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The best Shrimpy alternative in 2023, as found in our independent testing, is Pionex!
Shrimpy offers cryptocurrency traders a straightforward way to regulate their digital currency wallets.
It enables traders to set up their custom trading wallets and design productive automated trading strategies.
Shrimpy provides multiple crypto trading, management tools, and advanced social trading and backtesting functionalities.
While many investors love Shrimpy, some find it lacking in certain aspects, for instance, the range of integrated exchanges, available trading bots, and indicators.
And that’s where Shrimpy alternatives come into existence.
However, many alternatives are available in the market, but not all are equally effective. That’s why we’re here with the 5 of the best Shrimpy alternatives you can use in 2023.
Best Shrimpy Alternatives in 2023
Here’s a quick look at the best Shrimpy alternatives:
- Pionex – 🏆 Winner!
Pionex (the best Shrimpy alternative) is the world’s first cryptocurrency trading platform that includes free in-built automated trading bots.
Launched in Singapore, it has developed into an international cryptocurrency exchange in just 2/3 years (that’s quite commendable).
Being a Singapore-headquartered broker with more than 100,000 monthly active users, Pionex’s monthly trading volume amounts to 5 billion USD.
Additionally, it offers pocket-friendly trading fees and an advanced mobile app, making it the best platform for crypto traders who like to trade in large volumes on the go.
That’s not all; one of the promising features of Pionex is its in-built trading bots. In total, investors have access to 16 trading bots that enable investors to automate their trading.
Apart from being super-advanced, these bots are also free to use; that is, a trader doesn’t have to pay any additional fee to access these in-built automated trading bots.
- Price: FREE
- Types of Bots: Arbitrage Bot, Grid Trading Bot, Copy Trading, Social Trading, Martingale Bot, Spot-Futures Arbitrage Bot, Rebalancing Bot, DCA, etc.
- Supported Exchanges: Huobi, Binance, Pionex
- Mobile App: iOS & Android
And the best part is Pionex’s automated bots eliminate the need for traders to monitor the market continuously.
Now let’s talk about some of Pionex’s amazing in-built trading bots. The first and foremost automated trading bot that the platform offers is the Grid Trading bot which is the best of all.
This bot automatically buys a digital asset when its price falls below the trader’s preset “low” point and sells the same when its price rises above a predetermined “high” point.
Using this bot, an investor can benefit from the market’s fluctuation and profit from it.
On the other hand, the Arbitrage bot helps a trader earn profit using price fragmentation between a crypto asset’s current spot price and its current price in the futures market, backed by the Binance broker system.
The Arbitrage bot pledges to provide a “return of 15% to 50% APR at extremely low risk” for a deposit of 50 USD. The Martingale bot is used for capturing fluctuation profit.
This bot basically purchases DCA and sells the same once to take advantage of price volatility. And the list of these remarkable trading bots goes on.
Trading Bots Available on Pionex
There are altogether 16 free in-built automated trading bots available for investors to use, and these include:
- Grid Trading bot
- Arbitrage bot
- Trailing Sell bot
- Rebalancing bot
- DCA (dollar-cost averaging) bot
- Leveraged Grid
- Martingale bot
- Leveraged Reverse Grid
- Dual Investment
- Smart Trade
- Reverse Grid
- Margin Grid
- Infinity Grid
- Time-Weighted Average Price (TWAP) Bot
- Trailing Buy
- Spot futures arbitrage bot
Pros and Cons of using Pionex’s Trading Bots
Okay, an active trader can pore over the extremely volatile cryptocurrency markets; it suits their trading strategy.
However, not all crypto traders are actively involved in cryptocurrency trading.
Some people have different jobs and can only devote limited time to trading activities. And that’s where Coinrule, an amazing Shrimpy alternative, drives in.
- Price: Free-$449.99/mo
- Free Trial: Unlimited for basic accounts
- Types of Bots: Order Types, Conditions and Triggers, Trend Following Technique, and Accumulation Bot. Total 150+ Rules
- Supported Exchanges: Binance, HitBTC, Coinbase Pro, Okex, Bitstamp, Bittrex, Poloniex, Kraken, BitMEX, Bitfinex, Bitpanda pro, Liquid, Binance US
- Mobile App: Not available
The mind behind this cryptocurrency trading exchange is crypto and blockchain enthusiasts who noticed that cryptocurrency trading is unnecessarily complicated.
Keeping that in mind, they established Coinrule in 2017 with its headquarters in London.
It set out to make crypto trading less chronic, creating an automated trading exchange that can associate safely with zillions of other exchanges.
Well, even if a trader has time to devote to following the cryptocurrency market, it’d still be helpful and advantageous to let an automated bot handle the challenging task of technical analysis for them.
All an investor needs to do is set up trading rules, and this platform will monitor the market and do the crypto exchange that fits into the investor’s strategy.
Even though there are various other ways to carry out automated trading, Coinrule offers a user-friendly interface that makes the trading process even easier.
In fact, a newbie investor doesn’t have to learn coding to set up and use trading rules.
The company raised more than £500,000 ($700,000) on Seedrs in December 2020, which was over 200% above its target.
Trading Bots Available on Coinrule
Although Coinrule offers a limited number of trading bots, they’re quite remarkable. The two trading bots available on Coinrule are:
- User-Friendly Automated Trading
- Built-In Trading Strategies
Pros and Cons of using Coinrule’s Trading Bots
Another Shrimpy alternative, Bitsgap, is a cryptocurrency trading platform established in 2017. The platform makes it possible for traders to connect all their exchanges in one place.
It comes with a diverse range of plus-points like easily executing arbitrage strategies, utilizing advanced trading bots to trade across multiple platforms simultaneously, and many more.
That’s why Bitsgap has advanced to satisfy crypto traders’ many desires and expectations.
- Price: $24-$149/mo
- Free Trial: 7 days
- Types of Bots: Grid Bot, Scalping, Arbitrage, Unlimited Smart orders, Futures bots, Trailing Up & Down for bots, Take Profit for bots
- Supported Exchanges: Binance, OKX (OKEx), Bitfinex, HitBTC, Bittrex, Huobi, Exmo, Kucoin, CEX.io, Kraken, Poloniex, Livecoin, Coinbase PRO, Coinbene, Coinex, Gate.io, Bitstamp, Liquid, Gemini, BitZ, Yobit, DDEX, Bithumb, Bibox, BigOne
- Mobile App: Not available
One of the platform’s most prominent features is its trading bots. These bots let investors make the most of the extremely volatile cryptocurrency market.
They ensure that investors’ investments are spread proportionately within their chosen range, enabling them to earn small but frequent profits on each crypto market movement.
As soon as the price hits the expected range, orders are fulfilled, and new orders are placed.
The Bitsgap platform currently has two bot strategies: Classic and SBOT. The Classic bot uses an equal amount of base currency in each grid.
That means it purchases and sells an equal amount of the base currency at each level.
On the contrary, the SBOT strategy uses a tactic to purchase and sell a different quantity of the base currency at all grid levels.
But, it allows equivalent investment distribution. Meanwhile, a trader needs to have a minimum fund to use the trading bot service of Bitsgap.
Trading Bots Available on Bitsgap
The Bitsgap platform comes with four remarkable trading bots, which are:
- Classic bot
- SBOT bot strategy
- Scalper Bot
- Trailing Bot
Pros and Cons of using Bitsgap’s Trading Bots
TradeSanta is a newly launched cloud-based tool with a solid reputation. Besides supporting basic order types, its automated bot can carry out more advanced strategies.
Well, some of its functionality may take longer to habituate oneself to.
Honestly speaking, TradeSanta doesn’t have as many remarkable features as other Shrimpy alternatives in this list have, but it’s a free platform, and its services are outstanding.
The platform currently supports 7 exchanges, plus it will collaborate with BitMEX super soon.
Trading Bots Available on TradeSanta
The recently established cloud-based tool TradeSanta has three bot templates and two automated trading bots, namely:
- Grid Bots
- DCA Bots
- Long Bot template
- Short Bot template
- Custom template
Pros and Cons of using TradeSanta’s Trading Bots
3commas is one of the best web-based cryptocurrency trading bots and a great Shrimpy alternative.
Currently, there are 220,000 registered users on the platform with 26 supported exchanges. Its top priority is customer satisfaction, and that’s why it’s developers keep continuously adding new innovative and advanced features to the bot.
The users of 3commas can track various orders on multiple exchanges and make well-versed trading strategies.
The 3commas platform has recently collaborated with Binance.
And this association guarantees convenient trading conditions via Binance’s security infrastructure and noteworthy asset management.
Additionally, a trader primarily has two options in terms of automated trading bots at 3Commas.
A professional or experienced trader can customize their trading conditions at ease if they want to. However, a new or inexperienced trader can copy the trading strategies of other 3Commas users.
Trading Bots Available on 3commas
3commas has a range of trading bots. Some of the popular ones include:
- FTX Trading Bot
- Binance Trading Bot
- KuCoin Trading Bot
- Gemini Trading Bot
Pros and Cons of using 3commas Trading Bot
And with that, we’re at the end of our article about Shrimpy alternatives to try in 2023.
We’ve reviewed each of the alternatives mentioned above based on different parameters.
As per our findings, we found Pionex as the perfect Shrimpy alternative currently available in the market.
Here’s why we prefer Pionex over other Shrimpy alternatives:
- It offers a huge range of automated trading bots, currently numbered at 16
- The trading bots of Pionex are easily accessible
- All the Pionex trading bots are free to use
Although Pionex is our personal favorite, you should choose the best trading bot for yourself after analyzing all the mentioned Shrimpy alternatives.