Safety is hands down the largest concern in the cryptocurrency space for everyone involved. Due to this, it's necessary to be skeptical of everything, and we here at Shrimpy both understand and appreciate that. It's for this reason we wrote this help article, and in it we are going to explain what data we need from you and why we need it in order to manage your portfolio.
When Linking an Exchange
Shrimpy uses APIs to communicate with the exchange on your behalf. This is what allows us to receive balance data as well as place trades for you using the funds held within your exchange account. When you create your API keys, you'll set what permissions are in use for that specific set of API keys. There's some variance, but for the most part exchanges typically provide you the option to enable Data, Trading, and Withdrawals.
Shrimpy does not, under any circumstances, want or need "Withdrawal" permissions.
The permissions we require on API keys are Data and Trading permissions. These will allow us to receive data from the exchange regarding the balances held in your exchange account, as well as place trades using the funds held in your exchange account.
Because we do not have withdrawal permissions, we are not able to remove any of the funds held within your exchange account - even to another exchange that you have linked to Shrimpy.
For a detailed list of permissions that you should enable based on each exchange account, please reference this article here: https://help.shrimpy.io/hc/en-us/articles/1260803099810-How-to-Link-An-Exchange-Account-to-Shrimpy
When Linking a Wallet
When you link a wallet, Shrimpy is getting your balance data directly from the blockchain. When you link a wallet to Shrimpy, you'll actually be linking each individual asset using the Receive address.
Shrimpy does not, under any circumstances, want or need your Private or Secret Keys.
When withdrawing funds from a wallet, the private or secret key is required in order to prove ownership of the wallet. Because you're using the receive address, we are not able to remove any of the funds held in the wallet - even to another wallet that you have linked to Shrimpy.
There are various pieces of information we need in order to manage your portfolio which allow us to see and trade your balances. None of the information we are requesting can be used to remove funds from the wallets or exchange accounts that you link to Shrimpy, and nobody from Shrimpy will ask for information that can be used in such a way.
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 email us at Support@Shrimpy.io.