Create an account with Bitcode Al

You can create an account by following the registration process and entering your username, email address and password. It is also necessary to enter your time zone and a unique captcha text.

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Make a deposit

Once this is done, you can start depositing money into your account by first finding the „Deposit“ button in the upper right corner.

Clicking this button will take you to the deposit page, and here you can choose Us Dollar, Tether, or from a list of cryptocurrencies to deposit.

From my Bitcode Al experience, this is a platform that offers real many payment methods. You can deposit with traditional funds or use cryptocurrencies. Here is an overview of the main methods:

  • Credit cards
  • Bank transfer in various currencies
  • Tether
  • Bitcoin
  • Litecoin
  • Ethereum
  • Iota

How secure is the Bitcode Al crypto exchange?

As one of the older exchanges in operation today, Bitcode Al has experienced a number of hacks, with the first major hack occurring in May 2015.

On that occasion, a hacker managed to recover 1500 bitcoin from a hot wallet controlled by the exchange, and the lost funds were quickly refunded by the exchange. However, a later attack proved to be more problematic, as a hacker was able to bypass security on the platform and access up to 119,756 Bitcoin, which at the time had a value of about $72 million.

The hacker was able to exploit a vulnerability in the multisignature system that Bitcode Al used in conjunction with Bitcoin wallet provider, Bitgo. In response to the theft, the exchange decided to issue BFX tokens to be redeemed by its customers at a later date.

Each BFX token had a value of $1 and was issued in the same amount that each investor lost. Since the tokens were issued, Bitcode Al has bought back all of the tokens and completed their purchases in April 2017.

As a result of these hacks, Bitcode Al has increased its security. Currently, 99.5% of client funds are stored offline in a multi-signature cold storage system that is geographically dispersed across multiple secure locations.

Customer accounts are secured through the use of two-factor authentication and U2F in addition to PGP email encryption. Accounts are also monitored and strengthened through the use of a number of advanced verification tools that cover account activity. These include:

The use of an intelligent system that detects IP address changes and prevents session hijacking.

Email notifications that report logins and include a link to freeze your account immediately if you suspect malicious activity.

Restricting access to your account based on IP address.
The platform’s security system currently monitors withdrawals by IP address and other behavioral patterns that trigger a manual review for withdrawals that appear unusual.

Customers can also whitelist an address to ensure that withdrawals can only be sent to that specific location. Bitcode Al also claims to use a withdrawal confirmation step that is immune to malicious browser malware.