Don't have time to read an article? We've got you covered! Check out our tutorial video below.
Need help connecting Shrimpy to KuCoin?
Make it easy to diversify and rebalance by connecting your API Keys to Shrimpy.
So you’ve got a Shrimpy account, a KuCoin 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…
KuCoin requires 2FA login and Security Questions before you can create an API key.
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 KuCoin 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.
Step 1: Logging into your KuCoin account, you will see the following screen. Click on your profile icon in the top right and you will see a drop-down which includes "API Management".
Log into your KuCoin account. Once you have logged in, click on your “profile” in the header. You can see in the above image and an option for "API Management". Select this option from the drop-down.
Step 2: Now that you have selected to Navigate to the “API Management” tab.
On this page, you will see the option to create an API key. Select the button to "Create API".
Step 3: The next page will display which will request you to name your API key and enter an API Passphrase.
When you are creating your API keys, you will need to remember your API Passphrase. This passphrase will be used when you later link your API keys to your Shrimpy account. Notice that this passphrase will be different than your "Trading Passphrase". The "Trading Passphrase" will not be used to connect your KuCoin API keys to Shrimpy.
The resulting permissions should look like the above image. “General” and “Trade” should be checked. “Withdrawal” should remain unchecked. Shrimpy does not require withdrawal access. In addition, “No restriction” should be selected for “IP restriction”. Using the “IP white list” option will prevent Shrimpy from being able to access data from your account.
Step 4: The final screen you will see will look like this. Make sure you have enabled "General" and "Trade".
Now that the keys have been configured, the “Key” and “Secret” should be copied so we can input them into the Shrimpy application.
Now that you have the 2 different components for your FTX API Keys, you can connect your account to Shrimpy by selecting "Connect a new exchange."
At this point, select “KuCoin” as your exchange and click "select."
Paste your “API key” and “Secret Key” into the Shrimpy application. Once the keys have been copied into the correct fields, click the “Save” button.
Once you have successfully linked your API keys, 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 is worth noting at this time that Shrimpy does not support exchange sub-accounts, we will only be able to see value held in the main trading account.
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 found within the actions menu 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.
Have questions, comments or concerns? Feel free to reach out to us via the blue "Support" button found in the bottom left corner of your Dashboard, or send an email to Support@Shrimpy.io.