What you need to start using Veles

To run bots on the Veles platform, you need to prepare a few key things: open an account on the exchange, complete verification, and fund your trading account.

What is a cryptocurrency exchange?

A cryptocurrency exchange is an online platform that allows you to:

• buy and sell digital assets (BTC, ETH, USDT, etc.),
• trade derivative instruments (futures, options).

Veles supports the following exchanges and trading modes:

• Binance — Spot, Futures
• BingX — Futures
• Bitget — Futures
• Bybit — Spot, Futures
• Gate.io — Spot, Futures
• HTX (Huobi) — Spot
• OKX — Spot, Futures

How to choose an exchange

When choosing an exchange, consider the following factors:

1. Regional restrictions. Some countries prohibit trading Futures. Exchanges are required to comply with these rules, so access to instruments may vary.
2. Security. Use platforms with a good reputation, two-factor authentication (2FA), and proven reliability.
3. Commissions. Compare commissions for trading, deposits, and withdrawals. Even a small difference affects your final profit.
4. Customer support. Check the speed and convenience of customer support.
5. Deposit methods. Make sure the exchange offers convenient deposit options (bank cards, P2P, cryptocurrency transfers).

After selecting an exchange, register (usually requiring an email address and password) and complete the verification process. We recommend using our referral link — this gives you bonuses and reduced fees.

KYC procedure

All supported exchanges require KYC (Know Your Customer) verification. This is to protect against fraud and comply with legal requirements.

The KYC process usually includes:

• uploading your passport or other identification document,
• confirming your identity via photo/video selfie,
• sometimes confirming your residential address.

Tip

Verify the documents you will be using in the long term so that you don’t lose access to Futures instruments due to regional restrictions.

Depositing funds into your exchange account

To trade with bots, you need to have funds in your exchange trading account. There are several ways to deposit funds:

• purchasing cryptocurrency directly on the exchange (by bank card, P2P),
• transferring from an external wallet (TrustWallet, MetaMask, Exodus, etc.),
• transferring from another exchange or exchange service.

Important

Cryptocurrency transfers cannot be canceled. Always carefully check:

• the recipient’s address,
• the selected network (for example, USDT ERC20 ≠ USDT TRC20). We recommend making a test transfer of a small amount, especially when sending for the first time.

Some practical tips

• Check which account is being used: Spot, Futures, or Unified Trading Account. Veles bots will not be able to work if the funds are «not there».
• For Futures, always leave a reserve as Maintenance Margin — this reduces the risk of liquidation.
• Check the exchange fees and consider them in the bot: more about fees.

Summary

To start using Veles:

1. Register on a supported exchange.
2. Complete KYC verification.
3. Fund your trading account (USDT is best).
4. Connect your API key in your Veles account.

Now you are ready to create your first trading bot.