Buy Shiba Inu (SHIB)
What is Shiba inu (SHIB)?
The cryptocurrency Shiba Inu is considered the answer to the popular altcoin DOGE, and proved to be a new meme token at the start. Since its inception, the value has increased by more than 1,000%. Overall, the token is considered to be the most discussed digital asset in the cryptocurrency market. Therefore, many people have started to invest in Shiba in Singapore.
More often than not, the meme coin offers owners little information and no value when compared to cryptocurrency market titans such as Bitcoin and Ethereum. Cryptocurrency Shiba Inu is an exception to the rule, as the developers aim to make the project as valuable as possible for holders. After all, the creators of the token launched a decentralised exchange in 2021. That's why many investors now want to buy Shiba at its launch to make money later.
Due to its rapid development, and mission to deliver more value, the cryptocurrency has become the second most popular meme. Despite the fact that Dogecoin's market capitalization is three times that of the Shiba inu coin. Since its creation, 1 quadrillion tokens have been minted.
The official author of the project is an anonymous person, signed "RYOSHI". In addition, it was later revealed that another person was developing the project, whom they met at a conference in 2019 on Ethereum.
What makes Shiba Inu unique?
In addition, coin Shiba Inu has three rules behind the creation of the cryptocurrency. Back in 2020, Rajoshi posted an article on the website calling the project an experiment to form a decentralised currency. Three key rules that make the project unique were also published:
- Not a single cent has been spent.
- The project owners bought their first coins themselves, along with everyone else, after the official launch on the market.
- No investment in an advertising campaign.
The authors of the project formed an ecosystem based on the three tokens SHIB, LEASH and BONE, then the cryptocurrency exchange ShibaSwap was launched:
- Shiba Inu is an ERC-20 token based on the Ethereum blockchain.
- ShibaSwap is a decentralised exchange, peer-to-peer, very similar to Uniswap. Not only tokens can be traded on the portal, other digital coins are also available. In addition, the exchange allows visitors to provide liquidity and put tokens, thereby earning a percentage of the available assets in the ecosystem.
- Bone ShibaSwap (BONE) - designed to work as a token aimed at managing the platform.
- Doge Killer (LEASH) - originally a reloading token that has the functions of an elastic token.
How to Buy Shiba (SHIB)?
So, how to buy Shiba in Singapore. Right now, this token has a really attractive value and many want to invest in Shiba for the long term. You can do so on the stock exchange. To choose the best exchange for the cryptocurrency, there are several factors to consider:
- Reliability and licensing.
- Multiplicity of assets.
- A convenient way to deposit and withdraw funds.
- Minimal commissions.
Binance is one of the most popular digital asset exchanges. For a long time, the marketplace has been at the top of the ratings of trading platforms in terms of the total volume of transactions.
To start shopping on Binance, you need to go through the registration and verification procedures. After verification, it will be possible to buy SHIBA INU in Singapore.
First, you need to buy stablecoins on Binance. After that, you can use your Stablecoins to buy Shib on Binance. This exchange supports funding with over 290 cryptocurrencies. Some of them you can exchange to Shiba at the best rate on the market.
When you buy a SHIB, you will be able to store it in an exchange account or cryptocurrency wallets.
SHIBA INU (SHIB) is an ERC-20 token, and you need to ensure that the wallet you choose supports ERC-20 token storage. You can continue to trade SHIBA INU (SHIB) using a hot wallet, web wallet or exchange wallet.
The future and prospects of cryptocurrency SHIBA INU
As for the forecast of Shiba Inu value. There is an uptrend from October 2021, which carries over into November 2021. A reputable analyst agency notes that the market is now in an uptrend and the coin's growth will continue in the near future at least until 2025. However, there are also those who say that this coin is just a joke and a bloated bubble. Time will tell. However, now any trader can buy Shiba Inu at an incredibly low price, which is a big plus
Now as for the benefits, here we can point out:
- Security. The token runs on the Ethereum blockchain.
- Perspectivity. The project developers plan to create the best ecosystem possible.
- Demandability. The project is a clone of the popular Dogecoin, any fluctuations in its exchange rate affect the dynamics of Shiba Inu.
Cryptocurrency trading broker platform
Brokerage platforms have become an alternative for traders who do not want to buy the asset and worry about what will happen to it in time. They usually offer CFD trading. The platforms are very innovative and interactive. Everything is done so that traders can comfortably earn their money.
There are various platforms that offer CFDs on cryptocurrencies. The success of your trading is largely determined by parameters unnoticeable in a superficial analysis, when you pay attention to the platform's features and even its popularity. When choosing, pay attention to how the liquidity issue is implemented, how the logic of order execution is implemented, and the configuration of the product itself.
Here are the main benefits that apply to brokerage platforms:
- Multi-activity, over 100 different assets to trade will allow you to try all markets from stocks to cryptocurrencies.
- Current news and economic calendar for fundamental analysis.
- Real time price feeds.
- Multiple depositing options.
- No minimum deal from $1.
- Video tutorials on different topics.
- Pending orders etc.
What is CFD trading?
The CFD ("Contract for Difference") is a financial contract entered into with your broker to profit from the difference between the opening and closing price of a trading position.
When you trade a CFD, you do not own the underlying asset in which you are investing as you receive (or pay) the price difference between the value of your contract when you open it and when you close it.
CFDs are leveraged financial products that allow you to use margin trading to profit from increased exposure to the market. Every time you want to open a trading position, you must set aside a portion of the total value of that position as collateral, which is margin.
As a result, you may invest more money than you have in your trading account. Consequently, because leverage magnifies price movements in all directions, they can be risky-you can make large profits, but you can also lose just as much.
In addition to leverage, one of the biggest advantages you get when trading CFDs is that you can benefit from both rising and falling markets, which means that you can make money regardless of the direction of the market.
CFDs are generally best suited to short-term traders (such as scalpers or intraday traders) who have time to trade.
How to start investing in Shiba Inu (SHIB) in Singapore?
To start investing in Shiba, you will need to open a personal account on the brokerage platform's website. You can either start directly from the homepage or by filling in the quick registration form. You can also do it in the mobile app. You can download the application from the official shop of your operating system or from the broker's website.
Choose your country of residence, enter your e-mail address and password. And wait until the registration is complete. After registration you will be offered to open a demo or real account.
A demo account is the type of account that brokers offer to beginners as well as experienced traders, to test the platform and practice their trading strategies. This tool allows traders to use virtual funds and participate in real trading, without risking their real money.
As a rule, the demo-version allows using all functions and charts tools, which traders are entitled to use on a real brokerage account. The broker demo account has been specifically designed to accurately simulate a real trading environment, based on current market conditions. It is funded with virtual money, allowing the novice investor to gain trading experience without risking their capital.
These types of demo accounts are offered by many online trading platforms, including forex, stocks and cryptocurrency trading.
When you decide to open a real account, the first thing you will need to do is log into your personal client cabinet and click the top-up button on the real account.
Normally, you can have 10$ or more topping up your account. Wouldn't you agree that this is a pretty convenient amount to start your new page in trading?
After you credited your account you will see the same trading terminal. In your personal cabinet you will be able to monitor quoted history, make deposits and withdrawals, communicate with traders and take full advantage of the platform. Have a great time trading!