Crypto Social Trading: Become a Successful Influencer on Shr...
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Crypto Social Trading: Become a Successful Influencer on Shrimpy

Shrimpy.io is one of the fastest rising tools in the cryptocurrency community. It’s simple, and innovative features offer its users great support in the portfolio rebalancing arena. As more people are looking for efficient and profitable ways to get involved with cryptocurrency, Shrimpy is in the frontline.

Launched in 2018, the Shrimpy platform was built to provide a safe way to automate crypto trades through custom index fund creation and portfolio rebalancing on a web-based application. It’s not the only trading bot available in the market providing the services, but it does stand out from the rest. Thanks to its effectiveness and ease of use, the platform has gained popularity among new and seasoned day traders alike.

The basic premise of social trading is observing the trading behaviors of expert traders and following their investment strategies. On Shrimpy, users can follow successful traders and even chat with them directly regarding their portfolios. As a trading bot, it has taken copy trading to a new level, and this article highlights just how much.

Follow Allocations

There are two main categories of account owners on the platform;

  1. Followers
  2. Leaders

The process of opening an account is fairly easy. The web-based application which executes Shrimpy provides a simple standard procedure. Clicking in sign up and filling in the necessary data with the mandatory email confirmation is all there is to it.

A free account on Shrimpy allows the user to benefit from most of the features available. However, more lucrative social aspects can only be accessed through premium accounts.

Its following allocation is similar to the way you can follow somebody on social media. Shrimpy allows you to follow the allocations of your favorite crypto expert. This is to give you a look into their strategy and implement the ones you find lucrative. Therefore, giving yourself the same portfolio as your leader of choice and follow their future trade actions. On the platform, you’re just one click away from selecting assets like an industry leader.

Followers

An account user who is a follower can browse leaders on the platform and see what these experienced users are up to. As a follower, you can view the allocations and strategies implemented in the expert’s portfolio. Once you follow a leader, you can see whatever changes they make in their portfolio strategy in real-time. The changes also automatically reflect on your portfolio.

A premium account is priced at $19 per month. This account allows you full access to the social aspect of the platform. You can chat with the successful traders, view their portfolios, copy their strategies, and interact with other cryptocurrency traders.

Leaders

These are cryptocurrency trade experts who use the platform to share their strategies with their followers. The leaders can grow their audience and easily communicate with them about their strategies and plans. Shrimpy makes it possible for these leaders to update their followers on market conditions and build trust by implementing successful strategies.

A leader who has an engaged and active community is more likely to grow followers and earn even more on the platform.

Making Money on Shrimpy

Shrimpy has created a system where both the followers and leaders are benefiting from their dynamic. As followers grow their portfolios from observing their leaders, they make better asset selections. In return, they are expected to pay the small monthly fee for these insights.

On the other hand, Shrimpy pay their leaders for every follower they gain. Therefore, the leaders grow their funds through their followers. The more followers they have, the more funds they gain. They are paid $4 per month for every follower.

Another set of people getting paid on the platform is referrers. Once a user on the platform refers to a new member, a portion of the new member’s fee goes to the referrer. The referral code is used to ensure that the referrer gets paid for the first three months after registration. They get $10 per month for a simple referral, which is easy money. All you need to get started as a referrer is a referral code available on the website.

Now imagine being a leader who also makes referrals for the platform. That means if you refer a new user who goes ahead and follows you on the platform, then you will end up earning $14 for the first three months from that user! Then if they continue following you, the monthly $4 thereafter. 

For users who feel their portfolio is strong enough to switch from follower to leader, Shrimpy makes it as simple as changing your status on your profile.

Getting Your Money’s Worth

The social aspect of the platform is more than just a place to chat with experts and view portfolios. This tool has more potential for the user to gain funds than meets the eye. A leader on the Shrimpy gets followers by presenting the strongest portfolio and advising on lucrative strategies. The key to building a community of followers that remain loyal is creating trust.

The more engaged the leader is with their followers through chats and socializing on the platform, the bigger their audience becomes. A good portfolio also goes a long way in helping to get followers. The Shrimpy website suggests the strongest leader portfolios at the top of the page when a user initiates a search. Therefore, the leaders featured at the top are more likely to attract the attention of new users.

The leaders can further use the platform to begin discussions with other leaders on the merits and demerits of their current strategies. This not only catches the attention of a different group of followers but also allows a bit of showing off. The followers are free to switch camps depending on whose strategy they feel holds more weight, which means more fees paid to the new leader.

EndNote

The services that Shrimpy provide with a clean and simple to use interface are proving to be a favorite among new crypto traders. The social aspect of the platform is providing a means for new day traders and experts in the field to interact and share their ideas in a controlled environment. This bot holds a lot of potential for the growth of any trader in crypto.

coinmag

Wayne is a Blockchain enthusiast and expert in crypto trading. Currently, he covers trendy issues on digital currencies.