Shiba Inu Coin is a cryptocurrency created by an anonymous person named Ryoshi. It is modeled after Dogecoin and supported on the Ethereum BlockChain. Shiba Inu Coin use the Japanese Dog, Shiba Inu, as their Mascot.
The coin is mainly a transferable token in its utility. The crypto ecosystem supports a Shiba Inu Coin Exchange called ShibaSwap.
How Much is Shiba Inu Coin Worth?
According to coinmarketcap.com, the Shiba Inu Coin price was USD 0.000008 in August, 2021. It had a trading volume of $421,351,677USD in that 24hour period. Its Coinmarketcap ranking was number 42. Shiba Inu Coin’s worth is subject to Market Volatility like every altcoin in circulation. This means that its price is subject to changes. You will need to monitor this in consideration of your purchase.
Ways to Buy Shiba Inu Coin
Online Platforms such as Binance, Atomic Wallet, Crypto.com, and KuCoin list Shiba Inu Coin (SHIB) on their exchanges for trading. You can check for a trading pair on the exchange of your choice, then buy an alternative coin. You can then change to Shiba Inu Coin from the crypto token you purchased on the exchange.
Open an Exchange Account
Exchanges in this day and age understand that there is a considerable demand for altcoins. There are two types of Exchanges on the market, Centralized exchanges and Decentralized exchanges(DEXs). Centralized exchanges are exchanges that allow you to purchase Shiba Inu Coin without the use of a crypto wallet. Some good centralized exchanges are voyager and Binance.
The decentralized exchanges, on the other hand, are great for ethereum based coins. This is because Ethereum’s Blockchain powers most DEXs. Some of the most prominent decentralized exchanges are Sushiswap and Uniswap. Before using a decentralized exchange, you need to have a Crypto wallet, which is mainly free to use. We recommend using a Hardware wallet, which stores your cryptocurrency on a physical device offline, acting as a deterrent to hackers.
If you are using a centralized exchange, you need to open an account by providing your Email and setting a password. After verifying your Identity, find the Shiba Inu Coin order book (SHIB) on your preferred exchange and make your purchase.
While using a decentralized exchange, like Uniswap, you will notice that they do not use order books for their trades. Decentralized exchanges use liquidity pools to determine the price for Shiba Inu Coin.
- Load money into your crypto wallet and buy Ethereum.
- Connect your Crypto Wallet to the exchange. In this case, connect it to Uniswap’s website.
- Swap your Ethereum from your wallet for Shiba Inu Coin. Your swap will reflect on the crypto wallet and show your Shiba Inu Coin balance.
Conclusion
In the current market, Shiba Inu Coin is experiencing a surge in its price. This presents a desirable offer to any crypto speculators out there. The ecosystem around Shiba Inu Coin has lent the project utility, and more platforms are offering it. This guide aims to make it easier to be able to buy Shiba Inu Coin.