How To Manage A Cryptocurrency Portfolio (Updated 2020)
Choose the easy way to manage your cryptocurrency.
Portfolio management in the cryptocurrency space is still a cumbersome process. Logging in to each of your exchanges to execute trades, manually entering positions into a tracker application, and staying up into the wee hours of the night scared your portfolio will crash if you blink an eye.
It’s time to put the past behind us. Stop manually executing your crypto portfolio strategy and start simplifying the way you automate your portfolio. It doesn’t need to be time-consuming or costly.
Shrimpy is the portfolio management application for the busy person. Shrimpy adapts ideas from smart investors outside the crypto space to introduce simple automated strategies that can help increase returns. We created Shrimpy as the solution to a problem we faced. We wasted countless hours researching which exchange has which cryptocurrencies, tracking our investments, and trading to keep our portfolio in balance. Shrimpy is the answer to this problem. It’s completely available to the public, simple to get started, and doesn’t need to cost you an arm and a leg.
Spend your time with your family, friends, or researching assets, not managing your portfolio, constantly trading, and stressing about keeping track of how your assets are performing.
The Shrimpy Way
Shrimpy has two main advantages: ease of diversifying crypto assets and automatic rebalancing for decreased risk. You decide your allocations and Shrimpy takes care of the rest. Simply deposit crypto on an exchange, use a simple interface to select which cryptocurrency allocations you want in your portfolio, and monitor your portfolio over time.
Within minutes anyone can go from owning one crypto asset to owning hundreds — without logging into multiple exchanges or confusing interfaces.
For instance, let’s say you own Bitcoin, but you want to own Bitcoin, Ether, Litecoin, and Monero. Using our simple interface, you can enter the percentage of each that you want: for instance 25% Bitcoin, 45% Ether, 10% Litecoin, and 20% Monero. Shrimpy will automatically calculate exchange rates and perform trades to create your portfolio. Shrimpy then rebalances your portfolio automatically to keep your chosen allocations.
Developers can tap into our infrastructure with the Universal Crypto Exchange APIs.
With over seven hundred supported crypto assets, this means you have a large selection of the best investment options that are available. Stripping away the necessity to bounce from exchange to exchange chasing the new hottest coin, everything will be available in a single place. The expectation in the future is that we will be able to support hundreds of more crypto assets as we expand the platform.
You can read more tips on how to create a strong portfolio by checking out our previous article here:
10 Tips for Creating a Killer Cryptocurrency Portfolio
Automatic Rebalancing
Shrimpy integrates portfolio rebalancing which in our tests can improve returns by as much as 305% while reducing risk. This strategy is time-tested and has been used in stocks and bonds for many years. Unfortunately, nobody has brought an automated way of rebalancing to crypto-assets yet. Enter Shrimpy automated rebalancing.
Actual picture of the Shrimpy team trying to figure out how to manually rebalance our portfolios
Rebalancing takes advantage of the cyclical nature of the market by trading coins from those that did well over the period, to those that performed poorly. Basically it puts selling high and buying low on auto-pilot. The end result is that each coin represents your chosen percentage of your portfolio after each rebalance. Since this all happens automatically, there is no additional effort required compared to buy and hold.
If you would like to learn more about rebalancing, check out our other articles here:
Portfolio Rebalancing for Cryptocurrency
Rebalance vs. HODL: A Technical Analysis
Dollar-Cost Averaging
Dollar-cost averaging is a portfolio strategy that allows users to deposit funds into their portfolio and automatically distribute the funds into the desired allocations.
Shrimpy automates this strategy by detecting when a deposit to your exchange account takes place and execute trades in order to trade those funds to the appropriate assets in your portfolio.
That way you never again need to manually execute the trades necessary to implement a dollar-cost averaging strategy. Simply select the portfolio allocations you want to maintain, deposit funds on a periodic basis, and Shrimpy will take care of the rest.
Learn more about dollar-cost averaging.
Smart Order Routing (SOR)
The cryptocurrency markets are volatile. It takes incredible patience and care to execute trades from one asset to another in order to capture the best trading opportunities. With Shrimpy, you never need to worry about this again.
Shrimpy automatically executes trades intelligently by leveraging our smart order routing infrastructure. That way you can simply let us know what asset you want to buy, what asset you want to sell, and we will do the rest.
Each trade will be carefully calculated to find the best prices across different trading pairs. That way you always get the most out of every order.
Learn more about Smart Order Routing.
Team
We are a small team of engineers and product managers located in the San Francisco Bay Area. Our members originate from Amazon, NASA, Samsung, and Boeing. We have been involved with cryptocurrencies since December 2012. This began with mining DOGE on our custom rigs. Eventually, we began trading and developing custom software to manage our portfolios.
Our Mission
We believe crypto assets are going to disrupt the world, however, we aren’t there yet. Managing a diverse cryptocurrency portfolio is complicated and adoption from everyday people is still impractical. The process of finding exchanges that accept fiat, transferring holdings to crypto exchanges, allocating balances, and maintaining your portfolio is cumbersome. This complexity has become one of the largest barriers to entry, preventing millions of people from getting into the market.
By focusing on ease of use for new cryptocurrency users, Shrimpy will change the way people manage their cryptocurrency portfolio. The end vision for our application is one where you can deposit fiat currencies directly onto our platform, allocate a diverse portfolio in minutes, and monitor every aspect of your portfolio in real-time. All of this will be baked directly into the Shrimpy platform, so there is never a need to use third-party tools that require significant amounts of work to maintain.
We believe cryptocurrency should be for everyone. The current coin distribution is centralized to those users who were early adopters for the technology. This should not be the goal of cryptocurrencies. We should strive to put these assets in the hands of every individual regardless of status or circumstance. The only way to do this is to make it easily accessible. Shrimpy supports this vision by providing portfolios that are easy to manage and allocate, by setting no barriers to entry, and by increasing the availability of a diverse set of coins. This will allow more people to take advantage of this growing asset class for everyone’s benefit.
Our Ask
Shrimpy is an account aggregating platform for cryptocurrency. It is designed for both professional and novice traders to come and learn about the growing crypto industry. Trade with ease, track your performance, and analyze the market. Shrimpy is the trusted platform for trading over $13B in digital assets.
Follow us on Twitter for updates!