Shrimpy is the simple portfolio management website for the busy person. Shrimpy adapts ideas from smart investors outside of crypto to introduce simple automated strategies which can help increase returns. We created Shrimpy as the solution to a problem we faced. We wasted countless hours researching which exchange has which cryptos, tracking our investments, and trading to keep our portfolio in balance. We’ve gotten so many questions and people interested that we decided to make Shrimpy available to the public.
Spend your time with your family, friends, or researching your next investment, not managing your portfolio, constantly trading, and stressing about keeping track of how your assets are performing.
Keep track of your investments with simple statistics. Monitor your portfolios performance and easily adjust investment strategies based on various metrics. View how each coin has performed over the past 24 hours, how the percent allocations have drifted, and what are the current values of your holdings.
The Shrimpy Way
Shrimpy has two main advantages: ease of diversifying crypto assets and automatic rebalancing for increased returns and decreased volatility. 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 investments over time. We take security incredibly seriously and have designed all aspect of Shrimpy to be as safe as possible.
Within minutes anyone can go from owning one crypto asset to owning hundreds — without using 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.
Select your allocations with a simple point and click interface, adjust the percent holdings of each coin, and schedule a continuous rebalance for your portfolio.
With over two 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 for how to create a strong portfolio by checking out our previous article here:
Shrimpy integrates portfolio rebalancing which in our tests can improve returns by more than 53% while reducing volatility. This strategy is time-tested and has been used in stocks and bonds for many years — often increasing investor returns and decreasing volatility. 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.
Selecting which assets should be in your crypto portfolio is complicated. With Shrimpy, we have already created the easiest platform to select assets, allocate a diverse portfolio, and manage your cryptocurrency. Today, we are announcing the integration of social portfolios into the Shrimpy application.View the most popular allocations on the platform, follow industry leaders, and develop your strategy by working with the community. Picking assets will never be the same.
This is what you see when you click on a leader in the Shrimpy Social tab. Along with being able to see the leaders allocations and rebalance period, you can also chat with the leader and see the history of changes they have made to their portfolio.
Introducing Follow Allocations
Following allocations is a simple idea. Similar to the way you can follow a person’s tweets, you will finally be able to follow the allocations of your favorite crypto users. Then, with a single click, you can implement the same strategy as these leaders. This will allocate the same portfolio as the leader and follow their future actions. Selecting assets like an industry leader is being reduced to a click.
This is a view of the Shrimpy Social tab. Each card is a leader who is on the same exchange as you. You can follow and unfollow any leader at any time.
Followers will have access to a powerful portal where they can browse leaders who are using the Shrimpy platform. Followers can see the allocations and strategies implemented by these experienced users. When a leader they are following makes changes to their strategy, the followers will be able to see these changes in real time.
Shrimpy will provide leaders a platform to grow their audience, build trust, and implement successful strategies. Communicating these strategies and updates to followers will be easier than ever before.
The cryptocurrency space envisions a future which is open and decentralized. Although there are applications which are navigating towards this vision with trading, we are still a ways away from reliable solutions. Low liquidity, slow transaction times, and convoluted user experiences provide non-ideal situations. This isn’t to say these problems won’t be solved eventually, but at this moment, centralized platforms simply make sense for most investors. As a result, we need to be thinking about solutions to ensure the security of portfolios that are using centralized systems.
Unfortunately, there haven’t been good solutions up until this point. An epidemic of hacks has plagued the crypto space. Investors are faced with a conundrum. Whether they should manage their assets on an exchange, where they can maximize the potential of their portfolio or do they store assets offline and simply HODL. Neither answer is optimal, so making a decisive decision is still a struggle for most investors.
Today, struggle no more. There is a resolution to this difficult decision.
Rebalancing via Cold Storage Coupling
Cold storage coupling for rebalancing is the answer to this problem. When a portfolio is rebalanced, only the delta between the current and target allocation is traded. Since this is generally a small amount, only a limited percentage of the portfolio needs to be maintained online to completely rebalance. The rest of the assets can remain offline. These assets which are held in cold storage can then be considered as part of the portfolio during the calculations for rebalancing. Essentially, pretending the assets are online so all holdings are included during a rebalance. This provides a fair trade off between security, liquidity, and ease of use.
Blacklisting is a simple way of selecting the amount of an asset that should be ignored when performing trades. Whether it’s only a portion of the entire asset balance or the total asset balance, the amount that is blacklisted will be ignored when rebalancing or allocating a portfolio. In the Shrimpy application, this amount will still be visible on the dashboard, so you can still see the full overview of your portfolio.
There are times where you may want the entire asset to be blacklisted. No matter how much of the asset you own, you don’t want any of it to be considered for trades.
In this case, Shrimpy users can simply specify a large amount for a specific asset. Entering an amount that is more than you own will essentially blacklist the entire asset.
Example: You don’t want to ever sell LTC.Solution: Blacklist 100,000,000 LTC.
You now have a complete blacklist of LTC since it’s impossible to have 100,000,000 LTC. The number you chose doesn’t need to be as large as 100,000,000 LTC, just larger than the amount you own.
One caveat with completely blacklisting an asset is that you will continue to buy that asset if you also specify an allocation amount for that asset in your portfolio. The reason is because Shrimpy pretends you have 0% of that asset, due to it being blacklisted. If you allocate 50%, Shrimpy will buy an amount equal to 50% of the remaining portfolio to attempt to reach the target allocation. Then, during the next rebalance, it will see that you have 0% of that asset again, repeating the buy. Continuing this process every rebalance.
Example: You have 100 BTC and 100 LTC in your portfolio. You completely blacklist LTC and specify 50% BTC and 50% LTC as your allocations.Result: Every rebalance, half of your BTC will be sold to LTC until you don’t have any BTC left and only have LTC.
If you don’t want this accumulation to happen, don’t allocate a percent for the assets which are completely blacklisted.
There are also times when you may not want an entire asset to be blacklisted, but only part. Partial blacklisting is also possible.
By specifying only some of an asset to be blacklisted, this will remove only that amount from being rebalanced.
Example: You have 1 BTC. However, you want .5 BTC to be ignored.Solution: Type in a blacklist for .5 BTC.
Partial blacklisting will ignore the amount specified, the rest will be traded normally. Both amounts will show up on the Shrimpy dashboard.
Similar to the complete blacklist, the allocation amount matters when dealing with blacklisting. In the case of partial blacklisting, Shrimpy will trade in order to reach the allocation percentage with the rest of the asset.
Example: You have a total portfolio value of 1 BTC, an allocation of 50% BTC / 50% LTC, and a blacklist for .5 BTC.Result: Shrimpy will trade so you have .25 BTC worth of LTC and .75 BTC.
In this example, you can see how since there is a .5 BTC blacklist, the remaining assets were divided evenly between LTC and BTC. This is because Shrimpy trades as if you only have .5 BTC worth of assets.
Exclude Offline from Rebalancing
Previously with the Shrimpy application, when inputting balances into the “wallets” tab for assets that were not on the exchange, users had the option to either select “Active” or “Inactive”. This determined whether or not the amounts that were input would be included or excluded from the calculations during rebalances.
This functionality has been changed so all amounts that are input into the wallets tab are included for rebalancing. Excluding an amount requires the addition of a blacklist.
The rules for partial blacklisting also apply for the balances that are input into the wallets tab. Either part of the amount or the entire amount can be blacklisted. Shrimpy will ignore the assets that were entered into the wallets tab first, and then if there is an additional amount in the blacklist, it will ignore the remaining amount from on the exchange.
Example: You blacklist .5 BTC. You currently have .25 BTC entered into the wallets tab and .5 BTC on the exchange. (So, a total of .75 BTC)Result: Shrimpy will first blacklist the .25 BTC which is not on the exchange. Since there is still .25 BTC left over in the blacklist, Shrimpy will blacklist .25 BTC from the exchange. The result is .25 BTC that is liquid on the exchange.
This allows the blacklisting of both assets held on the exchange as well as those entered into the wallets tab in Shrimpy.
We believe crypto assets are going to disrupt the world, however we aren’t there yet. Investing in cryptocurrencies is complicated. The diversity of coins has grown, convenience of investing hasn’t improved, and adoption from every day 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 invest in cryptocurrencies. 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 investing in cryptocurrency should be for everyone. The current coin distribution is centralized to those investors 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.