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Shrimpy.io is an online service where you can store you can connect all of your crypto wallets and crypto exchanges that you use. Using the Shrimpy crypto portfolio management, you can conveniently manage your entire cryptocurrency portfolio through a single user-friendly portal and monitor the crypto market in real-time. In this Shrimpy Review, I will take a look at some of the key features of this crypto service, advantages and disadvantages. Hopefully it will help you to decide if Shrimpy is something that you would find useful. Let’s get right to it!
What is Shrimpy.io?
Shrimpy.io is a crypto portfolio management service where users can link various crypto wallets and exchanges to quickly and easily manage their cryptocurrency assets all from one intuitive platform. It enables users to analyse the crypto market, place trades and track their performance.
Founded in 2018, Shrimpy has been helping crypto traders and investors manage their portfolios via a sleek and unified app that can help to save time and maximize potential through the power of automation.
Shrimpy executes over 200,000 automated trades almost every day on behalf of their user community. After you have signed up to the platform and connected your first crypto exchange account, you can choose to deploy an automated strategy in as few as 5-minutes.
It doesn’t matter if you want to develop your own customised crypto trading strategy or to just follow the crypto signals of an established leader of the Shrimpy community, the company believes that it is important for the power to automate trades and manage their portfolio belongs in the hands of every crypto investor. After all, we are all different with different trading styles and risk tolerance levels.
How does Shrimpy.io work?
There are 3 simple steps to follow in order to get started with Shrimpy which are as follows:
- Sign-up to join Shrimpy which is easy and takes just a few minutes – just click the sign-up button the website and fill out your information to create an account
- Connect your crypto assets from over 30 exchange accounts and wallets – Shrimpy will automatically get all of the information regarding your crypto assets and store them in your account where you can conveniently manage them all in one place
- Automate your trading – You can choose from various automated crypto strategies that you would like to follow and copy trades from or simply create your own strategy
- Track your portfolio – Shrimpy offers a quick and easy way for you to keep track of how your crypto portfolio is performing in real-time over the short and long-term
By now you should have an understanding of what Shrimpy is and how it works. Here we will take a look at some of the key features:
Connect Crypto Accounts
Shrimpy allows you to connect all of your crypto wallets and exchange accounts from different providers into one place. This can help to make it much more convenient to manage your portfolio via one modern and intuitive platform whilst you can also keep track of the market and your trades in real-time with up to date data across all cryptocurrencies. It is a better solution than having to switch between multiple cryptocurrency brokers which can be time consuming and possible even detrimental to your trading activity.
Automated Crypto Trading
It is possible to create automated crypto trading strategies with Shrimpy based on individual trading strategies. Crypto robots can do all of the market analysis and trading on your behalf. This can be useful if you already have a manual trading strategy that you would like to automate or if you have various ideas that you would like to try out without needing to spend countless hours analysing the markets yourself. The crypto robots that you develop can do everything from conducting in-depth market analysis, to placing and managing trades.
Backtest Crypto Strategies
Shrimpy has historical data sets with accurate market data for backtesting portfolios to get advanced statistical information. You can use the data to backtest crypto strategies and find those that are suitable for your trading style and goals. If you have an idea for a trading system, you could use Shrimpy.io to build a crypto robot with the strategy and backtest it over historical data to get a rough idea of how it may have traded. Just remember, good results in backtesting does not necessarily mean that the strategy will perform well moving forward.
Crypto Copy Trading Signals
Perhaps one of the most popular features of Shrimpy.io is that you can copy the crypto trading strategies from traders all around the world and even duplicate the trading activity and portfolios of certain investment funds such as Coinbase Ventures, Blockchain Capital, or Binance Labs. This means that anyone regardless of their experience level can get access to the trading signals of skilled and experienced traders without needing to spend years mastering the markets themselves. You can choose from a range of crypto signals which can be fileted according to past results and your preferred trading style. Just always keep in mind that past performance is not a guarantee of future results. It is important to make sure that you understand the risks involved and do not trade with more than you can afford to lose.
Users can automatically copy the top crypto traders on the Shrimpy social trading platform that was built for simple portfolio management. Earn money by leading a community of traders, and get paid for every follower. Communicate directly with your followers through convenient chat and journal features. Effortlessly automate your strategies, guide your community, and publish updates for your followers. When your leader trades, you trade. Shrimpy will automatically update your portfolio to always match your leader’s. Browse through hundreds of cryptocurrency traders to copy. Follow a leader and put your trading strategy on autopilot.
Shrimpy has an active community of social traders. You can check out the Shrimpy social leaders by visiting the leader board. Here you can choose to copy trades to your portfolio by choosing the “follow leader” option. Every time that a social leader makes a change to their portfolio, the same changes will then occur on your own portfolio. Although this does provide a hands-free crypto trading solution, it is important that you frequently check your portfolio and the leaders that you are following to make sure that you are happy with everything. You can add or remove crypto signals from your account at any time.
As a social leader on Shrimpy, you can potentially earn an income based from performance-based fees. If you have a crypto signal to offer, you can set the amount you would like to charge for other traders to follow your signal via your own fee structure. Generally speaking, the better the performance of signals, the more followers you can gain and thus the more you can charge and earn.
Crypto Portfolio Tracking
It doesn’t matter how long you have been trading crypto, Shrimpy.io allows you to build your very own unique portfolio strategy where you can track performance, and monitor the markets in real-time. Anyone can keep track of their profits, losses and portfolio valuation with the easy to use Shrimpy platform
Crypto Portfolio Management
One of the biggest advantages of Shrimpy is that users are able to easily manage all of their crypto assets and portfolios in one place. You can create dynamic indexes that track the DeFi market or other asset classes, and even set portfolio stop-losses as a way to try and minimise the risk.
A cryptocurrency portfolio is a basket of digital assets consisting of cryptocurrencies. Crypto asset management is the practice of purchasing and selling digital assets to be used as investments while managing a portfolio to experience an overall growth in value.
Crypto Brokers & Exchanges
You can link your Shrimpy.io account with over 30 cryptocurrency exchanges and wallets. Exchanges enable investors to purchase, trade, and store cryptocurrencies. It is possible to connect to some of the most popular crypto wallets and exchanges such as Binance, Coinbase, Huobi, Bittrex, Kraken, KuCoin and more.
It is possible for Shrimpy to automate trades across multiple crypto accounts all at the same time. Each of the accounts that are connected to Shrimpy are treated individually, which means that each of the chosen trading strategies can be dedicated to each account as required.
The Shrimpy.io academy has a good selection of educational resources to help you learn more about cryptocurrency trading and the services that they are offer. You will find a range of easy to digest articles and tutorial videos that covers everything from the basics of crypto to making the most out of the Shrimpy platform.
How much does Shrimpy.io cost?
There are a few Shrimpy automated crypto trading packages that you can choose from depending on what you need. The pricing structure aims to try and help you make the most of your crypto portfolio. You can pay with various cryptocurrencies including Bitcoin. If you sign-up for the annual plan there is a 20% saving. However, many users would probably prefer not to commit for that long without first trying out the service which is possible with the monthly subscription option.
Really, the option that you go for is going to depend on a few factors. Things to consider are how many crypto exchanges you need to connect and how many crypto portfolios you would like to create. This will help to narrow down the relevant Shrimpy subscription options suitable for your needs.
The Shrimpy packages are as follows:
- $19/month or $15 per month paid annually
- Spot trading
- 15 min balance refresh
- 3 portfolios per exchange account
- Connect 5 exchange accounts
- Portfolio tracking
- $79/month or $63 per month paid annually
- Everything in the Starter tier, plus:
- 5 min balance refresh
- 5 portfolios per exchange account
- Connect 10 exchange accounts
- API Access
- $299 per month
- Everything in the Professional tier, plus:
- Priority support
- 1 min balance refresh
- 10 portfolios per exchange account
- Connect 25 exchange accounts
How safe is Shrimpy?
Shrimpy is considered by many to be amongst one of the safest crypto trading bot platforms for retail traders. Every API key is securely encrypted and stored using validated hardware security modules to help try and protect the confidentiality and integrity of your exchange API keys.
You do not need to deposit any funds with Shrimpy. Shrimpy only requires the ability to read data and make trades, so your funds cannot be removed from the exchange. All of your funds should be maintained on exchanges or wallets that are connected to Shrimpy. Once a wallet or exchange is connected, Shrimpy can only view those balances and execute trades on your behalf.
They also encourage all users to utilize the Two-Factor Authentication (“2FA”) service which increases security for access to your account.
Shrimpy is an innovative yet simple and easy to use crypto portfolio management solution that has been developed with the busy person in mind. Shrimpy is diverse and flexible so that it can adapt according to individual trader needs. It provides fully automated crypto strategies and trading signals which can help those who may not have the time or experience to trade by themselves. In addition, there are useful features for tracking your crypto portfolio and managing your assets on the fly.
However, despite the positives, it is worth pointing out that there can be no guarantees on how well any of the crypto robots on Shrimpy.io will perform. You will still need to search for social leaders with crypto signals that cater to your own financial goals. Furthermore, if you want to create your own automated strategy then you will need to do some leg work. Always remember, past performance is by no means any guarantee of what the results will be like moving forward.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.