DEX Trading on Shrimpy: Connect and Trade With up to 8 Different Wallets
Wayne Jones • September 21, 2021
Shrimpy is an automated portfolio management platform that has been serving crypto users for three years now. It allows users to interact with numerous exchanges from a single trading terminal and automate portfolios without any crypto trading background, saving time and improving trading efficiency in the process.
The idea with Shrimpy is to ensure that even the rookie crypto investor can trade like an expert. This aspect is especially clear at Shrimpy’s social trading tab, a copy trading environment where investors can follow other successful investors. A rookie only needs to follow other expert traders and benefit from their strategies.
Recently, Shrimpy has been fighting for dominance in the crypto space. It has integrated several wallets to onboard more users. So, why is wallet integration important for Shrimpy?
A crypto wallet is perhaps the most important part of any investor’s initial crypto journey as it is the only way to hold digital assets. Wallets have added security features to ensure the funds will be safe from external interference. So, a wallet is a day-to-day tool for all crypto investors, thus essential to integrate more for social traders.
While introducing new wallet supports, Shrimpy provides efficiency, simplicity, and convenience. It provides proper management to the wallets. Keep reading to see the newly integrated wallets and how Shrimpy conveniently manages investors' wallets.
Shrimpy's Supported Wallets
Shrimpy currently supports a total of eight crypto wallets, some offline and other online-based wallets. The most popular offline wallet supported is Ledger.
Most of the wallets already integrated currently are online-based wallets, also known as software wallets. The recent integrations focused more on wallets for DEX services and DeFi investors. Among these wallets include: Metamask, 1Inch, Rainbow, Coinomi, Atomic, Trust Wallet, and Authereum.
Shrimpy's developer team is still working hard to introduce more wallet support in the future. How does Shrimpy help in managing the wallets?
Shrimpy's Wallet Management
When discussing wallet management, factors like convenience, simplicity, and security are all considered. The most primary tasks of a wallet are holding and securing crypto assets.
Shrimpy's endgame is ensuring that you can use social trading and partake in DEX trading with your online wallets. Once you connect your wallet to Shrimpy; the platform offers the following for your portfolio:
Portfolio Tracking
Having complete control over the portfolio is one of the major needs of any crypto investor. Shrimpy provides portfolio management services. Once you connect the wallet, it's easy to see the performance of the assets and the portfolio. You can see the balances and detailed individual performance.
Connect Multiple wallets
Shrimpy allows you as an investor to connect multiple wallets to cover your whole portfolio. Since it only has eight wallets currently, you can only select from the ones available.
There is a limit on the number of wallets that one account can hold. The lowest subscription tier allows you to connect fewer wallets, while the highest tier allows more wallets. Currently, the basic tier accepts only the integration of 5 wallets plus exchanges.
Easy to See All Your Wallets
After selecting the multiple wallets you need, Shrimpy makes it easy to access the wallets when trading. You will get an option dubbed 'Account Selector' Found on the top left corner of the main dashboard.
Your dashboard will open the whole list of wallets and exchanges integrated into your account. Each wallet opens its dashboard with the necessary details on account and asset performance.
How to Connect a Wallet
The process of connecting a wallet is quite simple on the Shrimpy app. Generally, the basics you need for connecting a wallet are similar whether you’re using an offline or online wallet. You must have the public address for the assets you hold in your wallets. Once you have your public address ready:
- Open your Shrimpy account.
- Choose the wallet section and automatically click, 'Connect a new wallet.' Shrimpy will open a page with all the available wallet options, select 1.
- The new page has the choice of asset and a place to write your public key. Toggle the asset box to get the variety of assets available.
- Select your asset, paste your key and autonomously save the information.
- Repeat the process until you like the assets in the wallets to Shrimpy. You can use this same wallet address to transfer as many of your assets in the wallet to the Shrimpy network.
- After 15 minutes of saving the information, Shrimpy's portfolio manager will start reading the details in the wallet.
- Offline wallets do not currently have the Social trading feature. However, Shrimpy's team could be working on that.
After connecting your wallet with Shrimpy, the only thing remaining is to start trading and automating your crypto portfolio or even engage in social trading. If you have already followed a market leader, you will enjoy the benefits they enjoy. You must remember to set the stop loss. The feature will help reduce risks associated with the market leader's poor decision-making.
Final Word
This guide has been looking into crypto DEX wallets and their place on Shrimpy’s automated portfolio management platform. Shrimpy integrated new wallets recently as it embraces DeFi and DEX trading. Currently, the platform supports eight wallets in total, but the developer team is working on more integrations.
The platform helps provide convenience for users by adequately managing their wallets. It provides portfolio tracking and multi-wallet support. The connection to your wallet is also pretty easy when using Shrimpy. Investors can try using Shrimpy's wallet features for their benefit.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. None of the content on Crypto Folds is investment advice nor is it a replacement for advice from a certified financial planner. Please do your own research before purchasing or investing into any cryptocurrency.
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