What Is The Best Time To Invest In Shiba Inu
The cryptocurrency market has set new records in 2021, striking a $2 trillion market capitalization and indicating signs of growth. One of the biggest crypto winners in 2021 has been Shiba Inu . The crypto is up by over 500,000% since it hit unsurpassed lows in November 2020.
As such, despite its low performance recently, those who got in early are still sitting on a heavy profit. Shiba Inu has taken over Dogecoin, taking the centre stage in the realm of meme coins. Shiba Inu was introduced in August 2020 with the mission of overtaking Dogecoin. Shiba was named the Doge Killer because of its mission.
Till now Shiba has profited mainly because of the similarity between it and Doge. When Doge suddenly became popular because of Elon Musks tweet and declaration, Shibas price increased rapidly and investors believed that Shiba could be the next Doge.
In July the Shiba Inu team made its biggest move by introducing Shibaswap. One of its biggest moves so far was the launch of Shibaswap in July. Shibswap is a DEX that enables investors to trade tokens and stake their Shiba Inu tokens. The staking feature of this DEX is likely to give Shiba Inu the most value. Thats because once one stake, their Shiba Inu are locked for 6-months.
What is Shiba Inu Token?
Best time to invest in Shiba Inu Coin
Is Shiba Inu a good investment in 2021?
My Shiba Inu will be named Floki. Shib With its 2,500 percent run in May, it exemplified that it can surprise investors with confounding gains.
How To Invest In Shiba Inu A Quick Guide For 2021
You might want to understand the crucial steps involved in buying Shiba Inu. In that case, what you need is a quickfire walkthrough. Below, we have briefly discussed how to invest in Shiba Inu using eToro a cost-effective broker thats regulated by multiple financial bodies.
- Step 1: Create an Account with eToro: This is the first step in getting started with the broker. You can open an account in less than a minute by providing eToro with the required personal details and contact information. Youll also need to decide on a username/password for your account.
- Step 2: Upload Your ID:;eToro is a regulated broker where you can make payments with fiat money. Therefore, you have to undergo a Know Your Customer procedure to verify your identity. You can do this by uploading a copy of your ID.
- Step 3: Deposit Funds: eToro offers you numerous options to add funds to your account. This includes debit/credit cards, Neteller, Paypal, and wire transfers.
- Step 4: Invest in Shiba Inu: Click the search bar and enter Shiba Inu. After the token appears, click Trade and enter the amount you want to put behind the asset. The minimum you can enter here is $25.
Once you complete the steps above, you have successfully learned how to invest in Shiba Inu.
Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.
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Create Local Exchange Account
If you want to buy SHIBA INU right now, without going through the full verification process, and if you want to buy only a small amount consider usingCoinbase.
For a more comprehensive guide and comparison of the various exchanges, see the Exchanges Guide.
Shiba Inu Coin Vs Dogecoin
Shiba Inu has been called the Dogecoin killer and the two coins are based on the same doge meme. So, should you buy Shiba Inu coin or buy Dogecoin?
In order to answer that question, its important to understand how the two coins are different. Dogecoin was originally intended as a joke, not a serious cryptocurrency. So, it uses the same blockchain code as Bitcoin, but it removed all limits on the number of Dogecoin that can be mined.
That means that the future supply of Dogecoin is essentially unlimited. So, its virtually impossible for Dogecoin to retain value in the long-run. The coin can see short-term spikes in price when demand outpaces the release of new coins from mining. But miners will eventually catch up, bringing the price of Dogecoin back down.
Shiba Inu, on the other hand, was meant to be a usable cryptocurrency based on the doge meme. Its supply is limited, so the Shiba Inu price can rise steadily over time as demand increases. In addition, it is based on the Ethereum network instead of using the same blockchain technology as Bitcoin. That means that its interchangeable with all other ERC-20 tokens and can be used for DeFi applications like lending and saving.
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Create Global Exchange Account
Next, you will need to create an account on a global exchange. This will allow you to trade the cryptocurrency you bought in the previous step for SHIBA INU. Unfortunately, it’s not possible yet to do it all on the same exchange. Which is why you need to use multiple exchanges.
We recommend using Binance
For a more comprehensive guide and comparison of the various exchanges, see the Exchanges Guide.
How And Where To Buy Shiba Inu
Buying SHIBA INU has become relatively easy. It can simply be done by PayPal, card, or even cash.
This is a small guide weâve made to make your job easier. So if you are interested in buying SHIBA INU , read it till the end.
Though people always say that buying cryptocurrencies from your debit or credit card is difficult, it is not.
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Upgrades To The Protocol
Shiba Inu has taken notable steps to increase the projects value in the market. The anonymous team behind Shiba Inu has continued to work on fulfilling the promises made in the projects whitepaper. One of the products that have been launched by the protocol is Shibaswap.
Shibaswap is a decentralized exchange for Shiba Inu owners to trade their tokens for other crypto coins. The launch of this DEX has created some more traction around the Shiba Inu protocol. This is a feature worthy of consideration when researching the project and its market possibilities.
How To Buy Shiba Inu Coin Uk Conclusion
In summary, although the process of buying Shiba Inu Coin isnt as straightforward as more popular digital assets like Bitcoin or Ethereum, this guide has shown you the easiest way to complete the investment.
We concluded that eToro is arguably the best cryptocurrency broker for the job as the platform offers a low-cost barrier to entry, alongside support for debit/credit cards and bank account transfers. Plus, OKEx is used by over 20 million traders and it is in possession of a great reputation in this industry.
Buy Shiba Inu Coin at eToro UKs #1 Broker
- Invest in a wide range of cryptocurrencies
- Ability to copy more experienced investors and their decisions
- eToro crypto wallet included which makes it beginner-friendly
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What Is The Shiba Inu Coin
The Shiba Inu coin was created as a parody of the meme token Dogecoin. Dogecoin had received some tacit support from the worlds third-richest man at the time, Elon Musk in 2020. At that time, Elon Musk had made a cryptic tweet, using the logo of Dogecoin and saying: who let the Doge out? A few weeks and more tweets later, Dogecoin made an astounding 10,000% return and made several people very rich.;
The Shiba Inu is a dog that is native to Japan. It is the dog that is featured on Dogecoins logo. When Dogecoins performance became too big to ignore, an anonymous individual named Ryoshi created the Shiba Inu coin as an ERC-20 token on the Ethereum blockchain.;
The reference to the Shiba Inu coin as a Dogecoin killer stoked market interest almost immediately, leading to a surge in the price of this token when it was listed on several exchanges.;
The Safest Way To Buy Shiba Inu Coin
All the exchanges have listed are part of the safest ways to buy Shiba Inu.
Choosing from the lot, Trading Education recommends eToro as the safest way to buy Shiba Inu Coins. This is because it provides features such as 2FA verification, cold storage of your private keys, its insured by the Federal Deposit Insurance Corporation , has multi-signature facilities, and more importantly, users will have to go through the Knowing Your Customer phase to ensure that the person behind the computer or mobile phone is authentic.;
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Deposit Fiat Into Your Binance Account
There are a few ways to fund your account to buy Shiba Inu coins. You can connect a bank account or use a debit card to buy SHIB with your local currency. We recommend connecting a bank account, as this has 0 fees. If you use a debit card, be prepared to pay a small fee for using it.;
Once youre on the homepage of Binance, navigate to Buy Crypto on the top menu bar.
A dropdown will appear that will ask for your payment method. Here you will choose how you would like to fund your account. The options for funding your account are as follows:
- Card Deposit recommended
- P2P Trading
After choosing a method to fund your account, simply follow the on-screen instructions to complete the deposit.;
Using A Vpn While Signing Up To And Using Binance International
Unfortunately Binance has barred US citizens from using their international exchange. Instead Binance has built a US based exchange- but it does not allow the purchase of Shiba INU.
Fortunately there is a workaround.
You can use a VPN that makes you appear to be accessing the internet from a different country.
It is strongly advised you use a secure paid-for VPN: you are dealing with money afterall. But if you really don’t want to you can find the best free VPN software at Techradar.
It’s very important to note that you must use a VPN EVERY time you access Binance international, otherwise it may be detected that you’re in the US and your account will be locked. If your account is locked you may not be able to withdraw any cryptocurrency you have stored in it.
Once your VPN is set up, follow this guide to buy Shiba INU on Binance.
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Select An Exchange To Buy Shiba Inu Coin
Fortunately, the exchanges have understood the huge demand for altcoins.;
Shiba Inu is getting more popular every day, making it a lot easier for those looking how to buy Shiba Inu coins.;
Note that some of these exchanges offer direct purchases.;
You can find Shiba Inu coins on the following exchanges:
- 1inch Exchange
Buy Shiba Inu On Binance Using Bitcoin Bought On Another Exchange
Now you need to buy some Bitcoin. Follow our guide to buying Bitcoin here.
Once you have Bitcoin, send it to your Binance Bitcoin address.
The process of sending Bitcoin varies by exchange, but the guide you used to buy Bitcoin will also explain how to send it.
It can take 20-60 minutes for Bitcoin to send and confirm. You don’t have to sit and wait- once your Bitcoin has been successfully deposited to Binance you will be sent a confirmation email.
Once you’ve received the email .
The exchange page can look overwhelming at first but don’t worry, you’re only going to use a small part of it.
There are two ways of buying Shiba INU- a limit order and a market buy :
A ‘Limit’ order
A limit order lets you manually set the price at which you want to buy Shiba INU .
In the ‘exchange’ section of the page select ‘limit’.
Enter the price you want to pay for Shiba INU in the ‘price’ box.
Then enter the amount of Shiba INU you want to buy in ‘amount’.
You will be told the total amount of Bitcoin the order will cost. Press ‘buy SHIB’.
Note: your order will only fill if the price of Shiba INU reaches the price you set.
A ‘Market’ buy
A market buy fills your order automatically at the best price available.
In the ‘exchange’ section of the page select ‘market’.
In the box marked ‘amount’ fill in how many SHIB you’d like to buy. It may be easier to use the percentage buttons below the input box- for example, press 50% if you’d like to exchange 50% of your Bitcoin for SHIB.
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Create A Shiba Inu Investment Account With Etoro
When you decide to invest in Shiba Inu, you should do so through a reliable and credible broker. eToro is a broker that fits the bill here as the platform is regulated by the SEC, FCA, ASIC, and CySEC. To get started with eToro, youll need to sign up on the platform. This process requires you to enter some personal details such as your full name, email address, and more.
Additionally, youll have to choose your username/password and confirm your telephone number. Lastly, youll be required to answer some questions concerning your investment experience. This allows the broker to know the right set of investment products that might be of interest to you.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
What Is Shiba Inu
Once upon a time, there was a very special dog. That dog was a shiba inu, and this dog inspired millions of people around the world to invest money into tokens with the dogs image on it.
According to the SHIBA INU website, SHIB is the DOGECOIN KILLER and will be listed on their own ShibaSwap, a decentralized exchange.
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Ways To Buy Shiba Inu Coin
Online Platforms such as Binance, Atomic Wallet, Crypto.com, and KuCoin list Shiba Inu Coin on their exchanges for trading. You can check for a trading pair on the exchange of your choice, then buy an alternative coin. You can then change to Shiba Inu Coin from the crypto token you purchased on the exchange.
The Trust Cryptocurrency Wallet
Trust is a mobile phone based cryptocurrency wallet that supports the storage, sending and receiving of leading cryptocurrencies, including Shiba INU.
You can set your wallet up without giving any personal details so you can stay anonymous, and the wallet private key is stored locally on your phone so you are guaranteed privacy.
Trust also includes a Web3 Browser that allows you to interact with decentralized applications through the App. Decentralized applications are not currently mainstream but they are building in popularity.
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Open A Crypto Exchange Account
Voyager, Binance, and ETORO provide customers access to Shiba Inu Coin, SHIB is also available via ETH-based decentralized exchanges like Sushiswap and Uniswap. To create an account with one of these crypto money exchanges, all you need to do is give an email address and make a password. Before you start trading, though, you will need to verify your identity for tax purposes.
Some information you will need to provide to the crypto exchange includes your social security number, an image of your drivers license, and your birthday.
How To Buy Shiba Inu Coin On Crypto Exchanges
Shiba Inu Coin is a cryptocurrency created by an anonymous person named Ryoshi. It is modeled after Dogecoin and supported on the Ethereum BlockChain. Shiba Inu Coin use the Japanese Dog, Shiba Inu, as their Mascot.;
The coin is mainly a transferable token in its utility. The crypto ecosystem supports a Shiba Inu Coin Exchange called ShibaSwap.
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How To Buy Shiba Inu Coin In The Uk
The easiest, safest, and most cost-effective way to buy Shiba Inu Coin in the UK is to use a trusted broker like eToro. You can easily buy Shiba Inu Coin by opening an account, uploading a copy of your ID, and then depositing funds with a debit/credit card or bank account transfer. Other brokers to consider include Coinbase and Binance.
Purchasing Ethereum To Buy Shiba Inu
To get SHIBA INU, you will need some Ethereum. Unless you have a mining rig setup to mine Ethereum, the only way to get Ethereum is by purchasing it from a cryptocurrency exchange. If youre in the United States, you could use a centralized exchange such as Coinbase and buy Ethereum with a credit card or by depositing USD into the account.
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How Do I Store Shiba Inu Purchased On Kriptomat
After purchasing Shiba Inu, your coins will be sent directly to your ultra-secure Kriptomat SHIB Wallet. Kriptomat automatically generates a unique, secure wallet for each user on the platform free of charge.
Equipped with this powerful resource, youll be able to buy, sell, send, deposit, and hold various cryptocurrencies on Kriptomat.