BitQT – Crypto Trading Bot Review by Traders

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How to use BitQT – full review

Fraudulent platforms act differently from legitimate companies. A legitimate crypto service will want all its traffic to flow to a single point. Sounds logical, right? You want your customers to reach you so they can get the service.

Fraudulent platforms want their product dispersed across many different website addresses because that’s the way to avoid bad reviews, leverage fake reviews (credibility by volume of review sites).

The first clue is that BitQT is featured by IndexUniverse, a well-known fraudulent fake review website. Following the link they provide, usually, you would end up at a very obscure web address, mismatching the logo and screenshots of the review.

Well, the BitQT does it in a slightly different way, but the marks of the fraud and red flags are there. 

First of all, notice ApexOffer.net. This address has already been connected to fraudulent websites, passing off as a legit crypto trading platform. Then notice the bunch of logos. There are logos of companies connected to safety, like Norton. Although there is no reason for a crypto platform to be connected to an antivirus company. 

The same is with the bunch of financial media logos. This product is not endorsed by CNN, Financial Times, BBC World News, Forbes, or Bloomberg. Searching at each of these platforms, we find no news, articles, or endorsements. 

The next thing we see is a list of names, flags, sums, and what seems to be trading pairs.

However, this tells us nothing about the platform. I mean, I don’t want to say that there are no Nikita’s in India or Emmets in Vietnam, but the names seem random and not connected to the flags they represent. Sums seem arbitrary and tell nothing: are they profits, prices, or what?

Then there is this screen. We don’t see how the trading platform work, no screenshot, just the logo. There is that $250 deposit, which is NOT how legit crypto platforms work. And the disclaimer allows the platform to sell your data to a third party. 

None of this is proof of a scam, but it does raise a very big red flag. First of all, legitimate crypto trading platforms don’t require this big a deposit. Binance, Coinbase, KuCoin, you can start trading with as little as $10, if there is a limit at all.

Plug and play is another red flag. Legitimate crypto trading platforms let you register with mail and then in order to deposit and trade, the customer needs to go through a verification process, as part of Know Your Customer (KYC) protocols. They never share your data with third parties. 

Googling BitQT leads us to five different addresses. Mistakes and inconsistencies are the hallmarks of this type of scam. 

Here we have the ‘wrong’ logo:

Here we have one of the addresses actually in the base of fraudulent websites:

Again, the ‘wrong’ logo here:

Then we stumble upon one of the versions using an old layout connected with a bunch of different sites, known for being fraudulent platforms. 

Again, this product is NOT seen on CNN, Financial Times, Time, or Forbes. Typical red band counting down to foster customers’ fear of missing out (FOMO), with random fake names and pictures claiming to have just made some money.

Trustpilot reviews

Then we head out to Trustpilot. We find several BitQT versions and, of course, we learn why the scammers want to dilute their presence online by sporting several different web addresses.

As you can see, alert warnings of possible fraud and bad reviews describe exactly the same experience typical for this scam. 

Note that this bad review is the only one, yet the number of stars is 3.2 which probably means that there were other reviews, that got deleted. Possibly fake reviews done by the scammers. 

Same thing here, only with an explicit claim by Trustpilot that this version is a scam. Note the poor reviews and number of stars, again a mismatch.

How do these scams operate?

There are several known practices for these fraudulent websites.

• They change names and logos to avoid targeting by market regulators, legit review sites, and agencies (like Trustpilot)
• They ask $250 deposit. Legitimate trading platforms do have minimum investments, but these measure in low figures, typically $10. 
• They ask phone number as part of the registration. Legit crypto services have several layers of identification. The typical platform will ask for email, then proceed with different Know Your Customer verification protocols (scan of ID or other national ID documents). These fraudulent websites usually claim speedy registration with just phone and email.
• They all have disclaimers that make the customer agree with the breach of their privacy. Namely, they make it legitimate for the agents or ‘brokers’ of the fraudulent sites to call the customer (typically they will contact the gullible via WhatsApp). 
• Brokers aggressively pursue customers to deposit the first $250 and then it becomes impossible to get your money back. There are no profits. Another reason to change names and website addresses. Once the number of angry customers mounts up, scammers simply move to greener pastures, abandoning their project.

Final verdict

This is a known scam! Do not fall for it.

FAQ on BitQT