Bitcode Method Review 2024 - Is it Legit or a Scam?

Our Investigation Result: Bitcode Method Seems Legitimate!

Having undertaken extensive research and investigations, we can assume that Bitcode Method may well be a legitimate crypto trading platform. Most claims made by the platform appear to be accurate.

If you are interested in signing up for a free account with Bitcode Method, use the link below to start, and an account manager will walk you through the process.

Bitcode Method Summary

What Is Bitcode Method and How Can I Use It?

Bitcode Method is an automated trading bot that is programmed to trade cryptocurrencies profitably by using data and insights obtained from market data. The bot is designed to do most of the heavy lifting when it comes to crypto analysis.

Retail traders who do not have much experience with financial markets can trade on the same level as experienced traders by relying on the bot. Hence, the bot serves as a trading companion that helps even the playing field for retail traders.

Who Created Bitcode Method?

The creators of Bitcode Method remain largely unknown, a trend we’ve noticed among crypto projects. However, anecdotal stories claim that they are finance professionals with industry trading experience who teamed up with software developers to build the trading bot.

Upon finding that their identities were masked, we looked to other indicators to gauge the bot’s legitimacy, which we shed more light on in a later section.

How Does Bitcode Method Work?

Bitcode Method studies live and historical price data of the cryptocurrencies it supports by running them through machine learning algorithms that map out recurring patterns between variables.

The bot also uses indicators, which are mathematical formulas that track specific aspects of price when applied to market data. For example, some indicators track how volatile price changes are, these are called volatility indicators.

Other indicators that Bitcode Method uses include volume indicators and trend indicators which track the general market trend.

By combining the results of the machine learning algorithms and the indicators, the bot can predict the trend of the market. It can spot price movements before they pick up steam and mark out profitable entries. It then sends these entries as trade signals to its users.

The bot trades cryptos using financial instruments called Contracts for Differences (CFDs) that allow it to trade crypto price movements without having to buy the underlying coins. This makes trading cheaper and allows the bot to open positions on both bullish and bearish markets.

Finally, the bot connects to a third-party broker to execute trade orders. It is these brokers that implement the trade instructions, hold users’ funds, and implement risk management. We explain in a later section why the bot doesn’t accept user funds and what risk management policies are.

Users can withdraw their funds between 24-48 hours by filling out a withdrawal form.

Pros & Cons of Bitcode Method

Key Features of Bitcode Method

High Trade Accuracy

At an 85% trade accuracy, Bitcode Method is in the top percentage of crypto trading bots. The website claims that the bot can predict profitable trades 8.5 out of 10 times. While we have not used the bot long enough to corroborate this claim, we have experienced its high effectiveness in spotting profitable opportunities.

Demo Trading

Bitcode Method offers a demo account feature that allows traders to practice with real market data in live market conditions but without real capital. New traders can learn how to set trades, create trading strategies, and manage positions, while advanced traders can create complex strategies and program the bot to carry out sophisticated functions.

Customer Service

Bitcode Method runs an amazing customer service team that is available 24/7 to attend to users’ needs and provide tech support. They are reachable via email and live chat.

Flexible Deposit Methods

Users can deposit and withdraw from Bitcode Method using popular payment methods like bank transfers, credit and debit card payments, and even electronic wallets like PayPal. Depending on your location, the platform also accepts deposits in major currencies like USD, GBP, and EUR.

Free Trading

Bitcode Method does not charge fees for trading. Traders are not required to pay fees for deposits, withdrawals, account openings, software licensing, account maintenance, or trade commissions. The bot is completely free to use, providing users with a cheap way to profit from crypto CFDs.

Affiliated Brokers

Bitcode Method associates with several reputable and regulated brokers worldwide who act as gateways to financial markets where one can trade using the software. Depending on your location, you will be linked to a broker that operates in your area and is approved by the jurisdiction’s regulators.

Verification System

Since the cryptocurrency trading robot is a money-making platform, there are several rules like AML and KYC that it needs to abide by to satisfy regulators’ demands. Therefore, the platform will ask for your real identity before you start trading and making money using the software.

The verification process on Bitcode Method is quite simple and doesn’t take long. During registration, you must use your official name since you will be required to submit an official document like an ID or passport to verify your identity.

You will also have to confirm your area of residence by submitting a document that shows your address. Once everything checks out, your account will be verified within a few hours.

Factors to Consider Before Using Bitcode Method

Before signing up for a Bitcode Method account, ensure that its policies and processes don’t hinder you in the future. We analyzed metrics that give a realistic representation of how Bitcode Method’s processes perform in action. We also assigned a score out of five for each category.

Cost and Fees: 5/5

Bitcode Method is completely free to use. The platform does not charge trading fees, withdrawal fees, deposit fees, software licensing fees, commissions, fund storage charges, and other expenses. Users can trade with the bots knowing they get to keep most of their profits.

When we used the bot, we found that it was cheap. The only extra charges are the spreads that are mostly charged by the broker, not the bot itself.

Deposit and Withdrawal Methods: 4/5

Bitcode Method supports a few popular deposit methods. Traders can fund their accounts with USD, GBP, or EUR using bank transfers, credit cards or PayPal. There are no limits on deposits, however, there is a minimum initial deposit of $250.

Withdrawals follow a similar pattern. They can be made using any of these supported deposit methods, however, traders are limited to the deposit method they used. For example, if they deposit using a bank transfer, they must withdraw using the same method.

When we used Bitcode Method, there were no limits on withdrawals and deposits, aside from the initial $250 deposit. We were also not charged any fees for funding by the bot.

User Testimonials: 4/5

We use independent third-party reviews to gauge service delivery. If other people like a service, it is usually a good sign that it works well on a day-to-day basis. Bitcode Method has hundreds of positive user testimonials across various platforms. We believe this shows that people who use the bot have found it satisfactory.

We have first-hand knowledge of using the bot, and we can corroborate the reviews online from our own experience.

Customer Service: 5/5

Customer support on Bitcode Method is available 24/7 via e-mail and live chat. Agents are ready and trained to help set up your account and fix any issues users may face. Non-account holders may not have access to the live chat service depending on their region.

When we reached out to the customer service team, we were answered promptly on the live chat although we had to wait a couple of hours when we used the e-mail channel. Hence, we advise account holders to reach out through live chat.

Verification System: 4/5

Bitcode Method requires that all new accounts be verified. To do this, you need to submit a government-issued ID and proof of address document like a utility bill. Aside from this, the platform does not require any other personal documents, which can be seen as a good sign as it helps users protect more of their privacy.

When verifying our account, we found the process quick and easy, taking no less no more than 20 minutes provided all documents are available.

Affiliated Brokers: 4/5

Bitcode Method partners with established regulated brokers with a history of good service delivery. When users register for a new account, they are provided with a list of affiliated brokers within their regions to choose from. These brokers store user funds and execute trades.

While most of the brokers are regulated by the Cyprus Securities Exchange Commission (CySEC), we advise that you do your research on each broker to ensure that their operating policy works well for you. For example, their deposit and withdrawal methods.

How Does Bitcode Method Compare to Other Automated Cryptocurrency Traders?

Bitcode Method is a cryptocurrency trading bot that shares some similarities with others on the market. However, each trader has distinct qualities, so you’ll want to research thoroughly before you choose a platform.

Here are some other crypto trading robots that you can review:

• Amazon AI Trader: This is a popular trading bot that allows you to trade the Bitcoin market.
• Immediate Peak: This robot focuses on CFDs
• Immediate Edge: A trading bot with a global reach
• Bit Index AI: An AI bot that uses machine learning to achieve highly profitable trades.
• BitIQ: A good option for beginners.

Is Bitcode Method a Legitimate Autotrader?

The best way we measure legitimacy is to gauge customer reviews and customer service.

An overwhelming number of customer reviews for Bitcode Method have been positive so far. We searched online on third-party websites, high-quality review sites, and other independent review sources, and the result has been consistent across the board. To avoid bias, we disregarded reviews on Bitcode Method’s website.

We also found the platform’s customer service should be satisfactory. While using the live chats, agents were always available to take our requests and attend to our issues immediately. We believe that this is a good indicator of legitimacy as terrible customer service is a staple of illegitimate services.

Overall, we believe that Bitcode Method is a legitimate crypto trading robot.

Is Bitcode Method Safe?

When it comes to safety, we look at two major verticals: technological safety and financial safety.

Technologically speaking, Bitcode Method is safe enough for everyday use as they employ industry-standard SSL encryption on their website. User data is stored behind strong network and platform firewalls, and the platform ensures that it does not gather more data than is absolutely needed to verify accounts.

The platform also utilizes 2-factor authentication as an added layer of safety to ensure that nefarious actors who gain access to legitimate user passwords cannot log in.

When it comes to financial safety, Bitcode Method relies on regulated third-party brokers to store user funds. Because these brokers are regulated, user funds are always stored in an environment under legal jurisdiction.

These brokers are subject to audits and must adhere to financial regulations that protect user funds. And in the event of a breach of the Bitcode Method platform, user funds remain safe as hackers do not have access to them.

We have not come across any reports of hacks or breaches to the Bitcode Method platform.

5 Reasons to Use Bitcode Method for Trading

Here are some reasons to use Bitcode Method for trading:

Trading Community

Bitcode Method is home to a community of users that can learn from and help one another. It can also serve as an alternative to customer support as the platform hosts forums where users can post their trading problems and issues and get help from other users who have faced and solved similar issues.

This way traders don’t only get a highly accurate trading bot, but also a community of people willing to help move them forward towards becoming profitable traders.

Logical Trading

Humans are emotional creatures and as such are not immune to emotional stimuli in the markets. We can also get distracted by the world around us, which could negatively influence our trading decisions.

On the other hand, a robot does not have such limitations. Bot trading is based on math, hard data, and strategy. A bot will not deviate from a set plan once it has been programmed and activated. This way, traders can become more profitable by trading logically using bots.

Low Fees

Several traditional trading platforms charge fees like commissions, deposit and withdrawal fees, and even inactivity fees. Bitcode Method, on the other hand, does not charge any of these fees.

The only fees charged are the CFD spreads which are mostly charged by the broker and not the bot itself. Users can start using the platform without financial commitments (aside from the minimum $250) and get to keep more of their profits.

Full Customization

Bitcode Method was built for beginner, intermediate, and advanced traders. The programmable software offers a variety of features and tools that can be tweaked based on traders’ skill levels. New traders can use the automated mode and its simple trading strategy to make profits.

Intermediate traders can use indicators to support their trading strategy and mark out suitable entry points, while advanced traders can even go several steps further to reprogram the bot to go beyond its auto mode capabilities to use more complex indicators and execute more sophisticated strategies.

Profitability

There is the consideration that Bitcode Method claims to be 85% profitable. This level of profitability means that newbie traders who depend on the algorithm are all but guaranteed to make a profit in the mid to long term.

If third-party reviews are to be believed, even without sophisticated strategies and indicators, the bot is still adept at spotting market movements early and finding suitable entry and exit points that also work with varying trading strategies.

Best Way to Trade with Bitcode Method

The process of using Bitcode Method in the best way possible starts with a demo account. The demo mode allows you to familiarize yourself with the bots, the markets, and trading in a real market without risking real capital.

As a new trader, using the demo mode should be your first priority as it helps build discipline, skill, and the temperament required to succeed in the markets. Once you have a good grasp on the basics, move on to the automatic mode.

The automatic mode relies heavily on the algorithm to make a profit. Here, you will create a trading strategy, which you should have practiced in the demo mode, and execute trades. You can tweak your strategy to make it more profitable in the short term.

After gathering some experience using the automated mode and logging consistently profitable trades, you can take a step further to use indicators and develop more complex trading strategies. You will need to revisit the demo mode to test new styles, indicators, and strategies.

At this point, you are a long-term consistently profitable trader who can create complex and sophisticated trading strategies and use various indicators to increase profitability.

Has Bitcode Method Ever Appeared On TV or in the Media?

Unlike several other crypto trading bots, Bitcode Method has not been plagued by as many rumours linking them to TV shows or media houses. We attribute this to the platform’s word-of-mouth strategy.

Bitcode Method has been intentional with its marketing, ensuring that they control at least some of the public narratives around its product.

Has Bitcode Method Ever Been Endorsed by a Celebrity?

As intentional as Bitcode Method has been with its public image, rumors linking the bot to major celebrities, thought leaders, and prominent businesspeople known to back technology startups, still arose. We got to work to find out whether these claims hold any truth.

Richard Branson

Richard Branson is the Entrepreneur and founder of Virgin Galactic. He has been a major supporter of cryptocurrencies like Bitcoin. However, he has not publicly endorsed Bitcode Method.

Elon Musk

Elon Musk is the founder of cutting-edge companies like Tesla, SpaceX, and more recently, Twitter. He is closely related to crypto and has shown immense support for the technology, even to the point of naming himself the Doge father, after the popular crypto, Dogecoin.

While Elon is influential in the crypto world and has shown public support for specific coins like Bitcoin and Dogecoin, he has not backed any specific crypto-adjacent company. Hence, all rumors of him backing Bitcode Method are false.

Bill Gates

Bill Gates is one of the most popular names in the tech industry. The Microsoft founder is known to disapprove of crypto. He has not thrown his support behind any crypto project in the past, including Bitcode Method.

Mark Cuban

Mark Cuban is a billionaire who became rich in the dot com era by selling his broadcasting company. He has been heavily involved in crypto as he owns a few crypto companies that deal with non-fungible tokens (NFTs). He has even advocated for NFTS and cryptos on popular TV shows.

However, despite his affiliations with the industry, Mark Cuban has not publicly endorsed Bitcode Method.

Tips for Using Bitcode Method Safely and Managing Risk

If you want to manage your risk effectively, the following tips can help you greatly.

Start Small

Never risk more money than you can afford to lose, this is the first rule of trading. Many new investors eagerly put in money that they need for important things in the hopes of doubling it, casino style. Unfortunately, this is unwise as trading is risky, no matter how accurate the bot is.

A variation of this mistake that newbies also fall into is to stake all their capital into a single “sure” trade. There are no sure trades, only varying levels of accuracy. Do not risk all your funds in one trade as it is often the trade that ends badly.

Save Some Profits

Reinvesting profits in a bid to grow a trading account may seem like a smart thing to do, but, it is not. When trading with Bitcode Method, make a habit of saving a percentage of your profits. Traders can set aside 50% of their profit to ensure they don’t lose all of their money if the next trade isn’t favorable.

This way, they still get to grow their accounts while creating a financial cushion if anything unexpected happens.

Follow Expert Advice

Serious traders keep up with news and developments in the industry. They listen to popular analysts and industry leaders. They know all the major reports and crypto blogs and read what credible and trustworthy analysts and cryptocurrency gurus predict. They consider all this information when developing personalized investment strategies to increase their chances of success.

Keep a Record for Tax Purposes

Smart traders keep a record of their trades, including the amount of capital investment and profits earned, for tax purposes. They know how much money they have made (or lost) using Bitcode Method and can calculate how much in taxes they owe to the government. Remember that different countries have different crypto tax laws.

Learn About Cryptocurrency

Take the time to learn more about the crypto market. Know when major events are around the corner and the effects they will have on crypto prices. This involves keeping an ear to the streets. A huge token dump by a whale could send prices crashing, pushing an open long position into a loss.

Learning more about crypto puts traders in a better position to make profitable decisions as they incorporate their knowledge into their crypto strategies to increase profit potential.

How to Use Bitcode Method - Step-by-Step Guide

To begin using Bitcode Method:

1. Register for an account on Bitcode Method

To create an account, you’ll need an email address and a phone number. Register on the home page with your full name to start. You should get an email with a verification link to set up your account.

2. Complete the registration form

Follow the link and pass KYC to verify your account. Upload a valid ID and a utility bill to complete the KC process. Next, choose a broker from the list of available options in your region and sign up for an account with them. They are generally regulated but you can double-check to make sure. You’ll need the same documents as before. However, some brokers may require proof of your source of funds.

3. Decide on a trading strategy

Set up a trading strategy by outlining the entry price, take profit price, and stop loss. You can use existing ones or develop yours. Bitcode Method provides educational material so even users with no trading experience can begin using the bot.

4. Practice using the demo account

Test your strategy in the demo account to ensure it works properly. The demo mode uses real market data, so a successful attempt in the demo mode should correlate to a successful trade in a live account, although it is not a guarantee.

5. Make a deposit

The minimum deposit is $250. Check the broker’s deposit methods and limits for more accurate details on what payment channels are available to you. You will not be able to access a live account or the automated trading mode without making a deposit.

6. Set up automatic trading

Activate the automated trading mode to get the bot to trade 24/7. The bot will run with the strategy you lay out and work using the entry, exit, and stop loss levels.

The entry and exit points are straightforward: price points where you open and close the trade, respectively. However, the stop loss is a price point below the entry level for buy trades where the bot will close your position if your trade doesn’t work out.

Stop-loss is a risk management policy determined by the amount of money you are willing to risk on every trade. A rule of thumb is to never risk more than 3% of your total account value on a single trade. Going by this, you should place your stop loss at a price where the loss will be less than 3% of the total value of your trading account.

Bitcode Method Assets, Market, and Options

What Assets Can You Trade Using Bitcode Method?

Bitcode Method supports five major cryptocurrencies namely Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Basic Attention Token (BAT).

The CFDs used to track the prices of tradable assets can be used to speculate on crypto price movements and hedge positions. Traders can use them to either bet that crypto prices will rise (long) or fall (short) and execute these bets.

The profit or loss made is usually the difference between the contract’s opening and closing prices. For example, if a trader opens a Bitcoin long contract at $21,000 and closes it at $23,000, the profit will be $2,000.

If the price were to fall to $18,000, The same trader would lose $3,000.

CFDs also allow traders to take advantage of leverage facilities where brokers lend money to help them set larger positions in a bid to increase profit.

What Leverage Trading Options are There With Bitcode Method?

Bitcode Method offers leverage of up to 5000:1. This means that you can trade up to 5000x more than you invest. However, the higher the leverage, the higher your level of risk. You can lose a lot of money if your trades go bad.

A 5000x leverage is far above the industry standard in regions like the US and is not advised, even for expert traders. Exercise caution when trading with such high leverage.

What are the Spreads on Bitcode Method?

Bitcode Method’s official website offers little information about the spreads. However, they claim that the spreads are competitive.

What Devices Can I Use Bitcode Method on?

Bitcode is a cloud-based software that is compatible with various browsers. Hence, it can be used with multiple devices. Some of them include:

• Desktops: To access Bitcode on your desktop, simply fire up your browser and navigate to the website. You can log into your dashboard to create and implement strategies, monitor positions, and process withdrawals.
• Mobile phone: Bitcode is accessible on mobile phone browsers, provided they are modern and secure. You can access your account dashboard and monitor trades on the go.
• Tablets: Tablets can also be used to access your Bitcode account. You can carry out the same tasks as a desktop, especially if you access the site in landscape mode.

Can I Use Bitcode Method in my Country?

Bitcode Method Review - Final Thoughts

Bitcode Method helps traders to day trade profitably by abstracting the analysis part of the trading process and automating the execution process. The software is powered by machine learning models that analyse price data and train the bot to spot emerging trends and market movements. It then executes winning trades when these patterns are repeated in the market.

The bot stands out from its competitors with its social features that support a trading community. Traders have access to forums where they can meet and interact with others on the same journey as them.

Before trading, ensure that you only invest what you can afford to lose, always take profits and record your taxes, and ensure you are aware of current happenings in the industry. Also, ensure the bot’s day-to-day policies are suitable for you. For example, the minimum deposit is $250, and withdrawals take 24-48 hours.

To begin using Bitcode Method, create an account on the platform.

Bitcode Method Review Methodology

We review crypto robots by aggregating various tests, reviews, and testimonies across the web, allowing us to give you a balanced view that accounts for multiple perspectives. Check out our why trust us and how we test pages for more information on our testing process.

We are aware that the internet is full of false testimonies: there are several purported trading robots out there that are, in fact, scams. For this reason, we find it important to compare information from across the internet in our Bitcode Method review.