Nft Profit Review
NFT Profit is a trading platform for cryptocurrencies that claims to work with automated trading algorithms. According to the website, NFT Profit is designed to enable users to make profits through automated trading of digital assets such as Bitcoin, Ethereum and other cryptocurrencies.
Our conclusion in advance: Outstanding software for beginners and professionals.
What is NFT Profit?
NFT Profit describes itself as an automated trading bot that is supposedly able to execute more profitable trades than human traders with the help of artificial intelligence and algorithms. According to the website, the software continuously analyses large amounts of data, recognises trading signals and then automatically executes transactions accordingly.
The bot is said to be able to recognise and react to market movements faster than a human trader. As soon as a user registers, deposits the minimum capital and sets the trading parameters, NFT Profit supposedly takes over trading fully automatically.
The platform states that no extensive knowledge or experience in crypto trading is required. Setting up and operating the bot should also be simple and intuitive.
Who is behind NFT Profit?
According to the website, NFT Profit was founded by a team of experienced brokers, analysts and software developers. The developers have years of experience in the financial and crypto sector.
Specific names of the founders are not mentioned on the website. However, it is common practice with trading bots that the developers remain in the background.
NFT Profit states that security and reliability are its top priority. According to the platform, only trustworthy and regulated brokers are connected to NFT Profit. This means that all trades and user funds are protected.
Technical aspects
NFT Profit allegedly uses state-of-the-art technologies such as artificial intelligence and machine learning for automated trading. We have checked the technical functions and details.
Robot type and supported cryptocurrencies
NFT Profit is a fully automated trading bot for the cryptocurrency market. According to the provider, the software currently mainly supports the following digital assets:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Ripple (XRP)
By linking to external brokers, however, trading with other altcoins and stablecoins such as Tether is also possible. The software only enables trading in cryptocurrency CFDs, not the purchase or sale of actual coins.
Software costs and trading fees
Use of the NFT Profit trading platform is free of charge. According to the provider, there are no monthly licence fees or similar.
A minimum deposit of 250 euros is required to open an account. There do not appear to be any additional fees for deposits and withdrawals either.
NFT Profit states that it charges a small commission per trade executed. However, more detailed information on trading fees is not provided.
Time frame for payment
According to NFT Profit, withdrawals of profits are generally possible within 24 hours. This time frame can of course vary depending on the withdrawal method chosen and the broker used.
In forums, some users report somewhat longer payout times of up to 5 working days. Some support enquiries regarding payouts are said to remain unanswered.
Trading strategies and algorithms
NFT Profit claims to be able to achieve higher profits than human traders thanks to automated trading algorithms and AI technology. We took a closer look at how it works.
Automated trading and CFDs
The trading bot is said to be able to carry out profitable cryptocurrency transactions completely automatically. This is made possible by trading CFDs.
CFDs (contracts for difference) are highly speculative derivatives that make it possible to speculate on rising and falling prices and thus realise quick profits. However, with CFDs you never own the cryptocurrencies themselves.
According to NFT Profit, it continuously analyses large amounts of market data, identifies trends and then selects the best trades based on the user's chosen strategy.
Leverage and risks
Providers of crypto CFDs generally allow trading with high leverage of up to 1:500, which means that traders can trade 500 times their capital.
According to NFT Profit, high leverage is also possible when trading via the platform. Although this allows higher profits to be realised, the risk also increases dramatically.
High leverage always harbours the risk of a total loss of the capital invested. The stated profit promises should therefore be viewed with extreme caution.
Artificial intelligence and machine learning
NFT Profit advertises that the trading bot can achieve a much higher win rate than human traders with the help of artificial intelligence and machine learning.
The algorithms automatically analyse large amounts of data in order to make forecasts about the price development of various cryptocurrencies. The aim is to generate precise trading signals based on mathematical calculations and historical price data.
However, the extent to which the technology can actually generate profitable and reliable trades can hardly be verified by outsiders. In principle, promises of guaranteed profitability should always be viewed with scepticism.
Initial steps
We explain how to open an account with NFT Profit and set up the software for automated trading.
Registration and minimum deposit
To be able to use NFT Profit, you first need to register on the website free of charge. All you need to do is provide basic information such as your name, e-mail address and telephone number.
According to the provider, a minimum deposit of 250 euros must be made after successful registration in order to start trading. The deposit can be made by credit card, bank transfer or other common payment methods.
Access to the dashboard with all trading functions will only be activated once the deposit has been received.
Activation and trading strategy
Once the account and trading platform have been activated, NFT Profit can be activated. According to the instructions on the website, this is done with just a few clicks.
Before automatic trading can begin, some basic parameters such as the maximum trading capital, preferred assets, time frame and risk level must also be set. NFT Profit will then use these settings to execute trades independently.
Traders can adjust the trading strategy or deactivate the bot at any time. Experts recommend closely monitoring activity at the beginning and regularly withdrawing any profits.
Trading platform
NFT Profit has a web-based trading platform which, according to the provider, is also suitable for beginners thanks to its intuitive operation. We took a look at the most important functions.
Device compatibility
The NFT Profit trading platform can be accessed directly via the browser. No special software or app is required for download.
According to the website, access is possible from any internet-enabled device with an HTML5 browser:
- Desktop PC
- Laptop
- Tablets
- Smartphones
Both iOS and Android users should therefore be able to use NFT Profit easily and from anywhere.
Crypto exchanges and broker integration
According to its own information, NFT Profit is connected to several external brokers and trading platforms for cryptocurrencies. However, the exact exchanges that are connected are not communicated transparently.
As a rule, suitable brokers are automatically assigned during registration. It is important that these are regulated and licensed providers in order to guarantee the security of your own capital.
Experts advise checking the reliability of the assigned broker carefully, for example using registration numbers. If necessary, a manual switch to a secure broker should be made.
Country-specific availability
NFT Profit claims to be accessible worldwide and from almost all countries. However, access may be restricted in some countries with strict regulations for cryptocurrencies.
According to the provider, the bot is currently available in these countries, among others:
- Germany
- Switzerland
- Austria
- Great Britain
- France
- The Netherlands
- Poland
- and other European countries
For some countries such as the USA, China and Canada, NFT Profit does not appear to be accessible due to regulatory restrictions. Any interested party should clarify this before registering.
Security and regulation
In view of the steadily increasing number of cases of fraud in the crypto and trading sector, checking security and reliability is of fundamental importance. We have analysed NFT Profit in more detail.
Data protection and security practices
On the NFT Profit website, there is hardly any specific information on data protection guidelines or the handling of user data. All that is promised is 256-bit SSL encryption when logging in.
Whether and in what form personal data is passed on or sold remains unclear. It is advisable to ask support about this before registering or to check the terms and conditions carefully.
NFT Profit also does not provide any specific information on the protection and storage of customer funds and trading data. Here too, users can only choose trustworthy and regulated brokers.
Account verification and regulatory status
NFT Profit does not appear to be officially regulated or licensed as a broker. According to the website, this is not being sought.
However, in order to prevent money laundering and fraud, verification of new accounts is mandatory. This requires proof of identity and a copy of the identity card or passport to be uploaded. Only then is trading activated.
Although NFT Profit itself is unregulated, the provider points out that the connected brokers must have licences and regulations. In fact, many brokers are regulated by authorities such as CySEC (Cyprus) or FCA (UK).
Fees and payment methods
We have analysed the costs, minimum amounts and accepted payment methods at NFT Profit.
Minimum deposit and trading costs
NFT Profit requires a minimum deposit of 250 euros to open an account. Trading can only be activated once this money has been deposited into the broker account.
According to the provider, there are no other fixed fees for using the platform. Costs may only be incurred for deposits and withdrawals with the broker used.
NFT Profit is supposed to charge a small commission on profitable trades. However, the exact amount of this trading fee is not presented transparently.
Deposit and withdrawal methods
According to NFT Profit, all common payment methods are accepted for deposits to the trading account:
- Credit card (Visa, Mastercard)
- Debit card
- Bank transfer
- Electronic wallets (Skrill, Neteller, Webmoney)
The possible payout options may vary depending on the broker and country. According to the website, profits are generally paid out to the same account from which the deposit was made.
The minimum payout should be checked with the broker in advance. Many brokers require a minimum transaction of 200 or 300 euros.
Customer experiences
We have summarised the feedback and ratings from existing customers below.
Advantages and disadvantages
Positive aspects:
- Quick and easy registration
- Intuitive trading platform
- Automated trading without manual intervention
- High potential profits due to strong leverage
- Supposedly free access without fees
Negative aspects:
- Lack of transparency regarding fees and costs
- Hardly any information on security and reliability
- Support difficult to reach
- Identity check required
- High risk of loss due to fully automated trading
User reviews and feedback
Real testimonials from existing customers are difficult to find. The few user comments on portals such as Trustpilot are often contradictory:
- Problem-free profits are reported in some cases
- Other customers criticise payout problems
- Verification process is described as cumbersome
- Hardly any help from customer service
- Platform security is viewed critically
Positive feedback tends to predominate in forums such as Reddit. Many users advise testing NFT Profit with small capital initially and closely monitoring activities.
Learning materials and resources
NFT Profit sees itself as a platform for beginners and is therefore also aimed at inexperienced traders. Accordingly, there are few learning materials or resources on crypto trading on the website.
Informative blogs and websites
The NFT Profit Academy only provides some basic information and tips. For a comprehensive understanding of the crypto market, other external sources should be used.
We recommend independent websites and blogs, for example, which offer sound instructions as well as the latest news and analyses. Forums can also help to build up the necessary knowledge for successful trading step by step.
Tools and charts
The trading platform contains various tools for analysing markets and prices. These include
- Live charts for all major cryptocurrencies
- Indicators for market volumes and price fluctuations
- News ticker with automatic notifications
With these tools, even experienced traders can monitor the markets and make well-founded decisions. However, the tools alone are unlikely to be sufficient for beginners.
Customer support
Customer service is an important aspect of resolving problems and questions. We have checked the contact options at NFT Profit.
Contact options and availability
NFT Profit currently only offers limited customer service:
- Contact form on the website
- E-mail address for support enquiries
- No telephone support
- No live chat available
According to various user reports, it is sometimes difficult to make contact. Enquiries are sometimes left unanswered for days. There seems to be room for improvement here.
Conclusion
NFT Profit advertises with innovative technology and high potential profits. In principle, the fully automated trading platform is also suitable for beginners with no prior knowledge of crypto trading.
However, there is a lack of transparency regarding costs and fees. It is also difficult to check the reliability of the provider. It is advisable to proceed very cautiously and use the smallest possible amounts for testing.
Reviewd traders are more likely to use established trading platforms due to the lack of transparency and regulation. However, NFT Profit can be an option for beginners with small capital.
Simone Aescher is the founder and operator of the successful crypto blog aescher-ai.ch.
After studying business administration at the Frankfurt School of Finance, she gained over 5 years of professional experience in the financial sector. However, her passion has always been the financial markets and investments.
In 2019, Simone Aescher finally turned her hobby into a career and founded her blog. She shares her in-depth knowledge of shares, ETFs, cryptocurrencies and much more.
As an active trader, Simone is constantly testing new brokers, robo advisors and trading apps. With her honest product reviews, she helps her readers to separate the wheat from the chaff.
With her academic background, many years of experience and practical expertise as an investor, Simone Aescher combines the ideal prerequisites for competently analysing and evaluating the financial markets.