Since Binance legitimized Shiba Inu on its platform, the subject of “how to acquire Shiba Inu coin” has been circulating among crypto fans. Shiba Inu is a new “Dogecoin Killer” whose popularity soared the day Binance announced its launch.
Shiba Inu was selling at $0.000014 when the news was made, and prices rocketed up to $0.000037, a 164 percent increase.
Even if this occurred in May 2021, the coin’s price fluctuates dramatically from time to time. This is why, when the chance arises again, every crypto enthusiast should know how to purchase and sell Shiba Inu coins.
What is the Meaning of the Shiba Inu (SHIB) Coin?
SHIB, or Shiba Inu, is a meme cryptocurrency named after a dog breed. As a result, it belongs to the category of canine-themed cryptocurrencies. The currency is a Dogecoin-compatible Ethereum alternative (DOGE). SHIB prides itself on being the “Dogecoin Killer,” according to the Shiba Inu website.
Shiba Inu is an ERC-20 coin with a Proof-of-Stake consensus method. ShibaSwap is a decentralized exchange in the SHIB ecosystem. It also includes an NFT art incubator for dog-inspired artists all around the globe who want to sell their SHIB.
Who are the Shiba Inu Coin’s Founders?
The Shiba Inu coin was designed by an unknown designer known only as “Ryoshi.”
The Shiba Inu WoofPaper cites three reasons for the creation of SHIB:
- “We began at the beginning, with zero.”
- “SHIB’s great brains have never worked together before.”
- “Shiba Inu dogs are our favorite.”
What Makes SHIB So Special?
The Shiba Inu coin’s website welcomes all dog-inspired artists from across the globe to participate. This was done to kick off and assist the “artistic Shiba movement,” which was attempting to break into the NFT industry.
Shiba Inu uses Amazon Smile to launch a campaign to help Shiba Inu dogs be rescued via the Shiba Inu Rescue Association.
What is the Total Number of SHIB Coins in Circulation?
More than 550 trillion SHIB coins are in circulation at the time of writing. Shiba Inu was responsible for the introduction of a quadrillion coin into circulation. For liquidity, they locked half of the token in Uniswap’s decentralized exchange. The remaining half of the coin was delivered to Vitalik Buterin, the co-founder of Ethereum. And it seems like half of it has been consumed by fire.
Where can the Shiba Inu Coin be Purchased?
The Shiba Inu coins are now accessible through Trust Wallet on certain crypto exchange platforms, including Binance, Coinbase, and Uniswap (V2).
On Trust Wallet, how can I buy Shiba Inu Coins?
There are three essential stages to purchasing a Shiba Inu coin. To begin, download and install Trust wallet on your phone. After that, you purchase or transfer ETH to Trust Wallet, and then you exchange ETH for SHIB.
Purchasing Shiba Inu coins on Trust Wallet is as follows:
- On your smartphone, download and install the Trust Wallet application.
- Click “Create A New Wallet,” agree to the terms and conditions, and click “Continue.”
- Write down the 12-word recovery phrase in the correct sequence and then touch “Next.” The wallet will be successfully generated if you enter the recovery phrase you just stored.
- On your Trust Wallet, enable DApps. The steps are Settings → preferences → DApp Browser → Enable.
- Select the choices icon in the upper right corner of the home screen to simplify the procedure. Only Ethereum and Shiba Inu currencies should be enabled, with all other cryptos disabled. For your convenience, the home screen will now only show these two options.
- Choose Ethereum and click “Buy Ethereum” to purchase ETH. Alternatively, if you have ETH in another wallet, you may send it by clicking on receive.
- Now, at the bottom, click on the DApp Browser icon. Uniswap Exchange should be found and selected.
- From the tabs at the top, choose switch.
- In the first search field, type ETH to find the currency you want to swap for SHIB.
- In the second search box, type SHIB as the token you want to trade for.
- Calculate the total. Enter the amount of ETH you’d want to pay or the number of SHIB you’d like to purchase. All you have to do now is put the amount before any of the cryptos you’ve selected. In both the crypto subscripts, you’ll see the dollar value of the amount you’ve typed.
- Click Confirm to complete the purchase.
Your acquired Shiba Inu coins will appear in your wallet after the transaction is completed properly.
What Should I Do If I Can’t Find the Shiba Inu Coin During the Swap?
Go to the website coinmarket.com and look for the Shiba Inu. You’ll find an ETH address under Contracts. Copy the contract address and paste it into the Uniswap swap page’s search field.
On Trust Wallet, how can I Sell Shiba Inu Coins?
The processes for selling a Shiba Inu coin are identical to those for purchasing one. Except that in the switching stage, you choose SHIB first, then ETH.
To sell Shiba Inu coins on Trust Wallet, follow these steps:
- Launch the Trust Wallet application.
- Go to the DApp Browser page.
- Look for and install Uniswap Browser.
- Go to the “Swap” tab and click it.
- In the first search box, type “SHIB.”
- In the second search box, type “ETH.”
- Before any of the cryptos, enter the amount.
- Press the confirm button.
In a few seconds, the transaction will be completed, and ETH will be deposited to your wallet.