Shrimpy is a cryptocurrency social trading platform that allows you to automate your trades. This significantly improves the way you manage your portfolio. Social trading platforms, such as this one, make it easy to trade assets by allowing even newbies to copy the trading of more experienced traders and minimize their losses while learning on the job.
In this Shrimpy review, we will consider the features that make it unique and the general upsides and downsides of using the platform for social trading.
Shrimpy Review: Platform Overview
Shrimpy is one of the leading social trading platforms in the world. Social trading includes portfolio management, which means traders like Shrimpy help to manage users’ funds. Crypto traders can put their portfolio on autopilot and earn with this platform without having to worry about market fluctuations and other factors that typical investors should have in mind.
Shrimpy so far has a volume of over $2 billion and more than 300,000 trades per day. It works with different top crypto exchanges, including Binance, Coinbase Pro, Gemini, Kraken, KuCoin, OkEx, Koinly, and others. It is worth noting that each trading platform can be considered the best cryptocurrency exchange. Therefore, working with such reputable exchanges shows the credibility of the platform for the services it offers.
How Does Shrimpy Work?
The platform was built with a universal crypto exchange API. This means that it is able to integrate with any crypto exchange no matter the design. Users of integrated exchanges as listed above can seamlessly connect Shrimpy to any number of their exchange accounts. They can then automate their trading strategies, thereby boosting performance and cutting their long-term risks significantly.
By connecting their exchange accounts, they can also copy top traders in the space. This is also a great way to cut risks and improve profits. Although this means that they lose when the trader they copy loses, there are higher chances of succeeding than when newbies venture into trading on their own very early on.
There is a large leaderboard, with a long list of top traders as leaders that new ones can follow. They trade based on different strategies, which means there will always be traders with suitable strategies for everyone.
Not just that, there is a growing community of traders with varying levels of skills. By signing up, new traders can be a part of this community and learn from the experiences of others to improve their trading knowledge and grow along.
Shrimpy Review: Main Features
There are many features on Shrimpy. However, we will only cover the following few in this Shrimpy review.
Security
Shrimpy boasts of having the security of its users as a topmost priority. API keys are securely encrypted and stored FIPS 140-2 validated hardware security modules. This ensures that the security and confidentiality of exchange API keys are preserved. They also have a 2-Factor Authentication that they encourage users to activate in order to further ensure that funds are safe.
Pricing
Shrimpy offers pricing options to ensure everyone is included. There are basically two plans, the “HODLER” and the “PROFESSIONAL” plans. The first is free of charge with no fees whatsoever. The PROFESSIONAL has three billing plans; monthly, 6 months, and annual. The range of services is, of course, different, and those on the PROFESSIONAL plan enjoy a lot more features than the HODLER plan.
Affiliate Program
Shrimpy has a referral program for users, including the HODLERS. They will earn a 50% commission on their referrals’ payments on the platform for the first three months. This is a way to reward its customers for their support, and everyone can benefit from it.
Experienced traders can also sign up to become social leaders. They just need to sign up and choose to become social leaders in the leader tab. Then, they can start trading with any strategy and build a group of followers. Afterwards, they will get paid $4 per month for each follower that is copying their trading patterns.
Shrimpy Review: Verdict
This Shrimpy review shows that the platform is quite a modern place for social trading that allows new traders to leverage the experiences of other traders to make the most of their investments and trades. The diverse community gives them the best opportunities to grow, and so this is a good place for beginner traders to start their journey.
Pros:
- An inclusive platform: Shrimpy provides the opportunity for everyone to become a better trader. This is made possible through the free plan, which anyone can use to get on board and experiment with social trading.
- Growth opportunities: New traders can use Shrimpy to grow fast by observing and following their trading plans and strategies.
- Reward for everyone: Everyone on Shrimpy gets rewarded. The leaders are rewarded for their followers, while followers get rewarded generously for bringing new users to the platform.
- High security: Shrimpy takes the security of its users very seriously, which is why it has strong protection for its API and those of its users.
Cons:
- The free HODLER plan has very limited access to features compared to the paid PROFESSIONAL plan.
