Automating your Portfolio

There is only one thing left to complete the process of creating a diverse portfolio and automating the trades for your Coinbase Pro exchange account. The last step is entering those keys into your Shrimpy account!

Shrimpy is a free portfolio management application which simplifies the way we manage our funds. It allows us to quickly allocate portfolios, construct indexes, automate trades, and so much more.

Step 1: Sign Up for Shrimpy

Go to https://www.shrimpy.io/ and click “Sign Up” to go through the process of creating a Shrimpy account.

Step 2: Log In to Shrimpy

Logging into Shrimpy for the first time, we will see this page after going through a few slides explaining the application. From the “Exchange” drop down, select “Coinbase Pro”. Once you select Coinbase Pro, you will see there are 3 fields that need to be filled out. These are the “API Key”, the “API Secret”, and the “Passphrase”. These 3 different components were copied and stored in the previous steps above. Input these values into these 3 fields and select “Link Exchange”.

At this time you will see data populate your account dashboard.

Step 3: Select a Portfolio

We will create our first portfolio by going to the “Portfolio” tab and clicking “Create a New Portfolio”. The above screen will pop up. This is where you will select your assets.

Step 4: Add Assets to Your Portfolio

Clicking the “Add Asset” button will present a popup with the assets you can select to include in your portfolio. Select the assets you wish to have in your portfolio.

Step 5: Select Portfolio Allocations

Once you’ve selected your assets, it’s time to pick the percent allocations you would like to maintain for each asset. Essentially, select how much of each asset you want to keep in your portfolio. In addition to the asset allocations, don’t forget to select a “Rebalance Period” on the right side. Once you’ve selected your asset allocations, save your portfolio and your rebalance period.

Note: Selecting a rebalance period is not mandatory. You can still allocate your portfolio by leaving the rebalance period as“manual” and continuing to the next step.

Step 6: Allocate Your Portfolio

The “Rebalance Now” button 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 portfolio allocations that were specified in your portfolio in the last step. 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.

Congratulations! You have successfully set up your first cryptocurrency portfolio! In order to manage your cryptocurrency, all you need to do is log into Shrimpy and adjust your portfolio whenever you need.

Additional Reading

10 Tips for Creating a Killer Cryptocurrency Portfolio

Crypto users who diversify perform better

Shrimpy Adds Social Portfolios for Crypto

Automated Cryptocurrency Index Funds — Personal Asset Management

Cryptocurrency Trading Bots — The Complete Guide

About Shrimpy

Shrimpy is an automated crypto trading & portfolio management tool that lets users automate their crypto portfolio with only a few clicks. Shrimpy also supports the most advanced trading APIs for application developers.

Shrimpy’s Crypto Trading API was created as a cloud-based solution to address several crypto developer roadblocks including exchange trading, product scalability, and user management.

CoinOrderBook is a free cryptocurrency market data provider which leverages the Shrimpy developer APIs to collect real-time market data. In addition to exchange asset listings, CoinOrderBook analyzes arbitrage opportunities, order book data, and trading pair spreads.

~The Shrimpy Team