligence. The sophisticated algorithm and AI evaluate opportunities for the investor by analyzing the qualitative and quantitative data of the assets.
That means that huge data sets are processed and analyzed by BitQL in milliseconds, and trades are implemented at an almost 90% win rate. The BitQL platform has become well-known and popular in the market because of its processing speed and accuracy. Moreover, AI-driven crypto trading platforms like BitQL are unbelievably accurate.
To conduct news-based trading, the BitQL app uses Natural Language Processing (NLP) and further implements advanced trading techniques. These techniques include advanced short-selling strategies.
BitQL has gone through rigorous testing. All these tests have proved that the platform is indeed legit. It maintains high scores when measured for legitimacy and accuracy. The BitQL app has been praised widely for its performance, reputation, transparency, customer support, and safety.
It is very easy to get confused regarding the legitimacy of a crypto trading platform, in part because a great amount of risk is involved in trading. However, BitQL is one of the few trading platfoms that is open and clear with potential users.
Furthermore, according to our BitQL review, its score on TrustPilot is 4.5 stars. That’s quite high for a crypto broker. Users have given extremely positive feedback, with many highlighting the accuracy and legitimacy of this platform.
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
How to use BitQL
By now, you should be well aware of how the algorithm works and the technologies used by this platform. In this section of the review, we are going to take a closer look at the step-by-step process of opening an account and trading.
Step 1: Create a BitQL account
The first thing that you need to do is create an account with BitQL. To create an account on BitQL, you will have to visit their official website and fill in the registration form in the right corner. In this form, you will be required to provide your first and last name, your email address, and your phone number.
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
Step 2: Fund the account
After creating the account you will be linked to BitQL partner brokers. You need to make a minimum deposit of $250 to use the BitQL software. Visa, Maestro, Mastercard, and e-wallets can be used to fund your trading account. The broker partners are extremely reliable and secure.
Step 3: Use a demo account
You will be able to set up a demo account that lets you to test the features of the trading platform. This way you can test BitQL before starting full-time trading. You will be given a full tour of BitQL’s functionality so you can familiarize yourself with the features. Using the demo account is like training. You will also receive a sample $1,500 credit in your account to test Bitcoin trading.
Key features of BitQL
In the following section, we take a closer look at the key features of BitQL.
Access to demonstration account
The BitQL website features demo trading using virtual money. With this option, you can get hands-on experience with crypto trading platforms. If you are a beginner interested in day trading, you will learn ways to trade in the crypto market. If you are a Pro, you will be able to assess the feasibility of BitQL. Having access to demo trading platform will help you get familiarized with the app before starting live trading.
Multiple currencies option available
BitQL supports trading for multiple cryptocurrencies including BTC, ETH, and XRP. Once you decide to initiate trading, the platform will use AI and machine learning technology to predict if your trade will be profitable. Trading multiple currencies reduce the risk of loss as there are always options for trades available.
User-friendly interface
The BitQL app provides its users with a highly user-friendly interface. It has both manual options for live trading, giving its users an edge over other tools in the crypto market. In addition, the dashboard allows you to customize settings according to your preference and the current state of the crypto market’s performance. These features of the BitQL App are highly useful for investors aiming for a mix of both manual and automatic options to make the best use of the bitcoin platform.
High level of security
BitQL has a Secure Sockets Layer (SSL) encryption. To clarify, this is a certificate for a secure website, and thus indicates that it BitQL is a safe trading platform. SSL encryption also ensures that you won’t be scammed and that any money you deposit with BitQL is safe.
Automated and manual trading
It is possible to do both manual and automated trading through BitQL. Experienced traders have the ability to modify the settings and utilize any trading tool that is accessible, based on their personal preferences. Alternatively, new users to the system or those who are inexperienced with cryptocurrency trading may opt to use the automatic option.
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
Is BitQL a Good Trading Tool?
Overall, BitQL appears to be a fairly good trading tool to use for your trading. The tool can help to automate the trading process so that you can trade passively throughout the day. Furthermore, the platform comes with a demo account through which you can test the tool before putting any money at risk.
With that being said, there is no evidence to back up claims that are made by the BitQL website. Furthermore, automated trading tools are often met with scam allegations and BitQL is no stranger to this. You should be careful when putting your money into platforms such as this.
Tips for Trading on BitQL
When you are using an app like BitQL, there are few things that you need to do to ensure that you are on the right path to profit. Some of the tips that can help are:
Explore all features in the demonstration account
Exploring all features in the demo account means going through each tool that the platform offers. This will reduce your risk of loss since you will be familiar with how the dashboard works when you start live trading.
Only deposit $250 initially
According to our BitQL review, $250 is the minimum amount you must deposit before you can begin live trading. Most people assume that by depositing a large amount they are increasing their profit margins. However, this is not true. All crypto trading platforms, no matter how automated they are, do not guarantee a 100% return on investments.
Check your trade’s results
Although the BitQL app is a trading system, you may still need to confirm that your investment is in the right track. It is recommended that you check your trading results at least once a day.
Our final thoughts on BitQL
To sum up our BitQL review, this platform, unlike other common crypto day trading platforms, uses AI technologies to analyze Bitcoin and other cryptocurrencies. It can spot trading opportunities and help investors profit. We hope that this review has given a comprehensive overview of the features, benefits, usage, and many other aspects of this trading platform.
All the features that the BitQL app offers make it one of the most trusted and used trading platforms. During our research, we found the platform to be legit, highly efficient, and beneficial for investors in choppy market conditions.
Alan is Head of Content at TradingPlatforms.com and also contributes as a writer specializing in stocks and cryptocurrency trading. Alan earned an MA in English Literature from the University of Sussex in 2017. Since then, he has used his exceptional writing skills to create and edit content in the finance space for several reputable platforms.
Before working at TradingPlatforms, Alan worked as a content writer for IvoryResearch.com and Seven Star Digital. He is a skilled writer who is able to cover complex topics in a way that is easy to understand.
As well as creating content, Alan actively invests in the financial markets. This helps him to create insightful and actionable content and provides him with first-hand experience with many of the platforms that are covered by TradingPlatforms.com.
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