Shrimpy Review 2021

Shrimpy.io or Shrimpy is a leading portfolio rebalancing tool and social trading platform for crypto. It offers an interactive user interface, unique features, and responsive customer support. With Shrimpy, users can develop custom cryptocurrency index funds and copy trading strategies and even automate rebalancing. The tool currently supports 16 major crypto exchanges and is constantly adding new ones. Copy Trading and Social Trading is its unique selling point. But is Shrimpy safe? This Shrimpy review will assess its fees, operation, features and more.

Shrimpy Summary

Headquarters Santa Clara, California
Found in 2017
Native Token None
Listed Cryptocurrency BTC, ETH, BNB, ADA, DOGE, amd more
Trading Pairs N/A
Supported Fiat Currencies N/A
Supported Countries Most of All
Minimum Deposit N/A
Deposit Fees Depends on Membership
Transaction Fees Depends on Membership
Withdrawal Fees Depends on Membership
Application No
Customer Support Mail Support

About Shrimpy

Michal McCarty and Matthew Wesly founded Shrimpy back in 2018. The location was San Francisco, and its original registered name was Bethos Lab Incorporation. The platform helps the global crypto community by offering safe and quick trading proceedings. It automates digital currency trades and prepares trading strategies. The tool uses crypto portfolio rebalancing and index funds development to facilitate it. The platform quickly became popular due to its efficiency and unique features.

It currently works with 16 popular cryptocurrency exchanges. The platform also supports numerous cryptocurrencies to prepare a custom index fund. A Shrimpy review stating portfolio management and automation as its ultimate feature is routine. It can increase profits and minimize risks without hassle. Many customers call Shrimpy the pioneer for offering such features. It is helping new and experienced traders find the best trading opportunities. While it allows users to trade crypto and sell cryptocurrency, it’s not in any way investment advice.

Shrimpy Review - Platform InterfaceShrimpy Review – Platform Interface

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Quick Summary of Shrimpy

  • Test and automate trading strategies.
  • Simple crypto portfolio management.
  • Build new apps with cryptocurrency APIs.
  • Copy other traders’ portfolios with the social trading program.
  • Assess crypto portfolio’s profitability.
  • Gather existing or live market data from major exchanges.
  • Long-term trading strategy automation using Shrimpy trading bot.
  • Offers crypto index funds for multiple crypto exchange accounts.
  • Keeps API keys secure.

How Does Shrimpy Work?

A popular reason behind customers looking for a Shrimpy app review is its working. The tool is known for offering automated portfolio rebalancing. It can be defined as the procedure of realigning assets’ weighting within a portfolio. It is done by gradually buying and selling assets to maintain a desired or original risk/asset allocation level. The platform claimed to offer an easy trading experience for novice and experienced crypto investors.

It even allows customers to copy leading traders and their different strategies using Social Trading & Copy Trading. The service is free of cost and is helpful for novice traders. It benefits experienced users as a copied portfolio strategy means a reward of 4 dollars per month. Holders can access Shrimpy for free. However, professionals need to pay 13 dollars per month for an annual plan.

It facilitates collaborative investing through tools like index automation. The functionalities offered by the platform makeup for the cost easily. That is why most skilled professionals place the device above every popular alternative.

Shrimpy Review - How Does Shrimpy’s Affiliate Program Works?Shrimpy Review – How Does Shrimpy’s Affiliate Program Works?

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Features of Shrimpy

Portfolio Rebalancing

Rebalancing is placed at Shrimpy’s core. As mentioned earlier, it is the procedure of modifying a crypto portfolio to meet the market movements. Thus, it helps them maintain stability for long-term growth. Other platforms popularly use the feature in the stock market. However, Shrimpy became the first to bring it to the cryptocurrency sector.

As the name suggests, the feature’s primary intention is to rebalance the portfolio. It is done by keeping preferred allocations. The tool even increases users’ chances of earning profits and maintaining the strategy. The platform uses the fiat value to balance the portfolio. Moreover, it offers comprehensive portfolio tracking solutions too.

Shrimpy Reviews - Features of ShrimpyShrimpy Reviews – Features of Shrimpy

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Indexing Tool

Every experienced trader knows owning multiple portfolios means decreased risks. It even increases wealth in the long run. Shrimpy offers functionality through an indexing tool. The tool helps users develop a custom crypto index with automated rebalancing and different parameters. Index weighting is crucial for its market performance. It can be done by using the tool and adding automatic weights through equal weights or market capitalization.

Backtesting

Developing custom trading portfolios and strategies without any indication hinders its performance. That is why the platform allows users to alter it and create the ultimate fund allocation. In addition, its backtesting tool supports strategy testing or indexing with previous market data. That way, the tool assesses how the strategy may have performed under the past market conditions.

Shrimpy Reviews - Benefits of Using ShrimpyShrimpy Reviews – Benefits of Using Shrimpy

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Social Trading

Social Trading is a popular concept among brokers. The method allows customers to monitor and automatically copy other traders’ strategies. Social trading even facilitates the option to oversee the portfolio performance over time. While the process is already popular, Shrimpy presents it in an even better way. Users whose strategies are copied by other traders can earn money in return. Making the crypto portfolio or strategies public is not mandatory. Plus, copying the system does not incur any cost. That is why most brokers see the tool as revolutionary. It helps new buyers and customers leverage social portfolios and get accustomed to the sector. Meanwhile, if you have viable strategies, you can easily earn stable passive income.

Shrimpy Reviews - Automate Your Trading Strategy with ShrimpyShrimpy Reviews – Automate Your Trading Strategy with Shrimpy

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Shrimpy Review: Pros and Cons

The best reason behind reading a Shrimpy review is to assess its pros and cons. That is why here are the top benefits and drawbacks of using the tool:-

Pros Cons
The tool and crypto bots are free to use. It does not offer crypto signals.
Offers enhanced security and various trading tools. Financial security is not guaranteed 100%.
Users can equip social trading tools to duplicate profitable trading strategies.  Limited validity for the referral program.
Portfolio automation rebalance.  No trading terminal. 
Provides educational guides regarding digital currencies. Does not offer trading bot scripting.
Simple to understand and easy to use. No mobile app for users.
Supports multiple crypto exchanges to manage your crypto.
Traders can use a demo account for portfolio management and testing.
Dollar-cost averaging and threshold rebalancing supported.

Shrimpy Account Registration & Login Process

Creating an account on Shrimpy is quick and straightforward. Customers only need to own a valid email address to complete the registration process. Here is how it can be done:

Account Registration Process

  • Reach the official website of Shrimpy.
  • Browse the “Get Started” option.
  • Now, a window like this will open.
  • Here, fill in details like name, email, password, etc.
  • Submit a referral code if you possess one.
  • Check the “terms of services” and “privacy policy” sections.
  • Complete the reCAPTCHA.
  • Tap on the “Sign Up” option.
  • The site will send a verification code to the specified email.
  • Open the mail and complete the registration process.

Account Login Process

  • Reach the official Shrimpy website.
  • Go to the top-left section.
  • Tap on the “Login” option.
  • Submit the login credentials, i.e., email and password.
  • Complete the reCAPTCHA.
  • Click the “Login” option.

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Shrimpy Fees

Shrimpy.io offers a free version of the platform to users. There is also a free account/demo account for users to assess the crypto trading bots. However, there are some paid memberships and fees that charge money. Buying the membership is not mandatory, but crypto traders cannot avoid the fees under some circumstances. Here are the different types of fees charged on Shrimpy:-

Premium Leader Fees

These are additional charges that the platform generates when users follow a leader. Leaders can even increase the costs for specific portfolios. The leader fee is not part of any subscription model. Therefore, crypto traders should carefully go through the leaders before following them. The tool charges these fees monthly, and there are two more fees under the section.

Performance Fee

It is calculated based on the profits users earn while following a leader. Therefore, the more profits traders earn, the more percentage leaders get.

AUM (Assets Under Management) Fees

It is charged monthly and depends entirely on leaders. If they decide to levy a 1% AUM fee, followers need to pay 1% of the portfolio to them.

Flat Dollar Fees

It ranges from one dollar to a thousand dollars. Shrimpy charges the fee when traders follow leaders. If customers follow additional portfolios, they pay more charges.

Shrimpy Crypto Trading APIs

Trading API

Shrimpy’s trading API helps developers execute transactions on multiple exchanges. It supports market orders, intelligent order routing, and limit orders. The orders are placed with precision and speed to help the developers. Depending on individual skills, the APIs can generate different results.

Smart Order Routing

The API quickly optimizes trading procedures using intelligent order routing. First, it assists developers in specifying assets they want to buy or sell. Then, the platform evaluates possible routes regarding the asset’s trades. Shortly, it provides the best possible market price for the asset.

Live Data API

The API helps Shrimpy maintain its market relevance. Without live data, no trader can make viable decisions. That is why the tool offers multiple endpoints to access the latest market data quickly. There are two options; REST API endpoints and WebSocket feeds. The former is helpful for mobile apps and infrequent trading. Contrarily, the latter is helpful for high-frequency trading. It can be used for rebalancing strategy and even threshold rebalancing.

Historical Data API

Historical data can reveal many tendencies and patterns. If read correctly, users can earn hefty profits through them. Shrimpy’s historical data API goes back to 2012 to offer extensive trading data. Using the API, customers can create an investment strategy and execute trades to enhance their entire portfolio.

Shrimpy Universal Crypto Exchange APIShrimpy Universal Crypto Exchange API

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How Easy Is Shrimpy to Use?

The reason why Shrimpy reviews rate it positively for new traders is its simplicity. Its trading bot offers a clean and straightforward, user-friendly interface. The web-based app is visually pleasing and straightforward to use, even for beginners. Users can set the tool and utilize features like spread and slippage instantly. Its portfolio management applications allow you to manage your digital assets simply. It even offers crypto trading bots to help users make a sensible trading crypto strategy. Despite its apparent usability for new traders, experienced users also find Shrimpy handy.

Shrimpy Security

The platform offers esteemed security proceedings to users. It deploys features like two-factor authentication/2FA and API encryption. The tool encrypts all exchange API keys in use, leaving no room for data breach and interception. Shrimpy secures access with developer APIs to help users withdraw funds. Its official website is backed by HTTPS (SSL), offering secure proceedings for every user. Moreover, it only maintains the ability to make trades and read data so that no one can remove the funds from the platform.

Shrimpy Review - Security Measures of ShrimpyShrimpy Review – Security Measures of Shrimpy

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Supported Exchanges by Shrimpy

There are currently 16 exchanges supported by Shrimpy. It plans to add more in the future. Here is the list of crypto exchange support:-

  • Kraken
  • Binance
  • KuCoin
  • Binance US
  • Huobi Global
  • Bittrex
  • Bibox
  • Gemini
  • Bittrex International
  • BitMart
  • OKEx
  • HitBTC
  • Bitfinex
  • Bitstamp
  • Coinbase Pro
  • Poloniex

Its major exchange compatibility does not necessarily reflect its trading game. The supported exchanges Shrimpy team is constantly working on adding unlimited exchanges present in the crypto space.

Shrimpy Customer Support

No Shrimpy review is complete without mentioning its customer support. The platform dedicates a support team to provide quick solutions to users. There are multiple ways to contact them, like email ([email protected]) and a live chat. As a result, most issues are resolved within hours, and even Shrimpy’s CEO indulges in the process. 

Shrimpy Review: Conclusion

Shrimpy is an esteemed cryptocurrency exchange software bot. It can be used by professional and novice traders alike. Its automated portfolio management and rebalancing make the platform stand out in the market. It offers esteemed security with features like API encryption and 2FA. The platform excels in portfolio automation as it supports portfolio tracking, portfolio allocation, and long-term portfolio growth.

Shrimpy’s trading automation helps users during crypto trading and turns them into successful traders. Despite being an unregulated platform, it has not faced any security breaches. Traders can even create a cryptocurrency strategy with its esteemed set of cryptocurrency tools. With live chat support and a referral program, it offers a quality trading experience. Developers can even build custom trading bots, making Shrimpy a safe and reliable platform to use.

FAQs

Is Shrimpy Legit?

Yes, Shrimpy is a legit trading bot that helps users automate their portfolio rebalancing. While it is not regulated, it still offers security services.

How Do You Use a Shrimpy Bot?

To use the Shrimpy bot, create an account on its website. Now, allow the bot to assess any of the 16 exchanges it supports. The process is automated, and users do not need to do anything. 

What Is Shrimpy Used for?

Shrimpy is used to rebalance trading portfolios and develop customized trading bots. Its API key can be used to improve profit margins and create custom indexes.

Is Shrimpy Free?

Yes, Shrimpy is free to use. But there are additional fees and subscription models that incur charges.

Does Shrimpy Have a Demo Account?

Yes, traders can use a free demo account on Shrimpy to understand the platform and its usage.

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