How does Bitcoin Code work?
Bitcoin Robos serve to monitor the cryptocurrency market, collect data and make decisions based on this data, as well as carry out transactions in a matter of seconds. This fast trading is not possible even for an investor who has been dealing with statistics and charts for years.
The provider works according to a Pump and dump principle: A method of bursting into buying and selling. The special feature: The robot then buys cryptos when the price falls. And Bitcoin Code sells coins when the price goes up.
However, bulk buying is prohibited in many markets. These regulations of various financial markets help to keep the system stable on the stock exchange. So using a bot regularly on a pump-and-dump basis should result in heavy penalties. However, the market for cryptocurrencies is hardly or not at all regulated, which is why there are no corresponding bans on bulk purchases for crypto robos either. Nevertheless, the Bafin is 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 offer unauthorized financial services in Germany.”
Tip: Prefer to trade cryptocurrencies yourself? In our corresponding guides we 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!