Shiba Inu (SHIB) has caused quite a stir in the cryptocurrency market, though its current rate is not very high. Initially created as an experiment, the coin almost immediately became known as a main rival of Dogecoin or ‘Doge-Killer.’
Let’s learn more about Shiba Inu and find out how to buy Shiba Inu (SHIB) cryptocurrency in the fastest and most effective manner!
What Is Shiba Inu (SHIB) Cryptocurrency?
Shiba Inu (SHIB) is a decentralized cryptocurrency created in August 2020 by an anonymous individual or group of individuals under the pseudonym ‘Ryoshi.’ The cryptocurrency is named after the Shiba Inu dog breed, which is also the inspiration for the more well-known Dogecoin (DOGE) cryptocurrency.
SHIB operates on the Ethereum blockchain and is classified as an ERC-20 token. Its main goal is to provide a decentralized alternative to centralized platforms, exchanges, and payment systems. The SHIB token has a maximum supply of 1 quadrillion, making it one of the highest circulating supply cryptocurrencies.
SHIB is known for its meme-like nature and has gained significant popularity via social media platforms such as Twitter and Reddit. The cryptocurrency has also gained attention for its community-driven initiatives, such as the ShibaSwap decentralized exchange and the ShibArmy, a group of supporters actively promoting and using the cryptocurrency.
What Is Shiba Inu (SHIB) Used For?
Shiba Inu (SHIB) is primarily used as a decentralized means of exchange and store of value, similar to other cryptocurrencies like Bitcoin and Ethereum. Holders of SHIB can use it to make transactions or as a means of payment, although its adoption as a mainstream currency is still limited.
Additionally, the SHIB token has been used to support community-driven initiatives such as developing the ShibaSwap decentralized exchange. SHIB holders can also participate in various governance activities related to the development and management of the project.
How to Buy Shiba Inu (SHIB) Cryptocurrency?
If you’re wondering where to buy SHIB, you should definitely think about buying it at Switchere. On our platform, you have an opportunity to buy SHIB in the fastest and most convenient way. Moreover, we offer some surprising bonuses! Users of our platform enjoy a 0% service fee for the first order.
How to buy SHIB with USD? At Switchere, you can buy crypto for fiat money or swap crypto for crypto. In addition to traditional purchases with a bank card, you can use alternative payment methods available (SEPA, SOFORT, Google Pay & Apple Pay, and local Asian banks)
Here is an easy step-by-step guide on buying SHIB at Switchere!
- Visit our website and log in to your account.
- Choose the currency pair for exchange as well as a payment method and enter the amount. Don’t forget to check the transaction details by clicking on ‘Details.’ Once you’ve done, click the ‘Buy’ button.
- Specify your Shiba Inu wallet address and click on the ‘Buy’ button.
- Enter your card details and click on the ‘Pay Now’ button. Please take into account that you have a limited amount of time to send your funds. Elsewise, the transaction will be canceled automatically.
- Once you send the funds and your transaction receives the required number of blockchain confirmations, the amount of purchased SHIB will be sent to your provided wallet address accordingly.
- Congratulations! The transaction is completed, and now you can check your Shiba Inu wallet.
Usually, Switchere transactions take 5-30 minutes. If you have any issues with the exchange process, let us know at [email protected].
Why Is Shiba Inu Coin So Popular?
As mentioned before, the coin’s association with the popular Dogecoin (DOGE) cryptocurrency has played an important role here and helped to draw attention to the project. In addition, SHIB’s meme-like nature and playful marketing campaigns have boosted its popularity on social media platforms.
Still, the SHIB coin has gained significant popularity for several other reasons:
- Elon Musk, the Tesla founder, once tweeted about his interest in owning a Shiba pup, which in turn hyped the crypto market and led SHIB’s price to rise by 300%.
- Vitalik Buterin, the founder of the Ethereum Blockchain Network, donated 50 trillion Shiba Inu coins to the India Covid Relief Fund, founded by an Indian crypto entrepreneur named Sandeep Nailwal.
Today, we have found out how to buy one of the most popular meme coins in the cryptocurrency market — Shiba Inu (SHIB). It’s important to note that SHIB, like many other cryptocurrencies, is a highly speculative asset whose value can be subject to significant volatility due to its relatively low liquidity and high circulating supply. As with any cryptocurrency investment, make sure to do your own research before investing.