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Shrimpy Review 2023: is the shrimpy exchange a scam?

Shrimpy has gained popularity in the crypto space by flood and offers a wealth of features that are loved by traders of all skill levels. So in this Shrimpy Review, we explore what it is?, how it can help you in your trading and of course, whether Shrimpy is legit or not.



We'll dive right in.



What is Shrimpy?


It was established in 2018 at San Francisco, Shrimpy is a social trading platform that lets you manage and rebalance the entirety of your crypto portfolio in one spot. Originally created as a way to make investing in crypto and asset management easier, Shrimpy is now one of the top social trading platforms in the crypto market.



One of the principal goals of Shrimpy's software is to automate the trading process for cryptos and use automated trading strategies using exchange APIs. This allows traders to organize their digital portfolios faster while minimizing dangers they may face.



Because Shrimpy can also function as a platform for trading socially, the platform makes it easier for traders to connect and be stimulated by others and to do copy trading. In addition, Shrimpy comes as a web-based platform and uses APIs to help execute trading strategies across various platforms in one place.



Team Behind Team Behind


Shrimpy was started as a simple project with a small staff and grew into a bigger company as more individuals realized the benefits it offered.


The first of the original members of 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 with a Bachelor's degree in biomedical engineering as well as Electrical Engineering.


Nishant Nayudu - Head of Infrastructure:A previously employed software engineer within Amazon who has extensive experience in large-scale distributed systems.


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




Specifics of Shrimpy


Shrimpy provides a variety of useful features that allow it to remain among the top Social trading websites. So, here's a few of the most commonly utilized 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. Crypto traders can also create an own cryptocurrency index here with the built-in smart indexing tool. If shrimpy app review do not have it, simply duplicate the portfolios of other traders. Furthermore, you can make use of it to track your portfolio's performance.



Portfolio Automation


With the help from dollar-cost averages and portfolio rebalancing Shrimpy will automatize your trades in order to reduce risk. shrimpy crypto review have the freedom to choose between threshold-based balance or regular rebalancing, as well as try them out to arrive at a better solution.



Social Trading


With the social trading feature of Shrimpy traders are able to copy trades from leading traders and raise their chances of profitability. Traders also can become leading traders and earn rewards as more traders follow their trading strategies.



Shrimpy Fees


On the platform, there are three plans that you can pick from that come with different rates.




Access for free - 1 Portfolio in 1 exchange with daily rebalancing intervals.


Standard Package : $19 Per Month 5 Portfolios within 5 exchanges, with rebalancing options that are customizable. times.


Plus Package : $49 Per Month 10 Portfolios available in 25 exchanges that allow for custom rebalancing times.



Shrimpy-Compatible Cryptocurrency Exchanges


In February 2023, Shrimpy provides support for an exchange of 10 cryptos and 13 wallets. They're



Exchanges



Binance


Binance.us


Bittrex


Bittrex Global


Coinbase


Gate.io


Gemini


Huobi Global


Kraken


KuCoin



Wallets



1inch 2 inches


Coinomi


Ellipal



Guarda


Huobi Wallet


Julwallet


Ledger Live


Metamask


Rainbow


SafePal


Spatium


TokenPocket


Unstoppable



Shrimpy Security


With its high-quality service and positive customer reviews, Shrimpy has a good long track record within the crypto community. So, in order to assure the security of its protocols to protect itself, Shrimpy has taken many safeguards within its infrastructure.



Below are a few ways Shrimpy assures the client's funds and data security.



Account Security


Security measures that meet industry standards such as 2FAor strong encryption using cryptographically encrypted passwords and encrypted transport layer security connections are used here.



API Keys


Using FIPS 140-2 certified secure hardware, all of the API keys are encrypted to ensure you the highest security possible for the data and money you deposit.



Cold Storage


With Shrimpy traders, traders are also able to input the amounts of assets using the Ice Storage feature. This allows the program to take into account the assets you have in the cold storage facility and provide more precise rebalancing adjustments to the portfolio.



IP Whitelisting



By using this feature, traders are able to restrict access to your accounts on exchanges for cryptocurrency, blocking anyone from gaining use of your account.



Shrimpy Customer Support


To contact the Shrimpy team, make use of the chat function on our website or social media channels, or send us an email.



But, with the help of their extensive knowledge information and self help section, you'll be able overcome the majority of issues you'll stumble to when using Shrimpy on your own.



Shrimpy's pros and cons


A thorough understanding of what Shrimpy excels at as well as what it's lacking can help you get a better final solution.


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



Pros









Simple interface that is user-friendly for beginners.


Access to demo accounts as well as backtesting.


Social trading tools that copy strategies of seasoned traders.


Automating and rebalancing your crypto portfolio.


The platform supports 13 wallets as well as 10 exchanges to date.


Dollar-cost averaging strategies.



Cons








Mobile applications are not mobile.


A very limited and free model of the website.


Lack of crypto bot scripting.


Insufficient trading terminals and crypto signals.



Conclusion


The process of managing and rebalancing your portfolio is a difficult task for a trading professional with lots of transactions to look into.


In these situations in such situations, a dedicated profile rebalancing automation tool can be a tremendous help.



This is the place Shrimpy comes in. With shrimpy bot review averaging methods It can help you organize your portfolios easily while simultaneously serving as social trading platform. Additionally, due to its encrypted APIs as well as highly sophisticated security features, you will never need to be concerned about the security of your money. When all things considered, Shrimpy offers a safe and reliable method to manage and balance you portfolios and increase the value of your trading.



FAQs




Is Shrimpy Free?




There is an absolutely free version of Shrimpy for traders to use. With shrimpy review 2023 , traders can manage a single portfolio for any exchange they choose, with daily balance rebalancing. If you sign up to an account with a fee, you are able to manage multiple portfolios on multiple exchanges.





Can You Use A Demo Account With Shrimpy?


Yes. Traders who utilize Shrimpy have the option to join its demo account to test their trades as well as trading strategies.





Is Shrimpy Safe To Use?


Even though it's not restricted, it has a good service record and positive feedback from customers. Furthermore, because of its rigorous security protocols, you won't be worried about the safety of your funds.







Homepage: https://shrimpyreview.wixsite.com/shrimpy-review