Why invest in Shiba? What are Shiba Inc Coin investment pros and challenges? Here is everything you need to know about SHIB investing.
With the bullish pricing action of Dogecoin in 2021, there has been a rising interest in other meme coins such as Shiba Inu. Dubbed the ‘Dogecoin Killer‘ by its creators, Shiba Inu is one of many Doge-themed tokens in the crypto market.
Based on its relationship with Dogecoin and the growing community behind it, Shiba Inu has been able to gain substantial market capitalization.
The creators of Shiba Inu expect the coin to perform better than other similar projects. As such, the protocol continues to work on strategies that can contribute towards the token’s price increase in the future.
Therefore, if you find this project intriguing, this guide will show you how to invest in Shibu Inu in five simple steps. You’ll also learn about the best strategies to make a profit from Shiba Inu and the right broker to use when investing in this popular token.
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How To Invest In Shiba Inu (SHIB) In 5 Easy Steps
When learning how to invest in Shiba Inu, you will need to understand the steps involved in getting started with a broker.
To simplify the process, we have come up with this quickfire walkthrough to teach you how to invest in Shiba Inu as a beginner.
- Step 1: You should start by choosing a reliable exchange to buy Shiba Inu.
- Step 2: Sign up on the exchange’s website and open your investment account.
- Step 3: Look through the list of assets supported and choose Shiba Inu from the options.
- Step 4: Place a Shiba Inu order by simply inputting the amount you want to invest in the SHIB coin.
- Step 5: Confirm your order to complete your Shiba Inu investment.
Once you’re done with these five simple steps, you’d have successfully invested in Shiba Inu. Additionally, you’ll need to understand how to keep your tokens secure so they don’t get compromised. But this will be discussed later in this How to Invest in Shiba Inu Guide.
With that said, let’s proceed with helping you grasp the fundamentals of how to invest in Shiba Inu to make a profit.
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How Does Investing In Shiba Inu (SHIB) Process Work?
When you’re investing in Shiba Inu, your aim is to buy the token at a low market price and sell the coin after the value increases. This is how to make a profit on your Shiba Inu investment. But the market won’t always move in your favor, meaning when it doesn’t, you’ll have to bear the loss.
This makes it important to understand the factors that could affect Shiba Inu’s price movement. The market value of Shiba Inu is subject to numerous factors such as the technology behind the asset, cryptocurrency regulations, the number of those who’ve adopted the token, competition, and more.
Consequently, the token’s demand and supply will continue to fluctuate as investors buy more Shiba Inu coins or similarly – sell off their digital assets.
For instance, when investors are of the opinion that the coin will soon drop in market price, they’ll be looking to sell off their tokens, which will invariably affect the asset’s value. Therefore, when making Shiba Inu speculations, you should always do thorough research to ensure you make informed decisions.
Here is an example of a Shiba Inu investment set in real market conditions:
- On 23 April 2021, Shiba Inu’s price was $0.0000012.
- You did your market research and concluded that the token’s value will soon increase.
- Consequently, you decided to invest $200 in Shiba Inu.
- By 06 September 2021, Shiba Inu’s price had risen to $0.0000074.
- Here, you have an increase of over 510%.
- To secure your profit on this Shiba Inu investment, you decide to cash out. This will leave you with a return of $1,020 on your $200 investment.
The example above represents an investment held for just over four months and you were able to make a considerable profit.
Now, imagine you had given into short-term price fluctuations and sold your tokens along the line. In that case, you would likely have incurred a loss – especially if you disposed of the asset when the price was lower than your entry point.
This is why you should never invest in a token blindly. When you’re contemplating investing in Shiba Inu, research the coin to determine if it’s fit for your portfolio. This can be done by evaluating the token’s trajectory and historical data.
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Why Invest In Shiba Inu (SHIB)?
When contemplating how to invest in Shiba Inu, some of the factors to consider include your investment goals, financial standing, and risk appetite. But more importantly, you should have a tangible reason for investing in Shiba Inu.
In this regard, thorough market research is necessary to gain insight into the future projections of the coin. To guide you through this phase, we have considered some important factors that will help your research.
Shiba Inu Has Projects That Could Impact The Token’s Value
When you’re investing in Shiba Inu, your goal is to make a profit. A common factor many people consider when investing in a token is whether the protocol has projects that could add to the coin’s long-term value.
This is where Shiba Inu distinguishes itself among other meme coins. The team behind the token has announced the project’s decentralized exchange (DEX) called ShibaSwap.
If the DEX meets its expectations, it could draw more attention to Shiba Inu, improving the token’s value over time. Although launching a DEX is not novel in the cryptocurrency space, it’s an avenue to improve Shiba Inu’s credibility, making investors see it as more than just a meme token.
Therefore, if you believe Shiba Inu is currently undervalued and might witness a price increase soon, you might want to invest in the token so that you can make a profit when the market eventually reacts to this.
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Shiba Inu Allows You to Earn Passively
With ShibaSwap, investors can make passive returns by providing liquidity to the DEX. This is made possible through a feature called ‘Dig.’ Therefore, when you provide liquidity to the DEX, you get BONES in return.
- Furthermore, there are numerous liquidity pools available for you to stake your token on the DEX.
- When you stake any of SHIB, LEASH, and BONE in these pools, you stand to gain impressive returns, although 66% of it will remain locked for six months to prevent users from selling off a large portion of their assets.
- Therefore, since ShibaSwap brings about new ways to utilize the token, this could cause a positive market movement.
Additionally, although Dogecoin still has a larger market capitalization, Shiba Inu is gradually establishing dominance by extending its functionality.
For instance, while Dogecoin is not compatible with smart contracts, this is not the case with Shiba Inu. This is because the latter leverages smart contracts on the Ethereum network, which adds to the coin’s appeal in the market.
Shiba Inu Has Technical and Corporate Backup
The anonymous founder of Shiba Inu launched the token on the Ethereum blockchain. This brought the token within the category of growing ERC-20 tokens, adding another layer of credibility to the coin.
More importantly, ever since its launch, the team behind the token has worked on different projects such as the aforementioned DEX. The team continues to expand the token’s use cases so that it can be viewed in the market as more than just a meme coin.
- Additionally, Shiba Inu also enjoys impressive corporate support.
- Many big names in the cryptocurrency market have lent their support to the token, increasing its popularity far more than was expected.
- Before being listed by notable exchanges such as eToro, Binance, and Coinbase, the most significant publicity Shiba Inu got was from Vitalik Buterin’s donation of 20% of his holdings to charity.
Consequently, technical and corporate support of this nature impacts the market value and appeal of the token. This might be a meaningful factor to consider when you want to invest in Shiba Inu.
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How To Invest In Shiba Inu (SHIB) – Various Options Available
When learning how to invest in Shiba Inu, you need to understand that you can buy the token through different platforms. But all these platforms essentially fall under two categories: brokers or exchanges.
You have to exercise some care when deciding on which option to use, as your choice will impact your investment experience.
Therefore, when you want to decide on whether to choose a broker or exchange, you’ll need to consider certain factors. These include regulation, cost-effectiveness, user interface, and more.
Before delving into the best place to invest in Shiba Inu crypto, let’s discuss both Shiba Inu brokers and exchanges in detail.
Shiba Inu Exchanges
Cryptocurrency exchanges are platforms to buy, sell, and trade digital assets such as Shiba Inu. To invest in Shiba Inu on these platforms, you’ll likely have to swap another asset for the token.
However, a primary problem with several exchanges is that while they may offer attractive features, many of these platforms are not user-friendly. This makes it challenging for a beginner to invest in Shiba Inu.
Furthermore, when using these exchanges to invest in Shiba Inu, you’ll have to buy the asset from another trader. Above all, most of these exchanges are not regulated, meaning they can’t offer you peace of mind on your funds.
Therefore, since these exchanges are not authorized by leading financial bodies, if any compromise should happen with the platform you choose, your funds are at risk.
As such, while experienced investors might find a way to maximize these exchanges, the same cannot be said for beginners.
Shiba Inu Brokers
Unlike cryptocurrency exchanges, the key benefit of using regulated brokers is the security they provide. When you invest in Shiba Inu using a broker like eToro, you gain access to a simple user interface that makes the process seamless for you, especially as a beginner.
- Furthermore, the broker is regulated by leading bodies including the FCA and SEC.
- These bodies regularly audit the broker to ensure the platform is acting within its established scope of operations.
- Moreover, regulated brokers are expected to operate with a fair system and complete transparency, meaning there are no hidden fees when you invest in Shiba Inu.
On brokers such as eToro, you can also invest in Shiba Inu by buying the token directly with fiat money through US dollars, euros, and more. In addition to the multiple payment methods supported, you can also invest in Shiba Inu 100% commission-free.
More precisely, if you’re looking to invest in Shiba Inu through a regulated broker, here are some of the advantages you get:
- You’re in the regulator’s safety net when you invest in Shiba Inu using a broker.
- The broker is audited regularly to ensure its operations are fair and transparent.
- Regulated brokers like eToro are cost-effective and will allow you to invest in Shiba Inu without paying commissions.
- When you invest in Shiba Inu using eToro, you can store your tokens in the in-built wallet on the platform.
From the above, it’s clear that regulated brokers offer you more advantages than cryptocurrency exchanges. An important advantage is that you get security on your funds.
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How To Choose A Platform To Invest In Shiba Inu (SHIB)
So far in our discourse on how to invest in Shiba Inu, you must now understand the importance of regulated brokers. Your next task is knowing which broker to choose. However, there are several brokers in the market, making it challenging to select the right one.
Therefore, here, we analyze the key factors to look out for when choosing a broker to invest in Shiba Inu.
Regulatory Compliance
As earlier stated in our How to Invest in Shiba Inu Guide, a regulated broker offers you numerous advantages. The most important perk is the protection you get on your Shiba Inu investments.
Regulators will provide each broker with certain guidelines they are expected to follow. This is how financial bodies ensure that the interests of investors are not compromised, and their money is kept safe.
Some of the significant things to note about regulated Shiba Inu brokers include:
- Segregated Accounts: When you choose a regulated broker, your money is stored in an account that’s separate from where the platform stores its funds. This means that you always have access to your funds whenever you intend to process a withdrawal.
- KYC Process: A regulated broker like eToro will mandate you to verify your identity before you use the platform to invest in Shiba Inu. That way, anonymous trades cannot be carried out, reducing the chances of nefarious activities taking place on the platform.
From the above, you can understand why the regulation and reputation of a broker matters when deciding on the platform to invest in Shiba Inu.
Fee Policy
When researching how to invest in Shiba Inu on a broker, it’s essential to consider the fee structure of the platform you’re choosing. Brokers charge different fees for various transactions performed on their platforms.
The reason for evaluating the fee structure is to ensure you choose a broker that allows you to invest in Shiba Inu in a cost-effective manner.
Here are some of the fees a broker might charge.
- Account Creation: For most brokers, you’ll likely be able to open an investment account for free. However, you should still check to be sure.
- Deposits and withdrawals: After opening your account, you have to add funds to it before you can invest in Shiba Inu. Some brokers might charge you a fee for making a deposit and processing withdrawals. In most cases, the fee will be calculated based on the transaction amount and payment method.
- Commission: Your broker essentially opens your Shiba Inu trade on your behalf. For doing this, most brokers will require you to pay a commission both when investing in Shiba Inu and when you intend to cash out. However, with a broker like eToro, you don’t pay a dime in commission for investing in Shiba Inu.
- Token Transfer: Sometimes, you might have to move your coins from an external wallet after completing the investment with a broker. In such cases, you may have to pay a fee. But you can avoid fees like this when you use eToro for investing in Shiba Inu, as the platform offers you an in-built wallet to store your tokens.
To further help you understand, let’s contextualize all we’ve discussed.
- Let’s assume you decide to invest in Shiba Inu, so you make a deposit of $1,000 into your account.
- Your broker charges 5% on debit card transactions, so the deposit you just made cost you $50.
- For buying the token, your broker charges a 2.5% commission, so you pay $25 to purchase Shiba Inu.
- When your investment reaches $5,000, you decide to cash out. In that case, you have to pay the 2.5% commission again, which amounts to $125.
The total fee you’ve paid on this investment is $200. The above example helps you to understand our earlier discussion on the different fees you might have to pay when investing in Shiba Inu.
However, not all brokers will charge you these fees. When you use a broker like eToro, you incur no fee for adding funds to your account in US dollars. Additionally, all your Shiba Inu trades can be executed without paying commissions.
Essentially, when it comes to investing in Shiba Inu, eToro allows you to save significant money.
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User Friendliness
A simple user interface makes it convenient to invest in Shiba Inu, especially if you’re a beginner. You don’t want a broker where you find it challenging to navigate the platform or where mistakes can be easily made.
Imagine a broker that doesn’t offer you prompts to move across different steps. This will only make your investment experience frustrating.
Minimum Shiba Inu Investment and Payment Methods
You should also consider whether your broker has a minimum investment policy. For a broker with such a policy, you cannot invest in Shiba Inu below the set minimum amount.
While some brokers set the minimum requirement at a high level, others make it low. For instance, eToro allows you to start investing in Shiba Inu for as little as $25.
After that, you should also check the supported payment methods on the broker you’ve chosen. You should select a broker that allows you to invest in Shiba Inu through debit/credit cards, as these are the fastest options to add funds to your account.
Also, consider whether the broker supports e-wallets and even wire transfers. But if you intend to invest in Shiba Inu without delay, wire transfers are not your best option.
Storing Your Shiba Inu Tokens
Don’t choose a broker until you decide on where you’ll store your Shiba Inu tokens. This is because the safety of your tokens is as important as choosing the right broker.
A common option is to buy your tokens on a broker and transfer them to an external wallet for storage. However, this means you’d be moving your tokens outside the broker, a process that might compromise the coins.
Therefore, a broker like eToro that offers you an in-built wallet is a better option. That way, you can use one platform to invest in Shiba Inu, store your tokens, and sell them when the time is right.
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How To Invest In Shiba Inu (SHIB) Today – Step-by-Step Walkthrough
In this How to Invest in Shiba Inu Guide, you have learned how to choose the right broker. The next thing is to understand the process of setting up your investment. This can be done in under 5 minutes once you know what to do.
Therefore, we provide you with a breakdown of how to complete your Shiba Inu investment
Step 1: Create an Account
You can do this by simply visiting the website of the broker you’ve chosen. On eToro, you can set up your account by providing basic details such as your full name, home address, and date of birth.
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Step 2: Validate Your Identity
After entering your basic details, you need to validate your identity by uploading a government-issued ID. This can be a passport or driver’s license. This step is referred to as the KYC process – which you must complete when you use a regulated broker like eToro.
You’ll also need to upload a document such as your bank statement or a utility bill to validate your address. Once you complete this process, your account will be verified, and then you can proceed to add funds to it.
Step 3: Add Funds to Your Account
Now that you have an account with a broker of your choice, you should deposit some funds into it. You can do this by using any of the options we mentioned earlier. These options include credit or debit cards, wire transfers, and e-wallets.
Step 4: Search for Shiba Inu
Next is to search for the token. You can do this by inputting ‘SHIB’ into the search box to find the coin. If you are using eToro, you can also go to ‘Trade Markets’ and select ‘Cryptocurrencies.’ From there, pick Shiba Inu from the tokens listed and move on to the next step.
Step 5: Complete Shiba Inu Investment
To complete your Shiba Inu investment, you need to decide on your stake and confirm the order. If you’re using eToro, you’ll have to invest at least $25 in Shiba Inu, as that’s the broker’s minimum requirement.
Once you complete the investment, the Shiba Inu tokens can be found in your eToro portfolio.
Step 6: Cash Out Your Shiba Inu Investment
Once you’re ready to cash out your investment, you can sell the tokens directly on the eToro platform. However, if you choose a broker that doesn’t have an in-built wallet, then you’d have to transfer your tokens over from an external storage option.
Once you sell your tokens, you’ll be able to withdraw your funds using the same payment method by which you bought Shiba Inu.
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How To Invest In Shiba Inu (SHIB) – The Bottom Line
Knowing how to invest in Shiba Inu requires you to understand the best broker for the purpose and relevant considerations to determine if the token is worth purchasing. Importantly, you should know that investing in Shiba Inu comes with its risk.
Therefore, you might want to invest small amounts at regular intervals to hedge against falling prices.
To that end, a regulated broker like eToro offers you numerous advantages when investing in Shiba Inu. With this broker, you can invest in a cost-effective manner and keep the tokens on the platform until you’re willing to sell them. Plus, the minimum SHIB investment is just $25.
FAQs
Is Shiba Inu a good investment in 2022?
Shiba Inu seeks to be a valuable token that stands out among other meme coins. As such, the team continues to develop projects that could impact the token’s value and expand its use cases. However, whether this coin is a good investment will depend on your long-term goal for buying the token. Therefore, it’s important to always research adequately before going ahead with your Shiba Inu investment.
What is the highest price of Shiba Inu?
Shiba Inu achieved an all-time high on 28 October 2021, when the coin reached $0.000088.
How much can I invest in Shiba Inu?
Ultimately, you can invest as much as you desire into Shiba Inu. Once the amount is in line with your investment goals and financial standing, you’re good to go. Notably, however, some brokers have minimum investment policies. For instance, if you’re using eToro, your Shiba Inu investment cannot go below $25.
How can I store Shiba Inu?
You must prioritize the safety of your tokens when investing in Shiba Inu. In that case, you’d need a secure Shiba Inu wallet. However, you can always use a broker like eToro that offers you an in-built wallet to store your tokens. That saves you the trouble of searching for a private wallet.
How to invest in Shiba Inu?
There are different ways to invest in Shiba Inu, but it’s safer and more cost-effective to use a regulated platform such as eToro. There, you’ll get all the features you need to invest in Shiba Inu seamlessly. Some of those features include a simple user interface and a low-fee structure.
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