CryptElite investment platform review: Beginner’s friendly guide

CryptElite is an automated crypto investment platform offering the option to invest in cryptocurrency & generate passive income. Let’s have a look at the platform and see how it can benefit its users.
Attention! This article is for informational purposes only and does not contain recommendations or calls to action.

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General

CryptElite is a France-based platform for long-term hands-off crypto investments. It acts as a broker of Binance, i.e. it trades Binance on the user’s behalf. To use the platform, you’ll need a Binance Futures account, but you’ll be the only one who can transfer or withdraw your funds — CryptElite can only open and close deals (more on that later).

The platform automatically applies trading strategies designed by the CryptElite team: deals are opened and closed on your behalf while the performance is constantly monitored by the team and adjusted to the current market situation on the go.

Funds can be added or withdrawn from the managed account at any point without restrictions. Fees are automated and paid directly either from your internal fee wallet or Binance account. CryptElite also offers multi-channel support to all users at any stage of using the platform.

A forewarning for new users

Caution: CryptElite Terms & Conditions and FAQ state that the platform will cancel any trades that the user tries to execute manually while using the platform.
According to the rules, the user commits their USD-M Futures account entirely to the platform for the set term and shall not interfere with the trades made by the platform or attempt to carry out their own. In case of interference on the user’s side, the platform will cancel the trades or even suspend the user’s account.

Experience shows that the platform will likely cancel all pre-existing trades too, so new users must make sure they have no open deals while signing up on CryptElite.

The above is only true for the user’s main Futures account. It’s still possible to trade via your Binance sub-account in parallel with using the platform.
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More on that in the T&C document at the bottom of the main page (available in French only, translation can be officially requested from the team).

Preparing to use CryptElite

To get started on CryptElite, you need a KYC-verified Binance account. Also, you’ll need the desired investment sum available on your Binance USD-M Futures wallet (the platform recommends having at least 1000 USDT on your account).
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To transfer funds to your Futures wallet, go to Wallet -> Account Wallet, and in the overview window, press the Transfer button.
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Then set the direction (e.g. Spot & Margin -> USD-M Futures)
and the amount of the transfer, then confirm.

Next, you’ll need an API Key — a special key allowing the platform to trade on Binance on your behalf.

To get the key, go to the Binance main page, and click on the profile button in the top-right.
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In the drop-down menu, choose “API Management”.
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You’ll be taken to the API dashboard. Enter the name of your key (for example, CryptElite), and click “Create API”. You’ll need to confirm the operation with an SMS code, an email code, and a code from your authenticator app.

Once all is confirmed, you’ll see your API key management window. Here, you can edit permissions for your API keys, as well as add and delete them. To allow the new key to trade on CryptElite, click “Edit restrictions” in the top-right.
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You can now edit permissions and restrictions for the said key.
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In the management window, make sure that “Enable Spot & Margin Trading” is checked. Without it, CrypElite won’t be able to trade.

Also, make sure to leave the “Enable Withdrawals” box unchecked — this way, you’ll be the only one who can withdraw the money (more on that later).
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You can also restrict using this API key to a trusted IP address only. This is recommended if you seek a higher level of security.

Getting started

To start using CryptElite, you’ll first need to sign up. The platform requires you to state your real name, e-mail address, user name, and phone number (optional).
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State your details, create a password, and wait for a confirmation e-mail to finish registration.

Head over to your inbox and click the confirmation button in the letter from CryptElite. You can now continue setting up your profile.
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Before you start using the platform, you need to decide on your fee schedule. The platform offers two ways to pay for its services: Direct withdrawal and Balance top-up.

  • Direct withdrawal

Direct withdrawal enables CrypElite to withdraw the amount of the fees directly from your Binance account.
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This option will require you to enable withdrawals in your API key settings, as well as tick the “Enable reading” and “Enable futures” boxes.
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Also, you’ll need to authorize two of the platform’s IPs in the API settings (IPs provided on the sign-up page). With direct withdrawal, you allow the platform to charge fees from you automatically, without any actions on your side. Do not use the IPs in the screenshot above, as they may change over time.

The platform assures that no amount of funds except that equal to the size of the fees will ever be withdrawn from your Binance wallet.

Direct withdrawals are not compatible with Binance sub-accounts.

  • Balance Top-up

With the top-up option, you manually add funds to your internal CryptElite account and have to manage its balance yourself. You pre-pay your fees for a term (1, 3, 6, or 12 months), the total cost of which is calculated automatically right in the window based on the investment amount you have stated.

You can pay for your fees directly from a bank card or with a crypto transfer from your cryptocurrency wallet or exchange. The platform will notify you in case your fee balance is running low.

The option is compatible with Binance sub-accounts.
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In this review, we’ll be using the top-up option.

Chose your risk profile/performance plan

After you’ve chosen your fee schedule, you now need to choose the performance plan a.k.a. risk profile.
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CryptElite offers 3 risk profiles: Prudent, Dynamic, and Intrepid. Each offers a different performance as well as a different level of portfolio volatility.

The green number below is the estimated profit for the set term, while the number in small print is the maximum expected drawdown — the percentage by which your portfolio may diminish in case of intense trading or high market volatility.

Finishing set-up

Once you’ve chosen your risk profile, the platform will start trading on your behalf. According to the website, “Our next trades” will be executed using your Binance Futures account. No further action is required on the user’s side (except topping up the fee balance, in case this option is chosen).
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You’ll be taken to a dashboard window with an overview of your CryptElite portfolio.

Here, you can see your:

Balance overview:

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  • Current capital — your total Investment amount
  • Countervalue — total amount in the set currency (e.g. Euro)
  • Net Performance and Net Return.

Portfolio breakdown:

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  • Net Profits
  • Exposure — a pie chart with your current asset balance
  • Unrealized profits — the current PNL (Profit & Loss) status of your Futures account.

Below, you can see the info about your performance profile, high-water mark (highest price point in the current market cycle), and your referral status.
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CryptElite offers a 5-tier referral system, where users can get up to 20% of their friends’ commissions, depending on the number of people invited.
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In conclusion

CryptElite is a platform that’s best for those seeking passive income without having to think about trading; the user must be ready to entrust their entire Binance Futures account to the service. The platform acts as an official Binance broker, has a head office, and offers guidance and multi-channel support to its users. However, entrusting a third party with one’s funds isn’t commonly viewed as safe, so CryptElite is best approached with the amount of money one would be ready to lose.

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