• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Sunday, June 22, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto

What You Should Know Before You Buy Shiba

by Rohan Mathawan
September 27, 2022
in Crypto
Reading Time: 4 mins read
0
What You Should Know Before You Buy Shiba
TwitterWhatsappLinkedin

If you’re planning on buying Bitcoin, then you’ll need around $38,000 just to purchase a single coin. On the other hand, if you’re interested in investing in Shiba Inu (SHIB), then you can get almost a billion SHIB for the same price. Shiba Inu is a kind of crypto that’s commonly referred to as a meme coin due to how its origin can be traced back to internet memes. Currently, it’s among the top 15 cryptocurrencies.

You might also like

Arizona Legislature Revives Bitcoin Reserve Bill for Seized Crypto

Texas Charts Bold Financial Course with First Ever Publicly Funded Bitcoin Reserve

All cryptocurrency holders can earn $5,625 per day, GMO Miner makes this a reality.

What is the Shiba Inu Cryptocurrency?

In August 2020, Shiba Inu was created as an alternative to Dogecoin, which bills itself as the world’s first dog-based cryptocurrency. Unlike other cryptocurrencies, this one has a relatively small supply.

One factor that sets Shiba Inu apart from other cryptocurrencies is its decentralized nature. This has led to many crypto investors wanting to buy Shiba. Its community, which is known as the SHIB Army, is mainly focused on buying and trading cryptocurrency.

Despite its decentralized nature, Shiba Inu is still considered risky. According to the CoinFlip chairman and co-founder, it’s not as stable as other cryptocurrencies. In October 2021, the price of Shiba Inu hit an all-time high after Elon Musk, the CEO of Tesla, mentioned the cryptocurrency on Twitter. However, since then, its value has dropped by over 65%.

According to analyst Madeline Hume of financial services firm Morningstar, Shiba Inu and other similar cryptocurrencies are not recommended to investors. Hume stated that Shiba Inu is not an investment. It’s a meme coin that derives its value from the enthusiasm of its users rather than fundamentals. This makes it difficult to predict its future returns. Shiba Inu’s speculative return pattern is also difficult to predict.

Shiba Inu supports various projects, such as the Shiba Swap decentralized exchange. It also allows non-fungible tokens to be issued through its ecosystem.

Where to Purchase Shiba Inu Crypto?

Various platforms allow users to buy and sell Shiba Inu. You can also exchange U.S. dollars for cryptocurrency on platforms such as FTX, Coinbase, and Bitfinex.

To convert Shiba Inu to a stablecoin, such as the USDT, it’s usually necessary to perform a trading pair. For instance, you can pair up with exchanges like KuCoin and Binance to buy and sell SHIB. Binance will also let users pair their SHIB with DOGE.

How to Buy SHIB

If you’re comfortable with the risks associated with buying and trading Shiba Inu, then follow these steps.

1. Choose an Exchange to Use

Before you can start trading Shiba Inu in the U.S., you need to find an exchange that accepts cryptocurrencies. A crypto exchange is a marketplace that allows users to trade and buy and sell various types of digital assets.

Before you start trading cryptocurrencies, the exchange you choose must be secure. According to experts, a trustworthy platform should allow its users to trade safely.

There are various types of platforms that allow users to trade cryptocurrencies. For new investors, some platforms provide a basic approach. Others offer advanced features such as futures and margin accounts.

2. Purchase SHIB

After you’ve chosen an exchange, you can open an account and start to make deposits. The amount of money that you’ll be investing depends on various factors. Once you have funded your account, you can start investing in SHIB. However, make sure that you only use the money that you don’t need to cover your essential expenses.

To make an order, go to the exchange’s website and enter the details of the transaction, such as the amount of money that you want to spend. Most platforms also allow users to select the type of order they want to place.

3. Choose How to Store Your Shiba Inu Crypto

There are multiple ways you can store your SHIB. The first is by using hardware wallets. These types of hardware wallets allow users to store their assets without exposing their data. Some of the popular hardware wallets that support the Shiba Inu include Trezor and the Ledger.

Another way to store your SHIB is by using offline storage options. This type of storage is commonly referred to as a cold wallet, and it’s considered a secure way to store SHIB since it doesn’t require an internet connection. Paper wallets can also be used to store your cryptocurrency. These types of wallets allow users to generate private and public keys for their digital assets.

Using software wallets is also a way to store your crypto. A desktop wallet is commonly referred to as a hot wallet. It can be used to store various types of digital assets, such as SHIB. Another type of wallet is called Exodus, which can be used to store multiple currencies.

Lastly, you can decide to store your SHIB in your exchange. Many exchanges that offer SHIB trading will let you store it on their servers. Some of the exchanges that offer this are Binance and Coinbase.

Is Investing in Shiba Inu Worth it?

Although Shiba Inu is very popular on social media, it’s important to consider other options when it comes to investing in the cryptocurrency market. For instance, if you’re planning on investing in blockchain companies, then consider using exchange-traded funds. These are funds that invest in different types of cryptocurrencies.

 

Tweet54SendShare15
Previous Post

OnePlus 10 Pro price below Rs 55,000 for this Amazon Great Indian Festival Sale

Next Post

5 Tips on Purchasing Chainlink

Rohan Mathawan

Content Editor at Techstory Media | Technology | Gadgets | Written more than 5000+ articles about different niches from Tech to online real money gaming for reputed brands and companies. Get in touch Email: [email protected] For Business Enquires related to TechStory [email protected]

Recommended For You

Arizona Legislature Revives Bitcoin Reserve Bill for Seized Crypto

by Anindya Paul
June 22, 2025
0
Arizona

The Arizona Senate has revived the campaign to create a formal reserve of cryptocurrencies seized by state agencies. On 19 June 20225, lawmakers passed House Bill 2324 (HB...

Read more

Texas Charts Bold Financial Course with First Ever Publicly Funded Bitcoin Reserve

by Anindya Paul
June 22, 2025
0
Texas Bitcoin

Texas has taken a significant leap towards redefining public finance by carving out the country’s first stand alone, publicly funded Bitcoin reserve, signing Senate Bill 21 (SB 21) into...

Read more

All cryptocurrency holders can earn $5,625 per day, GMO Miner makes this a reality.

by Techstory
June 22, 2025
0
All cryptocurrency holders can earn $5,625 per day, GMO Miner makes this a reality.

In 2025, cryptocurrency cloud mining has become the focus of media attention, sparking a strong interest in the public's way to obtain digital assets. Traditional mining often requires...

Read more
Next Post
5 Tips on Purchasing Chainlink

5 Tips on Purchasing Chainlink

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?