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Review of Bitcoin Code
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Bitcoin Code is a trading robot that aims to facilitate automated trading in cryptocurrencies. According to its website, Bitcoin Code was developed by Steve Mckay, a trader that previously worked in Wall Street, although substantial information about Mr Mckay is hard to find.
The platform’s trading robot claims to work 0.01 seconds ahead of the market with an accuracy rate of nearly 99%, helping users maximise their cryptocurrency profits. This review will take you through everything you need to know about Bitcoin Code, including whether the platform can be trusted about these lofty claims.
Pros & Cons
What is Bitcoin Code and what can I do with it?
Bitcoin Code is a cryptocurrency trading robot that uses technological solutions to place trades on bitcoin and other cryptocurrencies. Additionally, it uses mathematical algorithms to derive the optimum points for opening or closing a trade. Bitcoin Code claims that its proprietary algorithm is devised such that it works 0.01 seconds ahead of the market, and that the platform leverages this in order to place trades within seconds that generate profits for its users.
In addition to auto trades, it also caters for experienced traders by giving users the option of manually placing cryptocurrency trades. An user can manually input the criteria at which they want to open or close any trade, and the platform will automatically place a trade when conditions meet the criteria. You can use the robot as part of your trading strategy, place trades by defining parameters, or simply allow the robot to make trades for you.
How does Bitcoin Code work?
It works by integrating with a network of cryptocurrency brokers. It connects its algorithm to a broker’s account through an API. Through this API, it sends information back and forth to the broker.
For instance, supposing the robot sends an order to open a trade when the BTC price hits $8000. This order would immediately be executed upon reaching the broker. A trader does not have to monitor any of it.
Bitcoin Code key questions, answered!
Which brokers can I use with Bitcoin Code?
Once you have registered and logged in the software, you will be assigned an associated broker with Bitcoin Code. This includes well-known names such as ForexTB and EuropeFX.
What cryptocurrencies are supported?
The range of cryptocurrencies available for trading are quite limited compared to some other trading platforms. The following cryptocurrencies are currently supported with Bitcoin Code:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Ripple (XRP)
- Bitcoin Cash (BCH)
- Bitcoin SV (BSV)
- Tether (USDT)
- EOS (EOS)
- Binance Coin (BNB)
- Tezos (XTZ)
Can I use Bitcoin Code on mobile and desktop?
Yes. It is an online application that does not need any download. You can directly open it on any OS with a browser and internet connection.
Can I trade assets with leverage?
Yes. Bitcoin Code supports brokers who offer leverage trading in cryptocurrencies. However, there are no details mentioned on their website on the criteria of the leverage. It is advisable that you should not trade with high leverage as crypto markets are highly volatile.
Can I open long and short positions?
Yes, it facilitates manual trading options wherein the trader can place long or short position trades by manually specifying the criteria and parameters.
A trader takes a ‘long’ position when he expects that a particular cryptocurrency price will move up. A short position is when the trader bets that the price of the cryptocurrency will move down.
What are the payment methods and withdrawal/deposit limits?
The minimum deposit to fund your account is $250 (about £205) and the maximum deposit is $1500 (£1250). The available payment methods for funding your account include credit card, debit card, and bank wire transfers.
The withdrawal process needs to be processed from the broker’s account. Bitcoin Code does not have any restrictions over the limits of withdrawals or time.
Are there any costs and fees involved?
There are no hidden charges or costs involved with Bitcoin Code.
How do I get paid? What about payouts?
Withdrawals occur through a broker’s account. First, you need to fill a withdrawal form to begin the process. There are no limits placed and payouts can be made daily as well. At the time of making a withdrawal, you might need to provide your identification and proof of residence details.
What is the registration and verification process?
Registration requires you to sign up with your name, email address, and contact number. You will receive a link to verification on the provided email address. This process of verification usually takes up to 30 minutes.
What is their customer service like?
Bitcoin Code offers customer service 24/7, with a live chat service in addition to phone and email support.
How does it compare against other autotraders?
Bitcoin Code’s software fairs well against its top competitors; Bitcoin Era, Bitcoin Trader and Bitcoin Revolution. Offering virtually the same service makes it hard to stand apart, however its usability, safety features, and customisation make it unique. We suggest taking a look at our list of the best bitcoin robots before signing up for an account.
Is Bitcoin Code legit?
Bitcoin Code seems to be legit, and external resources seem to indicate that traders using it seem to have benefitted from the platform’s services.
However, their website seems to present misleading information about the profits users can expect. One of their testimonials purports to be from a user who makes $13,000 (about £10,900) every single day, which does sound too good to be true. Furthermore, the website also claims to have won a US Trading Association Award, but Invezz could not find any proof to attest this statement.
A user should never be completely dependent on the robot for trading, especially in the cryptocurrency market. Do your own research on fundamental and technical analysis of different cryptos before choosing to invest or trade.
Has Bitcoin Code been recommended by celebrities or appeared on TV?
In recent years there have been many stories published online claiming that Bitcoin Code has been associated with prominent celebrities and television shows. These stories all appear to be incorrect, however, as Invezz cannot find any proof to back up any of these assertions about the platform that have been made online.
To summarise a few of the most commonly found stories, below are three fact checks to help you find out which information is true and which isn’t.
Is it true that Daniel Craig endorsed Bitcoin Code?
There are a number of platforms that have claimed that Daniel Craig is in some way linked to Bitcoin Code. There is no truth to these stories, however, and Daniel Craig has never spoken about this website. Craig is a famous British actor who is most well known for portraying super spy James Bond in the most recent installments of the franchise.
Fact check: False. Daniel Craig has never endorsed this crypto trading platform.
Does Filip Hammar use the Bitcoin Code website?
Filip Hammer has never to our knowledge used the Bitcoin Code website, despite some online sources claiming this to be the case. Hammar is half of the Swedish comedy duo Filip and Fredrik, alongside his co-star Fredrik Wikingsson. Together the pair write and host a range of different comedy shows.
Fact check: False. There is no evidence that Filip Hammar uses this platform.
Has Holly Willoughby publicly recommended the platform?
No, Holly Willoughby has never publicly spoken about Bitcoin Code, and it’s unclear where rumours to the contrary first emerged. Holly Willoughby is a famous face on British television, co-hosting popular ITV breakfast show This Morning alongside Phillip Schofield.
Fact check: False. We could find no record of Holly Willoughby ever endorsing Bitcoin Code.
How to trade with Bitcoin Code
The interface of Bitcoin Code is simple and easy to use. All the navigation panels from registration to withdrawals are available on the dashboard of this robot. You can also view your trading history as well as your profits from the tab of ‘trading history’. A trader can also see their open trades from the dashboard.
In order to get access to the above, you need to set up an account on Bitcoin Code. Here are the details.
How to open an account with Bitcoin Code
- Step 1: Registration – On the home page of Bitcoin Code, you first need to sign up with your name and email address. You will be redirected to a page where you need to provide your contact number and set a password. The verification is instant and you can immediately start the trading process.
- Step 2: Deposit funds – Once you are logged into your account, you can either start demo trading to familiarise yourself with the platform. Otherwise, you can straight away start trading once you make the required initial deposit of $250. We would advise you to start small and gradually expand your strategies.
- Step 3: Start Trading – Once you have deposited funds into your account you can start trading. You’ll have the option to set parameters including stop loss, profit limits, which cryptocurrencies you want to trade, daily limits, maximum daily trades, etc. Alternatively, you can also use Bitcoin Code for manual trading instead of using the automated robot.
Our top robot trading tips for beginners
People should familiarise themselves with knowledge of both trading and cryptocurrencies before signing up for services such as Bitcoin Code. Trading cryptocurrencies is complicated, and these are the five steps our experts recommend should be followed.
- Learn about trading before you use a robot. If you are a beginner, make sure that you understand the basic schematics of cryptocurrency trading before choosing to use any robot. An expert can use this as a tool to fine-tune their trading strategy, but just because the service is automated it doesn’t mean you should use it with no knowledge.
- Learn more about cryptocurrencies. Before trading a cryptocurrency, such as Bitcoin, you should make sure you have a good knowledge of it and its value.
- Use the demo account to practice. It is advisable that whenever you sign up to a new platform you use their demo account to familiarise yourself with the services offered. This way you can set up trades and assess your trading performance before putting your hard-earned cash into the system.
- Try with small amounts and build up gradually. Always start trading in a small amount and gradually build your trading portfolio. Take out a certain percentage of profit each time so as to lower the risks. Trading success doesn’t happen overnight, and by keeping an eye on the long term you’ll have a better chance at maximising the growth of your investments.
- Only invest what you can afford to lose. The first and the last rule of trading is only invest what you can afford to lose. The market of cryptocurrency is extremely volatile and money can be made and lost quickly, so ensure you don’t take unnecessary risks.
Bitcoin Code is a well-known cryptocurrency robot that enables both automated and individual trades across a range of cryptocurrencies. The number of currencies you can trade is fairly limited, but does include the largest names in the crypto space (Bitcoin, Ethereum, Litecoin etc.).
In general it is a legitimate trading platform, but the claims it makes about the success of its trading robot should be taken with a pinch of salt – particularly with testimonials claiming to be from users making £1000s every week with no trading knowledge.
The robot should not be someone’s sole instrument to access cryptocurrency trading, but it can be used well as part of a trading strategy. A trader can use it to manually input their cryptocurrency trading specifications and then hand over control to the robot. As cryptocurrency markets work round the clock, using a robot to leverage your perfect entry or exit points enables you to secure your profits.
As when considering any cryptocurrency robot, it is important to remember that cryptocurrency is a volatile industry. It is easy to lose capital if you are trading with leverage, so ensure you are familiar with the cryptocurrency you’re trading and that you’re only investing what you can afford.
Bitcoin code’s technology does execute automatic crypto trades, but there is no evidence that it is as effective as it advertises itself to be and the website’s marketing should be regarded with scepticism. Bitcoin Code uses its proprietary algorithm to derive the outcome of a cryptocurrency trade in order to try and make profitable trades.
It does so by analysing data, prices, charts, and news trends, and accordingly places a trade instantly – aiming to be ahead of the market. However, the website advertises very bold claims from its users who have reported tens of thousands of dollars in profits each day. These stories are almost certainly inaccurate, and it is important to bear in mind that success in trading takes time and patience, so it’s important to analyse each platform accurately.
Yes. It is simple and easy to register and open an account on Bitcoin Code. On the home page a user needs to fill out the form and enter their basic details: name, email address, and phone number. The process of verification takes under half an hour. However, the robot does not provide its services to all the countries/ regions, and if your region is not supported, it may show an error message when you try and create an account.
No. While there are no restrictions on withdrawal amount, the process is not carried out from the robot’s platform and any profits are not paid out in the form of cryptocurrency. Instead, the process of withdrawals occurs from the broker’s website and payouts are paid in fiat currencies like USD, EUR, and GBP. The funds are directly withdrawn from the broker’s account to your bank account.
While the Bitcoin Code offers automated cryptocurrency trading services, the website has questionable testimonials and sensational claims of quick profits that are unlikely to be true. Moreover, it is hard to find out many details about who designed or who owns Bitcoin Code’s software, so it’s best to be careful when using the website.
The robot does offer the services of automated and manual trading in the cryptocurrency market, but at the same time it almost certainly does not deliver the kinds of profits it claims to produce in its marketing materials. Bitcoin Code does execute cryptocurrency trades by using advanced technological solutions and mathematical algorithms, but treat the claims it makes about these things with a degree of suspicion.
There are no fees or commission that is charged by Bitcoin Code to use its services. However, a user might need to pay charges to the broker platform, which is executing trades.
For deleting your Bitcoin Code account, you will have to delete your broker account as well as the robot’s account. In order to do so, you first need to withdraw your funds from the broker’s account to your bank account. After that, you can submit a request to delete your account on the broker and robot platforms.
According to the website, the robot is owned and created by Steve McKay, an ex-software developer. The owner has claimed to have generated millions in profits using the Bitcoin Code software. However, we could not find any additional information or substantial proof on the owner of this robot.
Fact-checking & references
Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.
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 >