Best Software Wallet: Coinbase Wallet
Coinbase Wallet is a mobile app made by Coinbase that lets you take control of your cryptocurrency. The wallet is an all-in-one place to store your crypto assets and NFTs. You can even trade crypto directly from Coinbase Wallet, as its integrated with decentralized exchanges on Ethereum. This way, you can swap your Shiba Inu tokens through DEXs directly from your Coinbase Wallet.
Why Is Shiba Inus Price Rising
The reason behind Shibas price surge shows exactly how volatile meme cryptocurrencies like this can be Musk tweeted a picture of his dog.
Musk bought a pet Shiba Inu in September, and called it Floki. On Monday he tweeted a picture of the puppy with the caption Floki Frunkpuppy.
The tweet did not even have anything to do with Shiba Inu coin, but it was enough to send his supporters flocking to buy the coin, therefore boosting its value.
It goes without saying that any currency that can be so heavily influenced by someone tweeting a picture of their dog is far from a stable investment. While such currencies can make you money, anyone investing should be prepared to lose everything they put in.
Musk has often shown an ability to influence the cryptocurrency market even coins as large as Bitcoin.
He has previously been a vocal supporter of Dogecoin, on which Shiba Inu coin is heavily based, though it has never been clear how much of that support is a joke.
The Financial Conduct Authority warned in January: Investing in cryptoassets, or investments and lending linked to them, generally involves taking very high risks with investors money.
If consumers invest in these types of product, they should be prepared to lose all their money.
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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How To Invest In Shiba Inu Choose A Broker
As a smart investor, youd want to purchase Shiba Inu in the most cost-effective way. In that case, you have to diligently choose a suitable broker where you will buy the token. To make this process easy, we have outlined the best places for you to invest in Shiba Inu.
- eToro Overall Best Place to Invest in Shiba Inu
- Coinbase Great Broker to Invest in Shiba Inu for Newbies
- Binance Best Place to Invest in Shiba Inu for Asset Diversity
- OKEx Invest in Shiba Inu via a Crypto Deposit
- Capital.com Trade Shiba Inu with Leveraged CFDs
We have provided a comprehensive review of these platforms further down in this How to Invest in Shiba Inu Guide
How To Buy Shiba Inu
Securities.io is committed to rigorous editorial standards. We may receive compensation when you click on links to products we review. Please view our affiliate disclosure. Trading involves risk which may result in the loss of capital.
Nicknamed the Dogecoin killer, Shiba Inu is an experiment in decentralized spontaneous community building. The token intends on using memes to become a viral sensation, it remains to be seen how successful this business model will be.
We list the top 3 exchanges that offer the ability to buy Shiba Inu cryptocurrency with a credit card, debit card, or Bitcoin .
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How To Buy Shiba Inu Coin
The easiest way to buy Shiba Inu coin is via the KuCoin exchange. Before you can get your hands on Shiba Inu, you’ll need to purchase something called USDT . I know this may sound complicated, but I can assure you that the process is super easy. Once you’ve made a KuCoin account, here’s how to buy Shiba Inu.
1. Sign into your KuCoin account.
2. Click on “Buy Crypto” on the top-left corner and click on “Credit/Debit Card.”
3. Under “I Want to Spend,” input the amount of USDT you’d like to purchase.
4. Under “I Want to Buy,” click on the drop-down menu and select USDT.
5. Next, select your payment method and payment channel.
6. Tick the “Disclaimer” button and click “Confirm.” Follow the prompts to finish the payment process.
Swapping USDT for Shiba Inu
1. After a minute or two, you should find your USDT in your Main Account, which you can locate by going to Assets > Main Account.
2. Click on the “Transfer” button next to USDT to switch your USDT over to your Trading Account.
4. Next, go to your Trading Account and confirm that your USDT is there.
5. Click on “Markets” to get started on swapping USDT for Shiba Inu.
6. On the far right, type in “SHIB” into the search bar.
7. Click on the SHIB-USDT trading pair.
8. At this point, you may be prompted to input your trading password.
9. Once you’ve confirmed your trading password, click on on the lower-right quadrant.
11. Click on “Buy SHIB.”
Follow the prompts to complete the purchase, and voila, you now own Shiba Inu coin!
Okex Invest In Shiba Inu Via A Crypto Deposit
In a similar manner to Binance, the trading commission on OKEx starts from 0.1%. When compared against some other platforms in this space, this rate is relatively modest. To trade Shiba Inu on OKEx, youll first have to buy a renowned token such as Bitcoin or USDT. Following the purchase, you can then proceed to swap the coin for SHIB tokens.
This makes OKEx a great option for you to invest in Shiba Inu if you already possess some digital tokens in a private wallet. In that case, you simply need to transfer the tokens from the wallet to OKEx. From there, youll perform a crypto-to-crypto exchange and receive your SHIB tokens in a matter of seconds. The impressive thing here is that you can deposit any supported token even if its a less liquid coin.
Over the years, OKEx has expanded to over 200 nations with more than 20 million clients. Although the platform is unregulated, it has been able to establish a notable presence in the cryptocurrency industry. Users can also elect to store their tokens in the platforms custodial wallet. In that case, youll have complete control over your investment since only you will hold the private keys.
- Trusted crypto exchange with over 20 million users
- More than 400+ digital currency pairs
- Buy and sell cryptocurrencies with a debit/credit card or bank transfer
- Low commissions that start from 0.1%
- Fully-fledged mobile app on Android and iOS
- Great reputation and highly secure
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Shiba Inu Coin On Uniswap
Uniswap is a decentralized trading protocol that guarantees liquidity for millions of users and hundreds of Ethereum applications.
Whats important to remember when using a decentralized exchange to buy Shiba Inu coin is the presence of a slippage tolerance. This is the percentage by which the actual price of the trade can differ.
Each user can set this slippage before the transaction, and if the percentage is too low, the trade will revert. Lower liquidity leads to a higher required slippage. The fee goes to the exchange and the liquidity pool users.
Brief History Of Shiba Inu
The first coin, Shiba Inu token was listed on Uniswap and began trading at essentially no value. On May 8th, Shiba rose over 300% in anticipation of Elon Musks Saturday Night Live skit airing later the same day.
Shiba Inu token, which is the 1st token launched in the Shiba ecosystem, can be bought on Uniswap. 50% of the total supply was put onto the decentralized exchange Uniswap by the Shiba founders, and the rest were sent to Vitalik Buterin Ethereum visionary. After donating $1 billion in Shiba tokens to Indias Covid relief fund, Buterin burned the rest of his tokens.
Upon launch of the Shibaswap platform, Shiba Inu tokens can now be staked on Shibaswap to dig for another cryptocurrency on the platform: bones. Bones is the governance token for ShibaSwap, granting token holders voting rights on the platform.
Their last token is called leash and was the most unstable stablecoin in existence. Stablecoins are cryptocurrencies pegged to other values, most commonly the U.S. dollar. Instead of being pegged to the dollar, however, Leash was pegged to the price of DOGE, making it rather unstable. Since then, the Shiba Inu decided to unleash Leash tokens from the price of Doge, so its currently no longer pegged to Dogecoins price. Leash has an extremely small supply of just 107,647 tokens, and each is worth about $780 at the time of writing.
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No Distinctive Use Case
The fact remains that Shiba Inu is a meme coin. This makes it difficult for the token to drive real action in the cryptocurrency market. Regardless of the founding teams effort to grow the token, theres no assurance that the coin will be viewed as a serious project.
Shiba Inu appears to have been a coin driven by hype. In the absence of real use cases, it might be difficult for the token to witness notable growth in the long run.
Should You Buy Shiba Inu
by Emma Newbery | Updated Sept. 2, 2021 – First published on Aug. 2, 2021
Many or all of the products here are from our partners. We may earn a commission from offers on this page. Its how we make money. But our editorial integrity ensures our experts opinions arent influenced by compensation. Terms may apply to offers listed on this page.
Shiba Inu dogs make better pets than investments.
Shiba Inu is one of a number of pet coins that have grown in popularity since Dogecoin’s stratospheric growth.
Dogecoin is a parody cryptocurrency that was launched in 2013 to make fun of the way people bought cryptocurrencies they didn’t fully understand. It was based on a popular meme of a Shiba Inu dog that spoke in broken English.
Its light-hearted approach attracted a broad community of fans. Tweets from Elon Musk and other celebrities have helped increase the price.
What’s worrying is that Dogecoin has never had a purpose. It may be fun and make people laugh, but its market cap is bigger than several multinational companies. As such, you’d want it to have an active team and a business plan.
Business plan or not, as a result of the huge price rise, Doge has given birth to a whole litter of pet coins, including Shiba Inu.
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Shiba Iu Gets Green Light From Coinbase After Rough Patch
Shiba Inu’s Coinbase listing is much-needed good news after the token suffered a massive plunge in price last month.
Shiba Inu’s anonymous founder Ryoshi made the unwise decision to send half of the token’s supply to the founder of Ethereum, Vitalik Buterin. Why? Ryoshi’s claims that he wanted to minimize Shiba Inu’s supply and increase its value.
Crypto pundits suspect the real reason Ryoshi sent the tokens to Buterin is publicity. After all, Buterin has a public Ethereum wallet, which offers transparency to his holdings. Ryoshi was hoping that Buterin would eventually burn the tokens, or at the very least, just sit on them without doing anything. However, Buterin did exactly what Ryoshi did not want him to do: sell them.
Two days after Shiba Inu got listed on Binance, Buterin donated $1 billion worth of Shiba Inu to an India-based COVID-19 fund. Unfortunately, the token suffered as a result and tanked to painful lows.
Now that Coinbase added Shiba Inu to its list of supported cryptocurrencies, “Dogecoin killer” token holders now have renewed hope that Shiba Inu can surpass its Elon Musk-led rival to the moon.
Shiba Inu trading on Coinbase launches on Thursday, June 17 at 9 a.m. PT / 12 p.m. ET.
How To Buy Shiba Inu On Coinbase Pro
Coinbase Pro has officially delayed the launch of Shiba Inu on their platform.
We are experiencing technical issues that will temporarily delay the launch of SHIB on Coinbase Pro. At this time we are disabling deposits of SHIB withdrawals are still available. We will provide an updated timeline for restoring deposits & enabling trading as soon as possible.
On June 17 at 12 p.m. ET, Shiba Inu will begin trading on the Coinbase Pro exchange.
How to buy: Coinbase Pro requires users to first purchase USDC, which can then be spent on SHIB and other supported cryptocurrencies. Alternatively, Coinbase allows you to send your assets from the Coinbase wallet to your Coinbase Pro wallet off-chain for free. If you have BTC or ETH on your Coinbase, you can send these assets to your Coinbase Pro wallet for free, and enter SHIBA through the SHIBA-BTC or the SHIBA-ETH trading pairs.
Shiba Inu is a doggy-themed cryptocurrency that aims to take the hype behind Dogecoin to a new level. The platform differentiates itself from Dogecoin with plans to launch its own decentralized exchange and NFT system.
While Dogecoin runs on its own blockchain, Shiba Inu is built on the Ethereum blockchain. Shiba Inu benefits from Ethereums decentralization and security but suffers from Ethereums high transaction fees.
See also: How to Buy Dogecoin
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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.
Should I Buy Shib Today
The SHIB token is currently experiencing a sharp rise and early holders could make big gains if the price surge continues in the future. The current price is attractive to retail investors and the upside potential is considerable for the Shiba Inu.
This article is for informational purposes only none of its content should be construed as financial or investment advice.
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Coinbase Great Broker To Invest In Shiba Inu For Newbies
Coinbase is a broker that appeals to newbies in the market because of its simple user interface. You are not required to know much about the cryptocurrency industry for you to get started with Coinbase. Once you open an account and complete the KYC steps, youll be able to make a deposit. Once youve funded your account, you can then proceed to invest in Shiba Inu.
However, in terms of fees, our research team found Coinbase to be expensive. When you invest in Shiba Inu via a debit/credit payment, youll incur a commission of nearly 4%. As a newbie looking to invest in a cost-effective manner, this pricing structure might not be your best option. However, if you dont consider the high-fee structure a challenge, there are some other great features that come with Coinbase.
For instance, the broker has established its presence in the cryptocurrency market as a super-secure platform with more than 68 million users. Some of the security measures used by the broker include device whitelisting and two-factor authentication. Additionally, the broker stores 98% of users funds in cold storage to keep your tokens out of hackers reach. When you consider all the features of this broker, it does stand out as a great place to invest in Shiba Inu.
- One of the most popular cryptocurrency exchanges
- More than 68 million users
- Supports instant debit card purchases
- Dozens of digital currencies to choose from
- Institutional-grade security practices
Should I Invest In Shiba Inu
The cryptocurrency industry is filled with thousands of tokens. While Shiba Inu has been able to generate some traction in the market, the token still has to contend with many other projects. Therefore, any smart investor would ask whether the coin is indeed a good buy.
In this section, weve considered some features of Shiba Inu to help you further gain insights into the token.
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Who Are The Founders Of Shiba Inu
The SHIBA INU WoofPaper has three reasons why their team created SHIB:
What Makes SHIBA INU Unique?
The SHIBA INU website invites dog-inspired artists from all over the world to foster the artistic Shiba movement as they bring their SHIBA INU community into the NFT market.
SHIBA INU has also created a campaign using Amazon Smile in order to collect donations for rescue real, live Shiba Inu dogs with the Shiba Inu Rescue Association.
Learn more about Dogelon Mars.
Learn more about the dog-related meme-coin craze.
Learn more about trading with our definition of a dead cat bounce.
How Many SHIBA INU Coins Are There in Circulation?
The SHIBA INU website notes that they locked 50% of the total token supply on Uniswap, and threw away the keys! The remaining 50% was burned to Vitalik Buterin.
There are several other tokens described on the SHIBA INU website LEASH, which has been unleashed and will not rebase, BONE, the Dogecoin Killer .
The WoofPaper notes that you will use SHIB to DIG for BONES or ShibaSwap, or even BURY your tokens. Trainers can teach their Shibas to SWAP tokens as well all of these actions create Returns that are put into the Puppy Pools, where the #SHIBARMY has the option of BURYING or DIGGING for BONES.