Review of Bitcode Prime
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Bitcode Prime is an automated trading system that analyses crypto market data to derive and execute the most profitable trades. There is no information given on the platform’s website as to who created the software or who founded the site. Bitcode Prime’s automatic trading robot claims to pick trades with an accuracy rate of 99.4%. We looked into the service to see if this reflects reality.
This Bitcode Prime review will take you through the details of what the platform offers its users, and look at its trustworthiness as a crypto trading site.
We are aware of numerous websites which use false celebrity endorsements to send customers to unregulated brokers or call centres. Our website will only send customers to partners who have provided us with the required regulatory assurances. This is a marketing offer and our regulated partners will indicate what services they have available upon registration.
Pros & Cons
What is Bitcode Prime and what can I do with it?
Bitcode Prime is an automated trading platform that uses machine learning to scan and analyse crypto markets. It derives the best possible entry and exit points for trading cryptocurrencies like Bitcoin by deciphering historical data and market trends at a faster pace than human beings.
You can sign up and use Bitcode Prime to suggest and place trades for you. Once it has carried out the analysis, the Bitcode Prime trading platform instantly executes crypto trades for you on partnered broker platforms. The trading platform claims that it is 0.01 seconds ahead of the market due to the information it can analyse, and that it leverages this feature to make profits within the changing markets of cryptocurrency.
The platform also offers manual trading to experienced traders, allowing you to set detailed parameters on the trades you wish the robot to carry out instead of just blindly trusting the trading software with your money.
How does Bitcode Prime work?
Bitcode Prime operates by scanning the internet for information and then executing trades automatically in light of what it learns about market conditions.
The Bitcode Prime trading platform partners with regulated brokers that enable leveraged trading for bitcoin and other cryptocurrencies in order to execute these trades. It constantly monitors the market and derives an entry or exit position, and uses an API to send trading signals to the broker instantly. The broker then carries out the trade recommended by the robot.
Bitcode Prime key questions, answered!
Which brokers can I use with Bitcode Prime?
Bitcode Prime doesn’t list the brokers they’re partnered with directly but the trading platform does say that they are regulated under the EU Financial Conduct Authority (FCA). This means they are likely to include 24option, Investors, EuropeFX, and other such reputable brokers.
What cryptocurrencies are supported?
As with many automated trading platforms, there are fewer coins on offer compared to what you can find on a conventional cryptocurrency exchange. The following cryptocurrencies are supported on Bitcode Prime:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Litecoin (LTC)
In addition to this, Bitcode Prime also lets you trade Bitcoin in exchange for multiple fiat currencies, like USD, EUR, and GBP.
Can I use Bitcode Prime on mobile and desktop?
Yes. You can access Bitcode Prime any OS of desktop or mobile software. There is no Bitcode Prime app, but you can access the platform through a mobile browser. It is worth noting, however, that the Bitcode Prime software is much easier to use on a desktop.
Can I trade assets with leverage?
Yes. Bitcode Prime has partnered with brokers that allow leveraged trading in cryptocurrencies. You can trade with leverage up to 1:1000. But be careful as leveraged trading is risky and should only be used by experienced traders.
Can I open long and short positions?
Yes, you can open both long and short positions through Bitcode Prime because of the network of brokers the platform is partnered with.
In trading, taking a long position means you’re betting that the price of an asset (e.g. Bitcoin) will go up, whereas taking a short position means you make a profit if the price falls.
What are the payment methods and withdrawal/deposit limits?
The minimum deposit amount on Bitcode Prime is $250. The payment methods available are varied and include Visa, Mastercard, wire transfer, Skrill, and Neteller.
Withdrawals are done through the broker with which the robot places a trade. There are no limits on the withdrawals placed, and they will usually be processed within 12 hours depending on the broker.
Are there any costs and fees involved?
No, Bitcode Prime does not charge any fees or commission charges. The registration process is also absolutely free. However, you may be charged a fee by one of its partner brokers when you go to make a trade.
How do I withdraw my money?
The withdrawal process requires you to fill in an application, where you are asked to submit your bank details and your profits are transferred into your given account. There are no limits and you can ask to be paid on a daily basis as well if that suits you better.
Please note that while withdrawing your money, you will often be asked to provide proof of identity and address, as the broker will need these in order to comply with legislation to prevent money laundering.
What is the registration and verification process?
The registration process is fairly simple and takes a few minutes. You need to provide basic details like your name, contact number, email and set a password. You don’t need to submit any proof of identification at this point. Once all your details are submitted, your account is verified in a few minutes.
What is their customer service like?
Prior to registration, you can only contact the website through a contact form. Once you are a registered user, you can access their customer service 24/7 via email and live chat.
How does it compare against other autotraders?
Bitcode Prime fares well against other automated trading platforms; Bitcoin Revolution, Bitcoin Era, and Bitcoin Trader. While they all offer virtually the same product, its the ease of use, coins on offer, and security which set Bitcode Prime apart. We suggest taking a look at our list of the best bitcoin robots before signing up for an account.
Is Bitcode Prime legit?
Yes, Bitcode Prime is a legitimate service, but it is important to bear in mind that it is aimed at users who already have existing knowledge how cryptocurrency trading works.
On external platforms, users have claimed that the robot has helped them in verifying their trading signals. These reviews seem more credible than the testimonials on the Bitcode Prime website, where users claim to have made millions within just 61 days. This seems far too good to be true and should be treated with high level of scepticism.
Before investing in cryptocurrencies, bear in mind that it is a risky venture. This is especially true if you use leveraged trading, which can generate higher profits but can result in much higher losses in a short period of time.
Has Bitcode Prime been recommended by celebrities or appeared on TV?
Invezz can find no evidence of any famous celebrity or television show promoting the services offered by the Bitcode Prime trading software. Many different stories have appeared online linking the platform to a host of well-known celebs and wealthy investors, but our research could not find any proof that these claims are true.
We have included three fact checks below covering the celebrities most commonly associated with Bitcode Prime.
Is it true that Nicole Kidman endorsed Bitcode Prime?
No, Nicole Kidman has not spoken favourably about Bitcode Prime. Nicole Kidman began her career as a film star, achieving global success in the mid-1990s in films such as Batman Forever and To Die For. She has been one of the most famous actresses in the world ever since.
Fact check: False. Nicole Kidman has never recommended Bitcode Prime.
Does Olav Thon use the Bitcode Prime website?
Any claims that Olav Thon uses the Bitcode Prime website are false. Olav Thon is one of Norway’s richest men, having amassed a fortune of over $5 billion through his real estate empire. He has set up a charitable foundation specialising in medical research, to which he intends to leave all his money.
Fact check: False. Reports that Olav Thon uses this crypto website are incorrect.
Has Patrice Motsepe publicly recommended the platform?
There are a few online reports that Patrice Motsepe is involved with Bitcode Prime, but none of these are true. Patrice Motsepe made his fortune by founding mining company African Rainbow Minerals.
Fact check: False. We found no evidence that Patrice Motsepe has ever publicly endorsed this platform.
How to trade with Bitcode Prime
Bitcode Prime offers an interface which is user-friendly to navigate and is operated by a simple dashboard. You can access your trading history as well as your open orders from the control panels clearly displayed on the platform. You can also track your profits and losses from the trading dashboard itself.
Additionally, you can opt for manual trading, which allows you to set your trading parameters before you automate the function of auto trading. This means you can programme the trading software to trade according to rules you set yourself, and use it to supplement an existing trading strategy.
How to open an account with Bitcode Prime
- Step 1: Registration – To access Bitcode Prime’s automated trading software, you first need to register on its platform. At this point, you will also be asked for details such as your name, email address, and phone number, and be required to set a password. Once you have verified your account by clicking the email link that will be sent automatically, you can instantly access the trading software.
- Step 2: Funding your account – You have to fund your account with at least $250 in order to start auto trading. While Bitcode Prime has no demo account, there is a walkthrough demo of their trading dashboard.
- Step 3: Trade – After making the minimum funding deposit, you can start auto trading with your Bitcode Prime account. For this, you need to set trading parameters including stop-loss orders, daily take profit, daily risks, etc. A manual trader can further set parameters to open and close trades according to their personal strategy.
Our top robot trading tips for beginners
It’s important to do some research before trading the crypto market. Crypto is a complicated and sometimes volatile market, and even experienced traders should proceed with caution before trusting their funds to a platform based on automated trading software. Here’s the advice from our team of experts for anyone getting into automated trading:
- Learn about trading before you use a robot. For people who are new to trading, it is important to learn about the details of what it involves – even if using trading software. Through this you can familiarise yourself with strategies like setting limits and stop losses to protect your funds and create a better trading strategy.
- Learn more about cryptocurrency. Crypto markets can take time to get used to and it is important to understand the basics of what you’re trading before signing up to a robot service.
- Start with a demo account. Automated trading software often allows users to start trading with a demo account, giving you the chance to familiarise yourself with the platform without putting any of your hard earned money at risk.
- Build your portfolio gradually over time. The best trading strategies are long term, based around generating continuous growth over a long period of time. Start small with your investments and don’t expose yourself to too much risk.
- Only invest what you can afford to lose. The most important rule when it comes to trading assets of any sort is only to invest what you can afford to lose. There’s no guaranteed trading strategy and there will always be some risk to individual traders, so don’t invest all your money into any platform.
Bitcode Prime offers automated trading software that can scan the internet and suggest the best crypto trades. However, claims made by the website that inexperienced traders have made huge profits in no time at all seem very hard to believe and shouldn’t be taken at face value.
It’s also notable that Bitcode Prime only offers the ability to trade four cryptocurrencies, and that it lacks a demo account which users can use to familiarise themselves with the platform without risking their funds. Other similar services often offer more cryptos and demo accounts that act like their real software.
Reviews suggest that some traders have used Bitcode Prime to automate trades based on their own trading strategy. This seems to be the best way to approach Bitcode Prime; as a tool to help you trade, rather than a service you simply entrust your funds to.
Any beginner should not enter the crypto market as someone completely dependent on the robot. Crypto markets are highly volatile and you can lose money very quickly if you don’t understand how it works.
Bitcode Prime does offer automated trading services as described, but some of its statements of users generating million dollars in 61 days are highly suspicious and unlikely to be true. Bitcode Prime’s robot uses advanced technological solutions to decipher the best possible entry and exit points in cryptocurrency trades. It then places automatic trades on behalf of a user, as well as offering you the ability to set parameters manually which it will follow when trading. But please note that the claims of Bitcode Prime users generating huge profits are unverifiable.
Yes, opening and verifying an account on Bitcode Prime is easy and can be done within minutes. For registration, a user needs to provide their basic information, including their name, email, and contact number. After which, the process of verification of your account usually takes up to 30 minutes (they send you an email and you need to verify your address by following the link). A user does not need to provide any identification documents in order to open an account on Bitcode Prime. However, the robot’s services are not supported in all the countries and there is no Bitcode Prime app, so it’s harder to sign up on your phone.
No, withdrawals are in fiat currency. A user can trade prominent coins including Bitcoin on the robot’s platform, but these trades are placed with a broker that trades using CFDs. Because of this, all reading is done using fiat currency and any payouts are also in this form.
Bitcode Prime is a trading platform that can be used as part of an automated trading strategy, however, its bold claims of the robot working with an accuracy rate of 99.4% is hard to believe. It has an interface that is identical to other similar robots, which causes some doubt as to its authenticity, and claims that it has been endorsed by celebrities are untrue.
In terms of enabling automatic cryptocurrency trades, yes. However, Bitcode Prime is dishonest about how effective its software is, with reports of users generating millions with no experience almost certainly untrue. The robot analyses historical data and the latest trends to derive the best possible outcomes of a trade, and it then executes trades it thinks will perform well on a partnered broker’s platform.
According to its official website, there are no fees and the user does not need to pay to use Bitcode Prime. However, the trading platform might charge fees or a specific percentage in a trade, and there will also likely be fees when withdrawing funds from the broker’s account.
You first need to withdraw your funds from the broker’s platform into your bank account. After this, you will need to contact the broker and Bitcode Prime platform in order to delete your account.
It’s unclear. External websites have given multiple different names to the founder behind this robot. However, the official Bitcode Prime website does not mention the team members behind the robot. We have also not been able to find any verification of who owns Bitcode Prime.
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >