Shrimpy Review: Auto Balance Your Crypto Portfolio

Updated: Dec 7th, 2021
Kevin Groves
Kevin Groves
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

Trading Fees:None
Country:Global
Currency:N/A
Promotion:None available at this time

Key Features

  • Beginner-friendly social trading platform
  • Link to more than 30 cryptocurrency exchanges and wallet
  • Easily manage assets, trade and monitor positions in a single platform
  • Supports spot and Futures market integration
  • Automated trades that initiate across multiple exchanges
  • Follow and copy profitable traders in the Shrimpy community

For those of you that invested in cryptocurrencies a few years ago, you will know the popular the HODL trading strategy. Many investors would also remember the pain of watching the value of their portfolio decrease from the peak in 2017 and now left wondering if their investment will ever recover.

Shrimpy is useful crypto tool that can take out the stress, manage and monitor your entire crypto and automatically adjust your risk based on how the market is behaving.

Key Features

  • Beginner-friendly social trading platform
  • Link to more than 30 cryptocurrency exchanges and wallet
  • Easily manage assets, trade and monitor positions in a single platform
  • Supports spot and Futures market integration
  • Automated trades that initiate across multiple exchanges
  • Follow and copy profitable traders in the Shrimpy community

For those of you that invested in cryptocurrencies a few years ago, you will know the popular the HODL trading strategy. Many investors would also remember the pain of watching the value of their portfolio decrease from the peak in 2017 and now left wondering if their investment will ever recover.

Shrimpy is useful crypto tool that can take out the stress, manage and monitor your entire crypto and automatically adjust your risk based on how the market is behaving.

Ease of useStarStarStarStarEmpty Star
ReputationStarStarStarEmpty StarEmpty Star
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FeesStarStarStarStarStar

This post contains affiliate links with our partners who may compensate us. Read our disclaimer for further information.

What Is Shrimpy?

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 websiteshrimpy website

Is Shrimpy Legit?

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.

Shrimpy Compared

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.

Shrimpy Crypto Tools & Features

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

  • Connect multiple crypto trading exchanges into the one platform
  • Manage your entire crypto portfolio with a simple interface and crypto tools
  • Track your portfolio performance and automatically adjust investment strategy
  • Copy the worlds best crypto traders on social trading
  • Earn commission for each social trader that follows you
  • Automate trading strategies using various indicators and trading tools
shrimpy featuresshrimpy features

Supported Exchanges

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 supported exchangesshrimpy supported exchanges

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, HitBTCOKEX, CoinTracker, Koinly, CryptoTrader.Tax, KaiKo, CoinStats and CoinAPI.io.

Is Shrimpy Free?

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.

Getting Started

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

  1. Visit shrimpy.io
  2. Click on the 'Sign Up' button at the top right-hand corner
  3. Enter in your email and set a strong password
  4. Agree with the terms of service and click 'sign up'
  5. Verify your email address
  6. Login using your credentials

Linking To An Exchange

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. 

Allocating Your Crypto Portfolio

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.

shrimpy portfolioshrimpy portfolio

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.

Copying Other Traders Portfolio

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.

shrimpy social communityshrimpy social community

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:

  • Number of followers
  • Performance over a day/week/month (percentage)
  • Line chart visualization of users portfolio
  • When the investor was last active

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.

shrimpy copy tradershrimpy copy trader

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.

What Are The Fees?

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

  • HODLer (free)
  • Professional - $13/month (billed annually)
  • Enterprise - customized to suit you

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?

shrimpy feesshrimpy fees

Frequently Asked Questions

Shrimpy has a backtest feature to simulate a portfolio allocation to see how the strategy would have performed over a period of time. It's a great way to compare results between a HODL strategy and a rebalancing strategy.

Shrimpy has a demo trading account that allows you to explore and experiment with the platform while connected to different cryptocurrency exchanges. You can practice setting up crypto portfolios and running automatic investment strategies based on allocations and frequency. To view the demo, visit the website.

Shrimpy has an affiliate program for users to earn up 50% commission for the first 3 months on any payments made by the people you refer through your unique referral link.

Conclusion

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.

Visit Shrimpy

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.

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Kevin GrovesKevin GrovesKevin Groves

Kevin is the founder and chief editor at HedgewithCrypto that he started in 2019 which has reached over 1.5 million visitors worldwide. He is passionate about cryptocurrency as an emerging technology and is heavily involved in the fast-growing fintech space. An experienced trader growing his portfolio since 2016, he has a strong understanding of investing in the crypto market using exchanges, brokers and derivatives platforms.

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