Crypto investing is not always an easy activity for novice traders. Since a larger population is new to the crypto space, many users still seek an investment strategy to earn a profitable income.

That's why most newbies require a reliable source like other experienced individuals to provide insightful information on managing their portfolios. Social crypto trading is one area that brings together novice traders with experienced professionals under one roof. Users can copy an experienced trader’s strategy to automatically trade a portfolio of cryptocurrency.

However, in many occasions, users need access to past data for studying and analysis purposes. Shrimpy is one example of an API platform that facilitates historical information dating as far as 2011. Let's evaluate how Shrimpy enables the utilization and availability of archived data.

The Essence of Crypto APIs

Understanding a bit on Application Programming Interface is necessary before examining how users access any form of data. Commonly known as trading bots, crypto APIs perform several tasks ranging from portfolio management and data accumulation. API systems typically have access to a user's public and private keys. Therefore, it automatically performs various trading activities on behalf of every user. Trading bots present some benefits, including:

Saves on Time

Initiating and executing trading activities can be time-consuming for anyone. However, utilizing a computer device creates more efficiencies than humans. Computers make it easier for you to update your Shrimpy portfolio automatically. Other than that, computers fasten the trading process as well as carry out the immediate computation.

Reliability

Since markets operate round the clock, the Shrimp API protocol can conduct every activity for the user. Trader bots are always available to the market and work under the strategies a user employs.

A Solution to Difficult Trading

On many occasions, crypto trading gets to a problematic level. It ends up affecting even the most experienced traders in the crypto community. Therefore, integrating your Shrimp account with an API system gives you accurate results when trading. Trading bots reap positive results by solving the most challenging algorithms that would be impossible to figure out manually.

Promotes Accuracy

API technology plays an influential role in giving exact trading strategies. Trading bots can evaluate every market condition and initiate trades at the right moment. The only thing a user needs to do is choose the trades wisely, and the API software provides accurate algorithms.

Shrimpy's Protocol for Collecting and Using Historical Data

Getting up to date data from exchange platforms can be rare to achieve. Order Books Snapshots display a live market feed representing a set of orders consisting of digital assets. The significance of Order Books Snapshots is providing recent data for developers or traders. Without order books, it would be challenging to estimate the market situation, leaving many doubts to the investors. Below are a few examples of protocols that provide a collection of historical data.

Data Plan Pricing

Data plan pricing is relatively rigid for anyone on the Shrimpy platform. Retrieving the past information is expensive, catering for data collection fees and distributing the data. That way, Shrimpy can dig up the correct amount of details a user desires at affordable prices. Data packages start at a minimum rate of $35 monthly. Prices are fixed depending on the data a user plans to find. Furthermore, the Shrimpy team customizes a product price for investors with a demand for extra bulky data.

Available Tools

Shrimpy trading bots support almost 16 exchanges and numerous trading markets. In turn, users gather more information from each trade on the platform. The API system gives both past order books and trading data mechanisms via a straightforward API call.

Tick-by-Tick Trade Data

The protocol consists of a detailed display of every trade executed before. Among the information available on the Tick-by-tick system includes the time of execution, the price of the trade, and the order's size. Shrimpy incorporates a WebSocket feature that links it to every exchange pair. Consequently, the information is stored on Shrimp's database through the WebSocket feature if any trade occurs. The moment tick-by-tick trade keeps all exchange information, the historical data is ready for any interested party. Users can now get the past information via REST API calls and make decisions regarding current trading endeavors related to historical data actions.

Conclusion

Social crypto opens up a portal of opportunities for any interested investor. Additional use of API software directly links with exchange platforms to provide more advanced trading plans.

The historical information acquired gives users an open mind on the best step to take and maximize their earnings. Social cryptos are open spaces for everyone to learn and interact with other successful traders.

Security is also a significant priority for the Shrimpy ecosystem. The API keys are heavily encrypted with FIPS140-2 features and authorized hardware security modules. Safeguarding, the platform ensures anonymity and maximum transparency levels.