How To Buy Shiba Inu From Coinbase

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The Shiba Inu Money has been in the news lately and has suddenly attracted a lot of involvement. But what exactly is the Shiba Inu Coin and where tin can you buy it?

The Volatile Crypto Market

Back in 2013, engineers Jackson Palmer and Billy Markus fabricated a joke cryptocurrency called Dogecoin. Featuring the Shiba Inu dog in the “doge” meme that was popular on the cyberspace at that time, Dogecoin was created to satirize the growth of altcoins on the cyberspace.

As the years went by, Dogecoin’s market capitalization slowly climbed, managing to attain a tiptop of $0.017 in 2018 thanks to a crypto bubble, the same one that made Bitcoin surpass a previous all-time loftier of $19,000 before crashing.

At the start of 2021, its price soared more 800% as Reddit users (who were pumping Gamestop and AMC stocks at that time) also took notice of the coin. Since and then, its toll has steadily gone down, indicative of the volatile crypto market.

What is Shiba Inu Money?

Later on the meteoric rise of speculative assets alongside Dogecoin and Gamestop, new crypto projects have started popping up, i of which is the Shiba Inu Coin.

Made by an anonymous private going past the name Ryoshi and dubbed as the “Dogecoin killer,” the Shiba Inu Money is a new decentralized meme token growing in a vibrant ecosystem. Featuring another Shiba Inu dog on its coin face, information technology started as an experiment and became an ERC20 token from Ethereum meant to challenge Dogecoin. What sets Shiba Inu apart from Dogecoin is its decentralized Shibaswap commutation. Every bit the digital coin is part of Ethereum’s ecosystem, users tin enjoy more functions like swapping tokens and staking (or gaining) yield. This is something that Dogecoin does non let.

Ryoshi started with a supply of 1 quadrillion tokens (1,000 raised to the ability of five). Not long after, Ryoshi locked half of the tokens in a decentralized finance protocol called Uniswap and sent (or “burned”) the other one-half, worth $1 billion to Ethereum co-founder Vitalik Buterin. The latter donated trillions of Shiba Inu Coins to India to help fund support for those affected by COVID-19, making it the largest crypto donation to date.

Shiba Inu Coin Price

Unlike Bitcoin, which is currently trading at around $35,000 per coin, Shiba Inu currently goes for about $0.00002161 per SHIB today, Wednesday (Oct 6), which is but a sliver of a penny. The logic is that this cheaper coin can get a bigger audience.

Recently, the value of the Shiba Inu Money soared because of the “Elon Musk effect,” after the Tesla founder tweeted about it. Nevertheless, the value crashed ten days after.

How to Buy Shiba Inu Coin on Coinbase

Now that you know about the Shiba Inu Coin, yous can diversify your portfolio and include it in your investments. Those who desire to bet on the Shiba Inu Coin will be pleased to hear that the altcoin has been added to Coinbase last June, making it easier to purchase and sell.

Here are easy-to-follow steps that will teach you how to buy the Shiba Inu Coin:

1. Make your Coinbase Account

If you already use Coinbase, so you may skip this stride. If non, then you may start by visiting the Coinbase website and clicking “create your account.” Provide the required information, choose a payment method and verify your account via email.

You can get a more detailed explanation of Coinbase and its perks by clicking here.

2. Click Buy and Pick Shiba Inu Money from the Crypto Avails

After setting upwards your account, open the app and click “buy,” where you will be shown the list of available crypto assets. Currently, Coinbase has over 25 cryptocurrencies available. Pick Shiba Inu Money (SHIB) before proceeding.

3. Input how much Shiba Inu Coin you’re buying

Pick how many shares of Shiba Inu Coin you lot’ll be buying. The money is currently priced at $0.00002161 per SHIB, so you can easily buy a lot. Ownership more coins too means you lot’ll have a higher potential for gains should the cost soars again.

4. Preview coin purchase

In one case you’ve decided how much you want to buy, click “preview” to check your toll. This will prove you the amount of SHIB coins y’all will be buying, the Coinbase fee and the payment method. Annotation that Coinbase deducts its fees from the amount you buy, so a $l buy will take a fee of $one.99 deducted from information technology. You tin can pay through your credit card or bank business relationship.

5. Receive a confirmation email

You lot’re done! You accept now purchased SHIB and the final stride is to wait for the confirmation email along with other relevant information. From here, you can add the Shiba Inu Money to your portfolio. You can also use the Coinbase wallet to protect it.

Should You lot Invest in Shiba Inu Coin?

Every bit with any altcoin operating in the crypto market, the Shiba Inu Money is volatile and its price will likely go upward and down.

As an altcoin, the Shiba Inu has an advantage over Dogecoin since it has more than applications than the latter. Being role of a vibrant ecosystem on Etherium also means that it has more chances of taking off. The crypto used to create it (Ethereum) is also one of the more reliable digital coins around, with its technology being utilized past major institutions.

Interested in buying your outset Shiba Inu Coin? Start today by signing upwards on Coinbase here.