Free Bitcoins from Faucets and Mining...Free Bitcoins from Faucets and Mining Shrimpy: Now,...

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Free Bitcoins from Faucets and Mining Shrimpy: Now, Automatically Balance Your Cryptocurrency Portfolio FREE By: Harsh Agrawal HODL is one strategy that most of us follow. However, do you know what is better than HODLing? Rebalancing. Using the balancing technique, you can grow your holding currencies as it automatically helps to buy low and sell high. I have been testing this strategy using two tools: Shrimpy: Free for now 3Commas: Paid tool but offers $10 joining bonus to try out After using both the tools, I can say both are highly effective and work as promised. There is a lot of fundamental difference between these two tools that I will cover in the next article. For now, I wanted to share everything I have learned about Shrimpy, which is a free tool (for now) and something you should start using to learn the art of portfolio rebalancing. The sooner you learn about it, the faster you will be able to make more money with crypto holding. Sounds good? Alright, let’s move ahead and see what Shrimpy could do for you.

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Page 1: Free Bitcoins from Faucets and Mining...Free Bitcoins from Faucets and Mining Shrimpy: Now, Automatically Balance Your Cryptocurrency Portfolio FREE By: Harsh Agrawal HODL is one strategy

Free Bitcoins from Faucets and Mining

Shrimpy:

Now, Automatically Balance Your Cryptocurrency Portfolio FREE By: Harsh Agrawal

HODL is one strategy that most of us follow. However, do you know what is better than

HODLing? Rebalancing.

Using the balancing technique, you can grow your holding currencies as it automatically helps to buy low and

sell high. I have been testing this strategy using two tools:

Shrimpy: Free for now

3Commas: Paid tool but offers $10 joining bonus to try out

After using both the tools, I can say both are highly effective and work as promised. There is a lot of

fundamental difference between these two tools that I will cover in the next article.

For now, I wanted to share everything I have learned about Shrimpy, which is a free tool (for now) and

something you should start using to learn the art of portfolio rebalancing.

The sooner you learn about it, the faster you will be able to make more money with crypto holding.

Sounds good? Alright, let’s move ahead and see what Shrimpy could do for you.

Page 2: Free Bitcoins from Faucets and Mining...Free Bitcoins from Faucets and Mining Shrimpy: Now, Automatically Balance Your Cryptocurrency Portfolio FREE By: Harsh Agrawal HODL is one strategy

Shrimpy review – An Easy to Use Cryptocurrency Portfolio balancer Shrimpy is probably the most straightforward yet most powerful cryptocurrency portfolio-rebalancing tool.

It works with six exchanges at the time of writing of this review:

Here are a few points you should know before you start using it:

You can connect to an exchange right now and it doesn’t need to rebalance right away.

You can stop rebalancing anytime.

When setting up allocation for a coin, the number has to be whole and can’t be a fraction. (Personally,

this feature is a limitation and fraction should be allowed as well). (1% is good, 1.5% won’t work).

You can customize the rebalance time (hourly, daily, weekly or never).

Manual rebalance button is available.

See the portfolio in BTC or USD.

Currently, Shrimpy is only able to connect to one exchange at a time. Multiple exchanges support is

coming soon. For now, you can create multiple accounts for various exchanges.

Backtesting tool.

Then as this tool is continuously being developed, there are more features, which keep coming to it.

What I liked about Shrimpy is, it’s relatively easy to use, especially for someone who has never used the

rebalancing technique.

The first step is to create an account here

Connect your exchange using the API Key

Once the exchange connection is validated, scroll down to start allocating the percentage to the coin you

wish to keep. The total allocation should be 100%.

This is a vital step, and I recommend you first to set up an excel sheet and make a portfolio. Break down coins

into large cap, medium cap, and small cap. You can also use categories/industries to diversify your portfolio.

Diversification is the key here, and the goal is to grow your overall portfolio in either BTC or USD. I prefer

growing in BTC but for risk aversive people, even increasing your total USD investment is not bad either.

Again, it boils down to your style and risk appetite.

Page 3: Free Bitcoins from Faucets and Mining...Free Bitcoins from Faucets and Mining Shrimpy: Now, Automatically Balance Your Cryptocurrency Portfolio FREE By: Harsh Agrawal HODL is one strategy

Once you have done the allocation, the next step is to set up the rebalancing cycle. I usually keep it around

3-6 hours as the crypto industry is fast moving and according to research by Shrimpy, it gives better results.

You can always manually rebalance from the dashboard and see your portfolio balance. What I do is, I take

out the profit and let the overall rebalancing run automatically.

Page 4: Free Bitcoins from Faucets and Mining...Free Bitcoins from Faucets and Mining Shrimpy: Now, Automatically Balance Your Cryptocurrency Portfolio FREE By: Harsh Agrawal HODL is one strategy

Clicking on History will show you how many times rebalancing has taken place and what all has been

purchased or sold.

I also recommend you to read the articles and case studies by Shrimpy on their medium blog. This will give

you a lot of information on how rebalancing works and how to create a rocking crypto portfolio.

Overall, this is a free tool for a limited period of time and you should take advantage of it. Similar features

offered by other tools are usually paid. The closest one that I’m testing along with Shrimpy is 3commas which

does more than rebalancing. I will be doing a detailed comparison of Shrimpy and 3Commas in the days to

come.

For now, here are a few things I would love to see in days to come from Shrimpy:

Allowing fraction, rather than an only whole number. This is highly useful for anyone with the huge

portfolio, as even 0.25 constitutes a big sum.

Adding multiple exchange support, as most of the people in cryptos who use advanced technologies

like rebalancing have multiple accounts.

Mobile app (no brainer here)

Portfolio share: This one feature could be the game changer as there are people who prefer sharing

their winning portfolio. One can simply copy it to grow their portfolio. Here is a screenshot of the

same from another tool:

Page 5: Free Bitcoins from Faucets and Mining...Free Bitcoins from Faucets and Mining Shrimpy: Now, Automatically Balance Your Cryptocurrency Portfolio FREE By: Harsh Agrawal HODL is one strategy

Conclusion:

Overall, Shrimpy is a class cryptocurrency rebalancing tool that every crypto holder and trader should try.

Rebalancing technique is highly useful to mitigate risk and grow your investment. Apart from building such a great

tool, the team seems to be passionate about the whole technique behind it. The Shrimpy blog is full of articles that

every crypto investor should read.

Sign up for Shrimpy

I believe this tool won’t be free for long and the value it adds, it won’t be an issue for most of us to pay fees for the

value it adds.

I would rate Shrimpy 4/5 and hope to see more innovation and new features from them soon.

This guide was last updated on 22.November.2018.

For any questions, you can send me an e-mail on [email protected].

Donations are most welcome in case you would like to support my work:

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Thank you and Happy Earnings!

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