Qumas AI is one of the most trending crypto trading bot tools in recent months, with a high interest in trading circles looking for tools to help them beat the current crypto winter. Not much information is yet available on the Qumas AI website without making a new deposit, nor on online Qumas AI reviews as this tool is relatively new and is a proprietary automated trading platform, however it has been gaining attention in a variety of crypto news media outlets and on social media. In this review we attempt to piece together answers to some of the common questions from investors such as ‘how does Qumas AI work‘, ‘is Qumas AI genuine or a scam‘, and more. We also highlight some Qumas AI alternatives. What is Qumas AI? We’ve reviewed many ‘Bitcoin robots‘ and general crypto trading bots on this site, and Qumas AI is one of the latest additions to that largely unregulated market. It describes itself as a powerful, intuitive trading platform and its slogan on advertising material is: ‘Invest smart. Build wealth. Retire early. Live free.’ Other reviews of Qumas AI describe it as an ‘automated analysis and trading platform designed to help traders make money from the market‘ capable of scalping and swing trading on behalf of the user, supporting over a dozen popular cryptocurrencies including Bitcoin, Ethereum and other big caps like Ripple (XRP). Reportedly some support for forex trading is also offered. There also appear to be various Qumas AI website links – users should do their due diligence when searching for information on this new auto trading platform. The Qumas AI platform states it supports integration with popular trading tools like Meta Trader 4 (MT4) as well as offering its own web trading platform and Qumas AI app for mobile devices. Visit Qumas AI Site Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection. Qumas AI Deposit The Qumas AI minimum deposit is stated to be $250. A personal broker reportedly may get in touch with investors via email or phone to assist with their deposit, or bank transfer to make an investment, and create an account. Bear in mind however that Bitcoin robot and crypto robot software is unregulated – only invest what you can afford to lose, start with a minimum deposit and test out the withdrawal process to check payouts are legitimate. Qumas AI Platform – Is it a Scam? Little information is available about the Qumas AI platform itself which as mentioned appears to be proprietary software. Some investors asking is Qumas AI a scam or legitimate may wonder why no screenshots are available. One graphic appears on the website stating users who make a deposit and signup for an account will be able to ‘Get access to our innovative trading platform. Experience its easy-to-use and seamless design. Available from both a desktop computer and a mobile for a complete trading experience. The availability of a Qumas AI app, if legitimate, and the choice to trade in-browser or via MT4 (or potentially MT5) software would be a bonus. The Qumas AI signup page we found also has the usual disclaimers for using crypto robot software – ‘You need to be aware that you can lose money when you invest. Terms and conditions apply. CFDs are complex assets and carry a high risk of losing money due to their leverage effect. We are required to tell potential investors that our software’s past performance does not necessarily predict future results, therefore you should not speculate with capital that you cannot afford to lose. Qumas AI is not supervised or regulated by any financial agencies nor US agencies.‘ Also bear in mind there are several other popular crypto trading bot tools with similar names, such as Bitindex AI and BitAlpha AI. It’s unclear if these auto trading sites have the same founders and developers. Visit Qumas AI Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection. Qumas AI Media Mentions In terms of whether Qumas AI has been featured in the media or endorsed by a celebrity – according to our research we found: Qumas AI Elon Musk Billionaire business magnate Elon Musk has made many comments on Bitcoin, crypto in general, and altcoins such as Dogecoin and Shiba Inu. In January 2022 on his Twitter he confirmed that Tesla would accept DOGE as a form of payment for merchandise. However he is yet to tweet about Qumas AI. The Qumas AI robot appears similar to Quantum AI, another popular crypto robot which some claim is linked to Elon Musk although that also can’t be verified. Qumas AI Amazon Similarly there isn’t any evidence of a connection between Amazon and Qumas AI, nor former CEO Jeff Bezos. Often any ‘Amazon token’ advert online is a scam aimed at beginner crypto investors. In the same vein reports of Jeremy Clarkson of Top Gear or Martin Lewis of MoneySavingExpert using crypto bot software are unfounded. Qumas AI TrustPilot There is one TrustPilot Qumas AI page with a rating of 2.9 / 5 however that is only based on two reviews. Those describe it as a boiler room that coldcalls users and makes exaggerated claims of Elon Musk using Qumas AI and other celebrity endorsements on MSN Money. Its unclear if those users visited the correct Qumas AI website link as one refers to a ‘Qumas.com’ and also to ‘Qumas AI io’, which aren’t the official site. Qumas AI Reddit There isn’t currently a Qumas AI Reddit subforum or ‘subreddit’ for Qumas AI reviews or testimonials. One thread in r/Cryptocurrency describes Qumas AI as being profitable for them. No moderators comment on these claims however. Qumas AI Youtube Beware of Youtube videos advertising any form of Qumas AI airdrop – crypto airdrop promotions unless from reputable sources are usually scams. Crypto airdrop scams work by prompting you to connect your Trust wallet or Metamask wallet to a website the scammers set up, which then drains all funds and crypto tokens from your wallet. Avoid airdrops that don’t take place on an actual crypto exchange such as Binance or Coinbase. Qumas AI Facebook There are no active Facebook groups related to Qumas AI that give in-depth details of the Qumas AI trading robot software and user feedback. The Qumas AI tool is generally difficult to find information on. Qumas AI Twitter Accounts claiming to be the official Qumas AI Twitter account may be fake and/or bots attempting to spread phishing links. Exercise caution if following Qumas AI website links on social media. Does Qumas AI Work? A demo version of the Qumas AI has not been made publicly available for backtesting, and there are few user testimonials to back up the winrate claims. The Qumas AI software claims to use high-frequency trading (HFT) and be able to connect to a network of crypto exchanges. A Qumas AI demo account is said to be available for users that create an account, for new signups to paper trade with virtual funds. The real version of the Qumas AI bot then appears to be able to be set up to be fully automated, or allow some user input and oversight if preferred by the end user. How to Sign up to Qumas AI – Steps Various Qumas AI reviews online describe the sign up process as straightforward with the following steps: 1. Sign Up To register a Qumas AI account, visit the Qumas AI website and fill in the information as prompted in the top right corner. Currently that’s your name, email address, and telephone number, then click ‘Register.’ A copy of your government issued ID or other KYC (know your customer) documentation is not required. Instructions on how to use Qumas AI and get started with its members-only bot are then sent to the investors’ email. 2. Deposit Funds To begin trading with Qumas AI, you will need to deposit the funds you wish to trade with, i.e. the initial capital. Qumas AI supports deposits using credit / debit cards – Mastercard, VISA, Maestro, etc. The minimum deposit on Qumas AI is $250 although according to online reviews this is occasionally lowered during promotional periods. 3. Browse the Demo Account Qumas AI provides registered users who deposit with a demo account to test out investing strategies and review the platform. When you are ready to being your investment, move onto the real platform which can be set up to be automated and alongside Qumas AI is said to be able to trade the volatility in Bitcoin, Litecoin, Bitcoin Cash, DASH, EOS, IOTA, ZCash, and a range of other altcoins as well as currencies if the user is experienced in FX trading. 4. Withdraw Profits Once you are set up and making money online, be sure to withdraw earnings (known in trading as taking profit, or TP) regularly. Qumas AI states it offers a dedicated account manager and telephone support to assist in this. Qumas AI claims to not charge any commissions – offering zero commission trading and no hidden charges. They may however charge a spread to cover operating costs. Advantages of Robot Trading Qumas AI and similar automated trading software – if legitimate – could offer an investment opportunity for anyone interested in generating passive income online in 2023. Compared to traditional swing trading, day trading or a simple buy and hold (affectionately known as HODL) strategy it has its advantages and disadvantages: Pros More accurate position entry and exit points Mathematically optimal stop loss calculation Risk / reward (R:R) factored in No human error Unbiased, emotionless trading Lesser gambling addiction risks Cons Trading bots are unregulated Robot trades can still fail in very volatile market conditions A trading bot API (application programming interface) can be hacked Conclusion – Is Qumas AI Legit? The Qumas AI cryptocurrency trading platform is currently trending and popular online, which conveys a certain level of legitimacy. However our review team have been unable to verify the specific claims made on user testimonials in terms of its winrate, backtesting, historical performance and more. The Qumas AI website offers little information in that regard until users make a deposit and log in. The crypto markets are currently experiencing a correction which would make a good case for the use of trading algorithms or ‘bots’ to generate profit more consistently from its price action. Most human traders lose, especially if using leverage and CFD trading (‘contracts for difference’). However traders should do their own research before depositing large amounts of real money funds onto a trading robot platform as this industry is known for scams. It isn’t possible to 100% verify the existence of or claims made by the associated Qumas AI software, due to it being proprietary and requiring a minimum deposit to sign up to and open an account. Investors should proceed with caution and consider splitting up their portfolio into a long-term investing portion which they put into cold storage, and a smaller portion they allocate to speculative crypto robot software. All trading carries risk. Traders might also want to try out several bots – see our list of crypto trading bot tools and the section below – and only deposit the minimum on each until they can verify the winrate and ROI for themselves. Also request a cashout early on to test out the withdrawals – for example withdraw your principal investment once you’re in profit, so that trades after that are risk free. Read More Best AI Cryptos Visit Qumas AI Website Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection. Automated Trading via Exchanges – Qumas AI Alternative An alternative to using a crypto bot like Qumas AI is to use the copy trading feature on eToro.com – this FCA, ASIC and CySEC regulated cryptocurrency platform allows you to mimic the trading decisions of a winning, profitable trader of your choice, or several. As mentioned we recommend diversifying your portfolio by allocating part of your funds into a long-established, safe and reputable platform such as eToro – never invest 100% of your cryptocurrency into one trading bot or hold it on one website, broker or exchange. Start with a minimum deposit on any platform you use, and make a small withdrawal as a test. Copytrading on eToro is similar to using a bot in that you can grow your investment without having to monitor it, trade yourself or make any decisions – all buy, sell, take profit and stoploss orders are automated. The platform also supports staking rewards for holding Ethereum (ETH), Tron (TRX) or Cardano (ADA) in your free wallet, a source of passive income. eToro - Automated Copytrading of Profitable Traders Our Rating 83.7% Average Annual Returns with CopyTrader™ feature Review Traders' Performance, choose from 1 - 100 to Copytrade No Management Fees Free Demo Account Social Media & Forum Community - Trusted by Millions of Users Start Copytrading 68% of retail investor accounts lose money when trading CFDs with this provider. FAQs Is Qumas AI a scam? Since the Qumas AI software appears to be proprietary and require a deposit to use, we can't verify if it works as described. We recommend to only deposit the minimum if you decide to invest using Qumas AI to test if it really works. Can I make money with Qumas AI? The winrate claims on Qumas AI affiliated sites claim thousands of dollars can be made per day, however it's unclear if these are sustainable or exaggerations made for marketing and advertising purposes. Is Qumas AI safe? To ensure safety you could set up a virtual bank account using e.g. Revolut and only provide those card details when signing up to Bitcoin robot and crypto robot software online. That way the virtual card details you provide only have a fixed sum of funds in them, to protect you from scams, fraud and hacking attempts. Also use a burner email. It's generally impossible to tell whether or not a standalone crypto trading bot tool is legitimate or not. My antivirus displays a phishing warning for Qumas AI? This could be a false positive, however we also recommend creating separate email addresses that you use to sign up to crypto exchanges and platforms, rather than your main personal email - this lowers the risk of phishing. What are Bitcoin robots and crypto robots? Automated trading software programs use algorithmic trading to respond to market movements faster and more accurately than most human traders can, setting limit orders to buy and sell to scale into and out of a position and maximise profits. It's an unregulated market however and many purported crypto trading bots are scams.