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How to Buy Shiba Inu Coin (SHIB) in 3 Simple Steps – CoinJournal

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Shiba Inu coin appeals to fans of both crypto and dogs with a doge inspired meme token that has developed to fuel a dynamic ecosystem. Keep reading to find out how to buy SHIB and why some are calling it the “Dogecoin killer” within the crypto space.
Finding a crypto platform that supports SHIB will be your first step towards buying it. It is a good idea to find one that you can navigate easily and that charges fees you’re happy with. There is more about platforms later in this guide, but if you can’t wait to get started, sign up now with our top recommended platform.

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Click “Register” or “Create an account” to get started. You will need to supply some personal details on the registration form and you may also need to provide a photo ID and/or proof of address for verification purposes. Then go to the deposit page and choose a payment method with which to fund your account.
Find the trading pair for SHIB and the fiat currency (likely USD) you just deposited. If there isn’t one, you may first have to trade your deposited currency for a cryptocurrency such as USDT or BTC which is in a SHIB trading pair. Create a market order to purchase now or a limit order to buy it at a specified future Shiba Inu price.
Sign up with our recommended partner eToro now to get started. Once you’ve signed up, verify your account by uploading some form of photo ID and proof of address.
Next, you’ll need to purchase some ETH to swap for SHIB. Fund your account with your preferred payment method, then search for ETH. Select the trading pair with your local currency, and click “buy”.
Next, set up a Web 3.0-compatible wallet like MetaMask or Trust Wallet—you’ll need this to swap your ETH for SHIB. Paste your wallet address into the “withdraw” section of eToro, and transfer your ETH.
Go to Uniswap and connect your wallet. Your wallet will display a few prompts to confirm the connection, and after that, you will be able to complete your swap.
Find the coin’s pair here, enter the amount you want to buy, then complete the swap. Your SHIB will immediately display in your wallet.
There are plenty of crypto platforms but a regulated one with a strong reputation is the most likely to be secure. Not every platform offers Shiba Inu coin, but there is no need to trawl through them all as we’ve already shortlisted the top exchanges and brokers for buying SHIB coins below.
Shiba Inu is a decentralised meme coin inspired by the craze for canine cryptocurrencies such as Dogecoin. The Doge inspired project created ShibaSwap, a decentralised exchange (DEX) where users can SWAP tokens, as well as DIG (provide liquidity) and BURY (stake) them to earn returns. The platform also provides access to portfolio trackers and upcoming non-fungible tokens (NFTs).
Other parts of the project include the Shiba Inu Incubator, which supports artists from the Shiba Inu community, and an Amazon Smile campaign to help rescue Shiba Inus in the real world.
Shiba Inu has three project tokens, the first of which is SHIB. The token was created with a supply of 1 quadrillion, enabling investors to hold billions or even trillions of tokens. SHIB was designed to outpace Dogecoin in terms of growth, even if it never reaches $0.01, which earned it the nickname of the “Dogecoin killer”. SHIB coins can be swapped, staked, and used to provide liquidity on the ShibaSwap DEX.
Find out more about the invention of Shiba Inu coin and its benefits on our main SHIB page, and for further information check out the Shiba Inu website and whitepaper.
You may decide to buy Shiba Inu just for a short period of time, or hold onto it for the long term. Both approaches are popular with buyers, and you will need to consider your own skills and goals when deciding what course of action to take. 
As you might have guessed, this strategy simply involves buying SHIB and holding onto it. You won’t have to spend time and effort monitoring the market, as this strategy can be profitable for people with minimal knowledge and skill. In order to make the best of your initial buy be sure to follow the Shiba Inu price first.
While you’re holding onto your SHIB, you also have the opportunity to generate some extra income. You can stake your tokens or use them to provide liquidity through ShibaSwap to earn rewards.
A private wallet can be a good place to store tokens for long-term investors as it provides better control over your tokens and can be more secure. Software and hardware wallets are the most popular options.
Software wallets, which can be downloaded onto computers and mobiles, are free and easy to use. Some software wallets are held by crypto exchange and your account with them allows you to access the wallet.
 Hardware wallets, like Trezor, BitBox, and Ledger, can be costly and less user-intuitive, but they are more secure than software wallets.
Those with more time and skill may choose to trade SHIB, which involves buying and selling over shorter timeframes to take advantage of volatility. You may have to monitor the market more closely to identify the best entry and exit points. 
It can be time-consuming and expensive to regularly transfer tokens between a private wallet and an exchange for trading. Although web wallets are less secure, they may be the most convenient option for traders.
With Shiba additional consideration needs to be made as wether to trade on centralised or decentralised exchanges.
This is up to you, but we can provide you with some information before you make your decision. Although the starting supply of SHIB was 1 quadrillion, half of this was sent to Ethereum co-founder Vitalik Buterin. He sent 10% of his SHIB holdings to charity, temporarily panicking and depressing the market, and then burned the rest. This huge reduction in supply could make SHIB more valuable.
The fact that SHIB crypto can be used to earn rewards on ShibaSwap creates demand for the token. Some of those rewards are time-locked, incentivising SHIB holders to stake their tokens or provide liquidity with them for longer periods of time. This results in less SHIB available on the market, which could be good for its price.
The internet and hype are key factors for SHIB’s value. Early investors have seen astronomical returns as the token surged in popularity. Holders spreading the word and social media trends have the power to move the price of SHIB.
Shiba Inu has developed into a vibrant ecosystem with a large community. The utility of SHIB makes it much more than just a meme coin and the passion of the “ShibArmy” could see Shiba Inu become a long-lasting and valuable project. The big question will be how Shib will hold up against all the other dog-themed cryptocurrencies.
LEASH is another token in the Shiba Inu ecosystem with a market cap of 107,646. It was initially tied to the price of Dogecoin but the rebase has been removed so it is now a normal token, with its price decided by the market. LEASH can be used for staking and providing liquidity on ShibaSwap. With the direct connection, the Shiba Inu Price can affect the price of LEASH
BONE is the third crypto token in the Shiba ecosystem. It is only available on ShibaSwap and has a market cap of 250 million. The Shibu Inu price is tied to closely to BONE.
 BONE functions as a governance token, allowing holders to vote on proposals in the Doggy DAO. It can also be staked and used to provide liquidity on ShibaSwap.
Head over to the ShibaSwap decentralised exchange, click “Connect wallet” in the top right corner, and follow the instructions to connect a wallet such as MetaMask where you keep your SHIB tokens. Click on “Stake Tokens” under “BURY”, select “Bury Shib”, and then enter how many coins you want to stake and click “Approve”.
As an ERC-20 token (a coin that runs on the Ethereum blockchain), SHIB can be stored in any Ethereum-supporting wallet, like the ones discussed earlier. If you want to use the ShibaSwap decentralised exchange, however, you will need a Web 3.0-enabled wallet, such as MetaMask, WalletConnect, or Coinbase Wallet.
Yes. The decentralised exchange called ShibaSwap was audited by CertiK. Eight major issues were found during the audit, but they have all since been resolved.
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