About Crypto Profit Trader
Crypto Profit Trader is a newsletter published by Banyan Hill Publishing that discusses strategies for cryptocurrency investing, and includes author Ian King's selections for currencies he believes are poised to make great gains.
It is pitched in a lengthy video called the Crypto Profit Summit where King and another Banyan Hill writer, Jeff Yastine, discuss the immense profits earned by cryptocurrency investors and claim that King has developed an investment strategy that can help anyone earn massive returns. However, the video ultimately never describes the strategy in any detail, and a subscription to the Crypto Profit Trader program is exorbitantly expensive.
Crypto Profit Trader’s Team
The Crypto Profit Summit video features two men, Ian King and Jeff Yastine, but the Profit Trader program appears to be solely the work of King.
The service's pitch video claims that Ian King is a former hedge fund manager and is among the world's most successful cryptocurrency investors. The video includes a clip of him appearing on the Fox Business channel, and his profile on Investopedia confirms these claims and links to several articles he's written.
Jeff Yastine is the editorial director of Banyan Hill Publishing, and publishes the company's Total Wealth Insider newsletter. His biography on the website claims that he has over two decades of investment and journalism experience, but this does not seem to be documented anywhere else online.
Banyan Hill Publishing
Crypto Profit Trader is a product of Banyan Hill Publishing, a service that offers nearly a dozen subscription newsletters written by the company's various investment “gurus,” as well as a few free articles published daily and several live conferences. Its subscription newsletters are all broadly similar, asserting that they contain tips that can earn followers extraordinary returns, and charging thousands of dollars for an annual subscription. Banyan Hill has gained a modest audience on social media, with about 2,000 followers on Facebook, but it has received little coverage from mainstream publications.
Crypto Profit Trader's Technology
Crypto Profit Trader is a subscription newsletter service with several facets, including access to various print and online publications and exclusive alerts from author Ian King when he identifies a strong cryptocurrency investment.
The service's pitch video repeatedly mentions a patent-pending “strategy” for identifying cryptocurrencies that are about to surge in value. However, the video describes it only in vague detail, and it's not clear if it's a computer algorithm or merely King's personal approach to investing.
King's main thesis is that investment opportunities follow a consistent pattern of five phases: “make or break,” when the idea faces public judgment for the first time; “hype,” when excitement creates a surge in value; “facing reality,” when closer scrutiny and new regulations cause value to decline; “lift off,” when the market embraces a technology and there is a period of significant growth; and “sustainability,” when use is widespread and its value has stabilized. King asserts that as of 2018, cryptocurrencies are in the “facing reality” phase, and the market is thus poised to make great gains. This approach applies to both markets in general and specific assets, and the key to successful investing is to identify when assets are in the “facing reality” stage. King offers a few examples to support his theory, such as Amazon and Tesla’s stock prices, but it is not broadly tested and few assets’ values actually follow this pattern.
The other significant aspect of King's investment strategy is called the “PAT” system, which is an acronym for Problem Analysis, Asset Supply Schedule, and Technicals. The strategy determines a cryptocurrency's strength based on whether or not it addresses a real-world problem that could stabilize demand, how large the supply is, and whether there are any legal or technical barriers to the currency's widespread adoption.
While it's understandable that King wouldn't publish the details of any proprietary algorithm, the details he does offer don't suggest he has anything new. King's five-stage cycle is essentially the same as the consulting firm Gartner’s “hype cycle,” and the “PAT” system is simply common sense advice for investors.
A subscription to Crypto Profit Trader costs $2,500 per year. Banyan Hill's website claims that the service has reached its cap of 1,000 subscribers and is no longer offering memberships, since King's time is stretched too thin. However, interested investors are still able to submit their name to a waiting list; it's quite possible that this is a ruse designed to make the product seem more exclusive.
Crypto Profit Trader offers subscribers eight benefits: King's recommendations for buying and selling based on his exclusive strategy, weekly reports, access to a web portal for other subscribers, access to a model portfolio, two of King's books, access to a series of videos, and the phone number for a dedicated customer service team. There is no mention of personal attention or advice from King, and the contents of the books and online materials are not described in detail.
Subscriptions to Crypto Profit Trader, and apparently all Banyan Hill newsletters, include a “$25,000 Guarantee” – subscribers who follow fail to earn $25,000 in their first year will receive another year's subscription for free. However, King states in the pitch video that refunds are not available because he wants subscribers who are willing to “commit.”
The Crypto Profit Trader Verdict
The Crypto Profit Trader newsletter is undeniably a “get-rich-quick” scheme. King and Yastine present a few interesting points in their video, such as the emerging interest in cryptocurrencies by major financial institutions and the fact that regulations could increase the assets' legitimacy, but they ultimately fail to provide any indication that the service is worth the $2,500 subscription.
The ideas that King outlines are stale and common sense, and there are several red flags indicating it would be best to avoid this business; most alarming are the strict no-refunds policy and the lack of clear details about the actual investing strategy. While Crypto Profit Trader is not explicitly a scam – Banyan Hill is a legitimate business – it is almost certainly not worth paying for.
There is undoubtedly money to be made by investing in cryptocurrencies, but investors eager to learn about these assets should do their own careful research, rather than paying an “expert” thousands of dollars to do it for them.