75% of retail investors lose money when trading CFDs. 75% of retail investors lose money when trading CFDs.
More people are looking to trade cryptocurrencies as the assets continue to show incredible profitability. If you’re a newbie crypto trader, then you should know that reading bots are a great way for you to automate the activity and earn more money conveniently.
BitIQ is an interesting crypto trading bot that has been making the rounds in the crypto market recently. If you want to consider this trading bot, we’ve got an exhaustive BitIQ review UK for you to learn from. This BitIQ review covers everything you need to know about the BitIQ crypto robot, so you can make more informed decisions.
BitIQ a crypto trading bot that automates trades and works on behalf of busy investors. The bot’s goal is to make it easier for you to make money through crypto trading, ensuring that you stay profitable even while you’re not there.
Founded in 2018, the BitIQ trading bot is automated and built to make operating as smooth as possible. Its developers claimed that they made it to especially target newbie traders who are looking to invest but might not know how to begin.
The founders of the BitIQ crypto app have talked a big game about it. They claim that you don’t need any technical experience to operate it. Of course, it definitely helps if you have some prior knowledge to help you navigate the platform better.
Like many of its competitors, the BitIQ trading robot has one unique selling point – making it easier to palace trades, even while you’re not there. The bot monitors the market on your behalf, easing your stress. The bot also takes care of most of the trading procedures, so you won’t need to.
If you’re a newbie crypto trader, you might be wondering how the BitIQ crypto robot works. Our BitIQ review will show you what makes the engines start spinning. Primarily, the BitIQ trading bot uses blockchain technology and artificial intelligence to offer automated and transparent trading.
To ensure accuracy, the trading bot uses tools like advanced price analysts, news trading strategies, and arbitrage discovery to find you the most profitable coins and trade them. The trading bot programming was done using a subset of Natural Language Processing (NLP), which allows it to follow specific instructions and trade on them. This technology allows the BitIQ crypto robot to scan the market and find you the best deals on the best coins.
The bot also uses news and technical analysis to understand the market better. This way, you don’t have to do so much research or keep up with the market’s latest update if you don’t want to. You can program the bot’s algorithm to search for specific people and their activities and take action based on these triggers. Once the triggers are set, BitIQ will scan, analyze, and act accordingly.
BitIQ vs. Other Trading Bots
Other Trading Bots
Entirely free to use
Charges on deposits and withdrawals, as well as trades
Supports multiple cryptocurrencies
Only supports a specific cryptocurrency
Quick downloads and withdrawals
Takes days to process withdrawals
Geat for beginners
Overly complex, only suitable for experts
Quick account creation
Takes days to check your information and authenticate your account
Crypto trading is a highly volatile act. Using trading bots could also be somewhat murky. Deciphering whether a trading bot is a scam or not can be challenging, but we ran through this service for our BitIQ review to find out.
Through our investigations, we found that the BitIQ trading bot is indeed legitimate. Its features are impressive, and we were also able to get some good trades in from our tests.
But, we also understand that many people have had bad experiences with the bot. It isn’t perfect at all, and there are a few tweaks to be worked out – as evidenced by our critique of it in the pros and cons section.
However, you should keep in mind that everyone has unique experiences with trading bots. The fact that a person had a bad experience doesn’t mean that you would – and vice versa.
Also, while our BitIQ review shows that the service is legitimate, you want to be careful when using it nonetheless. Cryptocurrency trading is very volatile, and even the best trading bots make mistakes. So, you need to be very cautious to prevent significant losses down the line. Be sure to watch the market and double-check your strategies before you open a position.
BitIQ: Top Features
A Fee-Free Service
One of the primary benefits of BitIQ is that the bot doesn’t charge any fees. Most crypto trading bots and other services tend to take commissions or fees for helping you make money, but not BitIQ.
Besides not charging for things like deposits and withdrawals, BitIQ also doesn’t charge any hidden fees. So, you don’t need to worry about things like inactivity fees with the BitIQ crypto robot.
Another area where BitIQ edges out a lot of its competitors is in transaction speed. We all know that deposits to trading bots and other crypto services are near-instant. But, withdrawals are where many of them tend to falter.
With most services, withdrawals get processed in days. BitIQ processes withdrawals in just 24 hours. Regardless of your withdrawal channel, you will be able to make your withdrawals in 24 hours.
As any expert trader will tell you, you must enter and exit positions precisely to maximize your profits. We tested BitIQ for our BitIQ review, and we noticed that it opens and closes positions in less than a second.
This means that BitIQ should be able to help you navigate the crypto market and its volatility. As long as you have it set up right, the BitIQ trading bot will handle the rest.
For beginners, BitIQ offers a demo account. The account is included in the software, and you can access it once you join BitIQ. The demo account will help you to acquaint yourself better with BitIQ, so you can navigate the main bot easier when you’re ready.
BitIQ employs Secure Sockets Layer (SSL) encryption to keep your personal information and funds safe from hackers. The bot also makes sure to only route trades through regulated brokers. So, your money is safe.
Another impressive thing we found is that BitIQ supports several cryptocurrencies. This compares favourably with many of its competitors, which mostly focus on one coin. Besides Bitcoin, BitIQ also supports Ether, Litecoin, Bitcoin Cash, XRP, and more.
Quick Registration Steps
Getting started with BitIQ takes just a few minutes. Once you have all of your information ready, you can begin. BitIQ won’t waste your time.
How Do I Begin Trading At BitIQ?
If you would like to begin with BitIQ, simply follow these steps:
Step 1: Create An Account
The first step is to create an account on the BitIQ website. It’s free and easy. Once you visit the website, enter your personal details into the sign up box. You’ll need to fill in your name, email and phone number. Also, you’ll be asked to create a password to secure your account.
Once your account is opened, you need to pass through know-your-customer’s protocols by uploading verifiable documents on the page.
Step 3: Fund your Account
The BitIQ robot requires users to fund their accounts with a minimum deposit of $250. The funding options available to customers include debit/credit cards, Neteller, bank transfers and others.
Step 4: Use The Demo Account
This stage allows you to take the trading robot for a spin. Since using a new UK trading app could be challenging for first time users, the demo option simplifies the onboarding process. The Demo account offers the same features and trading environment as Live trading. The only difference between demo and live trading is the use of actual funds to trade. 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
Once you’ve mastered the demo trading, you can switch to live trading. To do this, we advise you adjust the settings so you don’t get overwhelmed at your first trade. Also tweak the trade and risk level so the bot doesn’t perform beyond your capabilities. Live trading is with real funds so whatever settings you put here could affect the trajectory of your trades.
Once your sure of the settings and are ready to trade with the bot you can click the live button to start a live trading session.
Tips for Trading With BitIQ
Understand the market
Before you start to use a crypto trading bot, you must know how the crypto market works. Learn the basics of the market and know the factors that could drive the price of a coin. This way, you will be able to consider as many variables as possible when designing your trading strategy.
Even if you choose to trade using a trading bot, you will still need to keep some terminologies in mind. A lot of crypto trading bots give you the tools you need to get started, so your difficulties will be reduced.
Learn about your asset
By gaining a better understanding of the asset you’re looking to trade, you can understand its behavior over a period. This will help you to design the right crypto trading strategies.
If you have insufficient information, you will be open to even more risks, which can cause you to lose your money.
As a general rule of thumb, you should only invest an amount of money you’re willing to lose. As a beginner, you don’t want to dive into the deep end immediately. While higher capital will yield higher profits, your losses are also exponentially increased.
Try to be on the safe side when learning the fundamentals of trading, and you can test this knowledge with small sums. Also, always use a demo account while trading to be double-sure of your strategy.
The cryptocurrency market is growing and becoming more complex by the day. But, traders shouldn’t rush into things. Take time to test and backtest, and consider all available options and risks before you start trading.Take your time and only enter into trades when you’re confident. This is an important part of successful trading, and it will save you from making several critical mistakes.
Pros and Cons of using BitIQ
If you would like a summary of our BitIQ review, feel free to check out the trading bot’s list of pros and cons below:
After extensive research, we found that there is no BitIQ app. This is a bit of a letdown – a BitIQ app would have been ideal for traders who want to trade and monitor the market on the go. However, you should know that BitIQ’s web interface is mobile optimised, making the platform easy to access and use.
BitIQ: Bottom Line
As a newbie crypto trader, you understandably face a lot of pressure when trying to find a bitcoin trading app. There are many options in the market, but you need to know which will be suitable for you. The pressure to get a trading bot is worse. These services hold your coins and will be in charge of trading on your behalf. As a newbie trader, you should consider BitIQ. From our research in creating this BitIQ review, we found the service to be legitimate. It has a lot of unique features, and it can be a great way for beginner crypto traders to get into the market.
However, while we consider BitIQ to be a legitimate crypto trading bot, we still recommend that you remain on guard while using the platform. And this is true for most platforms, really. Cryptocurrency trading is very volatile, and you need near-precision to make maximum profits. When creating trading strategies, ensure you check out all parameters.
You will also need to pay attention to the details when you’re setting up the trading bot. While BitIQ will do a great deal to help mitigate your risks, you will need to be careful with your metrics and parameters. The app is also quite supportive, so you get everything you need to place your trades and make money.