Ethereum Code Review: Scam or Legit? The Ultimate Test ByPatrick WebberPRO INVESTOR Updated: 13 October 2021 Ethereum Code is a trading platform that specializes in speculating on Ethereum to allegedly generate profits for users. There’s quite some controversy around this crypto robot. One of the reasons for that is the little information that can be found about the application. But, hey! That’s why we are here. We decided to test the Ethereum Code app and share with you our take on this crypto robot software. Let’s dive in! Robot Rating Properties Trade 1 The best choice 88% Claimed Win Rate - Appears to be legit $/£ 250 Min Deposit Accepts Debit and Credit Card Trade Now Trade at your own risk. InsideBitcoins does not accept liability for any losses. On this Page:Contents [show] Is Ethereum Code legit? Our Findings! Based on our review of both the information found on the Ethereum Code website as well as reviews from users, this robot appears to be legit. The operators of the Ethereum Code do not require any payment information from you. Instead, they are using a broker to handle the payments. Therefore, you do not have to provide your credit card or PayPal details when using the service. If you are a beginner trader, we recommend you to read user guides and test the demo trading platform (we advise every trader to do this) before using the live trading app of the crypto robot solution. In case you are new to Ethereum Code, do not deposit more than $250 as your initial investment. This way, you can minimize your losses if the bots make unprofitable trades. Learn more about trading robots by reading our bitcoin robot guide What is Ethereum Code? Ethereum Code is a self-proclaimed crypto robot app that harnesses the power of algorithmic trading technology and takes advantage of the volatile nature of the cryptocurrency market. The robot is said to use its bots to take advantage of that and generate profits automatically. It means that after you do an Ethereum Code sign-up, you don’t have to deploy your own technical analysis, indicators, and strategies. The application works as most of the crypto robot solutions: you don’t need to do anything besides monitoring the performance of the bot after setting it up. But before showing how the application works, let’s analyze a few things first, including general information about the service, the Ethereum Code website, and whether the platform is legit. By analyzing the site of the service, we will draw further conclusions in another section where we discuss reviews from other users. According to the video on the homepage, the Ethereum Code is currently holding its beta test, and the operators invite users for testing. They claim that only limited places are available. However, we couldn’t verify this as companies often use the “limited” word to emphasize scarcity. The video also shows the creator of the application and the CEO of Ethereum Code, Mark Weston. According to Weston, the idea of Ethereum Code came from a time when he was working in a 9-5 office job at a multinational software corporation. He was intrigued by one of his colleague who was an early Bitcoin investor and made thousands of dollars with his investment. Missing the “Bitcoin boat,” Weston decided to get into automated cryptocurrency trading. According to the video, he created his own application - Ethereum Code - as he did not have success with other platforms. How does Ethereum Code Work? The operators on the Ethereum Code website stated that their app uses cloud tech to operate every day every hour throughout the year. There are no downloads required to use the application. Furthermore, the team claims that their platform is “lightning fast” due to the state of the art algorithms they use to scan the markets numerous times in every minute in order to find opportunities for cryptocurrency trading. The operators of the Ethereum Code also claimed on the website that the profits users make via the crypto robots are completely tax-free. However, you should take this statement with a grain of salt. Every country’s government taxes both traders and investors so there’s a chance that you have to pay taxes for using an automated cryptocurrency trading platform like Ethereum Code. We recommend you to consult with an accountant. Analyzing the website, we believe the operators of the Ethereum Code app seem legit. However, you shouldn’t take any of their promises as a guarantee. The Ethereum Code team claims that users can make over $3,000 of profits by using this app. However - knowing that $3,000 a day would make you a millionaire by the end of the first year -, you shouldn’t take that promise as granted. The reason for that is that every trader is different and the market changes minute by minute. While it is possible to make $3,000 in a day in a bull market, it does not mean that you will get the same amount of profits the other day or when the cryptocurrency market crashes or with this particular app. What Weston states regarding Ethereum is true. The coin has made numerous people rich who were early investors or just invested in the right time. There are also traders who have allegedly made serious profits by only trading cryptocurrencies on a daily basis. We can also confirm the fact that a part of automated digital currency trading platforms are not profitable as some of them are operated by scammers while others have low-performance bots that do not provide the income most users are looking for. So, judging by only the website, we don’t think that the Ethereum Code system is a scam. Who founded Ethereum Code? Ethereum Code is founded by a self-proclaimed accountant by the name of Mark Weston. The founder and CEO of the service claim to have worked at a major multinational software corporation. However, he left it to become a cryptocurrency trader himself. After he had tried multiple automated digital currency trading platforms, he realized that a part of them wants him to lose money (he may have referred to scammers). According to the video found on the Ethereum Code homepage, Weston then decided to create his own algorithmic cryptocurrency trading platform that focuses mainly on Ethereum. How does the Ethereum Code system work? Now that you know lots of info about the website and the creator of the crypto robot platform, it’s time to test the Ethereum Code app. So, we went with creating an account at the service. We have used the demo platform of the service that simulates live trading with virtual money in the same market conditions and trading environment. The operators of the Ethereum Code software had mentioned on their website that the app is working on the cloud. We can confirm that - you don’t need to download anything to turn on the platform’s robots. You just need to create an Ethereum Code account, head to the demo trading platform and turn them on. Then the cryptocurrency bots will do all the trading for you. You only have to carefully monitor their performance (which is crucial if you are using the live trading platform). What’s great in Ethereum Code that it does not need you to develop your own strategies and settings to start the bots. Other automated cryptocurrency trading services may require to set one or both of the aforementioned options, which can sometimes become time-consuming. On the other hand, when you are using the Ethereum Code app, the only thing you need to do is click the live button. The operators of the platform have already set up their own settings for every user, which have worked for them in the past (and hopefully will work in the future too). Remember that our test was done through a demo account and therefore should not be taken as a guarantee of what you get in live trading. Ethereum Code is not the only legit platform though. Visit our bitcoin robot page to see all your options. How to place trades on Ethereum Code STEP ONE: Register a free account To trade on the Ethereum Code platform, you need to first create an account at the service. To do that, navigate to the homepage of the automated cryptocurrency trading app. You’ll see a short form on the right side of the page with the headline “Start Now.” Fill it out with your name and email; then the Ethereum Code website will take you to the next page where a new form will appear requesting further details from you. Provide all the information, including your full name, desired password, phone number, and country of residence. When you are done, proceed to the next step. Step 2: demo trading So, your Ethereum Code account is now officially created. Well done! But, before funding your account and using the live trading platform of the service, it is essential to test the bots of the algorithmic crypto trading app - as we did in our review. While you can have basic information on the performance of the Ethereum Code cryptocurrency robots from our review and customer testimonials, it is recommended to test them for yourself too. We mentioned the reason for that before: the market changes every minute and every trader gets different results when testing the crypto robots. To use the demo trading platform of Ethereum Code, click “Go to Demo” on the left side tab. The platform will take you to a new page that you can use to test the algorithmic cryptocurrency trading bots. At first, you’ll see a message stating that your account has been credited with $1,500 worth of virtual funds. You can use that to simulate trading by using real market conditions without any risks. To turn on your bots, you have to click the red “Off” button under “Auto Trading.” The bots then will start trading cryptocurrencies automatically within a few seconds. You can leave the bot to trade for at least 20-30 minutes. Step 3: deposit funds The next step is to deposit funds into your Ethereum Code account. If you have not done already, click “Go to Live” on the left side of the page. The site will take you back to the live Trading Room of the app. Now, click the “Deposit” button under the “Current Brokers” section. A message will appear stating that you have initiated the deposit process and the administrators of the service will soon contact you with more information on how to fund your account. Wait for their message (it shouldn’t take longer than a few days) and follow their instructions carefully. Step 4: let the robot place trades on your behalf You can start using the live trading platform of the crypto robot app as soon as your funds are credited on your account. Starting the bots on the live trading platform is similar to the demo platform. You need to find the red “Off” button under “Auto Trading” and click it. The bots will start automatically within a few seconds. Please make sure that you are carefully monitoring the performance of the app as you are now trading with real money (not like at the demo platform). Good luck trading! What makes this crypto trading software special? Now, that you know almost everything about the Ethereum Code app, let us highlight some of its features that make the algorithmic cryptocurrency trading platform unique. Firstly, when we were using the demo, we found it to be very easy to use. We are not sure about the real platform but there is a high likelihood that it is similar to the demo. We also find this robot to likely to be legit. Remember that we are only stating our findings and not recommending anything. It is therefore prudent that you take the necessary precautionary measures when using this robot. The Verdict: Is Ethereum Code Legit? Let’s summarize all the crucial parts of this review to draw our conclusions. Firstly, we have taken a look at the Ethereum Code website, which we think is quite okay. There are no false promises as well as unrealistic statements (unlike what we have found on some competitor sites). There’s a part about Mark Weston, the creator of the app who has founded Ethereum Code to take advantage of the growing cryptocurrency market, and especially Ethereum itself. The app is currently in its beta stage, so the access is free for everyone. While we were testing the application through a demo account, we got solid results with a success rate of almost 70%. We had no issues - Ethereum Code’s crypto robots work flawlessly, they have started trading cryptocurrencies within a few seconds. So, in overall, Ethereum Code appears to be legit. You should deposit not more than $250 if you decide to try this bot. Robot Rating Properties Trade 1 The best choice 88% Claimed Win Rate - Appears to be legit $/£ 250 Min Deposit Accepts Debit and Credit Card Trade Now Trade at your own risk. InsideBitcoins does not accept liability for any losses. Remember that all investment opportunities carry a certain risk. This especially applies to cryptocurrencies, which are still relatively young in the financial markets. Automated Trading on Exchanges An alternative to using a bot is to use the copy trading feature on eToro - this FCA and CySec regulated cryptocurrency exchange allows you to replicate the trading decisions of a winning, profitable trader of your choice, or a combination of several. InsideBitcoins recommends diversifying your portfolio by allocating part of your funds into a long-established, safe and reputable platform such as eToro - never invest 100% of your cryptocurrency into one trading bot or hold it on one website, broker or exchange. Start with a minimum deposit on any platform you use, and make a small withdrawal as a test. Coptrading on eToro is similar to using a bot in that you can grow your investment without having to monitor it, trade yourself or make any decisions - all buy, sell, take profit and stoploss orders are automated. eToro - Automated Copytrading of Profitable Traders Our Rating 83.7% Average Annual Returns with CopyTrader™ feature Review Traders' Performance, choose from 1 - 100 to Copytrade No Management Fees Free Demo Account Social Media & Forum Community - Trusted by Millions of Users Start Copytrading 68% of retail investor accounts lose money when trading CFDs with this provider. FAQ How much can I make with Ethereum Code? Neither we nor the operators or any past Ethereum Code users can accurately predict how much profits can you make with the automated crypto trading app. The reason for that the robot performs differently on different market conditions. Why did Mark Weston decide to trade ETH with Ethereum Code? According to all the information we have read on the Ethereum Code website, the founder of the service - Mark Weston - has decided to create a bot platform for ETH as he found that Bitcoin is not that profitable than the aforementioned coin. Weston also stated that he finds Ethereum to be more innovative and that its blockchain offers more security than Bitcoin’s. Also, Weston has missed the Bitcoin ship so he decided to set up an automated trading solution for another coin, Ethereum. Can this app accurately predict the price of Ethereum? The short answer is no. Crypto robots can’t provide an accurate Ethereum price prediction. This includes ETH-specialized solutions, such as Ethereum Code. But not just the software, even expert traders and all-star investors are unable to predict ETH’s price in the short term. While an approximate Ethereum price prediction is possible in the long term by experts, it does not guarantee that the future price of the coin will go in the way the aforementioned experts think. Other trading robots you might be interested in Bitcoin Code Bitcoin Code is a very similar automated cryptocurrency trading platform to Ethereum Code. In addition to being one of our top-rated crypto robot apps, Bitcoin Code features an easy-to-use application, a fast registration process, and high-performing bots that will do all the trading for you. Don’t forget to check our Bitcoin Code review! cryptosoft CryptoSoft is another featured cryptocurrency robot platform. We have compiled a CryptoSoft review recently, which is worth checking out.