Ethereum Code Review: Scam or Legit? ByPatrick WebberPRO INVESTOR Updated: 13 December 2022 Ethereum Code is a trading platform specializing in speculating on Ethereum to allegedly generate users’ profits. Reportedly, there’s some controversy around this crypto robot. One of the reasons for that is, apparently, the little information that can be found about the app. But, hey! That’s why we are here. We decided to go through different reviews, search deeper into the Ethereum Code, and share our findings with you. Visit Ethereum Code Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection. On this Page:Contents [show] Is Ethereum Code legit? Our Findings! Some online reviews claim that this trading robot is legit. According to reviews, this platform offers incredible service and provides lots of helpful information. The operators of the Ethereum Code are said to not require any payment information from users. Instead, they are supposedly using a broker to handle the payments. Therefore, users do not have to provide their credit card or PayPal details when using the service. If you are a beginner trader, we recommend you 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. If you are new to Ethereum Code, do not deposit more than $250 as your initial investment. This way, you can minimize losses if the bots make unprofitable trades. Learn more about trading robots by reading our bitcoin robot guide. What is Ethereum Code? Ethereum Code appears to be 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 website is said to use its bots to take advantage of that and generate profits automatically. Source – Ethereum Code website It means that after you do an Ethereum Code sign-up, you don’t have to deploy your technical analysis, indicators, and strategies. The application is said to work like most crypto robot solutions: you don’t need to do anything besides monitor the bot’s performance 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. Mark Weston allegedly founded Ethereum Code. According to Weston, the idea of the Ethereum Code came from when he worked in a 9-5 office job at a multinational software corporation. He was said to be intrigued by one of his colleagues, an early Bitcoin investor who made thousands of dollars with his investment. Missing the “Bitcoin boat,” Weston decided to get into automated cryptocurrency trading. He created his own Ethereum Code application as he did not succeed with other platforms. When you enter deeper into the Ethereum Code website, you discover their invitation to join the Ethereum Code, trading family. They are promoting the advantage of trading Bitcoin and spreading news related to this kind of coin. We can’t say that this trading bot is the one you should go with because we didn’t test it. We scrolled through different websites looking for answers from users and are transferring you all the information we came up with. It’s up to you to decide if you should trust your money to Ethereum Code. 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 apparently no downloads required to use the application. Furthermore, the team claims their platform is “lightning fast” due to the state-of-the-art algorithms they use to scan the markets numerous times every minute to find opportunities for cryptocurrency trading. Source – Ethereum Code website The operators of the Ethereum Code also claimed on the website that the profits users make via the crypto robots are 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 consult with an accountant. The Ethereum Code team claims that users can make over $3,000 in profits by using this app. Hence – 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 is that every trader is different, and the market changes minute by minute. While making $3,000 in a day in a bull market is possible, it does not mean you will get the same profits the other day when the cryptocurrency market crashes or with this particular app. Since we haven’t tested the app, we can’t claim that you will get rich quickly. Trading crypto is not easy. Unexpected things can happen. One day you might love everything; the other, you may get a bag full of money. Just kidding. The fact is that investing in crypto is risky. You need to act smart and be patient. Nothing comes overnight. You will find some claims that traders have allegedly made serious profits by only trading cryptocurrencies daily. But it won’t mean that’s true. Besides Ethereum code, you can read about BitAlpha AI, allegedly a popular trading bot tool for crypto investors. Who founded Ethereum Code? Ethereum Code is said to be founded by a self-proclaimed accountant named 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 trying multiple automated digital currency trading platforms, he realized that some wanted him to lose money (he may have referred to scammers). According to some websites, after everything that’s happened, Weston 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. Source – Ethereum Code website According to the Ethereum Code software operators, the app is working on the cloud. They say you needn’t download anything to turn on the platform’s robot. You appear to 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. They say you only have to carefully monitor their performance (which is crucial if you use the live trading platform). We can’t confirm that because we haven’t tested the platform. What’s great about Ethereum Code, according to some online reviews, is that it does not need you to develop your strategies and settings to start the bots. Other automated cryptocurrency trading services may require setting one or both of the aforementioned options, which can sometimes become time-consuming. Users assure that when you use the Ethereum Code app, you only need to click the live button. It appears that the platform operators have already set up their settings for every user, which have worked for them in the past (and hopefully will work in the future too). Ethereum Code is not the only platform you should think about. Visit our bitcoin robot page to see all your options. How to Place Trades on Ethereum Code? If you are interested in trading crypto on the Ethereum Code platform, you can follow the next few steps. STEP ONE: Visit the website Ethereum Code website sign-up form To trade on the Ethereum Code platform, you need to visit the official Ethereum Code website and register. To do that, you need to fill up the form. Leave your name, email, and phone number, and press ‘Register Now.’ Then the Ethereum Code website will take you to the next page. Step 2: Demo trading Demo trading is a great opportunity this platform offers because it will help you familiarize yourself with the entire trading process. 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. Some users say that demo trading is easy and that helped them a lot. They say that your account will be credited with $1,500 worth of virtual funds once you start the demo. You can use that to simulate trading using real market conditions without any risks. After you finish the demo, you can start real trading with your funds. Step 3: Deposit funds The next step is to deposit funds into your Ethereum Code account. The minimum you have to deposit is $250, like with most trading robots. Remember that you deposit only the amount you are willing to lose. It doesn’t mean that this trading will bring you profit. It is risky, and you should think carefully before starting this journey. Step 4: Let the robot place trades on your behalf According to the website, you can start using the live trading platform of the crypto robot app as soon as your funds are credited to 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 carefully monitor the app’s performance as you are now trading with real money (unlike at the demo platform). We haven’t tested the app, so if you decide to start, good luck trading! Is This Crypto Trading Software Special? Now that you know almost everything about the Ethereum Code app, let us mention some of its features that users point out as highlights of this app. They say it’s easy to use it. We are not sure about it because we didn’t try it. Users claim that customer support is on a high level and is very helpful. They assert to future users that this platform has provided various options to ensure they get the best possible trading results. We can’t assure such a claim. There are many positive online reviews. But, still, it doesn’t mean these reviews are accurate and true. You need to search for extra reviews before investing in this platform. You don’t want to end up without money in your pocket, do you? Hence, investigate more and insecure yourself and your funds. You should take the necessary precautionary measures when using this or any other trading robot. The Verdict: Is Ethereum Code Legit? InsideBitcoins didn’t test the app, so we can’t say with certainty that this app is legit, nor that it is not. We went through different websites and forums to get more answers so we could present them to you. If you think this review is good enough for you to start crypto trading, you can visit the Ethereum Code website and get to work. Don’t forget to be cautious and start with a minimum of $250. Don’t invest if you are not ready to lose. Because trading crypto is not simple, and the market is volatile. It is constantly changing, and you never know when you will get or lose everything you invest. Be wise. If you are stressed over not being sure whether you should go with Ethereum Code, you can pick eToro as it’s the regulated broker. Read our eToro review if you are willing to learn more. Visit Ethereum Code Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection. 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 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 to 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 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 stop-loss 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. According to some websites, Weston also stated that he finds Ethereum 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. But not just the software; even expert traders and all-star investors cannot 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 said to be 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! BitSoft360 BitSoft360 is another featured cryptocurrency robot platform. We have compiled a BitSoft360 review recently, which is worth checking out.