How to Buy Shiba Inu Coins? The new penny cryptocurrency has investors in a tizzy to buy the new Dogecoin killer. Shiba’s social media hype shot up following Binance, the world’s largest cryptocurrency exchange, legitimised Shiba Inu in May 2021 post the addition of the same to its supported coins list.
The day before being listed on Binance, $SHIB was trading close to $0.000014. $SHIB shot up to $0.000037 on May 10. That’s a 164% increase. Had you invested $1050 in SHIB on May 9, you would have incurred a profit of $1725 the next day.
Investors are fairly convinced as to the newcoin being a credible rival to Dogecoin.
An ERC 20 token. The Shiba Inu coin operates in the Ethereum blockchain, using the network’s smart contract tech.
Judging by Shiba Inu coin’s white paper, the mem token’s main mission is the preservation of decentralisation. This is because the main bulwark against the monopolisation of power by institutions in authority is decentralisation.
The founder of Shiba Inu has stated that their team can create something stronger than a centralised team through the power of collective decentralisation. He has gone on to say that a community-operated token is meaningless without the individuals that lend it a distinct purpose.
The white paper explores why SHIB operates on Ethereum, explaining that Rthereum’s blockchain permits SHIB to stay free of moderating forces.
The white paper tells us that half of SHIB’s token supply was sent to Vitalik Beterin’s wallet. Whether it was a publicity stunt, or an attempt on SHOB’s team to render the coin scarce , continues to puzzle.
On May 12 2021, Buterin declared that he had sold $1 billion worth of SHIB coins to charity. Notwithstanding Buterin’s act being for a good cause, SHIB holders were left rattled nevertheless. However, on May 16 Buterin declared that he had burnt 90% of his Shiba Inu coins. He added that he was planning to donate the remaining 10% to charity. Burning tokens facilitates scarcity. Consequently, the price is bound to shoot up.
Buying Shiba Inu coin
There Are any number of Shiba Inu selling platforms. You may try exploring specific offers at Binance, Crypto.com, KuCoin and Atomic Wallet. You may also purchase SHIB on UniSwap thru Trust Wallet, which stipulates that you must exchange Ethereum for SHIB. We will go on referring to KuCoin here.
The simplest way to purchase Shiba Inu coin is thru the KuCoin exchange. Prior to getting your hands on Shiba Inu, you will have to buy Tether. The process is simple, whichever exchange you opt for.
- Sign into your exchange account;
- Click on ‘Buy Crypto’ in the top left corner.
- Subsequently, click on ‘Credit/Debit card’;
- Input the amount of Tether you’re going to buy, under ‘I want to spend;
- Click on the drop-down menu and opt for Tether, under ‘I want to buy’;
- Choose your payment method and payment channel;
- Tick the ‘Disclaimer’ button and click ‘Confirm’.
- Go after the prompts to finish the process for payment.
Exchanging USDT/Tether for Shiba Inu
- Following a couple of minutes, you will find your USDT/Tether in your Main Account, which you can reach by going to Assets / Main Account;
- Subsequently, click on the transfer button to switch your Tether over to our Trading Account;
- Go to your Trading Account, confirming your Tether’s there;
- Click on ‘Markets’ to get started on exchanging Tether for Shiba Inu;
- into the search bar, type in ‘SHIB’;
- Click on the Tether/SHIB trading pair;
- You will be prompted to enter your trading password;
- Upon your having confirmed your trading password, click on ‘Market’;
- In the ‘Buy SHIB’ section, click on the 100% button, thus guaranteeing that all of your Tether is exchanged for SHIB.
- If you opt for putting in a custom amount, you may do so in the ‘Amount’ field’; punch ‘Buy SHIB’.
Conclusion
Following the larger meme-con project Dogecoin. Shiba Inu , also known as ‘Dogecoin Killer’ has garnered 600,000 holders. The price is currently stuck in the crypto market downdraft. A bullish wave could be surely in the works, however. Robinhood is strongly in favour of listing SHIB. coinbase is also positively inclined towards the new meme-coin. eToro has asked SHIB fans to hang tight since the exchange is earnestly mulling listing the self-professed ‘Dogecoin Killer’. There’s plenty of life in this meme-coin yet!
