Need help connecting Shrimpy to OKEx?
Make it easy to diversify and rebalance by connecting your API Keys to Shrimpy.
So you’ve got a Shrimpy account, a OKEx account, you know rebalancing could help you, but you don’t understand API keys or how to use them. Keep reading!
What are API Keys anyways?
An API key and API secret are like a username and password. These keys allow Shrimpy to communicate with the exchange in order to perform trades. Basically in order to rebalance and diversify your portfolio we need an API to talk to the exchange.
Before we start…
If you’ve already connected your API Key and would like to jump ahead, read about our research from over 200,000 tests on how portfolios would have performed with different numbers of cryptocurrencies. There’s a short summary at the end with a link to the research as well.
How to get OKEx API Key and Secret Key
Note: There are a number of confirmation and set up stages in-between each of these steps. Some of the missing steps include steps for setting up and entering 2FA codes. These were excluded because there were many of these intermediate steps.
Log into your OKEx account. Once you have logged in, you will see a page that looks similar to the one shown above. You can navigate to your API keys by selecting the menu then "API".
Once you have navigated to the My API page on OKEx, input a display name and passphrase for your key. Also make sure to enable trading for the keys along with "Enquiry" if it is not enabled by default. We do not require "Withdraw" access, so that option should be left disabled. Then click on “Confirm”.
You will be asked to confirm the passphrase and Google Authenticator code in order to view the API Key and Secret. Once you have entered these, select "Confirm".
You will now see a page which will show your API Key and Secret. These are the keys that you will be inputting into Shrimpy.
Note: You will not be able to see your Secret key again once navigating away from this page. Please copy it to a secure location at this time.
Now that you have completed the process to obtain your API keys. We must select to activate the keys. Now, will head over to Shrimpy where we will input our API keys into the application to start automate our trading strategy.
Now that you have the 2 different components for your OKEx API Keys, you can connect your account to Shrimpy.
Once you have logged into Shrimpy, select “OKEx” as your exchange and paste your “API key” and “Secret Key”into the Shrimpy application. You can find the page to input new exchanges by navigating to “Settings” and then “Exchange”. Once the keys and passphrase have been copied into the correct fields, click the “LINK EXCHANGE” button.
At this time data should populate in your account dashboard. If it does not populate immediately, please allow up to 15 minutes for the data to populate. If it still does not populate after 15 minutes, please contact us at firstname.lastname@example.org.
Congratulations! You have successfully connected your API keys to Shrimpy.
It’s now time to experience the exciting features that are waiting for you inside the application. Starting with the “Automation” tab. On this tab, you can select assets to include in your portfolio by selecting "Add Assets". You can also automate an index using the "Create Index" button.
Don't forget to set a rebalance period or select a threshold rebalancing strategy to automate your portfolio.
The assets included here are the ones that will be bought or sold by Shrimpy in order to reach the desired percentage of each asset. The target allocations are the assets and percentages that are specified under “Allocation”. Anything that is not in your allocations will be sold in order to buy these assets. Essentially, treat this list of assets that you select as what you portfolio to become. Shrimpy will do the rest to reach this goal.
The “Rebalance Now” button is the way you let Shrimpy know you want to perform trades immediately. Once you hit that button, it will perform all of the necessary trades to reach the target allocations that were specified on the “Automation” tab. If your portfolio has already been created and is close to your target allocations, it will simply realign your allocations to match your target allocations.