Crypto Profit Review 2024 - Is it Legit or a Scam?

What is Crypto Profit?

Crypto Profit is an automated trading tool that uses powerful AI-driven technologies to allow for high-frequency trading on cryptocurrencies.

The system is said to automatically gather market data, analyse it and then select winning positions out of thousands of trading opportunities every other second. With this crypto trading robot, even ordinary people are said to have the chance to trade like elites.

Who Created Crypto Profit?

Crypto Profit was created by software engineers who wanted to achieve two things—bring crypto trading closer to newcomers to the crypto industry, and remove the stress that accompanies manual trading.

In doing it, they achieved even more by giving investors and traders a reliable robot capable of processing market information at rapid speeds and reacting to that information in real-time.

The trading bot is also working with a number of regulated brokers, which allows users to have access to all the best prices, and benefit from their changes.

Key Features of Crypto Profit

Crypto Profit is a trading bot rich with various features that are well-organised and quite helpful when using the software. Here are some of the most notable ones that you will likely appreciate if you opt to use this robot.

Payouts

The payout system of any trading robot needs to be perfect for the best user experience, and Crypto Profit has got it covered rather well.

The system is programmed to start as soon as the live trading session ends, completely automatically. After researching it, and based on online reviews, we concluded that it is accurate and with no flaws of any kind.

The auto-trading system itself is reportedly working rather well, and it is very easy to use, making it a great way for new users to get familiarised with crypto trading, and gain experience on how to react under certain conditions in the market.

Verification System

Creating an account is very easy. However, keep in mind that you also have to verify your identity in order to start trading with Crypto Profit’s regulated brokers.

After you register on the trading bot, it will redirect you to a regulated broker page, where you will have to submit a government-issued ID, as well as a document that can confirm that you live at the address that you have specified.

This is something that you simply have to do, or you won’t be able to access the brokers. It was introduced after authorities around the world pressured crypto businesses into insisting on KYC procedures.

Withdrawal Process

The withdrawal process on Crypto Profit is rather seamless, thanks to the robot’s partner brokers. Users can withdraw their funds whenever they want, although they first need to submit a withdrawal request form. After that, their funds will be processed, and they should appear in the user’s bank account within a few hours.

Also, it should be noted that withdrawals are completely free, with no additional charges.

With that said, there are many users who have complained about the withdrawal process taking significantly longer than expected, with some users having to wait for three days or more for their request to be processed.

Costs and Fees

When it comes to costs and fees, Crypto Profit handles things quite well. Registering an account is completely free, and so are deposits and withdrawals, as mentioned. There is a single service fee that is charged after the live trading session ends. The system will remove a certain percentage of the profits, and that will be it.

The money will then be used for managing operations, settling bills, and keeping the system safe and without issues.

User Testimonials

User testimonials for Crypto Profit have been uncharacteristically split between two groups—those who love it and those who hate it. A lot of users who had a bad experience with the platform are complaining about losses or prolonged waiting periods. Also, it is worth noting that on websites such as trustpilot.com, such users are in the majority.

With that said, it is not unusual for angry users to rush and warn about their bad experiences, while satisfied users tend to continue trading without providing feedback. Additionally, users who experienced losses might have had a negative experience through a fault of their own, as they could have set incorrect parameters that the bot needs to follow while operating.

It is impossible to know for sure, but the fact is that there are plenty of users with positive experiences, so the bot likely isn’t as bad as some reviews might make it seem.

Customer Service

The platform’s customer support team is available 24/7, which is a good thing, as it implies that users can get quick responses to their issues at any time of day or night. This is also useful since the bot services over 100 countries, so those located on the other side of the world do not have to wait for working hours to begin before they can request or receive help.

Customer service is also available in different languages, which is also a nice thing to see, since it implies that users can get help in their native language, provided that it is supported.

Affiliated Brokers

Reportedly, there are eighteen brokers affiliated with the trading robot. They are all regulated professional brokerage services, although it is unknown what methods or criteria the robot’s team used to select them.

Users have reported, however, that the brokers are available at all times by agreeing to work in shifts, which serves to reduce the burden on any individual service. They also monitor the auto-trading system, ensuring that everything will continue working as it should at all times.

Is Crypto Profit Legitimate?

Based on online reviews and testimonials of users of the site, Crypto Profit appears to be a legitimate automated trading bot. Of course, there are some who had negative experiences with it, but none of the users have reported that this trading bot is a scam or that it provides false information to its users.

5 Reasons to Use Crypto Profit for Trading

Demo account

A good way for new crypto users to learn how to trade—aside from watching the bot do it on its own—is to use a demo account. This account offers a simulated version of the crypto market, as well as fake money that can be used for practising in a risk-free environment.

Even experienced traders should consider using it for trying out new strategies before they go out and test them in the live market trading conditions.

Low minimum deposit

Unlike some other robots, Crypto Profit requires an initial deposit of just $250. There are many bots out there that request that you deposit a much higher amount in order to even start trading. Having a lower minimum deposit ensures that the robot will be available to a greater number of users, thus helping teach new crypto enthusiasts about trading.

Ease of use

Creating an account and then navigating the trading app is very easy. This is important for new traders who may not have experience with this kind of software. The crypto industry is already different from the likes of anything they have had a chance to experience before.

That is intimidating enough, and traders should not be further discouraged from participating by overly-complicated software. Crypto Profit seems to understand this well, and so it is pretty simple to use.

Fast deposits

Speed in allowing traders to start using the robot is something that is of crucial importance. After all, you don’t want to get all excited about a good robot, only to have to wait for days before your money arrives and you can start trading.

Crypto Profit understands this also, which is why it quickly processes incoming payments so that they would appear in their users’ accounts as soon as possible. After that, all that users need to do is use that money for entering trades through an automated system.

Stop-loss feature

Stop-loss is another very important and very useful feature for crypto trading, and particularly for crypto trading robots, which tend to be left without anyone who would watch the trades unfold. Essentially, when you enter a trade, and you expect the coins’ prices to go up—this does not always happen. Corrections and market crashes are very common in the crypto industry, and single news can determine what will happen with the price.

This is why you select a price below the current market price and set a stop-loss order, which basically means that your trade will end automatically if the price ever drops low enough to touch this limit. As you will not be there to monitor the bot’s trading all the time, you can see how this can be beneficial. That way, your losses will be minimal. Of course, you still need to do research to determine the stop-loss limit. After all, prices go up and down all the time, and you want stop-loss to be activated only in case of a real price drop, not as a result of regular fluctuations.

What’s the Best Way to Use Crypto Profit?

The best way for new users to use Crypto Profit is to start learning about how to trade. As mentioned before, you can monitor the robot’s actions, and see how it behaves under different circumstances, which you can later try incorporating into your manual trading strategy.

Alternatively, you can also use it on crypto derivatives platforms, and trade more complex assets like CFDs automatically.

Has Crypto Profit Ever Appeared on TV?

Sometimes, some crypto-related software may appear in TV shows such as Shark Tank or Dragons Den, where people with various ideas get a few minutes to present their invention to successful businessmen. If someone happens to like their idea, it opens many funding opportunities for the participants.

Dragons Den

Our research suggests that it was never mentioned on Dragons Den, which is a shame, as we expect that it could have attracted quite a bit of support from investors. As things are, however, the robot has attracted funding through different means.

Shark Tank

Shark Tank is another popular show where good ideas get a platform to pitch for potential funding opportunities. However, we did not find any ties between Crypto Profit and this TV show.

Has Crypto Profit Ever Been Endorsed by a Celebrity?

The cryptocurrency industry attracts people from all walks of life, especially these days, when even major companies and businessmen are either already working with it, or are researching it.

People like Snoop Dogg, Paris Hilton, Elon Musk, Ashton Kutcher and many others have endorsed or openly used Bitcoin over the years.

Snoop Dogg

Snoop Dogg first expressed interest in Bitcoin all the way back in 2013, noting that he would be open to accepting it for his upcoming album at the time. Back then, crypto did not catch the public’s interest yet. It is known that he sold his music for 0.3 BTC per album, although it is unknown how many albums he actually sold in exchange for BTC. But, our research doesn’t tie him to the Crypto Profit trading robot in any way.

Paris Hilton

Paris Hilton has been interested in cryptocurrency since 2017, according to our research. Back then, the ICO token sale model was popular, and Hilton once noted that she was looking forward to participating in one of these token sales. But, she never mentioned any trading robot, including Crypto Profit, so she does not have any known ties to it.

Elon Musk

Elon Musk is well known throughout the world as the CEO of Tesla, SpaceX, The Boring Company and the original founder of PayPal. Over the last few years, he has addressed crypto many times, usually half-jokingly, with most of it happening on Twitter. But, he never addressed any trading robot in his tweets, interviews, or in any other manner and that includes Crypto Profit.

Ashton Kutcher

Ashton Kutcher is a known supporter of cryptocurrency, and he openly admitted to investing in several coins, even praising UnikoinGold for its use in online gaming. However, as far as we know, he never said anything about trading bots that could be used for automated trading, and he was never connected to the bot in any way.

5 Ways You Can Maximise Success With Crypto Profit

The best way to maximise your success with Crypto Profit, or even when trading manually, is to keep in mind some base rules regarding your behaviour, approach and take precautions so that you would not suffer massive losses. For example, you should:

Start Small

If you are a beginner—whether in trading crypto, in general, or just when it comes to using robots—you, obviously, should not take great risks. Risking assets for the benefit of major rewards is fine for experts who know what they are doing. New traders or new bot users should not risk their funds just because they might get something out of it, especially not until they know how the robot works and what to expect.

Many traders commit the mistake of investing too much on their first go, just because they have seen someone else do it and make massive returns.  You won’t necessarily have the same outcome if you try this, and you may end up losing hundreds, or even thousands of dollars at once.

Start small, figure things out, test the system. Then, and only then, when you feel confident about your knowledge of the robot and its systems should you try using larger amounts.

Save Some Profits

Earning profits through trading is an incredible feeling. After all, you did just create money out of pure price speculation. It is understandable that your first impulse would be to withdraw that money and treat yourself to something nice.

But, trading is a game that is played by certain rules, and that includes being careful regarding how you manage your funds. In other words, do not just spend everything you earned, as there might come a time when you will need it. If you experience losses—which is possible, even with a trading robot—you will have to deposit money all over again and start from the beginning.

It would be easier to already have some of the funds stored in your account, to draw from.

Follow the Advice of Experts

Crypto experts are called that for a reason—they know what they are doing. If you don’t—there is no shame in that. You are new, and so were they, a long time ago. However, you have an advantage that they didn’t have, and that is someone who knows the matter better than you.

The crypto industry is new. It has only been around for 12 years. Those who we call experts today were there from the start, and they didn’t have an older generation of experts to look up to. You do. So, use that to your advantage. Follow their advice on what to do, what not to do and how to manage risk while trading.

The market is always changing, the prices are always on the move, and these people have seen it all before. Of course, we don’t mean to imply that you should follow their advice to the letter. They can still give bad suggestions from time to time. But, as experts, their thoughts are worth hearing out, at least. Then, you make your own conclusions and proceed accordingly.

Keep a Record for Tax Purposes

You may or may not already know this, but crypto profits are subject to taxation in most countries these days. That means that you need to keep detailed records of all trades, profits, losses, and even transactions, just for good measure.

When the time comes to file your taxes, you will have to include all of these details in order to calculate your debt to your country properly. Not doing so is likely to put you in a very bad position with the tax agency, so definitely try not to get it wrong.

The reason why you need to keep details as you go along is that crypto prices constantly change, and you will have to file your taxes using information that was relevant from the time you made profits or losses, not the prices as they are at the time when you file taxes.

Only Invest What You Can Afford to Lose

Lastly, we would suggest that you do not risk the money that you can’t afford to lose. Losing money in the crypto industry is an everyday occurrence, even for experienced traders. Nobody can only ever win, without losing some of it, and if you lose all you have, then you will be in big trouble until your next paycheck.

When traders have a streak of bad luck, and they lose their money dedicated to trading, they often feel an impulse to add just a bit more from the funds that they already have stored away for everyday life. Especially if they are sure that they get it now, and that they will definitely restore their losses with this next trade.

Then, they fail again, and they are left without the funds that they desperately need. Don’t put yourself in this situation, even if you are not the sole provider for your family, and definitely do not risk that money if someone else depends on you.

Our Conclusion

Based on online reviews, Crypto Profit appears to be a genuine platform for automated crypto trading. Reportedly, it has low fees, good tools, it is easy to use and the onboarding process is simple.

It has reportedly partnered with at least eighteen regulated brokers who work in shifts to monitor the bot’s auto-trading and constantly provide users with access to the market.

There are complaints about the withdrawal process taking a long time to be processed, as well as reports of users losing funds. However, the bot never guaranteed that there are no risks, as that would be untrue. Risks are a major part of crypto trading, and that is why users need to be careful when using this software and setting up parameters for the bot.