1K Daily Profit Review 2023 - Is it Legit or a Scam?

1K Daily Profit
Fact Checked
We are aware of numerous websites which use false celebrity endorsements to send customers to unregulated brokers or call centres. Our website will only send customers to partners who have provided us with the required regulatory assurances. This is a marketing offer and our regulated partners will indicate what services they have available upon registration.

1K Daily Profit is a crypto trading bot that eases trading by automating analysis and executing trades on its users' behalf. It aims to give retail traders, especially newbies, a market edge, through its advanced trading software.

If you are looking for a reliable and profitable cryptocurrency trading robot, you may want to read our 1K Daily Profit review. It covers everything you need to know about the bot to make an informed decision.

Our Investigation Result: 1K Daily Profit is Legit!

Having undertaken extensive research and investigations, we can assume that 1K Daily Profit may well be a legitimate cryptocurrency trading platform. All claims made by the platform appear to be accurate.

If you are interested in signing up for a free account with 1K Daily Profit, use the link below to start trading and an account manager will walk you through the process.

1K Daily Profit Summary

Minimum Deposit 

$250

Fees and Commission

0.01% commission

Claimed Success Rate

99% (unverified)

Supported Cryptocurrencies

5+

Deposit and Withdrawal Fees

None

Trading Platform

MT4

Demo Account 

Yes

Verification

KYC

Leverage

4000:1

Table of Contents

What Is 1K Daily Profit?

1K Daily Profit is an automated cryptocurrency trading bot created to help traders increase their earnings by trading more accurately using AI-powered algorithms. The bot is geared towards new traders as its primary function is to ease trading by automating much of the required analysis in the financial markets.

The bot has several features that set it apart from other top crypto bots on the market, including its ability to trade multiple currencies simultaneously, a friendly user interface, and its claim of $1000 profit every day.

Who Created 1K Daily Profit?

1K Daily Profit is said to be the brainchild of a renowned computer programmer who worked for leading financial institutions around the world. His research into the best trading tools is said to have yielded enormous returns for his employers, leading him to dedicate his skills to empowering people around the world through algorithmic trading.

How Does 1K Daily Profit Work?

1K Daily Profit uses artificial intelligence to buy and sell cryptocurrencies to make a profit. It does this by processing real-time crypto price data, conducting market analysis using statistical models to spot trends and relationships between price variables, and then sending trade signals based on established patterns.

When it spots a pattern, the trading software sends trade signals to a broker account usually hosted by a third-party partner as 1K Daily Profit partners with several around the world. The bot works with these top crypto brokers to implement risk management policies.

1K Daily Profit has an automated mode that executes orders without user supervision. To activate it, users will need to set initial trading parameters, usually called a trading strategy, to guide the bot’s actions.

Once activated, the bot runs with the trading strategy and finds profitable trades within the parameters set. This mode gives trading bots their edge to make profitable trading decisions and is a key reason they are so popular.

To execute trades, the automated trading software uses a financial derivative called Contracts for Difference (CFDs) which are securities that track the price of underlying assets. With CFDs, traders benefit from crypto price movement in both long and short directions by longing or shorting the CFD.

These contracts also make it possible to take advantage of leverage facilities to magnify trading outcomes. 1K Daily Profit offers 4000:1 leverage, this leverage trading feature means that for every $1 a user puts in as capital, they can borrow $3999 to increase their position size.

A later section goes further into how CFDs work.

1
Min. Deposit
$ 250
Promotion
User Score
4
Get Support From A Free Advisor
Super-competitive Low Minimum Deposit
New Market-Leading Interface 2021
Start Trading
Description:
Payment Methods:
Bank Transfer, Bank Wire, Credit Card, Wire Transfer
Full Regulations:
We are aware of numerous websites which use false celebrity endorsements to send customers to unregulated brokers or call centers. Our website will only send customers to partners who have provided us with the required regulatory assurances. This is a marketing offer and our regulated partners will indicate what services they have available upon registration.

Pros & Cons

Pros

  • Automated trading functionality
  • Multiple deposit options available
  • Fast withdrawals, usually within 24 hours
  • High success rate of up to 99%
  • Demo accounts available for practice
  • Low trade commission

Cons

  • Several competitors do not charge a commission

Key Features of 1K Daily Profit

High Success Rate

1K Daily Profit has a claimed success rate of 99%, one of the highest we’ve seen among automated crypto trading platforms. This means that the bot executes profitable trades 9.9 times out of 10. While this sounds impressive, it may also be too good to be true. Nonetheless, the bot is accurate enough to be consistently profitable.

Flexible Deposit Methods

1K Daily Profit supports several traditional deposit methods like bank transfers, credit cards, and debit cards which work for users in remote and third-world countries. In addition to the accepted payment methods, the bot also accepts deposits in USD, GBP, and EUR.

Tight Security

1K Daily Profit places an onus on securing user data by investing in top-tier security measures like SSL encryption on their websites and platforms. They also partner with regulated brokers to park user funds. These brokers implement more security measures, creating an extra security layer to keep funds safe.

User-Friendly Interface

Being built for beginners, 1K Daily Profit features a user interface that is simple and easy to use. We found the dashboard easy to navigate, and the strategies easy to implement. Thus, making it one of the easiest cryptocurrency trading robots to use on the market.

Demo Account

1K Daily Profit features a demo account that users can leverage to test new strategies, refine existing ones, and sharpen the algorithm's efficiency. These accounts are available upon verification and users do not have to deposit to use them.

Customer Support

1K Daily Profit has a fully functional customer support team ready to help customers sort out account issues. They are available 24 hours every weekday via live chat and an online form.

Transparent Fee Structure

1K Daily Profit does not charge for account openings and maintenance, deposits, or withdrawals. However, they charge a 0.01% commission on every trade, which they are upfront about on their website.

Verification System

When we were setting up a test account, the registration process was fast and simple because of a quick verification process. The information we supplied to get our account set up included full names, a working phone number, and an active email address. 

After submitting the details, we received a call from a customer service rep who asked a few questions to validate the information provided. The entire process did not even approach 30 minutes.

The Withdrawal Process for 1k Daily Profit

If you can make $1,000 per day, then it is only sensible that you be able to withdraw frequently to avoid ‘clogging’ your account. Luckily, 1K Daily Profit makes withdrawal fast and simple. You can make a request at any time of the day and as many times as is possible. 

The period between making the withdrawal request and getting a notification that your funds are on the move is quite short, two hours in our case. But there is a time difference for the funds to reflect in your bank account because different payment providers follow unique channels to move funds. 

Factors to Consider Before Using 1K Daily Profit

To help you decide whether or not to use 1K Daily Profit, we've reviewed several key factors that affect your experience with the robot. We've scored each factor out of 5 so you can get a quick idea of 1K Daily Profit's real-world performance.

Withdrawal Process: 5/5

1K Daily Profit processes fund withdrawals within 24 hours. When we tried withdrawing, we got our funds in under the expected time. All you need to do is fill out the withdrawal form found in your account dashboard and wait for it to be processed. There are no limits on withdrawals.

Verification System: 5/5

The verification process is a standard KYC procedure that requires users to submit a relevant ID and a proof of address document. Our verification process was straightforward. We reckon it should take about 20 minutes if all documents are readily available.

Costs and Fees: 4/5

There is a 0.01% commission charge on every trade. While this is common with financial software, several competitors do not charge trading fees. Luckily, the charge is not so high that it impedes trading, although you may need to monitor how many trades you make as it can add up quickly for a high volume.

User Testimonials: 4.5/5

There are enough user reviews on the bot’s website to show that people who use it are satisfied with its services. We also found reviews on other high-quality review sites that corroborate the bot’s services.

Customer Service: 3/5

User dashboards have a chat feature for getting in touch with the customer service team, however, this is only accessible to account holders. Non-account holders will have to rely on the contact form on the website.

Crypto Support: 4/5

1K Daily Profit supports over 5 cryptos, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Bitcoin Cash (BCH). They serve as underlying assets for over 20 CFD pairs.

Affiliated Brokers: 5/5

1K Daily Profit’s network of brokers makes it easy for people in various countries to sign up for and use the bot. These brokers are regulated by the Cyprus Security Exchange Commission (CySEC) and many have years of strong service delivery.

Deposit and Withdrawal Methods: 5/5

To begin using 1K Daily Profit, you’ll need to deposit a minimum of $250. You can deposit using credit cards and bank transfers. In our experience, the speed at which your deposits get processed depends on the method used. For the fastest result, we recommend a credit or debit card.

How Does 1K Daily Profit Compare to Other Automated Cryptocurrency Traders?

Several other trading bots function similarly to 1K Daily Profit, but each stands out in unique ways. For example, some bots only trade Bitcoin CFDs, while others trade commodities like oil.

Here are some alternative trading robots you can review:

  • 7Tesler: This platform is a great option for traders who want access to both the crypto and forex markets.

  • BitIQ: This crypto trading bot supports several cryptos and is great for traders who want several crypto CFD options to choose from.

  • Immediate Edge: This bot has one of the widest global reach as it serves users in more than 150 countries.

  • Quantum AI: This bot uses quantum mechanics to achieve higher accuracy.

Each platform has its strengths and weaknesses. 1K Daily Profit will be more suited to some traders than others. This is why it helps to research platforms first, so you know what they can help you with.

Is 1K Daily Profit a Legitimate Autotrader?

1K Daily Profit is a credible software that has passed our legitimacy test. In addition to the criteria we used to test its everyday working conditions, we also searched for reviews from past and current users.

We found numerous reviews online by users on several high-quality websites. It appears that other users have recorded profits while using the automated trading software bot, although some claimed that the high leverage could be tricky if not used well.

Is 1K Daily Profit Safe?

No platform is 100% safe. Nonetheless, as a trading platform, 1K Daily Profit uses industry-standard SSL security to safeguard user data. It also teams up with brokers to keep user funds, so no capital is on its servers. This way, even if there is a breach, your funds remain safe.

5 Reasons to Use 1K Daily Profit for Trading

Superior Returns

1K Daily Profit claims to generate $1000 profit per day thanks to its high success rate, and while this is not a guarantee, the bot is known to generate returns that exceed that of traditional investment products for any given period. While this comes with greater risk, reviews have shown that, with a sound strategy, the bot delivers consistent profits.

Automatic Trading  Mode

1K Daily Profit’s algorithm powers an automatic mode that carries out analysis and can trade without user intervention. The bot can implement strategies 24 hours a day, all you need to do is set the initial parameters.

User Friendly Interface

1K Daily Profit was made to be easy for beginners as they are its primary user base. The dashboard is easy to use, and educational materials are made available to help make onboarding smooth.

Easy Deposits

Users can deposit USD, GBP, or EUR through bank transfers, credit cards, or debit cards. This makes it easy for users in various regions to deposit funds and get started trading.

No Withdrawal Limits

You can withdraw your funds at any time, no matter how much you’ve made or lost. While other bots may impose withdrawal limits, 1K Daily Profit allows you to withdraw your funds easily when you need it. You can make a withdrawal request in your account dashboard and wait 24 hours.

What is the Best Way to Trade With 1K Daily Profit?

The best way for beginners to trade with 1K Daily Profit is to use the automated trading mode with a sound strategy and risk management policy. 

To do that, you must first familiarise yourself with the interface by using the demo trading account. This account uses real market data in a simulated environment to help traders test strategies, familiarise themselves with real-world trading conditions, implement risk management policies, and build discipline.

After the demo mode, move on to the automated mode. Here, you’ll use the algorithm to execute your strategy in a live account. A strategy involves setting limits that you're comfortable with and specifying trading preferences in the tool. We covered how to set strategies in the How to Use 1K Daily Profit section below.

Has 1K Daily Profit Ever Appeared On TV?

Like any product that gains some degree of popularity, 1K Daily Profit is the subject of several rumours about TV show appearances. We investigated the bulk of these claims. Here are our results.

Dragons Den

Dragons Den is a business show that features entrepreneurs who pitch their businesses before a panel of investors in a bid to win financing and business support. The show has featured a lot of businesses and technologies and naturally, claims that 1K Daily Profit featured on the show arose. However, our research proved this to be false.

Shark Tank

Similar claims were made online that the algorithm was pitched on Shark Tank, a US version of Dragons’ Den. However, after combing through the show’s catalogues, we didn't find any episode that features 1K Daily Profit.

Daily Mirror

The Daily Mirror is a daily newspaper publisher that prints tabloid-style journalism on politics, sports, business, gossip, celebrities, and pretty much anything worth talking about. While the newspaper has published pieces on tech businesses, there are no features of 1K Daily Profit.

Money Saving Expert

MoneySavingExpert is a financial website that gives tips and tutorials on saving money and being financially independent. The site is a thought leader on personal finance and has won the trust of millions of readers, so naturally, rumours spread that 1K Daily Profit featured on it. Our research shows that MoneySavingExpert has never published a feature on 1K Daily Profit.

1
Min. Deposit
$ 250
Promotion
User Score
4
Get Support From A Free Advisor
Super-competitive Low Minimum Deposit
New Market-Leading Interface 2021
Start Trading
Description:
Payment Methods:
Bank Transfer, Bank Wire, Credit Card, Wire Transfer
Full Regulations:
We are aware of numerous websites which use false celebrity endorsements to send customers to unregulated brokers or call centers. Our website will only send customers to partners who have provided us with the required regulatory assurances. This is a marketing offer and our regulated partners will indicate what services they have available upon registration.

Has 1K Daily Profit Ever Been Endorsed by a Celebrity?

1K Daily Profit was also the subject of rumours that celebrities and thought leaders with ties to crypto and technology endorsed the bot.

Elon Musk

The founder of forward-thinking startups like Tesla and SpaceX was said to be backing 1K Daily Profit. Once again, our assessment reveals that while he is a big fan of decentralised projects, Elon Musk did not officially endorse 1K Daily Profit.

Mark Cuban

The dot com billionaire, and highly regarded investor on Shark Tank, was also rumoured to have invested in 1K Daily Profit. However, our thorough assessment of the show as well as Mark Cuban’s social media profiles shows no evidence that backed or endorsed the trading bot.

Bill Gates

Bill Gates is the billionaire founder of Microsoft. He is known to disapprove of crypto, claiming that it has no intrinsic value, only what people are willing to pay for it. He has not thrown his support behind any crypto project, including 1K Daily Profit.

Jeff Bezos

Jeff Bezos, the founder of Amazon, has shown some support for the technology behind cryptocurrency. Several reports even say he is a fan of Bitcoin. However, he has never spoken of or endorsed 1K Daily Profit.

5 Tips for Using 1K Daily Profit Safely and Managing Risk

Start Small

When you start small, you can build your knowledge and understanding of how crypto trading works. When trading with 1K Daily Profit, it is best to stick to the minimum deposit amount and gradually build your portfolio size as you gather experience.  

Save Some Profits

It is sound advice to save some profits after successful trades. This is because trading is risky and there are no guarantees. Events like flash crashes may throw off bots and lead to deep losses. If you save some of the profit you make, ideally withdrawing it from the platform, you won’t lose everything if a trade goes wrong. It also frees up cash for diversified investments.

Stay Updated About Cryptocurrency Developments

To become an exceptional cryptocurrency trader, you need to learn about trading from experts and keep yourself updated on the latest news and developments. This will allow you to grow as an investor and develop the temperament needed to succeed. It will also allow you to see new opportunities.

Document Your Trades

Keep track of your trades and transactions. It helps improve your trading style and maintains a record for tax purposes. Countries are beginning to develop cryptocurrency tax frameworks that you must be compliant with.

Only Invest What You Can Afford to Lose

Never invest more money than you can afford to lose because no investment is guaranteed, not even with bots with 99% success rates. This way, if the bot fails, you won’t fall into financial ruin.

How to Use 1K Daily Profit - Step-by-Step Guide

1. Register for an account on 1K Daily Profit

To register for a 1k Daily Profit trading account, fill out the online form with your name, email address, and phone number. You will then receive a verification link in your inbox. Click on the link to verify your account by submitting a valid ID and a utility bill or bank statement with your name and address clearly shown.

2. Complete the registration form

Next, select a partner broker from the platform’s list. You’ll need to sign up for an account with them by following the step above. Note that some brokers may ask for proof of the source of funds for which a bank statement will suffice.

3. Decide on a trading strategy

Try new trading strategies, use already existing ones, or develop a custom trading strategy. 1K Daily Profit provides educational material so even users with no trading experience can begin using the bot.

4. Practice using the demo account

Use the demo account to test your strategy. This way, you have a higher chance of success in a live account. In the demo test, you are using real market data to train the algorithm to recognise your strategy's parameters in a live environment.

5. Deposit Funds

You can now deposit funds into your account to begin trading. The minimum deposit is $250. Check the broker’s deposit methods and limits for more accurate details on the payment channels available to you.

6. Set up automatic trading

Setting up automatic trading involves formulating values for the key parameters in your strategy. Every strategy has an entry point, an exit point (also called take profit), and a stop loss.

The entry and exit points are pretty straightforward: price points where you open and close the trade, respectively. However, the stop loss is a price point below the entry level for buy trades where the bot will close your position if your trade doesn’t work out.

Stop-loss is a risk management policy determined by the amount of money you are willing to risk on each trade. A rule of thumb is to never risk more than 3% of your total account value on a single trade. Going by this, you should place your stop loss at a price where the loss will be less than 3% of the total value of your trading account. 

1K Daily Profit Assets, Market, and Options

What assets can you trade using 1K Daily Profit?

1K Daily Profit is made specifically for the crypto market. The trading software supports five major cryptos, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Bitcoin Cash (BCH), and trades them using CFDs.

These CFDs pay the difference between an asset’s opening and closing price to the party that predicts the price movement accurately. 

For example, if you open a long contract, you predict a price increase. If your prediction is accurate, you get the difference between the price of the crypto at the start and the end of the trade.

For example, if you open a Bitcoin long trade at $15 and it rises to $20, you get $5. However, if BTC falls to $10, you pay $5.

Using these CFDs, 1K Daily Profit can offer more than 20 markets for traders to profit from as the cryptos supported are paired with major currencies like USD, GBP, and EUR.

What leverage trading options are there with 1K Daily Profit?

1K Daily Profit offers up to 1:4000 leverage for CFD trades. This facility is far beyond industry standards, can become a stumbling block for inexperienced traders, and is not allowed in certain countries. We came across reports of traders cautioning against using too much leverage.

When using leverage, never use more than 1:500, especially when your capital is small. Beginners are advised to start with the $250 minimum deposit. With a 4000x leverage facility, traders can set position sizes as large as $1 million.

The problem with this is that crypto is volatile. If a position that is too large, small movements can wipe out their entire capital, even if the bot’s prediction is accurate.

What are the spreads on 1K Daily Profit?

1K Daily Profit does not specify spreads on their website, however, we believe that they largely depend on the broker you choose as they are known to place spreads on their CFD pairs.

Can I Use 1K Daily Profit in my Country?

Can I use 1K Daily Profit in the US?

No

Can I use 1K Daily Profit in the UK?

No

Can I use 1K Daily Profit in Australia?

Yes

Can I use 1K Daily Profit in Sweden?

Yes

Can I use 1K Daily Profit in Germany?

Yes

Can I use 1K Daily Profit in Austria?

Yes

Can I use 1K Daily Profit in Switzerland?

Yes

Can I use 1K Daily Profit in Denmark?

Yes

Can I use 1K Daily Profit in Finland?

Yes

Our Overall Verdict of 1K Daily Profit

1K Daily Profit has some attractive selling points. The first is its 99% success rate along with claims of its ability to generate $1000 worth of profit daily. While we cannot speak to this, we have seen that it generates some profits for users.

Other positives include its automated trading mode, which is great for beginners who don’t know how to or do not want to spend hours on market analyses, a user-friendly interface that aids in onboarding new users, and flexible deposit methods that work to make the bot a top choice for newbie crypto traders.

However, ensure that you are comfortable with the bot’s processes, fees, and conditions before starting. For example, 1K Daily Profit charges a 0.01% commission on all trades and requires a minimum deposit of $250.

To begin trading, visit the 1K Daily Profit website and sign up for an account by following the steps in the How To section above.

Review Methodology

We review crypto robots by aggregating various tests, reviews, and testimonies across the web, allowing us to give you a balanced view that accounts for multiple perspectives. Check out our why trust us and how we test pages for more information on our testing process.

We are aware that the internet is full of false testimonies: there are several purported trading robots out there that are, in fact, scams. For this reason, we find it important to compare information from across the internet in our 1K Daily Profit review.

Frequently Asked Questions

How much is the minimum deposit?
The minimum deposit required for 1k Daily Profit is €250.
How much can I make in weekly profits?
Different users have reported various profit levels from €400 to €2500 each week. However, you need to know that what you earn depends on how much you can trade with and how you manage your risk.
How much do I pay to use 1k Daily Profit?
There is no associated usage fee for this bot. Having paid the minimum deposit, you are free to trade.
Is crypto profit taxable?
Yes. Cryptocurrency profits are subject to tax.
What is the withdrawal limit?
No withdrawal restriction is imposed on users.
Is there a demo account feature?
Yes. You can practice trading using the demo account feature.
Is the bot safe?
The bot appears to be safe. There is end-to-end encryption on the bot that safeguards user data.
What is the processing period for withdrawals?
All withdrawal requests are processed within 24 hours.
Disclaimer: All testimonial photos are stock imagery and do not represent the people behind the feedback.