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By Heather Blackmore | Last updated 14/02/2019
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The cryptocurrency market is already up 300% in 2019. The next big bull market has begun! For many, the cryptocurrency market is an unknown market and infamous for scams and wild volatility. That is why they stay out of the market. But social trading with solutions like Shrimpy now allows for you to follow professional traders at the click of a button. If you want to try your hand, here are the steps you need to take.
Tip 1: Set up your exchange account
To buy cryptocurrency, you need to buy and sell via an exchange. This means you need to create an exchange account and they will store your cryptocurrency in your digital ‘wallet’. Setting up an exchange account is simple these days, it only takes a few minutes and you can purchase cryptocurrency using your bank card. It is important to choose an exchange that is reputable and secure, thankfully there are several excellent options to choose from. We recommend EXCHANGENAME as it accepts GBP, has lots of volume and a great selection of coins.
Tip 2: Set up your Shrimpy social trading account
Next, you need to set up your Shrimpy social trading account and link it to your exchange. This will enable Shrimpy to automate trades with your exchange. Signing up for a Shrimpy.io is a pretty standard procedure – clicking Sign Up and filling in the necessary data, followed by a mandatory email confirmation. Then copy your private API from your exchange account into your Shrimpy account. This will allow Shrimpy to automate your trading. Within a few minutes, you will be ready to go.
Bitcoin
Ethereum
XRP
BitcoinCash
Tip 3: Follow a professional trade leader
This is the amazing part! There are hundreds of professional trader leaders to choose from. Firstly, filter the leaders' board by selecting your exchange. Then review the performance of each leader over the last 6 months to see which traders have made the most money. Finally, choose one and simply click Follow. It’s as simple as that.
JOIN EXCHANGENAME
Get £100 in free trading fees with your 1st deposit of more than £100.
VIEW OFFER Ts&Cs Apply. New Traders Only. 18+Tip 4: Review your leader’s performance
You can check the performance of your trading leader every day if you want. But we recommend looking only once a month. The cryptocurrency market is infamously volatile so the market may dip one week and then take off the next week. You need to give your leader time and not panic and sell after a few days of losses. These leaders are full-time professional traders and they spend all day trading in this market. This enables you to know nothing about Bitcoin or Ethereum, smart contracts or the latest regulations. At the end of the month, if you want to switch leaders, it is as simple as pressing a button.
Some leaders made more than 40% last month alone and only get ½% commission of your profits!
Check The Leader Board Now
New to Cryptocurrency?Trade with a reputable exchange
Tip 5: Are you a natural cryptocurrency investor?
Trading in cryptocurrencies is not for the faint-hearted. Over the past 6 months, the price of bitcoin has been as high as low as 3,000 and and as high as 14,000. The good news is that we are in another long term bull market. If you’re more of a ‘cash under the bed’ type, this probably isn’t the area for you. But if you are willing to take some risk or are excited by investigating in new technologies then this could be the safest and easiest option for you.
JOIN EXCHANGENAME
Get £100 in free trading fees with your 1st deposit of more than £100.
Are you ready to trade?
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EXCHANGENAME
Get £100 in free trading fees with your 1st deposit of more than £100.