The web’s most detailed Shrimpy review: With 600+ digital assets available, this cryptocurrency social platform is a frontrunner when it comes to crypto portfolio rebalancing and automating your allocation. Shrimpy lets you become a leader or follow the leaders of the market on a very intuitive and easy-to-use platform. Our expert trader took on the job to make a complete review of Shrimpy and find out what makes this platform tick. Read our review of Shrimpy to learn all there is to know about this platform.
In this section of our Shrimpy review we highlight 6 special features that deserves extra attention.
Shrimpy is a US-based cryptocurrency social trading platform for all traders of all levels. The company behind the project is called Benthos Labs Inc and they founded the platform in 2017 with the main office is registered at 2957 Bowers Ave, 123, Santa Clara, California 95051, United States.
The main goal of the team behind Shrimpy is to make cryptocurrency portfolio allocation, rebalancing, and backtesting simplified. The main feature of Shrimpy is the copy trading and social platform that lets traders connect, share, and copy other already profitable traders. The best thing is that everything is automated and beginner-friendly.
Why use Shrimpy
If you are into automated, robot, or bot trading for cryptocurrency, then you are going to love Shrimpy. This platform lets you automate your strategies and connect with several different cryptocurrency exchanges. Depending on your subscription plan you can easily connect up to 25 crypto exchange accounts, automate 10 crypto portfolios, and keep a 1-minute balance refresh on your account.
What we like most about Shrimpy is the user-friendliness interface they have created. It’s dead easy to get started, connect your accounts, and start automating your own cryptocurrency portfolio. Traders who are looking for a modern and easy-to-use social crypto platform should definitely give Shrimpy a try for their money and start with a demo account.
Trading on Shrimpy
The charting package on the platform is from Tradingview which guarantees outstanding chart performance without any lag. Shrimpy is a cryptocurrency portfolio management tool that lets you rebalance your accounts and allocate the perfect amount of risk and capital for your own tolerance. It’s very simple, it’s all about the social aspect of being a leader or following a leader.
When you get to the platform you can decide if you want to create a strategy for others to follow or if you want to invest your own capital and follow another already profitable trader. Or perhaps do both? It’s all up to how you want to allocate your digital asset and play the markets as money managers do in the traditional financial markets.
Regarding the Shrimpy trading fee: The platform itself doesn’t charge its own flat trading fee. Depending on what exchange you have connected to your account you will be paying the maker and taker fee of the exchange. For example, if you are connected to the Binance exchange, your active trading fee will be 0.10%.
Payment methods and limits
Shrimpy supports these payment methods: PayPal, Visa, Mastercard, American Express, DISCOVER, Google-Pay, and cryptocurrencies. The minimum deposit is $15 and that’s the lowest price for the first subscription plan you can buy. The withdrawal limits depend on the exchange you connect to.
Things we don’t like
Something that would make Shrimpy a fantastic platform is a live chat. I had a lot of questions straight of the bat when I got onto the platform and I can imagine that new traders will too. Once they include this support feature we will make sure to update this review.
About the special features on Shrimpy
Shrimpy is a social cryptocurrency platform with a lot of great features for social traders who are looking to invest capital with others or trying to get a good following on their own top strategies. One of the best features of this platform is the automated cryptocurrency portfolio rebalancing tool that lets you manage your portfolio and allocate at your own risk tolerance.
The pricing plan for using Shrimpy is very beneficial. Starting at $15/month you will get access to the spot trading and the possibility to automate 3 portfolios per exchange and connect up to 5 exchange accounts. If you want the full experience of Shrimpy, then $299/month will give you access to dedicated server clusters, 1 min balance refresh, automate 10 portfolios per exchange, and connect up to 25 crypto exchange accounts.
This cryptocurrency social platform lets you copy other already profitable crypto-traders automatically. Simply choose from the list of traders available and let them trade for you. This is a great way to manage parts of your portfolio by actively trading on your own. Social trading is also good for experienced traders who are making money in the markets. If you are a profitable trader you can sign up and benefit from the extra gains of your followers. Something to take note of when it comes to the copy trading on Shrimpy, you can always set a dollar amount stop-loss when you copy another trader. For example, if your account size is $500, you can set a stop-loss for the whole account to get stopped ut if it drops to $400.
The backtesting tool on Shrimpy is pretty unique where you can see the effect of the portfolio rebalancing tool. You can optimize your portfolio and improve your performance by choosing the right amount of rebalancing. Compare and tweak with the help of historical data on a very easy-to-use charting interface. Gains and percentages will be visible to easily recognize if your backtesting has been effective.
Connect Several Crypto Exchanges
You are able to connect your account to these crypto exchanges: KuCoin, Binance, Bittrex, Bittrex Global, Coinbase Pro, Binance US, Kraken, Poloniex, Gemini, Bibox, Bitmart, Huobi Global, HitBTC, Okex, Bitstamp, and Bitfinex. You can automate, backtest and allocate your digital assets to all these exchanges depending on where you want to trade.
Automate Several Portfolios
If you choose to pay for the Professional or Enterprise subscription you will be able to connect and automate up to 25 active accounts on several different exchanges. Take full advantage of technology and let the computers do the work for you. When you automate different cryptocurrency portfolios, all of them will be rebalanced exactly as you want them to be.
Cryptocurrency portfolio rebalancing is a way for you to automatically increase and reduce active positions by selling gains and buying cheap coins. You can set the portfolios to rebalance every hour or every week, depending on your own preference. Portfolio rebalancing is a traditional tool used by money managers at larger institutions and it’s only right to apply it to your own cryptocurrency investing.
Is Shrimpy safe?
Yes, we consider this social crypto trading platform to be trustworthy. The exchange has a safe track record since 2017 and we have no complaints from active customers.
Is Shrimpy regulated?
No, this crypto exchange is not regulated by any government.
Frequently asked questions
Read the most frequently asked questions about Shrimpy. Find answers without searching the web.
It is a cryptocurrency social trading platform where you can automatically rebalance your portfolio, automate your trades, and automatically allocate your portfolio. You can pretty much put your portfolio on autopilot and let the platform do all the work when it comes to buying and selling digital assets. You can also copy other profitable traders or let other traders copy you.
First, you need to sign up. Secondly, choose the exchange or exchanges you want to connect to your account. This is done with the API tool. Thirdly, when you are connected you can start choosing which coins you want to trade and how you want to allocate your capital. Lastly, choose when and how you want to rebalance your portfolio for maximum gains.
No, you can choose your subscription plan starting at $15/month for the basic version. If you want to use all the tools available on the platform you should pick the Enterprise version which costs $299/month.
It is located in the US with the main office registered at 2957 Bowers Ave, 123, Santa Clara, California 95051, United States.
Since you are connecting your Shrimpy account to other exchanges, all the money you make will stay there. For example, if you connect Shrimpy to the Binance exchange, all profits will stay on Binance and you can later withdraw your funds from there.
In regards to fees, you pay the trading of the cryptocurrency exchange you have connected to. For example, if you connect to Binance your trading fee will be 0.10% since this is the actual trading fee on Binance.
If you have never tried an automated social trading platform like Shrimpy it's definitely worth trying it out for a couple of months. Even if you don't know how to execute a profitable strategy, there are other profitable traders you can copy. This makes the platform suitable even for immediate beginners and of course experienced crypto traders.
Yes, you do. However, this is the only cost when using the platform. There is no extra trading fee charged upon the existing fee from the connected exchanges which makes it rather cheap to use this automation platform in my opinion.
Currently, the platform does not offer a crypto app to automate your strategies.