Do you know Dogecoin? The cryptocurrency Shiba Inu (SHIB) is a cryptocurrency similar to DOGE, according to market experts. More and more people are looking for how to buy Shiba Inu, mainly due to the fact that people want to profit from the appreciation of this currency.
But how to buy Shiba Inu safely? Where to buy Shiba Inu? Do not worry, in this article we will clarify all doubts and we will also list a simple step by step for you to buy SHIB.
Table of Contents
What is Shiba Inu?
The Shiba Inu is a token coin represented by the breed of dog Shiba Inu, as well as in the Dogecoin. The context for the two coins is the same, a meme with the image of the dog.
It is a system based on the SHIB token, designed to become the biggest rival of Dogecoin.
The developers of the cryptocurrency Shiba Inu did not identify themselves, but deposited 50% of the tokens in the account of the co-founder of Ethereum.
They also donated 50 trillion of the SHIB currency to an Indian institute that helps in the COVID-19 pandemic. Let’s say that donating SHIB to the co-founder of ETHER had two paths: the first was to burn the tokens, that’s what happened, the creator burned 90% and the other 10% were given to charity. The second way was to put more Shiba Inu into circulation.
But, can you buy Shiba Inu yet? Yes, because with a move to burn the tokens, the founders were able to add more value to the tokens available for purchase.
Read Also: How to Buy SafeMoon Crypto.
Shiba Inu: did co-founder of Ethereum help create the coin?
Vitalik, co-founder of Ethereum received a large sum of Shiba Inu and burned the tokens. In a recent interview he said he would not be directly involved with the Shiba Inu project:
Vitalik: this cannot be in the hands of one person.
Also stated that the amount of existing Shiba Inu tokens do not offer liquidity, but, Shiba Inu is a project that does not lose focus, apparently printed the SHIBS to help charities.
Vitalik says that donations should be made in a serious way, as they took advantage of Dogecoin’s idea to accomplish something like Shiba Inu.
Where to buy the cryptocurrency Shiba Inu?
You can buy Shiba Inu at the largest cryptocurrency exchange, Binanace, Crypto.com, Atomic Wallet and KuCoin. Most SHIB investors have created an account at Binance to buy the tokens.
How to buy Shiba Inu on Binance
The market capitalization of the cryptocurrency Shiba Inu has increased and today SHIB is among the 30 most traded cryptocurrencies in the world, with the daily financial volume is 3 billion.
Remember that prices follow the market and fluctuate daily, so be careful when buying Shiba Inu. Even so, SHIB has become a liquid asset recently because of its popularity.
So in this tutorial, we’ll be focusing on Binance. The process to open an account is very simple, we will explain to you step by step so that you can buy Shiba Inu with ease.
- Firstly, create the account on binance’s official website, click “Register”
- Put your email and a strong password to register your account. Accept the terms of use and click “create account”.
- A confirmation will arrive in your email, check your account to log in to the Binance platform.
- Choose the security level of the account and activate it, you can choose, authenticate with: google authentication, SMS and 2FA.
- To buy deposit in binance account, click on the “buy crypto” menu. Select your payment method, being the most recommended credit card.
- In this last step, you will fill in your bank information, deposit amount in and you must confirm your identity on the same page.
Confirming your identity on Binance is essential to prevent financial fraud and process your payment quickly. That way you will be able to buy Shiba Inu safely and quickly.
You can still buy Shiba Inu through P2P transaction, i.e. through marketplaces where other users sell cryptocurrencies. But be careful: this is not one of the safest and cheapest ways.
Will Cryptocurrency Shiba Inu value itself?
There are 410 trillion SHIBs in an unusable address to take out the tokens of circulation. The creators’ intention was for Vitalik, co-founder of Ethereum, to help SHIB enter circulation, but without any agreement. The creators of Shiba Inu purposely sent the tokens to put on the market without warning!
There is a large supply of SHIBs, about 1 quadrillion of Shiba Inu tokens. As cryptocurrencies are governed by the law of supply and demand, the higher the supply, the lower the price. However, this is not the case for SHIB tokens. When Vitalik did not put the tokens into circulation and burned them, it helped in the valuation of Shiba Inu.
There is no basis for shiba inu’s current pricing, because in the sissy the cryptocurrency should follow the movement of the market of others. However, this is not what has been happening because when Shiba Inu (SHIB) is on the rise, Bitcoin and other altcoins are down.
All cryptocurrency experts do not recommend Shiba Inu, as in the long run there are no expectations of appreciation, just as it did not exist for Dogecoin.
On the other hand, although the experts said that Shiba Inu is worthless, the currency continues to value itself strongly, as happened with the Dogecoin. The fact that big names in the cryptocurrency market do not recommend SHIB is due to the seriousness of the project, as there is speculation that the cryptocurrency was created only to benefit its creators.
Is SHIB a fraud?
The term fraud or scam is widely used on the internet to refer to fraudulent financial activities involving cryptocurrencies. Experts claim that Shiba Inu is not a fraud. Like Dogecoin, Shiba Inu was born as a joke to investors, but it is a legitimate currency, even if it has controversial origins.
Another point to consider is the rumors that Shiba Inu was born to promote the enrichment of breeders. If that were the case, in fact, then yes the Shiba Inu would be a fraud. There are accusations on the internet involving developers, but nothing confirmed or proven, so follow at your own risk.
The Shiba Inu token can be weak and many novice investors do not know how to assess the risks of investing in this type of cryptocurrency. Therefore, always look for experts and make your own analysis about the project, invest carefully and carefully.
How to reduce risks with cryptocurrencies
This is a common tip for all investors: diversify their investments. This maximum also applies to investments in cryptocurrencies. That is, don’t bet all your money by buying Shiba Inu. Follow indications of those who know how to evaluate the project, search for professionals specialized in cryptocurrencies and choose other cryptocurrencies to diversify their investments such as: BTC, ETH, Dogecoin, XRP and many others.
The fact that any cryptocurrency suddenly appreciates itself does not mean that some event can happen in a few weeks and completely modify the market. Remember that the cryptocurrency market is volatile and risky, so don’t invest more than you are willing to lose or essential values for your survival.
Final considerations
The Shiba Inu token has the offer of almost 1 quadrillion SHIBs. This excess of offer is not encouraging for its valuation in the long run.
Therefore, there is no encouraging scenario if tokens are not burned as happened with co-founder of Ethereum. The fundamentals of shiba inu’s current pricing have been greatly influenced by the Dogecoin movement. Therefore, follow the market in real time to identify the best time to buy Shiba Inu, as well as the best opportunity to sell the cryptocurrency and realize your profit.
What is Shiba Inu?
Shiba Inu is a cryptocurrency token and its symbol is the dog Shiba Inu, as well as in the case of the cryptocurrency Dogecoin. Shiba Inu has emerged as a meme among investors and has become increasingly popular worldwide.
Is it worth buying Shiba Inu?
Whether or not it is worth buying Shiba Inu depends on several market factors. Today, the cryptocurrency Shiba Inu goes through a time of appreciation and price increase. It is worth remembering that the Shiba Inu emerged as a joke (meme), as well as the Dogecoin. It’s a real coin, even if it has controversial origins. Therefore, whether or not it is worth buying Shiba Inu depends on the risk tolerance of each investor.
Shiba Inu x Dogecoin which is better?
Answering the question whether it is better to buy Shiba Inu or Dogecoin depends on each. The two cryptocurrencies are quite similar, that is, they emerged as memes on the internet and became popular with investors. At this point, Shiba Inu and Dogecoin are quite alike. In addition, the two cryptocurrencies also go through a strong moment of appreciation, indicating that there are more people wanting to buy the coins. Thus, buying Shiba Inu or Dogecoin are interesting options for investors looking to profit from the appreciation of these cryptocurrencies.
