What is going on here?
What is the minimum deposit amount for the operation of the Veles bot?
How much does it cost to use a bot?
How much will I earn here?
How do I withdraw my earned funds?
What other risks are there?
Where to begin?
What are bot filters?
What % of the profit is better to put?
Is BNB required to pay the commission?
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🔸 What is going on here?
Veles is a platform for creating bots for trading on cryptocurrency exchanges. Our bots can connect either to a spot or futures trading account. On the Spot the bot will trade coins, and on Futures bot will trade contracts for coins .
We recommend all beginners to start with Spot trading, it is easier to understand and safer.
You can read more here:
https://help.veles.finance/en/introduction-to-veles/
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🔸 What is the minimum deposit amount for the operation of the Veles bot?
In other words, how much you need to have on the exchange.
First, let’s define the terms.
As a “Balance” we understand total amount on the trading account. The bot, properly connected to the trading account, reads the amount of available funds there (“Transferable amount”) and shows it to you in the “BALANCE” field.
Important! Do not confuse the balance on the exchange and the balance in the Veles service – these are two different wallets! The funds for trading should be sent to the exchange!
From this total balance, you then calculate a small share and set it to your bot as a “Deposit” – and with these funds the bot works, distributing them to orders within one deal. When trading futures, you can use leverage – a loan from the exchange that is several times higher than your own funds. Do not set the leverage above “3” in the first months while you are studying. Trading with leverage significantly increases the risk of losses.
Each exchange has its own requirements for the minimum order volume for each asset. The exchange publishes these requirements in its documentation, in the section “Trading Rules”, and they are regularly updated.
On futures, you can set up a high-risk bot with high leverage on your own deposit starting from 1 USDT. But on a futures trading account, you usually need to keep a reserve of free funds to support a position several times higher than the bot’s deposit, otherwise the exchange will liquidate the position even with a small price movement in an unfavorable direction. That is, the total amount on the exchange’s trading account should be several times higher than the bot’s deposit.
On the spot, you can set up a DCA bot for inexpensive coins for a deposit of 10 USDT, and a single-order one – even for a smaller amount. On the spot, you only need this exact amount in your account, since you need no supporting margin. But you will also need to purchase the traded coin itself (for 1-3 USDT) to pay the exchange commission.
Our showcase presents ready-made bots with a deposit of 30 USDT and above.
Recommendations for calculating the ratio of the balance on the exchange and the deposit allocated to the bot, we described in the article:
https://help.veles.finance/en/how-to-reduce-the-risks-of-leveraged-futures-trading/
Abother article about deposit:
https://help.veles.finance/en/what-is-the-minimum-deposit-amount-for-veles-bot-operation/
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🔸 How much does it cost to use a bot?
After registering in the service, you are provided with free training settings for bots, which you can copy and save, test on the simulator, change at will and then launch on the exchange. When a bot on the exchange closes a deal, Veles calculates 20% of the Gross profit (that is, of the amount received before deducting exchange commissions) and deducts it from the balance in your personal account (not from the exchange):
https://veles.finance/cabinet/account/balance
If the deal ended with a loss, or with an error, or the deal was canceled, Veles does not receive anything.
When registering in our service for completing tasks
https://veles.finance/cabinet/challenges
Veles gives every user up to 5 USDT as a reward to the balance in your personal account. They cannot be withdrawn, but they will be enough to test the bot.
The sum of service commissions has an upper limit and is a maximum of 50 USDT for Futures trading + 50 USDT for Spot trading in a calendar month, when the amount is reached, no more commission will be taken. How much has already been payed this month is shown by special commission counters in your personal cabinet – one counts the commission for trading Futures, the second counts the commission for Spot trading.
Both commission counters are reset on the 1st day of each month (UTC), and the commission is charged again.
When zero occurs on the balance in the service, the bot will not start (that is, it will miss entry points to deal).
https://help.veles.finance/en/how-to-top-up-veles-balance/
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🔸 How much will I earn here?
Trading on cryptocurrency exchanges (and indeed on exchanges in general) is a high-risk activity. Since our users set up their own bots, the financial result depends on them. We provide a tool, information support, training settings and a tool to safely test your strategies.
Trading with an average risk on a spot can bring in from 5% per month.
The profit percentage is higher on futures, but so is the risk of loss. In addition, you need to count the profit not from the bot’s deposit, but from the entire amount that is needed for safe operation – that is, the deposit plus the required amount of free margin on the trading account.
https://help.veles.finance/en/how-to-reduce-the-risks-of-leveraged-futures-trading/
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🔸 How do I withdraw my earned funds?
The balance in the Veles account and the balance on the exchange are two different, separate wallets. The bot trades your funds on an exchange trading account, and all profits and losses from trading are reflected there.
Withdrawal of funds from the exchange balance (as well as replenishment) is made only by the user, through the interface of the exchange itself.
The balance in the Veles account is only for payments of bot commissions for trading and subscriptions. If necessary (if replenished by mistake), you can request a withdrawal of funds from the balance in the Veles account:
https://help.veles.finance/en/refund-policy/
Bonus funds received for challenges are not subject to withdrawal, they can only be spent on testing the bot.
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🔸 What other risks are there?
Field of cryptocurrencies attracts a huge number of scammers. You will receive interesting offers of quick earnings, education, promotions in fake channels, in personal messages from fake “Veles Support” . Do not rush to pay for anything or transfer your funds anywhere, no matter how hard they persuade you! Collect information, ask in the Community, write to Support by email.
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🔸 Where to begin?
Carefully study the recommendations for safe trading:
https://help.veles.finance/en/category/trading-strategies-and-risks/
Before creating a bot, you must have a valid account on one of the supported exchanges (opened, topped up and confirmed):
https://veles.finance/en?lang=en
Articles about connecting the exchanges are here:
https://help.veles.finance/en/?s=registration
Then you need to create a connection to the exchange from your Veles Personal Cabinet:
https://veles.finance/cabinet/account/api
using instructions from section:
https://help.veles.finance/en/category/how-to-work-with-exchange/
Then you can take any ready-made bot – from the showcase or from a selection on the blog
https://veles.finance/en/blog/
For beginners we recommend to choose ready-made spot bots, or modify futures bots to run them on the spot.
Spot trading has no risk of liquidation losses, which is very important for beginners.
Attention! Before launching any bot on the exchange (even purchased, even from a showcase), it is recommended to run an “Analysis” (backtest) for it. This is a simulation of trading on historical data, a free and secure check that allows you to determine errors and the likely result of your trade in advance.
You can read about the basics of bot mechanics here in the Wiki:
https://help.veles.finance/en/how-to-create-and-edit-a-bot-full-list-of-bot-settings/
or watch videos in the Veles Academy:
https://veles.finance/en/academy
and on our YouTube channel
https://www.youtube.com/@velesfinanceen/videos
Help is also available directly in the Bot Editor – use the “i”, “?” buttons, and in the “Help” sidebar.
You can ask your questions about setting up the bot and the results of backtests in the Community or directly to Support.
Please follow the recommendations from the pinned message in the Community Support chat.
And in general, it is recommended to read this chat — it helps to avoid typical mistakes.
In addition, free consultations are available to you. Prepare a list of questions and sign up for a conversation with a specialist:
https://calendly.com/velestechnicalsupport/15min
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🔸 What are bot filters?
Filters or indicators are parameters by which you can set the conditions for opening or closing a deal. There are many indicators in technical analysis, and new ones appear periodically. Each indicator is calculated according to its own formula based on historical data (price charts for a coin, or for another traded asset taken from the exchange). The set of available filters on the platform Veles is constantly expanding.
For more information about indicators please read this article.
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🔸 What % of the profit is better to put?
We recommend setting the profit in the range of 0.5 – 1%, then the bot will quickly exit trades and look for a new entry point. We do not recommend less – the profit will not cover the exchange’s commission for the execution of orders. Increased values can be considered, and it is even recommended to check all your hypotheses with our Analysis tool (backtest) to find out how this setting would have worked in the past.
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🔸 Is BNB required to pay the commission?
It is not necessary. BNB is a Binance exchange coin, it gives a discount on Binance commissions, but you can trade without it.
We recommend you buying and holding a BNB coin only on Binance in the amount of $10. Veles will work and bring you profit.
