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In this guide, the best places to buy Velas cryptocurrency. Also, a clear view of this promising project that has the potential to become be a rising star in the blockchain space.

In the past decade, cryptocurrencies like Bitcoin and Ethereum rose from nowhere and claimed a serious market share. Also, both cryptocurrencies are based upon blockchain technology that is considered revolutionary and many insiders claim it has a bright future ahead. Moreover, right after the big rise and success of Bitcoin and Ethereum, many new competitors have entered the market.

Today in 2020, the entire blockchain space is covered with entrepreneurs and high tech developers all claiming to be building the ‘better’ Bitcoin or Ethereum. Of course, this is a very good atmosphere, however, with so many developments going on which project will succeed and which one will fade away? This is a very legit question to ask and therefore it’s wise to stay up to date with the latest developments.

In particular, one of the rising stars in this young industry is Velas(VLX). Additionally, in this article, I’ll explain more about their plans, goals, and the best places to buy this promising cryptocurrency.

Short history of Velas Cryptocurrency

Velas made its birth in July 2019, out of a token swap on the Coinpayments cryptocurrency platform. At that time CPS was the native token being on the Coinpayments website; a website offering solutions for merchants and retailers in the cryptocurrency industry. However, owner Alex Alexandrov decided to leave CPS behind and start a brand new and ambitious blockchain project called Velas.

Convert CPS to VLX tokenswap

What is Velas all about?

Founded by CoinPayments CEO Alex Alexandrov, Velas has developed a platform that delivers instant, interoperable transactions, and uninterrupted block formation. Velas stands for Virtual Expanding Learning Autonomous System. In other words, the Velas blockchain uses neural networks optimized by artificial intelligence to enhance its consensus algorithm, which maintains decentralization, stability, and security.

What are the current problems within Blockchain technology?

Although blockchain technology is growing at a rapid pace, most of the projects out there have to deal with the same problems. For example, how to stick to decentralization and also be as efficient as possible? Below is the list that enumerates the common issues blockchain projects have to conquer:

  • A majority of current blockchain projects is centralized
  • Many projects are hard to scale
  • Miners or block producers are not configured to act in the networks best interests
  • Traditional blockchain networks like Bitcoin and Ethereum always run at maximum capacity

The solution of Velas Cryptocurrency

As mentioned above, Velas cryptocurrency is self-learning and self-optimizing blockchain platform. In detail, it stands for secure, interoperable, extremely scalable transactions and smart contracts.

Explicitly, the Velas blockchain uses neural networks optimized by artificial intelligence. All this, to enhance its consensus algorithm, which maintains decentralization, stability, and security. As a result, this blockchain network will be very easy to scale and it can handle up to 33000 TPS.

Why does Velas use Artificial Intelligence?

First of all, blockchain networks exist of huge blocks of data that need to be examined as efficiently as possible. Artificial intelligence can help by analyzing patterns and relationships in the huge datasets.

In particular, artificial intelligence has two main functions in the network:

  • Eliminate irregularities in the blockchain through 80/20 consensus, ensuring the network does what it is supposed to.
  • The AI-optimized network generates the best possible results, reducing the cost of consensus and resulting in scalability beyond 30,000 Tx/sec.

Video of Velas Cryptocurrency

Where to Buy Velas Cryptocurrency

Velas is a cryptocurrency and if you want to acquire some coins, you have to sign-up at a cryptocurrency exchange first. Below is the list with exchanges where you have the best options to succeed in buying Velas(VLX).

The general process of buying cryptocurrency at any exchange

One of the most famous properties of cryptocurrency is that it isn’t tied to physical borders. Also, it’s very easy for anyone in the world to buy a cryptocurrency like Velas. Nowadays, buying crypto instantly can be done with only one limit and that is a working internet connection!

How to do this properly?

The process of buying crypto at a regular exchange could vary, but the basic principles of buying remain the same:

  1. Register at an exchange which sells VLX(*See list above*)
  2. Complete KYC/AML checks if any
  3. Chose the preferred method for a deposit(Wire transfer/credit card)
  4. Make the deposit in any currency or cryptocurrency(USD/EUR/GBP/BTC/ETH etc)
  5. Buy Velas with these funds

Next in this guide, a deep dive into the exchanges that have listed Velas cryptocurrency.

Bittrex Global: Exchange to buy Velas

Bittrex Global Exchange to buy Velas

First of all, Bittrex Global is a Liechtenstein based exchange founded in 2019 and at the heart of Europe’s financial system. Also, the company was founded by Bill Shihara, Richie Lai, and Rami Kawach, all three previously worked at Microsoft.

Bittrex has one main service it provides which is its trading platform. The platform lists a wide variety of currencies and allows for standard spot trading orders to be executed.

The current trading engine seamlessly glues together automated trading features. For instance, stop-loss, good ’til canceled (GTC), an instant buy or sell, with all the standard technical charting tools a trader needs. Also, if you are a European based trader, this is the place to acquire VLX.

For example, if you want to deposit fiat currency like EUR or USD then the only option you have is wire-transfer which unfortunately could last days. Besides, if you already own some Bitcoin and want to buy Velas here, I would advise you to deposit BTC instead because it really speeds up the buying process.

Bittrex fees

A 0.25% flat commission is applied to all trades. Besides, trading fees are slightly higher on Bittrex compared to the industry average. Additionally, there are neither rebates for higher-volume trades nor incentive models for takers and makers.

Velas trading pairs

The following trading pairs for Velas(VLX) are possible for trading on Bittrex:

  • VLX/BTC
  • VLX/USDT

BW.com

BW.com cryptocurrency exchange

BW.com is an exchange that launched in January 2017, which is way before the global cryptocurrency hype. Furthermore, it has very impressive liquidity and is regularly among the top 10 exchanges with respect to 24-hour trading volume.

Presently, the domicile country of this exchange is Australia. Like many other exchanges, BW.com does not accept US-investors on its platform. However, if you’re from the US and you’re looking for the trading platform that offers Velas cryptocurrency, then I have to disappoint you. Don’t worry too much about that, because I also included exchanges in this guide that allow customers from the US.

The trading interface of the platform is pretty straightforward showing the order book or at least part of the order book, a price chart of the chosen cryptocurrency, and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you.

BW.com trading fees

At this cryptocurrency exchange, they don’t divide between takers and makers. Each party to a transaction pays the same fee: 0.20% of the order value. 0.20% is in line with the industry average.

Velas trading pairs

The following trading pairs for Velas(VLX) are possible for trading on BW.com:

  • VLX/BTC
  • VLX/USDT
  • VLX/ETH

Exmo: Exchange to buy Velas

Exchange to Buy Velas

EXMO is a digital asset or cryptocurrency exchange that was founded in 2013. They have offices in Barcelona, Kiev, Moscow, and London. Also, they claim to be the no.1 exchange in Eastern Europe. In addition, they are offering a wide range of deposit and withdrawal options, including debit/credit cards, bank transfers, and even PayPal for withdrawals.

If you are a US customer and want to buy Velas here, I have to disappoint you. Due to strict regulations in the US that don’t allow trading on brokers outside the US you have to find another option here.

Exmo has a very simple but effective interface, which makes it very accessible to first-time investors while keeping all the logistics there for those more in the know. It is broken down into four mains categories, namely: Trade, Trade New, Exchange, and News.

The first sections are where you can monitor the market, compare and contrast prices of currencies on offer and keep track of what’s going on in the crypto world. Before you choose an exchange, try to have a look at the interface of the platform so that you can ascertain that it feels right to you.

Exmo trading fees

First of all, there are minimum fees are charged for each transaction. This is set at 0.2%. Other fees are incurred and these are limited to what is charged by the payment processing companies only.

Trading pairs for Velas

The following trading pairs for Velas(VLX) are possible for trading on Exmo:

  • VLX/BTC

ZBG: Place to buy Velas(VLX)

ZBG exchange, place to buy VLX

ZBG is the official flagship website of ZB Global, whose core team has operated one of the biggest global trading platforms for more than 5 years, and has gained hundreds of engineers and millions of users.

In addition, ZBG was launched by the ZB.COM team in July 2018 but has already managed to overtake the world’s leading exchanges in terms of the average daily trading volume. Also, this is one of the bigger cryptocurrency exchanges from China. Us customers have to take care because this exchange is also outside the US. However, on their website, they don’t particularly state that US customers aren’t allowed.

The online trading engine is pretty straightforward and what the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency, and order history. Also, including the buy and sell-boxes for making transactions on the platform. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you.

ZBG trading fees

In the first place, there is no difference in fees between takers and makers. Moreover, their fee model is instead something called a “flat fee model”. Their flat fee is 0.10%. 0.10% is far below the global industry average (arguably around 0.25%), and also far below the Chinese domestic industry average.

Velas trading pairs

The following trading pairs for Velas(VLX) are possible for trading on ZBG:

  • VLX/BTC
  • VLX/ETH
  • VLX/USDT

ProBit: Place to Buy Velas

Probit cryptocurrency exchange

ProBit is an exchange from the Seychelles that launched in November 2018. In addition, ProBit currently offers trading in 40+ different cryptos. However, according to information on the ProBit-website, 150+ other cryptos are “ready to be listed”. If you compare Probit with other exchanges I would say it’s a decent exchange with a 24h trading volume of roughly $40 million.

US customers have to take care, because this exchange is also outside the US. However, on their website they don’t particularly state that US customers aren’t allowed.

The online trading engine is pretty straightforward and what the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency, and order history. Also, including the buy and sell-boxes for making transactions on the platform. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you.

Probit trading fees

In the first place, there is no difference in fees between takers and makers. Moreover, their fee model is instead something called a “flat fee model”. Their flat fee is 0.20%.

Velas trading pairs

The following trading pairs for Velas(VLX) are possible for trading on Probit:

  • VLX/BTC
  • VLX/USDT

Final Thoughts

Velas(VLX) initially launched back in 2019 is a very young blockchain project that uses artificial intelligence to optimize its a decentralized network. So far, things are going as planned and according to their website, 2020 has a lot more developments in play.

I hope with this guide, I have given you a clear view of what’s in store for the blockchain project as a whole, as well as the best places to buy this promising cryptocurrency. Happy investing!

Disclosure: This post could contain affiliate links. This means I may make a small commission if you make a purchase. This doesn’t cost you any more but it does help me to continue publishing cool and actual content about Bitcoin & Crypto – Thank you for your support!

Jelmer Steenhuis
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Jelmer Steenhuis

Online entrepreneur at uDigitize
Crypto believer and 'Hodler' of Bitcoin since the early days. Spreading the word about this exciting new technology..
Jelmer Steenhuis
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