Is BitQH Trading App Legit or Scam?
Interested in BitQH, but having some second thoughts about it? Find out whether you can trust this crypto trading app with your crypto wallet!
The rate of development of the cryptocurrency market is amazing, as dozens of new projects, tokens, as well as various applications appear every day. Trading is considered one of the most promising and profitable activities in the crypto industry. However, not every novice or practicing trader is able to cope with the increased volatility of the cryptocurrency market.
It is for this purpose that dozens of different applications, projects, and programs are created that help inexperienced users carry out crypto trading and make a profit. However, many of these projects turn out to be fraudulent and made only so that the con artists who created them can get rich quickly. The scamming industry has gone so far that a dedicated site, Scammerwatch.com, was created to help identify dangerous projects. Today, we will talk about the BitQH app and see if BitQH is a scam project or not.
What is BitHQ?
So, let’s start with the main goals of the BitQH app in our BitQH review. The creators position the project as a unique trading platform with a diverse set of tools and protocols for crypto trading. For its activities, the application uses unique systems and algorithms based on artificial intelligence technologies, that allow it to make transactions and carry out active trading without direct human participation.
However, dozens of users began to fill forums and specialized resources, expressing doubts about the reliability and legality of this application. As it turns out, there are many things noted in the functioning of the application which demonstrate that the BitQH application is a scam. This is indicated by several important factors, such as the misleading of users with a dodgy system of functioning and trading.
The main resource of this scam project also raises questions, as it can be called an exact copy of another project. It is due to this that BitHQ managed to attract the attention of users. In addition, dubious legal entities and brokers registered in jurisdictions are involved in transactions. For example, a broker called “Bit Stars” was registered in Belize, which is actively used for money laundering due to loyalist laws.
What Are Crypto Trading Robots And Why You Should Be Cautious About Them
Cryptocurrency trading has gained immense popularity in recent years and it is common to wonder whether you should use a crypto trading bot. This is due to the increased profitability of the cryptocurrency market, thanks to the increased volatility of such assets as Bitcoin and Ethereum. However, not all investors or beginner crypto enthusiasts are able to absorb the huge amounts of information necessary for successful trading.
Special software has been developed specifically for this purpose. Its goal was the implementation of cryptocurrencies in certain trading strategies, wherein the user does not take any action. All that is required from the investor is to provide funds. For the most part, crypto bots for trading have become popular among beginners. And this turned out to be a goldmine for scammers, who promised huge profits in the first days of trading.
It is often difficult even for experienced investors to distinguish a scam from a real trading bot. Such software has a lot of advantages, such as huge savings in human time, the absence of an emotional component in decision-making, and the speed of transactions. However, there’s also a huge risk that the robot will not be able to cope with a sudden and unexpected trading situation and the investor will lose funds.
In addition, a huge number of applications and bots have appeared on the market, which only pose as trading bots, but will in fact empty the wallets of investors. With this in mind, it is not recommended for beginners to use crypto bots for trading, as their understanding of the processes in the crypto industry is insufficient. This makes them easy prey for scam bots.
BitHQ Red Flags
The first alarming signal that inspires uncertainty and raises a lot of questions is that BitQH has two official sites appearing in Google Search. Now, recall your long history of searching for the right information or funny memes on Google, and tell me when did you see two official sites from Apple, Warner Bros, or Tesla? That’s right! Therefore, this is the first sign that something is not right here.
Going to the site, we come upon two very strange moments. The first is that, as it turns out, the application is suitable for stock trading, which is strange given the specifics of the cryptocurrency and forex markets. Combining them in one application seems ridiculous. In addition, the registration form has a field with a phone number for you to enter. Straightaway! No KYC or two-factor authentication.
Because of this, I would like to note once again that there are a lot of projects like the BitQH scam. Such projects use the advancements of the latest technologies for their creators’ enrichment. They promise that only an insubstantial initial capital is required from the investor; the application will do the rest. But at the same time, the applications require users’ personal data, and the con artists subsequently disappear with stolen funds. Therefore, it’s extremely important for novice crypto investors to ignore projects that promise you quick wealth and require your personal data.