Automated bitcoin trading has become popular recently as many individuals have profited from it. However, the industry seems to be suffering from a rise in fraudulent platforms, so these robots are being scrutinized.
According to its creators, the NFT Profit trading platform will be among the top trading robots in 2022. The automated trading platform boasts a success rate of about 95% and daily profits of over €1,500. This NFT Profit Review investigates the accuracy of these claims.
One of the premier cryptocurrency trading robots, NFT Profit, promises beginner traders new to the cryptocurrency market guaranteed profits. This trading platform executes trades on your behalf by speculating on crypto prices using artificial intelligence algorithms and machine learning. Traders can trade CFDs for Ripple, Litecoin, Ethereum, and Bitcoin.
We will examine the pros and cons of the NFT Profit platform in this review to help you determine if it’s a scam or if you should steer clear of it. See below for more details in our NFT Profit review.
NFT Profit’s claim to fame
NFT Profit asserts that it is one of the top automated trading platforms in the world. The NFT Profit platform doesn’t buy or trade specific coins. Instead, it claims to deal in NFTs or non-fungible tokens.
NFTs can be any unique digital assets, often digital artwork, including images, videos, and text. The NFT market value has rapidly grown to around €18 billion, and several crypto exchanges have added NFT markets to help users trade NFTs.
Understanding the NFT Profit Platform
Distinction from traditional crypto trading
The NFT Profit platform monitors market trends to buy and sell NFTs for profit, according to the NFT Profit website. Furthermore, the NFT Profit claims investors can start trading on the platform without prior NFT knowledge or experience.
NFT Profit is distinct from traditional cryptocurrency trading platforms, focusing on trading NFTs rather than coins like Bitcoin or Ethereum. NFTs have fundamentally different properties than cryptocurrencies in that they are not forms of money but relatively rare digital commodities with attributes of art.
The surge in NFT market value
The NFT market has ballooned to around €18 billion, prompting major crypto exchanges to add NFT trading capabilities. The unique properties of NFTs as digital art and collectibles have driven intense speculation and demand.
NFT Profit aims to capitalize on this surge in NFT market value through automated trading. The platform claims it can identify optimum NFT trades by monitoring market trends. Users need no prior NFT or art market knowledge to profit.
How NFT Profit Operates
Market trend analysis for NFTs
According to the NFT Profit website, the trading platform uses artificial intelligence and algorithms to analyze market trends for NFTs. It looks for data points and signals that could indicate profitable trading opportunities.
The NFT Profit trading bot claims to scan price fluctuations across countless NFTs in real time. When its algorithms detect trading opportunities likely to result in profits, the bot will automatically execute trades on behalf of users.
The promise of a high success rate
NFT Profit states on its official website that its algorithm has a 99.6% success rate in trading NFTs profitably. According to testimonials on the NFT Profit site, some users who started with just a €250 minimum deposit have made over €5,000 within their first week of using the platform.
As part of our review, we could not verify the testimonials or the claimed success rate of the NFT Profit trading platform. It’s essential to remember that all asset trading involves risk, including NFT trading.
Unique Features of NFT Profit Software
Focus on NFT trading.
The NFT Profit software is unique compared to other cryptocurrency trading bots because it focuses on the NFT market rather than coins like Bitcoin or Ethereum. NFTs have very different properties than cryptos as they are not forms of currency but relatively rare digital commodities.
The NFT Profit app automatically aims to find the best deals in the NFT marketplace. The trading platform does not disclose what factors it considers when deciding which NFTs to trade.
Instant trade execution
According to the NFT Profit website, it converts user deposits into Ethereum before using that currency to trade NFTs. This conversion to Ethereum enables near-instant trade execution since Ethereum transactions happen quickly.
Faster trade execution than is possible with fiat currency is enabled by the NFT Profit app because of this workflow. This gives the trading bot an advantage in capitalizing on volatile market movements.
Claimed success rate and user testimonials
NFT Profit claims on its official site to have an algorithm that is 99.6% successful in trading NFTs profitably. According to testimonials on the NFT Profit website, some users who started with just a €250 minimum deposit have made over €5,000 in their first week of using the platform.
As part of our review, we could not verify the testimonials or the claimed success rate of the NFT Profit trading platform. Remember that all asset trading carries risk, including NFT trading.
Variety of CFD assets
The NFT Profit app’s CFD assets include contracts for Bitcoin, Tether, Ethereum, and Ripple. Traders can trade a single contract or multiple digital assets to diversify their portfolios.
Integration of AI and machine learning
NFT Profit uses artificial intelligence and trading signals to forecast the cryptocurrency market and execute trades. Trading settings can be customized so the artificial intelligence algorithm only makes trades according to your strategy.
Availability of a demo account
NFT Profit offers a helpful demo account that allows you to practice trading without the risk of losing any real money. After funding their broker wallets, traders can access the demo account and start trading.
Functionality of the NFT Profit App
Comparison with other crypto trading platforms
The NFT Profit app functions similarly to online platforms where users can buy cryptocurrencies. By adjusting settings like stop-loss limits according to crypto trading strategies, traders can allow live trading. The bot uses an algorithm to draw conclusions about the market and select the best deal. In all countries where CFD trading is legal, the user can access her NFT Profit.
It’s important to remember that CFD contracts only deal with coin values. The underlying crypto token is not yours to keep.
Algorithm-driven market analysis
To use the NFT Profit app, users do not need prior expertise in trading cryptocurrencies. This bot is designed for beginner traders and is simple to use. However, do not expect guaranteed profits. Despite what the website may claim, no one can predict short-term changes in cryptocurrency values.
Trading bots’ high risk and reliability is well known, especially when using leverage. Only deposit what you can afford to lose if you want to use the NFT Profit app.
User accessibility across countries
Access to their NFT Profit is provided to the user in all countries where CFD trading is permitted. The trading bot can analyze breaking news worldwide and incorporate this data to guide trading choices. Hopefully, this clarifies how this platform works and the conveniences it offers traders of all skill levels.
Joining the NFT Profit Trading Platform
Account creation and verification
To register for a free NFT Profit account and start trading, follow these steps:
- Click the NFT Profit signup form, fill out the registration form, and verify your information once you get an email with a verification link.
- Speak with the adviser, complete KYC, and deposit your funds.
- Practice using NFT Profit on the demo account until you feel comfortable. Go to the live trading session after you’re familiar with its operation.
Making a deposit and starting trades
To use the auto-trading function on the NFT Profit app, account holders must make a €250 minimum deposit. The trading robot then leverages this deposit to execute trades. No monthly or annual fees are charged for NFT trade.
Many regulated brokers don’t require a minimum deposit or registration fee to open an account. Consider using a different broker if you are unwilling to put down a €250 deposit.
Customizing trading settings
Once you understand how the trading platform works, you can tweak the settings according to your trading strategies. Turn on the auto trading feature to enable NFT Profit to make trades on your behalf.
Costs and Payment Methods for NFT Profit
Minimum deposit requirement
To use the auto-trading function on the NFT Profit app, account holders must make a €250 minimum deposit. The trading robot then uses this deposit to execute trades. No monthly or annual fees are charged for NFT trading.
The minimum deposit may be too high for some traders. Try it out on the demo account first. Also, the bot is connected to brokers with varying fees. You should confirm that it fits your budget.
Absence of recurring fees
NFT Profit charges no monthly or annual fees for NFT trading. Opening an account does not require paying a registration fee either. Some brokers may have recurring account fees, so evaluate the total costs.
Multiple payment options
Numerous payment options are accepted by the NFT Profit app, including:
- Credit card
- Debit card
- Bank transfer
NFT Profit does not specify additional deposit and withdrawal options. However, users cannot pay with PayPal or Venmo.
Withdrawals go to the duplicate local bank accounts where funds were added. Your credit card company may charge you more. Deposits can take a few days to hit your account.
Trustworthiness of NFT Profit
The risk associated with crypto trading
Numerous signs point to the legitimacy of the NFT Profit trading robot. However, remember that cryptocurrency trading carries significant risks if you consider doing so. The volatility of the crypto market means trading cryptocurrencies involves a substantial risk of financial loss.
However, trading with the NFT Profit app dramatically reduces your risk of loss. Profits and losses in crypto are purely based on how much the underlying asset deviates from its initial value, which is highly unpredictable and time-sensitive.
The platform’s approach to news integration
The system behind the NFT Profit app can also process breaking news worldwide. Our design incorporates this data to inform trading decisions. Hopefully, this clarifies how this platform works, its reliability, and its advantages to traders of all skill levels.
Tradable Products and Assets on NFT Profit
Available cryptocurrency contracts
NFT Profit offers CFD contracts for the most popular cryptocurrencies. Users cannot trade the actual currencies directly, only CFD contracts. Digital assets offered by NFT Profit include:
- Bitcoin (BTC)
- Tether (USDT)
- Ripple (XRP)
- Ethereum (ETH)
- Litecoin (LTE)
Ultimately, traders interested in crypto should strongly consider the NFT Profit trading robot. Unfortunately, you can’t use it to trade stocks or other real-world assets like forex. Consider your options if you want to sell on the digital art market. You don’t need much knowledge of crypto or NFT markets because it was designed for beginners.
Limitations in trading options
You cannot directly trade the underlying cryptocurrencies with NFT Profit – only CFD contracts. Users interested in buying and selling crypto coins must use a different platform. NFT Profit also does not offer the ability to trade stocks, ETFs, commodities, or forex.
Leverage Trading on NFT Profit
Absence of leveraged trading
Leveraged trading options were not available on NFT Profit. Crypto trading bots often provide high-leverage trading instruments so users can profit more from their trades.
In leveraged trading, brokers lend traders money to make more significant trades, which traders pay back when profitable. Several licensed and unlicensed brokers offer leveraged reading. Trading bots typically provide excessive leverage, which novice traders should avoid.
Risks and recommendations for margin trading
Novice traders should avoid margin trading unless they have a proven strategy. We also recommend using regulated and trustworthy brokers when trading with leverage. Even though they may not offer high power, you won’t lose as much money if your trades are unsuccessful.
Consider finding a different provider if a trading bot promises huge earnings through leveraged trading.
Understanding Spreads and Testimonials
Lack of spread information on NFT Profit
NFT Profit does not provide any spread information on its website. Brokers will offer spreads and vary from broker to broker. Spread values will also likely fluctuate over time. You can learn more by contacting the broker directly.
Authenticity of user testimonials
The NFT Profit trading platform has numerous positive Trustpilot reviews. Users have left many comments about their experiences with this Bitcoin robot on the review site. The vast majority of these reviews are positive.
Media and Celebrity Endorsements
Debunking TV show claims
False claims of being featured on TV shows are common among fraudulent auto-trading bots. NFT Profit also tried to mislead the public by publicizing its supposed TV appearances. However, the shows mentioned have confirmed these claims are bogus:
- This Morning: The famous British show denied ever featuring auto trading bots like NFT Profit.
- Shark Tank: Despite NFT Profit’s claims, Shark Tank has never featured or endorsed the trading bot, according to the show’s sources.
- Dragon’s Den: The show hosts insisted they never endorsed auto trading schemes like NFT Profit.
Celebrity endorsements and their validity
Celebrities are often falsely implicated in the misleading marketing of auto trading software. NFT Profit claimed connections with stars like Gordon Ramsay and Gary Vaynerchuk. However, our research found:
- Gordon Ramsay has never endorsed or used NFT Profit to trade.
- Gary Vaynerchuk does not endorse NFT Profit and has no history of using it for trading.
According to our analysis, none of the big-name celebrities have approved this trading bot.
Pros and Cons of NFT Profit
Advantages of using NFT Profit
Here are some of the significant benefits of the NFT Profit platform:
- Trades NFTs rather than just individual crypto coins
- Requires no prior art market knowledge
- Claims a very high success rate of 99.6%
- Charges no transaction fees or recurring fees
- Has user testimonials on the NFT Profit site
Potential drawbacks of the platform
Some potential limitations to consider:
- Requires a €250 minimum deposit to trade
- Does not offer a mobile app currently
Overall assessment of NFT Profit’s legitimacy
Extensive online testimonials and reviews have uncovered significant evidence that NFT Profit is a legitimate, trustworthy trading partner. As you can see from this 2022 NFT Profit Review, the platform does work.
Please use a demo account before trading real money if you consider using this service. Despite the advantages, exercise caution pursuing any trading opportunities. Keep risk low, and only invest what you can afford to lose.
Recommendations for potential users
If you want to start with NFT Profit for cryptocurrency trading, contact us today to learn how we can assist. Also, visit our crypto trading agency page to discover how our team incorporates natural language processing and entity salience into strategies.