Biticodes Review 2023: An App to Keep Scams at Bay

Biticodes promises to unlock the potential of the crypto market in a safe, reliable manner. The platform helps traders gain access to trustworthy brokers, premium trading software, auto-trading tools, and more. Overall, Biticodes is quite an impressive platform. We’ll cover its services in detail further on in this Biticodes review, but if you’re eager to try it for yourself, simply follow these steps:

Step 1. Register a Biticodes Account.

Simply fill in the registration form on the Biticodes’ website.

Step 2. Finalise Your Registration.

A free personal account manager from one of Biticodes’ partners will contact you to confirm your account.

Step 3. Make a Deposit.

Gain access to all of your broker’s services by adding at least $250 to your account balance. You can use these funds as you see fit.

Step 4. Begin Your Trading Journey!

Nothing can stop you now — you can start trading Bitcoin, Ethereum, other tokens, or play around with stocks, CFDs, Forex, and more.

Bitcoin is my safe word

— Elon Musk (@elonmusk) December 20, 2020

Why Trust Us?

All of our reviews are completely objective and based on our own experience with the companies we write about. We are not compensated by any of these brokers.

To craft these reviews, we always take the time and care to test the platform ourselves. We approach this process from the perspective of complete trading novices as well as pros to identify particular areas of interest for all.

Who Is This Review for?

If you are looking for a broker, we believe that you:

• Might be a complete beginner with no background knowledge of trading or the cryptocurrency market specifically;
• Might have trading experience with other brokers that did not meet your expectations for one reason or another, and are now on the hunt for a better platform.

In either case, this Biticodes review will be helpful to you. We will introduce you to the company, some of its main features, and any fine print we believe customers should know about before choosing this platform.

Biticodes 101: Brief Overview

Biticodes proposes to keep traders out of trouble by helping them find trustworthy brokers and keep scams at bay. It aims to foster a safe trading environment where everyone can experience the benefits of the crypto market without worrying about untrustworthy companies. The platform hopes to save customers time, effort, and money, so they can focus on what’s important: trading.

What Is Biticodes Exactly?

Biticodes is an intermediary between cryptocurrency brokers and traders.

You can think of Biticodes as something akin to a matching service. By registering an account, the platform uses the client’s information to pair them with a regulated broker active in their country.

From that point on, it’s up to the user to decide whether to trade with their assigned broker, and Biticodes steps away from the picture.

The main advantage of Biticodes is that the company has evaluated the brokers it works with in advance. Thus, any brokerage it recommends is regulated, trustworthy, and of high repute in the trading community. This way, customers don’t need to waste time researching each broker individually, trusting Biticodes’ expertise instead.

How Does Biticodes Work?

The process is quite simple and consists of the following stages:

• Registration

The customer can apply for an account by using the registration form on the Biticodes official website.

• Matching

The Biticodes algorithm automatically finds the best broker within the company’s database to meet the needs of the customer. Then, it sends the user’s contact details to that broker.

• Validation

A broker representative contacts the client to confirm their registration. Then, the user will also receive an email with further instructions on how to set up their trading account.

• Deposit

The customer needs to add money to their account to start trading. This will activate their trading account.

• Trading

The client now has full access to all of their broker’s services and can begin trading any asset they like.

Step-by-Step Guide to Trading with Biticodes

Do you feel ready to give Biticodes a go? Here is a simple step-by-step guide on how to start trading with Biticodes.

1. Go to the Biticodes Website.

On your computer or mobile device, go to the Biticodes website.

2. Fill in the Registration Form.

Enter your personal information in the registration form. Make sure you read the disclaimer first.

3. Wait for a Broker to Contact You.

Biticodes will automatically pair you with a broker, who will contact you via phone or email. Make sure you’re available because the broker will have valuable information for you and explain how to get started.

4. Head to Your Broker’s Website or App.

You will receive an email with instructions. From this point on, you only need to use your assigned broker’s site or app, as Biticodes’ job is done. All trading and other financial services you may use come from the broker, not Biticodes.

5. Add Funds.

Log into your account on your broker’s site or app, then find the Deposit option. You have to add at least $250 to your balance as a minimum deposit. These funds will be used to pay for the trade orders you place.

6. Start Trading.

That’s it! All that’s left now is for you to choose the asset you wish to trade and place as many orders as you’d like. The world’s your oyster!

The Whole Picture: Biticodes Key Features in Detail

As we’ve already learned, Biticodes offers a safe way for traders to begin their careers with trustworthy crypto brokers. But is it any good at it? How does it compare to other broker hubs? Is Biticodes as reliable as it claims?

In this section, we’ll go over your most pressing concerns in greater detail. Without further ado, let’s see what Biticodes is really made of.

Is Biticodes Safe?

Safety is naturally the topmost concern of any prudent trader. Unless you go about with rose-colored glasses on, you would know by now that the crypto space is ridden with scams. You should learn how to spot and steer clear of them before you get in trouble.

Some of the red flags for scams include bold promises of instant success, making you a millionaire in ridiculously short timeframes, 100% fully-automated trading tools, or asking you to pay for access to a service in advance. So, do any of these things apply to Biticodes?

Thankfully, they do not. Biticodes is upfront about all the risks involved in trading and has included several reminders across its website to ensure its customers know about the dangers of financial investments in advance. Moreover, the company doesn’t promise instant success or anything of the sort.

In addition, there is no fee for Biticodes’ mediation service. Yes, its brokers have set deposit requirements, but that comes after using Biticodes and cannot be considered a fee (more on that later).

Plus, as a simple marketing tool that does not ask for or handle any payments, Biticodes is actually quite safe. It doesn’t collect any sensitive information about its customers and is not a financial service provider at all.

As far as our experience with the platform goes, we found that it fulfilled what it promised. Moreover, there were no charges or hidden fees on our account. Thus, we can safely conclude that Biticodes is not a scam.

How Beginner-friendly Is It?

While crypto trading is a fascinating hobby, there is a steep learning curve. People typically need to master many new concepts and strategies before they’re able to do it well. However, Biticodes has done a remarkable job at flattening the slope as much as possible, making it easier for newbies to get settled.

Demo Trading

Mastering each broker’s trading software is the first big hurdle for novices. Thankfully, Biticodes’ partners offer demo accounts for practice. In demo trading mode, the user gains access to a virtual server on the platform which doesn’t use real money.

In other words, you can trade whatever you want, as much as you want without any risk. It’s arguably the best way to gain experience and become accustomed to the platform.

Even advanced traders might try demo trading from time to time. When switching things up, it’s always a great idea to test your new strategy on the demo server first to mitigate risk.

Simple Design

Tired of scrolling through endless pages of filler content and ads before you can get to the feature you need? Well, the Biticodes website serves one purpose only: creating an account, which the app then uses to match you with one of its brokers.

Luckily, the registration form is located centre-stage on the homepage. There is some useful info about crypto trading and how Biticodes works on the website, if you’re curious. But the only thing you need is what you see first anyway.

Plus, we appreciate the minimal design that’s easy on the eyes — and ensures the page loads quickly on any device. It’s a layout that even the least tech-savvy user will figure out in no time.

Customer Support

Here’s a quandary: Biticodes promises reliable 24/7 customer support, but it doesn’t come from the platform itself. Instead, all client concerns are handled by the broker Biticodes matches you with.

Essentially, you need to complete the registration form and be contacted by a broker to get access to said support. Nevertheless, because this process is automated, we found that a broker representative got in touch with us within just a few minutes.

From that point on, we had no trouble communicating with the brokerage and using its customer support. Moreover, the staff was friendly and answered all the hypothetical questions we ‘attacked’ them with during our test.

What’s the Trading Software Like?

Ask any successful trader and they will tell you speed and accuracy are crucial when placing orders. In addition, stop-loss and take-profit orders serve as a safety net in case the markets don’t behave the way you had hoped.

With that in mind, how reliable is Biticodes’ trading system? The truth is, it depends. Biticodes doesn’t offer a proprietary trading platform. Instead, all software comes from the broker you get paired with.

Due to the large number of brokers Biticodes works with and the geo-restrictions that apply, we were not able to test every single brokerage and its software. However, from what we saw, you can expect to be matched with a company that uses MetaTrader 5 or a similar programme.

The features of these platforms are summarised in this table:

Supported instruments:	Cryptocurrencies, Forex pairs, CFDs, and more
Is there a demo trading server?	Yes
Are automated trading bots allowed?	Yes
Order types supported:	Instant execution, limit, stop-loss, take-profit, etc.

What Instruments Can You Trade?

Biticodes advertises its services with a heavy focus on cryptocurrency trading. Indeed, its broker partners include not only Bitcoin, Ethereum, BNB, and Ripple to their listings, but also hundreds of other coins with smaller market caps.

What’s more, these brokerages support more than just cryptocurrency. You can spruce up your portfolio by investing in:

• Stocks and stock indices;
• Forex;
• CFDs and futures on commodities like gold, silver, crude oil, and more.

Why should you care about this? Yes, cryptocurrency, thanks to its high volatility, has an unmatched potential for price growth.

However, including other assets is an efficient way to protect yourself from risks. If the crypto market crashes — which happens more often than some companies want to admit — you can still derive a profit from other, unaffected assets.

This process is known as diversification and is one of the best ways to manage risk. It’s great news that you can diversify from just one Biticodes account.

How Much Does Biticodes Cost to Use?

If you already thought Biticodes sounds amazing, wait till you hear this: it’s a free service. We kid you not — the registration and broker-matching process don’t cost anything. Biticodes is so confident that customers would enjoy its services that it has made them accessible to everyone.

‘That doesn’t seem right,’ you might object. ‘How does Biticodes make money?’

Valid questions, dear reader. Based on what Biticodes states on its website, its partners compensate it for successful referrals. So rather than the trader, it’s the brokers that keep Biticodes in business.

Nevertheless, all money talk would be incomplete if we didn’t warn you about the minimum deposit requirement. Biticodes’ partners ask clients to deposit at least $250 to activate their trading accounts.

Is that the lowest deposit in the industry? No, we have seen lower requirements here and there. But considering this is not a fee — it’s just the balance you can use to trade — we don’t think it’s a dealbreaker.

If you don’t have a steady income and you think $250 is too much for a deposit, you might want to steer clear of trading altogether. Even with the best strategy, there is always a possibility for a loss. Try not to invest more than you can afford to lose in case the tide turns against you.

What Advanced Features Does Biticodes Offer?

We already showed that Biticodes’ services are perfectly suitable for beginners. But what about the pros?

You’ll be happy to learn that Biticodes’ brokers offer some advanced features to please professional traders.

Auto-trading Platforms

Users can count on the help of crypto trading bots, courtesy of Biticodes’ broker partners. Note that Biticodes itself doesn’t make any trading robots.

We also cannot provide you with a list of all the automated trading tools available, as they vary by broker. But from what we’ve seen, each broker carries a decent selection, so there will likely be something to suit your needs.

High-risk warning: If you are a complete beginner, we recommend staying away from all trading robots. Though they can save time and effort by automating parts of the live trading process, they are tricky to set up. You might lose the wrong settings if you don’t know what you’re doing, suffering unnecessary losses as a result.

Copy Trading

Some (if not all) of Biticodes’ partners offer an automatic trading subscription service known as copy trading. It allows users to turn into passive investors by automatically mimicking the trading decisions of pros of their choice.

This service is useful for people who don’t have the time to learn trading. However, it takes trust to follow someone else’s tactics blindly. We consider this to be a high-risk service, which is why it might be better suited to advanced investors.

Biticodes Review: Frequently Asked Questions

Curious about something we might have missed? We have answered people’s most common questions about Biticodes in this section.

Is Biticodes Reliable?

Yes, Biticodes offers a good, easy-to-use method for finding a regulated crypto broker to trade with.

Is Biticodes Safe?

In our Biticodes review, we found that the company is completely legit. It delivers what it promises without any hidden fees or unpleasant surprises. It is not a scam.

How Profitable Is Crypto Trading?

That depends. Some people have earned thousands, even millions (in a few, rare cases) from cryptocurrency trading and investing. However, there are too many factors at play, such as timing, skill, budget, even luck. The profitability of trading is highly subjective and no one can give you a consistent estimate.

How to Join Biticodes?

As we showed above, all you need to do is fill in the registration form on the Biticodes site. Then, a broker representative will contact you to walk you through the rest of the process.

Get a Headstart: Tips for Beginners

Crypto is famous for its volatility: many coins have seen price increases of 10,000% or more at peak market times. This growth isn’t something more traditional assets can boast of. Is it surprising that so many people flock to the crypto market, then? Certainly not!

However, you shouldn’t let the prospect of success blind you to the possible pitfalls of trading. Here are some words of advice to help you avoid some common beginner mistakes.

Start Small

People usually think of the return on their investment (ROI) as a percentage. If, say, your ROI is 10%; obviously, 10% of a larger sum means a higher profit in absolute terms.

However, if you’re new, it’s not a good idea to get greedy from the start. The markets are quite precarious; you never know when the trend might turn against you.

That’s why starting with a smaller investment is better, even if it means lower earnings at first. It’s always good to imagine that your order will go wrong. It might not, but preparing for a loss will help you determine how much money you can commit to an investment. If an amount seems too dear, then you know you have to invest less than that.

Over time, you will build the confidence and skills that will allow you to up your investments. But starting small is better for navigating the volatile crypto market.

Plan Meticulously

If you think trading is all about intuition, think again. You’d need to read price charts, consult technical and fundamental analysis, and do many other things to be truly successful. You can’t go in blindly.

Instead, you need a plan if you want to be profitable. Research different assets and strategies compatible with them. Practice on a demo account. Set S/L and T/P orders to close your orders automatically if the asset reaches dangerous price levels. Planning is the key to success.

And don’t worry if this all seems too overwhelming. Trading isn’t easy, but with time and practice, you will get better at it.

Diversify

Elon Musk is notorious for his love of Dogecoin. But do you really think that’s the only financial asset he’s invested in? Absolutely not.

We’ve already established that the markets are fickle and risky. You can’t have too much riding on just one asset, even if it’s your favourite. Having a preference is okay, but you shouldn’t let that lock you out of other opportunities.

Spreading your money over different assets, especially combining different classes (say, oil CFDs and Ethereum) can be immensely helpful in lowering the risks. Consider diversification when planning your trading strategy — it could pay off in the long term.

Biticodes Review Conclusion

Biticodes is a highly versatile platform that delivers on many levels. It can introduce novice traders to the crypto market in a safe way while also offering some features to appeal to more advanced investors. Biticodes’ greatest advantage is that it saves both time and money searching for a trustworthy broker. It also gives customers access to more than just cryptocurrencies, which is an added bonus.