veles.finance Scam Check: 10/100 Trust | ScamMinder

Exercise caution when interacting with this website.

The website veles.finance presents itself as a platform for creating trading bots for the cryptocurrency market. It claims to offer various features such as easy bot setting, high performance, risk management, and a referral program. However, several aspects of the website raise red flags: Lack of Transparency: The website lacks transparency regarding the individuals or team behind the platform. Legitimate financial platforms typically provide detailed information about their team, including their experience and qualifications. Unrealistic Profit Claims: The website makes bold claims about user profits and the total deposit of bots. It's important to be cautious of platforms that promise high profits with minimal risk, especially in the volatile cryptocurrency market. Commission Structure: The platform's commission structure, where they take 20% of the profit but not more than $50 per month, is unusual and may not align with standard industry practices. Referral Program: While referral programs are common in various industries, the emphasis on attracting new users through a referral program can sometimes be a characteristic of pyramid or Ponzi schemes. Vague Technical Details: The technical details provided on the website, such as the use of Fast-API and connection to exchanges in a few seconds, lack specificity and may not provide a clear understanding of the platform's operations. Historical Data and Backtesting: The platform's emphasis on historical data and backtesting as a basis for future profits should be approached with caution. Market conditions and dynamics can change, and past performance is not always indicative of future results. Inconsistent and Exaggerated Market Analysis: The website's market analysis, including detailed descriptions of market movements and events, may appear exaggerated and not in line with standard financial analysis. Lack of Regulatory Information: There is no mention of regulatory compliance or oversight, which is a crucial aspect for any platform dealing with financial services, especially in the cryptocurrency space. Overall, the combination of these factors suggests that the veles.finance platform may not be a reliable or trustworthy option for cryptocurrency trading. It's important to conduct thorough research and, if considering using such a platform, to seek independent financial advice and exercise caution."

• Lack of Transparency, Unrealistic Profit Claims, Commission Structure, Referral Program, Vague Technical Details, Historical Data and Backtesting, Inconsistent and Exaggerated Market Analysis, Lack of Regulatory Information