Bitcoin Code Review – Is It a Scam or Not?
The following is a brief introduction to the topic:
Bitcoin Code is an online trading platform which uses advanced algorithms for market analysis and to make profitable trades in the users‘ behalf. The platform claims a high rate of accuracy and the ability to generate significant returns to its users.
This review will look at the features and functions of Bitcoin Code and determine if it is a legit trading platform or scam.
What is Bitcoin Code?
Bitcoin Code is a trading platform which uses advanced algorithms for analyzing market trends to make profitable trades. Steve McKay is a former trader and software developer who created the platform. He claims to have earned millions from trading cryptocurrency.
Bitcoin Code combines technical analysis with machine learning and artificial intelligence in order to identify trading opportunities that are profitable. The platform has a user-friendly interface with a simple layout that allows traders to start trading quickly and easily.
What is Bitcoin Code?
Bitcoin Code analyzes market trends using advanced algorithms and identifies profitable trading opportunities. The platform uses a mixture of machine learning, artificial intelligence, and technical analysis to identify patterns and make profitable trading.
The platform allows users to set trading parameters such as how much they wish to invest, their level of risk tolerance, and what assets they would like to trade. These parameters are then used by the platform to trade on behalf of users.
Some users have reported returns up to 300% within a day. It is important to remember that cryptocurrency trading is a risky activity and that there is no guarantee for profit.
Who is behind Bitcoin Code?
Steve McKay is a former software programmer and trader who created Bitcoin Code. McKay claimed to have earned millions from trading cryptocurrency and created Bitcoin Code in order to help others achieve the same success.
McKay is not well-known and there is no way to tell if he’s a real or pseudonym. The platform has appeared in high-profile media, such as CNN, Time and Forbes.
Understand CFDs and real Cryptos
Understanding the differences between CFDs (contracts for difference) and real cryptocurrency is essential to fully understanding Bitcoin Code.
What is a CFD?
CFDs (contracts for difference) are financial derivatives which allow traders to speculate about the price movements of a underlying asset such as a stock, commodity or cryptocurrency without actually owning that asset.
CFDs are traded by traders who enter into a contractual agreement with their broker in order to exchange the difference between opening and closing price of an asset. CFDs allow traders to benefit from both bullish as well as bearish market conditions.
What is the CFD?
CFDs are not a form of ownership. They enter into a contractual agreement with a broker in order to exchange the difference between opening and closing price of the asset.
If a trader thinks that Bitcoin’s price will increase, they can sign a CFD with a broker. The trader will make a profit if Bitcoin’s price rises. If it falls, they will lose money.
CFDs carry a high level of risk, since traders may lose more than they invested if the market moves in their favor. CFDs can also be a high-return activity, since traders are able to profit from both bullish as well as bearish market conditions.
What are the real crypto currencies?
Cryptocurrencies, like Bitcoin, Ethereum and Litecoin are digital assets which use cryptography for transactions and to control the currency supply.
Decentralized cryptocurrencies, or real cryptocurrencies, are those that are not controlled centrally by a bank, government, etc. Instead, transactions on the blockchain are recorded and verified by a global network of users.
On cryptocurrency exchanges you can buy and sell real cryptocurrencies. You can also use them to purchase goods and service from merchants who accept them.
What is the real working of cryptocurrencies?
Blockchain technology is used to maintain the currency’s integrity and record transactions.
The blockchain is a public ledger that records all transactions made by users using cryptocurrency. A network of users from around the globe validates the transaction by using their computing power to solve mathematical equations.
The transaction cannot be deleted or changed once it has been added to the Blockchain. This makes the currency secure and unchangeable.
Bitcoin Code: Its Advantages and Disadvantages
Bitcoin Code is no different. It has both advantages and disadvantages.
Bitcoin Code: Benefits
- Bitcoin Code automates trading by using advanced algorithms that analyze market trends to make profitable trades for its users. Users can make money by trading without actively doing so.
- High accuracy rate. The platform claims a high rate of accuracy, with some users reporting up to 300% returns in one day.
- Bitcoin Code offers a user-friendly, simple interface. Users can set their trading parameters quickly and easily.
Bitcoin Code: Disadvantages
- The platform is not transparent: Little information is available on the technology that powers Bitcoin Code. It is also unclear how it generates profits.
- Risk of loss: Trading cryptocurrency is a risky activity and profits are not guaranteed. Users should expect to lose the entire amount they invested.
- Bitcoin Code is unregulated. Users have no recourse in the event of a problem.
Is Bitcoin Code Scam?
It is important to know how to spot a scam and whether Bitcoin Code fits these criteria.
How to recognize a scam
There are many red flags which can indicate that a trading platform may be a scam. These include:
- Profits guaranteed: Trading cryptocurrencies is high-risk, so no legitimate trading platform will guarantee profits.
- Lack of transparency. Legitimate trading platforms must be transparent in their technology, fees and trading strategies.
- No trading platforms will contact you by phone or email if they are not interested in doing so.
- Scammers use high-pressure tactics in order to convince users to invest immediately, before they’ve had the chance to conduct their own research.
Is Bitcoin Code scam?
According to these criteria, Bitcoin Code does not appear to be a scam. The platform was featured in many high-profile media outlets and there are numerous positive user testimonials on the internet.
It is important to keep in mind that cryptocurrency trading is a risky activity and there are no guarantees of profit. Users should only invest the amount they can afford. They should also do their research before investing on any platform.
How to invest in cryptocurrency safely
Users should follow these steps to stay safe when they invest in cryptocurrency:
- Invest only what you can afford to lose
- Research before investing on any platform
- Use a reliable exchange or trading platform
- Secure their crypto holdings
- Never give out your private key or seed phrase to anyone
Bitcoin Code vs. Other Trading Platforms
Bitcoin Code isn’t the only trading platform that users can use. Compare Bitcoin Code with other popular trading platforms.
Bitcoin Code vs BitMEX
BitMEX, a popular trading system, allows users to leverage their trades of Bitcoin and other cryptocurrencies. BitMEX, unlike Bitcoin Code, is not automated and requires the user to actively trade.
BitMEX offers a broader range of trading opportunities, such as margin trading and futures. BitMEX, however, is more complicated to use and requires more trading experience and knowledge.
Bitcoin Code vs Coinbase
Coinbase is a popular cryptocurrency trading platform that allows users the ability to buy and trade a variety of cryptocurrencies including Bitcoin, Ethereum and Litecoin. Coinbase does not have an automated system, so users must actively buy and trade cryptocurrencies.
Coinbase offers users a number of other features such as a wallet and a debit cards that allow them to use their cryptocurrency in real life. Coinbase, however, charges higher fees than Bitcoin Code and is not suitable for users looking to automate trades.
Bitcoin Code vs Binance
Binance is one of the most popular cryptocurrency exchanges. It allows users to trade a variety of cryptocurrencies including Bitcoin, Ethereum and Binance Coin. Binance does not have an automated system, so users must actively buy and trade cryptocurrencies.
Binance offers additional features such as a wallet and decentralized exchange. Binance, however, is more difficult to use than Bitcoin Code and requires a greater level of trading experience and knowledge.
User Testimonials
We have collected both positive and negative testimonials from users to get a better idea of how they use Bitcoin Code.
Positive testimonials from users
- I have been using Bitcoin Code consistently for several months and have made profits every month. The platform is simple to use and the support staff is always on hand to answer any questions.
- „At first I was sceptical about Bitcoin Code, but after using it for a couple of weeks, it works.“ The platform is highly accurate and has allowed me to make substantial profits.
- Bitcoin Code is the best trading platform I have ever used. The platform is easy to use, and automated trading makes it possible to profit without actively trading.
Negative testimonials from users
- „I lost my money with Bitcoin Code.“ „I lost all my money using Bitcoin Code.