QProfit Review 2023

QProfit claims to be a next-generation cryptocurrency trader created to help users trade different cryptocurrencies with ease. The platform uses sophisticated algorithms to gather vast market data and conduct market analyses to achieve this goal. It is integrated with artificial intelligence (AI), which allows it to predict the direction the price of a given cryptocurrency will take with higher accuracy. It also integrates with machine learning that allows the trading bot to get better at its craft with time. Not only does the bot research the market for the user, but it will also execute trades on their behalf if they allow it to.

This auto trader was reportedly created by a bunch of crypto enthusiasts who grew increasingly frustrated by the existence of bots that only trade a single coin. The cryptocurrency market has over 9,000 coins, and the team felt users needed to have the option to venture into different markets without feeling limited. They assembled a team of developers who had experience developing trading bots for the traditional markets and began in earnest. The development took a few months, and after conducting several tests, the platform was launched in the summer of 2017.

1. Open a Free Account

The first step involves opening a free account by visiting the official QProfit website. Enter a username, valid email address, phone number and set a strong password. The next step will require you to enter additional information such as your official name, occupation, trading experience, and residential details.

2. Make a Deposit

You will be directed to a broker that operates within your locality to fund your account. QProfit associates with many crypto brokers worldwide who are regulated by respective authorities within the jurisdictions they operate. This enables the auto trader to provide its services to users across the globe. On the brokers' site, you will see various payment modes supported. Pick the most convenient for you and fund your account.

2. Start Trading

Once the funds get to your account, it's time to trade. However, if you are not familiar with cryptocurrency trading, ensure you pay a visit to the demo account. This will allow you to understand how to use the auto trader, and then you can proceed to live trading.

1. Trading Features

QProfit is an advanced auto trader that allows its users to venture into various crypto markets with ease. It employs regulated brokers' services. This allows it to offer various financial instruments attached to cryptocurrencies such as CFDs that allow users to boost their capital using leverage, thereby increasing their exposure within a given market. The bot will conduct research and even trade for you if you allow it to by tweaking a few settings.

2. Demo Account

The demo account simulates the cryptocurrency market in real-time. The only difference is you will be using "virtual money" provided by the robot. Usually, it's $100,000, which you can use to understand how the robot works. Learn to set strategies, and once you feel confident enough, proceed to the actual trading dashboard to trade.

3. Success / Win Rate

The QProfit website claims this bot has a success rate of 98%. However, we feel such high rates will be difficult to replicate for amateur users. New users must practise risk management and invest small amounts initially to prevent losing their entire capital. 

4. Cryptocurrencies on QProfit

As mentioned earlier, this auto trader was born to solve issues that existed with the first generation of cryptocurrency auto traders that focused on a single coin such as Bitcoin or Ethereum. Using QProfit, you can trade over 500 altcoins which is quite impressive. 

5. Instant Payouts

Another claim we found on the bot's website was its ability to offer instant payouts. On its website, you will see a list of some of the payouts made within the day. Also, we were able to experience this first hand as the winnings were reflected in our accounts instantly the moment our trading positions closed.

The section below will outline three simple ways you can use to maximise your profits on this bot based on our findings.

Follow the Advice of Experts

Following the advice of experts will help you save time and prevent learning from your own mistakes, which can be costly and painful. Identify a few experts you trust and follow the tips they have to offer when using auto traders, such as QProfit.

Keep a Record for Tax Purposes

Today regulation is quickly catching up with the cryptocurrency market, especially when it comes to trading. Most tax authorities, such as the IRS, demand that traders declare their trading profits. This isn't possible without keeping a detailed record of your trades. How do you get tax waivers if your trades weren't profitable, yet you don't have the records to show?

Only Invest what you can Afford to Lose

This is the golden rule of investing. Greed can take over where you end up investing more than you can afford to lose. This can be disastrous if things don't go your way. Therefore, always remember to commit only the amounts you are comfortable with.  It's wise to start small and let your portfolio grow itself.

Endorsements and Opinions about QProfit

During our research, we came across numerous rumours of QProfit getting featured on a variety of financial shows and being endorsed by top celebrities. We sought to establish if there was any truth to this matter by reviewing several episodes of shows such as Shark Tank, Dragons Den, and Money Matters. Even though there were numerous mentions of cryptocurrencies and blockchain technology, we couldn't find a particular incident when QProfit appeared on the shows. All such rumours are false. 

We also checked various statements on social media and even interviews of 50 Cent, Bill Gates, and Cristiano Ronaldo, the three names that were highly linked with this auto trader. However, all such claims are false. Even though Gates and 50 Cent have openly discussed cryptocurrencies, we couldn't find any link to QProfit. However, the lack of evidence on this front doesn't take away from what an efficient auto trader the robot is.

Final Thoughts on QProfit: Is it a legit option to make money?

Our research of this robot began with the desire to establish if there was any truth to the claims we found online. After signing up and trading using the robot, and based on online reviews, it appears to be an easy to use robot. From signing up to funding the account and trading, everything is straightforward. Customer support is on hand to help out whenever you get stuck. There is a demo account that offers vital lessons when it comes to setting strategies before leaving the bot to handle the rest of the trading. However, users must learn to gain experience before investing huge amounts of capital as cryptocurrency trading is a risky activity.