Veles Reviews 2023
Veles is a platform for creating trading bots. Allows you to save your free time by setting up automated trading on Binance, Bybit, OKX, Binance Futures, Gate.io, Huobi. The bots autonomously open trades according to a predefined strategy. The platform is convenient for using long and short strategies, martingale. One of the important advantages of the system - there is no subscription fee. Veles takes a percentage of profitable trades, but not more than $50 per month.
Official website: https://veles.finance
Veles functionality
The site has an intuitive interface, so the user does not need any professional skills to set up and customize the bots. Detailed text and video tutorials are available on all main aspects of work. Ready-made strategy templates from the "take and use" category - a good option for those who feel that they are not yet good at developing trading strategies.
Professionals can fully customize the trading bot platform Veles for themselves with an extensive pool of individual parameters.
Deposits are made in cryptocurrency (BNB Chain, Tron and Polygon).
Fees
Payment for the use of Veles platform bots is a commission of 20% of the profits generated from the trades made by the bot. The commission per calendar month cannot be more than $50.
The fee is debited in USDT, starting from the first profit. As long as the user does not make trades with the help of bots, no fee will be charged.
Registration
Go to the official Veles website and click the "Register" button on the top right. Enter your registration data: e-mail address, password, referral code (if any). E-mail confirmation is not required.
After registration, a personal account will be created where you can pass simple tests and get $10 for them. This bonus cannot be withdrawn, but can be used for trading with a bot (and you can already withdraw the profit).
If you click on the account name in the upper right corner, you can go to the "Notifications" section and set up notifications about trade entries, trade entry management, trade completion or errors, as well as link your Telegram account to your Veles account. Here in the profile section you can also contact the Veles team and manage exchange API keys.
Site Overview
The Veles platform homepage displays the following data about the bots created:
- name;
- status (waiting for a signal, in a deal, launched, stopped);
- exchange;
- deposit;
- leverage;
- indicators;
- trading pairs;
The page provides a full range of options for managing bots, and also allows you to track the occurrence of any errors. If necessary, you can go to the page of a particular bot and edit it. The platform simplifies the work: you don't need to be a professional trader to customize a bot. You are also provided with a showcase of ready-made bots and elaborate strategies from the Veles team.
The platform has a large number of ready-made trading strategies that you can use.
Setting up bots
Trading bot Veles is created by clicking the corresponding button on the main page after registration. It is recommended to set the minimum deposit for the bot in the range from $50 to $100.
Stages of creating a robot:
1. Select a cryptocurrency exchange.
2. Select a previously created API key for the needed exchange or generate a new one. There are instructions for creating keys directly on the exchanges' websites. In brief, on Binance, a verified user can create a key in the "API Management" section and check the "Enable spot and margin trading" and "Enable futures" boxes. The ability to withdraw funds should be disabled. Bind the created key to Veles.Finance by clicking "Add new API key" in the bot creation process. Bybit and OKX users can connect the exchange in one click.
3. Select an algorithm: Long or Short. In the first case, when the price falls, the bot creates buy orders in parts, and when the price rises, it sells everything it bought for a profit. In the second case, when the price rises, the bot creates sell orders, and when the price falls, it buys everything sold cheaper. Such parameters as transaction volumes, order grid density, etc. depend on the choice of algorithm.
4. Set the deposit and set the leverage, as well as the type of margin.
5. Choose a trading pattern: conservative, aggressive or moderate - this determines the ratio between profit and risk. Usually, the larger the expected profit, the higher the risks. When selecting a template, all parameters are filled in automatically, but a skilled user can adjust them. These parameters include the number of orders in the grid, the distance between positions, and the profit at which the cycle of trades ends. Veles sets the optimal settings by default.
6. In the Profit section, you can set up multi-takes, with which a plus position is fixed partially - as the price moves. And stop loss to breakeven, which works in tandem with multi-takes and pulls the stop loss when the first take is reached so that the position does not close in minus in case of a return.
7. In the filters for bot start, you can select an indicator, after receiving the signal of which the bot will enter the deal.
Veles also provides users with the ability to monitor trading indicators using special filters. The platform has already implemented an impressive list of indicators for the best entry into the transaction, currently counts more than 20, including: RSI / CCI / Bollinger Bands / Moving Averages (SMA, EMA), Stochastic, MACD Trend Oscillator, etc., as well as author indicators on subscription.
The platform has implemented TradingView widget integration, it is convenient to use this tool before launching the bot.
To always know about the status of the bot and receive information about successful trades, Veles recommends connecting a Telegram bot in the user's personal cabinet.
Veles has also prepared an impressive statistics section, where you can analyze the work of running bots by the amount of profit, current and completed transactions.
Pros
Wide range of settings and filters for strategy creation
Sets of ready-to-use working strategies
Official partners Binance, Bybit, OKX, Gate.io, Huobi
A lot of educational content
Bonus for passing tests
Simple interface, fast registration and no verification
Notifications in Telegram
Statistics on running bots
No monthly/annual fees
Features for professional traders
Mobile application for Android (we have a version optimized for cell phones)
Cons
A small selection of crypto exchanges (major exchanges are connected)
Few reviews from users
No mobile app
FAQ
What is Veles Finance?
A platform for creating and running trading bots for trading cryptocurrencies on popular exchanges.
Which exchanges do Veles bots work with?
Binance, Bybit, OKX, Gate.io, Huobi
Cost of using bots?
20% of each profitable trade, but no more than $50 per calendar month.
Is identity verification required?
No, email registration is sufficient
Can I create my own strategy?
Yes, you can connect to the TradingView strategy. You can also choose a ready-made template and edit it at your discretion.
What help is there for the newbies?
Videos, extensive wiki section, free consultation.
Is there a Veles mobile app?
Not yet.
Is there a referral program?
Yes. Profit up to 30% from referral commissions, that is up to $15 per month per referral.
Sign up using the link and get $10 from *NAME OF PLATFORM* to test the platform. See the reliability and convenience of the project based on your own!
Conclusion
The Veles trading bot platform is well suited for beginners - it is a combination of a clear and accessible interface, a huge amount of tutorials and ready-made strategy templates. At the same time, professionals will also find it attractive, given its support for popular crypto exchanges, the ability to fine-tune strategies manually, and the lack of subscription fees.
Of course, no platform promises guaranteed profits, but at least if there is no profit, there is no need to pay for using a bot. The platform offers consulting services and a lot of background information.
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