The cryptocurrency world is one of the most volatile and, at the same time, most lucrative markets in the world. As per reports, the global user base of cryptocurrencies increased by nearly 190 per cent between 2018 and 2020.
If you’re looking for a new cryptocurrency to invest in, you should consider Shiba Inu. They are one of the most popular and well-known cryptocurrencies on the market today, and their value will continue to increase in the future.
The following article will explain why you should purchase Shiba Inu, its history and its current value.
What is Shiba Inu?
Shiba Inu is a cryptocurrency created in 2015 based on the Bitcoin protocol and stores and transfers funds.
‘Shiba Inu’ originally comes from the Japanese word for dog, ‘inu’. The Shiba Inu is a small, Spitz-type dog bred in Japan.
The Shibas have been bred to be loyal, friendly and courageous. They are known for their intelligence.
A Shiba Inu dog can be a great addition to any family. Hence, the currency named after it is intended to be just as reliable and trustworthy.
Why Should You Purchase Shibas?
There are several reasons to purchase Shiba Inu while trading with digital currencies. Some of them are explained below:
1. They are Secure
Shibas are one of the most secure cryptocurrencies on the market. They use a Proof-of-Work algorithm that is difficult to hack, and it means that your funds will be safe if you use Shibas.
2. They are Cheap
The price of a single Shiba is just $0.000024 as of this writing, making them one of the cheapest cryptocurrencies in today’s market. This low price means that you can buy a lot of Shibas without spending much money.
3. They are Popular
Shiba Inu has become the world’s most popular cryptocurrency recently. This popularity makes it easy to find buyers for your Shibas when you sell them or exchange them for other cryptocurrencies.
The History of Shiba Inu Cryptocurrency
Shiba Inu was launched in May 2021, based on the Bitcoin protocol, and it was launched after Bitcoin.
The original development team for Shibas is anonymous, and the cryptocurrency soon gained popularity.
Shiba Inu’s value increased in June 2021 when it became one of the first cryptocurrencies accepted on the Chinese exchange Huobi.
In September 2021, the Shibas development team released a new version of the DOGE cryptocurrency. It is based on the Litecoin protocol and uses Proof-of-Stake instead of Proof-of-Work.
The Current Value of Shiba Inu
Shiba Inu has a market capitalisation of $14 billion as of this writing and is the most valuable cryptocurrency in the market.
The value of Shibas is sure to increase in the future as the global user base of cryptocurrencies continues to grow. If you’re looking for a new cryptocurrency to invest in, you should consider purchasing Shibas.
How to Find the Right Platform to Buy Shibas?
If you’re looking to purchase Shibas, you can do so on several cryptocurrency exchanges. Finding the proper exchange can be difficult, though. Some exchanges have more fees than others, and some don’t accept specific payment methods.
Here are some features to check for when choosing an exchange to buy Shibas on:
1. The Exchange Should Accept Fiat Currencies
Not all exchanges accept fiat currencies. If you want to purchase Shibas with your local currency, you’ll need to find an exchange that accepts fiat currencies.
Fiat currencies are national currencies, such as the US dollar or Japanese yen. They’re called ‘fiat’ because a country’s government backs them.
2. They Should Have Low Fees
Cryptocurrency exchange platforms make their money by charging fees for trades. The higher the fee, the more money the exchange makes.
When looking for an exchange to buy Shibas on, be sure to check the fees that it charges. You want to find an exchange that charges reasonable fees so you can maximise your profits.
3. They Should Have Fast Withdrawal Times
Some exchanges take a long time for withdrawal requests. If you don’t want your funds locked up for an extended period, be sure to find an exchange that has quick withdrawal times.
4. They Should Have Good Customer Support
Cryptocurrency exchanges can be confusing to use. If you have a problem with an exchange, it’s essential to reach out to customer support for help.
Be sure to check the quality of customer support before choosing an exchange. You want to be sure that you’ll be able to get help if you need it.
Final Thoughts
Shiba Inu is an excellent cryptocurrency to invest in, and it’s cheap, popular and difficult to hack. You can purchase Shibas on several cryptocurrency exchanges. Be sure to check the quality of customer support and withdrawal times before choosing an exchange.
