Qt Bitcoin Trader is a legitimate piece of software. The main question in its regard is not whether or not it is a scam, but whether or not you, a bitcoin trader, need it. It certainly offers functionality much-appreciated by a number of traders, but it is apparently a small-budget creation, which means that some of its features may be convoluted, even impractical to some, and that user feedback – while heard – may not be acted upon in a timely manner.
Exactly what is it that Qt Bitcoin Trader does?
According to its creator, it is an application which helps traders open and cancel Bitcoin trade orders at a number of exchanges, extremely quickly. The program comes with a number of rules traders can set to allow the software to auto-execute some pre-programmed moves, provided the price-conditions are met. Mind you, this is not an auto-trader, nor is it marketed as such. It is a Bitcoin trading software the community has apparently long been waiting for.
The website which features the most information on Qt Bitcoin trader (not sure if this is indeed its “official” site) is a forum, located at Centrabit.com. The application doesn’t seem to have a website of its own, so judging the product based on such website data doesn’t make much sense for now.
One thing is certain though: this is not a cloud mining scheme, this is not an auto-trader, and this is actually destined for the trading of Bitcoin, not some derivatives made available by an FX broker somewhere. Qt Bitcoin Trader works with a number of exchanges, like Bitfinex, Bitstamp and BTC-e, and it even used to work with the now defunct Mt. Gox. Since its inception, Qt Bitcoin Trader has been endowed with support for a number of other virtual currency exchanges.
Qt BT also promises to be easy to use and secure, on top of being fast, a promise to which it has often failed to live up. The connection it uses is SSL-secured, its API keys are encrypted and it has cross-platform- as well as multi-monitor support. It also supports JL script, which is an advanced programming language in which various trading strategies can be laid out and created.
The bottom line is that there is no “too good to be true” offer dangled here: it’s all a grassroots sort of initiative from a single person – from what we could tell – and it absolutely does what it promises to do.
Who is really behind Qt Bitcoin Trader?
Since the program doesn’t have an actual website, we obviously cannot talk about an “About Us” section, or about a Contact page where details such as a corporate address are published. In fact, there is no corporate entity behind the Qt Bitcoin Trader project. From the forum posts here and there, we can glean a few details though, regarding the identity of the Qt BT creator. Apparently, the person’s name is Ighor (it could also just be a nickname though) and he is based in the Ukraine. He is also apparently 29 years old. Obviously, there are no ways to verify these details. The guy apparently also has a YouTube channel where he regularly publishes various hacks and software workarounds, as well as information about Qt Bitcoin Trader. His YouTube profile page says that he is based in the US.
Qt Bitcoin Trader Reviews and Complaints
Bitcointalk features an extensive thread or two about Ighor’s Qt Bitcoin Trader, and the community wholly agrees that the app is indeed legitimate. That doesn’t mean though that they are all content with the features and functionality it provides. The bitcointalk.org thread casts the image of a work-in-progress project, as Ighor listens to feedback and tries to improve his trader, to the best of his abilities.
The first post in the thread was made on May 10, 2013, which is when Ighor registered his account with Bitcointalk. The creator has remained active to this day, answering other posters’ questions and apparently looking to continuously improve his trading app.
Complaints regarding various features of the app have been numerous, although calling these user interjections actual “complaints” may indeed be a bit of a stretch. They mostly consist of feedback from users who are struggling with various aspects of the software, most often with the trading rules, which seem to have a propensity to fail. As it turns out, some of these rules had been incorrectly implemented to begin with. Most of the issues brought up have since been addressed by Ighor, who seems very dedicated to this project of his.
Requests for various features also abound, and given the open-source nature of the project, this is indeed quite natural. Some people have even offered Ighor sponsorship of certain features they requested. Charts have apparently been added as part of such an effort.
The bottom line is that the Bitcointalk community buzz is very positive in regards to Qt Bitcoin Trader and that most posters on there have expressed gratitude to the creator for his dedication.
On Reddit, the community chatter hits a similar note, though on there, people actually talk about having made money with the trader, using their own custom scripts. One poster tells of $5-$25 profits a night made shorting Bitcoin on BitStamp, with custom-made scripts.
Ighor himself is apparently active on Reddit as well.
Qt Bitcoin Trader Review Conclusion
Qt Bitcoin Trader may not be a fully-featured and bug-tested product, but it is certainly a legitimate trading app, which supports an impressive number of exchanges and which does indeed work for those knowledgeable and skilled enough to put it to use properly. The people (or single person) behind it seems eager to make it work. Community-feedback is certainly considered and in most cases acted upon as well.
This one is definitely not a dud.
Please share any feedback about Qt Bitcoin Trader with us by leaving a comment below or sending us an email.
Please join our member list to receive additional crypto currency reviews from us directly to your inbox. It’s easy to subscribe to the ScamBitcoin.com blog by entering your email in the sidebar subscription box.