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With the growing interest in cryptocurrency trading, many platforms have emerged claiming to offer automated solutions to help traders profit seamlessly. A good example of such a platform is Bitcoin Code. Unlike other platforms, Bitcoin Code promotes itself as a high-accuracy trading robot, promising huge profits with minimal effort.
However, a closer look at this platform raises serious concerns. For instance, you might be wondering, ‘Is Bitcoin Code legit? or ‘Is the Bitcoin Code a scam?’. If such questions linger in your mind, you’ll find the answers you seek here. In this Bitcoin Code review, I address the legitimacy of Bitcoin Code and determine whether it is a scam or not.
In This Guide
Bitcoin Code is a Scam: Why?
Bitcoin Code promises sky-high profits via an ‘intelligent’ automated trading bot that supposedly beats the market with a whopping 99.4% accuracy. Despite its bold promises of daily profits with minimal efforts, in my opinion, Bitcoin Code is a scam and here’s why:
- Unrealistic claims: The platform claims that users can earn thousands of dollars per day on autopilot. Unfortunately, no legitimate trading system can guarantee such returns in a market that is as volatile and unpredictable as cryptocurrency. Promises of effortless riches are a classic tactic scammy platforms use to lure unsuspecting investors.
- Fake testimonials and celebrity endorsements: Most websites that promote Bitcoin Code use fake reviews and endorsements from celebrities who have never supported or used the platform. This further reinforces the allegation that Bitcoin Code is a scam.
- Withdrawal bottlenecks: Several users have claimed that they were able to make deposits successfully. However, everything turned into a nightmare when it came to making withdrawals. Some were either unable to withdraw their funds or were asked to deposit more money to unlock withdrawals.
- Pushy sales tactics: After registering, users were bombarded with aggressive emails or calls pressuring them to deposit funds as soon as possible. Legitimate brokers do not operate this way.
Bitcoin Code Regulation
One of the biggest dangers of using Bitcoin Code is that it is completely unregulated by any financial authority. Ideally, a legitimate broker is always licensed by recognised and reputable financial authorities such as:
- FCA – Financial Conduct Authority (UK)
- CFTC or SEC – Commodity Futures Trading Commission / Securities and Exchange Commission (USA)
- CySEC – Cyprus Securities and Exchange Commission (EU)
- ASIC – Australian Securities and Investments Commission (Australia)
The bad news is that, based on my findings, Bitcoin Code is not regulated by any of the mentioned financial authorities. Therefore, there is no consumer protection, making it extremely risky to trust it with your hard-earned money. Without any sense of oversight, the platform is likely to manipulate trades, deny withdrawals, or even vanish entirely.
How to Recover Your Funds if You Got Scammed
Suppose you have already fallen victim to the Bitcoin Code scam; do not lose hope. The following are vital steps that you should consider to recover your funds:
- Stop all communication: Do not reply to emails or calls from the platform. They might try to scam you again by promising fake refunds.
- Reach out to your bank or credit card provider: If you deposited money via credit card or bank transfer, consider initiating a chargeback as soon as possible.
- Report the scam: Submit a complaint to your country’s financial regulator. Depending on the country you reside in, you can report it to Action Fraud (UK) or IC3.gov (USA). Better still, you can report the scam to your local consumer protection agencies.
- Use legitimate recovery services: Some law firms and financial fraud recovery companies specialise in cryptocurrency scams. You can use their services if you have been scammed and want to recover your funds. That said, you should verify their legitimacy before paying for services.
- Alert everyone: Leave reviews on scam-tracking forums and websites to warn others. Sharing your experience on such platforms can help others avoid falling prey to such scams.
Our Broker Finder Can Help You Choose the Safest Broker
To avoid scams like Bitcoin Code fake platforms, I urge you to choose a regulated broker. Thankfully, our broker finder tool can help you get started. Whether you are a beginner or a seasoned investor, our broker finder tool will match you with a broker that offers the following:
- Full regulatory licensing – Verified by top-tier financial authorities
- Real user reviews – Backed by positive feedback from actual traders
- Transparency and Trust – No shady terms or hidden fees
- Secure, user-friendly platforms – Easy to use, with good customer support services.
Do not risk your money on unverified platforms. Instead, use our broker finder tool today to ensure you get matched with a safe, trustworthy broker that suits your needs.
Find my brokerHow to Stay Safe from Scams When Choosing a Trading Broker
When choosing a trading broker, it is essential that you stay safe from scams such as Bitcoin Code fake trading bots. To make this a reality, you should consider the following ideas:
- Check for licensing: Your trading broker of choice should be licensed by the financial regulator that operates in your country. If the broker is not licensed, your chances of getting scammed are very high.
- Read independent reviews: Before you choose a trading broker to work with, read independent reviews from reputable forums and websites. While at it, do not only consider testimonials from the broker’s website as they might be biased or doctored.
- Avoid ‘guaranteed profits’ promises: As you look for a trading broker, you might come across some that guarantee profits only. The truth is that no legitimate broker guarantees daily profits with zero risks. If you come across trading brokers who guarantee daily profits, you are likely to get scammed.
- Test the platform: Start with a small deposit and then try to withdraw before you invest more. If the platform allows you to make deposits and withdrawals successfully, chances are that it is legitimate. Consider other alternatives if you cannot withdraw after making a deposit.
- Be wary of pushy calls: High-pressure tactics are a major red flag. Real brokers do not cold-call or pressure you to make a deposit immediately. Therefore, if your broker of choice makes such calls or emails, chances are that it is a scam.
To summarise, Bitcoin Code is a platform full of red flags, lacks regulation, and has scammed multiple users. If you are still wondering, ‘Is Bitcoin Code legit?’, the answer is a resounding no. To be on the safe side, steer clear of shoddy platforms like Bitcoin Code and only rely on licensed and transparent service providers with a proven track record.
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