Wednesday, January 26

Bitcoin Code experiences: the crypto robot put to the test

How does Bitcoin Code work?

Bitcoin Robos are used to monitor the cryptocurrency market, to collect data and to make decisions based on this data and to carry out transactions in seconds. Even an investor who has been dealing with statistics and charts for years cannot do this kind of quick trading.

The provider works according to one Pump-and-Dump-Prinzip: A method of push buying in buying and selling. The special thing about it: The Robo then buys cryptos when the price falls. And Bitcoin Code sells coins when the price goes up.

However, push buying is prohibited in many markets. These regulations of various financial markets help to keep the system on the stock exchange stable. Using a bot on a regular basis according to the pump-and-dump principle should therefore lead to high penalties. However, the market for crypto currencies is hardly or not at all regulated, which is why there are no corresponding bans on push purchases for crypto robos. The Bafin is still investigating. From the point of view of the Federal Financial Supervisory Authority, the content of the Bitcoin Code landing page justifies the assumption “that those responsible are offering unauthorized financial services in Germany.”

Tip: Would you prefer to trade cryptocurrencies yourself? In our corresponding guides, we will show you how this works and how you can participate in the development. In our crypto lexicon you can familiarize yourself with all the important terms on the subject!

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