The idea that everyone will once use Bitcoin – China’s digital currency remains a significant trigger of puzzles and speculation worldwide. At its peak, machines could mine close to a third of the world’s total bitcoin, making hundreds of people believe that Bitcoin will one day transform the world and substitute the dollar.
In 2017, the value of bitcoin went slightly over $20,000, and people who invested in bitcoins indeed garnered hundreds of dollars in profit. With these revolutions surrounding the Chinese digital currency, dozens of bitcoin trading platforms have cropped up – including BitQT.
At a glance, BitQT is a platform that promises to help ordinary people make hundreds of dollars from trading bitcoin using a cryptorobot. After researching expert opinions, one notable element about BitQT is how it advertised an automated trading platform that promises to help individuals rack up profits in an incredibly short period. Well, according to our review, this platform just added to a network of hundreds of other get-rich-quick schemes that have infiltrated media agencies and affiliate networks.
BitQT Review A Scam?
BitQT is undoubtedly a clone of the BitXT app and was probably designed by the same people. While BitXT was primarily meant to attract non-English speakers, we found out that the scammers had to create the BitQT app strictly for English speakers.
Without a doubt, one question that will ring in everyone’s mind is why the scammers didn’t create a common platform with separate languages. As we’ve seen in previous cases, scammers create duplicate platforms to lure unsuspecting investors into a treadmill of money wastage.
When we tried the platform with our 250 deposit, we got a call from an unprofessional sales representative – something we anticipated given our current track record, and especially after receiving hundreds of complaints from users. Further scrutiny revealed that the platform was connected to an infamous broker website registered in Sofia, Bulgaria – an unknown legal jurisdiction.
Most of the complaints that triggered our investigation into this shady application were mainly the inability to withdraw funds. Additionally, users claimed that they were conned by brokers who deny that an investment was made, even if there is sufficient evidence showing the transaction history.
All of these observations pointed to the conclusion that BitQT is a cloned version of BitXT and other get-rich-quick schemes. If you’re still a little doubtful about this trading platform, read on to learn more about what BitQT claims against our findings.
What is BitQT?
Essentially, BitQT is a cryptocurrency trading application that claims to open and close trades for you. It’s been argued that this generation of cryptorobots has powerful algorithms that produce signals on the upcoming market trends and predicts whether the price will rise or fall. When you visit the official website, the application argues to feature the following program capabilities:
- A fully automated trading cryptorobot
- A success rate of up to 95%
- Minimum daily payout of $110
- Requires only 20 minutes of daily trading time
And now what adds to our astonishing discovery is that BitQT is free, so you may be tricked that you can rake in thousands of dollars a month without moving a finger. One element that raised a red flag is the cloned application, and when you take a closer look, you will notice the same sales text on how “Bitcoin Is Making People Rich.”
In this case, the BitXT platform is strikingly a duplicate of BitQT. Despite being rolled out almost the same time, the only disparity is the market segment for which each was created. The worst part is how the platform tries to make generic testimonials from profiles created by images copied directly from the web. When we looked at the BitQT testimonial section, we could see a profile named “Christina Wartburg,” giving laser-similar testimonials for both BitQT and BitXT. A quick search of her image led us to a website called “Guardian Soulmate” – that has since been shut.
As if that’s not enough, the bottom section of the BitQT app website sealed our findings of a laser-accurate scam through an undeniable similarity between BitQT and BitXT. You don’t have to be a missile engineer to comprehend the junk used to lure victims into such scams effectively. At the same time, BitQT used the exact content used by Bitcoin Revolution and Bitcoin Rush scams.
Besides the fake investor testimonials, here we found another fake review site that endorses the BitQT app scam in such a generic manner that it’s so simple to notice something fishy. Worse still, there is a generic CNN website that tries to brainwash sellers that “BitQT seamlessly generates profit for its users.” This website is also called a “pre-lander,” and it works by triggering interest to the viewer even before they sign up for the platform. After receiving reports that the platform features fake celebrity endorsements, we inquired and found out that Prince Harry and Meghan Markle were used for the cloned website.
How Does It Work?
BitQT is portrayed heavily as an award-winning app that delivers signals to your trading business with a 95% trading accuracy. The scammers have not only cloned the platform but made investors believe that it beats the competition because it’s ahead of the market by 0.01 seconds. Despite being a blatant lie, the keep on claiming that it’s better owing to its speed. While BitQT is supposedly a high return cryptorobot, it isn’t entirely risk-free. In other words, they recommend that you invest only what you can afford to lose.
On their homepage, you’ll fill out a registration form, after which you verify your contact details and agree to the terms and conditions. You’ll also need to approve to be added to their mailing list. Afterward, you’ll be directed to a partner broker’s page to verify details and confirm your identity – a vital measure recommended by all regulatory bodies to offset the possibilities of money laundering.
BitQT app has a resource center that helps traders navigate through the application and benefit from most of its capabilities. From a trading manual to a mammoth of video tutorials that explain the risk management process, the app also comes with a demo trading account to help investors learn what’s important to them.
Besides, there is a regular trading webinar that updates users on the latest elements of the cryptorobot. To help you track the dynamics in the crypto space, BitQT also offers a trading calendar that trades volatility and allows investors to take advantage of highly volatile market events.
Once you comprehend the basics of automatic trading, you’ll be directed to switch to live trading mode. The owners recommend that you pay more attention to risk settings and invest only what you can afford to lose.
Additionally, the owners recommend that you run the BitQT app when the volatility is high, usually between 8:00 AM to 4:00 PM EST time. That is the period through which trading is at its peak.
They further claim that it’s wise to switch off your cryptorobot at the end of each trading day to avoid rollover fees. The broker charges such fees on trading positions that are left running overnight or through the weekend.
Besides encouraging users to avoid disrupting their daily schedule when using the cryptorobot, the owners reportedly claim that the platform can automatically make money for the users with zero effort (of the users). They further argue that they should reinvest at least 70% of the payout.
BitQT Review – Scam!
Undoubtedly, scammers have been apathetic over the years and have been cloning their scams, only modifying their identities. Despite their dozens of promises and how good they look on the website, the trust is that BitQT is not a program at all. Everything you find on their website is a scam and pure fiction. Like most online scammers, BitQT has presented itself like Casper – the “friendly ghost,” but the truth is that it’s a bear encapsulated in sheep’s clothing ready to devour you. They look good and claim to help people rack in hundreds of dollars in the payout. However, the following pieces of evidence revealed otherwise.
A Cloned Scam At That!
At first, BitQT looks a bit different from other trading platforms, but it’s a replica of another hoax that’s just changing its name and adding minor modifications. From the respective functions, properties, and results of trading using the system, the platform looks incredibly identical to BitXT, Bitcoin Era, and Bitcoin Loophole. Since the messages in the landing pages are closely similar, we can effectively conclude that we’re dealing with the same fraudsters here.
The BitQT system features a calculator operated by a cryptorobot that calculates how much you can earn from your investment. You’re prompted to input your investment, after which the system calculates the amount you can make in a month.
If you, for instance, deposit $1000, the calculator outputs a payout of about $5000 in just a month. Simply said, the platform promises to give you up to 80% passive income on your investment.
Every sane person will realize that that is nothing but nonsense. While such a successful transaction can happen in a month, it’s not something you can expect to receive every month. It’s virtually impossible to multiply capital on such an immense scale repeatedly, so BitQT is a blatant scam.
Our preliminary checks revealed that some generic profile under “Christina Wartburg,” whose profile picture was copied straight from the web, gave an identical review – both to BitQT and BitXT. What particularly struck is how they altered her profile before pasting a generic testimonial to each website. Without a doubt, this testimonial only added to our pile of evidence against this platform, but we thankfully found legitimate reviews from their official website.
As we expected, you’ll find made-up stories of people who made money out of it slightly more than the stories of people who had a horrific experience. Almost everyone who invested their money in this platform narrates a chilling encounter of how they were dubbed to believe that BitQT is a legitimate platform – only to end up being scathed financially. Corresponding discussions included people asking several questions and follow-ups of how they will get their money back.
The BitQT App
One element common with fraudsters is the immensity with which they overrate their trading apps. They claim that beyond being powerful, the apps have incorporated efficient cryptorobots that help you trade, and BitQT isn’t an exception.
After registering for BitQT, you’ll access the platform in demo mode, whereby the system automatically begins trading. You’ll see slight losses and exaggerated profits that far outweigh the losses, consequently making your account increase. Based on this trend, several people will most likely conclude that BitQT is a platform that reaps immense payoffs, but that’s far from the truth.
If you go ahead and trade your real money, you’ll be astonished by how fast your cash fades, because there’s no doubt trading cannot be faked.
BitQT is not a trading program based on solid strategy, but a sensational application that creates an aura of making you feel that you’re earning real money. If you haven’t noticed the inconsistencies from our previous premises, the following evidence will perhaps convince you.
When you look at the bottom of their website, you’ll find a “confession” written in small caps, where the developers admit that it’s nothing but a fictitious program and that everything is made up. The owners probably think it’s ethical to tell many lies first, after which you sanitize the lies with a confession, but that’s totally not okay.
Illegitimate trading platforms have a framework entailing a mesh of interconnected fraudulent “affiliates” that only aid in propagating fake news. It starts with fake reviews on a broad range of websites that claim to be honest, but they’re only advertisements sponsored by fraudsters.
Besides trying to compound this wave of illusion that BitQT is a real platform through various mirror CNN and BBC websites. When you take a closer look, however, you’ll realize there is some difference in their addresses and have nothing in common with the real media.
BitQT Review – Conclusion
BitQT claims to be a profitable and user-friendly platform created for everyone. Nonetheless, BitQT has nothing to do with trading software. Not a single person in the universe has been able to propagate their money using such phony trading apps.
If it were real, everyone would have quit their 9-5 job and started trading. But since it’s a proven fact that BitQT isn’t what it claims to be, garnering huge profits using this platform remains an exaggeration.