The crypto market is full of newbies and experts trading digital currency with the same aim of becoming successful. But we all know how volatile and risky crypto trading is. Entering the market without proper knowledge can result in complications and loss. But that doesn’t mean you’ll spend half your life learning about cryptocurrency.
You are a novice or an experienced trader, wouldn’t it be nice to have some support? Imagine automating the trading process to bring you more returns. You hardly have to make a decision, isn’t it? And thanks to the algorithm, you’ll risk quotient will be minimized to a great extent.
That’s like getting the best of both worlds, is it not? But how is it possible?
Founded by Michal McCarty and Matthew Wesly back in 2018, Shrimpy makes it possible by allowing you to automate your crypto trading accounts without compromising on data security. Sounds great, right? Shall we read more about Shrimpy and what it does?
What Does Shrimpy Offer?
In short, Shrimpy is a crypto rebalancing tool that offers a simplified way to manage your crypto portfolio. Cryptocurrency is not limited to Bitcoin, though it is the most popular of them all. There are countless altcoins, such as Ethereum, Tron, Ripple, LiteCoin, Bitcoin Cash, and many more.
When you trade multiple crypto coins, it can be overwhelming to manage all accounts at once. Since the crypto market is more complex than the stock market, having support in the form of technology will always be useful.
Shrimpy offers this support by providing a long-term strategy to automate your trading accounts and ensure that you don’t end up with the short end of the stick. It helps improve your performance on the exchanges by making trading decisions on your behalf.
But how does Shrimpy know what to do?
Simple. It automatically copies the moves of expert crypto traders and uses them in this social trading platform. It means that your portfolio will be molded the way the top crypto leaders developed their portfolios. When you follow the best, wouldn’t you get similar results?
Shrimpy also monitors the market conditions and tracks your performance on the crypto exchanges. It assists you in carefully building your portfolio strategy and plans for the long term.
➙ Shrimpy and Security
How safe is it to integrate your crypto accounts with a third-party platform like Shrimpy? In this case, it is completely safe.
- The API key is encrypted and stored using FIPS 140-2-validated hardware. The system has been designed to maintain and protect the confidentiality of your API keys.
- Shrimpy doesn’t move funds from your account. It reads/ tracks your moves and makes the trades on your behalf.
- The company asks users to opt for two-factor authentication to secure the account and keep it safe from unwanted attacks.
Don’t forget to check the company’s blog section for the latest updates from the crypto market.
➙ What is Backtesting ?
Using this wonderful feature of Shrimpy you can easily check out how trading strategies/portfolios performed in the past across multiple exchanges (Historical data available up to 5 years) so that you can create your own custom trading strategy.
➙ Portfolio Management
Portfolio Tracker is an excellent way to keep an eye on your crypto investment. Monitor all your Cryptocurrencies in a single portfolio and track the value of your coins how each one is performing.
Shrimpy Account
You have to fill in the simple details in order to get started with Shrimpy
Select your favourite exchange to connect and enter the API details
Once you connect to any of the Shrimpy exchanges, you can see the below dashboard
Exchanges Supported by Shrimpy
Shrimpy can be seamlessly integrated with the following crypto exchanges. Your trading transactions will be automated so that you won’t ever miss a golden opportunity to add to your crypto pile.
Binance, KuCoin, Bittrex and Bittrex Global, Coinbase Pro, Kraken, Gemini, Poloniex, Bibox, BitMart, Huobi Global, HitBTC, Okex, Bitstamp, and Bitfinex.
The company also provides Shrimpy API for real-time data collection and exchange account management services to trade cryptocurrency.
Shrimpy Pricing (Save 20% on Yearly Plans)
Wondering how much does it cost to use Shrimpy?
In the free plan, you can use the limited features but to explore options like trading, social, and backtest you need to purchase any of the plans from below
1.) Starter – ($15 per month)
- Spot trading
- 15 min balance refresh
- Automate 3 portfolios per exchange account
- Connect 5 exchange accounts
- Portfolio tracking
- Smart trading terminal
- Smart portfolio rebalancing
- Strategy backtesting
- Strategy automation
- Social trading
2. ) Professional – ($63 per month)
All features included that are in starter plan +
- Futures trading (coming soon)
- 5 min balance refresh
- Automate 5 portfolios per exchange account
- Connect 10 exchange accounts
- Spread and slippage safeties
- IP whitelisting
- Advanced index builder
- API Access
3.) Enterprise ($299 per month)
All features included that are in professional plan +
- Dedicated server cluster
- 1 min balance refresh
- Automate 10 portfolios per exchange account
- Connect 25 exchange accounts
- Priority support
Shrimpy Pros & Cons
Pros:-
✔ The tool is simple and easy to understand
✔ Trading on multiple crypto exchanges to manage your crypto
✔ Crypto Rebalancing Tool
✔ Backtesting
✔ Free version for testing
✔ Demo trading account to explore Shrimpy
✔ Affiliate program to earn up to 50% commission if anyone buys through a referral link
✔ Inexpensive
✔ Security
✔ Customer support via live chat and via email – support@shrimpy.io
Cons:-
✘ No crypto signals
✘ No mobile app either android or ios
✘ No Trading terminal
Final Conclusion
Don’t let your apprehensions and worries stop you from trading crypto. The crypto community is growing fast and people from several countries trying their luck by buying, selling, and trading different cryptocurrencies.
Integrate your crypto account with Shrimpy and enjoy the benefits of automated trading if you are looking to automate your crypto portfolio.
It would be great if you can let us know in the comments about the Shrimpy review.
Using any other trading bot apart from Shrimpy, please don’t forget to share your experience with TechPcVipers
