Shiba Inu gained a whooping rise in its prices soon after the chief of Tesla, Elon Musk, backed Dogecoin. Today you can buy Shiba Inu for a lesser price than Bitcoin, making it a preferable option for investors. It ranks among the top 15 cryptos based on market capitalization.
Shiba Inu (SHIB) is one of the most popular “meme tokens” that has been hiking in the market since 2021. Even though its price has gone down lately, there is a lot of potential for growth in the coming days. here you’ll explore how you can invest in Shiba Inu.
What is Shiba Inu?
Shiba Inu (SHIB) is a meme coin created in 2020 by an anonymous group called Ryoshi. It was built on the Ethereum Blockchain, based on the Ethereum ERC-20 token, and is known to be an alternative to Dogecoin.
The market capitalization of Dogecoin surged after Elon Musk tweeted about it, which also affected the net worth of Shiba Inu, later making it surpass Dogecoin briefly. However, it still has a lot of room for growth, as the Shibarmy is trying to manifest. Shiba Inu is thriving primarily because of the unprecedented support from its community.
Why is Shiba Inu (SHIB) Gaining Popularity?
Shiba Inu has been gaining popularity lately for a few reasons:
- Elon Musk, tweets have played a huge role in hiking the prices of Shiba Inu and Dogecoin which lead to it gaining a great sum of popularity.
- SHIB has various features that make it worth investing in one of which is that it already tops the meme coins and might ever dethrone Dogecoin at some point. Apart from that as soon as the crypto market stabilizes the SHIB prices have been known to skyrocket in the long term.
- Shiba Inu has made a lot of developmental breakthroughs in the crypto world and Shibarium is one of its revolutionary development that will change the way crypto works and will help in bringing more and more new tokens.
- Founder anonymity is also a great deal unlike other cryptocurrencies the founder’s view or issue will have no impact on the coin’s price.
These are some of the reasons why Shiba Inu is gaining popularity. In addition, it is a fun coin with a lot of potential to grow. So, if you want to invest in a cryptocurrency, Shiba Inu might be a good option.
Best Crypto exchanges To Buy Shiba Inu (SHIB)
Following are a few of the Best Crypto exchanges to purchase your Shiba Inu (SHIB) token from :
- Ku coin: popular crypto exchange to buy SHIB with either fiat or cryptocurrency.
- Binance: One of the most popular exchanges, Binance, allows you to buy SHIB with a credit/debit card.
- Coinbase: You can buy from Coinbase by using USD.
- Kraken: Another popular exchange, Kraken, allows you to purchase with USD
- Uphold: You can buy SHIB from Uphold using either USD or EUR.
- Huobi Global: You can buy SHIB from Huobi using either fiat currency or cryptocurrency.
- Bithumb: Bithumb is a South Korean exchange where you can buy SHIB with KRW.
These are some of the best exchanges to buy SHIB from. You can choose an exchange based on your preferences like the payment method, buy limit, fees, etc
Ways To Buy Shiba Inu (SHIB)
There are a few ways to buy SHIB (Shiba Inu) token:
- Use an exchange: You can buy it from exchanges like Binance, Coinbase, Kraken, etc., using either fiat currency or cryptocurrency. Make sure to store your coins in a wallet and not on the exchange to avoid losing them in case of a hack.
- Use a P2P platform: Platforms like LocalBitcoins, Paxful, etc are also a great option to buy SHIB, using either fiat currency or cryptocurrency. These platforms allow you to buy SHIB directly from other users.
- Use a broker: You can buy SHIB from brokers like eToro by using USD. Brokers are usually easier to use than exchanges, but they might charge higher fees.
These are some of the ways you can opt for buying Shiba Inu. Choose the best method for you based on your preferences like payment method, buy limit, fees, etc.
How to buy Shiba Inu?
There are a few steps you need to follow while buying Shiba Inu (SHIB) on an exchange-
- Get a Shiba Inu wallet:
The first step is to get yourself a SHIB wallet where you can store your coins. Afterward, you can go for a hardware wallet like Ledger or Trezor. These are the most secure wallets as they keep your private keys offline. Or you can opt for a software wallet like MetaMask or Trust Wallet. These wallets are easier to use but are less secure than hardware wallets.
- Find a reputable exchange:
Once you have your wallet set up, the next step is to find a reputable exchange where you can buy SHIB. Some of the popular exchanges include Binance, Coinbase, and Kraken.
- Buy Shiba Inu:
Once you have found a reputable exchange, you can buy SHIB using either fiat currency or cryptocurrency. . If you are using fiat currency, you must convert it into cryptocurrency like Bitcoin or Ethereum and then buy SHIB. If you are using cryptocurrency, you can directly buy SHIB with the currency of your choice.
- Store your Shiba Inu in your wallet:
Once you have bought SHIB, store it in your wallet, not on the exchange. This is because exchanges are susceptible to hacks, and you might lose your coins if the exchange is hacked. Hence, it is always safe to store your coins in a wallet.
These are the steps you need to follow while buying Shiba Inu. Note that the prices of cryptocurrencies are highly volatile and can rise and fall at any time.
Why Should You buy Shiba Inu?
Following are a few reasons why you should invest in Shiba Inu (SHIB):
- It is a meme coin: Shiba Inu is a meme coin, and people are investing in it because it is fun and different from other cryptocurrencies. In addition, SHIB has some unique features that make it well-suited for use as a meme coin. For example, the coin is designed to be “unstealable” and resistant to censorship. This makes SHIB an attractive option for those using their crypto holdings to support free speech and other causes.
- It has a very active community: The community around Shiba Inu is very active and promotes the coin a lot. This helps in getting more people to invest in it.
- The price is very low: The price of SHIB is very low compared to other cryptocurrencies like Bitcoin and Ethereum, making it a preferable choice for investors.
- It has the potential to grow: Shiba Inu is still a new coin with much room for growth. So, if you want to invest in a cryptocurrency, Shiba Inu might be a good option.
These are some of the reasons why you should buy Shiba Inu. In addition, it is a fun coin with a lot of potential to grow. So, if you want to invest in a cryptocurrency, Shiba Inu might be a good option.
How to store Shiba Inu?
The best way to store Shiba Inu is in a wallet that supports the ERC-20 token standard. Some popular wallet that supports ERC-20 tokens is MyEtherWallet, MetaMask, Trust Wallet, etc. You can also store your SHIB on exchanges like Binance, Coinbase, Kraken or so, but we recommend against it as your coins might be at risk in case of a hack.
These are some of the ways to store Shiba Inu. Choose the best method for you based on your preferences like security, buy limit, fees, etc.
Shiba Inu is a fun and unique cryptocurrency with a lot of potential to grow in the future. So, if you want to invest in a cryptocurrency, Shiba Inu might be a good option. Please choose the method that is best suited for you to buy SHIB and store it in a safe place.