Last Updated on September 25, 2022 by Stephan Lindburg
Today we will review a new trading software named Bitcode Prime.
Bitcode Prime is advertised as a fully autonomous exchange robot. This new trading app reportedly uses artificial intelligence technology in order to execute buy and sell orders in a seamless and automated manner. However, we believe Bitcode Prime is a scam. For that reason, we have chosen to blacklist this fraudulent trading platform. We are also recommending that our viewers and members refrain from joining this copied crypto scheme.
We shall not mince words. Our researchers will provide you with verified facts which explain in detail why this fake signals app is just another hoax. We take no pleasure in exposing new get-rich-quick schemes like the Bitcode Prime scam signals software. However, we are obligated to do so since that is the nature of our contract with our readers and viewers.
Bitcode Prime Broker Check: Complaints have led us to the thorny issue of unlicensed brokers and declined withdrawals. Once again, the grievances we received from our members have to do with inability to withdraw existing funds. This is foreseeable, since we encountered the same issues when conducting our £250 deposit test.
When we registered for Bitcode Prime the broker which was assigned to us was named CFD Centre. This broker has a registered business address in Belize. Belize is a very shady legal jurisdiction which is very commonly used by con-artists and criminals as a tax shelter. Another red flag that should catch your attention has to do with how victims are encouraged to try out this new software.
We saw a sponsored advertisement on Facebook. We know that there is a fake news campaign using Elon Musk and Tesla which is very much active these days. So caveat lector and don’t believe everything you read.
Bitcode Prime is what we refer to as the classic “problem site”. It means that when you enter you know how much money you have in your wallet, but very quickly you realize that it’s hard to know what will be left in the end. We made sure that our review is completely transparent and sincere. The same can be said about our conclusions. Be a smart investor, conduct some proper research, and don’t neglect or disregard the facts. Even if you have an unexplained urge to try out new money-making opportunity like the Bitcode Prime scam.
Official Bitcode Prime Website, Login Page, and Members Area: We identified 9 (nine) websites claiming to be the “official” Bitcode Prime App. Don’t trust any of them!
- 1 Scam Evidence
- 2 Fake Bitcode Prime Reviews
- 3 Bitcode Prime Fake News
- 4 What Is Bitcode Prime, Who Is Behind It, And How Does It Work?
- 5 Bitcode Prime Review. Can You Really Access The Cryptocurrency Market With Ease?
- 6 Our £250 Deposit Test: Our Experience, Benefits Versus Drawbacks
- 7 Bitcode Prime: Different Formats Same Hoax
- 8 Bitcode Prime Security And Safety
- 9 An Obscure Sales Pitch And A Dodgy Broker
- 10 Is Bitcode Prime Compatible With Cryptocurrency Exchanges?
- 11 The Bitcode Prime Cashier (Deposits and Withdrawals)
- 12 Regulatory Perspectives
- 13 Bitcode Prime Trust Pilot, Reddit, and Other Forums
- 14 Bonuses, Perks, and Incentives
- 15 Bitcode Prime FAQ
- 16 What About Taxes?
- 17 Hidden Charges or Fees
- 18 Tested Alternatives That Actually Work!
- 19 Bitcode Prime Review, Summary, Conclusions, and Closing Arguments
To explain our point, Bitcode Prime is a sloppy copy/paste job and the scammers either forgot or neglected to change the sales presentation with the old logos. Here is the original website and you can see that everything is completely the same with one exception, the logo.
Here we have one of the Bitcode Prime “Beta Testers”. You can see that he is nothing more than a cheap fiverr actor. We despise fake testimonials, but this time the creators of Bitcode Prime have really taken it a step too far and we shall hold them accountable for their actions.
Fake Bitcode Prime Reviews
Some professional finance websites are trying to convince you that Bitcode Prime is your ticket and an easy pathway to financial independence. They are also telling viewers that this boy utilizes a unique hedging strategy that minimizes risks. We beg to differ, and if someone tries to convince you otherwise simply refer them to this page. Then ask them what they have to say about it.
There is one website in particular which boldly claims this software generates “€1,000” every day for its members. We encourage you to avoid all those stylish or “smart” looking websites that may look very nice but are extremely deceptive. Instead, look for diverging opinions and be a smart consumer!
Here are a few excerpts taken from various websites that are making some very bold (not to mention untruthful) claims:
- This platform utilizes a “superb technology” that allows you to execute successful trades.
- A trading app that scans the internet and suggests “the best” possible entry and exit signals for cryptocurrency CFD contracts.
- A “convenient” and easy to use software that lets you trade at “your own pace”.
- A no-nonsense Bitcoin trading app “for the masses”.
The excerpts above are typical persuasion tactics employed by highly skilled scammers. We implore you to act with prudence and think twice before you decide to take action and risk your money based on biased reviews.
Bitcode Prime Fake News
Fraudsters are relentless. They are using Martin Lewis to promote Bitcode Prime. There are other celebrities like Ryan Reynolds, Carlos Slim, Amazon Executive Chairman Jeff Bezos (see image below), and members of the Dragons Den as well as Shark Tank that are also being used in the same manipulative manner.
Many of the fake news articles use logos from highly reputable and recognized media outlets in order to make the article seem more believable or convincing. If you are in the UK then the logos that are illegally used are from the BBC, The Daily Mail, The Guardian, and Good Morning Britain. Viewers from countries such as Sweden, Norway, Canada, Finland, Denmark, The Netherlands, Hungary, Spain, Portugal, Australia, and Singapore will see articles with a similar nature that have been adapted to their country.
What Is Bitcode Prime, Who Is Behind It, And How Does It Work?
Bitcode Prime is, as the name may suggest a trading robot for digital currencies. It is said that it is powered by Artificial Intelligence. One version claims that there is a real person behind it, but does not elaborate. There are other versions, each one offers a different narrative. However, in all cases the websites talk about a type of trading robot.
Bitcode Prime Review. Can You Really Access The Cryptocurrency Market With Ease?
Today, we will expose the Bitcode Prime scam. We will start with a few simple facts. First and foremost, Bitcode Prime does not offer a trading dashboard. If this leaves you bewildered it means you are new to the crypto trading scene.
Most get-rich-quick schemes do not offer any kind of signals dashboard. They simply redirect users to a CFD broker and let the sales rep take it from there. Secondly, we conducted a URL check with whoise. All versions we found which claim to be the official website are under 6 months old. That means the various claims in the sales pages are fabricated.
Thirdly, Bitcode Prime is totally anonymous. We tried to message the support staff, but failed to receive a proper answer. This leads us to another troubling issue; customer support. The service is atrocious. There is no other word to describe it, well maybe abysmal. Are you starting to get the picture?
But all that isn’t the main issue, which leads us to the most important part of our Bitcode Prime review.
Our £250 Deposit Test: Our Experience, Benefits Versus Drawbacks
Initially things seemed to go smoothly when we started our investigation. Depositing was quite simple, and this time we funded our account with Ethereum. But right afterwards is when everything started to go downhill. After our initial deposit we were assigned a new account manager named Ethan Randleman. Ethan was very kind and professional at first. But after we lost our money, which happened after 10 minutes he started to become obsessed with us.
That’s when we had this unsettling feeling. We felt that we were being led by the nose by professional con artists. That feeling was exacerbated when we started receiving additional phone calls from other account managers. They all wanted us to add money to our account.
One person who was extremely rude instructed us to an an additional £4000 or risk having our account frozen. That was our cut-off point and where we actually switched our phone number. After a period of 3 days we started receiving SPAM emails about other systems. Everything seemed to follow the same pattern of deceptive messages.
Bitcode Prime: Different Formats Same Hoax
After some time passed we started noticing additional variants of the Bitcode Prime scam popping up. In fact, these sites appeared like mushrooms after the rain. It was very quick and they all seemed to be very convincing to the naked eye. Here we have a screenshot of one version for you. Feel free to click the image to enlarge it.
Bitcode Prime Security And Safety
Just having an SSL certificate on a domain does not mean that a website is secure. In fact, in many cases the padlock serves as a kind of fig leaf in order to cover up something much more sinister. Bitcode Prime would have you believe you are trading in a secure environment, but this is a lie. Just like everything else on that dodgy website.
In fact, Bitcode Prime was flagged by McAfee anti-virus as a “suspicious” website (see above). Initially we didn’t exactly know what triggered this warning, but they did mention “consumer protection”. So we checked and found out that websites that are flagged with a consumer protection warning usually “try to rob or cheat customers”. McAfee also mentions selling “counterfeit products”. This type of classification further validates our conclusions and findings.
Pro Tip: There are too many websites endorsing this software. It’s always a good idea to search for different points of view! The truth is out there.
Some websites have actually stated that Bitcode Prime uses a TFA or two-factor authentication protocol. This is a blatant lie which is designed to disguise the truth. In fact, no authentication of any kind is required in order to register. Anyone over the age of 21 can simply enroll and unscrupulous CFD brokers will gladly accept their money.
Avast Brands Bitcode Prime As A “Scam”
Avast, one of the most recognized antivirus protection software providers in the world has recently published a blog post which explains in detail how Bitcode Prime victims are targeted. Below is a screenshot taken from the article which breaks down the geographical locations targeted by scammers.
For some reason con artists are primarily targeting residents of the Czech Republic this time. It’s also mentioned that viewers are baited via ads on Facebook (as we have already mentioned) and spam email. We’d like to remind you that emails with attachments are particularly dangerous since they require you to open a file. In many cases once that file is open a virus is installed on your computer or device.
An Obscure Sales Pitch And A Dodgy Broker
While trying to decipher what the main selling point is behind this fishy auto-trader we found ourselves completely baffled. Its true, auto-trading is mentioned, but there are many systems offering similar services. We have put together a little chart which outlines the major features or characteristics we found to be lacking.
|Bitcode Prime||Industry Benchmarks|
|Back Testing||There is no back-testing or performance checks.|
|Quality Assurance||There is no software, so no QA is needed.|
|Comparative Data||We don't really see how it is compared to the rest.|
|Technical Specifications||There is no mention of the type of coding which is used.|
|Product Roadmap||We are left in the dark here as well.|
Of course, there is always the issue relating to the broker. We found that experience to be particularly unpleasant as well. We have already elaborated about this point in the initial part of our Bitcode Prime review.
Bitcode Prime Leverage
Members joining this program will be offered a leverage of up to 5,000:1. This is an insane amount of leverage, and if you choose to take it you risk losing more than your initial investment. Leverage is like a loan, and you are required to pay it back regardless of your balance. There are many horror stories regarding leverage, and if you don’t want to end up on the streets you should refrain from accepting it.
Long or Short Positions?
The app is advertised as a software that facilitates long or short positions for a variety of assets. But that is another lie and there are no settings that allow you to place long or short positions based on market fluctuations or trends. There are sites who claim otherwise but we know better after testing it ourselves.
Is Bitcode Prime Compatible With Cryptocurrency Exchanges?
No. You will not be able to use the Bitcode Prime app when trading with exchanges such as Kraken, Binance, or Coinbase. Some websites are deliberately lying to you about it. This is done in order to make Bitcode Prime seem more legitimate. Don’t believe it for a second.
Is Bitcode Prime A Mobile Friendly App?
Most versions of this fraudulent service offer a mobile-friendly solution. We checked in the App store and Google Play, but so far we were not able to find an app. This will change very soon since scammers will use any tool at their disposal to bait you.
The Bitcode Prime Cashier (Deposits and Withdrawals)
We have been asked about depositing options that are available with the Bitcode Prime scam software. Depending on where you are from depositing is a simple task in most cases. During our tests, we found out that after registration we were instantly directed to fund our account via digital currencies. In other cases we were referred to a blank page with a message saying to wait for a call. Other times we actually saw the broker page and a deposit button.
So depositing was really very easy, regardless of what happened after we registered. The problems started when we started asking about withdrawals. We conducted two tests. We funded our account, and then immediately proceeded to cash out. In both cases the withdrawal request was declined and our account was shut down. The password was changed and we were not able to login.
From a legal perspective Bitcode Prime fails an every possible way. We searched the regulator websites starting with CySec, BaFin, and AMF. We could not find a license number associated with Bitcode Prime. Then we moved on to Patenting. We checked the European Patent Office. Bitcode Prime was never granted a patent. Then we moved on to ISO certifications. These are technical requirements or standards that are set in place to make sure the software is functional.
Pay attention. Members registering for the Bitcode Prime scam don’t qualify for investor protection. That’s because we are dealing with an illegal operation. Once you invest you can forget about your money, its gone!
While conducting our Bitcode Prime review we also checked confidentiality of personal information. The Bitcode Prime website has no mention of this anywhere. Lastly we checked PCI Compliance. PCI Compliance are additional standardized technical protocol requirements. They are designed to set quality control measures for firewall settings and storage of personal financial data like credit card information. We received no response from Bitcode Prime support staff about that as well.
Bitcode Prime Trust Pilot, Reddit, and Other Forums
We have already seen fake profiles posting reviews that endorse the Bitcode Prime scam app. They exist on Trust Pilot, Reddit, and even on YouTube. Anyone can pose as a financial expert on these social review platforms and say what they wish. We encourage you to seek professional websites that specialize in the cryptocurrency trading niche and avoid others.
How Much Money Are Affiliate Networks Willing To Pay For New Investors?
It has come to our attention that certain affiliate networks are paying as much as $900 for new paying customers. With a minimum investment of $250, it can only mean that brokers understand how to get investors to make additional deposits.
Bonuses, Perks, and Incentives
When we lost our money we were immediately contacted by another “Senior Account Manager” named Nelson Sorrento. Nelson offered us a 50% match bonus on a deposit of £1000 or higher up to £2000 in bonus cash. What this charlatan neglected to mention was that these bonuses are not free.
Once accepted, customers have to trade 35 times the bonus amount in order to cash out. That’s practically impossible, and Sorrento knew it. We believe this person used an alias, since we heard someone else approach him and calling him Petro.
For the reasons above, we encourage you to avoid accepting any type of bonus or incentive of any kind. Everything has a price, and this time it is simply too much to pay. Avoid this trap.
Bitcode Prime FAQ
Bitcode Prime is supposed to be an automated trading app for cryptocurrencies. However, all evidence points to the fact that it's a scam.
Absolutely not. Bitcode Prime is not even a software. It's simply a marketing platform which is used by scammers to promote their get-rich-quick schemes.
Yes. A CFD broker is allocated for you when you register. All our tests indicate that these brokers operate without a license.
No. These advertisements are not real and Facebook is constantly trying to shut them down. Sometimes they are successful but many times they are not.
No. That money is gone and chances are you will never see it again. Some people lose a lot more so if you only lost €250 consider it a lesson learned and move on.
What About Taxes?
Don’t be too concerned about taxes related to the Bitcode Prime scam. Taxes are levied on profits not losses. Since Bitcode Prime is a losing app, you will have no income to declare with your local tax authorities.
Hidden Charges or Fees
Bitcode Prime doesn’t have any hidden fees or charges. That’s because there is no need! The app is dirty and was designed with the specific intent of defrauding new investors. These con artists aren’t looking for breadcrumbs, they want to eat the whole pie!
Tested Alternatives That Actually Work!
We usually get asked about legitimate systems. If you are searching for a trusted trading app we have a few for you. Our recommended section offers a few of the finest and most consistently profitable trading apps. We personally test each system and risk our own money before recommending it. So go ahead and check it out!
Bitcode Prime Review, Summary, Conclusions, and Closing Arguments
The verdict is in! Bitcode Prime is officially a scam. Our researchers have produced all the proof you will ever need. We already know that there are many websites out there endorsing it. Please refer anyone who disagrees with us to this review. Then proceed to ask them what they have to say about it.
We encourage you to take a more critical approach when researching investment opportunities. We believe that Bitcode Prime is a textbook example of everything that’s wrong with online trading today. Should you require any additional information or corroborating evidence, please reach out and message us. We typically tend to respond within 24 hours.