DeutschWith an investment of around 1000 US dollars in January 2021, you could have made a fortune with Shiba Inu. The price of the cryptocurrency has multiplied this year and also overshadowed the quite positive price developments of other digital assets such as Bitcoin or Ethereum. Is it still worth investing in Shiba Inu? Before we introduce you to trading platforms where you can buy Shiba Inu Coin, we would like to give you a brief overview of the cryptocurrency.
What is Shiba Inu?
Shiba Inu is a cryptocurrency that has been set up on the Ethereum blockchain. This means that in this case it is an ERC20 token that does not have its own blockchain. Projects such as Ethereum or Solana enable developers to set up their own applications on the blockchain and create an associated token. Therefore, the term Shiba Inu token is actually more accurate, but the cryptocurrency is also referred to as Shiba Inu coin or simply SHIB token or SHIB coin using the abbreviation.
The name of the Shiba Inu coin is derived from the Shiba Inu dog breed. Therefore, the dog is also represented on the logo and is reminiscent of the most famous parody currency Dogecoin. As much as the logos of the two projects resemble each other, the two projects differ greatly from each other.
While Dogecoin is a cryptocurrency with its own blockchain and only serves as a simple means of payment, the developers of the Shiba Inu Coin are creating more and more use cases. Shiba Inu recently caused a stir with the first NFTs. The first decentralized exchange Shibaswap is also in the works. There should be a lot happening here in the next few months, which could boost the price of Shiba Inu.
Where Can I Buy Shiba Inu Coin?
In recent weeks, the number of crypto exchanges that carry Shiba Inu Coin has increased significantly. However, not all crypto exchanges are optimized for the German-speaking area. Therefore, we will present you with what we believe are the best trading platforms to buy Shiba Inu Coin.
Bitvavo, one of the leading exchanges from Europe (Netherlands) with a large selection of cryptocurrencies. PayPal deposit possible. Extra: 10 Euro bonus when registering via CoinPro.ch
Coinbase has been active since 2012 and is one of the most frequently used providers - the most important digital currencies such as Bitcoin, Litecoin and Ethereum can be traded on Coinbase
With several hundred thousand customers worldwide, Binance is one of the top 10 largest and most well-known exchanges. The use of the exchange is free of charge, with fees only applying to the purchase and exchange of cryptocurrencies.
Buy Shiba Inu Coin from a Crypto Broker
In our opinion, the easiest way to invest in Shiba Inu Coin is through a crypto broker. These are usually regulated in German-speaking countries. The special thing about a crypto broker is that you don’t buy the cryptocurrency directly, but speculate on the price trend of the cryptocurrency.
We particularly recommend Bitpanda when using a crypto broker. The crypto broker from Austria offers over 50 other cryptocurrencies in addition to Shiba Inu. The special feature is that you can also invest in precious metals and stocks. This allows you to build your entire fortune through a single trading platform. Registration is possible within a few minutes, so you can start buying Shiba Inu Coin right away.
Although Bitpanda is a broker, you have the advantage that you have the cryptocurrencies in physical form. This means that you can also transfer them as with a classic crypto exchange. The fees at Bitpanda are also not particularly high at 1.49 percent.
Bitpanda is particularly characterized by its high level of user-friendliness, which is why we particularly recommend Bitpanda to beginners to invest in Shiba Inu (SHIB). With Bitpanda you will find a simple partner to enter the world of Shiba Inu and other cryptocurrencies.
Buy Shiba Inu Coin from a Crypto Exchange
If, on the other hand, you decide to buy Shiba Inu on an exchange, you should make sure that you are always responsible for the custody of your coins. If you decide to leave your SHIB tokens on the exchange, you are still solely responsible for them. A hardware wallet is therefore particularly recommended for storage.
The advantage of buying Shiba Inu from a crypto exchange is that you pay significantly lower fees than with a broker. Two crypto exchanges from our crypto exchange comparison that we recommend are Binance and Coinbase. Both exchanges have been on the market for years.
While Coinbase is ahead in terms of regulation, Binance impresses with a huge selection of cryptocurrencies, so using both crypto exchanges can also make sense.
Shiba Inu Coin vs. Dogecoin
Shiba Inu is now also called the “Dogecoin killer”. This is because DOGE was the undisputed number one meme currency for a long time. Due to the incredible price rally in 2021, SHIB briefly overtook Dogecoin and even reached eighth place among cryptocurrencies.
Elon Musk was particularly important for the course of the meme currency prices. Musk himself has a Shiba Inu as a pet, named Floki. There is now also a meme currency for this. Especially after Elon Musk declared that Dogecoin was his favorite currency, the DOGE price exploded.
Do you want to invest in Dogecoin instead? Then click here.
Many implied from Musk’s statements that he was also invested in Shiba Inu. However, he recently denied this. Shiba Inu and Dogecoin are both memecoins, but differ in most areas. As described above, Dogecoin is a cryptocurrency with its own blockchain, while Shiba Inu is only a token on the Ethereum blockchain. Similarities only arise in the logo and the community. Many Dogecoin investors have also invested in Shiba Inu.
Is an Investment in Shiba Inu Coin Worthwhile?
Even though the cryptocurrency market itself is very volatile, memecoins like Dogecoin or Shiba Inu fluctuate much more in price. This is of course associated with a higher risk. Accordingly, however, the prospect of profit is also higher.
Therefore, it can be worthwhile to invest in Shiba Inu. For this, it is important to pay attention to the strength of the SHIB community. In social media, the investors of the memecoin regularly make headlines. This is an important point in this case.
Because the community in particular has an enormous influence on the price of a cryptocurrency at the beginning. Many investors also regularly confirm that they have no intention of selling SHIB again.
For those who are not afraid of the risk and are speculating on high profits, buying Shiba Inu should be worthwhile. As with all investments, it is important to only invest the amount that you are already willing to invest.
Frequently Asked Questions about Buying SHIBA Inu Coin (SHIB)
Unfortunately, PayPal does not yet offer the possibility to invest in SHIB via PayPal in German-speaking countries. If you still want to buy Shiba Inu Coin with PayPal, you can create a customer account with the Bitpanda crypto exchange and make a deposit there via PayPal. You can then purchase Shiba Inu Coin for a small fee. The deposit via PayPal is free of charge.
Unfortunately, it is not possible to buy Shiba Inu Coin anonymously without registration. This is because reputable trading platforms have to comply with legal regulations. This primarily includes verification of the buyer's identity. Therefore, you cannot buy SHIB without registration from the providers that we introduce to you for the purchase of Shiba Inu Coin.
Shiba Inu Coin is one of the largest cryptocurrencies on the market. The hype in 2021 led to an increase in value, which meant that Shiba Inu was temporarily among the 10 most valuable cryptocurrencies on the market. However, an investment in Shiba Inu is very speculative. Even if you are convinced of Shiba Inu Coin, you should invest a maximum amount that you are willing to lose completely in case of doubt.
