Binance released its highly anticipated proof of reserves (PoR) on Friday, providing blockchain-based evidence for the Bitcoin on its books. However, many in the crypto community question Binance’s approach, and aren’t fully convinced that they have the transparency they’re looking for. The Move to Proof of Reserves As Binance explained in its announcement, the exchange’s transparency system will add multiple tokens and networks within the next two weeks. For now, it solely validates its Bitcoin holdings. The company’s initial audit…
Starting a crypto fund is a big step towards improving your investment strategy. In the past, creating a crypto fund was a difficult task that required weeks of complex implementation and development work. Luckily, Shrimpy simplified this process to minutes via the integration of advanced protocols and proprietary features.
How Shrimpy Works
Shrimpy is a next-generation trading bot and social trading platform that allows investors to create and manage their indexes via a simple and intuitive interface. The platform is best known for its security and ease-of-operation. Shrimpy makes it simple for anyone to start a crypto index in minutes. Here’s how you can start your fund today:
The first step to a better financial future is to register your account. The registration process is straightforward and requires only minutes to complete. Once you fill out the required information, you will receive an email that contains a verification email.
Click the link in the email, and it will take you directly to your dashboard. Here, you can access all the most vital features and data you need to make the most of your trades. You will see a Create New Portfolio button. Once you click this, it will take you to the Allocations screen.
Select Your Allocations
This page will allow you to select your portfolio’s allocations. Crypto asset allocation is an investment strategy that aims to balance risk and reward by apportioning a portfolio’s assets to meet your overall investment goals.
Configure Your Index
Once you have your allocations in place, you are ready to configure your index. There are a variety of parameters here to consider. You will want to familiarize yourself with all of the choices provided:
- Weighted – You can decide to balance your portfolio equally or based on market capitalization.
- Number of Assets – Shrimpy allows investors to select up to 30 different assets in their portfolio.
- Minimum Percentage – Shrimpy allows you to assign a minimum weight to your assets. If an asset drops below the required weight, your portfolio will automatically adjust to compensate for the difference.
- Maximum Percentage – You can also limit the percentage an asset holds in your portfolio. This strategy allows you to avoid portfolio centralization during times of major Bitcoin dominance.
- Exclude – You can select assets that you don’t want in your portfolio. These assets will remain blocked until you decide otherwise.
- Exchanges – As part of Shrimpy’s flexible approach to the trading sector, you can select what exchanges to include in your index. Impressively, all you need is your API keys to get the process started.
Trading Features to Help You Out
Shrimpy integrates a variety of crucial functionality that provides investors with more security and streamlines the trading experience. Here are some of the best features to consider when using this next-level trading platform:
Social trading is a new feature to the crypto community, but it has been a long time go-to for stock traders for years. This feature allows you to duplicate other trader’s strategies automatically. This is a huge benefit to anyone new in the sector. They can watch, learn, and earn from traders that have been in the market since its earliest days.
Reversely, if you think you have a trading strategy that works excellently, you can decide to allow Shrimpy users to duplicate your trades. Best of all, Shrimpy will pay you for your services. Currently, you earn $4 for every follower you gain. Of course, if you are the charitable type, you can choose to make your trades public for free. You still earn all that free Karma.
So what can you do if the cryptocurrency you want to trade isn’t on any of the exchanges available? That’s not a problem because Shrimpy allows you to add these digital assets to your portfolio via a cold storage feature. Best of all, Shrimpy will include these assets in its portfolio balance calculations.
Trading Made Simply
Everything about Shrimpy makes trading more simplistic. For example, you can load your funds on any of your linked exchange accounts, and the platform will register the new assets in your portfolio automatically. In this way, you’re always provided the most relevant and up-to-date trading data.
It Doesn’t Get Easier than Shrimpy
It only takes a quick glimpse to see why so many investors migrated over to Shrimpy this year. You can expect this trend to continue as developers plan to expand the platform in the coming months. For now, trading cryptocurrency has never been easier.