Portfolio Automation & Management For Cryptocurrency

It's without a doubt that the crypto space has grown immensely over the past seven years since Bitcoin's explosion. This is well evidenced by the current presence of over 2,295 cryptocurrencies, as reported by CoinMarketCap in June 2019 and over 500 crypto exchanges, according to bitcoin.com

Although the rapid growth of assets and exchanges is positive for the crypto landscape, it presents crypto traders dealing in hundreds of exchanges and thousands of currencies to track their digital assets, or establish returns from each coin or even value their existing portfolio. 

Currently, crypto traders, especially beginners, first need to find a wallet that accepts the coins they wish to trade in, then sign up for an exchange supporting their preferred coin. 

The signup process is usually multifaceted and time-consuming, thanks to a lengthy verification process. And once they are verified to start trading, traders need to spread their digital assets across wallets and exchanges to at least diversify their assets and spread risk. 

While it's possible, this complex and lengthy process presents a barrier to the entry of potential investors into crypto-trading. Not to mention, keeping track and managing each individual asset in the wallets and exchanges is no walk in the park, even for experienced crypto traders who resort to using Excel sheets. 

Nonetheless, cryptocurrency portfolio management tools such as Shrimpy present a solution to these challenges by assisting crypto traders to seamlessly manage their entire crypto investment portfolio, keep track of returns and monitor real-time performance amongst other tasks. 

Portfolio automation and cryptocurrency management software are crucial tools or even a necessity for any trader involved in crypto to effectively manage their digital assets and realize substantial profit margins. Apart from Shrimpy, which is the leading crypto portfolio management tool, there are several others that will be discussed later in the guide. 

Top Cryptocurrency Portfolio Management Tools 

Shrimpy

Shrimpy is beyond doubt the leading cryptocurrency portfolio management tool available in the market today, attributed to the advanced features that distinguish it from the rest of other portfolio management tools. Shrimpy provides an entire set of portfolio strategies and not just common features such as arbitrage trading, algorithmic strategies or trading signals. 

Rather than focusing on short terms, the platform allows users to manage and track their portfolio over a longer time horizon-up to five years of backward tracking with data collected and stored from each individual exchange.

The 'universal exchange interface' feature provided by Shrimpy allows users to track and manage their entire portfolio across exchanges precisely. The platform allows users to link their exchanges to Shrimpy and access all their portfolio under a single dashboard within seconds. Some of the supported popular exchanges include Binance, Bittrex, KuCoin, Kraken, Coinbase Pro, among others.         

In addition to crypto-tracking, Shrimpy provides trading bots to automate your trading strategy. These features include: portfolio rebalancing, index fund building, and dollar-cost averaging. There is nothing like these in the market today. 

Portfolio rebalancing is an excellent concept that any avid crypto trader ought to employ in their daily trading. For beginners, rebalancing aligns traders' portfolios with their target allocation and goes a long way to boost profit generation. 

This trading bot goes a long way in simplifying the portfolio management process by offering functionality for rebalancing, building custom portfolios and creating advanced market indices. 

Shrimpy also encompasses other game-changing features that provide new dimensions to crypto-trading. Most importantly is the social portfolio features, which allow users to interact with other cryptocurrency traders and copy their trading strategy or allocations, view their portfolio, and also automate tracking portfolios over time. It really builds on social trading. 

And with backtesting being a crucial component of any trading service, Shrimpy comes with a functional backtesting tool that analyzes and evaluates the market by employing accurate order book data, which is obtained from historical performances. 

That not being sufficient, Shrimpy also supports the Universal Crypto Exchange APIs, which serves as the foundation for the next generation of crypto-trading tools. In essence, these APIs allow users to connect directly to every major crypto exchange while still on the platform and also allow developers to build their own trading bots using the Shrimpy infrastructure. 

Shrimpy is a highly rated revolutionary automated crypto portfolio automation tool in the market currently. It's available for free on every major exchange. The free package consists of all portfolio management tools and exchange management features. Additional features such as rebalancing and backtesting are featured in the premium package, which costs $8.99 a month. You can easily sign up here.  

Coinstats

If you are looking for an old-school crypto portfolio management tool, Coinstats is your ideal tool. It features a really simple UI that makes tracking your assets and their movements easy. With this tool, you're able to track 5,000 coins with live price updates from over 250 exchanges. 

Coinstats also consists of an automated exchange portfolio import feature linked to over 30 exchanges. There is also a personalized news aggregator feature linked to over 40 legit sources, including social media channels such as Twitter and Reddit. 

Notable features of this tool include an alert feature encompassing price data, market cap and volume, auto-synching wallet and exchanges, and the chatbot functionality that attends to FAQ queries regarding a particular coin. While it's available freely, most features such as swap trading, auto alerts, order fill notifications, and managing multiple portfolios are unlocked via a pro subscription billed at € 27.99 per year. 

Delta 

Apart from Shrimpy, Delta is the other popular crypto portfolio management tool available on several platforms, including a mobile (Android, iOS) and Desktop (macOS, Linux and Windows). Delta is popular for its excellent user experience thanks to a minimal interface. The platform supports over 300 exchanges with over 3,000 coins, making it one of the most expansive crypto portfolio management tools. 

Notable features include personalized notifications, comprehensive trading analysis, and multi-device support. The tool also automatically tracks transactions, exchange fees and airdrops. This is quite crucial considering that the number of airdrops has risen in the recent past. 

Unlike Shrimpy, Delta lacks crucial trading features and therefore may hinder crypto traders. On top of its free version, Delta also has a premium package with additional features and benefits charges at $ 8.99 month/ 59.99 annually. 

The Bottom Line 

Cryptocurrency portfolio management software has risen to become a constituent part of crypto-trading. Tools such as Shrimpy simplify the trading experience, allows you to track your digital assets portfolio on several platforms, automate your trading and even increases your trading margin. 

Cryptocurrency trading shouldn't be driven by instincts but with the generation of proper signals that can be obtained by using automation tools. For any avid crypto trader, Shrimpy should be not only a trading tool but also a trading partner available 24/7.

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Currency Trader 2 years ago Member's comment

Lots of good info here.

Crypto Adventure 2 years ago Author's comment

Thank you for supporting us! Have a great day!