Shiba Inu (SHIB) is a token whose value and popularity have skyrocketed ever since its KuCoin and Binance exchange listings. Shiba Inu is a meme coin that came to life as a tribute to Dogecoin. Shiba Inu internet memes and DOGE’s success brought this token to life. The project’s name originates from the white Shiba Inu hunting dog breed.
Due to its growing popularity, SHIB has also been labeled as the ‘DOGE killer,’ given that it is Dogecoin’s greatest competitor.
However, the Shiba Inu project does not comprise only the SHIB token. In fact, SHIB is only one of the tokens on the Shiba Inu ecosystem. Other tokens included are LEASH and BONE tokens.
This guide will take you through the steps you need to follow when buying Shiba on the KuCoin exchange.
Where to Buy Shiba Inu Tokens
The easiest and safest way for you to buy SHIB is through a cryptocurrency exchange. There are several exchanges globally, so do your research on the one accepted in your jurisdiction. One of the most popular exchanges that supports SHIB is KuCoin.
You can also trade other tokens for SHIB at ShibaSwap, which is the project’s native decentralized exchange.
A Step-By-Step Guide to Buy SHIB
You can buy SHIB by following four simple steps:
Step 1: Register an Exchange Account
The first step is for you to register an account on KuCoin. There are many exchanges globally, but you need to select the one that supports SHIB tokens.
Registering an exchange account is a very straightforward process, and it will only take a couple of minutes.
Step 2: Deposit Funds to your Account
The second step involves depositing funds to the exchange account. There are two ways that you can fund your account:
- You can use other cryptocurrencies that you are currently holding to exchange them for SHIB. KuCoin currently supports the SHIB/USDT trading pair.
- You can make deposits in fiat currency using a credit card or a debit card. You can also link your bank account and select the number of funds you would like to deposit.
Step 3: Buy SHIB
The third step is actually buying SHIB tokens. To do this, you simply have to go to KuCoin’s trading section where you can place an order. Enter the amount of USDT that you want to exchange for SHIB. Confirm your transaction details, and in just a few minutes, you will receive the tokens in your KuCoin account.
Step 4: Store in a Crypto Wallet
After buying Shiba Inu on KuCoin, you need a place where you can store them safely.
If you are a trader, the best option for you is to store your tokens somewhere where you can access and utilize them easily. However, if you want to hold the tokens rather than trading or utilizing them in some other way, you may consider hardware or offline wallets, which offer less functionality in return for more safety.
Should I buy Shiba Inu (SHIB) tokens?
With cryptocurrencies, you never really know what makes a good investment and what does not - the sheer number of factors included in the analysis (fundamentals, technicals, sentiment analysis, etc.) is overwhelming, and investors must often trust their gut when making crypto purchases.
However, past price performance may be able to provide the insight necessary for investing. SHIB has done extremely well in 2021, as the token managed to record an almost 18,000% gain.
Conclusion
Shiba Inu is a meme-inspired project whose value has tremendously grown in recent weeks and months. The token has been competing with Dogecoin for the place of top memetoken in the crypto market. With the community of investors built around the project, this project that started off as a joke might see some major gains in the future.
