Bitlq Review: Is it a Scam? Trade Bitcoin and Crypto
Introduction
Due to their decentralized nature, and high potential returns, cryptocurrencies have enjoyed immense popularity in the last years. Numerous exchanges have appeared in the market to meet the growing demand for cryptocurrency trading platforms. Bitlq is one such exchange. We will be reviewing Bitlq and its pros and cons and answering the question: Is Bitlq a fraud?
What is Bitlq?
Bitlq allows users to trade, buy, and sell cryptocurrencies. It was established in London, UK in 2018. Bitlq is a trading platform that aims to make trading easy and efficient for novice and advanced traders.
Why Bitlq should be considered?
Bitlq has a user-friendly interface and a large selection of cryptocurrencies. It also offers low trading fees and strong security features. Bitlq also offers a mobile app that allows traders to trade while on the move.
Overview of Bitlq’s Features
- Interface that is user-friendly
- Two-factor authentication
- Cold storage
- Protection against phishing
- SSL encryption
- Multiple account types
- There are many cryptocurrencies to choose from
- Trading fees are low
- Mobile app
Bitlq’s User Interface
Interface that is user-friendly
Bitlq’s interface was designed to be simple and user-friendly. The dashboard gives a clear overview about the user’s portfolio, recent trades, and trading history.
Overview of the dashboard
The dashboard shows the user’s cryptocurrency holdings and fiat balance as well as recent transactions. Users can also view open orders and their trading history.
How to navigate Bitlq
Bitlq’s navigation system is intuitive and simple. The top navigation bar allows users to access account information, withdrawal and deposit options, as well as trading options.
Bitlq Security Features
Two-factor authentication
Bitlq provides two-factor authentication (2FA), which adds an extra layer of security to user accounts. 2FA requires that users enter a unique code created by an authentication app in addition to their login credentials.
Cold storage
Bitlq keeps the majority of its cryptocurrency holdings cold, and is therefore not connected to the internet. This lowers the chance of theft and hacking.
Protection against phishing
Bitlq has taken measures to protect against phishing attacks. These include email verification and anti-phishing codes.
SSL encryption
Bitlq uses SSL encryption for secure communication and user data.
Verification and accounts
Types of accounts
Bitlq offers three types of account: basic, advanced and VIP. Each account type comes with different trading fees and deposit limits.
Register here
Bitlq users can register by entering their email address and creating a password.
Verification
Bitlq requires that users complete a verification process in order to increase their withdrawal and deposit limits. To verify your account, you will need to submit identification documents such as a passport and driver’s licence.
Deposits and withdrawals
Supported payment methods
Bitlq accepts multiple payment methods including bank transfer, credit/debit cards, and crypto currencies.
Maximum and minimum withdrawal and deposit limits
Deposits and withdrawals are subject to a minimum and maximum limit depending on which account type the user has.
How to withdraw and deposit funds
You can deposit or withdraw funds by going to the „Deposit“, „Withdraw“ sections in your account. Then, select your preferred payment method.
Trade on Bitlq
Available cryptocurrencies
Bitlq provides a variety of cryptocurrencies including Ripple, Ethereum, Litecoin and Bitcoin.
Trading pairs
You can trade cryptocurrencies using a variety of trading pairs such as BTC/USD or ETH/BTC and LTC/BTC.
Types of orders
Bitlq supports many order types including limit orders, market orders and stop orders.
Trade fees
Bitlq charges very low trading fees. These fees vary depending on account type and trading volume.
Bitlq Customer Support
Contact customer support
Bitlq customer support can be reached via email or live chat.
Response time
Bitlq’s customer service team strives to answer all queries within 24 hours.
Common problems and solutions
Bitlq users often face problems such as withdrawal and deposit delays, and login issues. These issues are quickly resolved by Bitlq’s customer service team.
Bitlq’s Mobile App
The mobile app features
Bitlq’s mobile application offers all the same features as its web platform. This includes trading, deposits and withdrawals.
How to use the app on mobile
Download the mobile app via the App Store and Google Play, then log in with Bitlq credentials.
Bitlq’s Cons and Pros
Bitlq’s Advantages
- Interface that is user-friendly
- Secure features
- Multiple account types
- A wide range of cryptocurrency options
- Trading fees are low
- Mobile app
Bitlq’s disadvantages
- There are limited payment options
- Relatively recent exchange on the market
Is Bitlq a Scam or Legitimate?
Regulations and licenses
Bitlq has been registered under Bit LQ Limited with the UK’s Financial Conduct Authority.
Ratings and user reviews
Bitlq has received positive ratings and reviews from users on several platforms such as Trustpilot, Reddit and Reddit.
Reputation within the industry
Bitlq’s user-friendly interface and low trading fees have earned it a favorable reputation in the cryptocurrency market.
FAQ
What is Bitlq?
Bitlq allows users to trade, buy, and sell cryptocurrencies.
Is Bitlq safe?
Yes, Bitlq implemented strong security features such as cold storage, two-factor authentication, anti-phishing protection and SSL encryption.
How can I register with Bitlq
Bitlq users can register by entering their email address and creating a password.
Which payment methods are available on Bitlq
Bitlq accepts multiple payment methods including bank transfer, credit/debit cards, and crypto currencies.
How can I trade on Bitlq
Bitlq allows users to trade by choosing their cryptocurrency and trading pair, and then placing an order.
What are the trading charges on Bitlq
Bitlq charges very low trading fees. These fees vary depending on account type and trading volume.
Is Bitlq developing a mobile app for Bitlq?
Yes, Bitlq offers a mobile app that works on both Android and iOS devices.
What are the pros and disadvantages of Bitlq?
Bitlq has many advantages, including a user-friendly interface and strong security features. There are also multiple account types and a wide variety of cryptocurrencies. You can also trade with Bitlq using a mobile application. Bitlq’s cons include limited payment options, being a new market exchange and the fact that it is still relatively young.
Is Bitlq a fraud?
Bitlq is not a legitimate cryptocurrency trading platform and is registered with UK’s Financial Conduct Authority.
How can I get in touch with Bitlq’s customer service?
Bitlq customer support can be reached via email or live chat.