Bitcoin Code Review 2022 - Is It Legit or a Scam?

Bitcoin Code
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As institutional traders pour into the crypto market, they bring sophisticated tools to help keep them ahead of the competition. One such tool is trading bots. These software machines run on complex algorithms that execute sub-second trades.

Retail traders are not left out as commercial robots exist that help automate trades and carry out analysis so the layman can also benefit from algorithm-powered trading.

This Bitcoin Code review looks into a popular crypto auto trading platform with bold claims. It dives into what it is, how it works, key features, its pros and cons, considerations to make before signing up, and how to get started using Bitcoin Code.

Bitcoin Code Summary

Minimum Deposit

$250

Fees and Commission

2% on profitable accounts

Claimed Success Rate

99.4%

Supported Cryptocurrencies

8+

Deposit and Withdrawal Fees

None

Trading Platform

MT4

Demo Account

Yes

Verification

KYC

Regulations

CySEC

Table of Contents

What Is Bitcoin Code?

Bitcoin Code is a crypto trading bot that executes trades on behalf of its users. It runs on an AI algorithm that tracks market prices and spots opportunities to buy low and sell high or vice versa profitably. It claims to be one of the leading and most reliable cryptocurrency trading bots that offer affordable, convenient, and user-friendly crypto trading services.

The main goal of a trading bot is to use artificial intelligence to analyse the market and create profitable signals so that traders don’t spend considerable amounts of time carrying out analysis, and can execute trades even when they sleep.

The Bitcoin Code platform promises a success rate of 99.4%, a high rate even among trading robots, and a 0.01-second execution speed

Who Created Bitcoin Code?

Bitcoin Code is a cryptocurrency robot that was created by an anonymous group of crackerjack software developers and talented ex-Wall Street traders. Not much is known about the bot’s creators as being anonymous is a trend among crypto software developers.

Nevertheless, they claim that their robot can help traders make a lot of money through automated trading.

How Does Bitcoin Code Work?

Bitcoin Code reads market data, analyses the relationships between variables like price and volume, and uses artificial intelligence and machine learning algorithms to mark out optimal buy and sell points. The software then executes trades on behalf of the traders, which means that they don't have to spend hours in front of the computer screen.

The robot comes with two major modes: manual and automated. The manual mode analyses the market but does not trade. Instead, it sends signals when it spots good opportunities. The automated mode, however, carries out analyses and executes trades on behalf of its users.

The platform interface is designed to be user-friendly and easy to navigate, so even newbies can use it.

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Pros & Cons

Pros

  • Registration and verification are relatively quick
  • Fast execution speed at 0.01 second
  • Low fees. Traders only pay when they make a profit
  • Manual and automatic trading modes
  • Forex and stock market trading

Cons

  • $250 minimum deposit too expensive for some
  • Associated brokers may charge for trades

Key Features of Bitcoin Code

User Friendly

Bitcoin Code was built with both expert and newbie traders in mind. The intuitive user interface is easy enough for novices to use while still packing the custom settings that advanced traders need to deploy trading strategies.

Multi Crypto Support

Bitcoin Code supports more than 8 cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin SV (BSV), Tether (USDT), and EOS.

Customer Support

Bitcoin Code support agents are available 24/7 via live chat and email but only for active accounts.

High success rate

Bitcoin Code claims a 99.4% success rate, one of the highest among its peers. Note that this claim has not been extensively tested and should not be taken as a guarantee.

Payments Methods on Bitcoin Code

Bitcoin Code’s payment methods are not as flexible as some of its counterparts. Nevertheless, it accepts deposits in major fiat currencies like USD, GBP, and EUR through payment channels such as credit and debit cards, and the electronic wallet Neteller.

Start Trading in 3 easy steps

Registration

Signing up a Bitcoin Code account 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.

Make a Deposit

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.

Start Trading

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.

Factors to Consider Before Using Bitcoin Code

We've reviewed some of Bitcoin Code's key features, and we've awarded a score to each of the key factors you should consider before making a decision.

No Fees or Hidden Charges: 5/5

One of the best things about the Bitcoin Code trading platform 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: 4.5/5

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.

Web Platform: 4/5

It isn't 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: 5/5

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.

User-Friendly Interface: 4.5/5

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: 4/5

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: 4.5/5

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: 4/5

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: 4.5/5

This trading bot has professional and experienced customer care staff that helps traders in navigating the platform, answers questions, and addresses their concerns. Moreover, you can reach out to a customer services representative at any time of the day.

Bitcoin Code Markets, Assets, and Options

What assets can you trade using Bitcoin Code?

Bitcoin Code supports eight major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), EOS, USDT, Bitcoin Cash (BCH), and Dash (DASH). Using a financial derivative called Contracts for Differences, the bot can trade several crypto pairs by combining them with major fiat currencies like USD, GBP, and EUR as well as BTC and ETH.

These combinations allow Bitcoin Code to offer over 60 CFD pairs that can be traded both ways i.e. long and short. However, the bot does not trade the underlying cryptos directly.

What leverage trading options are there with Bitcoin Code?

Reports say that Bitcoin Code offers its users a 1000:1 leverage facility. This means that traders can borrow up to 1000x their capital to make trades. This ratio is far within the industry average and is suitable for traders. However, beginners still need to exercise caution.

What are the spreads on Bitcoin Code?

Bitcoin Code does not state its spread directly on its website, however, reports suggest that it is quite low, given that the service charges a 2% commission on profits.

How Does Bitcoin Code Compare to Other Automated Cryptocurrency Traders?

Bitcoin Code is arguably one of the best "built for Bitcoin" robots out there. By focusing on one cryptocurrency rather than several, some users report that Bitcoin Code has a more focused interface than other robots like 1k Daily Profit and Yuan Pay Group.

Is Bitcoin Code a Legitimate Autotrader?

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.

Is Bitcoin Code Safe?

Bitcoin Code uses SSL certificates on its web platform to secure user data and there have not been any widespread reports of data breaches. Furthermore, the bot requires every user to pass KYC requirements before creating accounts. 

5 Reasons to Use Bitcoin Code for Trading

Higher Probability of Earning Profits

Bitcoin Code has a higher claimed rate of success compared to some other crypto trading bots, which could translate to a higher chance of earning with this robot.

Intuitive & User-Friendly Interface

The bot has a mild learning curve as even non-tech savvy people can familiarise themselves with the ins and outs of the interface in no time.

Quick Withdrawals

With Bitcoin Code, all you need to do is fill out a withdrawal form and your broker will process it and send the payment within 24 hours.

Automated Trading

Using automated trading mode, crypto traders, including amateur investors, can potentially start earning profits after setting up their trading preferences.

Regulated Brokers

To our satisfaction, all of the referred brokers were compliant with regulations and best practices. That said, you should always take the time to check the regulatory status of the broker that you are referred to. 

Best Way to Trade With Bitcoin Code

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.

As a new trader, it’s better 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.

Trading Strategies and Algorithms

Automated Trading

In auto mode, Bitcoin Code trades round the clock. Traders can trade alongside institutions from different parts of the world and execute strategies even while they sleep. All you need to do is set your parameters and deploy, and the bot does the rest. 

News and Trend

Thanks to its sub-second order execution speed, Bitcoin Code can trade important news events known to cause massive price swings. The bot’s algorithm can ride waves as they begin to pick up momentum.

Arbitrage Trading

Bitcoin Code can be programmed to scan the prices of supported cryptos across various exchanges and take advantage of price discrepancies.

Has Bitcoin Code Ever Appeared On TV?

Bitcoin Code has been the subject of many rumours over the years. The most prominent seems to be the one where it is claimed that the developers pitched the idea of an automated trading bot on famous investment shows in the US and UK. We've tried to find if there's any semblance of truth to these claims.

Dragons' Den

Although similar trading software has been pitched on Dragons' Den, they were far different from the algorithm coded by the Bitcoin Code team who were never on the show.

Shark Tank

Similar claims have been made about Bitcoin Code 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 the developers pitching their product.

Has Bitcoin Code Ever Been Endorsed by a Celebrity?

Bill Gates

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.

Elon Musk

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.

Peter Jones

Claims that the technology guru, who has funded many businesses over the years, endorsed Bitcoin Code surfaced, but it was easy to find out that there is no evidence to suggest that claim is true.

Tips for Using Bitcoin Code Safely and Managing Risk

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 risk exposure 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 the big mistake of trading all of their money. That's a poor investment strategy. Remember that there's no certainty that the bot will yield similar results in the future even if its historical performance has been flawless.

Start with a Small Working Capital

Even if you have enough disposable income, it's never a great idea to go all-in. Instead, familiarise yourself with market dynamics and how the software works to ensure you're getting the optimal return on your investment. Always start with a small amount of money and gradually increase your working capital as you rack up profits. This will result in organic growth 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 reinvest all of your profits. Keep in mind that investment is all about making rational decisions not relying on your emotions. 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 the mistake of not maintaining proper records of their bitcoin trading which can lead to legal issues. Having a record means you always have access to factual information whenever you need it. It can also help you determine your tax liability on the capital gains that you've earned through the cryptocurrency trading process.

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.

Can I Use Bitcoin Code in my Country?

Can I use Bitcoin Code in the US?

No

Can I use Bitcoin Code in the UK?

No

Can I use Bitcoin Code in Australia?

Yes

Can I use Bitcoin Code in France?

Yes

Can I use Bitcoin Code in Germany?

Yes

Can I use Bitcoin Code in Spain?

Yes

Can I use Bitcoin Code in Switzerland?

Yes

How to Use Bitcoin Code - Step-by-Step Guide

To begin using Bitcoin Code:

1. Register for an account

Register for an account using an email address and phone number. You’ll also need to provide some personal information like your name, and age in some cases. Next, you’ll need to submit KYC documents like an ID card and proof of address like a utility bill.

Bitcoin Code sign up

2. Choose a Broker

After creating an account you’ll need to choose a crypto broker. Bitcoin Code partners with regulated brokers around the world to deliver their services to clients in different geographical regions. You may be required to repeat the signup process for the broker. You may also be required to provide a source of funds document. A bank statement should do.

3. Develop a trading strategy

A trading strategy is a set of directives that a bot follows to execute trades. The bot adapts its analysis to the strategy so you need to ensure your strategy is solid by testing it in a demo account first. To keep things simple, set an entry price, exit price, and stop loss price.

4. Make a deposit

Bitcoin Code’s minimum deposit is $250. Funding usually occurs on the broker as the bot does not keep your funds. Ensure that the broker’s deposit methods and limits are favourable when signing up.

5. Set up automatic trading

Once your trading strategy is set and your account is funded, you can begin trading. If you’re a newbie, you may want to stick to the automated mode that trades for you while advanced traders can use the manual mode to exert granular control over their trades.

Bitcoin Code Review - Final Thoughts

Bitcoin Code is a trading bot that relies on an AI algorithm to accurately predict price action and execute profitable trades.

With features like zero commissions and fees, an intuitive user interface, easy signup, quick verification, and automated trading, Bitcoin Code makes for a promising crypto trading bot, according to the testimonials of its users online.

However, never let the strengths of a trading bot lure you into a false sense of security. All types of trading, especially cryptocurrency trading, can be highly volatile and are subject to factors that are out of anyone's control. Keep in mind that its 99.4% success rate is not guaranteed, you can still suffer losses, so exercise caution and never invest all of your savings.

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 Bitcoin Code review.

Frequently Asked Questions

How Does Bitcoin Code Work?

Bitcoin Code uses artificial intelligence to predict where prices will move. It then identifies profitable trade opportunities based on its analysis and executes trades.

What are the risks of using Bitcoin Code?

There is always a risk that the algorithm's predictions are rendered false by external factors. In this case, losses could be significant.

What is the minimum deposit amount for Bitcoin Code?

The minimum deposit amount is $250.

How much commission does Bitcoin Code take?

Zero. There are no fees or charges for using the service and no hidden or sneaky commissions.

Does it take a long time to verify my identity?

Not at all. All Bitcoin Code needs is your contact number and email address to ensure there's a real person behind the computer with an authentic identity. It doesn't take more than 20 minutes.

Has this software been endorsed by a celebrity?

So far, to our knowledge, not yet. There are multiple rumours about it on the internet but all of them lack any tangible evidence.

How much time will it take to withdraw my profits?

To get your funds, you have to fill out a withdrawal form. After submission, your broker will process your payment within 24 hours which will reflect in your bank account.

Is there a Bitcoin Code app?

No. There is no Bitcoin Code app. The bot is browser-based and works with the MT4 trading terminal.

For apps check our full best crypto apps guide.

Can you make money with Bitcoin Code?

Yes, you can make money with Bitcoin Code. However, it may not be as high as their 99.4% claims. Ultimately, your chances depend on the bot’s accuracy and your trading strategy.

I don't have any crypto trading experience. Can I use Bitcoin Code?

The whole objective of Steve McKay with Bitcoin Code is to help those individuals to potentially earn passive income who don't have any crypto trading experience. You can use the automated trading platform mode so the software works on your behalf.

Does Bitcoin Code have a Demo account available?

Yes, it does. The demo account lets you practice for free and enable you to develop efficient trading strategies.

Disclaimer: All testimonial photos are stock imagery and do not represent the people behind the feedback.