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Bitcoin Code Test & Review - Scam or Not?

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Bitcoin Code is a trading bot. But what is that? A trading bot is an algorithm that decides when to buy or sell a chosen cryptocurrency whenever specific parameters have been met.

Why is this useful? No matter how much time you think you have to sit in front of the charts and try to beat the market, two problems always arise. You need sleep, and the crypto markets never sleep. You are human, which means you will place trades based on emotions. Investment psychology abounds with books that point out the correlation between the human condition and bad trades.

This is where bots, or algos such as Bitcoin Code, can help. Bots, almost by definition, have no feelings. They strip out all emotion and only act according to mathematical principles. Your job with a bot is to set up these principles, then walk away, come back and see if you've made a profit. If you have, the bot is good. If you haven't, it might be time to get a new bot.

This article covers the features of Bitcoin Code, its pros and cons, how it differs from other cryptocurrency trading robots, and why you might want to consider it as part of your trading strategy.

What is Bitcoin Code?

Bitcoin Code uses set mathematical parameters to analyse price data in the crypto markets. Once set up, this automated process will buy and sell according to its algorithm.

With so many cryptocurrency exchanges, around-the-clock markets, and many thousands of cryptocurrencies to choose from, in combination with other analytics tools that identify trading opportunities, bots such as Bitcoin Code can be implemented to take advantage of volatility and, if appropriate to the market conditions and set up right, deliver passive returns.

Who is Behind Bitcoin Code?

The developer purportedly behind the creation of Bitcoin Code is Steve McKay a Bitcoin trader and software engineer with more than 10 years' experience creating trading software.

Who is Behind Bitcoin Code?

How to Use Bitcoin Code

1. Open an Account

To use Bitcoin Code, you first need to register, providing your email address, contact number and full name. You will need to validate your new account by clicking the confirmation link sent to your inbox. You should expect a call from a regulated broker, who will explain how to use the bot and its interface.

2. Make a Deposit

The next step is to make a minimum deposit of $250 so that your trading account can be activated. Do note that access to the bot does not guarantee trading until your deposit is confirmed. The common deposit methods are VISA, Mastercard and bank deposits. Processing time is normally within 24 hours for transaction completion.

3. Start Trading

Before you move on to live trading, the first step necessary will be to determine your daily trading amount and your withdrawal frequency. Investors are advised to peg their stop loss at a price range you are comfortable with. This is necessary to preserve your trading capital and maximize your profits. It is wise to learn more about managing risk at this stage as Bitcoin Code only works within the parameters provided, just like every other robot.

4. Withdraw Your Profits

An important aspect of trading with Bitcoin Code is to also recognize when to take your profits. Several investment experts recommend that you should withdraw your daily profits as soon as they show up in your accounts. It is also an excellent risk management technique irrespective of how profitable your trading might be.

Key Features of Bitcoin Code

Each cryptocurrency trading robot presents a set of features that underlies their selling points. We present below the leading features of Bitcoin Code as reported by the testimonials of its users.

Payouts

Bitcoin Code enjoys a high pay-out rate according to the reports we have monitored online. With the positive testimonials on the bot homepage, the success rates look believable. Judging by the immense capacity of Bitcoin Code to analyse market data and detect opportunities to make a profit, investors could be at an advantage to make gains within split seconds of changes in the market.

The Verification Process

Bitcoin Code’s verification process can be completed within a few minutes so you can get your hands on the bot quickly. All that will be needed is a government-issued ID, such as a driver’s license or international passport. As for payment method verification, you might also be required to provide details of charges made to your bank account, credit, or debit card as proof of authorised access.

With the verification details submitted, most users can proceed within a few hours and be able to access the full functionality of their bot account. A major benefit of account verification to both the user and the broker is to protect the integrity of users and everyone on the platforms.  

The Withdrawal Process for Bitcoin Code

Bitcoin Code has an easy withdrawal process. Having set your withdrawal frequency, you should expect the funds to reflect in your chosen withdrawal method within 24 hours.

You are free to withdraw your profits daily, although some investors prefer to do so once in three days.

Costs and Fees

Making a withdrawal or deposit attracts no fees with Bitcoin Code. You can keep 100% of your trading profits and the platform is funded by fees generated from the operational trading processes.

Customer Service

Several user reviews show that Bitcoin Code works as advertised. Each new user is given a walk-through by a broker representative who will explain how the bot works and the processes involved in its operations. Most users can gain first-hand insight into Bitcoin Code at this stage.  You should expect a phone call as soon as you click on the new account confirmation link.

 When we tried out the bot, we received a phone call from an assigned representative who was able to let us know how platforms such as these work and was courteous to answer the questions we asked. Users are also able to forward their concerns or requests to customer service from the account dashboard and receive timely responses to queries.

Affiliated Brokers

Bitcoin Code is available in several countries all around the world. There are affiliated brokers for every country to provide a platform for you to access the bot. Bitcoin Code uses a customer service algorithm that matches you with a broker that is available in your location, just as you sign up for the bot. 

No matter where the new accounts are opened, the quality of service is maintained on the network of affiliated brokers. You should always check to make sure that the broker to whom you are referred is regulated and reputable. 

Is Bitcoin Code a Scam?

The challenge that some investors have is that several crypto trading bots designed to be scams are easy to come across. These scams have the appearance of regulated bots like Bitcoin Code but are unregulated and lack credibility.

We subjected Bitcoin Code to tests for its use and outcomes of registration to deposits and withdrawal processes. We have surmised that the bot is likely to be genuine based on positive online reviews and as described in user success stories posted online.

From its much-regarded success rate to the application of cryptography to safeguard the data of its users, the bot appears to have shown its credibility and rather outstanding user experience. In light of overwhelming positive evidence and reviews from many users in different parts of the world, we feel encouraged about this platform. It is advisable, however, to check out the platform yourself, and not to place complete trust in the testimonials of previous users.

Trading always carries risks due to market conditions, so there is no guarantee that every trader using Bitcoin Code will be profitable.

5 Reasons to Use Bitcoin Code for Trading

Many people wonder how and why it would be advantageous to use automated trading systems, below we cover 5 reasons.

1. Intuitive User Interface

The account dashboard is user-friendly and well laid-out on the trading platform. The design of the user dashboard makes it possible for an experienced user or a newcomer to navigate the bot and be at ease. 

While some investment platforms are not user-friendly and can turn customers away with a non-technical background, Bitcoin Code excels in this area. With an excellent user experience on offer, many investors have claimed to be at ease here.

2. Boasts Market-Leading Win-Rate

Many new investors want to know about the win-rate of bots before they commit their funds. Users claim online that Bitcoin Code has an amazing success rate that trumps most of its competitors.            

3. Faster than Manual Trading

To trade cryptocurrency is not as simple as playing the lottery or betting on horse races. Even when trading Bitcoin, there could be up to 2,000 changes in price before a trading day comes to an end. There are over 5,000 tradable digital tokens and more than 1,000 marketplaces offering a chance for arbitrage earnings, quick sales and day trading for low hanging fruits.

However, it’s impossible to trade optimally when market data changes by the second and never closes. Unlike traditional stock exchanges, crypto markets are open every day, all-year-round. Therefore, automated trading software is a preferred option, as it can trade when you sleep.

4. Smart Analytics

To-the-minute changes in market data requires a smart analytics functionality for an investor to have optimal returns. Using a well-developed algorithm, access to market data to the split-second is ensured, allowing the software to access and interpret the data for the best profitable decisions. So, while an individual will find it difficult to wade through 1,000 pages in several hours, a bot can do so within a few seconds accurately.

5. Remove Human Error

Human error is an ever-present danger that many people cannot avoid when faced with investment decisions in volatile markets. However, when faced with figures, computations and the line of best fit, human error takes on a greater reality. With software, not only is fast computation usually assured, decisions to be taken can be expected with a greater degree of accuracy than a human can achieve.

Trading software is often configured to automate trading 24/7, which means that while you are tired and sleeping, it keeps working.

Advantages and Disadvantages of Bitcoin Code

Pros

Users attest to earning good profits
Reportedly possesses fast computations and decision making
Auto trading functionality
Claims to incorporate machine learning and artificial intelligence

Cons

Users cannot choose their broker
Not available in some locations

Bitcoin Code: What Sets it Apart from Competitors?

When comparing Bitcoin Code to many other trading bots, such as Bitcoin Era or Bitcoin Trader, Bitcoin Code has a decent pedigree with a solid tech developer behind it. As such, it stands up to battle testing, with some traders reporting a 90 percent success rate, according to the website. 

Capable of making a high number of trades each minute, based on underlying price movement, Bitcoin Code takes the guesswork out of trading. When set up correctly, the algorithm can be left to do what it does best, generate profits by taking small bites out of fast-moving markets. Making decisions without human intervention means that any profits crystallised are a direct result of the solidity of the algorithm. 

The caveat to this, of course, is that market conditions can change, and when they do the crypto bot might not perform as well as expected. When tides turn, it's probably worth assessing whether to look at a different bot more suited to new market conditions or tweaking the parameters of Bitcoin Code and seeing what happens. When tested in strong bull or bear markets, some bots tend to perform better than in ranging markets. Bitcoin Code performs best when there is a strong trend in play.

Bitcoin Code: Our Conclusion

Bitcoin Code appears to be a good trading software and is a strong contender in the Robot trading space. Our experience of using this bot is that it performs well when tested side by side against other trading bots. 

Steve McKay's guiding hand behind the scenes and focus on developing an algorithm that can withstand the volatility of markets is one of its most significant plus points. 

Many bots are poorly made then marketed hard. These gain traction but often deliver disappointment. An algorithm is only as good as the development team, and its dedication to ensuring their algorithm is well-tested and delivers profitable results. From this perspective, Bitcoin Code is one of the best trading robots around today.

In addition, Bitcoin Code delivers a better user experience than many other trading bots, with ease of navigation and reported reliability, some of its main plus points. However, as with any trading bot, it's essential to understand its limitations. 

No bot is a licence to print money, and changing any of the algorithm's parameters will either improve or diminish results. The best way to think of Bitcoin Code is as an aid and addition to your existing trading strategy. 

Methodology - How do we Review Autotrading Tools?

Testing each trading bot to verify its ability to withstand the movements of the markets is central to our methodology. Bitcoin Code was tested against several other crypto trading bots, including Bitcoin Up, Immediate Edge, Bitcoin Era and Bitcoin Trader.

By collecting data from all of the bots tested and aggregating the information, we get an overall impression of how bots perform in general. Then, by digging down into the performance of individual bots over one month, a clearer view of how individual bots perform against the aggregate is generated. This provides a clear reference point as to how well a crypto trading bot will perform in a given market.

Full disclosure, not every bot has been tested in every type of market. Due to the nature of cycles, some are tested in trending markets and others in ranging markets. So it's impossible to say if Bitcoin Code, which was tested in a bull market, would yield the same results if it was tested in a generally flat market. For more information on our processes read our page on how we test and our editorial policy.

Frequently Asked Questions

  1. Several user testimonials, online reviews, and information on the website claim Bitcoin Code to be an authentic trading robot.
  2. Bitcoin Code automates most of the activities that you would otherwise have to spend the whole day doing. On this basis, the official Bitcoin Code website asserts that users only need to spend two hours each day on Bitcoin Code.
  3. The ability of Bitcoin Code to earn you income is contingent on several factors including the volatility in the market, your Bitcoin Code skill level, the amount of trading capital, and your aggressiveness. Nevertheless, crypto-investing is highly risky and there is no promise of earning money.
  4. You have to start from a point of knowledge; knowledge of the trading robot and that of the cryptocurrency market. You also have to stay clear of irrational decisions, meaning all your decisions must come from market research.
  5. Bitcoin Code works in concert with brokers across the world to facilitate traders’ market access. That is why you will be directed to a broker, often based on location, after signing up. However, our research noted that Bitcoin Code offers no guarantees regarding the regulatory status of the affiliated brokers.
  6. No. Inconsistencies in price movements in the crypto market make it impossible for any piece of software, no matter how well designed, to predict the market.
  7. Yes. Various online platforms maintain a catalogue of trading robots for your perusal.
  8. No. There are claims to this effect but our internet searches did not yield corroborating information.
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