Prep the shrimp. Pat the shrimp dry with paper towels. Then, set up a deep fryer or Dutch oven by pouring in oil until it’s about 2-3 inches deep. Start warming up the oil to 350°F (175°C).
Make the batter. Whisk together the all-purpose flour, cornstarch, baking powder, salt, and white pepper in a medium mixing bowl until fully combined. Slowly pour in the cold water and the lightly beaten egg, whisking until you get a smooth, slightly thin batter that lightly coats the back of a spoon.
Coat and fry the shrimp. Holding the shrimp by the tail, dip each into the batter, making sure it is fully coated. Don't forget to let any excess batter drip off. Next, gently drop the battered shrimp into the hot oil. Avoid overcrowding the pot to make sure it is even cooking. Fry the shrimp for about 2 minutes per side until they turn golden brown and crispy.
Drain the shrimp. Using a slotted spoon, remove the fried shrimp from the oil and place them on a plate lined with paper towels to absorb any excess oil.
Serve and enjoy. Once all the shrimp are fried and drained, serve them immediately while they’re hot and crispy. Pair them with your favorite dipping sauce or add a squeeze of lemon for a fresh, tangy touch.