Shiba Inu Coin: Where To Invest And Why?

Shiba Inu (SHIB) is a decentralised, community-led cryptocurrency based on Ethereum. It was launched in 2020 and is now accepted as a form of payment at hundreds of locations, either directly or through third-party intermediaries. SHIB can be purchased on several exchanges, including Binance, Coinbase, Robinhood, Huobi, Gate.io, Uniswap (V2) and OKEx.

Where to buy Shiba Inu coin

Shiba Inu (SHIB) is a decentralised, community-led cryptocurrency that runs on the Ethereum blockchain. It was created in August 2020 by an anonymous individual or group called Ryoshi. It is considered an alternative to Dogecoin and is often referred to as a "meme coin".

SHIB can be purchased on several exchanges, such as:

• Binance
• Coinbase
• Huobi
• Gate.io
• Uniswap (V2)
• OKEx
• DigiFinex
• KuCoin
• Robinhood
• EToro

SHIB can also be bought on its native exchange, ShibaSwap, which is a decentralised finance (DeFi) platform built around SHIB.

The risks of investing in Shiba Inu

Shiba Inu is a highly volatile investment. Its value has fluctuated wildly since its inception in 2020, rising by as much as 4000% in three months, only to then lose 90% of its value. This pattern has repeated, with the price influenced by external factors such as social media sentiment and celebrity endorsement.

As a meme coin, Shiba Inu is purely speculative and is not designed with utility in mind. It is also highly susceptible to the influence of social media trends and celebrity endorsements, which can be unpredictable. For example, Tesla founder Elon Musk's tweets have previously caused the price of Shiba Inu to rise by 300%.

Shiba Inu is also a risky investment because of the competition from other coins. The market is constantly evolving, with new coins being created almost daily, which could dilute Shiba Inu's market share.

Another risk to consider is that Shiba Inu has a very large total supply of 1 quadrillion coins. This means that for the price of Shiba Inu to reach $1, it would need a market capitalisation almost twice the value of all real estate globally, which is highly unlikely.

Finally, it is important to note that investing in cryptocurrencies carries inherent risks. Shiba Inu, in particular, has demonstrated considerable price fluctuations, and its value has fallen by more than 90% on several occasions. Therefore, it may not be a suitable investment for those who are risk-averse or those without a high-risk tolerance.

How to buy SHIB on Coinbase

You can buy SHIB, the Shiba Inu coin, on Coinbase. SHIB is a decentralised, community-led currency that was launched in 2020 and is now accepted as a form of payment at hundreds of locations worldwide.

To buy SHIB on Coinbase, you will first need to sign up for a Coinbase account. You can do this through the Coinbase website or by downloading the Coinbase app on Android or iOS. Once you have created an account, you can buy, sell, convert, send, receive, or store SHIB.

Coinbase has also launched informational asset pages to help users understand and explore cryptocurrencies. These pages are designed to answer common questions about crypto and provide educational resources for users.

It is important to note that crypto is a new type of asset that can be volatile. It is recommended that you research and understand individual assets before you transact.

How to buy SHIB on Robinhood

As of April 2022, Shiba Inu (SHIB) is listed on Robinhood, and you can buy and sell it commission-free.

To buy SHIB on Robinhood, you will first need to sign up for a Robinhood Crypto Account. Robinhood is only available in the US, and for citizens of the country.

Once you have your account, you need to navigate to the top-left corner of the screen and choose a method to deposit funds into your account. The most convenient ways to do so are via a credit/debit card or a bank transfer.

After you deposit some funds into your account, you will need to purchase some stablecoins. USDT is the most popular stablecoin that can be used to purchase SHIB.

Once you have acquired USDT, you then need to navigate to the trading section of Robinhood and find the SHIB-USDT trading pair. From there, you will be able to choose the amount of SHIB that you would like to purchase.

How to buy SHIB on eToro

To buy SHIB on eToro, you'll first need to register for an account if you don't already have one. Opening an account is a simple process: just provide your email address and personal information, and verify your identity. You may need a valid photo ID or passport.

Before you buy SHIB tokens on eToro, consider long-term dedicated wallet storage for your tokens. If you aren't trading crypto regularly, it's not recommended to store SHIB tokens on an exchange. These platforms are known targets for hackers, and your assets could be at risk. Although many exchanges hold some level of insurance against losses, you are not guaranteed to recover all funds.

Dedicated crypto wallets come in two types: cold wallets and hot wallets. Hot wallets like exchange wallets are connected directly to the internet, while cold wallets keep your crypto offline. Cold wallets are considered safer.

If you want to buy SHIB on eToro, connect your funding source after ID verification. Fund your account by transferring the amount you wish to trade. Then, search for "SHIB" in the search bar and select "SHIB/USDT" or your desired trading pair from the drop-down menu. You can then place your order.

EToro is an innovative trading platform recommended for traders with deep knowledge and experience. It offers a copy-trading feature and doesn't have hidden fees, making it ideal for traders. The platform has an advanced crypto trading interface.

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