Ethereum Code, scam or legit business?

This is the new millennium gold rush.

Cryptocurrencies are born and die at the same speed of mushrooms after the rain.

In this jungle of platforms and new technologies one comes with the ultimate solution to wealth, a new hope for everybody appears…

Is Ethereum Code ‘too good to be true’?

I went through their service so that you don’t have to.

Warning

This is no financial advise, all the content and the ideas present in this page and all the other pages of the website do not guarantee financial success and may lead to a loss of your money. You should always do your own due diligence before trading or seek professional advise.
If you want to learn how to trade risk free, you want to learn paper trading first. Check this tutorial out, I will take you through all the necessary steps to set up your free account on TradingView and place your ‘monopoly money’ traders in the real market.

Some of the links available in this page may generate a commission for the author.

Things to consider before using Ethereum Code

If you are a trader you know the hassle that we go through when hunting for a profitable order to place.

This may be one of the reasons why you are looking to using a trading bot.

There could be other reasons why you are into this topic. One is the passive income that it can generate and another one is the benefit compared to manual trading:

  • A computer would never be biased by the emotions of the opportunity in front of it. 
  • A computer would never enter a position without being objective.

The real advantage of trading bots is that they always stick to the rules, no matter what.

We know for a fact that sticking to the rules is essential for a successful trading business.

As part of running a business it is essential that you know what you are doing, so it is always recommended learning technical analysis before using bots otherwise you would likely lose your money.

It hasn’t been easy for me to create this content because Ethereum Code wasn’t as clear as other competitors are.

Even if you are chasing a passive income stream it doesn’t mean that Ethereum Code is for you.

We must always consider the risks involved with giving your money to someone else. In this case would be putting your money on something that we have no real control of.

When evaluating what to do there is ONE THING that I consider:

Who is behind this and would I trust them?

Let’s not forget that you are trusting somebody with your money.

Skimmer Box

Things to consider before using Ethereum Code

  • Before you use a bot you should know technical analysis or else you would likely lose money.
  • Bots are emotionless, which is good for a trading business.
  • Before giving your money to somebody, do your own research, be skeptical.

How Ethereum Code works

I write this assuming that this system actually works as in the demo as I did not finish testing it due to lack of trust.

Ethereum Code is a cryptocurrency trading bot with a secret algorithm, very simple to be set up. 

It appears to be trading intra-minute generating a huge volume of trading.

Due to its simplicity, this bot seems ideal for beginners.

If you are looking for something that you can tweak, this is not for you.

Cryptohopper would be a better choice in case you want to create your own strategies.

All you need to do is register for free, set up the system, add money to the portfolio and wait for the profits. If it works like in the test platform it would make you billionaire within one year.

Ethereum Code Pros

  • Cloud based platform (meaning you don’t need to leave your computer on for placing and closing orders).
  • Free registration.
  • Extremely simple configuration.

Ethereum Code Cons

  • There is only one broker.
  • The whole website is designed to put pressure on the potential buyers.
  • I was not able to find any information about the owner and the broker associated.

Skimmer Box

How Ethereum Code works

Please, be aware that I haven’t finished testing this system due to lack of trust!

  • Ethereum Code is extremely simple to set up.
  • It seems to trade intra-minute in high volume.
  • There is only one broker (more on this later).
  • The website is designed to inject fear of missing out so that visitors would buy straight away.

Ethereum Code features and controversy

My intention is to test trading bots so that I can provide you with the best possible content. If it is legit, Ethereum Code comes with a variety of benefits such as:

Autopilot trading

Like with every bot, you would not need to spend time at the computer trading. This means that this tool has the potential to generate real passive income.

Cloud technology

Some bots need your computer to be on and using the bot (the software) to place and close orders. For example  TradingView’s scripts provides automation, as long as you use the charts. Ethereum Code would trade even if your device is off. This is also very positive.

Simplicity of use

There are very few options to set it up. It is so simple that it looks too good to be true. When something is too good to be true, you know that it probably is too good to be true.

Free access

It doesn’t require any payment, once again, too good to be true. Usually, cloud based platforms are not free because there are costs to maintain them.

Is Ethereum Code a legitimate business?

Here is my personal experience with Ethereum Code. The Ethereum Code’s website has an introductory video that lasts about 11 minutes. The speaker sounds like a native English Speaker’s professional voice artist. Needless to say that the whole video is designed to convert you from a visitor into a registered user. A certain Mark Weston seems to be the owner of the website, but I am unable to find reference about him. Usually people like him have a LinkedIn Profile or a certain presence in social networks. This Mark Weston seems like a ghost. In their ‘About’ section, it appears that the name is spelled as ‘Marc’. About section of Ethereum Code. Searching for both, I was unable to match the photo with the name and the name with the professional position. The photo that you can see in the video (screenshot below) seems to belong to Florian Steiner as well. Florian Steiner seems to be in trading signals. These two individuals must be twins with a taste for the same clothing and style. Marc Weston's alleged photo. So far I am not feeling to propose this service to you, but I did more. On a side note, I am not even sure that Florian Steiner is a real person either. I did not investigate further, this stank enough.

The Ethereum Code registration process

When I registered on their website I have immediately received a phone call. Because I did not know the number and I was busy I did not answer and sent the call to my answering machine. Few minutes later, I received a WhatsApp message explaining the phone call. It was because of my registration to Ethereum Code. We agreed to speak over the phone the day after at 10.30. The phone call arrived at 9.00, which I found annoying as I am a busy person. The operator tried to put pressure on me, by injecting fear of missing out. She defined me as a professional trader, probably to make me feel important… Entrepreneurs (as well as traders) control the fear of missing out… I am confident that she knew that a professional trader would not use such a service. After the phone call I asked to forget me as per GDPR, they told me that I needed to verify my account first. They sent the verification email via a Gmail account. Email from Luxis Trade (associated to Ethereum Code). The most important thing about this, is that I wasn’t called by Ethereum Code. The caller was Luxis Trade, which is the broker associated with Ethereum Code. This company doesn’t appear when searching on Google, it seems to be a limited company, but I have never heard of them. Luxis Trader’s homepage only has a login form. No information whatsoever on the company. They don’t say where they are, their policies, terms and conditions… absolutely nothing! Furthermore, they would not proceed with GDPR forget procedure unless you pay them: Luxis Trade wants to keep your data. Another important thing that is worth mentioning is the Ethereum Code’s live chat. It doesn’t matter the time, they seem to have one agent only (the same). Interestingly, it is always the same agent, at any time, and she never connects with you. Check the screenshot of the chat. Ethereum Code chat.

The private area of Ethereum Code

The internal area is very minimalistic and keeps showing users who are getting rich via pop ups in the top right corner of the screen. There is only one broker allowed, this puzzling Luxis Trader. The bot’s settings are very few, it only determines the minimum position, the maximum daily loss, and the maximum daily trades. This means that the algorithm behind this project is private, and this would not be a bad thing (but I am not recommending you to use it!). All I wanted to see was the demo, so I switched to the demo. The system seems to be doing intra-minute trading by selling or buying Bitcoin in Euros or Dollars. In a span of few minutes I already had 40% profit. Let’s not forget that we are talking about a platform that has no clear information about who’s behind the scene and that is asking you to deposit your money into their accounts… Because I had never seen something so powerful I wanted to have another phone call with these people and so did I. The operator was constantly trying to push me to put money into the account and never actually answered my only question: “Is the demo on a real live market or it is just a simulation?” You decide what to think… There are more conflicts though:
  • Ethereum Code’s website states that the system is entirely cloud based.
  • Luxis Trade states that they are based on Atlas and I must install a software on my computer to make it work.
These two statements are not compatible… But there is more:
  • Ethereum Code’s website states that the trades are fully automated through their proprietary algorithm.
  • Luxis Trade states that you need to configure your own trading rules.

Skimmer Box

Ethereum Code features and controversy

If Ethereum Code is keeping the promise, here are a few benefits:

  • Autopilot trading.
  • Cloud technology
  • Simplicity of use
  • Free access

Is Ethereum Code really what it looks like?

  • Their presentation video concerned me as it was too pushy and too good to be true.
  • The name of the CEO is not clear, they spell it in different ways.
  • The photo of the CEO belongs to more than one individual online.
  • The CEO doesn’t have an online presence (weird for this era).
  • As soon as you register you will start receiving unsolicited phone calls.
  • Their confirmation email arrives from a gmail account claiming to be a broker.
  • If you ask to have your data deleted, they will ask you for money.
  • The live chat doesn’t seem real.
  • The demo in the private area shows insane wins and zero losses (I suspect it is not paper trading in the real exchange).
  • The free registration seems to only be used to put pressure and then to convince you to pay the 250 dollars that they are asking for (even to delete your data).

What I have found online about Ethereum Code

The most interesting part of my research was exactly the online controversy.

Every online reviewer nowadays should be taken with a pinch of salt. 

It is very easy to make a website or a youtube channel (or else) and publish multiple nests of misleading information.

In this case I advise avoiding online reviews or youtube channels talking about it.

I would rather invite you to check for these small clues, be skeptical and don’t feel like you are missing out.

Their broker doesn’t exist online, this makes me think that it is not a licensed broker and remember that the easy money online dream has never existed…

Skimmer Box

What I have found online about Ethereum Code

  • The temptation to give it a try could be great, above all when an online research online is made and there is so much conflicting information.
  • Always take online reviews with a pinch of salt and make your own investigations, be smart!
  • It’s very easy to create multiple webs of false information through social media nowadays.
  • The Ethereum Code’s broker doesn’t seem to exist, this should already be a lot!
  • Easy money doesn’t exist!

Alternatives to Ethereum Code

I will write a single specific review for each of the following trading bots. By now I would like to present them as a more reliable alternative to Ethereum Code.

Gunbot

Gunbot Introductory image on original website.
Gunbot is a flexible kit that you can use via graphic interface or scripting language. The difference between Gunbot and Ethereum Code is the freedom to choose strategy. It works on every operating system (Mac OS, Windows, and Linux) as well as on Virtual Private Servers. If used on a virtual private server, it would not require your computer to be turned on. Gunbot integrates with nearly all the crypto exchanges, just to mention some: Binance, CEX, and Kucoin. The three above are just a fraction of the exchanges available through Gunbot. There are some preset strategies to use straight away. Some strategies are specifically conceived for margin trading. Allows trailing orders. Integrates with TradingView

Gunbot Pros

  • A complete and customizable tool for automated trading.
  • Works on a VPS (Virtual Private Server).
  • Integrates with nearly every exchange.

Gunbot Cons

  • It can only be paid in Bitcoin.
  • To cover the monthly expenses it is required a certain capital invested.

Skimmer Box

Gunbot

  • Gunbot is a reputable and established bot that we know to be delivering what they advertise.
  • Completely customizable, probably the most versatile of the three bots presented in this article.
  • Integrates with nearly every exchange.
  • Can only be paid in Bitcoin.
  • A certain capital is required to cover the monthly costs.

Cryptohopper

Cryptohopper introductory image on the official website.
Like Gunbot, Cryptohopper is probably the most known crypto bot. It comes with several settings like Gunbot, but doesn’t offer scripting languages to run it. Cryptohopper only has the visual interface to set up. The main difference with Ethereum Code consists in being able to choose strategies. Cryptohopper is compatible with less exchanges, yet, it includes the most popular like: Binance, Poloniex, and Kucoin. Along with the strategies based on technical analysis, Cryptohopper offers a marketplace. The marketplace allows to buy signals, strategies, and other third party extensions.

Cryptohopper Pros

  • Can be paid in US Dollars.
  • Offers a third party marketplace.
  • Integrates with the most popular exchanges.

Cryptohopper Cons

  • The marketplace may lead to ‘shiny object syndrome’.
  • To cover the monthly expenses it is necessary to have a certain capital invested.

Skimmer Box

Cryptohopper

  • Cryptohopper is another reputable and well known bot.
  • It can be used in the most popular exchanges, including BinancePoloniex, and Kucoin.
  • Cryptohopper offer third party services through their marketplace.
  • The marketplace may lead to ‘shiny object syndrome’.
  • To cover the monthly expenses you need to have a decent capital invested.

TradingBot Solutions

tradingbot solutions introductory image from official website.

TradingBot Solutions because they grant you with free access on paper trading.

This means that you can test your strategy for as long as you wish and once it works well you can finally decide to buy a subscription.

If it works as advertised, this is a free trial until you can confirm that the product works, hence pay only for success.

Like the previous two you can have a cloud based trading bot that won’t require you to be at your computer or having it on.

The main difference with Ethereum Code is that you can confirm that the test is actually a real test on a real exchange.

The only negative aspect of this bot is on the limited presence on the exchanges.

Binance is available and you can generate true passive income on Binance by lending, so not a bad news.

Binance also allows purchasing through your FIAT, which is another plus.

TradingBot Solutions Pros

  • Free as long as on paper trading.
  • Well documented Crypto Trading Academy.
  • Weekly webinars

TradingBot Solutions Cons

  • The monthly subscription is more expensive than the previous two.
  • You need to have more capital invested to cover the expenses.
  • Its presence on exchanges is not vast as the previous two.

Skimmer Box

TradingBot Solutions

  • TradingBot Solutions is the only bot that appears to have a free paper trading trial.
  • It is available on Binance.
  • It provides with cloud technology.
  • Not available on many exchanges like Gunbot or Cryptohopper.
  • It is the most expensive.

Conclusion

Ethereum Code should be the ultimate passive income generator. It makes everyone rich in no time thanks to an algorithm conceived by an individual who doesn’t exist. I can find more whiteness for the existence of Nessie or the Sasquatch than for Marc (or Mark) Weston or Florian Steiner as they share the same photo.

Is Ethereum Code a scam?

I cannot confirm it is a scam. I have not tried to deposit money to their portfolio and I have no intention to try. Neither websites (remember, it was two websites) have enough credibility for my standards:
  1. CEO of the company seems to be a stock photo.
  2. CEO name is spelled in different ways along the website.
  3. Broker associated to the bot doesn’t exist on google.
  4. Broker sends verification emails from a gmail account.
If you ever want to give away money blindly, I advise to rather donating to people in need. I  doubt that what you see in their test platform is a real trading bot. Ethereum Code looks like a machine conceived to put pressure on people so that they buy the dream. I am afraid it would be another delusion. I advise either Gunbot, Cryptohopper or TradingBot Solutions and keep away from Ethereum Code.
Alex Promising Trader

Share this content

Share on linkedin
Share on facebook
Share on twitter
Share on telegram
Share on pinterest
Share on email

Leave a Comment

Your email address will not be published. Required fields are marked *