Developing Cryptocurrency Trading Bots Got Easier

Project Reviews / 26.09.2019

In a recent covered article, we talked about Shrimpy.io. Shrimpy is a platform to simplify the way cryptocurrency traders manage their portfolio. It appeals to the everyday traders by allowing them to systematically automate their strategies and, also most importantly to developers, by allowing them to create innovative products for their customers.

Shrimpy, an industry leader in building amazing solutions, has announced new and improved features for its users. In a blog post on the official website, the Shrimpy team’s CEO, Michael McCarty, announced the new improvements. But before diving deep into what these updates are all about, let us give a recap of Shrimpy.

Shrimpy – Universal Crypto Exchange API

As discussed previously, Shrimpy is a bot-based platform, built on APIs or Application Program Interfaces that allow for connecting multiple cryptocurrency exchanges to make the experience of trading more efficient. The main goal of Shrimpy is to provide a platform that allows its developers and users to form strategies and have them executed based on the pre-set conditions, without the need for continuously rechecking multiple accounts and carrying out the trades.

The Shrimpy application allows anyone to get in and make use of their services either by using the free asset tracking features or the paid portfolio management services. Among the several dozen features, some include connecting multiple exchanges to one platform, rebalancing portfolios, indexing cryptocurrencies and managing multiple portfolios at once. Shrimpy APIs are among the best in the industry. It is considered a favorite among traders and crypto fund managers, as it allows them to efficiently manage the funds bestowed upon them by their customers.

Let us now understand the latest updates.

A Greater Set of Trading Tools

All traders know that Historical data about any asset or instrument is one of the most important variables they need, to make informed decisions on their own. Historical data allows users to look through the past trends of any cryptocurrency, apply market strategies, look for anomalies and use that to make decisions about the future outcome.

This important feature was added to the long list of features provided by Shrimpy to its users and developers and help them make the most out of the platform. The historical data on each asset across multiple exchanges and cumulatively is stored in the Shrimpy servers to be accessed anytime.

“Shrimpy supports one of the most robust systems for historical trade data and order book snapshots. By maintaining websockets with every exchange we support, Shrimpy is able to access the latest trade data and order book changes in real-time.” – Michael McCarty, Shrimpy

Another important advancement explained by the Shrimpy team is the improvement of Order and Trade Data. Order book is the place to look for which orders are currently available on an exchange for a given asset pair at any moment in time. The top of the order book is where one will find the highest bid and lowest ask prices for any given instrument. Every 1 minute, Shrimpy takes a snapshot of all order books that are being actively maintained. These snapshots are then stored in a database to be served through the historical data APIs at a later date.

Trade Data refers to the exact trades being executed for each individual asset pair on any given exchange. Shrimpy helps users get both real-time and historical data about the trades being made for a particular asset. One trade data point is equivalent to exactly one trade on the exchange.

Shrimpy’s Developing Potential

Recently, Shrimpy has seen some major traction towards their platform. Shrimpy makes sure their users automate their everyday trading strategy, and at the same time allows them to redirect their attention towards activities other than wasting hours of their time just to execute their strategies.

For this reason, developers have rushed in scores to develop and create immensely creative and smooth applications or sub-applications. These applications then can be sold or rented to interested customers who like the idea of letting someone trusted manage the platform and keep them in the circle.

Shrimpy is created by an amazing team of world-class developers. With a decade of experience across software, web design and development, the teams aren’t just digital experts, but marketers with a strong knowledge of how the traders of the crypto market are. In simple words, developers who develop on the Shrimpy platform have a steady hand from the Shrimpy team. They are immensely open to any suggestions from the developers, as the team realizes that the developers are the sole entities pushing the platform forward.

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Sudarshan M is a long time crypto-enthusiast. Pulled in by bitcoin early on, it did not take long for Sudarshan to divert all of his academic attention from business studies to blockchain by doing his Masters and eventually pursuing his PhD in the subject.