I recently found a superb tool for automatically managing a cryptocurrency portfolio.

The tool is called Shrimpy and works in conjunction with the Binance or Bittrex currency exchanges (soon to include Coinbase Pro and Kucoin).

It is currently completely free to use, and performs all the asset management on your crypto exchange through the use of API keys.

This means you have complete control of your assets (on the exchage) whilst having the convienience of auto-bot trades performed by Shrimpy.

Here is the official info page on Medium for Shrimpy, and this is the Reddit thread for ShrimpyApp.

All the information you need about the App can be found in these two resources.

Testing Shrimpy With A Live Portfolio

I set up my portfolio on Bittrex, initially with approximately £240 worth of BTC and LTC.

I set up my free account on Shrimpy and connected it to the Bittrex exchange using my API keys – go to the Settings tab:

Linking exchange in Shrimpy

I then added some other crypto assets via Shrimpy's Allocations tab:

Initial crypto asset allocation on Shrimpy

and performed a manual rebalance in Shrimpy (click the Rebalance Now button on the Dashboard), which initiated the auto-trading bot to Sell & Buy assets to fund the new wallets on Bittrex.

I then decided to add some more cryptos, having read that the optimum performance is achieved with around 20 midrange assets.

I also set up the auto rebalancing cycle to 1 hour (i.e. Shrimpy performs an auto-rebalance every hour) as this apparently provides the optimum returns:

Re-allocation of crypto assets on Shrimpy

I performed another manual rebalance to initialise these new asset wallets on Bittrex:

Rebalancing crypto assets on Shrimpy

What I found so amazing – just how easy the whole process was.

The only activities I performed on the Bittrex exchange were to:

  • set up my account
  • initially fund the BTC and LTC wallets
  • create the API keys!

(Note: I could have funded my Bittrex account with only BTC or LTC, but I couldn't decide on my strategy at the time, so I did both! ).

All the graft was being done by Shrimpy!

Here are the result of those initial asset allocations:

Initial results on Shrimpy

As can clearly be seen, I gained a 25.84% increase in my initial holdings, just by performing the first two assest balancing operations!

Tracking the Shrimpy Portfolio

To make things even easier, there is a superb spreadsheet that Trevor Caldwell has created, to track your Shrimpy portfolio. Here is the article on Medium describing how it works, and he even provides a copy of the spreadsheet for your own use.

This is what it looks like:

Tracking a Shrimpy portfolio

Setting it up is really easy, and just requires a separate API being created on your exchange, which links to the spreadsheet.

Finally, here is another article that Trevor wrote, describing how to set up a mobile phone notification, via IFTTT (If This, Then That) when ever a Trade has been performed by Shrimpy. How cool is that!

 

I really hope you found this post useful and informative, oh, and please do let me know how you get on, if you decide to use Shrimpy.

 

Happy re-balancing 🙂

Chris

 

Affiliate Disclosure

The link to Shrimpy contains my personal referal code, however I do not benefit financially from any referals to the app.


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