BitIQ Review – Is it a Scam or Legit?
Crypto robots are one of the main trends sweeping the cryptocurrency market these days, offering an easy and automated way to generate returns. More and more crypto robots are springing up – with BitIQ being the latest to grab the attention of traders. This guide will present our BitIQ Review, covering the robot’s features in-depth and showing you how to set up the robot and begin trading today!
What is BitIQ?
Let’s start with a breakdown of what BitIQ actually is, to provide context for the rest of the review. BitIQ is what’s known as a ‘cryptocurrency robot’, which is a specially designed piece of software that can automatically trade the crypto market without any manual input required. Similar to the best forex robots, cryptocurrency robots only require an initial setup, and then they’ll be ready to go and trade the market on your behalf.
In terms of BitIQ, this robot has been designed by an experienced and diverse team of traders and software developers. The robot solely focuses on crypto trading and will automatically scan the markets in search of profitable trading opportunities. The specifics of the algorithm are not revealed on BitIQ’s website. Still, the robot’s strategy does incorporate elements of arbitrage, news trading, trend trading, and artificial intelligence to generate trade ideas.
Your capital is at risk.
The BitIQ robot works through an app that is designed to be used on smartphones. This means that the robot can buy cryptocurrency in an automated fashion, with full access given to you to monitor the trades it makes throughout the day. Furthermore, the BitIQ robot is completely free to download and use – there are no hidden fees or commissions associated with using the service.
All in all, BitIQ offers a quick and easy way to trade the cryptocurrency market, especially if you are a beginner. The developers have designed the robot to be suitable for people with zero trading experience – as the robot does all the work for you, all that’s required is for you to sign up. Once signed up, you can then make your deposit and let the robot do its thing!
BitIQ Review – Pros & Cons
The growth of the cryptocurrency market combined with the acceleration of technology has meant that more and more providers are developing and releasing crypto robots for traders to use. With so many robots being offered on the market, it might seem overwhelming to decide which one suits your situation the best.
Not to worry – this section presents a simple breakdown of BitIQ’s pros and cons, allowing you to see at a glance whether the robot would be ideal for you and your investment goals.
- Seamlessly trades the cryptocurrency market for you
- 100% free to use – no hidden fees
- Uses a combination of four trading strategies
- Dedicated app for you to monitor the robot’s trades
- Minimum deposit of only $250
- Developed by a team of traders and software developers
- Account opening only takes minutes to do
- Can test the app risk-free before live trading
- No verifiable track record on the website
- Only available on the app
Your capital is at risk.
BitIQ Review – Services
So, what does BitIQ do? As a crypto robot, BitIQ uses an algorithm to scan the market all day, every day – looking for trade opportunities that it deems have a high chance of profitability. Then, similar to the best crypto exchanges, the robot will automatically buy or sell the specific cryptocurrency to ensure the trade is entered at the optimal time.
BitIQ’s primary focus is on trading Bitcoin. Bitcoin still leads the way in terms of trading volume and popularity. Due to this, Bitcoin offers consistent and reliable trade opportunities on an almost daily basis; furthermore, the liquidity that the Bitcoin market has ensures that trades can be executed rapidly. Many BitIQ reviews note that the robot does trade a selection of other cryptocurrencies, although there was no mention of this on the official website.
When BitIQ decides to buy Bitcoin (or sell Bitcoin), it will automatically do so by using the capital you have provided. BitIQ requires a minimum initial deposit of $250 to begin trading – although this may seem steep for some traders, it is necessary to ensure the robot has sufficient capital for its strategies to be employed effectively.
As noted, BitIQ functions solely through the smartphone app that the developers have created. The great thing is that users can register and download the app for free without making a deposit first. Then, when you are ready, you can make your $250 (or more) deposit and let the robot do its thing! This provides ample time to get familiar with the app’s layout and how the robot works.
How Does BitIQ Work?
When you first become aware of crypto robots that can buy cryptocurrency on your behalf, you may be wondering how they work. The best way to think of these robots (including BitIQ) as a sort-of ‘helper’ for trading the market. Essentially crypto robots are pieces of software that can do everything that a human trader can do – although they are designed to be faster and more efficient than humans.
Furthermore, an essential factor to note is that these robots act without emotion. So, if you use BitIQ, all the robot’s decisions will be objective, precisely how it needs to be in the market to perform optimally. Often, human traders will let emotions affect their trading decisions, which can hamper any market progress.
With BitIQ, the whole trading process is rule-based and automatic. As noted, the robot employs a combination of four different strategies to generate trade ideas. The creators of BitIQ have kept the specifics of the strategy under wraps (to ensure that competitors do not copy it); however, according to many reviews, the system that BitIQ employs is both lucrative and consistent.
The process of cryptocurrency trading is essentially stress-free when using BitIQ, as no manual input is needed from you. As the robot is rule-based, once it finds a trade opportunity that aligns with its strategy, it will quickly and automatically place either a buy or sell trade. One of the great things about BitIQ is that it can execute trades incredibly fast – even down to periods of a hundredth of a second!
Once the trade has been placed, it’s totally up to you whether you’d like to monitor it or not. Some people want to keep tabs on the trade’s progress, whilst others choose to set up the robot and only check it once per day. Ultimately the decision is totally up to you!
BitIQ Success Rate
Understandably, you’re probably wondering how successful BitIQ is overall. At present, BitIQ’s website does not actually showcase any success rate data or customer testimonials. Some robot providers opt to highlight these metrics on their websites, even verifying them through third parties.
Initially, you may be thinking it’s a bad thing that BitIQ do not highlight this data – but, in reality, it may actually add to their credibility. One of the downsides of the crypto robot industry is that many providers will falsely claim extremely high success rates (90%+) on their websites to draw people in. Most of the time, these claims are fake and result in people losing money.
BitIQ has opted not to make any bold claims like this, instead letting the results speak for themselves when live trading. Many reviews across the internet have noted that BitIQ does deliver consistent results. However, it’s essential to test this out yourself and make sure it is as consistent as people say!
Your capital is at risk.
BitIQ Review – Fees
One of the great things about BitIQ is that the robot is completely free to use – absolutely no hidden fees or charges whatsoever! This contrasts with some of the best crypto signals and robots, who tend to make users pay for their services. Some robots will even receive a cut of any trades made through the robot – although this isn’t the case with BitIQ.
All that’s required to begin trading is a deposit of $250 (around £180), with no deposit fee attached. Notably, BitIQ doesn’t even require a broker account to begin trading, as the robot will facilitate all the trades on your behalf. Although the specifics of how this works aren’t stated on the website, the fact that you don’t need to place the trades yourself through a broker’s platform will mean that you avoid any hefty commissions or spreads that some brokers charge.
Is BitIQ a Scam?
When people begin researching a crypto robot, the services and features often seem too good to be true. Understandably, you may be wary that the robot is a scam or won’t live up to expectations. The reality is that BitIQ seems like a completely legitimate robot, with a well built out website and lots of information on cryptocurrency, the robot’s background, and the development team.
The lack of customer testimonials might be concerning at first, but again, BitIQ’s team may have decided not to place these on the website. This would most likely be because they wish to avoid being associated with other robot providers that perhaps ‘fake’ their testimonials and results to draw in customers.
However, on the other hand, BitIQ actually has many positive reviews throughout the web. Numerous reputable sources have downloaded and used the app to determine whether the service lives up to expectations – and all reviews seem to agree that it does! Furthermore, BitIQ even employs advanced SSL encryption on its system designed to protect your data and ensure you don’t get scammed. These factors all combine to add credibility to BitIQ’s services.
The BitIQ app has been specifically designed to appeal to traders wondering how to buy cryptocurrency in an automated fashion whilst on the go. Firstly, the app is entirely free to download – no hidden charges or commissions are required. The developers state on the BitIQ website that they have developed the app to be user-friendly and accessible to people with no trading experience. This is an excellent factor as many other trading apps are advanced and can be pretty intimidating for people who are unfamiliar with the crypto market.
Once the app is downloaded, you can essentially use it as a ‘demo account’ initially, as you don’t have to deposit funds immediately. Again, this is a great feature for new traders as it allows them to get familiar with the app and comfortable with how the robot works. Once a deposit is made, and the robot begins live trading, the app allows you to monitor the trade’s progress and see whether the position is profitable or not. Finally, the app even offers some options to customise how much you’d like to risk and some other features, to ensure the robot is tailored to your unique situation.
BitIQ Payments & Withdrawals
BitIQ acts as an ‘all in one’ crypto robot, which means that you do not need a bitcoin trading platform or crypto broker to facilitate your trades. As noted earlier, the specifics of how BitIQ place your trades isn’t specified on their website. However, what typically happens is that the robot will have a partner broker that it uses to open positions. This is a good thing for traders as it means you do not have to spend time opening a broker account and dealing with all the admin that accompanies that.
In terms of payment methods, these aren’t specified, although most robots accept either credit/debit cards or bank transfers. Withdrawals with BitIQ are speedy, with the timeframe for your withdrawal to be processed being only 24 hours. All withdrawals are facilitated through a withdrawal request form that users can find on the BitIQ app. This process is more streamlined than some other robots that tend to make it difficult for you to request your funds.
BitIQ Minimum Deposit
Through our research and reading of other online reviews, it seems that BitIQ’s minimum deposit is $250. This is a reasonable amount to request as it provides the robot with enough capital so that the strategy can function effectively. Again, users can most likely make this deposit through a credit/debit card or bank transfer.
BitIQ Review – Customer Support
Similar to when you buy shares with a broker, you’ll want to ensure that any crypto robot you use has sufficient customer service facilities in case you encounter any issues. Fortunately, BitIQ has a dedicated customer service team that is on hand to help you deal with any problems that arise.
This team can be reached through the handy contact form on BitIQ’s website. All you need to do is provide a valid email address and give a detailed breakdown of your issue/query. BitIQ’s team will then receive this form and email you back with the steps you need to solve your problem. Finally, there’s even a dedicated FAQs section on the BitIQ website covering most of the main things that users ask.
How to Use BitIQ
Now that you understand what the BitIQ robot is and how it works, let’s look at how to get set up. The four short steps below will show you how to register and download the robot in under ten minutes – ensuring you can begin trading as quickly as possible.
Step 1: Register for BitIQ
Navigate to BitIQ’s website, and you will see a signup box on the homepage. Enter your first and last name, a valid email address, and your mobile number to register your account.
Step 2: Deposit Funds
As noted previously, BitIQ requires a minimum deposit of $250 to begin trading. This is to ensure the robot has sufficient capital to use its strategy optimally.
The deposit methods that are accepted are not specified on the website, although typically crypto robots tend to accept credit/debit cards and bank transfers. With BitIQ, there are no deposit fees – so the complete $250 can be used as trading capital.
Step 3: Set Up the Robot
Once you have made a deposit, it’s a good idea to tweak the robot’s settings. Factors such as risk amount should be altered to your specific situation to ensure that you do not blow your account if a string of losses occurs. Once you are happy with the settings, move on to step 4.
Step 4: Begin Live Trading
Now all that’s left to do is head to the live trading section and let the robot do its thing! Once the robot is running, you do not have to do anything else – it will automatically scan the markets and place trades when it sees fit. This means that you can sit back and let it trade the market for you whilst you go about your day!
BitIQ Review – The Verdict
As mentioned throughout this BitIQ Review, overall, crypto robots are a great way to trade the market these days – especially if you are short on time. The research and analysis that goes into cryptocurrency trading means that it can be quite a time-consuming task, which isn’t ideal for people who work full-time jobs. Using a crypto robot reduces the time needed to trade to just a few minutes each day – ensuring you can still reap the rewards of market opportunities whilst doing other things.
If you’re looking to get started with a crypto robot today, we’d recommend using BitIQ. As this review has shown, BitIQ has a fantastic set of features, all available through its dedicated smartphone app. What’s more, BitIQ is 100% free to use – and only requires a minimum deposit of $250!
BitIQ – Free Crypto Trading Robot
Your capital is at risk.