UPDATE 2 December 2022: Despite the BQT website being up, there is no sign of life for the crypto firm. We were unable to access the exchange through the site, and the company was last active via social media with a Twitter post back in 2022, suggesting the company has ceased its operations.
Accordingly, we have marked the platform as "dead" in our Exchange Graveyard.
To find a reliable exchange where you can start an account, just use our Exchange Filters and we'll help you find the right platform for you.
What is BQT?
BQT is a cryptocurrency exchange from the United Kingdom, and it launched in May 2019. It has been a bit difficult for us to obtain information on this particular exchange. What we do know however is that they refer to themselves as a "social crypto hedge exchange and crypto education platform". The company seems to focus heavily on crypto education.
On the date of first writing this review (18 February 2021), the platform had a 24 hour trading volume amounting to USD 4.7 million according to Coinmarketcap. This trading volume, which was low in February, had fallen even further on the date of last updating this review (2 December 2021). On this date, the trading volume was only USD 1.7 million.
Why do so many exchanges not allow US citizens to open accounts with them? The answer has only three letters. S, E and C (the Securities Exchange Commission). The reason the SEC is so scary is because the US does not allow foreign companies to solicit US investors, unless those foreign companies are also registered in the US (with the SEC). If foreign companies solicit US investors anyway, the SEC can sue them. There are many examples of when the SEC has sued crypto exchanges, one of which being when they sued EtherDelta for operating an unregistered exchange. Another example was when they sued Bitfinex and claimed that the stablecoin Tether (USDT) was misleading investors. It is very likely that more cases will follow.
According to information we have received, US-investors are not permitted to trade at BQT.
If you're from the US and want to find an exchange where you can trade, just use our Exchange Filters and we'll help you.
BQT Mobile Support
Most crypto traders feel that desktop give the best conditions for their trading. The computer has a bigger screen, and on bigger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time. The trading chart will also be easier to display. However, not all crypto investors require desktops for their trading. Some prefer to do their crypto trading via their mobile phone. Fortunately for them, BQT is also available in mobile format as an application for iPhones or Androids.
BQT Trading fees
We have not been able to find any info on this exchange’s trading fees. This is potentially a risk for you as an investor (if you do not receive info on the fees anywhere, there is a higher risk that they are high). Accordingly, we strongly urge you to make your own analysis of fees at this exchange before depositing any funds here.
BQT Withdrawal fees
We have not been able to find any information on this exchange’s withdrawal fees either. The same warnings that are set out under BQT Trading fees are thus set out here as well but for the withdrawal fees. As soon as we receive information on the withdrawal fees at BQT, we will update this review and post them here.
BQT Trading View
Every trading platform has a trading view. The trading view is the part of the exchange’s website where you can see the price chart of a certain cryptocurrency and what its current price is. There are normally also buy and sell boxes, where you can place orders with respect to the relevant crypto, and, at most platforms, you will also be able to see the order history (i.e., previous transactions involving the relevant crypto). Everything in the same view on your desktop. There are of course also variations to what we have now described. Unfortunately, we have not been able to obtain a picture of this exchange's trading view. We promise to post it here as soon as we have been able to access it.
In order to trade here, you must have cryptocurrency to begin with. The only asset class you can deposit to BQT is cryptocurrency. However, if you really like BQT but you don’t have any crypto yet, you can easily start an account with an exchange that has “fiat on-ramps” (an exchange where you can deposit regular cash), buy crypto there, and then transfer it from such exchange to this exchange. Use our Exchange Filters to easily see which platforms that allow wire transfer or credit card deposits.