BitIQ Review
BitIQ is an automated trading robot that can be used to trade and invest in Bitcoin. The complicated algorithm that drives the software is used to select and execute the best trades for investors. Those who have not yet tried automated trading can switch to manual trading and independently open or close positions with the provider.
But can BitIQ be trusted? Can I do anything with BitIQ? What are the good and bad things about it? We took a close look at the provider and tell you why we think BitIQ is good.
Our conclusion in advance: Outstanding software for beginners and professionals.
What is BitIQ?
BitIQ is a so-called automated crypto robot or trading robot that is designed to automatically make money for its users. These trading platforms utilise the latest technology and complicated algorithms to automatically make the best trades for their clients.
Because of the way the BitIQ software works, customers can expect to make a lot of money. But it is not clear how this algorithm or the associated software works. However, we do know that experts and analysts have worked together to develop software that leads the crypto market in 0.01 seconds. In other words, the software behind BitIQ uses indicators and trading signals to find the best trades before they happen.
Trading software has been used on the financial market since the early 1990s. In the case of cryptocurrencies, however, this type of software has only become established in recent years and is now also available to private investors.
The company that developed the trading bot, the BitIQ Group, says it took several years to train the autotrading software to the point where it can make money even in the most complicated market situations. In line with the bot's name, it is also said that artificial intelligence has been used.
BitIQ is very easy to understand and can be used by both new and experienced traders. But it's a good idea to know the basics about cryptocurrencies. That way you can customise the trading bot to your needs and earn as much money as possible.
How does BitIQ work?
Most trading robots work in the same way as BitIQ. The software that runs them consists of a lot of complicated algorithms and AI. It monitors the cryptocurrency market using technical indicators and trading signals to find out when the best time to buy or sell the cryptocurrency is.
After you have signed up for a BitIQ customer account and made a deposit, you can start live trading. You can also define all settings in advance, e.g. when you want to stop and when you want to stop. After you have made a deposit, BitIQ works independently. However, you should keep an eye on the trading robot, as you can stop it if necessary.
After you start trading in real time, the software keeps an eye on the cryptocurrency market and the latest news and headlines on the subject to help you make the best trades.
Previous experience with BitIQ shows that the autotrading bot can make a lot of money. However, how big these profits are depends on how much money is put into the trade and how the market is performing at the time.
Which cryptocurrencies are supported by BitIQ?
During our BitIQ test, we looked at whether the trading bot can trade with different cryptocurrencies or whether it only trades with a few coins. We can say that the number of tokens that can be traded is good for a crypto robot. At the moment, there are 14 different cryptocurrencies that can be used. Among them are many such as BTC, ETH, LCT, BCH and EOS.
The platform also enables trading in US dollars, euros and pounds sterling. In this way, users are protected from currency fluctuations and do not have to pay any additional fees for exchanging their money.
The BitIQ advantages and disadvantages at a glance
Of course, there are both pros and cons to trading software that you should carefully consider before signing up. Trading robots such as BitIQ are investments that are particularly suitable for people who don't want to take too many risks with their money.
Advantages
- Thanks to AI, trading can take place automatically
- For both new and experienced traders
- The chances of winning are good (the higher the deposit, the higher the winnings)
- Registration is simple and easy.
- Clear groundwork
Disadvantages
- No demo account
- Exaggerated marketing
BitIQ is an experiment in investing, just like other trading robots. It is primarily aimed at investors who are prepared to take risks. Even if the software utilises and evaluates the latest market trends, a certain amount of risk remains. Even software can make mistakes. Nevertheless, there are plenty of opportunities for profit, which of course also depend on how much you stake. But you should also bear in mind how volatile the market is.
BitIQ and other trading robots are more accurate than manual trading, but it is impossible to predict price changes and the impact of politics and the economy. Therefore, you should always be sceptical about trading robots. It also doesn't hurt if you already know a lot about the subject. At the very least, you should read up on the cryptocurrency market in advance and be aware of the risks involved in investing.
BitIQ Open an account
If you would now like to try out BitIQ yourself, you must first create an account.
Registration usually only takes a few minutes. As is usual in the industry, the registration form for BitIQ can be found on the homepage of the crypto robot or at the bottom of the website.
Registration with BitIQ & Login
First, go to the BitIQ website and look for a form to fill out on the first page. You can either sign up right at the top or you can read through the website and then create an account at the bottom. There are also tips on how to trade on the website.
To register, you must complete the form with your first name, surname, e-mail address and telephone number. You will then receive a confirmation e-mail with a link to confirm your account. Check your spam folder if you cannot find the e-mail in your inbox.
If you click on the link in the e-mail to confirm your account, you have already registered with BitIQ.
The deposit
To start trading, you need to make an activation deposit of 250 euros on the BitIQ platform. As with most trading robots, this amount is fair and typical for the industry. You can also use a bank transfer or credit card here. Even though opening the account is free, you will still need some money to start trading.
Deposits are processed immediately and there are no fees for deposits.
BitIQ says that the processing is carried out by certified brokers. The main task of these brokers is to ensure that deposits are secure.
Automatic trading at BitIQ
BitIQ doesn't have a demo account like some other autotrading services, so you can't try it out first. Nevertheless, our experience with BitIQ shows that the basic idea is the same as with other crypto bots. You can start live trading as soon as you have made a deposit.
You can start and stop the bot at any time, which is important to know. We recommend that you do not let the bot run in the background, especially at the beginning, but rather observe which trades are being made. This way you can stop the bot at any time if something goes wrong.
Our analysis of the technology behind BitIQ
We have thoroughly tested and analysed the BitIQ trading bot to learn more about the underlying technology. Based on our research and conversations with developers, BitIQ appears to use a unique algorithm that combines machine learning and artificial intelligence.
The algorithm was specially developed and trained for the cryptocurrency market. It analyses large volumes of market data in real time to identify pattern-based trading signals. It uses modern techniques such as neural networks, deep learning and Bayesian computing.
How the BitIQ algorithm works
- Continuous analysis of order books, chart data, social media and news
- Recognising patterns and trends with the help of AI
- Evaluation of profitable trading opportunities
- Automatic execution of optimised trades
The great advantage of this algorithmic approach is that emotions play no role and the bot can work around the clock. It can react to market movements at lightning speed and analyse millions of data points simultaneously.
We were unable to find out any specific details about the developers of BitIQ. The company seems to be deliberately remaining vague here. However, it is clear that a highly experienced team of experts with many years of experience in the fields of AI, automated trading and financial markets must be behind it.
BitIQ compared to other trading bots
In our test, BitIQ performs very well compared to other trading robots on the market. The software is easy to use and delivers transparent results. Other bots often promise unrealistically high returns and end up delivering disappointing results.
The focus on cryptocurrencies in particular is a major advantage of BitIQ. Other robots trade shares, commodities and currency pairs. As a result, they lack specialisation. BitIQ focusses only on crypto and is therefore getting better and better in this niche market.
Our conclusion after detailed analysis
After careful analysis and several days of testing, we are convinced that BitIQ is one of the most advanced and promising trading bots on the market. The underlying AI technology is impressive and delivers strong results.
We recommend BitIQ for both beginners and experienced traders who want to realise the potential of crypto bots. With the right settings and appropriate risk management, the bot can generate solid profits.
BitIQ is an excellent solution for participating in the booming crypto market without having to trade all the time. The technology takes over the active part and enables relaxed investing.
BitIQ app in the test
Nevertheless, the BitIQ website is set up to work best on mobile devices. This means that you can trade cryptos quickly and easily via the browser on your phone or tablet. We don't know if BitIQ will have a mobile app or not. Nevertheless, you can use the browser on any device to access the website and trade from there, no matter where you are.
BitIQ Demo account
One thing that is not so great about BitIQ is that there is no demo account. Most trading bots don't need a demo account because the software is already easy to understand. Once you have signed up and deposited money into your account, you can start trading with just one click.
You can also switch the bot off again at any time if you don't like what it is doing. This is a major advantage that should be utilised. We therefore advise every investor to keep an eye on the trades.
BitIQ experience: Is BitIQ good for beginners?
Trading cryptocurrencies is not always easy, especially for beginners. Due to the high volatility of the market, losses can add up very quickly. At the same time, it is very time-consuming to familiarise yourself with the subject matter. This is where a trading bot like BitIQ comes in handy.
The BitIQ Group, which developed the BitIQ trading robot, says it can trade independently on the cryptocurrency market. Modern AI should enable the bot to utilise even the most complicated market situations quickly and effectively. Bit IQ therefore has skills that most beginners do not have.
Our BitIQ Test 2022 also shows that the bot broker's trading platform and user interface are modern and easy to understand. You won't find a confusing menu with too many options here. Instead, the software relieves its users of almost all the difficult decisions.
For this reason, BitIQ could be a good choice for people who are just starting out and don't have much experience yet. Nevertheless, we think it's a good idea to observe the trading robot at least at the beginning so that you can get a feel for how it works.
Is BitIQ reputable?
In our BitIQ test, we were able to establish that it is a genuine trading robot. You can make money with just a small amount of money. But you also have to bear in mind how volatile the market is.
Of course, in the world of autotrading, there are also a few bad apples who will try to steal your money. During our testing, we could find no evidence that BitIQ is not a reputable service.
After you have successfully registered, you have several options for paying. The rest is done by the broker and the complicated software. Of course, it is always good to know a little about the cryptocurrency market. For example, you can also set loss risks and limits. In the best case scenario, you can work with the bot in this way. The experience of BitIQ shows that the performance of the crypto robot also depends on how the crypto market changes.
Is BitIQ a scam or fake?
There are also fake websites on the market for trading robots that steal their users' information and money. In this case, you should find out about the provider in advance and, above all, make sure that it is secure. Since this is the case, it is only natural to wonder whether BitIQ is a scam.
If you want to know if BitIQ is genuine, you can say that it seems to be a trustworthy platform because it does what it promises to do. During our BitIQ test in 2022, we could not find any malicious software or other attempts to steal data that were not genuine. The website and trading platform appear to be completely secure, and all information is transmitted in encrypted form.
BitIQ is an automatic trading programme that does not do much marketing. Plus, the instructions on how to use the software are already on the website. The software is realistic, easy to use and good for people who are just starting out.
The BitIQ Group says that BitIQ uses advanced AI to help its users make money on their own. But we couldn't verify for ourselves whether the BitIQ trading bot really uses artificial intelligence. It makes sense that the developers don't let outsiders see how the trading software really works. But the information we have, and what we've seen with BitIQ, suggests that the trading bot works better than many other products on the market.
Any type of investment involves a certain amount of risk, and because the cryptocurrency market is so volatile, there is no way to know with certainty what will happen to profits and trades. Anyone looking to invest money through BitIQ and similar platforms should inform themselves beforehand and learn how to minimise the risks.
On the whole, however, the software performed well in our BitIQ Test 2022. Nevertheless, we advise beginners to only invest as much capital as they can afford to lose in an emergency. This is a general rule that applies to all investments.
In the end, we can say that the idea that BitIQ could be a fake is in no way true.
BitIQ Payout:
With BitIQ, withdrawing is just as easy as depositing. Depending on what you need, you can either transfer part of the money to your customer account or the entire amount to the withdrawal method of your choice.
However, the method of withdrawal depends on how the customer has paid the money into their account. If you have paid the money into the customer's account by bank transfer, the money will be transferred to your bank account. The same applies to credit cards and other payment methods.
To make a withdrawal, you need a bank account and a photo ID that confirms your identity.
BitIQ Customer service
In our BitIQ Test 2022, we naturally also scrutinised the bot broker's customer service. At BitIQ, this mainly works via email. The email support works very well. Urgent questions are answered quickly. You can also call them, which is not obvious at first glance on the website.
Overall, we have had good experiences with BitIQ's customer service.
Was BitIQ on "Höhle der Löwen"? Was BitIQ on Late Night Berlin?
As with other crypto bots, there are rumours that Hohle der Lowen and Late Night Berlin have talked about BitIQ. But so far we have been unable to find any evidence that BitIQ has been mentioned or advertised on any of these programmes.
The rumours about Hohle der Lowen are not true, and neither are the claims that various investors are behind BitIQ. The rumours about the name are nothing more than unofficial crypto promotion. But these rumours are not spread by BitIQ itself.
If you come across suspicious links or adverts that ask you to click on them, don't do it. It could be a phishing site. These types of links are often posted on social media. They try to hide their own schemes behind legitimate offers and well-known names. But a possible BitIQ scam like this has nothing to do with the trusted provider.
There is also no reason for BitIQ to appear on the German TV programme Die Hohle der Löwen. BitIQ is already a well-known service provider that does not need sponsors or financial support, which the winners of the programme receive.
Reviews from the consumer advice centre, Gutefragen.net & other forums:
As cryptocurrencies are becoming increasingly popular, it should come as no surprise that they are also being talked about in various forums and places. After all, transactions with cryptocurrencies are volatile and come with risks. Therefore, it is also a good idea to read up on trading bots and cryptocurrencies before investing money in them.
It is important to pay close attention to whether or not it is a genuine provider with a good reputation. As already mentioned, there are also a lot of bad people who use phishing links to steal information and sometimes even the money that investors have deposited.
But there are also trustworthy companies that can help you make money. In our opinion, BitIQ is one of them. Before you try the investment experiment, however, you should read BitIQ's privacy policy and terms and conditions.
In our BitIQ test, we also looked at what other people say about the platform and what users say about it. The reason for this is that other people may have had different experiences to us. We have done this to ensure that we have as much information as possible about this crypto robot.
At the moment, there is no evidence that BitIQ is a scam. In fact, many users have good things to say about Bit IQ. For this reason, we can say that our positive review fits well into the overall picture.
Can I cancel BitIQ?
If you wish to close your BitIQ account, you should contact customer service directly. In most cases, a simple letter of cancellation is sufficient to close your account.
Before cancelling or closing a customer account, it is important that you pay out all credit balances.
After you have been paid, you can close your account if you wish. Like other crypto bots, most are easy and quick to stop.
Who is the BitIQ suitable for?
From what we've seen with BitIQ, the trading bot is pretty easy to use. In fact, users don't have much control over the software at all. The user interface is also well organised and simple and easy to use. So BitIQ is a good choice for people who are just starting out and don't have much experience in trading.
BitIQ can help its users save time on a number of tasks that take up a lot of time when investing in cryptocurrencies. For example, the robot can keep an eye on the markets 24 hours a day, 7 days a week. This means you don't have to look at the screen all the time to take advantage of short-term price changes.
A trading bot like BitIQ is also a great way to keep track of boring, repetitive tasks. For this reason, autotrading software is perfect for investors who want to make some, but not all, of their investments themselves.
BitIQ Trading tips - Trading correctly with the autotrading platform
In our review of BitIQ, we took a close look at how the trading platform works. In our BitIQ review, we also looked at how to get the most out of the software to make the most money with the least risk, so that new investors can make the most of their money.
Here are some tips on how to use the platform most effectively for those who are interested:
- Limit your first deposit to a certain amount.
- Check whether the setting options work.
- Reduce the risk that the software is prepared to bear during the first trades.
- When you start trading, pay attention to the software to learn how it works.
- Take profits frequently.
- If you are successful, you will increase your capital over time.
- When the market rises, you should take more risks.
- Learn more about the topic independently so that you can try out new methods.
- The end of the BitIQ test: what we have learnt and what we think of BitIQ
About the author of this BitIQ test
Simone Aescher - Crypto expert with profound expertise
Simone Aescher has the ideal qualifications to analyse and evaluate BitIQ. She has an academic background with a degree in business administration from the renowned Frankfurt School of Finance.
In over 5 years of professional experience in the financial sector, she was able to gain comprehensive insights into the subject matter. She has always been passionate about the financial markets and investments. In 2019, she turned her passion into a career and founded the successful crypto blog aescher-ai.ch.
As an active trader, Simone is constantly testing new brokers, robo advisors and trading apps. With her transparent and honest product reviews, she has been helping her readers to separate the wheat from the chaff for years.
Her in-depth knowledge of cryptocurrencies, coupled with practical experience in testing trading platforms, make Simone the ideal author for this detailed BitIQ review. She combines academic expertise with practical experience and can therefore comprehensively analyse and objectively evaluate BitIQ.
Our conclusion after the detailed BitIQ test
Now that we have used and tested the BitIQ over a longer period of time, we would like to give you our final assessment and recommendation.
BitIQ impresses with strong AI algorithm
Overall, the BitIQ bot leaves a very good impression. The trading performance is impressive and shows that the underlying algorithm works. In the test, BitIQ was able to achieve very solid profits with a manageable drawdown.
The user-friendliness is also positive. The entry hurdle for newcomers is very low and anyone can use the bot productively after a short familiarisation period.
Reputable provider with low risk of fraud
BitIQ gives the impression of being a reputable and trustworthy provider. Fraudulent intentions are not recognisable. The company acts transparently and responds promptly to enquiries.
The software is technically very sophisticated and the server infrastructure is professional. Risk management also works well. Our confidence in the security is high.
Well suited for beginners
Overall, BitIQ is ideal for newcomers to crypto trading. You don't need to have any expertise and can fully rely on the technology. Investors can therefore benefit from the crypto market even as newcomers.
However, you should not underestimate the risks and only invest capital that you could lose if necessary. Stop-loss and take-profit limits are important.
Our specific recommendation
We clearly recommend BitIQ, both for beginners and experienced investors. The technology is convincing and offers access to lucrative profit opportunities.
To get started, we recommend starting with the minimum deposit of 250 euros. Observe the first few trades and then adjust the settings. Only increase the capital and risk slowly. This way you can use BitIQ successfully and with little risk.
The bot also makes it easy for professionals and beginners to participate in the crypto market. It is an enrichment for anyone who does not want to trade all the time. We are convinced that BitIQ is a very good investment.
BitIQ Test - The FAQ
Does BitIQ work in Germany?
Yes, you can get BitIQ in Germany.
Can BitIQ help me get rich?
Most probably not, but you can still earn a little extra money in your spare time.
Is it worth trading BitIQ?
You have to decide for yourself. People who know the basics and want to try this experiment should not deposit more than the minimum deposit amount. With BitIQ it is easy to earn money with a little work.
Do we recommend you to trade with BitIQ?
Yes, BitIQ is a good choice for anyone who wants to earn extra money without investing a lot of time.
Is BitIQ ever used to scam people?
We could not find any signs of fraud in our BitIQ test.
Is autotrading always a bad idea?
It is convenient to trade automatically. It makes it easier for investors to make trading decisions. But it's not a good idea to replace all human intelligence with machines. You should do something yourself and research the market a lot to learn more about good investments. Trading robots are a good way to try out investing, but you should be careful with them.
Simone Aescher is the founder and operator of the successful crypto blog aescher-ai.ch.
After studying business administration at the Frankfurt School of Finance, she gained over 5 years of professional experience in the financial sector. However, her passion has always been the financial markets and investments.
In 2019, Simone Aescher finally turned her hobby into a career and founded her blog. She shares her in-depth knowledge of shares, ETFs, cryptocurrencies and much more.
As an active trader, Simone is constantly testing new brokers, robo advisors and trading apps. With her honest product reviews, she helps her readers to separate the wheat from the chaff.
With her academic background, many years of experience and practical expertise as an investor, Simone Aescher combines the ideal prerequisites for competently analysing and evaluating the financial markets.