Shrimpy is a crypto trading platform that analyzes the market and tracks your performance. According to the vendor, this system lets you trade crypto with ease. In this Shrimpy review, we will try to determine whether the platform is truly reliable.
Shrimpy was founded in 2018, but we don’t have any information on its service history. The vendor has not shared an official address for the company headquarters.
On the official website of Shrimpy, we have a list of features available on the trading platform. The vendor has provided a step-by-step description of how the EA operates and we have some customer testimonials where traders have talked about their experiences with Shrimpy. The website also has the pricing details and an FAQ section. The features are nothing special, and we don’t think the vendor is offering anything unique with this system.
At Shrimpy, you can connect all your exchanges and wallets. There is a single portal for monitoring the live market and managing your portfolio. Here, you can test all your trading schemes using archival data. There are many in-built strategies on this platform, and you can modify and automate them at your convenience. Since the vendor has not provided explanations for any of these schemes, we cannot judge whether they can boost your trading results or minimize the hazards. The lack of strategy insight is not a sign of a reliable crypto trading system.
Shrimpy lets you copy the trading strategies of other traders and mimic the investment portfolios of Binance Labs, Blockchain Capital, and Coinbase Ventures. You can create dynamic indexes to track different assets and set stop losses for the portfolios.
First, you need to connect your exchange accounts with the trading platform, which will automatically collect information on the owned assets. It supports different exchanges like Binance, Bibox, BitFinex, BitMart, Bitstamp, Bittrex, Coinbase Pro, HitBTC, and others.
With Shrimpy, you can automate trades on multiple accounts simultaneously. As per vendor claims, it can generate a profit of up to $45,000 in one month. Of course, we have no way of verifying this claim, since the vendor has not provided any evidence for the same.
The idea behind Shrimpy
Shrimpy aims to create a unified portal for crypto trading. It wishes to connect users to liquidity providers to facilitate portfolio management. We think the company mission has been described in a vague manner and that the vendor should have provided more clarity.
The CEO and co-founder of Shrimpy is Michael McCarty. Matthew Wesly is the CTO and the co-founder, and the infrastructure department is headed by Nishant Nayudu. The fourth and final member of the team is Sumaya Mehzabin who is the senior product designer. We don’t have any background information on the team members, which is quite disappointing.
Safety of Shrimpy and the network
Shrimpy uses FIPS 140-2 validated hardware security modules for storing and encrypting API keys. The platform uses 2-factor authentication for user accounts.
There are three distinct pricing plans for this trading platform, namely Starter, Professional, and Enterprise. The first plan costs $15 per month and lets you use 3 portfolios per exchange account. You can connect a maximum of 5 exchange accounts with the basic plan and also use the portfolio tracking feature.
With the professional plan, you get 5 portfolios per exchange account and the ability to connect to 10 exchange accounts in exchange for $63 per month. The enterprise plan costs $299 per month and lets you connect to more exchanges.
On Trustpilot, Shrimpy has a poor rating of 2.1 out of 5. This tells us that many traders are dissatisfied with the performance of this trading platform. One user has claimed that they lost half their portfolio after using the system for a month, although the price of BTC did not change much. Since the majority of reviews are negative, we are inclined to believe that this platform is not worth investing in.
Is Shrimpy a legit investment service?
Our verdictOur verdict
- Supports top exchanges
- Affordable pricing plans
- Lack of information on team members
- Negative customer reviews
- Lack of advanced features