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Opinion
3Commas vs. Shrimpy

3Commas vs. Shrimpy – A Comprehensive Comparison and Review

DEC 30, 2020
25 MIN

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Features

3Commas

Shrimpy

🌎 Company Location

🇨🇦 Canada

🇻🇮 U.S.

📅 Founding Year

2017

2018

💱 Supported Exchanges

23

16

🆓 Free trial period

  • Yes (For PRO accounts only)
  • No (HODLER account is free for life)

☁️ Cloud-Based

  • Yes
  • Yes

💰 Multiple currency support

  • Yes
  • Yes

🤖 Automared trading

  • Yes
  • Yes

🧪 Backtesting

  • Yes
  • Yes

📈 Social Trading

  • Yes
  • Yes

📊 Grid Trading

  • Yes
  • Yes

🤖 DCA

  • Yes
  • Yes

📱Mobile app

  • Yes
  • No

🚀 Partnership Program

  • Yes
  • Yes

As cryptocurrency trading has gained traction over the past several years, a market of portfolio management and automation tools has quickly developed. In today’s review, we are going to compare two highly popular trading management platforms: 3Commas and Shrimpy.

3Commas and Shrimpy Overview

3Commas was launched in 2017 – and over the past few years, it has amassed 220,000 users across Europe, the Americas, Asia, Australia, Africa, and Oceania. The platform was built with the goal of helping users make money quickly via one reliable platform. Currently, 3Commas users are able to access 23 exchanges.

Some of this platform’s key features include:

  •  Automating trading techniques  across various trading tools and indicators;
  •  Using social trading  to mimic some of the top crypto traders;
  •  Tracking portfolio performance  and setting up automatic adjustments of your investment strategy;
  •  Backtesting  to see if your strategies would have been successful in the past; and
  •  Dollar-Cost Averaging , automatically distributing your deposited funds across your portfolio according to your preferences.

Shrimpy is a relatively new social cryptocurrency trading and portfolio management platform, launched in January 2018. As with 3Commas, Shrimpy allows crypto traders to manage their whole balance across various exchanges – 16 in total. Shrimpy also implements features such as social trading, portfolio performance tracking, backtesting, and Dollar-Cost Averaging. Since Shrimpy’s launch, it has amassed over $1 billion in total trading volume, and it facilitates 120,000+ trades on a daily basis.

To give you a better idea of the capabilities of 3Commas and Shrimpy, we will take an in-depth look at each service.

1. Pricing and Plans

Overall

3Commas scores higher in this category, due to the ability for a free trial and more transparent pricing.

Shrimpy has three account types: HODLER, Professional, and Enterprise. HODLER is always free but has very limited features – only components of Portfolio Tracking are available to these account holders. Professional and Enterprise accounts have far more options, but they do not have free trial periods.

3Commas has four account types: Free, Starter, Pro, and Advanced. Prices for the plans vary, depending on whether you pay per month or per year.

  • A free account gives users one DCA bot for multi/single pairs, one grid bot, one SmartTrade, one options bot, one futures bot, simple buy/sell functions, the ability to convert USDT to BTC, and an unlimited number of exchanges to track.
  • With a Starter account, you get access to the SmartTrade terminal, you have the option to place Stop Loss and Take Profit, and you may utilize short and long algorithms.
  • With an Advanced account, you also unlock custom signals from TradingView, a single pair DCA bot, and view and copy bots.
  • The Pro account includes all of the aforementioned features, in addition to a multi/single pair DCA bot, composite bots, a bot that works with ByBit, Bitmex, and FTX futures, a GRID bot, and an Options bot. PRO users get a 3-day, fully-featured free trial.

3Commas per month prices:The Starter plan is $29/month, Advanced is $49/month, and the Pro is $99/month.

3Commas per year prices:When you pay per year, you get a hefty discount! The Starter’s monthly cost (with an annual payment) is $8.70, while Advanced is $14.70, and Pro accounts are $29.70.

So, our thoughts on the two of them, compared?

While Shrimpy has a free account option, its functions are limited. Shrimpy’s other two account options do not have free trials, making it difficult for potential users to determine whether they like the services before signing up for a subscription.

Pricing and Plans Scores

HODLER

Professional

Enterprise

$0/Month

$13-$19/month

Price varies depending on your company’s needs

🔑Key Features:

  • Portfolio Tracking

🔑Key Features:

  • Portfolio Tracking
  • Portfolio Management
  • Index Builder
  • Rebalancing
  • Backtest
  • Social
  • Settings

🔑Key Features:

  • Portfolio Tracking
  • Portfolio Management
  • Index Builder
  • Rebalancing
  • Backtest
  • Social
  • Settings
  • Enterprise (tax optimization and custom feature development)

3Commas

Shrimpy

⭐ 9/10

⭐ 7/10

2. Reliability

Overall

We can’t fault Shrimpy for being a young company; each platform has to start somewhere. However, if you are looking for a service that has established its reliability, 3Commas is the better one to go with.

Shrimpy:Their service was founded in 2018, and it still seems to be finding its feet in the industry.

3Commas: They have one more year of experience over Shrimpy. While this may not seem like much, 1 year of experience can make a world of difference in the operations of a startup company. This may be why Shrimpy offers a lower price point for its services – it has not yet made a name for itself the way that 3Commas has.

Reliability Scores

Platform

Pros

Cons 

3Commas

  • Plenty of available reviews on the web
  • Transparent pricing and accessible tutorials that increase its reputability
  • Occasionally goes offline

Shrimpy

  • Timely customer service support if issues arise
  • Not as much web exposure
  • Less transparent pricing, decreasing the reputability

3Commas

Shrimpy

⭐ 9/10

⭐ 7/10

3. Ease of Use

Overall

3Commas makes it easy to manage your trading strategies and portfolio on-the-go. Shrimpy doesn’t have a mobile app, so 3Commas is the winner.

3Commas makes ease-of-use a priority, which is reflected in their sleek, intuitive interfaces. As far as platform design, both platforms are both very high-quality and simple even for beginners to figure out.

Ease of Use Scores

Platform

Pros 

Cons

3Commas

  • Sleek, simple design
  • Excellent reference section
  • Beginner traders may be overwhelmed by the number of features

Shrimpy

  • Well-laid-out design
  • Comprehensive dashboard
  • No mobile app

3Commas

Shrimpy

⭐ 9/10

⭐ 9/10

4. Exchange Platforms

Overall

This is an area in which 3Commas is a clear winner: they have 23 supported exchanges, as opposed to Shrimpy’s 16.

 Shrimpy currently supports: KuCoin, Binance, Binance.US, Bittrex, Bittrex Global, Coinbase Pro, Kraken, Poloniex, BitMart, Bibox, Gemini, Bitstamp, Huobi Global, Bitfinex, HitBTC, and Okex.

3Commas actually supports all of those exchange platforms except for Bitmart and Bibox – and they also support FTX, Bybit, Bitmex, Binance Jersey, Deribit, Bittrex, Cex, Exmo, Gate 10, and Yobit. At the time of writing, there are 22 listed exchanges on 3Commas’ features page; however, they advertise having 23 exchanges – so there is at least one more that users have access to.

Exchange Platform Scores

Platform

Pros 

Cons 

3Commas

  • Very wide range of platforms
  • More platforms than many competitors
  • No cons found

Shrimpy

  • Wide enough range of platforms for beginners
  • We would like to see them introduce more exchange platforms

3Commas

Shrimpy

⭐ 10/10

⭐ 7/10

5. Profitability

Overall

It’s a tie – both services come with a host of success stories.

Shrimpy and 3Commas can’t guarantee that their users will turn a profit, but there are many success stories from both services. We find that both Shrimpy and 3Commas offer similar enough features that allow its users to have good chances of profiting. After researching stories of people who have used these services, we’ve concluded that both platforms contribute to decent average earnings.

Profitability Scores

Platform

Pros 

Cons 

3Commas

  • Profits could potentially rise as high as 10%
  • Excellent trade opportunities are frequently available
  • Losses on occasion

Shrimpy

  • Fee optimization
  • Good for long-term return on investments
  • As with 3Commas, occasional losses

3Commas

Shrimpy

⭐ 10/10

⭐ 10/10

6. Trading Strategies

Overall

3Commas users are spoiled for choice when it comes to trading strategies. So, it wins the rounds.

With Shrimpy, you have to dig a bit deeper on the site to figure out how you can use trading strategies there. Their features page is much more vague – for instance, Shrimpy simply says that it can connect to your crypto exchange accounts and automate trading strategies to reduce risk and improve long-term performance. We would be interested in seeing more details about what kind of trading strategies can be built, as this plays a huge role in whether or not a user would want to purchase a subscription.

With 3Commas, You can plan out how and when you’d like to trade but let bots do it – after all, they are much more reliable to humans. You can configure one bot and re-use it for as long as you’d like. When the market changes, you can edit or copy the bot. If your bot trades poorly, you can edit active deals, close at the market, add funds, and more.

Plus, you can change start conditions, copy other users’ top-performing bots, and use composite bots to split your funds in a smarter way. 3Commas is upfront about what kinds of trading strategies you can build on their platform; it is well laid out in their Knowledge Base.

Trading Strategies Scores

Platform

Pros 

Cons 

3Commas

  • You can copy top traders or make your own strategy
  • Plenty of configurable strategy settings
  • The website gives lots of details about trading strategies
  • Room for error when setting up a strategy

Shrimpy

  • You can copy top traders or build a portfolio strategy
  • Very little information is given about trading strategies on the website

 Winner 

3Commas

Shrimpy

⭐ 9/10

⭐ 6/10

7. Operating Systems

Overall

3Commas mobile application makes it a clear winner!

Shrimpy.io is accessed via a web browser and works with any OS. Currently, there is no software or mobile application available for users.

3Commas offers an app in addition to their standard browser site.

Operating Systems Scores

Platform

Pros 

Cons 

3Commas

  • Well-designed app with thousands of satisfied reviews
  • Platform is also available via a web browser
  • None found

Shrimpy

  • Any OS can access the web browser platform
  • No app

  Winner 

3Commas

Shrimpy

⭐ 10/10

⭐ 8/10

8. Privacy & Security

Overall

We have another tie! Both sites have excellent safeguards to protect their clients’ data.

On Shrimpy’s Security portion of their website, each API key is encrypted and stored with FIPS 140-2 security modules in order to protect their integrity and confidentiality. Furthermore, Shrimpy encourages its users to enable 2-Factor Authentication. This was the only information included on the Shrimpy’s dedicated Security section – we would have liked if it went into more detail about actionable ways they protect your privacy.

With 3Commas there is not a dedicated Security page, but you can search for security-related terms in their vast Knowledge Base library. As with Shrimpy, 3Commas gives the option to set up 2FA.

A step-by-step tutorial on how to secure your account, along with screenshots, is helpful. The Knowledge Base didn’t contain information on data protection on 3Commas’ end, but it could be found in the Privacy Policy. There are security integrated safeguards that are scalable to your data’s level of sensitivity – some safeguards include secure servers, encryption, and administrative measures.

Privacy and Security Scores

Platform

Pros 

Cons 

3Commas

  • Excellent tutorial on 2FA
  • Detailed privacy policy
  • Little information about specific encryption measures

Shrimpy

  • Good explanation of how API is encrypted
  • Security page could be more fleshed out

 Winner 

3Commas

Shrimpy

⭐ 7.5/10

⭐ 7.5/10

9. Updates

Overall

3Commas is the definite winner. It has a dedicated updates section, whereas Shrimpy’s News page does not work.

With Shrimpy we could not find a section on their site where they discuss feature updates. We clicked the News section of their menu, and it just took us to the homepage.

3Commas’ Announcement section of their community page lets users stay up to date on all news. There is also a Release Notes section in their Knowledge Base, letting you know about the latest platform feature updates. It seems like they update their features about once per month.

Updates Scores

Platform

Pros 

Cons 

3Commas

  • Dedicated Updates and Announcement sections
  • Adding links for these sections to the page’s footer would be helpful

Shrimpy

  • Some updates are discussed on their social media channels
  • News section does not work

 Winner 

3Commas

Shrimpy

⭐ 9/10

⭐ 3/10

10. Help and Support

Overall

We like that 3Commas’ customer support team has a dedicated worktime. They’re the winner of this category.

On Shrimpy there is also a Live Chat icon. However, when we clicked it at 9:50 a.m. on a Monday (in CST time zone), there was a notification that they would not be available for the next 2 hours. It does not seem like their support team has a dedicated worktime. When you go to Shrimpy’s Help page, it directs you to a FAQ section with no contact form or listed email addresses.

With 3Commas you can clearly see the icon for live chat in the lower right corner of the screen. According to the chatbot, their usual reply time is less than ten minutes – which is fantastic. We also love that there is a huge Knowledge Base in addition to a standard FAQ page. Furthermore, by going to the contacts page, you can access a contact form and various support emails.

Help and Support Scores

Platform

Pros 

Cons 

3Commas

  • Email, contact form, and live chat are all available
  • Live chat has a speedy response time
  • The Contacts page name could be confusing. If it was named Help, the page’s purpose could be more obvious to users.

Shrimpy

  • Live chat is available
  • Inactive customer support during business hours
  • No contact form

3Commas

Shrimpy

⭐ 9/10

⭐ 7/10

11. Communities

Overall

In our opinion, this is what really sets 3Commas apart from Shrimpy.

When you visit Shrimpy’s Community page it provides links to their Reddit page, their Discord server, and their Telegram channel. However, each of these venues has little activity and interaction between users. It is mostly treated as a way for Shrimpy to publish news and occasionally answer questions from users.

With 3Commas there is a huge Community forum that is not just for learning but also for sharing experiences and trading ideas. There are also separate sections for each topic (bugs, ideas, education, features, announcements, etc.), making it easily navigable.

Communities Scores

Platform

Pros 

Cons 

3Commas

  • Fantastic community forums
  • Plenty of interaction among users
  • No live chat with other users

Shrimpy

  • Telegram, Discord, and Reddit groups are available
  • The Community options could be better organized
  • Not much helpful info in the Community groups

 Winner 

3Commas

Shrimpy

⭐ 9/10

⭐ 6/10

12. Shrimpy and 3Commas: Features

Overall

This was a close one! 3Commas narrowly won, mainly because they make it easy to learn about their features.

Both services have very similar features – for instance, 3Commas and Shrimpy both allow backtesting, social trading, grid trading, dollar-cost averaging, and more.

With Shrimpy you have to do lots of digging into their site and read user reviews to see what your options would even be. There are too many features to get into, but we’ll take a look at some crucial ones.

3Commas is much more transparent about the features that they have available.

Backtesting

Both platforms allow backtesting to allow you to evaluate your strategy. Shrimpy however, has made their Backtesting tool public for all to use. 3Commas lets account holders enable the backtesting option within their bot strategy settings.

Social Trading

Shrimpy lets you copy top crypto traders – however, their site doesn’t give much information on the process. 3Commas also lets you view and copy the bots of the platform’s most successful traders, and it gives tutorials on the process.

Trade Automation

Once more, Shrimpy’s vagueness is out to get them. Their features page says that strategy automation is possible, but there are no details given beyond that. With 3Commas there are plenty of blog posts and Knowledge Base articles detailing your options.

Features Scores

3Commas

Shrimpy

⭐ 9/10

⭐ 8/10

We like how much attention 3Commas draws to its features, so that users know all the options that are available to them.

Shrimpy vs. 3Commas: The Final Verdict

Criteria

Winner

🏷️ Pricing and Plans

3Commas

🦺 Reliability

Tie

👌Ease of Use

3Commas

💱Exchange Platforms

3Commas

💰Profitability

Tie

📊Trading Strategies

3Commas

⌨️ Operating System

3Commas

🔒Privacy and Security

Tie

🖥️ Updates

3Commas

📖 Help and Support

3Commas

💬Communities

3Commas

⚙️Features

3Commas

Overall Rating

Shrimpy and 3Commas both offer excellent trading automation opportunities. As we mentioned before, they offer nearly identical automation and strategy features. However, we find that 3Commas offers better quality-of-life features. The mobile app and dedicated knowledge base, as well as the heightened availability of the customer support team, is what really makes 3Commas stand out.

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Disclaimer

The contents of this article are not intended to be financial advice and should not be treated as such. 3commas and its authors do not take any responsibility for your profits or losses after you read this article. The info contained herein is based on data that was gathered from a variety of sources. This should not be used as a parameter for investing. The user must do their own independent research to make informed decisions regarding their crypto investments.

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