BitLQ Review: The payment methods

The BitLQ App

The operators of BitLQ also offer an iOS and Android application in keeping with the times.

With the BitLQ app, there is the possibility to manage one’s trading activities completely on the go.

In addition to open orders and already completed trades, one has access to all positions, overviews and prices.

Neither the iOS version nor the Android version is rated particularly well.

Apparently, you can do exactly the same via both programs as via the web browser as well.

In addition to the options already described, the BitLQ app logically also offers straightforward functions such as making transactions, viewing indicators and trading overviews, and transferring coins to private wallets and checking transactions.

Profile settings can also be changed and the complete transaction history is visible.

BitLQ support did not bother to leave a comment under all BitLQ experiences, but only under some specific reviews.

Deposits can only be made via a private wallet or another exchange.

For this, you have to click on the „Deposit“ button and select the coin for the deposit. Then you have three different wallets to choose from for the deposit:

  • Margin Wallet: is used for margin trading.
  • Funding Wallet: is used for funding other margin traders.
  • Exchange Wallet: is the most commonly used wallet; for buying and selling all cryptocurrencies

Of course, there is no cost for moving coins between the three digital wallets.

You can transfer your funds from one place to another at any time and the transfer takes exclusively a few minutes.

To make a deposit at the beginning, one needs to have his own wallet with cryptocurrencies.

One copies the address of the website’s wallet and enters it into one’s personal wallet.

After that, one can make any transactions from the desired wallet.

However, one has to be a bit careful because BitLQ does not support all currencies.

If you deposit a coin from an unused digital crypto, it will be lost forever.

For the reason, if you are unsure, you should contact the support or browse the website before making your deposit and possibly losing your coins.

Withdrawals work the same way. One selects the desired currency and enters the external address into the system.

Finally, you select the amount of the currency and choose the withdrawal wallet. Then you confirm the withdrawal and the funds are transferred to your private wallet.

The operators of the website support 121 different cryptocurrencies for deposits and withdrawals.

Fiat currencies, however, do not seem to be usable.

Thus, anyone who wants to actively trade with BitLQ must already have their own cryptocurrencies and a wallet.