Shrimpy Review: Auto Balance Your Crypto Portfolio

In this Shrimpy review, we will provide our opinions on the cryptocurrency portfolio tools available such as automatically adjusting your portfolio allocations across multiple exchanges in a few simple clicks. Innovative tools such as these can help you to manage your crypto investment portfolio and reach your investment goals sooner.

Shrimpy is a portfolio management website that allows investors and traders to manage their entire balance across several cryptocurrency trading platforms all in the one location. You do not need to log in separately to each crypto exchange to perform buy and sell trades.

The portfolio manager allows you to allocate your overall portfolio using simple percentages with a visual snapshot and statistics. You can manually or automatically adjust the allocation of each coin based on the market by changing the percentages which will execute the trades on your behalf.

Shrimpy appears to be a legitimate and trustworthy company that provides an online portfolio management tool that connects multiple cryptocurrency exchanges under a single platform. The website uses secure and encrypted API's to integrate with credible, safe and reputable trading platforms such as Binance, KuCoin and Bittrex.

Visually appealing portfolio management, automated trading bots and integration to several exchange API's is an important feature on Shrimpy. Here are alternative platforms like Shrimpy with similar products and services to consider.

Here is a summary of the best features on Shrimpy (with our commentary):

Shrimpy allows its users to connect multiple cryptocurrency trading exchanges. This means, you can buy, trade and sell cryptocurrency using a single interface. The supported crypto exchanges on Shrimpy include:

Shrimpy is backed by some of the biggest names in the cryptocurrency space which provides credibility. The portfolio management site is supported crypto companies such as KuCoin, HitBTC, OKEX, CoinTracker, Koinly, CryptoTrader.Tax, KaiKo, CoinStats and CoinAPI.io.

Shrimpy offers a free version of the platform that allows individuals to connect unlimited number of cryptocurrency exchanges and monitor their overall portfolio. The paid plans includes additional features that are not included in the free account such as automatic portfolio rebalancing, strategy optimizing and back-testing tools.

The first step is to create an account with Shrimpy. Simply follow these steps:

Log in to Shrimpy account once you have completed the email verification. Here you will need to connect your crypto exchange's API to the platform. To connect an exchange, click on the 'Exchanges' tab under 'Settings' and select the exchange.

Enter the API information from the respective crypto exchange that you want to connect. For further information, Shrimpy has put together a step-by-step guide on how to connect each exchange to their platform. 

Now that you have connected your cryptocurrency exchange, you can begin the process of allocating a percentage to the coins that you want to own. Click on the 'Automation' link on the left menu which will take you to a screen as shown below.

You can add the crypto assets to include in your portfolio. Each allocation is based on a percentage, so the total allocation should equal 100%. Once you have added the allocations, make sure to select an automation strategy by selecting the rebalancing time period.

Once you have saved the automation, you can begin to automate the process by allocating your portfolio. Before you hit the 'Rebalance Now' button, make sure to review the allocations to ensure you are happy with it. Once you activate the sequence, Shrimpy will perform all of the necessary trades on your behalf to reach the portfolio allocations you have set.

You can also set up multiple automation to manage different portfolios that may comprise of different coins or a different strategy. For more information on how to create a portfolio with Shrimpy, watch the video below.

Similar to other social trading platforms like eToro, users on Shrimpy can interact with other investors and view the most popular allocations of digital currencies on the platform. By following successful crypto investors, you can tailor your portfolio to match the best investors on the platform and even chat directly to them.

You can even follow multiple Social Leaders and let them automatically manage a portion of your crypto assets. To do this, you need to create multiple portfolios as explained above. To view and follow crypto traders portfolio, click on the 'Social' tab on the left.

Users can browse all of the other investors on Shrimpy that have shared their portfolio allocations. You can see the following information to determine which portfolio(s) to follow:

After you have settled on a portfolio that you want to follow and replicate, click on the 'Start Automation' button which will open a dialog box showing your current portfolios. Select your portfolio and click on 'Start' to automatically rebalance your crypto portfolio to copy the person's account you are following.

So basically, each time the portfolio you are following changes their allocation, it will automatically buy, trade and sell through your connected crypto exchange to match their portfolio. It's obviously important that you thoroughly examine the investor you wish to follow and interrogate their performance over a long period of time.

The only improvement we noticed would be to add filters to order the investors by performance or another metric.

Shrimpy fees are based on three different packages that offer various features and functionality:

To choose the best payment plan to automate your cryptocurrency strategy, you should check the website to see what features are included with each pricing option. Payments are in USD or cryptocurrency. If you're unsure, why not start out with a free Shrimpy account?

To conclude our review and assessment of Shrimpy, we found the crypto trading tools are very useful. It removes the need to check your crypto portfolio each time or having to log into multiples exchanges.

Furthermore, the automatic (or manual) coin allocation feature makes it quick and easy to change your portfolio allocation and exposure. It takes only a few minutes to setup and the Shrimpy does the rest to rebalance your portfolio automatically.

Best of all, you can even allocate a small part of your portfolio to copy the investment strategy of highly profitable crypto traders on the platform. Overall, we were quite impressed with the Shrimpy and believe it is worth giving it a try.

The cryptocurrency trading tools available on the platform are excellent even in the free version. It will be great to see more cryptocurrency trading exchanges added and new and exciting new features released in the future.