The demand for crypto currencies is high. The bitcoin price has fallen sharply in recent times, but a recovery is to be expected. Bitcoin Code is advertised on various Internet portals, which promises to generate unbelievable profits within a short period of time and without much effort. This is a trading software system that is to be available free of charge. This article is intended to clarify whether this system is serious.
- 1 Bitcoin Code – What is it?
- 2 What does the Bitcoin Code Software promise?
- 3 What are the Bitcoin Code costs?
- 4 Is Bitcoin Code Fraud And Fake?
- 5 What should I pay attention to with such programs?
- 6 General Bitcoin Code Test
- 7 General Bitcoin Code reviews
- 8 What are the opinions on a payout?
- 9 Is a download necessary for the software?
- 10 So is Bitcoin Code serious?
- 11 Bitcoin Code
Bitcoin Code – What is it?
This product is a trading system that is available free of charge as software on an Internet portal. If you want to use this system, you have to register as a trader on this website and become a member of this system. The provider, Sven Hegel, promises that this system can be used around the clock throughout the world. Prizes of 13,000 euros are promised within 24 hours. In reality, it is an automated algorithm with an integrated trading interface. This algorithm relies on volatile investments, including bitcoin. A lot of money is to be beaten from investments with perfect timing.
The aim of the operators is to rip off the members. The operators of the system enrich themselves by informing members about current attractive trades and getting them to deposit more and more money into their member accounts.
What does the Bitcoin Code Software promise?
The software promises incredibly high profits within a short time. On the website of the system is written about the “insane financial potential of Bitcoin” and about an exclusive group of people who have recognized this potential and have become rich within a short time. With only a few minutes time expenditure on the day the members are to be able to travel around the whole world and earn money completely besides. Members who are not sure if they are really members or fakes describe that they joined this system only a few days ago and have become rich without any trading strategy or previous knowledge. There is talk of six-figure revenues within a few weeks. The system should work as follows:
- Fill in registration form online
- Activate customer account
- Deposit money into customer account
- software and start trading.
Sven Hegel promises that users will become millionaires faster with this trading system than the first investors in Facebook or Uber, and without any previous knowledge.
What are the Bitcoin Code costs?
Nothing about the costs is reported on the Bitcoin Code website. The General Terms and Conditions are available in English and do not contain any information about the costs. However, in order to participate in this system and start trading, you must make a deposit into your account. It appears as if the software is available free of charge. This, however, is the catch. You can only trade if there is enough credit in your account. Bitcoin Code prescribes a minimum balance, the amount of which is not mentioned in the General Terms and Conditions. If you run out of funds in your account, the trade will stop. The costs are as follows:
- free registration
- free account management
- Make a minimum deposit of $250
Is Bitcoin Code Fraud And Fake?
If you research the system on the net, you will find various opinions by which you can recognize that it is a fake. These are general opinions and not personal opinions. Users write about losses or that they made a profit on the first trade and were then repeatedly bombarded with messages or calls. They were tempted to deposit more and more, which led to losses. Another negative aspect is that there are no explanations of the trades. Some users report that they had deposited but the money was not released. Despite the deposit, the account balance was zero the next day after the login. Others report losses in the four-digit range.
What should I pay attention to with such programs?
If you want to use a program for trading in crypto currencies, you should pay attention to security and seriousness. Without a trading strategy, nothing works. Before using such a program, you should thoroughly inform yourself about trading in digital foreign exchange. Once you have found a provider, you should pay attention to security. Serious providers are regulated by a state financial supervisory authority. This can be the German Bafin (Federal Financial Supervisory Authority), the British Financial Services Authority, the Cyprus Securities and Exchange Commission or the United States Securities and Exchange Commission. Which financial supervisory authority is concerned depends on where the provider is based. A reputable broker has detailed explanations. You can use a free demo account for a limited or unlimited period of time with an amount of virtual currency.
With this demo account you can trade without money and work on your trading strategy. This demo account is with reputable providers independent of a deposit to your account. Serious providers only require a small minimum deposit, for example 50 euros. Many reputable systems offer a training program and provide comprehensive explanations. With the help of charts you can get information about current prices of the crypto currencies. An important aspect is safety. Customer funds are deposited with reputable providers in separate accounts, separate from company funds. You are safe even if the provider should get into financial difficulties.
General Bitcoin Code Test
With Bitcoin Code you decide whether you want to trade manually or automatically. When you trade manually, it’s up to you when and how much you invest. This does not work without prior knowledge and trading strategy. With automatic trade, an automatism is available. Trades are executed at random. In reality, customer data is skimmed off. Customers receive many calls to encourage them to continue making deposits. The money goes into the account of an unregulated broker. Bitcoin Code works with several such brokers. These brokers pay the operators of Bitcoin Code to provide them with a large number of customers. For trading to work, an automated trading interface is integrated into the system.
General Bitcoin Code reviews
Positive experiences about the system can only be found directly on the Bitcoin Code website. People report on how they have achieved large sums in a short period of time, without any previous knowledge. The negative experiences outweigh the negative ones. Users report that they had deposited but the money was not released and therefore not available. We are also talking about calls in English to get members to make deposits. The member learned that the trade only works with deposits of at least 25,000 euros. In the end, the member had suffered high losses. More customer reviews can be seen here by clicking this link! *
What are the opinions on a payout?
Members who made high profits with this trading system wrote about a luxury life that they had terminated with their employer and that they had paid off debts in the six-figure range. On various other portals, only losses are reported, but never profits in at least four-digit amounts.
Who is Sven Hegel?
If you click on the trading system, a man named Sven Hegel greets you on the start page. He talks about the fact that he worked as a software developer in a company whose name he does not want to name. He is said to have been entrusted with the development of a program that derives the maximum benefit from investments in Bitcoin. Allegedly, his supervisor put the program into operation to test it. When Hegel learned that the management had no interest in the program, he took the code with him and created the system. The English version shows the same portrait of this mysterious man, who is not Sven Hegel but Steve McKay. He writes exactly what Sven Hegel writes. The question arises whether Sven Hegel even exists. In fact, it is a fictitious person.
Is a download necessary for the software?
A download is not required to use the system. You do not need to install any software on your PC. The system is available to you immediately after you have opened an account. To use the system, you only need to log in with your access data. Then you can use the system immediately.
So is Bitcoin Code serious?
From various facts you can see that this is a fraud:
- Sven Hegel is not a real person.
- the alleged members on the website are fakes, since some of them also appear on other portals under different names.
- no information about how the system works is available on the website
- no regulation through a financial supervisory authority.
The General Terms and Conditions are only available in English. The website has an imprint in which Kryptomarkt Broker GmbH based in Cologne is listed as the operator. If you search the Internet for this operator, you will not find what you are looking for. There is no further information about this operator. A reputable operator needs a FAQ, in which the most frequently asked questions are answered. Such a FAQ is not available on the Bitcoin Code website. A free demo account is also not available. As users report, high deposits are required for this trading system to work. If you want to trade in crypto currencies, you should look for a reputable broker with regulation.