How to Copy the Best Crypto Traders on Binance Using Shrimpy

Handy Tips / 21.11.2020

Shrimpy is a next-generation trading system that has investors excited. This automated account management platform enables users to copy professional Binance traders in real-time. The platform utilizes a clean UI experience to simplify the entire investment process and gives new investors valuable insight into the market. 

Cross Exchange Monitoring

In the Shrimpy environment, there are group leaders and followers. Leaders are the traders that followers copy their trades. On most social trading platforms, the group leader needs to post their trades in the group to notify people of their maneuvers. Shrimpy provides automation options for these processes.

Amazingly, Shrimpy also allows the leader to share trades from across any of their supported exchanges. One of these exchanges is Binance, the world’s top exchange in terms of volume. Binance provides investors with a huge ecosystem of tokens and coins. 

Benefits of Copying Expert Binance Traders

There are endless reasons why you would want to copy expert crypto traders on Binance. For one, Binance has a huge selection of coins and tokens. It takes a significant investment in time to understand all the projects on the platform at this time.  

Finding a Binance Group Leader

Shrimpy simplifies the leadership selection process via its Social Leaderboard. Here you can see a list of all the leaders available to follow and their relevant stats. You can see how each leader manages their portfolio and what platforms they prefer. Find a Binance trader who exhibits the skills and profits you desire and click on the “Follow Leader” button on their profile’s top right to start copying the leader’s trades. 

The leader’s profile page lets you add them to your chat and speak with them directly. Notably, there are also leader chat rooms available to speak with professionals. The main thing to notice is if your favorite Binance trader has chosen to have Shrimpy automate their trading or use a manual strategy.

If the trader uses a manual strategy, Shrimpy will notify you of every trade, and you will need to duplicate their trades manually. Reversely, if they utilize Shrimpy automation, you will also enjoy full automation. 

Once you find the Binance trader who fits your strict investment criteria, you can select Start to begin the automation system. Importantly, all automation is based on the allocations of your trade leader. Whenever they execute a trade, your portfolio will duplicate it. If you wish to stop automation, you will need to select Stop manually.

How Shrimpy Works

To accomplish this task, Shrimpy’s protocol monitors the leader’s trading activity across all exchanges. The system scans in 1-minute intervals. Each scan checks the leader’s balances for any changes that occurred. This includes trades that occur outside the Shrimpy ecosystem. These changes are immediately sent to each follower. Notably, you will need to also manually copy the new allocations if your leader is set to manual.

Responsive

Shrimpy is so successful because of its unmatched responsiveness. The minute by minute coverage ensures that you don’t miss out on any ROI. In today’s volatile market, this is the only strategy that provides you with up-to-date data. The system also supports features such as portfolio rebalancing to keep your ROI on point.

Shrimpy Eliminates Binance Trade Groups

Until recently, all copy trading platforms were nothing more than social groups. A trader would post their trades for the group to see, and those that wanted to, and paid attention, could copy. Eventually, these groups became paid groups with leaders promising higher rewards. 

Despite their popularity, these groups were plagued with limitations. For one, paid group followers had no way to monitor trades posted in the group. This means that a leader could trade in a different style than normally and expose followers to more risk. The other issue was that these groups required constant monitoring. If you missed a trading post, you probably missed your profits.

Along Came Shrimpy

Shrimpy eliminates the need for trade groups. The platform was among the first to introduce a true portfolio automation system that offered trade copying services. Impressively, Shrimpy offers support for 16 cryptocurrency exchanges with hundreds of different cryptocurrencies.

Shrimpy gained popularity due to multiple factors, including its simple and intuitive interface that displays all the most relevant trading data you need at a glance. You can easily create and manage indexes using Shrimpy as well. Also, the platform allows you to add digital assets to your portfolio via a cold storage feature.

Leaders get More Power

Shrimpy pays leaders for each follower they gain. It also allows leaders to utilize the most advanced trading tools available. Recognizing the growing use of third-party trading bots, Shrimpy allows leaders to utilize these services as well. Users gain access to the true trading practices of their group leader when using Shrimpy.

Shrimpy Makes Binance More Profitable

Using Shrimpy’s system, new traders can see higher ROIs without increasing their risk exposure. Best of all, once you gain enough experience to trade on your own, you can repay the favor and become a leader. You can even choose to donate your trading data to the market to help those who are just starting.

Keenly, Shrimpy pays leaders $4 per follower they gain. Every ten followers is $40 deposited directly into your Shrimpy wallet. You can gain an extra passive income just by letting new traders copy your trades on Shrimpy.

Shrimpy is the New Standard

It’s hard to see why any new trader wouldn’t choose to start their career on Shrimpy. Shrimpy makes investing in Binance easier than ever and helps you to maximize your returns. It’s easy to envision a day very soon where Shrimpy is the norm for Binance traders. For now, interested users can start profiting using Shrimpy today. 

David Hamilton aka DavidtheWriter is a long time Bitcoinist and cryptocurrency journalist. Currently, he has over a thousand articles published on blockchain technology. His expertise and experience makes him one of the most reputable writers in the sector.