Don't have time to read an article? We've got you covered! Check out our tutorial video below.
Indexing the cryptocurrency market is a simple 4 step process with Shrimpy. It's easy to get started and a breeze to change at any time.
We begin by navigating to the "Automation" tab. If you have already created portfolios in the past, this is where they will show up. If this is your first portfolio, you will see an image with a button to "Create Automation".
Click the button to "Create Automation".
If this isn't your first portfolio, select the "+" button in the top right corner to create a new automation. This button is seen next to "My Automations".
You will be asked to choose what kind of automation you wish to create, one where you select your own assets and allocations or an Index. Select "Create Index".
The screen you see after clicking "Create Index" is the above screen. This is sometimes called the "Automation" page, the "Allocations" page, or the "Strategy" page. All of these words are meant to describe the type of information that is presented on this page.
The settings that affect how an index trades can be found in the sidebar, shown in the screenshot above. It will have a number of configurations that you can adjust to create the index that is best for you. Let's walk through these different options.
Indexes in Shrimpy can either be weighted by market cap or evenly distributed.
This is the range of assets you would like to hold in your portfolio. You can select any range you wish to index.
This is the minimum percent weight you would like for any single asset. For example, if you don't want any asset to take up less than 2% of your index, you can set a minimum of 2%.
Similar to min %, this is the maximum percent weight you would like for any single asset in your index. For example, if you don't want Bitcoin to consume over 50% of your portfolio value, you can set the max percentage to 50%.
You can exclude any asset from your index. For example, if you don't want USDT since it is a tether, you can exclude it from your index.
You can include assets based on asset tags pulled from CMC. This will ensure that only assets with specific use cases or included in specific investment portfolios will find their way into your index.
At this point you will still need to save your portfolio or else your changes will be lost. Don't forget to also select a rebalance period so Shrimpy can maintain your allocations over time!
If you want to learn more about the various settings in the index feature, please refer to the following blog post: https://blog.shrimpy.io/blog/automated-cryptocurrency-index-funds-personal-asset-management
We also have a YouTube video that covers additional information here: