Trading Crypto takes both a lot of time and a lot of skill. You need to be able to read charts and spend time researching what you're investing in. Because it takes both time and skill, trading crypto isn't for everyone. So what if you could invest crypto automatically without having to put in all the hard work!
I've put together 4 different ways you can automate your crypto portfolio and start investing no matter what your skill level is.
Shrimpy is a tool which connects with crypto exchanges to help you automate your trading. Using Shrimpy you can setup a strategy and then it will automatically buy assets based on your allocations and then rebalance your portfolio. You can also use Shrimpy to test your trading ideas.
Shrimpy works with all the popular exchanges including Binance, KuCoin, CoinbasePro, and Poloniex.
Coinbundle is like a managed fund but for cryptocurrency. Instead of investing in individual cryptos, coinbundle (as the name suggests), bundles together a number of different cryptos. These bundles are based around different themes. For example you can invest in a “Conservative” bundle which is made up of just Bitcoin and Ethereum. Or go for the “Aggressive” bundle which contains coins that could still see big growth in the future.
Coinbundle automates your investment and rebalances your portfolio to maintain the allocations. Best of all – there are no service fees! This makes investing very cheap and cost effective. You can even get started with as little as $10. In the future, Coinbundle plans to let users create their own bundles which others can invest in.
I think Coinbundle is a great option for people looking to make a simple investment in crypto without needing to worry about doing any research. It's a great for set and forget type investing.
What if you could copy the same trades made by experienced crypto traders? Well that's exactly what eToro is for. It's a copy trading platform. You can use eToro to trade cryptocurrencies without needing to make any trades yourself. All you have to do is browse through the profiles of traders to find the ones you like the look of. And then you can allocate funds. Now whenever the trader makes a trade in their account, the same trade will be made in your account.
You can browse through the past trades a trader has made as well as see how profitable they have been and how risky their trading style is.
You can start investing through eToro with as little as $200.
Coinbase is one of the largest and most trusted crypto exchanges. I've used Coinbase for the last few years, and found them to have the best interface of all the exchanges I use.
Coinbase offers a feature to automate your buys. You can set up recurring purchases. While this isn't as advanced as using something like Shrimpy or Coinbundle, it's definitely the simplest way to get started.
So if you're just looking to make some regular buys or crypto without any other portfolio features, then I would recommend Coinbase.
Disclaimer: eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.