Even though the cryptocurrency trading industry isn’t as big as the forex one, it’s still growing at an astounding pace. Unfortunately, with this spectacular growth in the crypto-trading industry, scammers have also mushroomed. Keep on reading to know more about Bitcoin Code scam, one of the biggest scams in this industry.
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What is Bitcoin Code?
Bitcoin Code is a software that allows traders to execute automated trades. It claims that it can generate as much as 100% profit every day through trading in digital assets.
The software contains algorithms designed to search for the best cryptocurrencies deals on the market. That way, its customers would be able to know when to buy low and sell high.
As a customer, you don’t have too much to do in order to use an automated trading bot, such as The Bitcoin Code. In fact, you just need to create a new account and configure the settings you desire. After that, all that remains is to turn the bot on.
Once you’re done, you’re supposedly going to make tons of money within every day. Doesn’t it sound already a bit shady?!
So, Is Bitcoin Code Really a Scam?
Upon walking through many reviews of the Bitcoin Code system, some crypto-traders have said that it’s not a scam. According to them, it’s just a matter of configuring the software’s settings correctly.
Rather than believe these reviews (which most of them are probably fake), we decided to investigate and test this software by ourselves. So, here’s what we found in our Bitcoin Code review:
Steve McKay is a Fake Character
According to the Bitcoin Code’s website, this software was created by a person called Steve McKay. His name appears beside a picture of a handsome, rich-looking man.
When we performed a reverse search on Google on that picture, we found out that Mr. Steve McKay has nothing to do with Bitcoin Code. In fact, this scam’s designers have just stole this picture from the internet!
Fake Testimonials on the Bitcoin Code Website
The first warning sign we received about Bitcoin Code being illegitimate is the fact that the testimonials posted on this software’s website are fake. For example, there’s a video featuring a man that talks about how he made a great deal from investing his money on the Bitcoin Code software.
However, after we investigated further, we found out that this man is actually a freelance actor who provides his services on Fiverr, which is a website that helps freelancers to find odd jobs.
Strange Trading Account
An authentic trading software is supposed to place trades on your behalf, display technical market indicators and trading alerts, while you control all these settings.
However, on Bitcoin Code, you’re simply asked to make an initial minimum deposit of $250 into your account. Even after that, the software isn’t shown to you. This sounds suspicious, right? You have no idea how it works or how is it configured. What this actually feels like is that this software is in reality just a funnel to get gullible traders to deposit money into an unknown offshore scam broker.
Outlandish Claims of 99.4% Accuracy on Trades
This software claims to have a trading accuracy of 99.4% on winning trades, which is simply impossible. Even the world’s best trading bot, Option Robot, can only ensure an accuracy level of 80% to 90%, at best.
At the left corner of the Bitcoin Code’s website, there’s a widget that shows the number of available copies of this software. So, we made a little check for its reliability. For that, we first visited the website. It showed that 5 copies are available. Second, we bought all 5 copies claimed to be available. Third, we went back and checked again. Surprisingly (or not), it still showed that 5 copies are available.
As a result, it can be concluded that this trading broker creates a sense of false urgency in order to get people to immediately invest in their platform.
After doing some digging about the software, we would advise crypto-traders to avoid the temptation of using this scam software. In general, this advise is relevant to whoever tries to find a legit way to make money online. Bitcoin Code is a scam. Therefore, if you do use it, you will likely lose all your money.
Got Scammed? How To Get Your Money Back?
We know the frustration you feel after being scammed. At a certain point, you feel lost, and you have no idea what to do next. It’s a traumatic experience. What you’re feeling is valid and understandable. However, you don’t have to dwell in that dark place for a long time.
All hope is not lost as there are various ways to get your stolen money back. Yes, you read that right. If you have been scammed, you can apply these tips to increase your chances to retrieve your money from those shameless scammers.
If you paid using a credit card, you can use chargeback to request a refund from your bank card provider. In addition, you can also use chargeback if you paid using a debit card. A word of caution, though, there are requirements before this applies, so know them first.
You can also file a complaint about the PSP (Payment service provider) and demand for reimbursement. If you’ve been scammed and the banks involved are not doing what they are supposed to do, you should be refunded after the fraud happens.
But if nothing still works at your advantage, and you need further assistance, you can contact us through our email, [email protected]. We will help you in any way we can. Don’t worry. We’ve got you covered!