Is The Ethereum Code a scam? it the Ethereum Code reliable? Ethereum Code is a cloud-based trading robot developed by a professional trader Mac Weston. The website claims that the robot places trades after scanning the financial markets a thousand times faster than humans do and produces remarkable results. In this piece, we present the Ethereum code review in detail.
The Ethereum Code Main Features
|Withdrawal Period||24 Hours|
|Customer Service||Email / phone|
|Supported Coins||BTC, ETH, XRP & more|
Ever since cryptocurrency started becoming famous, a lot of auto-trading robots have emerged over time. Unfortunately, most of them are nothing but a scam. Ethereum code claims to be the legit one. Its concerns argue that the Ethereum Code is for both novice and skilled traders to help them trade effectively and maximize their returns more than ever.
The website claims that the Ethereum code doesn’t need much input from traders after being set for trading. The robot is self-guided in that it undergoes technical and fundamental analysis on its own and makes precise decisions after detecting the best trading opportunities and places trades with near cent percent accuracy.
It is also claimed that it has all that it takes for a good trading robot to be helpful for both novice and advanced traders. It is simple to configure and quick to set up for trading purposes.
Like many other trading robots claims that they are based on advanced algorithms, The Ethereum Code does the same. As per the official website, the trading robot analyses the prevailing trading trends carefully and places orders when the right time comes.
The robot doesn’t need to be installed on a PC, or laptop since it is a web-based trading robot. You can access it anytime anywhere using a supported device connected to the internet. It truly fascinates traders on the go.
The robot also claims that it has been tested multiple times for trading reliability. As per the website, every time it was set to trade automatically, it closed positions with profits. However, the site doesn’t provide any evidence for its claim. You are expected to accept the claim one way or another.
The Ethereum Code claims that its customer support team remains available 24/7 to have traders answer their queries on a run-time basis. However, that’s not true. You can’t contact the customer support team since no information is available to contact except the online complaint form.
Another claimed feature is the security level it offers to its customers. Traders can rest assured that their funds are safe. The platform claims that it has one of the advanced anti-virus programs installed for the security of the platform. Well, isn’t it make sense that if the robot is web-based, then it should have been protected by the latest internet security protocols instead of the anti-virus programs.
In an attempt of persuading traders to try Ethereum Code, the robot offers a free demo account where traders can practice different trading strategies without risking their real funds. However, the demo account can never replicate the live trading markets since the slippage level, followed by liquidity and volatility levels is known to be different when it comes to trading in the live market.
The website claims that there will be no tax implications on your earned profits. However, it doesn’t provide further information as to what section of the taxation act provisions such leverage? Generally, Taxes are calculated on income and not on profits. If your annual income exceeds your expenses, you may become liable for the taxes irrespective of that whether you remained a successful trader or you had a trading loss in the concerned financial year.
Ethereum Code works in collaboration with multiple brokers around the world. Traders need to sign up with the robot’s recommended crypto platforms to get started. The minimum deposit amount to begin using the Ethereum Code is $250. The robot process information based on in-depth market analysis and detects the best trading opportunity to place trade automatically.
The Ethereum Code is configurable. You may set your trading preferences, such as the number of trades per go, the amount to stake on each trade, the risk level, and trend indicators. Once, you are done setting up the robot, sit back, and watch the robot trading independently. The robot is said to have an advanced algorithmic trading strategy that can help traders make thousands of dollars every day.
Getting started with Ethereum Code is simple. All you need is to sign up with the robot’s recommended broker and deposit the minimum amount. For your convenience, let’s have a quick look at the steps involved.
Note: Limited time offer statement used just to exploit your emotions, nothing is like limited, you pay a visit to the website the very next day, and you will find the same statement.
Without being judgmental, we leave it up to you to decide whether you believe the Ethereum Code scam or not. The robot claims that It can help traders earn thousands of dollars a day, but why is it offered for free? If it can make people become millionaires overnight, Shouldn’t it cost traders at least a few thousand dollars to get started instead of asking for a minimum deposit of $250 only? Also, why the website insists you become a member to discover that people have made excessive profits? Wouldn’t it be more transparent to show who earned how much with a proven track record openly, so people get inspired and become registered traders willingly?
Yes, in addition to Ethereum, the trading robot also supports Bitcoin, Ripple, Litecoin, Dash, EOS, and IOTA. You may also trade Ethereum by making a pair of it with different fiat currencies such as ETH/USD, ETH/AUD, ETH/GBP, etc.
The cryptocurrency market is considered to be the most liquid investment market. You never know what is coming ahead, so you can’t be sure about profits. You could well be in trouble if the market moves abruptly and in the opposite direction. Many scam trading robots pass such boring statements. However, the Ethereum Code sets up the trap smartly. The website does not claim any specific amount that you can make with the trading robot. It just mentions that the profits you can earn using the Ethereum Code depend upon the level of your initial investment. Undoubtedly, the more you invest, the more benefits you expect in return. However, the Ethereum Code is known to have swallowed hundreds of thousands of dollars of traders within no time.
The robot works the same as many other scam robots. It first asks you to deposit the minimum amount required to get started without letting you choose the broker of your choice. Now, there is a reason why you are not allowed to choose your broker, and that is the agreed commission that the robot makes on every successful deposit with the robot’s recommended broker. Then when it starts placing trades, it just follows a random approach irrespective of the market conditions, and your account gets wiped off gradually.
We doubt them being real. Why do we say so? Because it happened multiple times that many scam trading robots we reviewed in the past, posted fake testimonials. We started our search by searching the image shown for the trader named “Christopher Farrell” on Google. Our doubts proved right.
The picture is randomly taken from github.com. The real name of the person appearing in the image is “David Ingledow”. He is the head of the design department on SoPost. The Ethereum Code allegedly changed the name and posted the picture with a random name and supposed comments on their website.
The same is the case with the trader named “Brandon Abbott”. His picture is also taken from github.com, and the real name of the person is Brian Talbot. We need no more evidence to consider all of the Ethereum Code testimonials nothing but fake.
There isn’t much information available about the Ethereum Code Review on Reddit. However, we could find one of two comments by the users to provide a link where the whole review is done proving the Ethereum Code is a scam trading robot. The second comment in response flagged The Ethereum Code as a scam too, and gave a thumbs down stating that “enjoy the down vote”. We tried searching for more information on Reddit, but unfortunately, nothing else about Ethereum Code was available on Reddit.
Like on Reddit, we couldn’t find much of the information about Ethereum Code Review on Quora. However, we saw that there is a mix of comments. Some people like to stick to the trading bots while most of them showed their concerns about the authenticity of the Ethereum Code being a scam. An overall impression was that people should avoid using trading bots and prefer alternative ways of trading cryptos. While reading reviews of Quora, we came to a comment posted by a professional trader who has been in the industry for more than 07 years.
As per his view, he doesn’t think any robot can ever compete for human intelligence and perform expected trading results without human intervention. Therefore, we too recommend avoiding the use of such suspicious trading robots and going for social trading instead.
It is not new for any trading robot to claim that it has been broadcast on National or International TV. Ethereum code also claims to have been aired on various TV Shows including “This Morning & Shark Tank”. However, nowhere we could find sufficient evidence to believe it to be true. Both of the TV shows are the most favorite shows with millions of viewership all across the country.
This Morning: The Morning show is broadcast in the UK during the daytime daily. It is hosted by famous TV anchors Phillip Schofield, Emanon Holmes, Ruth Langsford, and Judy Finnigan. The program talks about general news, fashion, business and finance, home improvements, health & wealth, etc. It was rumored that this morning’s show had endorsed the Ethereum Code to be the legit one. However, upon confirmation from the relevant sources, It was revealed that the news concerning endorsement by this morning’s show is baseless. This morning show never broadcasted Ethereum Code from its platform.
Shark Tank: Shark Tank is an American version of this morning’s show. It’s a reality television series that started in 2009. The program is hosted by Robert Herjavec, Kevin O’Leary, Daymond John, & Mark Cuban. The program is also said to have endorsed Ethereum Code suggesting people invest in it. However, sources have denied the news and disowned any connection with all such kinds of auto trading robots.
It was mid-2018 when social media was flooded with the news that various celebrities have nominated the Ethereum Code as one of the legit crypto trading robots. The celebrities named after the endorsement of the Ethereum Code include Piers Morgan, Elon Musk, and Holly Willoughby. It was not the first time that these celebrity stars were named for promoting a trading robot. Earlier, other scam trading robots such as Bitcoin code, Bitcoin Star, Bitcoin Trader, and Bitcoin Era had also claimed that they were endorsed by Piers Morgan and other celebrities mentioned above.
Let’s have a quick go through what these celebrities had to say when asked about the reality of this news.
Piers Morgan: Piers Morgan is the host of the famous TV show “Good Morning”. He is a well-known public figure. People love to listen to him due to his mesmerizing personality. When was he asked whether he has endorsed Ethereum Code and suggested people invest in it? He denied it straightforwardly. According to him, he has been sick of all such fake factors who falsely use his name to promote their scam trading robots. He once tweeted that he wouldn’t be investing in Bitcoin and other cryptos until he understood how that works. Therefore, the news that he endorsed the Ethereum Code is not real.
Elon Musk: Elon Musk is a famous TV star and is a very renowned name when news something like an endorsement of cryptos or trading bots gets released. He has been named multiple times for the false propaganda of promoting fake trading robots. He has repeatedly denied his affiliation with any trading robot including the Ethereum Code.
Holly Marie Willoughby: Marie is a famous anchor, model, and TV presenter. She currently co-hosts the famous TV show “This Morning”. Her name was also rumoured for promoting Ethereum Code and other crypto trading robots alike. She was quite unhappy with the way her name was used for helping scam trading robots without her consent. She once said that she is considering some legal action against the responsible.
After an in-depth Ethereum Code review, we concluded that Ethereum Code doesn’t appear to be the legit one. Starting from the fake testimonials to the celebrities’ endorsement claims and from the false promise of making thousands of dollars a day to the lousy customer support, we took every bit of the Ethereum Code seriously and remained unbiased. However, all of the things we reviewed pointed towards a negative opinion about the Ethereum code.
We, therefore, leave it to people to decide whether they wish to open an account with the Ethereum Code or not. However, we would like to drive the attention of traders towards one of the most legitimate trading platforms we once came across “The Etoro”. It is a multi-regulated broker and a crypto exchange with its head office based in Cyprus. The broker offers multiple crypto assets; and is also one of the best crypto CFD brokers around. It provides generous leverages, a state-of-the-art trading platform along with the facility of social trading where traders with the least trading skills can trade proficiently by copying trades of other successful traders; and a built-in wallet – the eToro Wallet. The exchange supports multiple deposit and withdrawal methods. We hold the opinion that instead of investing your hard-earned money in some scam trading robot, you must try the eToro social trading platform. We believe you won’t regret investing in it.
No, it is not. The trading robot uses fake endorsements posted on its official website. It makes false claims of being broadcasted on the TV. It also has lousy customer support and is confirmed as a scam by various online resources.
No, neither the ethereum code nor does any crypto trading robots are regulated.
The minimum amount to get started with the ethereum code is $250.
Yes, it does. Traders can open a demo account with the ethereum code and practice multiple trading strategies using the funds available virtually. It is a good idea to practice well before risking your real money.
No, it does not. You have to choose from the list of available brokers.
Setting up an account with the ethereum code is simple. It doesn’t take more than 2-3 minutes.
Yes, like most of the crypto trading robot, ethereum code also allows traders to trade manually.
No, it is not. Even the official website of ethereum code has a disclaimer saying that it is not legal to use ethereum code.