As for a multitude of reasons, cloned or replicated platforms are becoming increasingly common, and Ethereum Profit is no exception. Customers who sign up for this shady trading platform and confirmed the get-rich-quick scheme will be bombarded with calls from sleazy salespeople who are kept on a tight leash.
Make no mistake: the sheer volume of complaints we’ve received regarding this trading system indicates that we’re dealing with a well-funded and clever enterprise.
Yes, these big advertising budgets result in considerable financial losses for clients because of increased exposure on numerous media channels (where it traps you with fake news commercials or adverts).
The scammers behind this latest hoax are once again greedy (not to mention entirely nameless and unregulated) offshore brokers and affiliate marketers who will go to extreme lengths to deceive and swindle innocent people looking for a legitimate trading app.
If you still want to invest and believe Ethereum Profit is a reputable cryptocurrency trading software, we strongly advise you to read our in-depth Ethereum Profit review, as we exposed these scammers using proof obtained by our research team.
- 1 What to do instead?
- 2 Is Ethereum Profit Legit?
- 3 What Is Ethereum Profit?
- 4 How Ethereum Profit Works
- 5 Features
- 6 Is Ethereum Profit Safe?
- 7 Ethereum Profit Pricing and Fees
- 8 Conclusion
Is Ethereum Profit Legit?
This program, like other scam robots, relies on deception to gain new subscribers. Its primary target market is the less educated and financially desperate novice trader. The company’s website contains numerous stories and testimonials from people who have gone from rags to riches as a result of the robot.
If you’ve been paying attention to our reviews, you’ll see that this is one of the scam robots’ tactics. It’s also worth noting that these robots make no mention of the trading software they use. This is because there are none, and all they are interested in is your money.
As previously stated, the brokers identified as Ethereum Profit partners are all scammers. This indicates that there is no link between this platform and any exchange. As a result, no genuine trading takes place, and the results that traders receive from the phony web trader are entirely false.
The Ethereum Profit platform reports successive losses from the outset until the trader has no money left.
What Is Ethereum Profit?
Ethereum Profit is a cryptocurrency exchange that allows you to purchase popular coins such as Bitcoin, Litecoin, and Ethereum. Although not every coin is offered by Ethereum Profit, the platform does support over 90 distinct types of cryptocurrencies. Meanwhile, dozens of other cryptocurrencies are available all over the world. Ethereum Profit, on the other hand, allows you to exchange the most common types of cryptocurrencies, thus it’s suitable for most users.
In our opinion, Ethereum Profit is using cryptocurrencies as a cover for a Ponzi scam. It provides daily interest on an investment with no other source of income except new investor funds. The company falsely inflates the value of its cryptocurrency by requiring new Ponzi scheme investors to buy their coins before investing.
Ethereum Profit uses an offshore corporation registered using Companies Made Simple to conceal the identities of the scammers.
The platform increases the number of people involved in this Ponzi scheme by establishing a recruiting program that pays recruiters a commission seven levels deep.
How Ethereum Profit Works
Ethereum Profit is a cryptocurrency exchange that allows you to buy, sell, and trade a variety of cryptocurrencies. ACH transfers from a bank account, debit card, credit card payments, and international wire transfers are all options for depositing and withdrawing money.
A bank transfer is the most cost-effective payment method because ACH deposits and withdrawals are free.
Essentially, Ethereum Profit is a cryptocurrency exchange that has a web page and an app for Apple and Android devices. Both choices allow you to purchase cryptocurrency. While the exchange’s regular platform is enough for most customers, it also offers Tradeview, a more complex trading platform.
Buying and selling is a breeze if you’ve already linked a payment method to Ethereum Profit. Here are the methods to acquire cryptocurrency using your Ethereum Profit account:
- In the upper right-hand corner, click the Buy/Sell button.
- Indicate if this is a one-time or recurring purchase.
- Fill in the total cost of your purchase.
- Choose a cryptocurrency to purchase.
- Choose a payment method.
Keep in mind that, according to Ethereum Profit, when you buy with a bank account, the transaction takes three to five business days to complete.
Even though this platform is a fraud, our team found the interface to be very user-friendly while reviewing it. The registration system was also simple.
On both mobile and desktop, Ethereum Profit has the most user-friendly interface. It contains large symbols for the currency you’re using, as well as separate “buy” and “sell” buttons. Anyone who has used an online bank account will be familiar with Ethereum Profit’s user interface.
Ethereum Profit, on the other side, makes sending cryptocurrencies to one another simple. Beginners don’t need to know how addresses work because the user ID is sufficient.
New recipient addresses are generated automatically for each transaction. This is ideal for concealing your address from prying eyes. Only one payment per address will be visible to your internet stalkers. The fact that this happens in the background adds to the overall user experience.
There is no such thing as a “team” of successful online traders, and the people behind this “system” are affiliate marketers collaborating with dodgy offshore brokers. In the Forex and Crypto trading industries, this type of scam is very common, and we expect to see a lot more of it ahead.
You will almost likely be subject to cyberattacks if you sign up with the organization. Since the website is not secure, hackers can steal any data sent through it. Scam trading robots aren’t concerned about the safety of their users.
In the case of Ethereum Profit, there is no information on the website’s proprietor. There were no names or addresses, which is a significant red flag on financial websites.
Essentially, you want to know where your money is going. If you don’t have a name or address, you’re better off handing your money over to a random stranger on the street.
You can test out Ethereum Profit without risking any money by using the demo trading option. This is a fantastic method for newcomers to test the waters with Ethereum Profit and find out if it’s suitable for them.
It’s also necessary for more experienced traders because it allows you to play around with the settings of the Ethereum Profit algorithm. Under different market situations, you can adjust how conservative or aggressive the algorithm is and tune it to try to maximize profits in extremely volatile or highly stable markets. A switch in your account allows you to effortlessly turn on and off demo trading.
Given how easy it is to recreate such information on the internet, it’s not surprising. No genuine platform would engage in such shady activities. As a result, caution is advised, as accepting the terms and conditions of a duplicated private insurance policy is just as bad as duplicating itself. Make sure you’re protected as a trader against such consequences.
On Ethereum Profit, deposit timing is a crucial factor. This is especially true if you buy based on market fluctuations. Assume you learn about Ethereum pricing and decide to purchase it right away. How long will it take to deposit your fiat currency? That depends on the financial services available in your area and who you’re dealing with.
Ethereum Profit withdrawal fees vary based on the withdrawal method you choose.
Each broker has its own set of withdrawal restrictions that govern how you can get money out of your trading account.
This is because each brokerage business will have different withdrawal options, and each payment solution may charge different transfer processing costs, have different processing timeframes, and may charge a currency conversion fee. Such fees are determined by your receiving currency, base currency, and payment provider.
A commission fee may be charged by a broker as a service fee for arranging the purchase and sale of financial assets through your trading account.
The majority of a brokerage’s revenue may come from commission fees charged to registered traders on client transactions.
If the brokerage fulfills, adjusts, or cancels an order on your behalf, you will be paid a brokerage commission.
Furthermore, if your brokerage fails to complete a market order, generally no commission is paid.
Is Ethereum Profit Safe?
There is no information to suggest that the company is operating legally. However, there are regulatory agencies that keep an eye on the actions of companies where members invest and anticipate a percentage return.
The Federal Trade Commission (FTC) and the Financial Conduct Authority (FCA) are two of these authorities that protect investors by supervising the actions of companies that provide financial services and investment possibilities.
One of the reasons for this intense scrutiny is to guarantee that these businesses follow KYC (Know Your Customer) and AML (Anti Money Laundering) standards to protect the interests of investors. Since Ethereum Profit is not registered or licensed with any of these agencies, investing and trading on the platform is done at the risk of the investor.
No one can put a face to the architects of a system that promises such high percentage returns on investment. Shouldn’t they claim credit for their method, which is causing a stir in the banking industry? Ethereum Profit promises investors financial freedom if they invest on the site, but we have no idea who they are.
There is no meaningful information about the founders or developers on the website.
People will have more faith in the system if they know who they are. Transparency is important to look for when investing your hard-earned money anywhere. Investment and mystery don’t mix, and if you must trust someone or invest in a trading platform, you should be fully informed.
Ethereum Profit Pricing and Fees
Unlike other cryptocurrency exchanges, Ethereum Profit charges a single flat fee percentage irrespective of whether your order is a maker or a taker or whether you use the trading or quick buy platforms to place your order.
This simplifies the pricing structure for people who are new to crypto investment, and those who use the quick buy will benefit from industry-low fees if they finance their purchases with ACH rather than credit or debit. Most other exchanges charge a fee for orders submitted through their instant buy platforms.
Ethereum Profit has a lot of negative reviews.
Many of the people who got involved in this scam are kicking themselves for wasting their money and time on the platform. Some people have complained that making money on Ethereum Profit is more difficult than it claimed. Furthermore, if you manage to make any money at all, the scammers are unlikely to pay you.
It is not wise to waste your effort and time on the trading platform because others who have tried it have complained about it. We’re sure you’ve come across several Ethereum Profit reviews. Furthermore, affiliates must remember that in order to get you to invest, they must tell you what you want to hear.
Affiliates will tell you that they have made millions as Ethereum Profit members so that you can invest as well. The truth is that they can’t earn anything without your money.
Here is a list of robots that you can use instead:
- Oil Profit
- Quantum AI
- Bitcoin Era