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    HomeCryptocurrenciesAltcoinsWhat is Shiba Inu and how to exchange BTC to SHIB?

    What is Shiba Inu and how to exchange BTC to SHIB?

    Anyone familiar with the crypto world will know about the rise of meme coins, which has recently been championed and brought to the mainstream by celebrity founders such as Elon Musk. His affinity for the whole cryptocurrency joke is not hidden to anyone in the crypto world. A coin meme based on Shiba Inu. What is Shiba Inu? It's a Japanese dog breed. This dog serves as a mascot for several coin memes, including the coin we're about to talk about.

    The coin meme that has our attention today is Shiba INU coin (SHIB). A coin that was created and marked "Dogecoin killer" by its founder Ryoshi. The coin is said to be a much better version of Dogecoin. Now, let's delve deeper into what Shiba Inu Coin is and how you exchange BTC for SHIB.

    What is a Shiba Inu Coin (SHIB)?

    SHIB is a coin meme that uses the Shiba Inu dog breed as its mascot just like DOGE. It has recently come into the spotlight amid growing interest in its cousin DOGE and the perceived interest of TESLA's CEO Elon Musk to DOGE . Like the headline generated when the co-founder of Ethereum Vitalik donated the coins to SHIB, which were given to him in an Indian charity. The coin has gained popularity and interest from a wide range of consumers and investors and its presence in the community is growing very strong.

    DOGE was created as a crypto to bitcoin joke. Well, we can say that SHIB was created as a joke crypto to DOGE, which makes it a joke of a joke. The Shiba Inu crypto is part of a horde of dog themed characters that include DOGE, Alaska Inu (LAS), BabyDoge, JIND and LASM.

    What is SHIB?

    Main features of the Shiba Inu coin

    • Based on Ethereum

    While DOGE is based on the same technology that powers bitcoin, the Shiba Inu cryptocurrency coin is based on Ethereum technology. It was created as a wildcard in the ERC-20 standard.

    • Fixed delivery

    The total supply of the Shiba Inu coin is fixed at 1 quadrillion, which is still a lot of SHIB coins. Although the token cannot be classified as scarce, which is key to increasing the value. However, about half of the tokens are held by Vitalik who has decided to burn 90% of it.

    • Three characters in the same ecosystem

    The Shiba Inu ecosystem includes three symbols which are SHIB, LEASH and BONE. Shiba Inu Crypto is the main symbol and investors can buy it in thousands, millions, billions or even trillions and hold it in their wallet. The SHIB coin is relentless in its goal to expand its reach.

    We also have LEASH , which can be called the scarcest of the three, as its total supply is limited to 107 646. It was originally designed as a re-base sign but has since been re-designated to reach its full potential. The LEASH leken is labeled the other end of the Shiba Inu ecosystem.

    Finally, we have BONE, which is the next stage in the journey of the Shiba Inu cryptocurrency. This will mark the launch of the SHIB Defi ecosystem and will require users to pledge their SHIB token to dig for the BONE token.

    SHIB coin

    As of July 3, 2021 the Shiba Inu crypto is trading at $ 0.000008594 with a daily trading volume of $ 384,250,858. The market cap is currently $3,392,758,105 and is ranked 28th in the CoinMarketCap . It has a verified circulating supply of 394,796.00B SHIB coins. The total supply is limited to 1 quadrillion, which means there can never be more than that in circulation. Ryoshi reportedly locked up half of the total supply and destroyed the key. While a huge chunk was also sent to Ethereum co-founder Vitalik.   

    Vitalik is also reported to have burnt about 90% of the tax sent to him, and to have sent some to a charity in India to help mitigate the effects of Covid-19. Unlike the DOGE, the tokenomics of the Shiba Inu coin is more complicated, as a portion of the coin is burned every time an investor buys a SHIB. This will eventually make the coin scarce over time. You can also earn the BONE token on the Shiba Inu platform by pledging your Shiba Inu crypto.

    Community

    Since the cryptocurrency Shiba Inu launched in 2020, it has gained a strong following in the crypto market. This can be seen in the way the token has managed to break into the top 30 tokens in the world according to CoinMarketCap. It also has a strong online presence on social media.

    What is SHIB?

    Why are meme coins worth considering?

    The meme coins, as the name suggests, began as a joke that no one thought would ever be taken seriously. As it turns out, that assumption was wrong, and now investors believe they won't be trifled with in terms of ROI. So, are memes like the Shiba Inu coin worth considering for your portfolio? Is Shiba Inu a good investment?

    Well, meme coins have proven to be a good source of short-term profit for most investors. The way they have managed to gain popularity in such a short time, thanks to the rigorous pursuit of retail investors and influencers, ensures that you can make a short-term profit. However, the feasibility of long-term profit is still unclear as meme coins are mostly based on speculative drive.

    The highly volatile nature of coins also means that you can easily lose your investment if care is not taken. There are tons of coins with memes, with CoinMarketCap reporting that we have over 5,000 of them. These coins tend to pump big and dip big, giving you an insane margin of loss and gain.

    Only careful and precise planning can ensure that you make a profit and achieve a quick return on investment, as you need to know when to buy and sell at the right time.

    How to get a Shiba Inu coin?

    You can get Shiba Inu crypto from several exchanges as the coin is available on many reputable exchanges and DEX. You can even exchange the SHIB coin on ShibaSwap which is owned by Shiba Inu. The coin is also available on Ethereum's most famous DEX Uniswap. Alternatively, you can visit Swapzone to exchange your bitcoin with the SHIB coin.

    How to exchange bitcoin to Shiba Inu?

    Exchanging Shiba Inu coins doesn't have to be that difficult, especially when you have an exchange marketplace like Swapzone that brings you the best Shiba Inu/Bitcoin exchange rates from various exchanges. Best of all, you can exchange your bitcoins directly for Shiba Inu crypto directly from the Swapzone website.

    1. Go to website on Swapzone.
    2. Select Pairing from BTC to SHIB.
    3. Enter the amount of BTC you want to exchange for Shiba Inu cryptocurrency Swapzone, will now bring you the best rates from various exchanges offering BTC/SHIB pairing and display the amount of SHIB you get for your BTC. Swapzone makes it easy to exchange Shiba Inu coins by letting you choose the best offer that suits you from the list of Shiba Inu exchanges.
    4.  Click on the exchange button which will ask you to provide the address to which you want your newly purchased SHIB tokens to be sent. There is also space for a BTC refund address.
    5. Click the " continue the exchange" . Swapzone will also show you a preview of the exchange site you have chosen to purchase from.
    6. Wait for the deposit to be processed by the exchange office and the exchange to be made.
    7. Be sure to rate the exchange partner and leave a review so we can gather more information about the exchanges for future users.

    Video guide on how to convert SHIB to Monero

    The video below provides a visual guide on how to easily convert SHIB to coins.

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    Sourceswapzone

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