A review of BitIQ’s legitimacy: Is it a scam or a legitimate platform?
BitIQ is an automated trading software that facilitates profitable trading on 14 prominent cryptocurrencies, including Bitcoin. The platform purports a success rate of as high as 90% and solely levies a fee if your account generates profits. Can BitIQ be considered a suitable option for one’s needs? This review of BitIQ aims to provide comprehensive information about the cryptocurrency robot and to address the inquiry regarding its legitimacy, specifically whether it is a fraudulent or authentic platform.
Overview of BitIQ Review
To commence our BitIQ evaluation, it is imperative to provide an outline of the essential aspects that one must be aware of regarding this automated trading software.
⏰ Withdrawal encompassing the entirety of a day.
₿💶 Our platform embraces a diverse range of cryptocurrencies, including BTC, BCH, ETH, LTC, BTG, ZEC, DASH, ETC, ADA, MIOTA, EOS, NEO, BNB, and XRP.
📳 Mobile Application: No
🎉 A enormous 90% success rate has been achieved!
💱 Start your journey with a minimum deposit: $250 or more.
✨Charges and Compensation: A mere 2% commission awaits those with profitable accounts.
Cryptocurrencies lack regulation. Engaging in transactions with unregulated brokers needs to meet the criteria for investor protection.
BitIQ: What is it?
BitIQ is an automated trading software designed to execute cryptocurrency trades on behalf of its users. Using this robotic system, one can establish an account and delegate the task of identifying and executing trades to the platform. The trading mechanism of the platform is founded on a highly advanced artificial intelligence algorithm. Under favorable market conditions, the algorithm has the potential to achieve a success rate of 90% in trading.
According to BitIQ, the average daily return on investment is 25%. As per the developers, BitIQ is intended to be accessible to both novice and proficient cryptocurrency traders. Novice users may opt for a less involved approach, whereas proficient users may delve into the platform’s configurations to tailor its trading behavior to varying market circumstances.
BitIQ can be utilized at no cost. The platform does not impose any account fees, and the sole expense incurred by users is a commission of 2% on profits. The website stipulates that no payment is required if one’s account fails to generate a profit. In order to commence using BitIQ, an initial deposit of $250 is required. It is important to note that due to the inability to substantiate all assertions on the platform’s website, there is a potential risk of financial loss should one opt to engage in cryptocurrency trading through the said platform.
Who owns BitIQ?
The ownership of BitIQ remains ambiguous due to conflicting data across various online platforms and limited disclosure by the company. According to reports, the company is purportedly possessed by a provider of trading software with considerable expertise in the financial services sector.
Cryptocurrencies lack regulation. Engaging in transactions with unregulated brokers needs to meet the criteria for investor protection.
Advantages and disadvantages of BitIQ Review
- An individual can engage in trading activities involving 14 distinct types of cryptocurrencies.
- The assertion is made that the average daily return on investment (ROI) is 25%.
- Payment is contingent upon the making of a profit.
- Prior trading experience is not a requirement.
- The verifiability of the claims needed to be established.
- A minimum deposit of $250 is mandatory.
- Product or service is not accessible or obtainable in specific areas.
- TrustPilot has received negative feedback from customers.
Cryptocurrencies lack regulation. Engaging in transactions with unregulated brokers needs to meet the criteria for eligibility for investor protection.
How does BitIQ function?
The trading system of BitIQ is constructed based on an artificial intelligence (AI) algorithm. The algorithm employs a scanning technique to analyze the cryptocurrency markets in search of previously observed price patterns. Upon identifying a recognizable price pattern, the algorithm persistently monitors it until a specific trigger is established to initiate the purchase of cryptocurrency. Upon meeting a trigger, the algorithm initiates a trade by utilizing funds available in the trading account. Subsequently, the algorithm proceeds to track the trade’s advancement until the detection of an exit signal. Upon reaching that juncture, the BitIQ algorithm will automatically close your position and refund any funds, including profits, to your designated trading account. It is noteworthy that BitIQ functions solely as a trading system and does not operate as a brokerage. It is important to note that a cryptocurrency broker maintains the custody of your trading account in collaboration with BitIQ.
Which devices support BitIQ use?
Although no complete BitIQ application is available, individuals with accounts can utilize the platform through a web browser. This encompasses a range of electronic devices, such as mobile phones, personal computers, and tablet computers.
Who are BitIQ’s partnered exchanges and brokers?
The disclosure of BitIQ’s partnered brokers is contingent upon the creation of an account. The trading platform is permissible in any jurisdiction authorized by Contract for Difference (CFD) trading. The verification of regulated brokers still needs to be more conclusive. Hence it is recommended to establish direct communication with the broker. Additionally, it is prudent to refrain from trading with unregulated brokers.
Can I make use of BitIQ’s My Country?
The legality of BitIQ is contingent upon the permissibility of cryptocurrency and CFD trading within the jurisdiction in question. Please refer to the table presented below for a limited number of countries:
|Is BitIQ accessible within the United States?
|Is the BitIQ platform accessible in the United Kingdom?
|Is the BitIQ platform accessible in the Australian market?
|Is the BitIQ platform accessible in the Canadian market?
|Is BitIQ accessible in Spain, Germany, France, and Italy?
|Is the BitIQ platform accessible in the country of Singapore?
|Is the BitIQ platform accessible in the South African market?
|Is BitIQ accessible within the Mexican market? Is BitIQ accessible in Nigeria?
What is the potential profitability of BitIQ?
BitIQ is an automated trading software that utilizes market data to execute trades without human intervention. It is considered optimal protocol to monitor activity to manage one’s holdings effectively. The assertions made by BitIQ regarding a 90% success rate and a 25% daily ROI were not substantiated through our verification process. In addition, it is essential to acknowledge that losses are an inherent aspect of investing, and novice investors should limit their investments to an amount within their financial means to lose. In addition to its primary functions, the BitIQ automated system imposes a 2% deduction on generated profits. Furthermore, it is incumbent upon investors to duly report any profits to the pertinent tax regulatory bodies.
Key Attributes of BitIQ
In the context of our BitIQ review, examining several salient attributes of this trading platform is pertinent.
- 14 Acceptable Cryptocurrencies
BitIQ distinguishes itself from other cryptocurrency trading robots because it can trade beyond Bitcoin. This automated system can execute transactions involving a total of 14 distinct digital currencies, namely Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Bitcoin Gold, ZCash, Dash, Ethereum Classic, Cardano, IOTA, EOS, NEO, Binance Coin, and Ripple.
Each of the cryptocurrencies mentioned above can be exchanged with various fiat currencies, such as USD, GBP, EUR, and others, in addition to being traded with one another. BitIQ offers a diverse range of trading markets. This guarantees a persistent trading prospect for the algorithm to pursue.
- Hypothesized 90% Success Rate
According to BitIQ, its algorithm has the potential to attain a success rate of as high as 90%, given favorable market conditions. This implies that the algorithm is designed to close 9 out of 10 trades for a profit. According to the statement, using stop losses and conservative algorithm parameters mitigates losses on trades that do not yield favorable outcomes. According to BitIQ, the average daily return on investment for traders utilizing their platform is 25%. Nonetheless, the veracity of these assertions could not be substantiated. Therefore, if you utilize BitIQ, you will assume a particular risk.
- Trade Simulation
BitIQ provides a demo trading feature that enables users to experiment with the platform’s functionalities without exposing themselves to financial risks. This aspect is highly beneficial for novice users and optimizing the utility of BitIQ. This is due to the availability of a demo trading mode, which enables users to experiment with the algorithm’s parameters and determine the optimal combination of settings.
- Rapid Withdrawals
BitIQ, in conjunction with its affiliated brokers, can expeditiously process withdrawal requests. According to the platform, most withdrawal requests are processed and transferred to the user’s bank account within 24 hours.
- BitIQ Service Fees
BitIQ levies a fee solely if the user’s account yields a profit. Successful traders incur a commission fee of 2% on their trades. Traders who have yet to generate a positive return on their account are not subject to any fees. BitIQ’s fee structure does not include any charges for account creation, deposits, or withdrawals. It is important to note that BitIQ’s affiliated brokers may impose supplementary charges for trading, account inactivity, or withdrawal transactions. The fees exhibit variability across brokers, and it is essential to note that the funds are not directed toward BitIQ.
Listed below is a comprehensive overview of the fees associated with BitIQ.
|Payout of 2% of net revenue for successful accounts
|Fees Associated with Deposits and Withdrawals
|Lowest Acceptable Deposit
BitIQ: Is It a Fraud or a Scam?
One of the inquiries we aimed to address through our BitIQ evaluation was whether BitIQ is a fraudulent scheme. In the final analysis, it was impossible to authenticate the veracity of BitIQ’s assertions. Regarding expenses, it is asserted that no charges will be incurred unless the account generates a positive return. Despite this, a commission of 2% is consistent with the fees charged by other prominent cryptocurrency trading bots. Subsequently, it is asserted by BitIQ that it solely operates in conjunction with reputable brokers; however, the veracity of this assertion could not be substantiated. According to BitIQ, obtaining a refund in the event of dissatisfaction with the platform is highly simplified.
Withdrawals are processed within less than 24 hours, and no fees are charged for withdrawals. The TrustPilot page of BitIQ, a platform that gathers customer evaluations from the United Kingdom, exhibits a markedly pessimistic trend, as all 28 reviews presently available on the platform have been awarded a single-star rating.
BitIQ has been reported by customers as a fraudulent scheme, with numerous complaints regarding persistent phone calls following registration or attempts to terminate membership.
Online platforms like Reddit and Twitter contain content about BitIQ; however, the level of engagement is minimal, and the posts resemble promotional material rather than authentic user-generated content.
Before investing actual funds in BitIQ, conducting thorough research and utilizing the demo account is advisable.
If one has a proclivity towards alternative cryptocurrency automated systems, perusing our comprehensive evaluation of Bitcoin Loophole may be worthwhile.
BitIQ’s Minimum Deposit
In order to commence operations with BitIQ, the lowest possible deposit of $250 is mandatory. Initiating a profile with any of BitIQ’s affiliated brokers necessitates a deposit, which concurrently functions as the primary capital for automated trading within the account. In the event of dissatisfaction with BitIQ, it is possible to withdraw the initial deposit at any time.
Celebrity approvals of Bitcoin Evolution.
Many rumors and conjectures are circulating on the internet regarding the purported endorsement and backing of BitIQ by prominent celebrities and corporations, most notably Amazon. Nevertheless, our study has not substantiated any associations with prominent corporations.
Is there an endorsement of BitIQ by Amazon?
Currently, no empirical evidence exists to establish a connection between Amazon and BitIQ. However, specific customers have reported instances where Amazon branding was utilized in promotional materials by BitIQ, prompting complaints.
Is there an endorsement of BitIQ by Elon Musk?
No evidence was discovered linking BitIQ to Elon Musk, the wealthiest individual on the planet.
Does Bill Gates endorse Bitcoin’s Evolution?
No. There is no substantiated proof of billionaire and philanthropist Bill Gates’ endorsement of BitIQ, and it is noteworthy that he has expressed opposition towards cryptocurrency in a general sense in the past.
Is there an endorsement of Bitcoin Evolution by Martin Lewis?
There is no evidence to suggest that Martin Lewis, a British financial television presenter, has any affiliation or endorsement of BitIQ.
Customer support services for BitIQ.
BitIQ provides customer assistance through both telephonic and electronic communication channels. In order to obtain the contact information of the support team, you must have an active BitIQ account.
How to Use BitIQ, Are you prepared to trade cryptocurrencies using BitIQ?
In a brief time, we shall demonstrate the initial steps to commence your undertaking.
First step: register with BitIQ
Navigate to the official BitIQ website and locate the ‘Sign Up’ button to initiate creating a new trading account. Please provide your full name, email address, and phone number in the designated fields of the registration form. BitIQ employs an automated system to allocate a partner cryptocurrency broker to users based on geographical location. In order to authenticate your account, your broker will necessitate supplementary particulars and a duplicate of your identification. V
The second step: entails depositing funds
BitIQ and its affiliated brokers require a minimum deposit of $250. The accepted modes of deposit are contingent upon the broker. However, it is typical for credit or debit cards, bank deposits, Neteller, and Skrill to be accepted.
Third step: Trial trading
Users will be granted access to the BitIQ trading platform upon completing the registration process. Prior to engaging in live trading, it is imperative to allocate a few moments toward comprehending the mechanics of this trading system. The demo trading mode can be utilized to experiment with the algorithm configurations, navigate the account dashboard, and understand BitIQ comprehensively.
Fourth Step: Continue to commence trading activities using the BitIQ platform.
After achieving satisfactory proficiency with BitIQ and fine-tuning the algorithm parameters, one may commence the intended task. To initiate trading, kindly switch the toggle in your account from demo trading to live trade. It is important to remember that cryptocurrencies are characterized by their volatility, and there is a potential risk of a financial loss if one opts to utilize BitIQ.
How Can I Get My Money Out of BitIQ?
The bot does not control the funds associated with BitIQ but is held by the broker with whom you have established a partnership.
To initiate a withdrawal, please adhere to the following instructions:
- Access the intermediary platform and proceed to authenticate your trading account.
- Choose the option “Withdraw funds” and select the specific currency that you desire to receive.
- Please input the amount that needs to be withdrawn and proceed to confirm the transaction.
- The procedure should be accomplished within a maximum duration of 24 hours.
It is noteworthy that BitIQ withdrawals are processed in fiat currency rather than in crypto tokens. Therefore, ensuring that the appropriate currency is selected for the desired withdrawal is imperative.
How Can a BitIQ Account Be Deleted?
There exist two distinct approaches to removing BitIQ from one’s system. The initial method involves selecting the ‘close account’ option on the boot menu. The alternative method entails visiting the brokerage firm and closing the account. As previously indicated, specific TrustPilot reviews have reported being inundated with phone calls after their attempts to terminate their accounts.
The legitimacy of the crypto trading robot, BitIQ, could not be confirmed in our review. According to its claims, BitIQ can conduct trades on behalf of users for 14 distinct cryptocurrencies. The platform asserts that it can achieve a success rate of up to 90% for trades, provided that the appropriate market conditions are present. According to reports, users purportedly observe a mean daily yield of 25%; however, we could not verify this claim. Therefore, it is advisable to conduct thorough research prior to enrolling. The majority of customer reviews for BitIQ on TrustPilot exhibited a negative sentiment. To initiate the usage of BitIQ, please commence by clicking on the hyperlink provided beneath.
Commonly Asked Questions about BitIQ
Please provide more context or information about BitIQ.
BitIQ is an automated trading software designed for cryptocurrency trading. The system employs an artificial intelligence algorithm to automatically execute trades on 14 distinct cryptocurrencies, intending to generate a profit. BitIQ incurs charges only in the event of a profitable outcome for the user’s account.
Can the legitimacy of BitIQ be verified?
As per the website’s information, BitIQ is a legitimate platform. However, it is essential to note that digital assets are characterized by high volatility, and the risk of capital loss exists. The majority of reviews provided by customers on TrustPilot exhibit a negative sentiment.
What is the process for becoming a member of BitIQ?
To become a member of BitIQ, one may access the platform’s website and select the ‘Sign Up’ option. In order to engage in cryptocurrency trading, it is necessary to establish a brokerage account designed explicitly for this purpose and fulfill the requirement of a minimum deposit of $250.
Who is BitIQ’s owner?
The ownership of BitIQ requires clarification, as divergent assertions exist on disparate online platforms. The company’s ownership in question is held by a firm specializing in trading software.
Does Amazon own BitIQ?
Although there have been reports linking Amazon to BitIQ, our investigation yielded no substantiating evidence to support such claims or to suggest that Amazon provides any form of endorsement for BitIQ.