Gunbot vs Shrimpy Which One is the Best Automated Crypto Trading Tool
Gunbot vs Shrimpy, take your crypto trading automation to the next level. Learn how to use crypto trading bots to help you succeed in your daily trading activities.
Your goal as a crypto trader is to make a profit, period.
The crypto market has many income-generating opportunities, ranging from 24-hour trading, access to trading strategies across various exchanges, and the possibility of earning income in bullish or bearish markets.
In brief, investing in the crypto market is undoubtedly the way to go if you’re in it to make an incredible profit.
While the market offers all of these benefits, success in crypto trading is due to 5% having a sound system and 95% following simple rules.
It sounds easy, but as humans, we naturally find it very difficult to follow and stick to a simple set of rules and a system that will pay off in the long run.
If we could only trade as emotionless “bots,” we would be much more successful and have a much less stressful time watching our money go up and down on a chart.
Through a trustworthy bot, you can discover the secret to making profits from crypto, thus improving your chances of winning.
A crypto trading bot is an automated software that executes market orders. A crypto bot does all the trading for you 24/7. It maximizes every chance to make a profit from the market—depending on your settings.
The automated crypto bot is always there to implement your trading conditions when you can’t, like when you have an important meeting or date to attend.
Now, how do you know which one is the best bot for you?
This article seeks to save you time surfing the net so that it will break down the yins and yangs of two platforms from the best crypto bots in the crypto space.
In this Gunbot vs Shrimpy review, we will also dissect the features and benefits of each.
GunBot vs Shrimpy — Overview
Embodying all the essential features a cryptocurrency automated trading software should have, these bots serve the needs of crypto traders. They automate trading techniques without emotion— every trade is predetermined explicitly by the conditions you set.
While the concept seems simple, there are a large variety of services offered by these two bots. Overall, Shrimpy focuses on portfolio management techniques, whereas Gunbot emphasizes technical indicators, day trading strategies, backtesting, and more.
Shrimpy is a web-based platform that offers a clear portfolio management solution for crypto traders.
Shrimpy was founded by Michael McCarty and Matthew Wesly in 2018. The platform gained much popularity because of its simple automated trading strategies, which can help minimize trading risk and increase your profits.
Shrimpy aims at offering a wide range of services to traders who cannot afford expensive bots, so most of its services are based on a monthly or yearly subscription plan.
The San Francisco-based company offers satisfactory working conditions and always updates its users by posting statements on their social media accounts.
Sitting comfortably among the top-rated crypto bots, Shrimpy allows its users to create custom indexes across all connected crypto exchanges and implement a personalized automated trading strategy for each one.
Let’s scale its various features and compare it with the Gunbot.
After many years in the crypto market, GunBot remains a goto crypto bot for many traders. Why? Let’s take a look.
Gunbot is a software-based bot that you can install on Mac, Windows, Linux, or ARM. Gunbot allows a smooth acceleration of your crypto trading—offering 24/7 trading access.
The algo-trading program offers its users customizable trading strategies and allows many presets from more experienced traders. Unlike many other cloud-service bots, it doesn’t collect users’ data as it is a software-based app.
For easier accessibility, the Gunbot automated trading software does not require high computer specifications – you can run it on any modern computer system, a Virtual Private Server (VPS), or a Raspberry Pi.
Gunbot has a balanced set of features well suited for beginners and experienced traders, with top security.
Let’s analyze Gunbot’s business model and compare it with Shrimpy.
Gunbot vs Shrimpy — Pricing System
We’ll evaluate the pricing systems for these bots and assess the multiple features traders look for in a platform. We’ll examine how they work and how they can help you grow your crypto investor empire.
Shrimpy offers its users three subscription trading bot packages that give you access to all portfolio tracking features.
All the tiers offer—Portfolio tracking, fee optimization with maker rebalancing, advanced index builder, strategy backtesting, smart trading terminal, strategy automation, smart portfolio rebalancing, social trading, spread and slippage safeties, and IP address whitelisting.
The subscription packages vary from $15 a month for the annual pack to $299.
Starter: This is basically for users just getting started in trading. It costs $19 per month if you choose recurring monthly payments, or you can get a 20% discount if you pay annually. Its features include spot trading, 15min balance refresh, three portfolios per exchange account, and connecting five crypto exchange accounts.
Professional: This package includes a more detailed overview of the user’s portfolio. It costs $79 per month or $63 monthly if you pay for a yearly plan. Features include all the starter’s package, plus 5 min balance refresh, API Access, five portfolios per exchange account, and more exchange accounts than the starter tier.
Enterprise: This tier offers all the features of the Shrimpy bot. This subscription is best suited for business-level portfolio management. Added features include, supports all the exchanges Shrimpy has to offer, precedence support, and about ten portfolios per exchange account.
Unlike other crypto bots, Gunbot offers a lifetime license for all its packages—including subsequent update features.
Gunbot provides an appealing purchase method because it is not sold directly via the company but is made available via authorized resellers. You can make payments in Bitcoin, stable coins, altcoins (LTC, ETH, or DASH, etc.), and PayPal.
All Gunbot Plans are Lifetime: No Recurring Costs.
And all plans have multiple exchanges to choose from for spot or futures trading (minus the starter), an available number of trading pairs, many trading strategies, get to substitute any exchange at any time, autoConfig, Gunthy tokens, Gunbot school, chat & email support, and many more features depending on your chosen license type.
Check all the specifics for each Gunbot license here.
Gunbot vs Shrimpy — Portfolio Management and Distinct Features
Unlike GunBot, Shrimpy is not designed for automated trading indicators. The platform features simple mechanical portfolio management methods.
Shrimpy makes it easy for novice traders to copy, explain, and automate experienced traders’ strategies. Simple tools such as Rebalancing and DCA are two essential features in managing traders’ portfolios in Shrimpy.
Portfolio rebalancing is not a new thing. Many traders have used it over the years. In regards to crypto, this feature tells you exactly when to sell and buy, what to sell or buy, plus how much.
Instead of looking at the index wondering: Is it the right time to sell, how much do I have to buy?
Shrimpy’s rebalancing feature gives its users a way to allocate assets to minimize the risks taken while maintaining a certain percentage of assets in your portfolio.
The key to the concept of portfolio rebalancing is eliminating risk to strengthen a healthy portfolio that will continue generating profits over time.
Apart from maintaining your portfolio balance, the rebalancing feature has another excellent benefit to offer… it takes away emotions from your crypto investments.
Portfolio balance allows you to execute a sell order when the markets are bullish (which you might otherwise not do due to Greed) and buy when the crypto markets are down (which you might otherwise not do due to Fear)
Gunbot features a fully automated crypto trading platform that incorporates many risk management and professional tools like stop limit, trailing, DCA, RT, and many more.
With Gunbot’s “Trading Limit” options, the top-notch bot allows you to set price limits for the amount of base currency you want to invest per trade to minimize your total balance risk.
Also, the trading limit can be set as a definite amount or as a percentage of your available base currency capital. While executing a sell order, Gunbot gives you the option of selling all your quote currency or keeping some quote coin units.
Furthermore, you can set the bot to ignore small holdings below the exchange minimum trade size. And the “Funds reserve” tool is available to keep a precise amount of base currency reserved at all times. Finally, if you wish, you can automatically withdraw your profits made in BTC.
One notable feature that Shrimpy doesn’t have is the addition of trailing.
What is the Gunbot Trailing Feature?
Gunbot trailing is a dynamic order to close or open trades at progressively better prices. This feature is used for many types of orders—allowing for optimum entry or exit points.
The primary purpose of “trailing” with Gunbot is to lock in the profits in the trend while at the same time limiting losses if the trend reverses itself.
Trailing can help your bot prevent buying an asset too soon or selling it too early—thereby minimizing your risks.
For example, set up a “sell method” that tells your bot to sell when the price reaches the higher Bollinger band. Your bot will place a sell order without additional trailing when the price hits the higher Bollinger band. With trailing, Gunbot systematically moves with the Bollinger band as the price favors the trade.
The critical thing to remember is that a trailing stop will only move when the price action moves in favor of the trade, but in case the price action starts to move against your transaction, the trailing stop will not move and lock in.
Trailing is a crucial component of a professional cryptocurrency trading strategy.
Types of orders that allow for additional trailing:
- Regular buy orders
- Regular sell orders
- DCA buy orders
- Reversal trading buy orders
- Reversal trading sell orders
- Futures trading close orders
You can also use this Gunbot feature to execute (trail) orders you made manually.
Gunbot vs Shrimpy — User Interface
Shrimpy is relatively easy to get your hands on as it provides a user-friendly interface. This bot doesn’t have a mobile version.
Here are the Simple Steps to get started with Shrimpy.
- Sign up for a Shrimpy account.
- Activate your chosen paid package.
- Link your preferred exchange with API keys.
- Build your customized portfolio automation, or copy a social trader on the platform to invest with.
- Input the amount you’re willing to start with, and you are good to go.
Gunbot provides an easy-to-configure platform, and it offers a gleaming UI with many features to help traders customize their automated strategies or go for a predetermined plan for ease of use.
Easy procedures to get started with Gunbot
- Purchase your Gunbot lifetime license.
- Wait for an email confirmation with instructions on how to log in to your auto-created Gunbot School account.
- Follow the step-by-step instructions of the Gunbot explainer videos. You will have all the info you need to activate your bot and pair it with your newly created Gunthy wallet at the end of the course.
- Wait for your Gunthy tokens airdrop.
- Choose your strategy, set the values based on your capital and trading style. (as you learned in the school)
- Kickoff your bot, and you are good to go.
Gunbot vs Shrimpy — Supported Exchanges
Shrimpy included crypto trading exchanges.
Using Shrimpy allows you to connect to about 20 exchanges that the platform supports to manage your portfolio.
Currently, Shrimpy supports KuCoin, Binance, Binance.US, Bittrex, Bittrex Global, Coinbase Pro, Kraken, Poloniex, BitMart, Bibox, Gemini, Bitstamp, Huobi Global, Bitfinex, HitBTC, Gate.io, CEX.io, FTX, FTX.US, and Okex.
Gunbot arsenal of crypto trading exchanges
GunBot is known to have wider compatibility with many exchanges. We have more compatibility with cryptocurrency exchanges than any trading bot, with a great list of 136+ supported crypto markets.
Gunbot supports all exchanges compatible with Shrimpy plus a massive number of other crypto trading exchanges.
Here are a few extra, Bybit, Beaxy, Binance Futures, CEX.io, Kraken Futures, Txbit, Bitmex, and many more.
Click here to learn more about crypto exchanges the are in partnership with Gunbot.
Gunbot vs Shrimpy — Conclusion
After a detailed analysis of Shrimpy and Gunbot, the fact, in the end, is that no trading bot is 100% perfect. It all depends on the kind of tools you’re looking for in an automated crypto platform.
Shrimpy has practical API sets and a working social trading platform, making it one of the leading crypto portfolio automation tools.
Nonetheless, over the years, Gunbot has built a reputation as a crypto trading platform due to its steadiness in trading—offering a vast majority of features that ease the work of traders.
Crypto trading can be hard work, and sitting in front of a PC reading charts is exhausting. Still, by using automated trading software, you can develop the discipline and patience needed to succeed.
If you follow these rules and take advance of the best trading bots on the market, you can have a better chance of success in the competitive crypto trading industry.
Gunbot is one of the top crypto trading bots on the market today; because it takes most guesswork out of trading.
The starting process is straightforward, and your learning curve won’t be that steep, so you can start making winning trades and see your profits accumulate pretty quickly.
Have fun with this Gunbot vs Shrimpy review, and keep coming back for more.
Don’t overthink it; your Gunbot Lifetime license is just a click away. Grab your bot now and join us. You won’t regret it!