How To Buy SHIBA INU (SHIB)?

A common question you often see on social media from crypto beginners is “Where can I buy SHIBA INU?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process. Thanks to its massive popularity, you can now buy SHIBA INU on most cryptocurrency exchanges, including Coinbase and Binance in 3 simple steps.

Step 1: Create an account on an exchange that supports SHIBA INU (SHIB)

First, you will need to open an account on a cryptocurrency exchange that supports SHIBA INU (SHIB).
We recommend the following based on functionality, reputation, security, support and fees:

In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.

Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.

Step 2: Deposit funds into your account

Many cryptocurrency exchanges will allow you to purchase SHIBA INU (SHIB) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.

Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.

Step 3: Buy SHIBA INU (SHIB)

This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for SHIBA INU (SHIB) or SHIBA INU (SHIB) trading pairs. Look for the section that will allow you to buy SHIBA INU (SHIB), and enter the amount of the cryptocurrency that you want to spend for SHIBA INU (SHIB) or the amount of fiat currency that you want to spend towards buying SHIBA INU (SHIB). The exchange will then calculate the equivalent amount of SHIBA INU (SHIB) based on the current market rate.

Note: Make sure to always double-check your transaction details, such as the amount of SHIBA INU (SHIB) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.

For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out. 

Shiba Inu (SHIB) is a decentralized cryptocurrency created in August 2020 by an anonymous person or group known as “Ryoshi.” Inspired by the Shiba Inu breed of dogs, SHIB has gained popularity as an alternative to Dogecoin, another popular meme-based cryptocurrency. Shiba Inu is built on the Ethereum blockchain, which means it is an ERC-20 token, making it compatible with most decentralized platforms that support Ethereum-based tokens.

Shiba Inu positions itself as an experiment in decentralized community building and governance. Its creators aim to create an ecosystem where the community holds the power to shape the future of the project. This is reflected in the Shiba Inu ecosystem, which includes three primary components: SHIB, LEASH, and BONE tokens.

• SHIB: The Shiba Inu Token (SHIB) is the primary token of the ecosystem, and it is used for various purposes such as trading, staking, and participating in the governance of the project.
• LEASH: LEASH is another token within the Shiba Inu ecosystem, with a limited supply of 107,647 tokens. Initially, LEASH was designed to be a rebase token, pegged to the price of Dogecoin. However, the developers decided to remove the rebase feature and transform it into a unique store of value with a deflationary supply model.
• BONE: BONE is the governance token of the Shiba Inu ecosystem, and it is used to participate in proposals and voting on the platform. By staking BONE tokens, holders can influence decisions regarding the development and growth of the Shiba Inu project.

The Shiba Inu ecosystem also features the ShibaSwap platform, a decentralized exchange (DEX) that allows users to trade, stake, and provide liquidity for various tokens. ShibaSwap aims to create a secure and user-friendly platform that promotes decentralized finance (DeFi) services within the Shiba Inu community.

Another essential aspect of the Shiba Inu project is its commitment to charitable initiatives. The project is known for its large donations to various causes, such as the Shiba Inu Rescue Association, which rescues and rehabilitates Shiba Inu dogs.

Does SHIBA INU have an official team?

Shiba Inu was created by an anonymous person or group known as “Ryoshi.” The project is largely decentralized, and its development and growth are driven by a community of supporters and contributors. While there isn’t an “official team” in the traditional sense, the Shiba Inu ecosystem relies on the collective efforts of its community members who work together to enhance and expand the project.

The Shiba Inu project emphasizes the importance of decentralization and community-driven governance. This approach ensures that the project’s direction is determined by its community, rather than being controlled by a centralized authority or a small group of developers. By fostering an environment where the community holds the power to shape the future of the project, Shiba Inu aims to create a truly decentralized ecosystem that can evolve and adapt to the needs and desires of its users.

What is the Vitalik Buterin wallet?

Vitalik Buterin is the co-founder of Ethereum, a decentralized platform that runs smart contracts and enables the creation of various decentralized applications (DApps). The term “Vitalik Buterin wallet” refers to a cryptocurrency wallet address associated with Vitalik Buterin, which holds various digital assets, including Ether (ETH) and numerous ERC-20 tokens.

In the context of Shiba Inu (SHIB), the term “Vitalik Buterin wallet” gained prominence when the SHIB creators sent a significant portion of the total SHIB supply (50% of the total supply, or about 500 trillion tokens) to Vitalik Buterin’s wallet address. This move was intended as a gesture of trust in the Ethereum founder, effectively “burning” those tokens and removing them from circulation. The idea was to create scarcity and demonstrate the project’s commitment to decentralization.

However, in May 2021, Vitalik Buterin decided to donate a significant portion of his SHIB holdings, about 50 trillion tokens, to the India COVID-Crypto Relief Fund, which aimed to provide financial aid during the COVID-19 pandemic. Following this donation, Buterin also burned approximately 90% of his remaining SHIB holdings (about 410 trillion tokens) by sending them to a dead wallet address, effectively taking them out of circulation permanently. In a statement, Buterin mentioned that he was impressed by the SHIB community’s generosity and wanted to support their humanitarian efforts.

The events surrounding the Vitalik Buterin wallet brought attention to the Shiba Inu project and highlighted the power of decentralized communities in contributing to important global causes.

What is ShibaSwap?

ShibaSwap is a decentralized exchange (DEX) platform built within the Shiba Inu ecosystem. It operates on the Ethereum blockchain, enabling users to trade, stake, and provide liquidity for a variety of tokens, including the native tokens of the Shiba Inu project: SHIB, LEASH, and BONE. As a decentralized exchange, ShibaSwap allows users to trade cryptocurrencies directly from their wallets, without relying on a centralized intermediary, such as traditional cryptocurrency exchanges.

ShibaSwap aims to create a secure, user-friendly, and community-driven platform that promotes decentralized finance (DeFi) services within the Shiba Inu community. The platform offers various features and benefits, including:

• Token Swapping: ShibaSwap allows users to trade or “swap” their tokens for other cryptocurrencies in the ecosystem. The platform leverages automated market maker (AMM) protocols to enable seamless and decentralized token exchanges.

• Staking: Users can “stake” their tokens on ShibaSwap to earn passive income in the form of additional tokens. Staking involves locking up tokens in a smart contract for a specified period, helping to provide liquidity and stability to the platform.

• Liquidity Provision: ShibaSwap users can become liquidity providers by depositing their tokens into liquidity pools. In return, they receive a share of the transaction fees generated from trades within the pool, proportional to their contribution.

• Farming: ShibaSwap offers yield farming opportunities, where users can earn additional rewards, such as BONE tokens, by providing liquidity and participating in specific DeFi activities on the platform.

• Governance: BONE, the governance token of the Shiba Inu ecosystem, enables users to participate in the decision-making process by voting on proposals and shaping the platform’s future development.

What are the tokens available in SHIB’s ecosystem?

The Shiba Inu ecosystem includes three primary tokens, each serving different purposes and functions within the platform. These tokens are:

• SHIB (Shiba Inu Token): SHIB is the primary and most well-known token of the ecosystem. As an ERC-20 token built on the Ethereum blockchain, it serves various purposes such as trading, staking, and participating in the platform’s governance. The token has gained popularity as an alternative to Dogecoin, another meme-based cryptocurrency.

• LEASH (Leash Token): LEASH is the second token within the Shiba Inu ecosystem. It has a limited supply of 107,647 tokens, making it scarcer than SHIB. Initially designed to be a rebase token pegged to the price of Dogecoin, the developers eventually decided to remove the rebase feature and turn it into a unique store of value with a deflationary supply model. LEASH can be used for trading, staking, and providing liquidity on the ShibaSwap platform.

• BONE (Bone Token): BONE is the governance token of the Shiba Inu ecosystem. It plays a crucial role in the platform’s decision-making process, as holders of BONE tokens can participate in proposals and voting on various aspects of the project’s development. BONE tokens can also be earned through yield farming and staking activities on the ShibaSwap platform.

These three tokens (SHIB, LEASH, and BONE) form the core of the Shiba Inu ecosystem and play different roles in trading, staking, liquidity provision, and governance on the ShibaSwap platform. By offering a diverse range of tokens, the Shiba Inu project aims to create a comprehensive and versatile ecosystem for its community members to engage with decentralized finance services and actively participate in the platform’s growth.

How to stake Shib, Leash or Bone using ShibaSwap?

• Open the following ShibaSwap link https://www.shibaswap.com .
• Connect your wallet (Coinbase or Metamask as of now).
• Click BURY and then Stake Tokens.
• You will be able to see a page where you can Bury Shib and the other two tokens.
• Click Bury Shib and/or Leash > Bone.
• Select the Token to stake and click approve.
• You will now see a page where on your wallet you will be able to see the current fees and where you’re able to change the speed of the transaction: Speed advised = Fast.
• Once you approve the contract you can click Stake and repeat the same procedure for the fees.
• Once this process is completed you will be staking your Shib, Leash or Bone and can visualize the respective contract added as xShib, xLeash or tBone on your wallet depending on what you are staking.

⁃ xShib: 0xb4a81261b16b92af0b9f7c4a83f1e885132d81e4

⁃ xLeash: 0xa57d319b3cf3ad0e4d19770f71e63cf847263a0b

⁃ tBone: 0xf7a0383750fef5abace57cc4c9ff98e3790202b3

How to DIG?

• Open the following ShibaSwap link https://www.shibaswap.com
• Connect your wallet (Coinbase or Metamask as of now).
• Click provide liquidity on DIG..

– Select “create a pair”, then select the pairs you want to combine.
– Click “supply,” confirm the transaction on your wallet.
– Go to WOOF to check your deposits and your added pairs balance.
– Click deposit your pairs to add liquidity.

How do I WOOF my rewards?

• Open the following ShibaSwap link https://www.shibaswap.com
• Connect your wallet (Coinbase or Metamask as of now)
• Click on “farm tokens” on WOOF.

– Click to open on your added pairs, then click WOOF respective reward.
– Approve transactions on your wallet.
– On the right side panel you can verify your deposits, and your 67% woofed rewards.
– Check your wallet for the 33% remaining rewards.

What is the Doggy DAO?

The term “Doggy DAO” refers to the decentralized governance system within the Shiba Inu ecosystem. DAO stands for “Decentralized Autonomous Organization,” which is an organization governed by its community members through a decentralized decision-making process based on blockchain technology.

In the Shiba Inu ecosystem, the Doggy DAO allows token holders to participate in the project’s decision-making process, making proposals and voting on various aspects of the project’s development. The primary governance token in the Shiba Inu ecosystem is BONE. By holding and staking BONE tokens, users can influence the platform’s direction and growth.

The Doggy DAO represents Shiba Inu’s commitment to decentralization and community-driven governance. By empowering its users to actively participate in shaping the project’s future, the Shiba Inu project seeks to create a truly decentralized ecosystem that evolves and adapts to the needs and desires of its community members.

Why does BONE have voting power or doggy DAO powers?

BONE, the governance token of the Shiba Inu ecosystem, has voter power or Doggy DAO powers because it is designed to enable and encourage community participation in the decision-making process of the project. By assigning voting power to BONE token holders, the Shiba Inu project ensures that the platform remains decentralized and that its development and growth are driven by the collective efforts and consensus of its users.

The Doggy DAO, or Decentralized Autonomous Organization, is a crucial component of the Shiba Inu project’s emphasis on decentralized governance. By giving BONE token holders the ability to vote on proposals and influence the platform’s direction, the project empowers its community members to take an active role in shaping the future of the Shiba Inu ecosystem.

This approach to governance aligns with the broader vision of the Shiba Inu project, which seeks to create an ecosystem that thrives on community involvement and collaboration. By distributing voter power through BONE tokens, the project fosters a sense of ownership and responsibility among its users, ensuring that the platform remains dynamic, innovative, and responsive to the needs and desires of the Shiba Inu community.

Official website: https://shibatoken.com/

Best cryptocurrency wallet for Shiba Inu (SHIB)

There are plenty of different crypto wallets available. The best one for you depends on your general trading habits and which provides the most security in your situation. There are two main types of wallets: hot storage wallets (digital) and cold storage or hardware wallets (physical). Both have their pros and cons, and there is not necessarily a right or wrong answer when it comes to figuring out which crypto wallet is best for you.

HOW DO I DECIDE WHICH cryptocurrency WALLET TO USE for Shiba Inu (SHIB)?

Deciding which type of wallet to use depends on a variety of factors, including:

• How often you trade. In general, hot wallets are better for more active cryptocurrency traders. Quick login ability means you are only a few clicks and taps away from buying and selling crypto. Cold wallets are better suited for those looking to make less frequent trades. 
• What you want to trade. As mentioned earlier, not all wallets support all types of cryptocurrencies. However, some of the best crypto wallets have the power to trade hundreds of different currencies, providing more of a one-size-fits-all experience.
• Your peace of mind. For those worried about hacking, having a physical cold wallet stored in a safe deposit box at the bank or somewhere at home, provides the safest, most secure option. Others might be confident in their ability to keep their hot wallets secure.
• How much it costs. It is important to investigate the costs associated with each wallet. Many hot wallets will be free to set up. Meanwhile, cold wallets, like any piece of hardware, will cost money to purchase.
• What it can do. While the basics of each cryptocurrency wallet are the same, additional features can help set them apart. This is especially true of hot wallets, many of which come with advanced reporting features, insights into the crypto market, the ability to convert cryptocurrencies and more. Security features can also be a good differentiator.

For a more in-depth overview of cryptocurrency wallets visit our “Cryptocurrency Wallets Explained” guide.

If you’re going to be dealing in larger volumes of crypto, investing in cold storage might prove advantageous.
Most widespead examples of this being the Ledger Nano and the Trezor.

Ledger manufactures cold storage wallets designed for users who want increased security. Their wallets are a physical device that connects to your computer. Only when the device is connected can you send your cryptocurrency from it. Ledger offers a variety of products, such as the Ledger Nano S and the Ledger Nano X (a bluetooth connected hardware wallet).

Trezor is a pioneering hardware wallet company. The combination of world-class security with an intuitive interface and compatibility with other desktop wallets, makes it ideal for beginners and experts alike. The company has gained a lot of the Bitcoin community’s respect over the years. Trezor offers two main models – The Trezor One and Trezor Model T (which has a built in touch screen).