Shrimpy Review

Shrimpy Review

Robert McDougall 

January 2, 2023

Cryptocurrency

People who made their fortune in cryptocurrencies did not do so as easily as their stories might suggest. Success in crypto trading requires years of experience, chart and market reading skills, patience, among others. 

If you want to explore the crypto trading industry and earn a considerable income but do not have the required time and extensive skill set, what do you do? Shrimpy could be the perfect fit in introducing you to automated or social trading and giving you the option to manage your portfolio easily and efficiently.

Shrimpy is basically a crypto portfolio management service that expanded to social trading in order to bring even more ease for users. Launched in 2018, the platform is definitely not the oldest but has always aimed to construct a unified portal for cryptocurrencies that users can easily access to manage their assets with ease. 

With Shrimpy, you can connect all of your favorite exchanges and crypto wallets and access the portfolio which is spread across a single place. The best thing is you can also social-trade on Shrimpy and follow top traders to help you profit in the market. No need to spend hours of your day reading the charts or the news – everything will be handled by the professional trader you are following. If you are a professional trader, you can also become a leader on the platform and earn commissions along with the trades. 

It’s simple to get started with Shrimpy. Just sign up with your email address and get started instantly by connecting your accounts with the platform.

Shrimpy Pros and Cons

Pros
  • Connect up to 25 exchange accounts
  • A massive number of social traders are available to copy
  • Become a leader and earn commissions
  • Manage up to 10 portfolios per exchange
  • Backtest, optimize, rebalance, and manage
Cons
  • Enterprise plan is very expensive
  • Slow customer support

Shrimpy Features

  • Different price plans with demo
  • Follow a variety of social traders
  • Connect over 25 exchanges and wallets
  • Spot trade with ease
  • Lead your own strategy and earn
  • Smart trading terminal with dashboard
  • Rebalance your portfolio
  • Backtest your strategies
  • Learn and grow with the academy
  • Safe and secure system

Shrimpy Pricing

  • Starter: $19
  • Professional: $79
  • Enterprise: $299

Shrimpy-Supported Crypto Exchanges

  • Binance
  • Binance US
  • Bittrex
  • Coinbase Pro
  • Bittrex Global
  • Gate.io
  • Gemini
  • Huobi Global
  • Kraken
  • KuCoin

Shrimpy-Supported Crypto Wallets

  • 1inch Wallet
  • Coinomi
  • Ellipal
  • Guarda
  • Huobi Wallet
  • Julwallet
  • Ledger Live
  • Metamask
  • Rainbow
  • SafePal
  • Spatium
  • TokenPocket
  • Unstoppable

What does Shrimpy do, and how does it help traders?

Shrimpy is a crypto portfolio manager that makes it easy for traders and investors to manage their funds and access them. If you have spread your portfolio across different exchanges and wallets, it can be really troublesome to log in to all of them when you need to access your funds to trade. Shrimpy enables you to access all of your funds in a single place, execute trades and open positions, backtest strategies, copy traders, and manage everything without troubling yourself with countless exchanges and wallets. Shrimpy has a simple dashboard where users can connect multiple exchanges and wallets, manage their portfolios, and transfer funds across with ease. The platform also helps traders by rebalancing their portfolios with automation features and functions.

You can copy trade through a variety of professional traders that are always available to provide their services. Shrimpy does not only help you manage your funds but also helps you automate your experience and copy professional traders to profit in the market.

Shrimpy Features

Connect over 25 exchanges and wallets in one place

A crypto portfolio manager won’t really be much of use if it does not allow users to connect several exchanges and wallets to the dashboard. Shrimpy allows users to connect over 25 exchanges and wallets and access their portfolios in a single place. The best thing is Shrimpy supports all the popular names, including Binance, KuCoin, Coinbase, and even the most popular crypto wallets like Metamask so that the majority of crypto traders and investors can easily use their services.

Multi-portfolio management for each exchange

This Shrimpy feature enables users to manage multiple portfolios of a single exchange. So even if you have connected only one exchange to your Shrimpy account, you can easily break the portfolio available there into multiple pieces and manage them separately as per your preferences. You can do the same for each exchange you connect with your Shrimpy account, and the platform allows you to have up to 10 portfolios per exchange, depending on the plan you have chosen.

Rebalance and automate your portfolio

Rebalancing your portfolio can be crucial if you do not want to lose funds by investing in the wrong asset or allocating a bigger portion to a currency that is not worth investing in. The smart rebalancing feature of Shrimpy allows you to rebalance your portfolio precisely using the smart routing engine. The assets in your portfolio are traded automatically in a set time period to allocate the original percentages of the assets.

You can also explore further automation features like auto spread/slippage control, threshold rebalancing, dollar-cost averaging, and a few other options to fulfill the set demands.

Smart trading terminal and dashboard

You can quickly, easily, and efficiently swap your assets in and out of your portfolios – thanks to the smart trading terminal provided by Shrimpy. You are provided with a dashboard consisting of each and every detail regarding the portfolios, exchanges, and wallets you have connected. Automation, rebalancing, or management – everything can be done from the dashboard without any long-form procedures or complicated options.

Follow social traders and copy trades

If you want to put everything on autopilot and let other traders trade on your behalf, you can check out the social trading options offered by Shrimpy and enjoy a whole new world of automation. Shrimpy has a long list of top traders that you can copy and where you can check out their statistics. You can take a look at their win rate, the number of followers, 1-day and 1-week win profit, and even a performance chart to evaluate how they have performed over the past few months. This will allow you to make the right decision and copy the trader that is best for your needs. The best thing is there are free and premium social traders available to choose from, depending on your budget. Do keep in mind that every trader comes with their own unique skill set.

Become a leader and charge your community

Instead of being a copier, you can become a leader on Shrimpy and lead a whole community to success with your own strategy, algorithm, and experience. You can charge each of your followers separately and earn a side income while you earn through trading. But if you want to create a big community that follows you, you have to create a proven history first so that you can win their trust. If you have a bad record or a greater number of lost trades, it will be hard for anyone to trust you with their money and follow you.

Shrimpy Pricing Plans

There are three different price plans offered by Shrimpy that you can opt for depending on your needs, budget, and expertise. Take a brief look below to find out how those plans work.

Starter Plan ($19/Month)

This is the most basic plan that comes with a few but useful premium features along with some basic features. It is best for those who are just starting out their career as an investor or want to take things slow. With the starter plan, you get full access to the smart trading terminal offered by Shrimpy, along with the spot trading option. Your balance is refreshed every 15 minutes, which is certainly not the fastest in the industry, but quick enough to keep you updated with everything in a timely fashion. 

You can only have three portfolios per exchange as compared to many that come with the most expensive plan offered by Shrimpy. You can also connect up to 5 exchanges at the same time and access your portfolio among them in an instant at a single place. All the basic features and functions like tracking, strategy automation, backtesting, social trading, and rebalancing are offered in this plan, and you can access them without any restrictions.

Professional Plan ($79/Month)

If you are a professional trader who has been trading for months or years and won’t ever compromise on anything, then this is the plan you should get. With this plan, you get every basic feature that is mentioned above, but you get more premium benefits like a 5-minute balance refresh, five portfolios per exchange account, and up to 10 exchange connections without any problems. You get full access to APIs to manually automate your experience and play with the tools just as you want.

Enterprise ($299/Month)

I only recommend this plan for companies, institutions, or whole organizations, which provides a seamless experience with priority support to fulfill your needs. Starting with the 1-minute balance refresh, you will never have to worry about missing anything from your portfolio. You can connect 25 exchanges and wallets with this plan and have everything over a single dashboard to manage easily and quickly. You can have up to 10 portfolios with every single exchange to diversify with ease.

Demo

If you want to get an idea of how things work at Shrimpy before paying anything for the platform, there is an option to try out a demo and get access to the major features of the platform. You get a few hundred dollars of virtual money spread across different cryptocurrencies. You can then try out all the automation features, social trading options, and whatnot without even considering paying from your pocket. When you are satisfied with everything, you can get a plan, connect your exchanges, and get started for real.

Shrimpy Coins and Exchanges Compatibility

Shrimpy supports over 100 cryptocurrencies and 25 exchanges and wallets. The number of cryptocurrencies supported also depends on the exchanges you have connected and what assets you have in those exchanges.

Shrimpy supports almost all the famous and biggest exchanges and crypto wallets. You can connect your Binance account, Metamask account, Coinbase account, Bittrex account, and many other accounts with Shrimpy. To check out the full list, you can take a look at the top and see the full compatibility.

Shrimpy Ease of Use

Shrimpy is not a complicated platform at all. They are probably one of the very few platforms that have kept things straight to the point and precise. All the features are mentioned right on the front of the platform, and you can understand each and everything right from there. Shrimpy even provides a demo account so that users can experience how things work and even initiate trades with the virtual balance.

To get started, you simply have to provide your name, email address, and password to create an account. You can opt to play with the demo account or get started with the paid plan. Shrimpy provides all users with a dashboard from where they can access and manage everything. This makes it really simple for everyone to manage their portfolios and automate with the social trading option.

Shrimpy has a separate learning and academy section where you can find countless articles and guides to familiarize yourself with the basics and advanced aspects. You can learn about cryptocurrencies, trading, social copying, automation, and much more, and even search your queries to get particular results.

Shrimpy Customer Support

Shrimpy has no live chat option or no phone number available that you can dial directly. The only way to get in touch with them is to write a message and fill out the form through the button available on the lower right corner of the platform. Or you can directly send them an email, and Shrimpy officials will respond as soon as they can. Expect to wait a few hours before someone gets back to you.

Shrimpy Public Reviews

Shrimpy has over a hundred reviews on one of the most popular reviewing sites, TrustPilot. But the average rating they got is 3-stars, which is certainly not promising, considering the competition. Most users complained about their automation features that stopped working at one point. Shrimpy has to work on improving the bugs in their automated features so that the users’ portfolios can run smoothly.

Shrimpy has a few reviews on other reviewing sites, with ratings ranging from 3.5 to 4.5 stars. Again, most users were dissatisfied with the automation.

Shrimpy Reliability and Trustworthiness

Established in 2018, Shrimpy was built by enthusiasts from different nations with a shared vision. The platform set some core values right at the start that they have been following since and has helped them become pretty successful. Shrimpy might not have many media endorsements, but they have partnered up with some big crypto exchanges, which proves their integrity.

Shrimpy is very reliable and secure as they use all the latest security features. As per their claims, every API is securely encrypted by FIPS 140-2 validated hardware to fully protect the keys. They also offer secure ways for users to protect their accounts. You can enable 2FA verification to minimize the chances of someone else accessing your account. As the platform does not require users to deposit funds into their Shrimpy account and only utilizes the funds already in the crypto exchanges, getting your funds hacked is not possible.

What makes Shrimpy different from the competition?

Shrimpy is unique because they are not just a social trading platform or a service offering automation tools. The platform offers a complete management suite that allows you to manage your funds across different exchanges with ease. On the other hand, competition like 3Commas are trading-focused platforms that have also added bots for users to fully automate their experience. But you cannot really manage multiple portfolios or connect multiple exchanges or wallets at platforms like these as you can do on Shrimpy.

Shrimpy also has a straightforward interface along with an easy-to-understand process. You can either copy a trader or explore advanced tools through the dashboard to access some automated tools. Many automated trading platforms require the users to deposit money to get started whereas Shrimpy uses the funds that you already have on different exchanges or wallets. Shrimpy also offers a free trial or a demo mode for users to try everything out, which is not possible on platforms like HaasOnline. You can familiarize yourself with all the features and then pay actual money to get started.

Popular alternatives to Shrimpy

Of course, Shrimpy is not the only choice when it comes to automated trading services on the internet. There are a few good options mentioned below that you can also check out to see if they would suffice your needs.

  • Cryptohopper (read review) is a pretty similar platform to Shrimpy. They have tons of automated trading options like bots, social trading, AI trading, DCA, and much more. You can also manage several portfolios at Cryptohopper and easily allocate funds, trade, and automate with ease.
  • 3Commas is more of a bot-focused crypto trading platform particularly designed for professionals due to its advanced features and functions. There are even several types of bots and automation options to make trading easier. With their trading terminal, you can experience a whole new level of customization and free-hand trading.
  • HaasOnline (read review) is a good fit for users looking to join an automation platform with to-the-point features excluding complicated terms and options. It is built for both advanced and amateur traders. You can use ready-made bots or design your own through the HaasScript editor and drag-and-drop builder.

The Final Verdict

There are not many platforms that understand what web 3.0 users demand or need. There can be several reasons why you would want your portfolio spread across different exchanges or wallets. But managing them all at once can be very difficult. Shrimpy offers the ultimate solution. The platform allows users to efficiently manage their portfolio and even try social trading to earn income while putting everything on autopilot. With its beginner-friendly interface and easy-to-understand features, anyone can get started with Shrimpy. You can also use their demo account to try their features out, play with the virtual funds, integrate APIs, before making a final decision.

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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