One of the trending questions asked by crypto investors is how to buy Shiba Inu coins. This meme coin created to rival another meme coin, Dogecoin, has skyrocketed in recent times.
According to data from Etherscan, there are over 900,000 holders of this ”Dogecoin killer”. Shiba Inu has become one of the most popular cryptos after it was legitimized on May 10 by Binance.
If you’re interested in buying this Dogecoin rival, then you’ve to stick around as we show you how. Before then, let’s know more about the Shiba Inu coin.
What is Shiba Inu Coin?
Shiba Inu coin (SHIB) is an ERC-20 token powered by the Ethereum blockchain and utilizes the network’s technology. The meme token is a decentralized cryptocurrency created in August 2020 by an anonymous person or persons by the name ‘Ryoshi’.
Shiba Inu is said to run on Ethereum because it is a secure and well-established blockchain. It helps SHIB to remain independent of moderating forces.
The token’s white paper revealed that 50% of the token supply was sent to ETH founder’s wallet, Vitalik Buterin. The founder burnt 90% of the token and donated 10% to charity.
Burning tokens increases scarcity, and as a result, the price is likely to go up. After a period of its trial, there’s finally hope for the Shiba Inu coin.
Shiba Inu Coin
Where To Buy Shiba Inu Coin
Crypto traders and investors can buy this dubbed ”Dogecoin killer” on several exchange platforms. This includes Binance, Crypto.com, and so on.
The day before the token was listed on the world’s largest crypto exchange, Binance, it traded at $0.000014. On May 10, after it was added to the exchange, it skyrocketed to an all-time high of $0.000037.
We’ll therefore be looking at how to buy Shiba Inu tokens on Binance for this article.
How To Buy Shiba Inu Coin on Binance
You can buy, sell, trade and hold SHIB easily on the Binance exchange platform. Here are ways of buying SHIB on Binance;
Binance
- Sign up for Binance: When you sign up for a Binance account, it allows you to buy, sell and hold crypto.
- Buy Shiba coin with bank transfer: Buy stablecoins listed on Binance by sending money from your account to the providers of this coin. This stablecoin can be used to buy Shiba Inu coin on Binance exchange.
- Trade Shiba coin: Binance supports the deposit of more than 300 cryptos. These can be exchanged for Shiba coins at some of the best rates in the crypto market.
- Buy Shiba coin with a credit card: You can directly buy Shiba coin with a credit/debit card on Binance.
What To Do After Buying Shiba Coin
Crypto traders and investors make use of three popular options after buying SHIB. They are listed below;
- SHIB can be used to pay for goods and services as it is allowed by some merchants.
- Trade it for stablecoins (BUSD, USDT, etc).
- Hold on to it.
You should also check out the following:
Is Shiba Inu Coin A Dogecoin Killer?
What You Need To Know About Shiba Inu Coin
Top 5 Reasons Why You Should Buy Dogecoin Over Shiba Inu in 2022
