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Shiba Inu Coin
As of now pretty much anyone interested in cryptocurrency has most likely heard of Shiba Inu Coin but might not know the story or meaning behind Shib but I will it break down for you and show you the best ways to buy, sell, and swap SHIB. Shib Inu Coin was launched on August 01, 2020, with an opening price of $0.000000001335 USD and jumped to a high of $0.000000003277 USD on the day, since then it has risen to an all-time high of $0.000086 USD and has been a fluctuation in that range ever since.
SHIB started in August 2020 by dubbing itself the ‘dogecoin killer’ and quickly grew to fame in the crypto and meme community. At the infancy stage, it was characterized as a pump and dump scheme but has since been supported by people like Vitalik Buterin (the founder of Ethereum) who donated over 50 trillion SHIB (worth over $1 billion at the time) to the India COVID-Crypto Relief Fund, as well as Maru Taro and even being talked about by Elon Musk whos company Tesla might start accepting Shiba as payment for its cars and products.
Price of Shiba Inu
The price of SHIB started at $0.000000001335 USD on August 01, 2020, and is currently hovering around $0.00007 USD. The most recent rally in the price was most likely caused by a recent burn strategy that the founder announced.
Shiba inu price prediction
There is no way of knowing exactly where the price of SHIB will end up but if its popularity keeps growing and the founders stick to their burn strategy then it is possible that it can reach 1 penny or even more in the future. It is wise to remember that SHIB is widely known as a meme coin and generates much of its movement from social media and internet hype. This is not to say that it will not have a utility in the future but for now, its price and movement are based on popularity and speculation.
Current Price Of Shiba Inu:
How To Buy Shina Inu
There are multiple exchanges where you can buy Shiba Inu coins but we suggest Binance since it has the quickest transaction times and the most trading pairs on the market. As a secondary option, we suggest using Coinbase which is also a very trustworthy exchange but also restricts you from removing your deposited money for 5 days.
How To Buy Shina Inu on Binance
There are multiple exchanges where you can buy Shiba Inu coins but we suggest Binance since it has the quickest transaction times and the most trading pairs on the market. As a secondary option, we suggest using Coinbase which is also a very trustworthy exchange but also restricts you from removing your deposited money for 5 days.
Step 1: Sign Up With Binance.
You will need a Binance account that has been verified and validated to be able to buy, sell, and swap Shiba Inu on the BNB exchange.
Step 2: Deposite Fiat or Other Crypto Into Binance Wallet.
The best way to start buying and trading SHIB on Binance is to connect a bank account to do an ACH transfer which is the quickest and has the least fees. Second, connecting a debit card which is great for quick deposits of smaller amounts. Lastly, you can do a domestic wire transfer which is the best for larger amounts of cash but also comes with wire fees.
Step 3: Buy Tether (USDT) or Perfered Trading Pair.
Tether (USDT) is a token that was created to always be equal to $1 USD which will ensure that the money you put into Binance will stay stable and not fluctuate drastically like most other cryptocurrencies.
Step 4: Buy SHIB.
Now that you have your fiat converted to Tether (USDT) you can buy almost any crypto pairs that are available on Binance, including Shiba Inu Coin.
Buy Shiba on Binance Using Web Browser:
With USDT in your Binance account, you can now click Trade, then Markets, in the navigation menu then search the Binance market for SHIB (Make sure USDT is selected in the options). The second way is to go to your wallet, click the “Buy Crypto” button (Yellow button with the arrows), click where Bitcoin is selected then search and select SHIB. Lastly, you can select “Buy Crypto” from the navigation menu and click where Bitcoin is selected then search and select SHIB and buy. NOTE: If you aren’t able to find SHIB when you search for it, make sure you are using your USDT as a trading pair.
Buy Shiba on Binance Using Mobile App:
With USDT in your Binance account open the mobile app, select the market tab on the bottom (the icon with 4 lines), then select the USDT tab on top, then search for SHIB using the search function on the top right. The second way to buy on the mobile app is by selecting the wallet tab (Middle button on the bottom that looks like a wallet), selecting the yellow “Buy / Sell” button, select “Buy Crypto”, then search for SHIB using the search function on the top right.
Step 5: Store Crypto In Safe Place.
If you plan on saving your Shiba Coin for a long period of time (More than a few months) then it is smart to store it in a wallet off of Binance such as Ledger, Tresor, or Exodus.
How To Buy Shina Inu on Coinbase
Step 1: Sign Up With Coinbase.
You will need a Coinbase account that has been verified and validated to be able to buy, sell, and trade Shiba on the Coinbase exchange.
Step 2: Deposite Fiat into Coinbase Account.
There are multiple ways to buy cryptocurrencies like SHIB on Coinbase. You can connect a bank account, connect a debit card, connect your PayPal account, or do a Wire Transfer.
The recommended way is to connect a bank account to your Coinbase account so that you can deposit cash, withdraw cash, also buy orders will process instantly. Wire Transfers are recommended for single cash deposits greater than $25,000.
Deposite Cash on Coinbase Using Web Browser:
The first way to add a bank account to your Coinbase account from your web browser is by going to Profile Menu, then “Settings”, then “Payment Methods”. From there you can select the “Add a payment method” button and choose the option that is best for you.
The second way you can add funds to your Coinbase account from a web browser is by selecting the “Buy / Sell” button, then select “Pay with”, then choosing the option that is best for you.
Deposite Cash on Coinbase Using Mobile App:
The first way to add a bank account to your Coinbase account from your mobile app is by selecting the menu (three bars on the top left), then “Profile & Settings”, then “Add a payment method”.
The second way you can add funds to your Coinbase account from the mobile app is by selecting the round “Buy / Sell” button (Button with two arrows) on the bottom of the home screen, then “Add cash / Cash out”, then “Add cash”, then the payment method button, and lastly “Add a payment method”.
Step 3: Search and Buy Shiba Inu (SHIB) Coin.
Now that you have funded your Coinbase account it’s time to buy SHIB coin!
Buy SHIB on Coinbase Using Web Browser:
Using a web browser the first thing you need to do is press the “Buy / Sell” button in the menu, then select “Buy” then search for Shiba Inu and select it. Next, press “Pay with” and select your bank or available Cash. Last input the amount of SHIB you would like to buy and choose either One-time purchase, Daily, Weekly, Bi-Weekly, or Monthly for re-occurring purchases. Now select “Preview Buy” and make sure everything looks correct then press “Buy Now” and you are done!
Buy SHIB on Coinbase Using Mobile App:
Using the mobile app the first thing you need to do is press the center button with two arrows in the bottom navigation. Then select “Buy” and search for SHIB and select it. Choose the bank account or available Cash that you would like to pay with then input the amount of Shiba that you would like to buy and choose either One-time purchase, Daily, Weekly, Bi-Weekly, or Monthly for re-occurring purchases. Now select “Preview Buy” and make sure everything looks correct then press “Buy Now” and you are done!
Success! You now have Shiba Inu coins in your Coinbase wallet.
Step 4: Store Crypto In Safe Place.
If you plan on saving your Shiba Coin for a long period of time (More than a few months) then it is smart to store it in a wallet off of Coinbase such as Ledger, Tresor, or Exodus.
