BitIQ Review 2024: Is it Legit or a Scam?

Crypto trading platforms are automated tools that conduct trades and execute transactions on behalf of human investors. These tools are perfect for investors who can not dedicate as much time to the cryptocurrency markets as necessary to achieve the best trades.

Platforms like BitIQ are also ideal for beginners who are new to the crypto space. In this BitIQ Review 2024, we discuss what you need to know about the crypto trading platform and why you should consider using the BitIQ platform today.

BitIQ Overview

How Does BitIQ Work?

The BitIQ trading platform uses artificial intelligence (AI) and blockchain to offer profitable and transparent crypto CFD trading. Since its founding in 2018 it has grown into one of the most popular crypto trading tools today.

The BitIQ website takes you to the BitIQ app to trade cryptocurrencies using advanced price trend analysis, arbitrage, and news trading strategies.

Like other crypto trading platforms, BitIQ is programmed to think like humans and mimic their actions. BitiQ was developed using a subset of AI of Natural Language Processing (NLP) to follow instructions. The NLP system claims to study billions of web pages simultaneously. With this technology, the app scans the market for profitable trade opportunities and acts on them instantly.

BitIQ also incorporates technical analysis and news analysis elements to get a full picture of the market. This move saves you the hours of constantly following crypto news updates and developing a trading strategy.

For example, the BitiQ’s algorithms are programmed to speculate on Elon Musk Bitcoin news. His tweets are known to trigger market movements. Hence, BitiQ is powered to detect these tweets, predict how they will impact volatility, and place bets based on these predictions.

BitIQ even offers a handy demo account feature that lets you test the waters. This way, you can experiment with several trading strategies without investing real money. This practice is important for training and to set you up for future success.

Finally, BitIQ is suitable for all traders, especially newbies. Traders benefit from the trading platform’s ease of use and the absence of hidden fees.

BitIQ vs. Other Platforms

Is BitIQ a Scam or Legit?

This section of our BitIQ review answers the question of whether or not the BITIQ is safe. The answer is yes. From our research, BitIQ is a legitimate bitcoin trading platform that can automatically trade the markets. BitIQ is a generally trusted site with several users, so there shouldn’t be anything to worry about. Also, the technology used, according to BitIQ, makes the platform a credible option. However, if you are still wary of this platform, you could first use the free demo feature. You can start trading on the live account once you are convinced that BitIQ is not a scam.

BitIQ Key Features

BitIQ has many special features, and these features benefit numerous traders who use the platform to trade. Below is a selection of some of the key benefits of using BitIQ.

Arbitrage trading

BitIQ makes use of arbitrage trading, the simultaneous buying and selling of an asset in different markets to exploit the price differences. BitIQ examines up to 30 top cryptocurrency exchanges and places up to 50 arbitrage exchanges per minute.

More than 70% of these arbitrage transactions are reported to be correct. The benefit here is that this type of trading comes with lower risks as the buying and selling prices are already known to the trader.

Artificial intelligence and quantum computing

BitIQ is well equipped with major technologies with incredible potentials, such as Artificial Intelligence And Quantum Computing. Our BitIQ review found out that these technologies bring about high-level performance. The crypto trading platform helps users find trading opportunities far quicker than the human eye. Due to these factors, BitIQ can trade more efficiently than humans can.

Ideal for beginners

BitIQ’s easy-to-use platform is ideal for beginners to get started with crypto trading. The major task required from beginners is to follow the instructions to set up their accounts and start trading immediately.

Trustworthy brokers

Our research for this BitIQ review found that the BitIQ app is an auto-trading system operating under trustworthy, highly regulated brokers. Moreover, the trading platform is in partnership with over 13 brokers, and authorities regulate most of them, like the UK’s Financial Conduct Authority (FCA). This means that your trading capital is as safe as possible, preventing any scams.

How To Use BitIQ

This section of our BitIQ review will take you through the process of signing up to trade on the platform. Similar to most forex trading platforms we have reviewed in the past, BitIQ’s sign-up process is super quick and can be done in only a few minutes.

Step 1: Create an account

The first step is to create an account on the BitIQ website. This process is free. All you need to do is visit the BitIQ website and enter your first and last names, a valid email address, and a phone number in the sign-up box. Also, you’ll be asked to create a password to secure your account.

Step 2: Verify your account

After opening your account, you would be required to authenticate your account by uploading documents on the assigned broker’s page.

Step 3: Fund your account

BitIQ requires users to fund their accounts with a minimum deposit of $250. The platform supports various payment methods. They include credit/debit cards, bank wire transfer, Skrill, WebMoney, FasaPay, and Neteller.

Step 4: Use the demo account

Using a trading system for the first time can be challenging, which is why users are encouraged to use the BitIQ demo account to begin. The BitiQ demo is highly advanced and offers a perfect representation of the BitIQ live trading experience. Use the demo to familiarize yourself with the platform because the results attained via demo trading are usually not so different from live trading.

Step 5: Start trading

Now you have decided to use your real money to start live trading. You must adjust the settings, such as trade volume and risk level so that the platform trades in a manner that suits your specific needs. Make sure that you have also taken the risk appetite test and try out different settings on the demo.

You can now click the live button to start a live trading session.

Note that the BitIQ app is hybrid and so not listed on Google Play and Apple Store. You can only get a link to download the BitIQ app once you become a fully registered user. You can find it at the bottom of the trading resources page that pops up after you complete the registration process.

Features of BitIQ

From our research conducted for this BitIQ review, we discovered that the trading platform has several features. This section highlights some of them:

Demo account

As mentioned earlier, BitIQ offers a demo account to all users. Once you fully register on the platform, you would have access to the demo mode. This would help you become familiar with the BitIQ interface. You can also practice different trading strategies without risking your own money.

Free software

Unlike conventional Bitcoin trading platforms, you can use BitIQ completely free of charge. The crypto trading platform does not charge any fees or expenses, and there are no concealed commissions.

Fast withdrawals

The BitIQ app processes withdrawal requests fast without delay. While several cryptocurrency exchanges and trading platforms require their traders to wait for at least 7 days before their accounts are credited, this is not the case with BitIQ. BitIQ takes approximately 24 hours for your withdrawal request to be processed after filling out the appropriate form. You also have various withdrawal options to choose from on BitIQ.

Awesome customer service

BitIQ has a satisfactory customer service department that is accessible anytime. They use various timely and efficient communication channels.

Secure platform

BitIQ is a safe and secure platform to use to trade your cryptocurrencies. It protects your funds, and personal information, from any data breach. This is done using high-end SSL encryption and other innovative security technologies.

Our BitIQ review also shows that the crypto trading platform only uses regulated brokers to facilitate trades safely and securely.

Tips for Trading on BitIQ

Even though crypto trading platforms basically do all of the work for you, you must learn some fundamental terminology and keep a few tips in mind.

Invest only what you can lose

Traders, especially beginners, make this common mistake of starting big. It is advisable to begin trading with a small amount before walking your way up to large investments. Also, when you start trading large amounts, make sure they are amounts you can conveniently lose.

While higher investments can result in higher profits, higher investment amounts can also increase your chances of losing your investment money. Traders should strive to be cautious when trading, and begin trading with small amounts.

Be careful

While BitIQ uses AI-powered technology that provides noticeable returns, it does not change that the crypto market is volatile. This means that there will always be trades to lose, and as such, it is important to be careful when trading with the platform.

Tweak the trading settings

When you first use BitIQ, make sure to change the trading settings to suit your specific needs. Furthermore, you can tweak the crypto trading platform to trade in a high or low volume manner; make sure this setting aligns with your investment goals.

Pros and cons

BitIQ pros

BitIQ cons

Conclusion

In summary, BitIQ is a great trading platform to utilize for trading in the crypto market. Our research for this BitIQ review, alongside thousands of positive reviews, shows that BitIQ appears to be a reliable trading software. However, there are many clones of this platform, so you should take extra caution. Ensure you are dealing with the right platform, or you risk losing your money.

To start using BitIQ, create an account and start trading. Setting up a BitIQ account is super quick, allowing users to be ready to begin trading in minutes.

FAQs