Date of publication: 
Time to read: 
Views: With the development of automated trading, crypto trading has become accessible not only to specialists with financial and trading experience. Now novice traders can successfully integrate into the complex world of cryptocurrency transactions.
Let's compare two types of trading with the help of bots: trading with bots on the exchange and trading on the Veles platform.
Veles Overview
Veles is a platform for creating trading bots with an intuitive interface. The company is in the top 5 most popular platforms for algorithmic trading. Its main advantage is the deep immersion of the user in the product. Technical support provides free consultations and live streams for beginners.
The platform's algorithms automatically open and close trading positions, lock in profits and trigger stop losses. Users can create their own trading bots, customize entry and exit parameters, and combine different indicators.
Trading on Veles is suitable for any strategy: from intraday trades to long-term investments. Traders have more than 2000 trading instruments at their disposal, which allows them to diversify their approach to trading with bots.
Users can use backtests to test their trading strategies on past data and analyze profit-to-loss ratios. With billions of candlesticks and hundreds of indicator combinations, users get a complete view of the market to help them make informed trading decisions.
The Veles platform also has ready-made cryptocurrency bots with customizations that have proven to be effective over distance. The user does not need to analyze the market, set up indicators and look for entry points. The algorithms of the bots will cope with this task.
The platform offers a Marketplace with additional services, where you can find exclusive trading indicators that are suitable for any type of trading. In addition, the Marketplace offers educational courses to learn how to trade using robots.
For users who are just beginning to familiarize themselves with the market and its peculiarities, there is Veles Wiki. Here the user can find detailed instructions, starting from the process of creating an API key on the exchange and ending with the parsing of trading indicators.
Veles users have access to consultations on issues related to the platform. Technical support will help to sort out any question, as a beginner and experienced trader.
Overview of Binance trading bots
Of the available bots, only bots with set algorithms are available. You can't select indicators and cross them, you can only place orders.
The bots on the exchange have a feature that distinguishes them from Veles bots. Entries and exits of positions are guided by artificial intelligence.
Artificial intelligence determines, based on its algorithms, where to enter and exit from. This technology fulfills its purpose, but it is far from perfect. For the most part, the exchange offers testing of trades through AI, because this product is not yet finalized, and it makes a lot of mistakes that harm the deposit.
Artificial intelligence relies on copy-trading for the most part. Transactions of profitable traders are analyzed by the virtual machine, and a trading strategy is built on their basis.
The exchange offers several options for selecting a trading machine.
In the range, the user has the choice of coin, the direction of movement, the desired time in the transaction and the desired profit.
Unfortunately, it is not possible to check the settings on the distance through backtests, which means that the trader only has the P&L from each bot.
Conclusion
To summarize, it is safe to say that bots on the Binance exchange do not fit the criterion of a professional tool. These bots are well suited for those who are just beginning to learn algorithmic trading. Sufficiently clear functionality and interface will help to enter the world of cryptocurrency trading, but this tool has no prospects on a long distance.
Veles bot trading allows you to adjust settings, improve your trading strategy through detailed functionality. This is a full-fledged trading tool that requires detailed study and attention of users.
When you store funds on the exchange and do not use them for trading, it does not bring income to the exchange, but on the contrary, it creates costs for the exchange to maintain these funds. For the exchange, the main source of income is trading operations of its clients, not just storing funds.
The main point of exchange bots is to inflate trading turnovers and earn from commissions.
Veles platform takes the main vector on the earnings of users. After all, its income is from the user's profile, not from the trading turnover. At the same time, there are privileges for earning traders - no monthly fee for the platform.
