The Bitcoin Code is an automated binary options trading software platform that supposedly harnesses the power of cryptocurrency to make ridiculous amounts of money without putting any effort into the process. Sadly, the truth is that The Bitcoin Code has nothing to do with Bitcoin or any other digital currency but is instead just yet another automated trader bot scam looking to fleece unwary investors out of their money.
What Is The Bitcoin Code?
The Bitcoin Code is supposedly the brainchild of “Steve McKay,” a former investment banker that stumbled across a new way of designing software algorithms that are incredibly accurate.
The website says that McKay, who is now a multimillionaire after developing this auto trading bot, has been featured in major news outlets like Forbes and CNN. However, there's no evidence of this. Not only that, but the image used for McKay is taken from a stock photo image site, strongly indicating that there is no “Steve McKay” and that he's just a fabrication to help sell the business opportunity.
Meanwhile, checking the site's registration info reveals nothing, thanks to the website being registered through an anonymous domain name registration service. The only information we do have is that the site was registered on June 19th, 2017.
As usual, if there's a company that isn't up front about who runs it – or who goes to great lengths to conceal who's behind it – it's a surefire red flag.
The Bitcoin Code Product
The Bitcoin Code is a “free” auto trader bot that supposedly lets you gain access to the miraculous world of cryptocurrency trading. Access to the software doesn't cost anything, but in order to use the software, you need to open an account with one of the company's “trusted partners” – an online broker.
Opening an account with one of these brokers is going to cost you a minimum of $250. You can then use that money to make binary options trades with the auto trader bot.
The Bitcoin Code Opportunity
Listening to The Bitcoin Code will have you convinced that the auto trader bot can provide you with $550 an hour or more, just from letting it run. If the bot worked, this would be an amazing, groundbreaking way to earn completely passive income. Unfortunately, it doesn't work.
The Bitcoin Code Verdict
The Bitcoin Code tells a great story about how investing in Bitcoin is the next big thing, and that using its free service will leave you rolling in the dough. It goes to great lengths to convince you of this, hiring professional actors to provide fake testimonials about how much money they're earned using the auto trader bot, but the truth is that there's no Bitcoin involved in this scam.
Instead, The Bitcoin Code is a slightly dressed-up binary options auto trader scam that tricks you into signing up with an online broker. These brokers offer affiliates who drive business to them a cut of the profits, so a portion of that $250 deposit goes to scammers like those behind The Bitcoin Code for every duped investor that signs up. That's why the service is “free.”
Meanwhile, if The Bitcoin Code was about trading cryptocurrency, you wouldn't even need one of these online brokers. Anyone can purchase and trade cryptocurrencies themselves through a public online exchange – no brokers are needed, just some specific internet know-how.
It's true that you can make a decent living from playing cryptocurrency exchanges. However, you can also lose your shirt, thanks to its volatility. There's no way you can trade Bitcoin reliably with a bot, though – the market is just too turbulent to allow for highly accurate algorithm predictions.
If you do want to learn more about trading Bitcoin, there are plenty of resources out there – many of which are free to use or learn. Don't buy into the hype of The Bitcoin Code, though – it's nothing but a brazen online broker affiliate scam, one of many that are out there right now.