How to Buy Shiba Inu Coin- The Easiest Way To Buy
Shiba Inu is a decentralized cryptocurrency created as an alternative to Dogecoin. It was created in August 2020 by an anonymous person called “Ryoshi”.
How to Buy Shiba Inu Coin: Some Facts About Shiba Inu
- Shiba INU (SHIB) has been intentionally designed in abundance.
- The coin was launched with a 1 quadrillion supply, 50% of whichich was locked in Uniswap while the other half was transferred to Ethereum co-founder Vitalik Buterin for safekeeping.
- Buterin donated and burned all of his holdings in early May, tanking the price of coin.
- ShibaSwap has received an audit that revealed centralization risks where a developer had the authority to “withdraw all the ERC20 token boneToken to any arbitrary address” that they wished.
How to Buy Shiba Inu Coin?
Shiba Inu, the Ethereum based Cryptocurrency which is gaining with every passing day. Like most of the Alt coins, Shiba Inu has similar steps to purchase. Here are are the steps for “How To Buy Shiba Inu”:
- Finding a crypto exchange that has Shiba Inu coins listed
- Create an account with the Exchange
- Verify your identity
- Fund the Wallet
- Make the Purchase
Finding a Crypto Exchange that Sells Shiba Inu
The very first step to buying Shiba Inu coin is to find an exchange offering Shiba Inu for trade-buy and sell. There are many exchanges offering Shiba Inu coins however, one must make sure that the exchange comes with a built-in wallet. The wallet is where you will be adding the amount for trading Shiba Inu coins.
Create an account with the Exchange
Once the exchange is finalized, the next step will be to create an account with the exchange. For creating an account you will be required to enter your personal details like Name, Phone number, Email and also Bank Account details.
Verify Your Identity
Once you have created your account, you will be required to verify your id. To verify id, make sure you have your ID documents ready before you begin. In most cases, acceptable forms of ID will include a passport or driver’s license.
Fund the Wallet
Once your ID is verified, your account is activated. When your account is activated, you can deposit fiat currency. It can be the US Dollars or any of the other fiat currencies they accept. There are different methods of funding your accounts, such as bank transfers from a checking or savings account, PayPal, wire transfers, a cryptocurrency wallet or even a credit or debit card.
Make the Purchase
Once you have funded the wallet, you will now be able to purchase Shiba from the respective Exchanges.
Storing of Shiba INU
After your purchase of Shiba Inu has been processed, you have to store your cryptocurrency. While some platforms will store it for you, some people opt to store their investments themselves to reduce the likelihood they will lose their crypto to a hack.
Where to Buy Shiba Inu Coin?
There are several platforms where you can buy Shiba Inu. Few famous exchanges offering Shiba Inu are Binance, Crypto.com, Atomic Wallet, Voyager and KuCoin.
You can also buy SHIB on Uniswap (via Trust Wallet), which requires you to exchange Ethereum for SHIB.
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