Is Bitcoin Code scamming customers or is it a good way to easily make money?
In this review, I’ll explain how you can earn using Bitcoin in a serious way without risking to lose your money because of methods that promise miracles that turn out to be nothing more but lies.
If you want to invest in Bitcoins, I strongly recommend you to use a reliable Bitcoin investment platform where you can trade legally and is subject to the strictest security controls by regulatory bodies.
I strongly recommend that you go down this path rather than entrusting your money blindly just because you have been promised to get a lot of money without actually doing anything.
The Bitcoin project is a serious undertaking born to give anyone the opportunity to have a currency that does not depend on the government of the country where you live and is simply dictated by the market.
In this way, those who own bitcoins can count on their true value even if they live in disadvantaged countries (e.g. African countries).
What is Bitcoin Code?
Bitcoin Code is a software born in 2018 that, according to its official website, says that it allows you to start “error-free” investing.
If you are almost there, you can’t say that they haven’t warned you. Anyway, it’s not up to us to say whether Bitcoin Code is a scam or not but certainly it was all dependent on its exhilarating preface, which at that moment, clashes with the reviews made on the web.
In this article, we will find out what the feedback is about with regard to Bitcoin Code along with a summary of the most consistent reviews in order to give an overall opinion about it.
In summary, however, we can immediately say that we cannot recommend that you use it because we prefer to stay in safer, regulated environments.
If you are interested in trading with bitcoin in a secure manner, a regularly authorized platform such as 24option is preferable.
Bitcoin Code is more than just some type of software. It’s a method of finding customers to buy a product that doesn’t guarantee results.
Its success is due to the fact that everyone would like to earn mountains of money (as they promised) without doing anything and spending all the time on the beach eating shrimp cocktails and that there are many who believe in it anyway.
Bitcoin Code has been successful precisely because many people really believed that there was this infallible way to get money.
The truth is that infallible methods that earn money do not exist. In fact, serious investment sites do not make promises but simply offer the tools where one can trade in complete freedom.
Let’s explain ourselves better by highlighting these differences:
- Bitcoin Code: tells you that after your deposit, you can start earning without doing anything
- 24option: provides you with the tools that you can use to invest without managing your money and by offering a free demo. You can also withdraw your money at any time.
Did you see the difference? Which one convinces you the most? If you can see the difference between these two, you can immediately see the difference between all ambiguous sites and those that are trustworthy.
Why does Bitcoin Code convince so many people?
Bitcoin Code is like a ship with a big fishing net. It’s so big and thick. It tries to capture its customers regardless of their interest in trading and financial markets simply because it promises to make money easily.
To do this, it uses promotional videos and advertisements where it shows people who say something like this:
<<With the system developed by Steve, I earned 784,832 euros and 77 cents in just over two months! To do all this, I just needed to invest 250 euros.>>
If you will notice, the fact that by using such a precise figure is a classic way of making ake you believe that it is true. One account is saying “I’ve earned a million” while another is specifying sums so precise that it even counts cents.
Other factors that you should note in the video of this guy (an improvised actor with scarce means):
- You can easily see that he is reading a script
- He appears to be a simple person who is recording a video inside a teenager’s room
- He’s certainly not using all this money to live in a hotel.
- He’s wasting time by making videos even though he’s about to become a millionaire.
It’s important to point out that the guy in the video as well as in all (or almost?) videos of this kind are modest people who do this to get some money.
They are certainly not responsible for Bitcoin Code, which probably we will not know and you will never know. Bitcoin Code doesn’t have an address and a headquarters so it’s not made of real people but rather a bank account where your money goes and where you don’t have any sort of guarantee.
Who is Steve McKay? Does he actually exist?
Steve McKay doesn’t exist. It’s a fictitious name that the minds of Bitcoin Code have used to present their product.
In some videos, for example, there are several “new rich people thanks to Bitcoin Code” (like the one in the previous video) who thank Steve for helping them become millionaires. All this, starting from 250 euro. Periodically, new names are called who try to be as generic as possible.
McKay is not a common name, so it may seem true. But Paolo McKay has never been seen, although with his method he should be able to obtain a Nobel prize. But that is if it had been true, of course.
At the Nobel Prize for Mathematics, however, he was never heard of.
All our solidarity goes to the actors used for the creation of these videos because they put their faces on something they probably didn’t realize and today they could pay the price.
It’s one thing to teach them how to trade or explain how to use trading platforms (to trade independently and with regulated brokers). Another is to propose methods of investment by leveraging their great potential for profit (euphemism, considering the 700 thousand euros in two months).
Bitcoin Code advertising: the perfect method
One good thing that goes to Bitcoin Code is actually related to marketing.
Although, however, it is not an ethical one. While they have managed to build a war machine (from a marketing point of view), they have certainly not operated correctly.
Playing with people’s hopes, in fact, is not what can be defined as a correct or ethical type of selling.
Using actors who claim to have earned money in a short time is not something that one should do. Unless, of course, you care about the final result by just wanting to get the 250 euros and then what happens next is fate.
Might as well say so, though. Trading is risky and everyone knows it as we always say it. But from here to make it a magical source of income, there it passes. There are myriads of nuances smack right in the middle.
Bitcoin Code reaches customers through many means:
- Advertising that looks like articles
- Facebook (pages)
Do you know those lists of related articles that appear at the end of an article?
Generally, you can also find ones that are really relevant to the topic but they often appear like those that have titles such as “With this system, this person earned 300 thousand euros in a week”.
They look like articles because they often appear in authoritative sites but upon clicking them, you go to sites like Bitcoin Code or those that belong to the same network.
Yes, because it is not said that the minds behind Bitcoin Code are not the same as those who manage other projects, such as Bitcoin Profit, Bitcoin Revolution etc.. There are several and we talked about them in their own respective articles.
Spam email is a classic since the Internet explosion. Sending emails is very easy and email addresses are obtained in increasingly simple ways.
When you install a free app, you can give your email address, for example, or when you subscribe “for free” to anything. These email addresses can be sold and could also be purchased from sites like Bitcoin Code.
In this regard, it should be noted that generally, when your email is provided to third parties, which is mentioned in the “terms and conditions” of the service you subscribe to, or in the app you install.
Forums also fall into the categories of sites where Bitcoin Code can be advertised.
In fact, there may be a comment, written by such a person, that describes his/her positive experience with Bitcoin Code. You don’t even have to insert the access link because it’s so easy to find it.
Generally, comments with links are moderated strongly. Sometimes, however, you may also find links. As you know, the forums can be accessed by anyone so it’s no wonder that among the comments there may also be those related to Bitcoin Code.
Apparently, Facebook is also used by Bitcoin Code for its advertising through advertisement. You’ll wonder how it’s possible considering that there’s a dedicated staff that checks all the ads before inserting them.
Well, with a system called “cloaking”, you can show to those who come from a certain country a very different page from the one that is shown to others (for example, a page where you sell a simple e-book).
The advertisement is approved and the other users will see instead what is really proposed in the advertisement.
However, no matter how these people operate and no matter how many times their ads get blocked, their emails, links, and related articles will always find a way to reappear on other sites, forums, and email addresses.
The important thing to do is to keep your eyes open and not believe in easy ways to earn. They just don’t exist.
Bitcoin Code’s Videos
In light of what we have said so far, watching a video of Bitcoin Code would certainly have another effect.
We can assure you, however, that without these arguments you might have had some doubt regarding its effectivity. Bitcoin Code videos are, in fact, artfully edited to leverage some weaknesses.
For example, a weakness may be the desire to get money as soon as possible. Now, if you think of serious situations, say that with 250 euros, one can solve all of one’s economic problems. You understand well that it is not that you’re doing a good job. In fact, the exact opposite.
The fact that Bitcoin Code’s videos, aside from leveraging from the fact that you can get a lot of money in a short time, is both a gamble and something not really serious.
We have already said that the proposed “actors” in the videos (but they don’t really act so they are totally doing improvisation and are paid ad hoc) who tell the world that they got a lot of money (hundreds of thousands of euros) in a few months or even weeks.
The choice of the type of actor is not accidental: the young man just over twenty is just one of many and represents precisely the type of target that they want to reach.
Each actor is used to capture the interest of the category that he/she represents.
Among Bitcoin Code’s videos, however, it is still noteworthy to point out that some of these actors live in disordered, modest rooms with IKEA furniture while saying that they became rich thanks to this system.
Registration and Deposit in Bitcoin Code
The only thing certain is that after you sign up for Bitcoin Code (thus releasing your data – we’ll come back to this later), you will be required a minimum deposit of 250 euros.
This money must be deposited in the account of one of the proposed brokers and all of them obviously unregulated and therefore illegal in Italy.
Your data are taken from the same people who put you on this system.
This means that they will probably sell this to third parties to make a further profit or to send you material of various kinds by email and perhaps even by phone.
The fact that you have to deposit 250 euros to try this miracle method speaks for itself.
We don’t even mention brokers as we prefer to mention only regulated, authorized and therefore safe and legal brokers for our users.
Whether you like it or not, certain rules must be followed in the trading sector and those who do not follow them cannot be put on equal footing with professionals in the sector.
In order to run its business, a European brokerage firm must be subject to a myriad of rules that are becoming more and more stringent every year.
We too, on our site, are obliged (rightly!) to provide our readers with all the information on the risks arising from trading, even if we simply offer platforms and guides and certainly not advice or brokerage services.
Well, sites like Bitcoin Code do not offer any kind of information about their “company” nor any regulatory bodies to which they are subject.
A broker or a site that offers financial services and wants to operate in Europe or Italy must provide a lot of legal information, which the user has the right to consult and monitor.
Also, how can you afford an advertisement like the one we saw? No level-headed regulator would allow it. If a regulated broker did so, it would be closed down immediately.
Feedback on Bitcoin Code
On its website, they talk about an algorithm and its “almost perfect” way of trading even to those who have no experience.
Now, if the fact that Bitcoin Code is accused of fraud from half of the web were not enough, especially “to those who have no experience”, we are sorry to disturb your peace but the thing of having “no experience needed” when we talk about the possibility of earning a lot, cannot be perpetuated because the whole industry is affected.
With platforms like 24option, this problem is not there because they are regulated by the CySEC at the European level, which authorized to operate in Italy and is therefore safe and legal.
Online trading allows one to produce positive economic results but requires to be educated on how to use it in order to obtain constant results. It’s like when you go to school and you do quizzes.
This goes well sometimes whenever you answer randomly or if you rely on your more intelligent classmates. But the next time, this can happen and you can lose everything.
More than Bitcoin Code, what it takes to know how to use Bitcoin
Here are the three points to keep in mind if you wish to earn with bitcoins:
- Training (you need to learn the basics and understand how to upgrade)
- Reliable broker (such as 24option, for example, official partner of Juventus F.C.)
- Method (its own strategy, based as much as possible on fundamental and technical analysis)
Do you want to use your knowledge to make a profit by trading bitcoins? Then read on, because we will explain these three points better below.
Bitcoin Code’s Robot
You don’t need a robot to trade. You need a brain. We could summarize it like this to make a joke out of it but we prefer to argue anyway.
What does a robot do, no matter how well it works? Through algorithms, it sifts through prices, graphs, and then through technical analysis (designed by those who are hardly ever given to know) produces outputs such as “trade now”, “trade at this time”, “buy now”, “sell now”. Or, it can just do it automatically.
If you like the idea of entrusting your money to such a mechanism, you are probably underestimating your own analytic skills. And your own skills in learning to analyze.
To learn how to trade, as well as in all other industries, it takes training.
In this regard, we recommend a general overview of our free online trading course available on our website. You can also start with our online trading information page.
Let’s move on to CFDs. CFDs allow you to trade on the value of the bitcoin whether it’s upwards or downwards. That’s right. In addition to taking advantage of the rise of the bitcoin, you could also get results from its fall.
Want to know more? Read our updated CFD guide or read the article “What are CFDs“.
For trading platforms, i.e. virtual environments where you can trade bitcoins online, take a look at our trading platform page.
A very popular trading platform is the one discussed in section 2 below.
Bitcoin Code Reviews: Is it better than a reliable broker?
We have already mentioned it and we repeat it. 24option is a well-known bitcoin trading broker. It used to be the number one binary options broker, but today its services has already changed because it now offers CFDs.
24option is a widely used solution for online bitcoin trading. It is regulated, secure and legal. Try it now
For this very reason, it allows you to negotiate upwards and downwards on BTCs and obtain results based on increases and decreases in the price of the bitcoin.
Relying on a well known, regulated, legal and all-day support broker is much better than relying on sites that offer a product with very little information about warranties and supplier data. Definitely a different world than the unknown Bitcoin Code, which is not even well understood what it is.
24option is regulated by CySEC at the European level and the company that manages it, Rodeler Ltd, is also registered in the Consob (National Commission of Companies and the Stock Exchange). So it is a serious company: the necessary basis from which you can start.
Want to find out more? Read our guide to 24option.
Analysis: the more you analyze, the more you understand
Bitcoin is a nasty beast. Cryptocurrencies, in general, are very volatile, but all of them follow the trend of the bitcoin that makes the good and the bad trading climate. This is because bitcoin has become the synonym for cryptocurrency and when we talk about new regulations, we talk about bitcoin.
In this regard, perhaps you are interested in reading our page dedicated to bitcoins.
With regard to bitcoins, in fact, it should be noted that making a technical analysis is very difficult, if not impossible because the elements outside the normal market dynamics that affect its price are numerous and very powerful.
For example, it’s enough to remember that the only statements made by some Minister of Economy who speaks to some microphone of “bitcoin ban” were enough to make it lose a few thousand euros in value. Not to mention, however, those times when it was really banned from some countries or strongly regulated.
Over time, the bitcoin has lost the boost that led it to exceed 20 thousand dollars. This quota has been exceeded also because of those who have invested in bitcoins “without knowing anything”. And what happened to them?
This shows that instead of learning to negotiate, learning to trade (up and down) is essential.
As far as bitcoins are concerned, in contrast to what Bitcoin Code and its peers propose, we suggest instead to pay more attention to the fundamental analysis on bitcoins. It includes updates on:
- Regulations in various countries
- News within the bitcoin community
- Possible forks that can move the market
- News that may affect the market
All these innovations have much more weight than technical analysis even in the short term. Of course, you could take advantage of the strong upward or downward trend but for this, you do not need robots because you just need to set up the pre-order tool well.
With the pre-order, in fact, you can ask the platform to open a position only when the price reaches a certain level. In this way, you can take advantage of upward or downward trends.
However, you can see an example with 24option.
We’re not really interested in sinking our fingers in this topic so we won’t say anything anymore about Bitcoin Code.
Considering what has been said so far in this article, you have the opportunity to make an opinion and decide for yourself whether to focus on yourself or on those who firmly want to sell you a product asking for total confidence in its operation, which for what concerns bitcoin really has a life that is not easy, no matter how “almost perfect” it may be.
At that point, you might “almost think” of “almost keeping your money close”.