In social media and online channels, crypto users and beginners typically ask valuable questions like “How to buy SHIBA INU (SHIB)” or “Where to buy Shiba Inu?” If you’re as curious as these beginners about the SHIB coin, you can learn a lot from reading this article. Through this article, we will show you the basics of buying SHIBA INU (SHIB). Plus, you will also learn additional information related to SHIB and how it works.
SHIBA INU Buying Guide
Step 1: Make an Account In An Exchange That Supports SHIBA INU (SHIB)
To start buying SHIB, you must create an account in a SHIB-ready exchange. Finding this exchange is easy because there are dozens of active marketplaces nowadays.
Cryptocurrency exchanges differ from one another. Some of them have high-scale functionality while others have top-tier security and affordable fees.
- 500+ Cryptocurrencies Available for Trade
- Fees (Maker/Taker) : 0.075%*-0.1%*
- Sign-up bonus: 10% reduced trading fees*
- Available in Europe, Asia, Oceania, Africa
- 150+ Cryptocurrencies Available for Trade
- Fees (Maker/Taker) : 1.49%*-3.99%*
- 10$ Sign up bonus
- Available in North America, South America, Europe, Asia, Oceania, Africa
- 1000+ Cryptocurrencies Available for Trade
- Fees (Maker/Taker) : 0.2%*-0.2%*
- Sign-up bonus : Up to $500 in USDT vouchers*
- Available in North America, South America, Europe, Asia, Oceania, Africa
Registering to an exchange will take only a few minutes of your time. To start, you must enter your basic information details such as full name, email address, and a custom password. In some cases, the exchange will require you to register a home address and a phone number.
Other cryptocurrency exchanges may require you to fill up a KYC (Know Your Customer) form before proceeding with any crypto transaction. The KYC process is a security option implemented by heavily regulated exchanges.
Step 2: Add Funds to Your Crypto Exchange Account
Before buying a SHIBA INU (SHIB), you must add funds to your registered account. Depositing funds is straightforward because crypto exchanges allow users to purchase SHIBA INU (SHIB) through fiat currency. Some of the best examples of fiat currency are EUR, USD, and AUD. You can also add funds to your account through debit cards, credit cards, bank transfers, and convenient electronic wallets.
Just bear in mind that crypto exchanges offer various payment methods. These methods possibly have higher fees than the ones you’re commonly using. So, before depositing funds to your exchange account, do your own research about the associated fees. This way, you can prioritize the best method that matches your current budget.
Step 3: How to Buy SHIBA INU (SHIB) Officially?
Learning how to buy SHIBA INU coin (SHIB) isn’t too confusing. The first thing you have to do is to go to an exchange’s search bar. Most of the time, the search bar is located on top of the website page. Once you’ve located the search bar, start looking for SHIBA INU (SHIB). You can also look for SHIBA INU (SHIB) trading pairs. Afterwards, simply enter the amount of the SHIBA INU (SHIB) that you want to buy.
You must always double-check the transaction details to avoid errors or inconsistencies. Additionally, cryptocurrency exchanges will also refer you to their exclusive wallet software. This wallet is necessary for storing your crypto coins and tokens. However, you always have the option to create an individual software wallet. If you have extra money to spare, you can even purchase a highly encrypted hardware wallet with top-notch security.
Everything You Have to Know About SHIBA INU (SHIB)
The SHIBA INU (SHIB) token is an adorable cryptocurrency token based on the Ethereum blockchain. At first, many experts considered SHIB as a meme token limited to social media initiatives and online movements. However, as time went by, the SHIBA INU (SHIB) token became an asset well-respected by many professionals and organizations worldwide.
Currently, the SHIBA INU (SHIB) has 400 trillion tokens circulating on the Web. The maximum supply allowance for SHIB is 1 quadrillion tokens. The SHIB token also once held the nickname of ‘Dogecoin Killer’ because of its capability of outpacing DOGE.
Some of the powerful initiatives of SHIBA INU (SHIB) are Uniswap liquidity lock, direct support to India’s COVID-19 Relief Fund, and Buterin’s Ethereum burn strategy.
What Makes SHIBA INU (SHIB) Unique?
The unique thing about SHIBA INU (SHIB) is its dispersal among three notable market tokens. As you’re aware by now, the SHIB is the main token of SHIBA INU that allows investors and users to hold millions of their money in cryptocurrency. Next to SHIB is the precious and scarce LEASH token. The LEASH token has great incentives for coin holders and investors. And last but not the least, the BONE token represents the middle ground between the first two tokens. BONE is a governance token that gives users the power to vote on the SHIBA INU community’s projects.
Who Are the Founders of SHIBA INU (SHIB)?
The essence of mystery surrounds the creation of the SHIBA INU (SHIB) token. SHIB’s founder is only known by the nickname Ryoshi.
In the world of DeFi, people are aware that Ryoshi sent half of the total supply of SHIBA INU (SHIB) to Vitalik Buterin – one of the co-founders of Ethereum. Buterin burned up to $7 billion USD of SHIB to greatly decrease the concentration of monetary power and ease the congestion of Ethereum.
The SHIBA INU team consists of professionals, programmers, web designers, and IT experts who are willing to make big changes in the DeFi global community. This team continues to grow over the years while maintaining the principles implemented by Ryoshi.
What Are the Use Cases of SHIBA INU (SHIB)?
Just like other cryptocurrency tokens, SHIBA INU (SHIB) has multiple use cases and purposes. Understanding the use cases of SHIB will help you assess the nature of your investment.
These are the common use cases of SHIB:
- Asset for speculation and trading
- Lending and staking
- Passive income opportunities
- NFTs and various utilities
- ShibaSwap incentives
Official website: https://shibatoken.com/
Essential Points of the SHIBA INU (SHIB) Whitepaper
The SHIB whitepaper (also known as Woofpaper) highlighted some important points. These points discussed the implications of the SHIB, LEASH, and BONE tokens, as well as the essential parts of the ShibaSwap economy.
Check out the strong points of the SHIB Woofpaper:
- ShibaSwap dynamic strengthening through the Ethereum blockchain
- Shiba Inu Rescue Association support through Amazon Smile
- Token burying and digging mechanics through ShibaSwap
- Up to Triple Returns for Puppy Pools (mining pools)
- Exclusive Shiba benefits locked to #ShibaArmy through ShibaSwap
The Best Cryptocurrency Wallet for SHIBA INU (SHIB)?
After knowing where to buy SHIBA INU coin (SHIB), you should think about the security of your cryptocurrencies next. Thankfully, you can always choose from dozens of available cryptocurrency wallets. Your trading habits are the main factors that can determine the type of crypto wallet that you need. Basically, you can pick from two major types of wallets.
Hot storage wallets are also known as digital storage wallets. These wallets are linked online, allowing easy access on the go. Hot wallets are also cheaper than cold storage wallets. One downside of a hot wallet is its vulnerability. You probably need to use additional security measures to keep your hot wallet safe.
Cold storage wallets are physical hardware wallets. Since cold wallets are tangible and physical, their security level is unmatched. You just need to avoid misplacing your hardware wallet, especially if you’re keen on traveling all the time.
What Factors Affect My Choice of Crypto Wallet for SHIBA INU (SHIB)?
Check out the important factors affecting your choice of TOKEN (TICKER) wallet:
- Are you a regular trader? If so, then a hot storage wallet is the best choice for you. A hot wallet allows a quick log-in method to your chosen platform. In less than a minute, the integrated hot wallet will let you trade SHIBA INU (SHIB) right away.
- Not all wallets support a broad range of cryptocurrencies. The best crypto wallets are those that will let you trade hundreds of cryptocurrencies without limitations.
- In terms of security, a physical cold storage wallet is better than a hot wallet. You can simply store your cold wallet in a private safe deposit at home or the bank. Just make sure that your private seed phrase is unreachable by anyone.
- Setting up a hot digital wallet is free. On the other hand, getting a cold storage wallet requires money because you need to buy the physical hardware.
- Do you want to see detailed technical data for analysis? In that case, you can never go wrong with hot wallets. Most of the time, hot wallets generate technical analytics and detailed market insights to help you speculate. Some cold wallets also have analytics capabilities, as well as extra security options.
Are you eager to learn more about cryptocurrency wallets? Check out our “Crypto Wallets Overview” guide to learn more!
Ledger Nano vs. Trezor – Making the Right Choice
Now that you already know how to buy SHIBA INU (SHIB), you must consider going all-out by buying a high-quality cold storage wallet. As mentioned above, cold storage wallets have better security options and encryption.
When it comes to cold storage wallets, Ledger and Trezor are well-trusted brands.
Ledger is a popular cold storage brand because of its reliable built-in security parameters. The Ledger Nano hardware setting will only let you send cryptocurrency if you’re connected to a personal computer or device. The variations between Ledger products are related to colors, styles, additional features, and long-term durability.
If Ledger excels in security measures, Trezor takes the crown of intuitiveness and overall compatibility. Trezor’s UI is beginner-friendly, allowing fast trades once the device is ready. The security level of Trezor is also competent, making it a clear choice among crypto buyers and investors alike.
General Market Overview for SHIBA INU (SHIB)
Do you want to learn more about SHIBA INU (SHIB) and other cryptocurrencies? Check out our cryptocurrency blog and get all the relevant information that you need!
In our blog, you will find general data about the following:
- Trading speculation about SHIBA INU (SHIB) and other cryptocurrencies
- The current market prices and changes of cryptocurrencies
- Detailed price charts with comprehensive history
- Approximate current supplies of most crypto coins