Best Shrimpy Review 2021
Investment brings hope for better and profitable returns, but investing in cryptocurrencies is a complicated phenomenon. Several factors are barriers to crypto investment like the diversity of coins, inconvenient investing procedures, finding reliable crypto exchanges, and maintaining portfolios. Shrimpy assures to create a difference and bring ease for new cryptocurrency users. In our Shrimpy Review, we will analyze how far Shrimpy goes to improve the way people invest in cryptocurrencies.
What is Shrimpy?
Shrimpy is portfolio management and crypto exchange trading bot. It brings smart investing ideas outside of crypto into crypto to develop simple and practicable automated strategies. Shrimpy keeps people from the hassle of wasting time researching exchanges, monitoring trading, and balancing portfolios. Shrimpy provides you simple statistics and metrics to track your investments and portfolio performance. Shrimpy offers a personal crypto portfolio automation service. It is not a Token exchange. Through Shrimpy, your exchange accounts are accessible and you cannot trade cryptocurrency or other digital assets.
Shrimpy was launched in 2018 to build up world-class trading tools for asset allocation, managing exchange accounts, rebalancing, and backtesting. Shrimpy is focused to facilitate ease of varying digital assets and automatic rebalancing to a specific ratio. With a total volume of $2 billion+ and 300k+ trades per day, Shrimpy is dedicated to long-term social trading, collecting live and historical market data, and copying other traders to enhance your automated trading experience. The company’s goal is to make digital assets available for every individual by putting cryptocurrency investment in every hand.
- Portfolio management
- Investment management
- Asset allocation
- Financial services
- Investment tools
How Shrimpy Works
Shrimpy collects revenue in different ways i.e. portfolio management, develop APIs, and commission programs.
Portfolio management is the main source of revenue for Shrimpy as thousands of investors automate their portfolios at a monthly cost. Shrimpy also charges for its developer APIs and historical market data. Commission programs (revenue share programs) are a minor source of income for Shrimpy. Shrimpy works with third-party applications, services, and exchanges to earn money.
Shrimpy Account Creation
To use Shrimpy you must:
- Be 18 years or older
- Not be denied or suspended previously on Shrimpy
- Not be “Specially Designated National”
- Not be on the U.S Commerce Department’s Denied Persons List
- Agree to these terms
- Not be on United States’ state, country, territory, or other jurisdiction embargo list
To open an account on Shrimpy
- Go to www.shrimpy.io
- Click the ‘Sign Up’ button
- Now, you will fill out the form by providing your first and last name, email address, password, and referral code if you have any.
- Next, you will agree with the terms of service and click ‘Sign up’
- Go to your inbox and verify your email address
- It’s done. You are all set to log in on Shrimpy
Now, you will connect your crypto exchange’s API to Shrimpy. You will press the ‘Settings’ button and click on the ‘Exchanges’ to select the exchange.
Next, you will allocate a percentage to your desired coins. To add the crypto assets to your portfolio, you need to click on the ‘Automation’ link. Shrimpy allows you to set up multiple automations to manage different portfolios with different coins and different strategies.
Once you decide your allocations, Shrimpy will take charge and do the rest for you. With Shrimpy you can go to own hundreds of crypto assets within minutes without any confusion.
Shrimpy offers more than two hundred supported crypto assets and will offer hundreds of more crypto assets in the future as the platform expands.
Shrimpy provides a separate dashboard for each connected exchange. In this way, you will have an overview of your entire cryptocurrency portfolio.
To save users from the complexity of manual portfolio allocation and successive monitoring of each account, Shrimpy facilitates connecting unlimited exchange accounts with one Shrimpy account. You can automate every exchange account simultaneously.
Shrimpy allows you to manage different portfolios for one exchange account as you can break the account into different portfolios and manage them with ease. You can transfer funds between portfolios.
Universal interface integrates with exchanges. You have to write code once and the Shrimpy’s universal interface will support every exchange.
Historical and Live Data
Shrimpy provides its users access to live data for thousands of markets and billions of historical data points to make them knowledgeable in the real sense. You have an approach to a large database of historical crypto exchange data where you can study trading strategies dating back to 2011.
It is a free educational platform with hundreds of articles of high-quality content about the wide world of cryptocurrencies. It is designed to build blockchain education widespread for everyone and help you grow in competitive markets.
Shrimpy puts special focus on security. Exchange API keys are protected using FIPS 140-2 HSMs (hardware security modules). Besides, Shrimpy helps 2FA (two-factor authentication) so that you have secure access to your account.
By joining the Shrimpy community on YouTube, Telegram, Facebook, Twitter, Discord, Instagram, and Reddit you will have access to the Shrimpy team. Here, you can benefit from the trading experience of seasoned users, ask questions about Shrimpy services, and develop your knowledge about cryptocurrencies.
Fee Optimization with Maker Trades
it is a savvy mode to rebalance a crypto portfolio via a combination of maker and taker trades. Every user can enable this feature for their portfolio strategy and prioritize maker orders over taker orders.
DCA is an advanced feature on the Shrimpy platform. Dollar-cost averaging means that when you deposit new funds into your portfolio they will be distributed into your portfolio and traded automatically without affecting your existing funds.
Amount over Time Graph
It is an interesting but hidden feature on Shrimpy. This graph demonstrates the amount of an asset that you possess and the accumulation rate over time.
Using the IP Whitelist feature Shrimpy users can tell the crypto exchange about the IPs they use or want to use to access their accounts. These 4 IPs are not the users’ IPs. Actually, they are provided by Shrimpy. You must put all the four IPs into the exchange to let the feature perform.
Shrimpy supports the following 16 cryptocurrency exchanges currently.
- Bittrex Global
- Coinbase Pro
- Huobi Global
- Coin Stats
- Coin Tracker
- Shrimpy Developers
Universal Crypto Exchange Trading API
Shrimpy is well aware of the problems faced by developers such as irregularities in function and quality of exchange APIs. The technical teams exhaust when dealing with exchanges because standards or practices are deficient. Shrimpy provides the development teams Universal Crypto Exchange API to serve as the basis for the upcoming crypto trading tools.
- Exchange Management
It needs cutting-edge infrastructure, secure communication, and control of individual users and their exchange accounts to develop powerful trading applications. Shrimpy provides developers a user management solution to control the exchange users.
- Link Exchange Accounts
Developers can link users’ exchange accounts to monitor their crypto holdings. Exchange accounts available on Shrimpy can be connected by any user.
- Exchange Account Balances
Each customer’s balance data is updated consistently on Shrimpy, so you can access your customers’ account balance at any time with a single request.
- Secure Exchange API Key Management
Shrimpy helps developers by securing every API key using FIPS 140-2 HSMs. Now, developers don’t need to build a complex security structure to manage API keys.
- Historica Cryptocurrency Market Data APIs
Shrimpy presents large historical cryptocurrency data sets to study the market, run strategy backtests, and analyze trade patterns. These historical market data APIs help build analytical tools more simply.
- Order Book Snapshots
Shrimpy offers complete sets of order book snapshots.
- Historical Tade Data
Historical trade data dating from 2011 is available on Shrimpy. You can calculate exchange metrics using this data.
- Candlestick Charting Data (OHLCV)
OHLCV charting data enable you to generate attractive charts or analyze the market.
- Strategy Backtesting
This unique backtesting feature allows users to analyze time-based rebalancing strategies.
- Live Cryptocurrency Market Data APIs
Shrimpy offers access to the data feed, price charts, and live exchange listings through its live market data APIs.
- Exchange Order Book Data
A global order book tracks the changes in the main exchange’s order books in real-time.
Low response time WebSockets monitor order book changes across any exchange.
- REST API Endpoints
REST API endpoints provide the present state of the crypto market instantly.
- Exchange Trade Data
Shrimpy tracks and records every trade accomplished on an exchange.
WebSockets provide tick-by-tick trade data for every trading pair.
- REST API Endpoints
REST API endpoints allow access to any trading pair with a single request.
- Crypto Trading APIs for Professionals
Shrimpy provides the most advanced trading platforms, arbitrage bots, and algorithmic trading strategies for professional developers. Shrimpy boasts to carry out more than 60 million trades over the past 3 years.
- Advanced Order Placement
Shrimpy’s most powerful order execution engine is accessible to manage trades across main exchanges.
- Low Latency Order Execution
Advanced order management system gives fast crypto trades.
- Smart Order Routing (SOR)
SOR trading endpoints are offered by Shrimpy to route trades on crypto exchanges without any configuration.
- Portfolio Management
Shrimpy does not impart trading signals or indicators Shrimpy renders instant portfolio allocation and rebalancing on planned intervals.
- Portfolio Rebalancing
With one of the smartest rebalancing algorithms, you can enjoy smart order routing and rebalancing benefits in a single endpoint.
- Portfolio Allocation
With the portfolio allocation feature, you can allocate a cryptocurrency portfolio for your users at a single request.
- Social Trading
Soal trading is a smarter way to trade cryptocurrency. It is all about portfolio management. Social trading distinguishes Shrimpy from other crypto trading bots. Social trading can help you become a better trader as you are kept up-to-date about the latest market trends. Social trading consists of two different groups. i.e. leaders and followers.
The followers will follow a leader’s trades, and they can implement the strategy that is used by their leader(s). There is a powerful portal where followers can search for top traders and leaders in the crypto market. Followers can copy the trading strategy of their leader with a single click. Any changes made to the leader’s portfolio will be copied to the followers’ portfolio.
How It Works
- Sign up and connect crypto exchange
- Find top leaders on the social leaderboard
- Automate your portfolio by following a leader
Leaders can automate their strategies, guide their followers and publish updates for them. They can communicate with their followers via chat and journal features.
Leaders can earn $4/month for every follower and up to $30 for every user they refer.
How It Works
- Sign up Shrimpy and become a leader in the social tab
- Begin trading and develop your following
- Get paid for every follower
Backtesting is a mathematical model to measure the performance of a trading strategy. Backtesting allows you to build up a portfolio from a list of cryptocurrencies to analyze portfolio returns. Backtesting tools are the most powerful data to be used.
Backtesting Data Requirements
- Candlestick data
- Tick-by-tick trade data
- Order book snapshot data
Shrimpy offers three types of tiers on a monthly and yearly basis for its users. Following are the tiers fees and their features.
Starter – $19 per month
- Spot trading
- iacon15 min balance refresh
- Automate 3 portfolios/exchange account
- Connect 5 exchange accounts
- Portfolio tracking
- Strategy automation
- Smart trading terminal
- Smart portfolio rebalancing
- Strategy backtesting
- Social trading
Professional – $79 per month
The Professional tier is the most popular among Shrimpy customers. It includes everything in the Starter plan and:
- Futures trading (about to come)
- 5 min balance refresh
- Automate 5 portfolios per exchange account
- Connect 10 exchange accounts
- Fee optimization with maker rebalancing
- Spread and slippage safeties
- IP whitelisting
- Advanced index builder
- API Access
Enterprise – $299 per month
This tier contains all the features of the Professional plan, plus:
- Dedicated server cluster
- 1 min balance refresh
- Automate 10 portfolios/exchange account
- Connect 25 exchange accounts
- Priority support
Yearly plans accompany a 20% discount on Starter and Professional tiers. Yearly pricing includes all the features included in the Monthly plans.
Starter – $15 per month
Professional – $63 per month
Enterprise – $299 per month
- Wunderbit Trading
- Hedge trade
- Token tax
As a modern trading bot, Shrimpy offers the latest trading tools. You do not need to visit different exchanges or monitor your crypto portfolio once you are on Shrimpy. Shrimpy makes you go and look social with its social trading platform where you can follow successful traders or be the one to build your following and raise your earning. The user-friendly interface and practical security features add to the utility of this portfolio management platform.
- Comprehensive dashboard
- Automatic portfolio management
- Automatic rebalancing
- Social trading
- Education portal
- Multiple currency support
- Partnership program
- No mobile app
- No free trial
- Insufficient customer support
- Little information about trading strategies