BitiQ Review 2023: Is the App a Scam or Is It Legit?

Is there a safe way to begin trading Bitcoin or other instruments? The BitiQ app indeed claims that it offers one. According to its website, BitiQ can help traders avoid scams by matching them with regulated brokers — for free. Moreover, the BitiQ app can also unlock advanced trading features via its partners to optimise the crypto trading experience of its clients.

These are some bold claims, the likes of which we have all heard before. Many companies in the crypto market give similar promises. They boast of success rates above 90% and claim their trading robot will make you a millionaire in a week. However, most of us have learned the hard way that these are mere scams looking to make a quick buck by misleading people.

Naturally, we got curious about BitiQ. Is the BitiQ app yet another scam? Or is it a legitimate solution that can actually be of use to traders? We’ll find the answers in this BitiQ review. 

What Is BitiQ?

BitiQ is a tool that provides a way for people to start trading Bitcoin and other assets from the comfort of their homes. It brings an introduction to the financial markets in a way that aims to eliminate many of the possible complications when one first begins trading.

In particular, the biggest issue for most traders is finding a reputable broker. After all, there are thousands upon thousands of brokerage companies around. They all make similar statements about the quality of their services, but it is difficult and time-consuming for each trader to try and verify those claims. 

Unfortunately, investors often end up buying into the false promises of a scammy broker. The fear of running into an untrustworthy company alone keeps many people away from trading, even if they are curious about it.

BitiQ claims that it appeared precisely to resolve that problem. It conducts its own research into various brokers and partners with those who meet the highest industry standards. The company then acts as a bridge between brokers and traders, employing a win-win strategy.

On the one hand, brokers have a reason to partner with BitiQ to expand their client base. At the same time, traders using BitiQ are safe because BitiQ only recommends regulated and trustworthy brokers. 

It’s worth noting that BitiQ is not a broker itself. Moreover, it does not charge anything for its services to traders (its partner brokers are the ones who compensate BitiQ with commission fees). We’ll learn more about how the app functions and what it offers further in this BitiQ review.

How Does It Work?

The service BitiQ provides is pretty straightforward.

First, traders sign up on the official BitiQ website (or via the mobile app). After registration, the BitiQ platform automatically matches them with a broker that operates in the user’s region. The company claims that its automated software can find the best match for each client, regardless of their country of origin. However, some special limitations apply to the United Kingdom (see Risk Disclaimer below).

Once BitiQ assigns a broker to the client, the latter can set up their trading account and venture into the world of financial trading.

We appreciated that it didn’t cost anything to try BitiQ’s services. Customers can register and explore what the company offers without a financial commitment. 

Is BitiQ Legitimate or a Scam?

Based on everything we researched when we compiled this BitiQ review, we believe BitiQ to be legitimate.

BitiQ does not need to follow any special regulations because it is a marketing tool rather than a trading app. Its mediation services are entirely legal. In addition, customers can try BitiQ without paying anything, which proves the company is not a scam.

Moreover, novice traders can also learn crypto trading by using a demo account – a trading tool that all BitiQ partners provide.

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Advantages of Using BitiQ

The most significant benefit of using a service such as BitiQ for traders is quickly finding a trustworthy broker. Though this pro is important enough, some additional BitiQ key features are worth mentioning.

Demo Accounts

BitiQ’s partners all have a demo trading feature. Demo accounts are free and operate with virtual money to simulate what a live trading session looks like without putting your invested capital at risk. We highly recommend beginners play around with a demo account first to practice different trading strategies.

Automated Trading Robots

More advanced traders might be interested in the crypto trading bots each broker offers. BitiQ claims that its customers can find a trading robot to help them develop a unique trading strategy and make the live trading process much faster. Still, exercise caution when using automated trading tools — they are best suited for experienced traders.

Wide-ranging Support

BitiQ offers 24/7 live support to help with questions regarding the app. In our experience, the customer support officer we got in touch with was quick and responsive and answered all of our questions. Moreover, traders can also get further assistance from account managers provided by each broker.

How to Register for BitiQ

We found that it was pretty easy to create a BitiQ account. If you are interested in trying out this app, follow the steps below:

Go to the
BitiQ website

or fill the official form

Fill in the
registration form

BitiQ will contact you shortly after to confirm your registration.

Verify your account

You don’t have to do this step, but BitiQ claims it will give you access to additional benefits.

After you register, the BitiQ app will match you with a broker, and you can start trading Bitcoin or whatever other asset you’re interested in. Note that BitiQ’s partners ask for a minimum deposit of $250.

Frequently Asked Questions about BitiQ

Is BitiQ Legit or a Scam?

We found that everything BitiQ claims on its website is in order. The company appears credible, and all of its activities are legal, so it is definitely not a scam.

Is BitiQ Beginner-friendly?

Most people looking for the type of services BitiQ offers are complete beginners. We believe that the app is simple enough, and the design is very easy to follow so that even a novice trader would figure it out without issues. 

Does BitiQ Offer Any Advanced Features?

There are some additional services like advanced trading bots, competitions, bonuses, arbitrage trading, etc., that BitiQ’s partners offer. The exact selection depends on each broker’s trading system. But the trading parameters of these tools are quite complicated, so proceed with caution if you are new to the market.

How Much Does BitiQ Cost?

Using the BitiQ app is free. We also didn’t encounter any hidden fees when testing it. 

Is BitiQ Automated Trading Software?

No, BitiQ is a mediator between brokers and traders. It is not a trading robot. Still, customers can take advantage of auto-trading tools, which BitiQ’s partners provide.

The Rise of Crypto Trading

While this might all sound lovely, you might still be wondering — why should you bother with Bitcoin trading or the crypto market in the first place? 

The truth is, no one can promise you that crypto trading will be profitable. The trading world is fickle sometimes, and there is always a chance you might lose money, even if you use the latest trading bot. However, it is possible to find some profitable opportunities with the right trading strategy and skills as long as you are alright with the trading risks involved.

The reason people like Elon Musk, Mark Cuban, Bill Gates, Kanye West, and so many others are interested in cryptocurrency trading is because it has a lot of potential. New crypto-coins appear all the time, while at the same time, blockchain technology continues to find new real-world applications. All of these developments create more demand for cryptocurrencies, boosting their value.

But even if you don’t believe that Bitcoin and co will be successful, you can use trading to bet against them and profit from their weakness (when that’s the prevalent trend). There are ways to benefit from trading cryptocurrencies, regardless of the current market trends.

Please note that while the celebrities mentioned above have talked at length about their interest in crypto trading, we did not find evidence that they have ever used BitiQ.