How To Buy Shiba Inu SHIB

how to buy shiba inu coin

Otherwise, your wallet address will show that you have Shiba tokens but they will not be visible in your wallet interface. Once you do, Coinbase will automatically close the asset selection box and take you back to the original screen to select the number of SHIB tokens you wish to buy. Shiba Inu may have started out as an experiment with the hope to replace DOGE, but the community behind the asset has been working to give the token some real-world utility.

how to buy shiba inu coin

Another fact about Shiba Inu is that it’s a decentralized cryptocurrency project. Its growth is driven by its community, the self-proclaimed SHIB Army, who are focused on trading and buying the crypto. Additionally, the exchange will show you the transaction fee for performing the trade. Therefore, decentralized platforms can operate without requiring to comply with any KYC provisions.

How to Buy Shiba Inu token on Coinbase (Step-by-Step)

Run through the details as shown on the screen and confirm if you are comfortable with the terms. Similarly, also choose the SHIB token in the second section. Metamask will show you a preview of the custom token for you to confirm before importing it. To add SHIB to Metamask, you will need the Shiba Inu ERC-20 contract address. You can get this contract address from CoinGecko or CoinMarketCap.

Kat has expertise in insurance and student loans, and she holds certifications in student loan and financial education counseling. While Shiba Inu is popular, especially on social media, invest cautiously. And if you’re trying to convert your stash of SHIB into Dogecoin.

If you want to use another cryptocurrency, check if your exchange offers conversion to SHIB from other digital assets you own. This is true for both centralized and decentralized exchanges. Not every exchange will provide the crypto-to-crypto trading pair you want to use. Binance is the leading crypto trading platform by daily trading volume, supported coins/tokens, coverage, and products/features. Whatever blockchain-related product or service that you need, Binance probably has it.

how to buy shiba inu coin

Starting with the first option, click on the Bitcoin tab next to the Buy form field description to open the list of assets to purchase. Kraken is another US-based crypto exchange headquartered in San Francisco, California. It was established in 2013 and unlike Coinbase, which has reported a minor security incidence, Kraken has not suffered any.

Other SHIB ecosystem features are The Shiba Incubator for Art, the aforementioned decentralized autonomous organization (DAO) DoggyDAO, and the Shiba Inu Rescue Association. Through the rescue association, the #ShibArmy donates funds to help dogs in need globally, especially the Shiba Inu breed. The problem with Buterin’s large SHIB ownership is that if he decides to sell his tokens, SHIB’s price will experience a severe plummet — and that’s exactly what happened. On May 12, Buterin announced that he sold $1 billion worth of SHIB tokens for charity.

What Is Shiba Inu?

Like crypto stalwart Dogecoin, Shiba Inu was inspired by the popular “Doge” meme — a widely circulated picture of a shiba inu dog. And it’s one of the largest among several other crypto projects that have used the dog as a mascot. Doing your research before buying any cryptocurrency, especially meme tokens, is important. Many cryptocurrencies look legit, but more research can show you the ones worth investing in. A good rule of thumb is to read the whitepaper or litepaper of the crypto you intend to buy; a litepaper, if you can find it, is better. It is the concise version of a whitepaper that will give you the information you need to make a better decision.

On May 16, to SHIB holders’ delight, Buterin announced that he burned 90% of his Shiba Inu coins, and planned to donate the remaining 10% to charity. Burning tokens increases scarcity, and as a result, the price is likely to go up. After a tumultuous week, there’s finally hope for Shiba Inu coin — the cryptocurrency dubbed “the Dogecoin killer.” If you decide to invest in SHIB, you’re betting that more people will be interested in using products built using its technology — driving up demand. You may also believe that SHIB’s community of users will attract people away from more buttoned-up cryptocurrencies. NerdWallet, Inc. is an independent publisher and comparison service, not an investment advisor.

  1. This means that on UniSwap, you can earn by contributing towards the liquidity of the various tokens supported and also swapping between assets.
  2. The tokens are easily accessible due to the popularity of the project and the meteoric rise of the value of the $SHIB tokens over 2021.
  3. On May 12, Buterin announced that he sold $1 billion worth of SHIB tokens for charity.
  4. Our partners cannot pay us to guarantee favorable reviews of their products or services.

Shiba Inu is one of several cryptos that are called “meme coins,” thanks to their origins in popular Internet memes. Today, SHIB ranks among the top 15 cryptos based on market capitalization. If you’re ready to join the SHIB Army, here’s how to buy Shiba Inu.

Minimum Deposits

However, the Ethereum blockchain is undergoing one of the biggest and most important upgrades that will see it become cheaper, more eco-friendly, and much faster to transact on. As a result, all ERC tokens will inherit these qualities including SHIB, BONE, and LEASH. Gemini is also allowing New Yorkers to purchase Shiba Inu on its platform, too. In the “Buy SHIB” section, click on the 100% button, which will ensure that all of your USDT is swapped for SHIB.

The first step is to access the Coinbase homepage and log in using your username and password. If you do not have a Coinbase account, you will have to sign up and verify your identity before coming back to proceed with this tutorial.

“The largest drawback to investing in Shiba Inu is that it is very risky, even more so than most of its crypto counterparts,” Polotsky said. If you want to buy Bitcoin, you’ll need at least $38,000 to buy a whole coin. But if you invest in Shiba Inu (SHIB), you can buy more than a billion Shiba Inu for the same amount of cash. At this stage, ensure that you transfer some Ethereum to your Metamask wallet to use as the swap asset on UniSwap.


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