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First introduced in 2018, Shrimp was a flawless cryptocurrency trading bot that provided investors with a great automated portfolio management solution.
Automated portfolio management tools are services that allow traders to control, monitor and modify their portfolios in an automated way. This helps save time, improve trading efficiency, and gain access to trading strategies controlled by crypto bots.
At the same time, Shrimpy also supports social commerce. Basically, the feature allows you to copy the trading strategies of the experts and capitalize when the user questions the profits.
Lately, Shrimpy has been introducing new advancements to its system. se include futures trading, DEX trading with decentralized financing (DeFi), and new exchange integrations.
Shrimpy Futures Trading
One of the most popular features that Shrimpy now supports is futures trading.
Futures trading was recently introduced as part of the services supported by the platform. Futures trading involves investors putting their money into a contract to buy an underlying asset on a predetermined date and at a predetermined price. Due to customer demand, the social futures trading option has been developed in recent months.
Leveraged trading in financial markets occurs when investors enter into a contract to control assets, buying only a fraction of the investment they control. refore, a user can spend or invest with less money but control a large sum.
In general, leveraged trading is a dangerous type of investment, as the investor with a low investment may lose more of his investment. Additionally, the combination of the risks associated with leveraged trading with those associated with futures makes leveraged trading a very risky investment class.
Shrimpy also hosts a social trading feature for trading leveraged futures. Futures trading experts will help people with little to no knowledge of leveraged trading. As in other social commerce options, the user must;
- Connect wallet and trade
- Choose a futures trading leader
- Follow the leader and expect profit
Shrimpy now supports DEX trading
DeFi space is among the greatest financial revolutions to have occurred in the 21st century. However, most cryptocurrency-related social trading platforms do not support DEX social trading. Most of the platforms have only focused on the centralized part of the crypto world. Shrimpy also mainly supported centralized exchanges. So why is DEX trading necessary?
Decentralized exchanges deal with Token Defi. Currently, the Defi world is growing and gaining very rapid adoption. However, some investors still do not trust DeFi and others fear that DeFi token trading could lead to scams and losses. However, once a trusted platform like Shrimpy gets involved in DEX trading, the DeFi world will gain more trust.
As such, Shrimpy recently introduced support for multiple wallets, some of them focused on DeFi. One of the most popular wallets for ERC-20 tokens, Metamask, can now be linked to Shrimpy and the investor benefits from DEX trading. metamascara is a wallet that supports the Ethereum network.
Other new Shrimpy-compatible wallets include the Trust and Atomic wallets. Both portfolios have established themselves very well in the world of decentralized finance. introduction and support of DeFi-oriented tokens will help build confidence in decentralization and will also accelerate the adoption of the Defi banking sector.
New Exchange integrated into Shrimpy
With a mission to ensure that they reach the most remote parts of the cryptocurrency market, Shrimpy has continually supplemented the exchanges with excellent services. Initially, the network had around 16 built-in exchange platforms, including Kraken, Binance, Kucoin, Bittrex, Pro Binance US, Poloniex, Coinbase pro, Bittrex global, Gemini, Huobi global, HitBTC, OKEX, Bitmart, Bibox, Bitfinex, and Bitstamp .
Having all these exchanges, Shrimpy was already providing excellent portfolio management services. However, having recently introduced futures trading, it became necessary for the platform to integrate more exchanges. As such, Shrimpy is integrating FTX, Crypto.com, and Bybit.
In the future, the platform will continually integrate more user-friendly trading platforms for the benefit of the user. ir ultimate goal is total comfort for the average user.
Final word
Shrimpy is currently among the most automated portfolio management platforms in the crypto ecosystem. ir extensive exchange and wallet support makes the platform thrive over other trading bots, which is not surprising considering the team continually ensures that they provide more features and capabilities.
Among the most recent updates is the introduction of DeFi support that enables DEX trading, futures trading, more exchanges, and even more offline wallets. As the cryptocurrency market expands, Shrimpy will continue to work hard to ensure that its users enjoy the services they deserve and trade with their favorite exchanges.
costs involved in trading Shrimpy are also very fair for the average user and affordable for people based on their needs. re are three options, beginners, professionals and corporate, from just $ 19 per month to $ 299.
Wayne is a Blockchain enthusiast and cryptocurrency trading expert. Currently, he deals with trending topics in digital currencies.
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