Bitcode Prime Review 2024 - Is it Legit or a Scam?

Our Investigation Result: Bitcode Prime is Legit!

Having undertaken extensive research and investigations, we can assume that Bitcode Prime may well be a legitimate crypto trading platform. All claims made by the platform appear to be accurate.

If you are interested in signing up for a free account with Bitcode Prime, then use the link below to get started and an account manager will walk you through the process.

Bitcode Prime Summary

What Is Bitcode Prime?

Bitcode Prime is a trading bot that trades on behalf of its users by setting buy and sell entries, booking profits, and implementing stop losses across trades without little human intervention.

The emphasis is on automation as the bot’s main goal is to ease the trading process by abstracting the technical analysis needed to plan trades and automate the execution process.

What we end up with is a bot that makes trading so easy that anyone can use it to become profitable in an otherwise volatile and harsh market.

Who Created Bitcode Prime?

Like many other trading bots, Bitcode Prime’s developers are anonymous. However, the trend we’ve seen among trading bots is a team of traders, mathematicians, and software developers with experience in quantitative trading.

How Does Bitcode Prime Work?

Bitcode Prime runs on an AI algorithm that treats market data as discrete variables and runs permutations to detect relationships or strong correlations between values or data types. This allows the bot to understand what is going on in the market and react profitably.

The algorithm does this on a fundamental or technical basis. The fundamental part focuses on qualities and metrics that affect the prices of the cryptocurrencies it trades.

Examples include news events, specific updates like new exchange listings, changes in macroeconomic conditions usually revealed through key reports like inflation, and changes in crypto regulatory frameworks in key countries.

On the technical side, the algorithm uses indicators and statistical models to break down and make sense of quantitative market data. Examples of indicators include the Relative Strength Index which measures the strength of price movements, the Bollinger Bands which measures market volatility, and the Moving Average which measures the trend over a specific period.

The algorithm combines these data points to paint a holistic picture of the market. It then tests its models on historic market data to measure accuracy. The most accurate models are then used on live market data that exhibit similar patterns with the historical, and because the market moves in cycles, there are always similarities.

The bot then creates trade signals and sends them to its users either as an email or notification (depending on their preference). If the user prefers to automate the entire process, the bot executes the trade immediately.

To trade, the bot uses financial instruments called Contracts for Differences (CFDs) that are pegged to assets like stocks, currency pairs, and commodities like oil and cryptocurrency. They track the price of underlying assets and can be traded with a broker.

These contracts allow investors to trade cryptos without having to own the actual asset, thereby reducing trading costs. It also allows users to access leverage facilities that may not be available if they traded real assets. We dive into CFDs later in this review.

Finally, to execute trades, Bitcode Prime connects to various exchanges simultaneously to buy crypto assets at the best price for investors looking for a good entry point.

Key Features of Bitcode Prime

Portfolio Management

While other bots are geared primarily towards traders, Bitcode Prime makes provisions for users with traditional investing backgrounds by integrating unique portfolio management features that help investors maintain their portfolios by automatically rebalancing the crypto assets according to a set formula or criteria.

Investors can set percentages for each asset in their portfolio while the bot ensures that these conditions are maintained. For example, a user can decide that they want 30% of their portfolio to be always in Bitcoin.

Whenever the price of Bitcoin changes or the user adds more capital to their account, the bot will immediately buy or sell as much BTC as needed to maintain the 30% requirement.

Simple User Interface

Bitcode Prime has a simple user interface that newbies can easily understand. The account dashboard features a plain design and is easy to use, especially for investors who are used to traditional investment platform interfaces.

High Success Rate

At a 90% success rate, Bitcode Prime is a highly accurate crypto trading bot, according to its claims.

Note that this is merely a claim, one that we cannot verify. Our research shows that a success rate that high is rare, even among big banks and hedge funds, hence, we believe that is an upper boundary of the bot’s capabilities.

Nonetheless, the algorithm is advanced enough to be consistently profitable. Investors and new traders rely on this accuracy to manage their portfolios and make a profit.

Demo Account

Bitcode Prime has a demo mode that users can access to trade in a simulated environment. The account uses real market data for both live updates and historicals, hence the only difference between the demo and the live account is that the demo uses dummy cash.

Users can practice with the demo and be assured that their strategies will work similarly in a live account because it would have been trained with the same data sets.

Furthermore, users can access demo accounts without the $250 deposit requirement that several other bot providers impose. Users can access their demo accounts once they create their accounts and pass verification.

Automated Trading

Bitcode Prime features an automated trade execution mode. This is the automated aspect of the bot’s trading capabilities. Once programmed, the bot will execute trades non-stop according to its directive. Traders can participate in market sessions that would have proved difficult due to time differences. The feature also frees up time for traders to carry out other tasks.

AI-Powered Analysis

The bot uses AI-powered algorithms to analyse the market and spot profitable opportunities. These algorithms are constantly being trained by live market data, enabling them to adapt to changing market conditions.

And because it is powered by software, it is not beholden to the same limitations as humans. It can process a lot more data at incredible speeds without making mistakes.

Factors to Consider Before Using Bitcode Prime

Before signing up with Bitcode Prime, ensure that its day-to-day operations, limits, and conditions are favourable.

Costs and Fees: 5/5

Always be aware of the pricing structure of trading bots because they differ with providers. Bitcode Prime does not charge deposit, withdrawal, trading, or maintenance fees. However, it charges a 2% commission on profits made.

When we used the bot, we found that it was a cheap trading companion. We also discovered that the bot would not change the commission if we did not make a profit.

Deposit and Withdrawal Limits and Methods: 4/5

Bitcode Prime requires a minimum deposit of $250 to begin using a live account. You can deposit using debit and credit cards, bank and wire transfers, PayPal, Neteller, and cryptocurrencies. There are also no deposit or withdrawal charges, although your payment provider may charge you.

We found the deposit and withdrawal process to be standard. While the bot supports several deposit methods, we reckon credit card payments are most suitable because they are the fastest and most widely used.

Also, our withdrawal methods were limited to the ones we used to deposit funds. For example, the funds we deposited using PayPal could only be withdrawn through PayPal. We believe it is the same for every deposit method aside from credit cards.

Bitcode Prime does not impose limits on withdrawals. All you need to do to withdraw is fill out a form, and the service processes it within 24-48 hours. Although, we believe that this could be faster as some competitors process withdrawals within 24 hours.

Verification System: 4/5

New account users are required to pass KYC verification by providing a government-issued ID and a proof of address document like a utility bill. Some brokers may also require a source of funds document like a bank statement.

The signup process was smooth for us as our documents were already available. The platform did not ask for more information than was necessary to verify that we were who said we were.

Regulated Broker Partners: 4/5

A lack of regulated partner brokers is a red flag as standard brokers do their due diligence before working with any service. Bitcode Prime partners with brokers regulated by the Cyprus Securities and Exchange Commission (CySEC).

Many of these brokers are also established with strong reputations in the industry. However, we advise you to do your research when signing up with a broker and choose well-known brokers over lesser-known ones.

User Testimonials: 4/5

Independent reviews are a good way to gauge the services of any online service provider. Most of the reviews we found were positive, both from high-authority review sites and individuals.

We avoided using testimonials from the bot’s website or affiliates to avoid bias. Ultimately, our experience corroborates the bulk of reviews.

Customer Service: 5/5

Customer support on Bitcode Prime is available 24/5 via email and live chat. Agents are on standby to answer queries and provide help. We reached out to support several times and got in touch with an agent each time.

However, we also noticed that the team responds more quicker on the live chat than the email.

How Does Bitcode Prime Compare to Other Automated Cryptocurrency Traders?

Bitcode Prime is a cryptocurrency trading bot that shares some similarities with others on the market. However, each trader has distinct qualities, so you’ll want to research thoroughly before you choose a platform.

Here are some other crypto trading robots that you can review:

• Bitcoin Prime: This is a popular trading bot designed to trade Bitcoin CFDs.
• Qumas AI: This robot focuses is specialized in fast short-term trades.
• Immediate Edge: A trading bot with a global reach of over 150 countries.
• Bit Index AI: An AI bot that uses machine learning models to achieve highly profitable trades.
• BitIQ: A beginner-friendly bot.

Is Bitcode Prime a Legitimate Autotrader?

When testing legitimacy, we look at of factors like real user reviews customer service, founding members, and reputation.

We found genuine reviews from people who have used Bitcode Prime well enough to write specific reviews. The general trend of reviews was positive. However, there were one or two reviewers that expressed difficulty in using the platform. While this is not ideal, it is still within acceptable limits as no product is expected to be perfect.

We found Bitcode Prime’s customer service to be adequate when we reached out to them. The service agents were helpful and swift in their responses. However, they could incorporate more communication channels as some users prefer phone calls. Overall, our findings paint Bitcode Prime as a reliable trading bot.

Unfortunately, we could not find information about Bitcode Prime’s founding members. We were not surprised by this because most founders are anonymous, so instead, we judged their reputation by the partnerships that they have and user reviews.

We already established that user reviews are positive, so we focused on partnerships. Bitcode Prime’s partnerships with established brokers solidify it as a legitimate trading platform. Many of these brokers are known in the industry for their strong service and skin in the game.

Is Bitcode Prime Safe?

Bitcode Prime uses SSL certificates to secure its website and user data. They also partner with regulated brokers who implement industry-standard for information protection. User data sits safely behind several network firewalls and platform security features.

Also, the bot does not store users’ funds and, as such, does not run the risk of losing them. It keeps the funds with the broker and accesses them as needed. So far, we have not come across any reports of hacks or breaches in Bitcode Prime’s system. Hence, we believe that the bot is safe to use.

5 Reasons to Use Bitcode Prime for Trading

Bitcode Prime is a cryptocurrency robot automated trader that offers a wide range of features to ease trading and make it more profitable.

Automated Portfolio Re-balancing

Bitcode Prime has a unique portfolio management feature that automatically balances investors’ portfolios. Users can set the percentage of each asset (ideally all crypto assets) in their portfolio and a rebalancing time. At the rebalancing time (which could be hourly, daily, monthly, or quarterly), the bot rebalances the portfolio in the set proportions.

Easy Start-up Sequence

Bitcode Prime’s simple user interface makes it very easy for anyone to start using the bot. In addition to the easy verification which takes no longer than 20 minutes, deposits are processed immediately using payment methods like credit cards, PayPal, and Neteller.

Upon creating a new account, newbies are immediately taken to the dashboard where they have access to all the bot’s features. They also have access to the demo account immediately after they complete registration.

High Success Rate

Bitcode Prime has a success rate of 90%, and while it is not a guarantee, it is among the top bots in terms of success rate claims. Users can rely relatively comfortably on the automated mode to make a profit.

Manage risk

Bitcode Prime allows users to implement risk management policies across multiple trades simultaneously. All users need to do is set up a trading strategy and specify the stop loss parameters.

The bot then works with these parameters to maintain a healthy risk profile. Users can adjust their parameters at any time depending on the market conditions. However, some adjustments may not apply to open trades.

Multiple Asset Options

Traders and investors have access to about 7 cryptos like Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), NEO, and Ripple (XRP). These cryptos serve as a basis for several CFD pairs, providing numerous opportunities for traders to make money.

The bot asset options do not end with cryptocurrencies. Users can deposit and withdraw funds using major Fiat currencies like USD, GBP, and EUR through various popular traditional deposit means.

Best Way to Trade with Bitcode Prime

As a newbie, the best way to trade with Bitcode Prime is to start by familiarising yourself with the platform, trading execution, and management through the demo account. The demo account is a fully featured account that uses live market data and accurate price historicals to simulate the real market environment.

Traders can use this environment to test out new strategies, build discipline as traders, learn how to use indicators, and familiarise themselves with the platform’s features without risking real capital.

When developing a trading strategy, stick to simple parameters like entry levels, exit levels, and stop losses. The entry and exit levels are the prices a trade is opened and closed at, while the stop loss is the price the trade is closed at when in a loss.

Test out new strategies, first against historical data, and then with live data to ensure that the strategies are successful over time. After developing one or two strategies and learning about trading, move to a live account.

You first need to deposit $250 or its equivalent in euros to access a live account. Once you have made a deposit, use the automated mode to run your strategies. Monitor your automated mode every day for the first few days to ensure it executes your strategy as intended.

Once you are familiar with the bot and your strategies are profitable, you may then move back to the demo mode to try out more complex strategies and learn more sophisticated indicators.

Ultimately, over time, you should become an advanced trader who can implement complex and sophisticated strategies to increase accuracy. However, even if this is not your goal, the bots can help you make profits automatically while you focus on other things.

Has Bitcode Prime Ever Appeared On TV?

Bitcode Prime, like many other popular crypto traders, has been the subject of several rumours that link it to popular TV shows, and even some celebrities. We go into research mode to determine whether there was any truth to these rumours. Here are the findings:

Shark Tank

Shark Tank is an entrepreneurship show in the US where upcoming business owners pitch their ideas to a panel of business tycoons in hopes to get financing and support. While several technology-related businesses have been on the show, we did not find evidence that Bitcoin Prime ever featured on the show.

Dragons Den

Dragon’s Den is a UK version of Shark Tank. Similar to the former, rumours are rose that representatives from the Bitcode Prime featured on the show to secure financing to build the platform. Our research shows that this is false as no one from Bitcoin prime has ever been featured on the show for official purposes.

Has Bitcode Prime Ever Been Endorsed by a Celebrity?

Bitcode Prime has not been endorsed by any celebrity that we know of.

Elon Musk

Elon Musk is the CEO of Tesla and most recently, Twitter. He is known to be closely involved with cryptocurrency in the past, even earning himself the nickname the Doge Father due to his involvement with the cryptocurrency, Dogecoin.

Elon has also been embroiled in a series of controversies around crypto. A good example is his large Bitcoin purchase early in 2021 and his subsequent sale months later which pulled its price down.

Despite Elon’s involvement with crypto, our research does not indicate that he has been involved with or endorsed Bitcoin prime.

Snoop Dogg

Snoop Dogg is an American rapper and businessman known for heavy involvement in the NFT space. Snoop has worked with metaverse projects, like Sandbox, where he held a concert in their metaverse project.

Despite his partnership with NFT projects and his involvement in the space. Our research does not show any indication that Snoop Dogg is affiliated with or endorses Bitcoin prime.

Mark Cuban

Mark Cuban is an American billionaire who made his fortune by selling his broadcast streaming company in the early 2000s. Since then, he has been involved with several projects that intersect with the cryptocurrency space.

He is also a known cryptocurrency and NFT advocate, speaking out for the technology on popular TV shows. However, despite Mark’s various affiliations with cryptocurrency, none are with Bitcode Prime.

Trevor Noah

Trevor Noah is a popular comedian and host of the talk show, The Daily Show. He is known to cover various topics including business and technology and has covered the technology and NFT space several times on the show.

However, he is not affiliated with Bitcode Prime, neither has he talked about the show the platform on his show.

Bill Gates

Bill Gates is the founder of Microsoft, a technology behemoth in the modern world. He is known to be involved, either personally or through several Microsoft programs, with technology startups. However, he is not a fan of cryptocurrency and has expressed disdain towards the industry. Hence, all rumours about him endorsing Bitcode Prime are false.

Tips for Using Bitcode Prime Safely and Managing Risk

Always Use 2FA

Two-factor authentication is an extra security measure that ensures that the person logging into an account is the owner by sending an authentication code to a third-party device that, presumably, only the legitimate owner can access.

It is a security measure put in place to ensure that even if the password of an account is compromised, the account will not be breached. Use two-factor authentication immediately after you register for an account to ensure its safety.

Bitcode Prime supports authentication through SMS or an authenticator app, the most popular being Authie or Google Authenticator.

Don’t Over-Invest

Investors, especially new investors, fall into the trap of over-investing especially when they have a couple of good trades. This is a wrong approach that sooner or later results in financial ruin.

Instead of over-investing, set aside a portion of funds, ideally money you can live without, and use that for your portfolio. Exert more granular control by setting guides for position size based on your overall capital. A rule of thumb is to not risk more than 2% of your capital on a single trade. For example, if your account size is $2000, the risk on each trade must not exceed $40.

Always Take Profit

As a newbie, you may want to reinvest your profits into your account to grow the account and in turn earn more profit per trade. While this is a sound way to grow an account, it is not advisable to reinvest all the profits made into growing the account as a couple of bad trades, combined with poor risk management, could wipe out your entire capital.

Instead, reinvest only a portion of profits into your account while taking out the remainder and using it for something else. It is recommended that you remove the remainder away from the trading platform entirely and perhaps put it in a high-yield savings account or invest it in a non-correlated asset class. This way, you create a balance so that you will have a financial cushion to rest on if trades don’t go well.

How to Use Bitcode Prime - Step-by-Step Guide

To begin using Bitcode Prime:

1. Register for an account

To register for a Bitcode Prime account, you’ll need an email address, phone number, and your full name. Navigate to the website and fill out the registration form. An account will be created for you and a verification e-mail sent to your inbox.

2. Complete the registration form

To complete your registration, you must verify your account. The verification process is a standard KYC process that involves you submitting a government-issued ID like a driver’s license or a national ID card and proof of address documents like a utility bill or a bank statement.

After verification, Bitcode Prime will refer you to a partner broker to create an account. This broker will store your funds and provide the trading terminal to use the bot. To sign up with them, use the same documents as the step above although some may also ask for a proof of funds document like a bank statement.

3. Develop a trading strategy

Trading strategies guide your robot’s actions and enforce risk management policies across trades. As a newbie, your risk trading strategy does not have to be complex. All you need is an entry price point, an exit price point, and a stop loss to manage risk.

Ideally, you develop your trading strategy and test it using a demo mode. The demo mode allows you to ensure that your trading strategy works as intended by using real market data so that the result you get in the demo mode mimics the live trading environment.

4. Make a deposit

To access a live account, you need to deposit some funds. The minimum required amount is $250 through either a credit card, PayPal, Neteller, or a bank transfer. The Fiat currencies supported are USD, GBP, and EUR. If you do not have any of those currencies, you can still deposit by using the credit card payment method as your service provider automatically converts between currencies. However, this might come at an additional cost.

5. Set up automatic trading

Once your account is funded, you will be granted access to a live trading account. You may then access the bot’s automatic trading mode and execute your trading strategy.

Bitcode Prime Assets, Market, and Options

What Assets Can You Trade Using Bitcode Prime?

Bitcode Prime supports seven major cryptocurrencies namely Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), NEO, IOTA, and EOS through CFDs.

CFDs track the price action of cryptocurrencies, allowing traders to trade them without having to own the underlying coins. The contract pays the difference between the opening price and the closing price to the party who predicts the price movements accurately.

Traders can open either long contracts (bet that prices will rise) or short contracts (bet that prices will fall).

For example, if a trader opens a Bitcoin long contract at $20,000 and closes it at $23,000, their profit will be $3,000. If the price were to fall to $18,000, The same trader would lose $2,000.

CFDs also allow traders to take advantage of leverage facilities where brokers lend money to help them set larger positions to increase profit.

What Leverage Trading Options Are There with Bitcode Prime?

Bitcode Prime offers leverage of up to 5000:1, allowing traders to borrow up to 5000x more than they invest to open positions. This is very risky because higher leverage comes with higher risk. If the risk management policy is not effective, traders with such leverage could end up losing their entire capital.

A 5000x leverage is far above the industry standard in regions like the US and is not advised, even for expert traders. Exercise caution when trading with such high leverage.

What Are the Spreads on Bitcode Prime?

Bitcode Prime’s official website offers little information about the spreads. However, they claim that the spreads are competitive.

Can I Use Bitcode Prime in My Country?

Bitcode Prime Review - Final Thoughts

Bitcode Prime helps traders become profitable by automating much of the required analysis, execution, and monitoring needed to be a profitable day trader.

Its most compelling feature is the automatic portfolio rebalancing component that manages investors’ portfolios according to set parameters. The bot maintains several assets within a portfolio in specific proportions no matter the price changes of each asset or the amount of capital put in.

The bot claims a success rate of 90%, and while this is not a guarantee, it is higher than most of its peers. Bitcode Prime also makes it easy for new users to set up an account and get started with the demo mode. Traders can go from no account to running a trading strategy in about 30 minutes thanks to a simple user interface.

To begin trading, you’ll need to deposit a minimum of $250 through a bank transfer, electronic wallet, or crypto. However, the demo account is available to use regardless of deposits.

Go to the Bitcode Prime website to begin.

Review Methodology

We review crypto robots by aggregating various tests, reviews, and testimonies across the web, allowing us to give you a balanced view that accounts for multiple perspectives. Check out our why trust us and how we test pages for more information on our testing process.

We are aware that the internet is full of false testimonies: there are several purported trading robots out there that are, in fact, scams. For this reason, we find it important to compare information from across the internet in our Bitcode Prime review.