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Shrimpy Review 2023: is the shrimpy exchange legitimate?

Shrimpy has become a crypto-currency flood and offers a wealth of features that are loved by traders of all skill levels. In this Shrimpy Review, we explore the features it offers, how it can help you in your trading, and the most important thing is whether Shrimpy is legit or not.



So let's dive in.



What exactly is Shrimpy?


Established in the year 2018 located in San Francisco, Shrimpy is an exchange for social trading that lets you control and balance your entire crypto portfolio in one place. Initially, it was developed as a method to make investing in crypto and asset management easier, Shrimpy became one of the top social trading platforms within the crypto sector.



One of the main goals of Shrimpy is to automate the trading process for cryptos and to implement automated trading strategies through exchange APIs. This lets traders control their portfolios of crypto much less hassle-free while also reducing potential risks they encounter.



Since Shrimpy serves as an exchange for social trade, it makes it simpler for traders to share information and to be attracted by the other trader as well as copy trading. Additionally, shrimpy app review comes as a web-based platform , and makes use APIs to enable traders to implement trading strategies across multiple platforms from one location.



Team Behind Team Behind


Shrimpy began as a little project that was run by a few employees and later grew into a larger enterprise as more were aware of how it could be used.


The original members who formed the Shrimpy are,



Michael McCarty - Co-founder and CEO:A former software engineer at Samsung and Boeing with a Bachelor's Degree in Bioengineering.


Matthew Wesly - Co-founder and CTO:A former software engineer at KMC Systems and MedAcuity Software having a Bachelor's degree biomedical engineering as well as Electrical Engineering.


Nishant Nayudu Head of InfrastructureA past software engineer working at Amazon with experience in large-scale distributed systems.


Sumaya Mehzabin User Interface Designer:A ex-UI/UX Designer from Moxtra and is in charge of handling the creative direction of Shrimpy.




What's the best part about Shrimpy


Shrimpy has many great features that allow it to stay one of the best services for trading socially. In this article, we will highlight few of the most widely used features.




Portfolio Management


Shrimpy is an excellent portfolio management platform that uses automation and basic risk management strategies of rebalancing and dollar-cost-averaging to manage portfolio risk. It also lets crypto traders create the crypto-related index of their choice with the built-in smart indexing tool. In case not, simply copy the portfolios of other traders. Also, you can use it to keep track of your portfolio's performance.



Portfolio Automation


With the aid of dollar-cost Averaging and portfolio rebalancing, Shrimpy automatizes your trades to reduce risk. Traders can choose between threshold the rebalancing process or periodic and reverse-test the options to determine the most suitable solution.



Social Trading


With the social trading feature in Shrimpy, traders can copy trades from lead traders, and increase their chances of making money. Traders can also be lead traders and gain advantages as more traders adopt their trading strategies.



Shrimpy Fees


If you use the platform, there are three packages available to select from. shrimpy io review are priced differently.




No-cost Account - 1 Portfolio in 1 exchange with daily rebalancing periods.


Standard Package , $19 Per Month 5 Portfolios on 5 exchanges with customizable rebalancing intervals.


Plus Plan $49 per Month - 10 Portfolios in 25 exchanges that allow for custom rebalancing times.



Shrimpy-Compatible Cryptocurrency Exchanges


From February 2023, Shrimpy has support for 10 crypto exchanges and 13 wallets. These include,



Exchanges



Binance


Binance.us


Bittrex


Bittrex Global


Coinbase


Gate.io


Gemini


Huobi Global


Kraken


KuCoin



Wallets



1inch The Wallet


Coinomi


Ellipal


Guarda


Huobi Wallet


Julwallet


Ledger Live


Metamask


Rainbow


SafePal


Spatium


TokenPocket


Unstoppable




Shrimpy Security


With its premium service and good reviews from customers, Shrimpy has a good long-standing history within the crypto community. So, in order to ensure the safety of it's protocols for security, Shrimpy has taken many security measures within its infrastructure.



Below are a few ways Shrimpy guarantees client funds and data security.



Account Security


Industry-wide standards for security measures such as 2FA, strong cryptographically hashed passwords, and secure transport layer connections are used here.



API Keys


Using FIPS 140-2 certified technology, hardware-based security components, and all of the API keys are secured to provide the greatest security possible for your personal information and money.



Cold Storage


With Shrimpy traders, traders are also able to input the asset value using its The Cold Storage feature. This allows the application to evaluate your assets within the cold storage unit and perform more precise rebalancing adjustments to the portfolio.



IP Whitelisting




Through this feature, users are able limit access to their cryptocurrency exchange account. This will prevent anyone from gaining or unauthorized access.



Shrimpy Customer Support


To get in touch with the team of the Shrimpy, you can use the online chat feature or social media channels, or emails.



With the help of their extensive knowledge of the self-help section and their extensive knowledge base, you will be able to tackle the majority of the common problems you may come across while using Shrimpy on your own.



Shrimpy's pros and cons


Understanding what Shrimpy excels in and where it falls short will allow you to find a better decision.


Therefore, here's a this list of pros and cons of the platform.



Pros








The interface is simple to use for beginners.


The demo accounts are available to use and for backtesting.


Social trading tools allow you to copy strategies from established traders.


Rebalancing and automation of crypto portfolios.


Supports 10 exchanges and 13 wallets in the current version.


Dollar-cost averaging strategies.



Cons








The absence of a mobile app.


A very limited , free version of the platform.


There is no crypto bot scripting.


There is no trading terminal or crypto signals.



Conclusion


The process of managing and rebalancing your portfolio is a difficult process if your are a high-volume trader who has a variety of transactions to consider.


So in such scenarios an appropriate profile rebalancing software can be a great help.



This is why Shrimpy comes in. With shrimpy api review to average cost which can help you effortlessly manage your portfolios and also acting as an exchange for social trading. Additionally, due to its encrypted APIs and extremely sophisticated safety measures, you'll no longer need to be concerned about the security of your money. With all things considered, Shrimpy is a legit way to balance and manage your portfolios as well as improve your trading.



FAQs



Is Shrimpy Free?




Yes, there is a no-cost version of Shrimpy that traders can use. It lets traders manage a single portfolio for any exchange they choose, with daily periodic rebalancing. After shrimpy trading bot review have signed up for an account with a fee, you will be able to manage multiple portfolios for different exchanges.





Can You Make Use of A Demo Account that has Shrimpy?


Yes. shrimpy app review who utilize Shrimpy have the option to use its demo account in order to practice their trades. trading strategies.





Is Shrimpy Safe To Use?


While it's not restricted, it has a good service record and good customer feedback. Furthermore, due to its stringent security protocols, you will not need to worry about the security of your money.







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