Shrimpy is a social trading platform that can help you balance your portfolio. You will find unique features, a user interface that is interactive, responsive customer service, and other unique features in Shrimpy. Users can create custom cryptocurrency index funds and copy trading strategies with Shrimpy. You can automate your rebalancing. The tool supports 30 most popular cryptocurrency exchanges. New ones are added every day. Its distinctive selling points include copy trading and social trading. Is Shrimpy safe? This Shrimpy Review will examine its pricing, operation and other features.
What exactly is shrimpy?
Shrimpy was created in 2018 to be an automated trading platform for cryptocurrency trading. It has predefined signals and automatic functions. The Shrimpy website allows you to access this platform online.
Shrimpy allows traders to manage their portfolios and automate. It can also index and analyze cryptocurrency market data.
Backtesting is another feature that allows you to test how your strategy will perform on the platform before you actually implement it.
To use the platform, all users must sign up and connect to an exchange account. They can then trade immediately using the system.
This bot is the most popular cryptocurrency trading platform. To make your trades more profitable, you can ask for suggestions from other users.
Top Recommended Platforms
78% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Trading forex or CFDs on margin involves a high degree of risk and may not be suitable for all investors. There is a possibility that you may suffer a loss equal to or greater than your entire investment.
CFDs are complex instruments and involve a high risk of losing money quickly because of the leverage effect. 68% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
What is Shrimpys’ Reputation?
Shrimpy can be used to compare other trading services. Although it isn’t well-known in crypto, this platform still has great potential. The trading bot platform is gradually but surely gaining popularity with both novice and experienced day traders.
What does Shrimpy do?
Customers look for Shrimpy app reviews because of its functionality. It is well-known for its ability to automatically rebalance portfolios. This is the process of realigning an asset’s weight within a portfolio. This involves gradually buying and selling assets to maintain desired risk/asset levels. Both new and experienced crypto investors will find trading simple with the platform.
Copy Trading & Social Trading allows customers to use the service for copying top traders’ strategies. This service is free for novice traders and it’s very helpful. Experiential traders will be able to benefit from the service, as a copy their portfolio strategy can earn them 4 dollars per month. Holders get Shrimpy for free. For an annual plan, professionals must pay 13 USD per calendar month.
You can collaborate investing using tools such as index automating. It is simple to use, and the functionality it offers more than makes up for its price. This is why most professionals prefer the platform to other options.
Which Exchanges Does Shrimpy Support?
Here is a list of supported exchanges:
- Huobi
- Gemini
- Binance
- Bibox
- Bitfinex
- Coinbase Pro
- Bittrex
- Bitstamp
- Bitmart
- Bittrex International
These exchanges do not have any restrictions regarding cryptocurrency trades.
Shrimpy Pros and Cons
| Pros | Cons |
| Both the tool and the crypto bots can be used for free. | It does not offer crypto signals. |
| Multifunctional trading platform that provides greater security. | Financial security cannot be guaranteed 100%. |
| Social trading tools can be used by users to replicate successful trading strategies. | Referral programs have a limited validity |
| Portfolio automation rebalance. | No trading terminal |
| Provides educational guides regarding digital currencies. | It does not offer scripting for trading robots. |
| It is easy to understand and use | No mobile app for users. |
| Multi-currency support for managing your cryptocurrency. | |
| Traders can use a demo account to manage and test portfolios. | |
| Support for dollar-cost average and threshold balance |
Shrimpy Features
Shrimpy has many wonderful features. These features include Portfolio Management and Trading Automation. Here are detailed descriptions of each feature and sub-features.
Portfolio Management
While trading crypto was once about the transaction, portfolio management is becoming more important for crypto traders who want to become long-term investors. Shrimpy provides excellent portfolio management and enhanced risk management. Shrimpy’s interaction and automation capabilities are excellent additions.
Shrimpy is a unique portfolio manager tool. It doesn’t use indicators or trading signals and it doesn’t manage user portfolios. Rather it uses automation and the basic risk management strategies of rebalancing and dollar-cost-averaging to keep portfolio risk in check. It provides performance tracking that allows you to track how your investments are performing.
With Shrimpy, you can create your own crypto index using the parameters of the smart Indexing tool. This allows traders to track performance and access index funds.
Shrimpy offers a social trading feature called “social copy trading” that allows users to follow strategies and trades made by other traders. This feature is easy to use. Shrimpy will automate every trade that is made by the trading manager.
Index Funds
As mentioned above, Shrimpy has an integrated indexing tool that allows users create and manage their own indexes. Shrimpy’s indexing software features a wide range of parameters, making it one of the most powerful tools in crypto portfolio software. It is possible to create and weigh an index.
This index includes 26 cryptocurrencies. It is weighted on market capital. The maximum allocations of any asset are not greater than 20%. Image via Shrimpy blog.
You can create an index using Shrimpy either manually or automatically. It can also be based on equal-weighted or market capital-weighted indicators. Users can then choose a rebalance day for their newly created crypto-index portfolio.
Performance monitoring
Multiplying your exchange accounts can make it difficult for you to monitor your portfolio’s performance. Shrimpy’s intuitive dashboard allows you to easily monitor the performance of your portfolio across all exchanges. This tracking is essential to measure your profitability. Top traders use Shrimpy to help them make important trading decisions.
Portfolio Automation
Shrimpy’s integrated trading algorithm makes it easy to automate your portfolio. Shrimpy is a crypto-based solution that makes it simple to automate your portfolio. Shrimpy doesn’t require complex statistics or indicators. It employs long-term strategies like portfolio rebalancing, dollar-cost-averaging, and portfolio-cost averaging to keep your portfolio in balance and under control.
Portfolio Rebalancing
Portfolio rebalancing is Shrimpy’s most important automation feature. This feature is what Shrimpy does to help you reduce risk and increase your profit margins. This tool can be automated to help you profit from market movements.
Portfolio rebalancing is not a new concept. Equity traders have used it for decades. It is becoming more popular among mature crypto traders who find it beneficial in managing their portfolios. Portfolio rebalancing is the process of buying and selling assets in order to reach a target allocation. These trades are made automatically by Shrimpy to ensure that your portfolio is at the desired levels.
There are two options available to users who wish to rebalance accounts:
- Threshold Rebalancing: This strategy involves rebalancing the portfolio when an asset moves beyond the allocation by a predetermined amount. This strategy can lead to higher trading costs, as it triggers more trading events.
- Periodic Rebalancing: This simple technique examines your portfolio at regular intervals (monthly, weekly, daily, etc.). The portfolio is rebalanced to achieve the specified asset percentages. Trading fees can be controlled if periodic rebalancing occurs on a weekly or more frequently basis. It can also increase market risk.
Backtest
Shrimpy also includes a back-testing tool that allows you to determine if an index fund or strategy has performed well over time. To see how any customized strategy, index, portfolio or portfolio performed over the last five years, you can look at past data. You can use this information to help you create a profitable trading strategy using Shrimpy.
Social trading
Another distinctive feature of Shrimpy is its social trading feature. This feature allows anyone to copy trades made by “lead” traders, potentially making some profits. Shrimpy doesn’t share signals and indicators like other platforms. It is instead focused on the traders who use it. Traders have the option to become leaders, form groups of like-minded traders, or simply follow the trades that interest them.
A new trader can build his portfolio by following trades of more experienced traders. The automated process allows them to keep their portfolios current whenever the portfolio of the trader they are following changes. Shrimpy makes it easy to follow successful traders’ trading strategies.
For every person who implements the trading strategy, you can earn $4/mo. You can now have 10 followers to earn $40/mo. You can aim to reach 100 followers and earn $400/mo. There are no limits on the potential rewards for traders who succeed.
Shrimpy’s social trade feature allows you to start trading cryptocurrency. They can learn and be more profitable from successful traders they follow.
Shrimpy Pricing
Shrimpy.io offers several pricing options. For spot trading, the Starter Price is $19 per month. Connects to 5 Exchanges and automates 3 Accounts. Requires a 15-minute refresh.
The $79/month professional package offers five-minute refresh options, connections with 10 exchanges, 5 accounts automatization, optimization with rebalancing, and 5 accounts automation. This plan will soon offer futures trading.
Enterprise plans start at $299 per month and include 1-minute balance refresh, 10 account automatons and the ability to connect up to 25 exchanges. Prior help and a server are also included.
These plans are affordable and offer many options. These plans don’t offer any access to extra features or access to more than 30 exchanges.
Shrimpy Review: Conclusion
Shrimpy is an excellent tool. However, novice investors will not find many reviews or testimonials for Shrimpy as it’s still new. It is difficult for novice investors to make informed decisions about cryptocurrency trading bots. However, everyone can decide what they want. You can also find similar features in other cryptocurrency trading robots like Shrimpy. These include Bitsgap and Zignaly as well as Coinrule, 3commas, and Quadency.
