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.
Is Bitcoin Code legit?
Yes Bitcoin Code is 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.
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 24option 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 $15000 (£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 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.
- 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.