BitLQ Trading Bot Review
Knowing that there are so many trading tools on the market that are, allegedly, helping new traders make decent profits but actually never do, it’s hard to separate the wheat from the chaff. Today, in this BitLQ review, we’re explaining how one of the most popular trading apps out there works and making it clear whether it is a trustful or scammy one.
What is BitLQ?
BitLQ is a Bitcoin trading software that is supposed to make trading not only more enjoyable but also more profitable for both seasoned traders and the ones that are not that skilled at trading. In fact, you don’t even have to know how to trade cryptocurrency since trading actually involves very little human intervention.
Novice traders typically don’t know what they are doing and they are making trades without much thinking, and end up losing money and frustrated. Using a bot reduces the chance of making costly mistakes, and makes it fairly easy to begin trading and make profits even without having any prior knowledge.
And, if you know a thing or two about crypto, you already know that being successful at trading requires constant monitoring of the market and keeping up with the news, which can be extremely exhausting and time-consuming. The built-in trading robot is doing all the hard work while still providing users with data-driven information and valuable and accurate info that can help them get the measure of market conditions without wasting hours looking at big screens.
Trading bots, such as BitLQ relieve you of the burden of having to lose sleep and money while trying to make some money. The majority of the trading is done by the bot, although you can set up a couple of parameters yourself.
BitLQ platform can be used on both desktop and mobile devices, without missing on any of its features, and being able to trade on the go is really a dream of any crypto trader.
Key features of BitLQtrading software
BitQL’s modern trading technologies and powerful algorithms track the market and use multiple indicators to determine the right moment to either enter or exit positions. This trading platform leverages the power of AI, which also helps a lot with analyzing the market and spotting opportunities.
Safe and Secure Trading Environment
Crypto markets are, still, largely unregulated, which is why investors measure every move twice. Being aware of numerous sources of risks, the team behind BitLQ implemented a plethora of measures in order to protect users and their digital assets and create a safe trading environment for everyone.
As it’s already mentioned, BitLQ app is easy to navigate for both beginners and well-versed traders. The entire user journey, from becoming a registered user to trading is relatively quick and straightforward.
Superb Trading Efficiency
Data is always tracked and provided in real-time to help both the bot itself as well as the traders make informed decisions. Being able to react to changes quickly without investing much effort results in decent profits and prevents users from losing money.
Maximum Trading Support
Since investors of all levels use BitQL, the platform tries hard to provide maximum trading support to users. New traders can easily optimize default settings, assistance and autonomy levels to find strategies that match their trading needs and risk appetites best.
On the other hand, seasoned traders can experiment with different trading features. In case you have any additional questions, you’ll get a dedicated account manager whom you can contact. BitLQ’s technical support team will answer all of your questions without having you wait for too long.
How does BitLQ software work?
Besides using the classic trading tools and strategies – technical and news analysis, the BitLQ trading app leverages the power of AI and drives data from other crypto trading platforms. It also uses news trading strategies, performs price trend analysis, and arbitrage trading to find the best deals on the market.
Arbitrage trading is immensely popular in the crypto world as it takes advantage of small price discrepancies between assets. BitLQ gathers data from more than 30 exchanges and is capable of performing 50 arbitrage trades in a minute.
The platform also uses NLP –Natural Language Processing to analyze different pages at the same time and to provide effective instructions to the bot. This way, BitLQ skims through the entire market in a matter of seconds and helps traders generate notable benefits (read: profits).
Pros and cons of BitLQ trading software
- Extremely beginner-friendly since no prior knowledge is required to begin trading
- Creating an account is 100% free
- High accuracy rate
- Multiple cryptocurrencies supported
- No hidden fees
- There are no guarantees that you’d make profits by using the app
- The team behind the platform is not doxxed
- No social media presence
- Not available in the UK, the US, and Hong Kong
How to start trading
To start trading with BitLQ, new users should follow the platform’s simple guidelines. It literally takes minutes to get started, and here’s what exactly the registration process looks like.
Creating an account
Register as a new user first, and type in your personal details – first and last name, phone number, and email address. If you are not 100% comfortable with live trading right away, you can use a demo trading account first.
The demo trading feature can help you get an idea of how the bot works and assists traders in making profits by displaying the entire process on an intuitive dashboard. Needless to say, you need no real money to trade with the demo account while using it will make you much more comfortable with investing real cash.
BitLQ app doesn’t require users to authenticate their identities (and not having to disclose all of your personal details is just great), although you should verify your email address to be able to start trading.
All this shouldn’t take more than 3 to 5 minutes and new users are onboarded with no hassle. However, note that the platform works with third parties and may transfer your personal details to some of them.
Making a deposit
As a new user, you should make a deposit before you start trading. The minimum deposit is $250 while you can invest up to $15,000 if you want to. The platform supports multiple payment methods such as credit and debit card deposits, bank transfers, e-wallets such as Paymo, as well as PayPal and Wire Transfer deposits that are typically completed within just a couple of seconds.
Assessing the trading process
From the moment you make a deposit, you can access the trading dashboard, set preferred parameters, make trades, request withdrawals, etc. The BitLQ app supports multiple languages, English, Danish, Portuguese, and Spanish so you can get a better understanding of the trading features and options available.
Trading with the BitLQ robot
Once you have made an account and deposited the funds, you should activate the robot. As soon as you do this, the bot will start analyzing the market and looking for the best deals that would help you make some profits. Since it is automated, the bot reacts to changes in the market and decides on the best trades instantly.
Which cryptocurrencies can you trade with BitLQ?
BitLQ is a trading bot primarily used for Bitcoin trading. However, it actually supports trading 13 other cryptocurrencies, such as Ethereum, Ripple, EOS, IOTA, ZCash, Litecoin, and Neo.
How to select the proper parameters?
Before activating the bot, you can set trading limits to protect yourself from losses. However, BitLQ’s software is highly accurate and most of the trades (98/100) it performs are successful. In fact, some users managed to generate $800 of profits after investing the minimum deposit, which is, as we already mentioned, $250.
How does BitLQ carry out its trades?
Everything is done automatically. The software conducts a detailed analysis of price trends, latest news, and historical charts in order to recognize the best moments for making buy and sell trades. It also tracks past price patterns that can indicate a move to the upside or the downside. Once a close enough pattern is recognized by the bot, a new trade is opened immediately.
Unless you have advanced trading skills, it would be hard to enter and exit positions with such precision. Trading bots, BitLQ included, know what affects the price of cryptocurrencies, which helps them with opening and closing orders at the right time, and optimizing the trading process so that greater profits are generated per each trade. Needless to say, when the bot recognizes an exit signal, it closes the position right away in order to protect users’ funds.
Estimating the daily profit earnings
Giving estimates is quite ungrateful since several factors affect your profits and earnings. First of all, it depends on how much you invest initially. Secondly, it also depends on your risk tolerance and how you set your trading parameters.
Lastly, the crypto market is extremely volatile and how much you can make with the bot will vary from one day to another. Yet, if you prefer number talks, you’ll probably be glad to know that an average daily profit can go up to 25% of your initial investment.
Although using BitLQ trading software can help you generate notable profits, keep in mind that all kinds of investments (stock, Forex, etc.) involve risk, while the crypto trading world comes with some extra risks on top and you should exercise caution. There’s no such a thing as guaranteed profit in this space.
The platform itself uses the stop-loss trading strategy that ends trading sessions that are less likely to end up being profitable in order to protect users’ capital and reduce risks.
On the other hand, users should do their part – create strong, complex passwords, change their access codes once in a while, and never invest all of their money into a single app.
Also, some reviews on the internet are saying things like “BitLQ is a scam” just because they registered with the wrong site. There are other websites out there such as BitIQ or BitQT that are impersonating BitLQ’s official website. If you decide to give the BitLQ trading bot a try, make sure not to register with the fake website, since you’ll only lose money.
Keep in mind that the app doesn’t hold users’ funds but deposits are forwarded to different brokers. If you want to have your peace of mind and ensure your money’s safety, contact the broker directly. In case it is not possible to get in touch with a broker, you’ll know that something’s not right.
Payout and withdrawal
BitLQ platform has a hassle-free, glitch-free payout mechanism, which is one of the main things to take into account when choosing between different platforms.
Although it is possible to make multiple winning traders at the very beginning of using the platform, it is recommended that you start small and withdraw the money as soon as you have generated more profits compared to what you have initially invested. Withdrawing the money you have started with, and leaving the extra cash to the robot to make further trades is definitely an excellent risk management strategy.
Unlike many other trading apps, BitLQ charges reasonable fees. There are no hidden, deposit, withdrawal, or inactivity fees while the platform charges a fixed 2% commission on all profitable trades and profits realized with the help of the trading robot. However, note that you can withdraw funds up to 10 times per month for free, after which some fees may apply. Withdrawal requests can take up to 24 hours, meaning – you won’t be able to get your funds instantly.
Is BitLQ App compatible with your device?
BitLQ trading app can be used on desktop and mobile devices, as well as on laptops and tablets. If you prefer so, you can simply use a web-based interface, while the app itself is compatible with basically any iPhone and Android device. You can easily switch between devices without interrupting the tool at all.
Which Countries Is BitLQ Available In?
BitLQ is available to users from numerous countries, such as New Zealand, Australia, and Singapore just to name a few. In fact, it is available worldwide, in all countries where trading CFD contracts is not illegal. As long as you are able to access the platform’s official website and make an account, you are able to begin trading instantly.
In this BitLQ review, we tried our best to give you an impression of what it takes to use the bot, its trading mechanisms, and your earning potential. So far, it seems like BitLQ is among the trading platforms that can make crypto trading an easy, low-risk task, but profitable above all. It continuously spots opportunities on the market, not even the most advanced traders can’t identify and takes advantage of them. If have decided that you want to become a part of the BitLQ group, invest what you can afford to lose and make frequent withdrawals, just in case.