Bitcoin Code Review 2021 - Is It Worth It?
Cryptocurrency volatility is generally considered to be one of the downsides of digital currencies but it has also opened up the opportunity for traders to make money by betting on the price movement. Bitcoin and other cryptocurrencies have fundamentally introduced a new asset class for traders and now there is an increasing number of crypto platforms that allow trading using different models - CFDs and social trading being the most popular.
That being said, it's highly unlikely for traders to predict the price movement with considerable certainty as it's dependent on a wide number of factors. That's why automated trading bots are gaining popularity with Bitcoin traders. These bots aim to allow them to buy and sell cryptocurrencies easily while maximizing their profits.In this review, we will take a closer look at one such software; Bitcoin Code.
What Is Bitcoin Code?
Bitcoin Code is reportedly one of the leading and most reliable cryptocurrency trading bots that offer affordable, convenient, and user-friendly crypto trading to all types of users. It claims to use a complex algorithm for identifying the best buying and selling opportunities for maximum profitability.
The robot can be used both in automated and manual modes, but the automated variant is the real highlight as it eliminates all issues and challenges associated with trading.
Who Created Bitcoin Code?
Bitcoin Code was reportedly developed in 2016 by Steve McKay, a talented software developer. He had a deep interest in computers as well as coding since his childhood and started programming at an early age. This fascination with coding also pushed him towards pursuing a degree in computer science.
The platform states that as Bitcoin made its way into the mainstream, Steve McKay identified the potential of earning profits by observing the volatility of the cryptocurrency. That drove him towards automated trading bots. He wrote an experimental software to test whether he would actually be able to earn profits, which proved to be immensely successful. Having an entrepreneurial mind, he saw the opportunity and transformed his software into a full-fledged trading bot we know today, as Bitcoin Code.
Start Trading in 3 easy steps
Signing up on Bitcoin Code is a fairly straightforward process. You need to fill out a digital form with standard personal information including your first and last name, contact number, and email address.
To deposit your initial working capital, you need to click on the deposit feature which will lead you to a new window. From here, you will gain access to your account with your existing broker in which you are going to deposit your funds.
Define all of your preferences and trading criteria and set the auto trade option to "on". From here, Bitcoin Code's trading robot will get to work so it can start making you some money. Just keep checking in every once in a while to see how robot is performing.
Pros & Cons
Key Features of Bitcoin Code
No Fees or Hidden Charges
One of the best things about Bitcoin Code is that it doesn't charge any fee from traders and there are no hidden commissions for using the bot or making transactions. Everything you deposit and earn is completely yours.
High Success Rate
Although there are other crypto bots on the market, Bitcoin Code is reported to have one of the most accurate trading platforms for amateurs and professional traders alike. The website claims that inexperienced traders can also earn money as the robot does the trading on their behalf.
It isn't a software or an application, instead, it's a web platform. This means that you can access your account from any device using a browser if you have an internet connection. It works on all devices including PCs and smartphones.
Trade Many Cryptocurrencies
Bitcoin is the most popular currency on the platform but other prominent digital currencies are available as well including Ripple XRP, Ethereum, Bitcoin Cash, Litecoin, Dash, and more. You can also use it for fiat currency trading.
It makes it quite easy for beginners to start trading with its intuitive and user-friendly UI and UX. Setting up your account is a quick process and all you need to do is specify the trading criteria to start earning money.
Easy Withdrawals & Deposits
It's quick and easy to deposit and withdraw your funds. The service accepts a variety of bank cards as well as electronic wallets such as Neteller. You can withdraw your money within 24 hours by submitting a form.
Practice with Demo Account
If you are new to bitcoin trading, you can use the demo account to learn the ins and outs of cryptocurrency markets. The demo account can also be used for testing and evaluating a range of different trading strategies before you invest your real money.
Low Minimum Deposit
To set up your account, you only need to deposit a sum of $250 which acts as your trading capital. However, you don't need to stake all of your money to start trading as you can do so by putting up as little as $25 for each trade.
24/7 Customer Service
This trading bot has professional and experienced customer care staff that helps traders in navigating the platform, answering questions, and addressing their concerns. Moreover, you can reach out to a customer services representative at any time of the day.
Is Bitcoin Code Legit?
The bot makes many claims which may sound too good to be true to many sceptics. However, Bitcoin Code seems to have a proven track record according to the testimonials posted by its users. The presence of round the clock customer service means any trader who has questions or is facing any difficulty can reach out to a customer rep and get his concerns addressed. This also speaks to the legitimacy of the auto trading bot. Moreover, testimonials and video reviews on the internet that seem to be genuine are mostly positive.
5 Reasons to Use Bitcoin Code for Trading
Higher Probability of Earning Profits
It has a better-claimed rate of success compared to some other crypto trading bots, which means, according to Bitcoin Code's website, traders have a higher chance of earning from your investment with this robot.
Intuitive & User-Friendly Interface
The bot has an easy learning curve as even non-tech savvy people can familiarise themselves with the ins and outs of the interface in no time.
With Bitcoin Code, all you need to do is fill a withdrawal form and your broker will process it and send the payment within a window of 24 hours.
Using automated trading mode, crypto traders, including amateur investors, can potentially start earning profits after setting up their trading preferences and "set and forget".
To our satisfaction, all of the referred brokers were compliant with regulations and best practices which helps in keeping your investment safe and sound. That said, you should always take the time to check the regulatory status of the broker that you are referred to.
What's the Best Way to Use Bitcoin Code?
If you have signed up to generate passive income, the best way to get into trading is to start with the demo mode. It allows you to become familiar with the UI and how the algorithm works without putting your money at risk. Moreover, listen to what experts are saying and follow their advice.
As a new trader, it’s a better idea for you to use the automated trading mode. It will only ask you for your preferences and trading criteria and all the other operational tasks such as technical analysis and order execution will be done automatically. Never forget to specify your stop loss and take profit limits which will help you manage your risk.
Has Bitcoin Code Ever Appeared On TV?
Just like many other popular services, this crypto trading robot has also been a subject of many rumours over the years. The most prominent seems to be the one where it is claimed that Steve McKay pitched the idea of an automated trading bot on famous investment shows in the US and UK. We've tried to get to the bottom to find if there's any semblance of truth to these claims.
Although similar trading software has been pitched on Dragons' Den, they were far different from the algorithm coded by Steve McKay who never went on to the show. This does demonstrate the legitimacy of the concept but the people who pitched their idea lacked the expertise and experience required to turn the trading robot into a commercial success as Mr McKay did.
Similar claims have been made about it being featured on the US investment show called Shark Tank. However, our research shows that there's no evidence to back that claim. Not a single episode of Shark Tank features Steve McKay pitching his idea to Kevin O'Leary, Mark Cuban, and other investors on the panel.
Has Bitcoin Code Ever Been Endorsed by a Celebrity?
Rumour mill around Bitcoin Code has also churned out a few interesting claims that the trading bot has been endorsed by celebrities, high-profile entrepreneurs, investors, and high net worth individuals. We also tested these claims in the light of available evidence.
While the founder of Microsoft has often backed Bitcoin and cryptocurrencies, there's no evidence of any interview or session where he specifically mentioned this trading bot.
The eccentric founder of Tesla and SpaceX was said to be behind the trading bot but our research once again demonstrates that while being a big fan of decentralisation and democratisation of currency, Elon Musk has never explicitly endorsed this trading system.
The technology guru who has funded many businesses over the years was claimed to have endorsed Bitcoin Code but it was easy to find out that there is no evidence to suggest that claim is true.
5 Ways You Can Maximize Your Success
Regardless of how great an algorithm is, always keep in mind there is never 100% guaranteed success when it comes to crypto trading. That's why you need to exercise due diligence to minimise your exposure to risk and maximise your profitability. Here are a few pointers which can be helpful to you.
Don't Invest More than You Can Afford to Lose
Once amateur Bitcoin traders start seeing returns, they often make a big mistake of staking all of their savings. That's a poor investment strategy. Remember, there's no certainty that the bot will yield similar results in the future even if its historical performance has been flawless. Some people feel that investing a lot of money will earn them bigger returns but that is a very risky belief regardless of how great the algorithm is.
Start with a Small Working Capital
Even if you've enough disposable income, it's never a great idea to go all-in, right from the start. Instead, you need to familiarise yourself with the market dynamics and how the software works to ensure you're getting the optimal return on your investment. That's why you should always start with a small amount of money and as you rack up profits, gradually increase your working capital. This will result in organic growth in your profits without putting yourself at too great a financial risk.
Don't Invest All the Profits
When you are earning great returns, it's tempting to invest all of your profits back into the system. Keep in mind that investment is all about making rational decisions instead of relying on your emotional responses. Depending on your investment strategy, set aside a certain percentage of your profits as savings and use the remainder to grow your working capital. This strategy will ensure that you aren't putting everything at risk.
Keep a Record of Your Financials
Many traders make a big mistake of not maintaining a proper record of their bitcoin trading which can lead to multiple issues. Having a record of buying and selling means you always have access to factual information whenever you need it. It can also help you determine your tax liability on your capital gains that you've earned through cryptocurrency trading.
Listen to the Cryptocurrency Experts
If you're unsure about what strategy to follow, it's a better idea to rely on experts' advice. Professional traders who have had years of experience in trading cryptocurrencies and other assets usually have the insight to make accurate predictions and suggest strategies that are more likely to work out. With experts' recommendations, you can also learn risk management.
With a number of features like zero commissions and fees, intuitive user interface, easy signup, quick verification, and automated trading, Bitcoin Code makes for an exceptional crypto trading bot you can rely on to trade on your behalf, according to the testimonials of its users.
However, never let the strengths of a trading bot lure you into a false sense of satisfaction. All types of trading, including cryptocurrency trading, can be highly volatile and subject to a number of factors that are out of anyone's control. That's why you need to exercise caution and never invest all of your savings.