Last Updated on March 23, 2023 by Stephan Lindburg
Hello and welcome to our Bitcode Method review and scam investigation. Bitcode Method is marketed as a new automated trading app for cryptocurrencies such as BTC, ETH, and USDT. The app reportedly works by utilizing 2 sets of algo-based predictive measurement tools. The first is called PMI or predictive mean input, and the second is PMC or predictive market checker. It is said that when these tools indicate the same order (buy or sell), Bitcode Method executes the trade in a seamless manner.
While it’s true that this all sounds very impressive, we know that it is a lie and we have the evidence to back up our claims. Our research staff was able to identify and bring to light highly incriminating pieces of information regarding this latest get-rich-quick scheme. It has also come to our attention that there is a massive fake news campaign which is active as we write this review. This campaign is being accompanied by a slew of fake reviews which are being orchestrated by a London-based affiliate network specializing in search engine promotions.
ScamCryptoRobots.com is probably the only serious reviews website dedicated to exposing CFD-based crypto scams. We encourage you to bookmark our website and use it as a point of reference in future cases as well.
Bitcode Method Review – Broker Check: When we registered to conduct our £250 deposit test, the broker we got was named “Central Coin”. This broker has a listed business address in Seychelles and is not licensed to manage investor portfolios by any legal financial entity.
Are you still interested in investing with this shady crypto trading app? If so, we suggest you take a few minutes to read our Bitcode Method review before risking your money.
Official Bitcode Method Website, Login Page and Members Area: There are at least 8 (Eight) websites claiming to be the “official” Bitcode Method App website. None of them are legit!
- 1 Scam Evidence
- 2 Bitcode Method Fake Testimonials
- 3 Fake Bitcode Method Reviews
- 4 Bitcode Method Fake Celebrity Endorsements
- 5 What Is Bitcode Method, Who Is Behind It and How Does It Work?
- 6 Bitcode Method Review: Cost-Effective Trading App Or Scam Software?
- 7 Bitcode Method: Our £250 Deposit Test And Impressions
- 8 An Interesting Fact
- 9 Testing Review And Methodology
- 10 What Are Other Websites Saying About Bitcode Method?
- 11 Strategies And Backtesting
- 12 Pros And Cons
- 13 Regulatory Perspectives
- 14 Confidentiality of Personal Information
- 15 A Secure Trading Environment?
- 16 Leverage
- 17 Is Bitcode Method Compatible With Any Of The Crypto Exchanges?
- 18 Deposits And Withdrawals
- 19 Trustpilot, Reddit, Social Networks, and Forums
- 20 Bonuses and Incentives
- 21 Bitcode Method FAQ
- 22 Taxes
- 23 Bitcode Method: The Verdict
Here we can see the Bitcode Method website and registration area. We would like you to take a good look at the person who is at the center of the sales video.
Now please look at the images below. You can clearly see that this sales presentation is being used and recycled in a template format. This is what we refer to as a linked scam or an assembly line for get-rich-quick crypto schemes.
Bitcode Method Fake Testimonials
We have seen at least 2 formats of this scheme with fake testimonials. It seems the scammers are infatuated with this type of baiting method since it is obviously very effective. Below is a screenshot taken from one of these phony websites. We checked, these images are scraped from the internet and used in a highly deceptive manner.
Fake Bitcode Method Reviews
It’s not surprising but it is disgusting. There are multiple review websites who are endorsing this fraudulent service, and they all belong to the same affiliate network. Affiliates receive very hefty commissions every time a new member registers from their website. This is the reason they will say or do anything to get you signed up and invested. Don’t forget to check with credible industry watchdog websites before making a decision to risk your money.
Bitcode Method Fake Celebrity Endorsements
This bogus trading platform goes hand-in-hand with fake news campaigns. In most cases scammers will use wealth gurus like Tesla CEO Elon Musk or Amazon Chairman Jeff Bezos in fake celebrity endorsements. We have added a screenshot of a fake Bitcode Method advertisement for you so you could see how the campaigns look like. Additional celebrities or wealth gurus that are typically used for similar schemes include Martin Lewis, Kevin O’Leary, Deborah Meaden, Holly Willoughby, Markus Lanz, Peter Jones, members of the Dragons’ Den, Shark Tank, and Richard Branson.
In many cases you will see these fake ads on Facebook, TikTok, UK Mirror, and even on YouTube. If you are unsure or hesitant about the true nature of these ads please reach out and ask us. It will surely help you save your money.
What Is Bitcode Method, Who Is Behind It and How Does It Work?
Bitcode Method is reportedly an automated trading app for cryptocurrencies. It is completely anonymous and there is no way to know who is behind it. As we have already mentioned, the app supposedly uses algo-based measurement tools for predictive analysis. Based on the results these tools produce, a buy or sell order is generated.
Bitcode Method Review: Cost-Effective Trading App Or Scam Software?
Bitcode Method is a scam, period! There are seemingly professional review websites who will claim otherwise, but don’t believe it for a second. We know this software is a fraud for a variety of reasons, but first and foremost it has to do with the fact that there is no real software that powers the app.
In fact, Bitcode Method should not even be referred to as a software. We are calling it a software for the lack of a better word. In reality, it is closer to a website. That’s pretty much it. There is no real substance or intrinsic value behind this fake app. We have already proven that it is a template which has been recycled many times. Additionally, the fact that this website was created only 3 months ago does not add credibility to a reputation which has already been tarnished by this review.
Bitcode Method: Our £250 Deposit Test And Impressions
After we completed the registration process we were immediately “greeted” by a pushy sales rep named Martin. Martin wanted us to invest more money, but was ultimately willing to accept a £250 deposit. Right after that happened we were introduced to a “Senior” account manager named Gavin who insisted we invest at least £4,000. We told Gavin that we had to see some kind of returns before committing more funds.
At that point our account manager started getting very irritated and plainly told us that he had “bigger fish to fry”. How rude is that? We felt that we were being led by the nose and coerced into investing with a system that was completely fraudulent. But that wasn’t enough! We started getting phone calls from a variety of people. In most cases we were offered alternative trading systems, but other times we were offered special bonuses to join gambling sites. Overall we had a horrible experience with the Bitcode Method scam, and for that reason we are giving it a rating of zero out of five.
An Interesting Fact
When conducting our Bitcode Method review we contacted an FCA representative to receive some information. This person openly admitted that there is was an investigation into similar schemes which were promoted by the same crooks. In fact, he even went so far as to say that anyone involved in the promotion of fraudulent software is risking being fined and even sentenced to jail time. If you wish to receive a transcript of this conversation please message us via our contact page.
Testing Review And Methodology
When we investigate a new system or software our researchers manage their tasks in a scientific manner. That means documenting events and measuring success or failure rates. But it also means finding ways to get feedback from customers or victims.
|Checking Sources||Is the information which is presented in the official website(s) viable and crosschecked with other sources?|
|The Main Selling Proposition||What is the value proposition?|
|Fact Checking Process||Checking references and historical data.|
|Numerical Analysis||Checking the stats and performance.|
|Argue the case!||Getting our point across in a clear and simple manner that is easy to fathom.|
Based on a matrix of parameters we reach a proper conclusion and then proceed to make the relevant recommendations. The chart above represents a partial list of the criteria we look into before making a decision about a certain trading app.
What Are Other Websites Saying About Bitcode Method?
Here is a short list of what other review sites have to say about this hideous service.
➤ The app “leverages artificial intelligence” in order to “help” new members generate profits from the financial or crypto markets.
➤ This platform is a “fully automated” crypto trading system which has been created for both novice as well as more experienced investors.
➤ A newly-launched and highly profitable auto-trader especially designed for CFDs.
This is just a partial list, but enough to get the point across. To put it mildly, this is the industry’s new “darling” and the scammers will do everything in their power to suppress negative reviews. We aim to ruin their plans and teach them a well-deserved lesson!
Strategies And Backtesting
Any decent software offers new members access to new strategies or indicators such as stochastics or Bollinger bands. Bitcode Method does not offer access to any type of strategies. Similarly, new members are not allowed to see comparative data or historical stats which is available in back-testing. This does not surprise us in the least bit simply because it only further validates what we already know. Namely that Bitcode Method is a hoax!
Pros And Cons
Our staff put together a small chart for you which outlines the major pros and cons of the Bitcode Method scam trading platform.
The way we see it, there are no pros and only cons. If you think we are mistaken drop us a line and make a convincing argument!
Bitcode Method is an illegal trading app! It’s not registered with any of the important regulatory entities such as CySec or BaFin. Additionally, were were not able to find any type of patenting information. We checked with EUPL, HM Registry in the UK, and the Australian licensing authorities. No information was available, and that means Bitcode Method is simply illegal.
Confidentiality of Personal Information
Your private personal information is just that, yours! But some people think differently. They believe that once they get their dirty little hands on your information they can resell it and make an extra buck! Such is the case with Bitcode Method.
A Secure Trading Environment?
This platform is very far from being secure or safe. We had our expert technicians check the firewall settings and found out that there is no firewall at all. Additionally, we looked for PCI compliance and ISO documentation.
When a support email bounces it’s a strong indication that security is lax. Serious websites will never allow this situation to occur. Try to be mindful of this fact as well.
We were not able to find anything in the terms and conditions or privacy sections. When we messaged the support staff about it the email bounced and a response never arrived.
Bitcode Method offers new members a leverage of 5000:1 which is insane! Acceptable ratios are 1:10 or 1:15 in regulated forex brands. But when it comes to shady contracts for difference brokers then you are walking down a very slippery slope.
Is Bitcode Method Compatible With Any Of The Crypto Exchanges?
Actually no. This “software” is not supported by any of the major cryptocurrency exchanges such as Binance or FTX. If you happen to see a website which claims the opposite, simply refer them to our review and ask for an explanation.
Deposits And Withdrawals
Funding a trading account through the Bitcode Method website will not be a difficult endeavor. But trying to cash out is a completely different issue. We tried doing it and faced some fierce resistance from the compliance and support staff.
Trustpilot, Reddit, Social Networks, and Forums
We have already seen a few fake profiles on social media like Facebook. These profiles are designed to entice people and persuade them to join Bitcode Method. The same is true for Redditt and Trustpilot.
Bonuses and Incentives
When we registered to try out this system we were offered a massive bonus of £1,000. We quickly realized that this bonus is not a gift and has strings attached. In order for us to be able to withdraw the bonus we had to trade the bonus and deposit amount 36 times. This is virtually impossible and the scammers are aware of it. The bonuses are designed to keep you trading and engaged, but have no real value.
Bitcode Method FAQ
What Is Bitcode Method?
Bitcode Method is supposed to be a new auto-trading software for cryptocurrency contracts. However, it is just a hyped-up website which is being very aggressively promoted.
Can I Use Bitcode Method To Generate Passive Income?
Absolutely not. As we have clearly demonstrated, this trading platform is totally fraudulent.
Why Are Other Websites Saying Bitcode Method Is Legitimate?
There are websites that place their immediate financial gains first. For that reason they will say or do anything in order to gain deliver new paying customers for phony CFD brokers.
I Saw An Advertisement With Bitcode Method and Jeff Bezos. Is That Real?
Absolutely not! Scammers are well-known for using fake celebrity endorsements for promotional purposes. Don't believe it for a second!
I Signed Up And Keep Getting Called. How To I Stop It?
The best way to stop incessant phone calls is to actually answer and say that you don't have money. Just say you thought it was for free and then they will leave you alone. Keep repeating the message.
Have no fear! You needn’t be concerned with paying taxes at all. That’s because taxes are only paid when profits are generated. Since we have already established that Bitcode Method is a losing software, taxes are the last thing that should be on your mind.
If you are searching for a truly genuine trading app which has been tested and proven to be profitable then you can stop here. We offer our members access to a few hand-picked systems which have passed our screening process and generate consistent profits.
It’s also important to mention that we always risk our own money first before making recommendations. So go ahead, check out our updated recommended section.
Bitcode Method: The Verdict
The Bitcode Method scam software is not a trustworthy trading app. We know that there are a lot of websites out there endorsing this software. If you take their word for it and believe their lies you will surely end up losing your money as well as a healthy dose of self-dignity.
For that reason we are blacklisting this fraudulent signals platform in our Bitcode Method review and advising our members and viewers to refrain from joining. Should you require additional information please reach out and message us through our contact page.