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 1. Software
 2. Cryptocurrency


HOW TO BUY SHIBA INU — THE EASIEST WAY TO BUY THE “DOGECOIN KILLER”

How-to
By Kimberly Gedeon
published June 30, 2022


How to buy Shiba Inu

 * 
 * 
 * 
 * 
 * 



How to buy Shiba Inu coin (Image credit: Shibatoken.com)


This is not financial advice. This is for educational purposes only. Please note
that cryptocurrency is a highly volatile asset class; only invest what you can
afford to lose.



“How to buy Shiba Inu'' is a trending question as crypto investors scramble to
buy the new “Dogecoin killer.” Shiba’s social media hype skyrocketed after
Binance, the world’s largest cryptocurrency exchange, legitimized Shiba Inu on
May 10 by adding it to its list of supported coins.



The day before Binance listed $SHIB, it was trading at around $0.000014. In May
2021, SHIB skyrocketed to an all-time high of $0.000037. That’s a 164% increase!



 * How to buy Shiba Inu on Coinbase Pro and How to buy StopElon coin
 * How to mine Shiba Inu on your laptop
 * The best laptops for mining 2021

As of Oct. 5, the "Dogecoin killer" is skyrocketing once again and many
daredevil crypto investors are scrambling to get their hands on Shiba Inu. If
you're interested in buying the Dogecoin rival, stick around and we'll show you
the easiest, most efficient way to buy Shiba Inu.

RECOMMENDED VIDEOS FOR YOU...Laptop Mag




WHAT IS SHIBA INU? 

Shiba Inu coin is an ERC-20 token, a fancy way of saying that it runs on the
Ethereum blockchain and utilizes the network's smart-contract technology.





How to buy Shiba Inu coin (Image credit: Shibatoken.com)

After perusing through Shiba Inu coin's 22-page white paper (the pun-loving
author calls it a "woofpaper"), the meme token's main mission is to preserve one
of the main tenets of cryptocurrency: decentralization. Decentralization
prevents authoritative institutions (e.g. banks and governmental bodies) from
monopolizing control.

"We believe through the power of collective decentralization, we can build
something stronger than a centralized team could create," SHIB's founder Ryoshi
(psuedonym) said. "A community-run token is nothing without the united
individuals who give it purpose."

The woofpaper also delves into why SHIB runs on Ethereum, explaining that it is
a secure, well-established blockchain that lets SHIB remain independent of
moderating forces.

Interestingly, the woofpaper revealed that 50% of SHIB’s token supply was sent
to Vitalik Buterin's wallet (Buterin is Ethereum’s founder). You're probably
wondering, "Why the hell would they do that?" The motive behind gifting Buterin
Shiba tokens was not mentioned in the woofpaper, but according to Celebrity Net
Worth, it was likely a publicity stunt. Benzinga, however, believes Shiba’s team
gifted Buterin the coins to make SHIB more scarce. Both theories could be true. 

The problem with Buterin’s large SHIB ownership is that if he decides to sell
his tokens, SHIB’s price will experience a severe plummet — and that's exactly
what happened. On May 12, Buterin announced that he sold $1 billion worth of
SHIB tokens for charity. Although Buterin's shocking act was for a good cause,
it unnerved SHIB token holders.

On May 16, to SHIB holders' delight, Buterin announced that he burned 90% of his
Shiba Inu coins, and planned to donate the remaining 10% to charity. Burning
tokens increases scarcity, and as a result, the price is likely to go up. After
a tumultuous week, there's finally hope for Shiba Inu coin — the cryptocurrency
dubbed "the Dogecoin killer."


WHERE TO BUY SHIBA INU

There are several platforms where you can buy Shiba Inu, including Binance US,
Robinhood, Gemini and Coinbase.

We suggest purchasing Shiba Inu on KuCoin.


HOW TO BUY SHIBA INU

The easiest way to buy Shiba Inu coin is via the KuCoin exchange. Before you can
get your hands on Shiba Inu, you'll need to purchase something called USDT
(Tether). I know this may sound complicated, but I can assure you that the
process is super easy. Once you've made a KuCoin account, here's how to buy
Shiba Inu.

1. Sign into your KuCoin account.

2. Click on "Buy Crypto" on the top-left corner and click on "Credit/Debit
Card."



How to buy Shiba Inu (Image credit: Future)

3. Under "I Want to Spend," input the amount of USDT you'd like to purchase.

4. Under "I Want to Buy," click on the drop-down menu and select USDT.



How to buy Shiba Inu (Image credit: Future)

5. Next, select your payment method (e.g. Visa/MasterCard) and payment channel.

6. Tick the "Disclaimer" button and click "Confirm." Follow the prompts to
finish the payment process.

Swapping USDT for Shiba Inu

1. After a minute or two, you should find your USDT in your Main Account, which
you can locate by going to Assets > Main Account.

2. Click on the "Transfer" button next to USDT to switch your USDT over to your
Trading Account.



How to buy Shiba Inu (Image credit: Future)

4. Next, go to your Trading Account and confirm that your USDT is there.

5. Click on "Markets" to get started on swapping USDT for Shiba Inu.

6. On the far right, type in "SHIB" into the search bar.

7. Click on the SHIB-USDT trading pair.



How to buy Shiba Inu (Image credit: Future)

8. At this point, you may be prompted to input your trading password.

9. Once you've confirmed your trading password, click on Market on the
lower-right quadrant.



How to buy Shiba Inu (Image credit: Future)

10. In the "Buy SHIB" section, click on the 100% button, which will ensure that
all of your USDT is swapped for SHIB. If you prefer to put in a custom amount,
you can do so in the Amount field.

11. Click on "Buy SHIB." 

Follow the prompts to complete the purchase, and voila, you now own Shiba Inu
coin!


HOW TO BUY SHIBA INU IN NEW YORK AND OTHER CRYPTO-UNFRIENDLY STATES

Unfortunately, if you live in New York or other crypto unfriendly territories,
it's difficult to secure some cryptocurrencies. Although Shiba Inu was
previously inaccessible to New Yorkers on Coinbase, residents can now purchase
the dog-inspired token on the platform.

Gemini is also allowing New Yorkers to purchase Shiba Inu on its platform, too.

As always, make sure to exercise caution when buying crypto. It's a risky asset
class.

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Policy and are aged 16 or over.
Kimberly Gedeon
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Kimberly Gedeon, holding a Master's degree in International Journalism, launched
her career as a journalist for MadameNoire's business beat in 2013. She loved
translating stuffy stories about the economy, personal finance and investing
into digestible, easy-to-understand, entertaining stories for young women of
color. During her time on the business beat, she discovered her passion for tech
as she dove into articles about tech entrepreneurship, the Consumer Electronics
Show (CES) and the latest tablets. After eight years of freelancing, dabbling in
a myriad of beats, she's finally found a home at Laptop Mag that accepts her as
the crypto-addicted, virtual reality-loving, investing-focused, tech-fascinated
nerd she is. Woot!




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