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1k Daily Profit review – Is it a scam or not?

The pandemic has resulted in a lot of people losing their jobs. People are therefore looking at ways to bolster up their wallets. For some reason, people think that investing is the right way to go. However, they need to be aware that trading is very similar to gambling. It is not a sure-fire way to win thousands. In trading, you win some, and you lose some. You have to watch that the losses do not become too big.

Many trading platforms are advertising vigorously. Traders need to know that there are scammers out there ready to get their money by fair means or foul.  There are many platforms to assist traders who want to invest in cryptocurrencies. 

Review:
Type:
Min. Deposit:
Demo account:
Automated Trading:
3.7 out of 5 stars (3.7 / 5)
Cryptocurrency trading
$250
Yes
Yes

So what are cryptocurrencies? 

Cryptocurrencies are digital currencies. They are not physical currencies. They are tokens rather than hard cash. They are stored in an encrypted digital wallet. When a user opens the wallet for the first time, they are assigned a private key. This key will allow them to open the wallet and use the contents. If they lose or forget their private key, they will lose the contents of their wallet.

There are many cryptocurrencies, but Bitcoin is probably the most well-known. It is also the original cryptocurrency. In the beginning, one had to mine for the coins. Mining consisted of a series of digital puzzles. On solving the digital puzzles, you will earn a percentage of a bitcoin. The number of possible Bitcoins is 21,000,000, and about 19,000,000 are already in circulation. One bitcoin has a value of more than $60,000.

Note:

Cryptocurrencies are being accepted as legitimate currency by many online stores. When you trade in cryptocurrencies, you can get the cash equivalent deposited into your bank account. 

What is 1k Daily Profit? – The robot presented

If you are interested in trading cryptocurrencies, 1K Daily Profit is a user-friendly environment. Even users who are not computer literate have been able to navigate their way through the pages.  

The designers have developed a robust algorithm that runs the program. The algorithm points to the fact that they are employing tactics that are generally attributed to robotic activity on the web. However, their initial video disclaims that they use a bot (Abbreviation for a web-based robot). This disclaimer is a bit worrying, as are many other items on this website – but I will discuss those later. Once you have entered your details, you will be allocated a robotic trader. This robotic trader will scour the internet to find the best deals for the cryptocurrency you have selected. The choice of cryptocurrencies is broad. It does not only deal with Bitcoin but also many other cryptocurrencies, for example, Ethereum. 

The beginner trader will be helped along the way by the robot. There is no need for the trader to intervene if they are unsure of what to do. You can allow the robot to trade automatically, or you can do manual trading. If you are a beginner, you need to gain knowledge, and perhaps the best way to do it is to run a demo account until you know what you are doing. Remember, you are gambling with your money, so you need to be responsible in your trades.

The introductory video promises large profits per day. But the trader needs to remember that no trading is 100% accurate or even 99.9% accurate. There will be days when profits will be down and may even revert to losses.

Regulation and safety

When you look at the web address, it has the all-important indication that it is a secure, encrypted website. Just before the actual address, you will notice a lock symbol. The web address starts with HTTPS. Both the lock and the s at the end of HTTPS indicate that it is a secure website. The indications imply that it is safe from hackers and other fraudulent beings. They assure you that your data will be encrypted and held safe. You are encouraged to create a strong password so that your account is protected. But this last should be common knowledge as most sites are insisting on strong passwords.

Apart from the robotic traders, you can also get help from brokers who will assist you whenever you need help. It is always assuring to be able to talk to a person in this automated world of ours. Gone are the days when you could meet with a bank manager, for example. Nowadays, you have to be a very important person to break through many managers’ and CEOs’ doors. 

The platform claims to safeguard your investments by employing these licensed, trustworthy brokers to oversee the robotic brokers. 

Two concerns that I have:

  • My virus checker warned me that the site was unsafe and should be blocked
  • !k in 1 day is another almost identical site with the same developer, John Becker

How does it work? – The trading platform

You can work on the platform on your computer, tablet, or cell phone. The versatility means that you can trade wherever you are, at a ball game, on the beach, in a restaurant, the options are endless. The trading platform is user-friendly and helps you move from one choice to the next. The first screen is similar to most other trading platforms. 

The program uses an automated system, allowing bots to make decisions for you. If you are not happy with an automated system you can choose to have more or complete control; of your account.

The platform is designed to make cryptocurrency trading effortless for experienced or beginner traders. The algorithm helps beginners understand how to trade cryptocurrencies. The platform includes a demo account choice. It is suggested that beginners use this account until they feel confident to work on their own or with automated robots. Knowledgeable trading on any platform is a must if you wish to succeed. 

Open your free account

It is easy to open an account with 1K Daily Profit. When you enter the website, there is an entry form on your right on a computer screen (Under the logo on a cell phone screen). The form requests you to give your name, email address, country, and your phone number. A suggested password is given. The next thing to happen is verification. The verification could be done by e-mail, but they also have your phone number. There has been much criticism at the speed the employees of 1K Daily Profit react. Some subscribers say they have barely completed the form before they are contacted by fast-talking, pressurized salesmen.

Signing up is free. Once you have given your information, you need to wait for your account to be verified as explained above. An email will be sent to you. The e-mail leads you to the next step in the signing-in process. 

The next step is to make a deposit. The smallest amount you can deposit is $250. They continually say that $250 is not a lot of money. It is so small, we are told, that even people who are battling will be able to utilize their accounts and reap huge rewards. 

Some of the benefits offered to registered traders are:

  • The ability to let the bot do your auto trading
  • Support is available around the clock every day of the week
  • You will get an exclusive newsletter and
  • You can access the VIP area of the website.

Test it with a demo account

Trading can be difficult, it can be confusing to beginners. It does not lead to huge riches with no effort. If this is your first foray into trading, it would be best to work with a demo account for a few weeks. The demo account on 1K Daly Profit will help you see if trading cryptocurrencies is all that it is cracked up to be. A demo account will have you trading in a seemingly real-life situation without risking any of your hard-earned cash. 

When you have decided that your practice has made you a perfect trader, you can commence with real-time trading. Some people will advise you to dispense with the demo account as the bits take care of everything, but this is unrealistic. You will be trading with your cash, and you need to know how to trade responsibly.

Deposit money

After your account has been verified, you can explore the 1K Daily Profit website. You cannot do any transactions until you have deposited $250 into your account. The account requires you to enter your details so that your profits have a place to go when you choose to withdraw them. The minimum deposit is $250, although you can deposit more if you like. 

If you make a profit, you can choose to reinvest it, which will bolster up the amount in your account. 

Withdraw money

Once you have made a profit, you can withdraw the money into your registered banking details. The money should be available in your bank within twenty-four hours. You are encouraged to make a habit of withdrawing your profits, but of course, it is up to you whether you choose to withdraw the money or reinvest it.

Fees

The website and all substantiating material state that they will not charge you fees. No charge seems a bit unrealistic. I do not know how they are managing a business with no incoming money. Most other similar sites acknowledge that the bot will extract a tiny percentage from your profitable transactions. In this case, these apps need to make sure that you profit more than you lose. 

Support

They advertise that they offer support twenty-four hours a day, seven days a week. Many customers complain that there is not much in the line of customer support. They also complain that they receive many uninitiated calls. During these calls, the agent attempts to get them to bolster up their accounts.

Conclusion: High risk investment

There are so many conflicting reports about this site. Most are exposing this as a scam. My red light came when my virus checker warned me that it was an unsafe account. For a virus checker to kick in, there must have been enough negative reports to make it an addition to the virus checker’s database. 

The photographs of the people on the site are proven to be Shutterstock pictures. The people on the videos can be traced to a website that advertises actors for hire. If this is a legitimate website, why have they not used the actual people who give the reviews? 

There are a few more anomalies:

  • When searching for 1K Daily Profit, I found a link to another website 1K 1Day. The founder of each site is John Becker, but each has a different Shutterstock photo of him.
  • The promotional video states that the viewer has been “exclusively selected” to view it. It also states that the site will be no longer be available the next day. It is available on YouTube for anyone to see, and it has not been taken down – ever.
  • The use of scare tactics to cause viewers to act impulsively like:
    • The offer will close soon.
    • Only you have been selected.
    • There are a limited number of spots available.

There are too many complaints from legitimate traders. The main complaint is that as soon as your phone number registers, you are plagued by hard sellers trying to get you to increase your investment. One of the traders observed that the names used as satisfied customers do not fit with their supposed nationality. Whether or not this is a scam is left to you to decide. 

Frequently asked questions:

What is an auto trading bot?

It is a computer program that seeks out financial trades in your selected cryptocurrency and enters the buy/sell commands on your behalf.

What amount do I need to start trading?

A minimum deposit of $250 is all that is needed to get you active on the trading platform. 

Is the site user-friendly?

Yes, it is user-friendly as it helps you step by step to pay your investment amount.

1k Daily Profit

1k Daily Profit is an automated cryptocurrency trading software.

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Summary:

The reviews of 1k Daily Profit seem to show that the trading software company is a scam.

3.7

Last Updated on March 6, 2022 by Andre Witzel