For the past two years, cryptocurrencies have proven to be a good place to invest and make good profits. Especially during the pandemic, they not only support many people but also help them grow while staying at home. There are hundreds of cryptocurrencies available on the cryptocurrency market. Some of them are really good and have quickly risen in value. The SHIBA coin is one of the fastest-growing and most adoptive digital currencies of this time.
How to Buy SHIBA Inu Coin?
1: Buy SHIBA Inu Coin Through Binance
Step 1: SingUp for Wallet
Step 2: Transfer or Buy Ethereum / USDT on Binance
Step 3: Trade Ethereum into USDT then USDT with SHIBA INU Coin on Binance
What is a SHIB Coin?
The real name of the SHIB coin is Shiba Inu Coin. But everyone called it by its short name. It is the name of a breed of dog. Which is inspired by Dogecoin and became famous by the nickname, the Doge Killer. Surprisingly, it has been listed on the most popular cryptocurrency exchanges and has become very popular with Chinese merchants.
DOGECoin was created as a joke and has a market capitalization of about $ 100 billion that was impossible two years ago. DOGE’s rise was due to Elon Musk. he continually talked about it and tweeted multiple times on Twitter. And he has shown that a little thing can skyrocket if people start to believe in its worth. Which has sparked the deployment of thousands of coins on the market in hopes of becoming the next Dogecoin.
The Shiba coin is the next Dogecoin. Shiba Inu coin price has gained 500% growth only in one week which is due to large purchase volume and hype created by the community.
According to the website of Shiba Inu Coin, they have locked up the 50% supply to Uniswap, which is a decentralized protocol used in the blockchain of Ethereum. The remaining 50% is taken by the co-founder of Ethereum VitalikButerin. They also stated that everyone should have the right to buy cryptocurrency in the open market. No one should dump them in the community. Same with other cryptocurrencies you should think deeply before investing in it. Because it is not regulated by any authority and can be very volatile in the coming days.
Why was the Shiba Inu Coin Created?
Along with many other reasons behind the creation of Shiba Coin is that people forget where they bury their wealth according to the SHIBA INU. The coin was also created to give Dogecoin some competition.
As people have seen dogecoin go up over 5000% this year, they think that if one joke coin has that much value, another same joke coin can show the same results as long as people trust it and put their money into it.
According to the website of the coin, the coin is the first coin that allows users and holders to have a billion trillion of them. It can stay well below the price of a penny and can still defeat Dogecoin very quickly. SHIB is ranked 17th out of the top 100 digital currencies on Coinmarketcap’s ranking list and is continually improving its ranking.
Also Read: How to Buy BitTorrent BTT Coin?
What is the Price of Shiba Coin?
Same as other digital currencies, the price of Shiba Coin is volatile. As the value of the Shib coin, it is fluctuating between 0.00002560 dollars and 0.0003358 dollars at the time of writing this article.
The Dogecoin had a steady incline since the start of the year. But still, it has not hit the price line of 1 dollar.it only has hit an all-time high of 0.74 dollars till writing this article.
But the Shiba Coin has a market cap of 11.7 billion dollars and Dogecoin has 67.24 billion dollars which is a little bit low where Forbes has placed it at the start of May, which was 69 billion dollars.
Please note: Market limits and value of any type are done in real-time and may therefore be subject to change.
How to Buy Shiba Inu Coins?
Buying SHIB Coin is very easy because a number of crypto exchanges have listed it in the cryptocurrency list. But you can not purchase it directly with your local currencies on many exchanges. But it does not mean that you can not buy it.
To buy Shiba coin you have to buy bitcoin or any other digital currency accepted in your chosen exchange and exchange it with the Shiba coin.
How to Buy Shiba Inu Coin on Binance?
Just like any other currencies, you can Buy Shiba Coin using the platform Binance which is a reliable platform for trade and exchange it provides a variety of services with a user-friendly interface. Here is a step-by-step guide to buying Shiba Inu coins on Binance. If you are a newbie and do not know much about cryptocurrencies these steps will really helpful for you in creating an account and purchasing your first digital currency
Step 1: Register or Open an Account
Because you can not buy Shiba Inu directly from the market with local currencies, as we mentioned above, you have to open an account with any one of the trusted exchanges so you can buy any major digital currency and Shib coins. You can use your local fiat currency to buy Shib coins. Most Bitcoin or Ethereum are used to buy this type of Altcoins. These two currencies are highly accepted on almost every platform including Binance. To buy these currencies you have to register first.
The registration is very easy. You can open your account using your laptop or even by using your smartphone the process of opening an account is very easy. You just have to enter your email or phone number including your country code. The system will send you a verification code that you will enter and do the further process like completing your profile that will include your first and last name. Your date of birth and address. This process is so easy and fast that it will not take more than two minutes to complete. You will be the account holder at the crypto exchange.
Step 2: Deposit Funds
Once you end up with the account opening and KYC process. You will certainly be asked to include a payment method. Below you can either choose to give a credit/debit card or utilize a bank transfer. You will certainly be charged greater costs when utilizing cards but you will additionally make an instant purchase.
While a financial institution transfer will certainly be less expensive yet slower, depending upon your geolocation, some countries will provide instantaneous cash money deposits with low costs, such as suitable in some European nations.
Step 3: Buy SHIB Coins
Now you are all set, choose the Shiba Inu coin or any other coin you intend to get and verify your purchase. Also, congrats! You just made your very first crypto purchase. After getting your coins you can now trade or just hold it for a long term. There are not any kinds of restrictions from the exchange.
Mostly people use these kinds of coins to store their wealth along with gaining good profits. Because these types of coins gain value multiple times which sometimes increase more than 2000%.
Step 4: Trading with Shib Coin
After purchasing Shiba Inu Coin, you can either trade it or hold it as we mentioned above. It totally depends on you. How you want to deal with your money. If you want to trade then this platform also facilitates you in this regard. Depending on your nationality, geolocations, and policies of the platform may they ask you again to go through the KYC process. It is very simple as you have done before. Verification sometimes takes a few minutes and sometimes up to two days.once the process is complete you are free to go through and make trades and have full access to your wallet.
If this is your first time with any digital exchange, the screen may look scary at first time. But soon you will be familiar with it. Because opening an account, making funds transfer and trading is much easier than traditional bank account opening and trading which takes too much time and effort. This system gives you full control over your money. Because it is basically a peer to peer base technology and not controlled by any third party, you have to pay almost nothing or very little fee to make transactions.
Can Shiba Inu Coins Reach the Value of $1 ?
Everyone is asking the same question, will the Shiba Inu coin reach the $1 value ? if we see Dogecoin which is rising steadily along with many other names, including Bitcoin and Ethereum. It is no wonder that Shiba will beat out its competitor very soon.
The creation of Dogecoin was a joke by its creators Billy Markus and Jackson Palmer. Many people have invested in it and it has grown in value. It reached this point due to the talks and tweets of Elon Musk on Twitter. The Shiba Inu Coin appeared as a part of a decentralised exchange platform. Investors and fans of Shiba Inu Coin expect that it will follow the path of Dogecoin and soon will cross it.
According to some experts, the currency has not the capacity as dogecoin has because it has not shown much growth. But if we see the charts of previous days we find that while other major currencies are dipping, the shiba Inu coin is making its way upwords.
Some crypto gurus say that it is created to give Dogecoin a run for its money. As many people were expecting, Dogecoin will reach $1 but it returned from $0.75 all time high prices. But when we see the movement of Shiba Coin it seems more stable than Dogecoin so we can say that it is more stablecoin than its competitor Dogecoin.
Currencies that have low price volatility and a steady rise in price are called stable coins. Shiba Coin could be a perfect Stablecoin. If it hits the $1 mark, it will become a solid currency and more and more investors and traders will trust it as a store of value. Being a stable coin, the price will not take a sudden dip. But it also means that it will not reach the $1 mark soon due to a slow rise in price.
Shiba Inu Coin Could be the Currency of the Future
Shiba Coin has gained so much popularity that no other currency has. There are hundreds of cryptocurrencies out there in the market. With hundreds of crypto coin options available, it is the most popular without a doubt. It appears to be no get away from reading about Shiba Inu Coin and several states it might eventually soon take over whatever. According to some specialists, this digital money can one day remove and take the place of traditional currencies.
Cryptocurrencies have currently overcome many of its first challenges that constantly exist for any kind of new creation of this size. Since winning a record-breaking court battle versus the FBI in 2016, as well as earning the trust of people,count on gradually despite the fact that many were initially hesitant, the Digital currencies has been able to browse all its significant difficulties efficiently up until now.
At this moment, there does not seem to be much left in the means to this cryptocurrency ending up being the globe’s global currency. Here are my reasons as to why I believe that digital currency such as Shiba Coin will be the currency of the future;
SHIB Coin Is Safe
Blockchain employs a sophisticated degree of safety that is very difficult to violate. It is a product of modern technology. What enters your mind when you hear the word blockchain? Most likely a cutting-edge level of safety, which no one can breach, at the very least that is what concerns the minds of many individuals.
Several leading hackers have tried to breach the system but they did not get success. It is very hard if not difficult to hack into a record or ledger as well as take a person’s digital asset. The exact same cannot be said for traditional currencies or online assets because they are very at risk of theft.
For example, even if a robbery is successful, if you leave the digital currency at risk on your hard drive, the coins can’t be sold later as they will always have the ability to be found to the last.000000001.
This extreme level of security makes the currency appealing to numerous investors and traders. Knowing that nobody can take their digital currency can offer people more self-confidence in Shib coin than in traditional fiat currencies.
Accepted by Many Big Organizations
Cryptocurrencies are beginning to get approved across the board. Lots of companies currently accept this digital currency as a different method of repayment. You have possibly found many websites that allow you to make payments using Digital currencies. It is likewise worth pointing out that some nations have embraced the use of virtual currencies to an extent that they also have Crypto Atm machines. In the USA, Canada, Austria, United Kingdom and also a few other countries, these devices are gradually gaining grip.
We anticipate seeing more nations do the same over the next couple of years. At this price, it effectively might totally replace standard currencies such that people will certainly have the ability to utilize it to spend for any kind of item or bill whether it is a grocery store, air ticket, or college fees.
Very Attractive for Investors
Many websites and platforms have lately broken the code and made it incredibly basic to purchase SHIB coins and other digital currencies with Paypaland also many various other alternatives. Due to the ease of entry there are several financiers who are getting in the market and also buying Shiba coin very fast. As more and more investors begin acquiring Shiba coins, it will just continue to rise in appeal as well as reliability.
There seems to be no way to avoid hearing about the SHIB coin and experts and professionals say that one day it could soon take over everything. Likewise, it is worth discussing that some countries have accepted the use of digital currencies to the point that they even have Crypto Atm machines. Platforms and exchanges have recently cracked the code and have also made buying digital currencies with Paypal and many other options greatly easier. It is extremely challenging, if not difficult, to hack into a Crypto wallet and steal digital assets. For many crypto users, this is one of the most important selling points.
Considering these points, there is no doubt that Shiba Inu Coin and other digital currencies can become a much more important part of our daily lives faster than we assume. In fact, experts predict that it could change traditional currencies in a decade from today if things move along the way. If you haven’t started using SHIB coins, it’s about time you tried them to the bare minimum. It won’t stick around in case they really take off as anticipated.