What do we call a trading platform that combines numerous automated services and tools to provide great trading experiences? Shrimpy.io! Launched in 2018, Shrimpy is a crypto portfolio management app introduced to make trading and investing easy for beginners and experienced traders. Shrimpy is primarily a social trading and automated portfolio management platform with a plethora of diverse features.
One of the primary tools that Shrimpy introduced on its launch is its social trading feature. This feature enables users to copy trade highly-profitable traders and thrive in the market without requiring any technical knowledge. Using Shrimpy’s community-focused social trading environment, you can follow and copy the trading strategies of the best traders in crypto markets.
At Shrimpy, you can also set long-term strategies, automate them and sit back as you wait for profits to flow down into your wallet. If you invest in digital assets, you can track their performance using the portfolio management tools available on the platform. Other features found at the Shrimpy platform include index funds, data analytics, price predictions, and backtesting with historical data.
Statistical Analytics of Shrimpy’s Performance
Because of the great quality of its products and services, Shrimpy has successfully processed more than $2 billion in total trading volume, with more than 300,000 trades being executed every single day.
Further statistics indicate that Shrimpy’s website had almost 680k visitors in April 2021. Their all-time high occurred months earlier when Shrimpy reached nearly 750k users. The numbers prove that many enjoy Shrimpy’s dedicated portfolio management tools.
It’s clear that Shrimpy is working hard to be the top copy trading and automated portfolio management platform for the crypto sector, which is aided with the recent release of two products, the smart order routing tool, and the new trading terminal, to stay ahead of rising competition.
Smart Order Routing
Smart order routing is a process of taking advantage of the best available prices in several market pairs, with the main aim of maximizing incomes. Generally, SOR involves using autonomous algorithms to identify the best-performing route to use when fetching liquidity in financial markets.
SOR systems have been used in the traditional money markets, stock exchanges, and recently, in crypto markets. This initial version succeeds in finding the best route within a market or exchange. Afterward, Shrimpy will release new versions of the smart order routing system, operating in multiple exchanges and liquidity pools.
The SOR tools consider factors like the slippage rates, spread, execution time, limits, and best patterns for trading. The concept of Shrimpy’s SOR functioning identifies the best path that allows one to open a position or execute a trade without suffering losses.
But how does order routing work? For instance, an investor may want to move from USDT to BTC. Smart Order Routing algorithms will identify the best path to fetch liquidity for BTC and purchase it at the best prices.
Trade speed and simplicity are the benefits of these newly introduced algorithms. The integration of these APIs will only require a few lines of code. Therefore, you will make fair trades with the smart order routing tool quickly and impressively user-friendly feature.
The Trading Terminal Introduction
Shrimpy’s second newly released feature is the updated trading terminal.
Trading terminals provide a direct link to the markets, allowing users to place their orders and buy or sell their assets. When traders wish to trade on multiple exchanges from one platform, Shrimpy assists them by offering a simple-to-use trading terminal for top efficiency.
The Shrimpy trading terminal has some of the best features seen both in legacy and crypto markets. The dominant advantage of using Shrimpy is its simple and easy-to-use user interface designed with both beginners and veterans in mind.
The terminal shows historical data (visually shown in the traditional candlestick style) for all cryptocurrencies. For the oldest assets, users can even backtrack to 2013 if they wish. On that account, a diverse and deep set of trading data allows traders to make wiser decisions by being able to take into consideration older price data and market movements.
Moreover, there is a real-time trading endpoint that shows accurate market data as prices move in real-time. Leveraging real-time data can help in making even better trading decisions.
As Shrimpy grows, so do its features and list of supported exchanges. The platform’s developer team never stops improving the crypto portfolio management app, and as a result users have access to extremely intuitive and diverse trading tools. The best aspect behind Shrimpy is the amazing number of exchanges that it supports, which includes Kucoin, Binance, Bittrex, Coinbase, Kraken, Poloniex, Bibox, Gemini, Bittrex global, Binance US, Bitmart, Huobi global, HitBTC, Okex, Bitstamp, and Bitfinex.
We also have to point out that Shrimpy is well-versed in security and that it protects investors against any digital threats by encrypting its API system. Moreover, the storage of the APIs leverages FIPS 140–2 hardware security modules. The platform by itself does not interact with your funds; instead, it only reads the trade data, leaving your funds in the exchanges. There is also a 2FA system instituted for utter account protection.
The new integration of the Smart order routing system will help investors make trades by using the best and most lucrative routes. In addition, the newly integrated trading terminal helps with executing trade orders faster and easier.
Shrimpy Introduces New Features for Easier, Faster Order Placement was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.
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