Rookie’s Guide to Buying Shiba Inu
So you’ve worked up the nerve to buy some Shiba Inu; next thing you know, you’re like “Now what?” Don’t fret – we’ll sort you out in three quick steps.
If you’re going to hold some SHIB, you’ll need a crypto wallet app (much like any other crypto token, really.) They are literally smartphone apps that allow you to store and access your crypto tokens right on your phone.
Note: hard wallets boast the best security, but those are only good if the crypto stored on them exceeds the price of the wallet (what good is storing $20 worth of crypto on a $200 hard wallet?)
Not all wallet apps support Shiba Inu. Try Freewallet or Trust Wallet, to name a few. There are others, too. When you track the right one down on Google Apps/ App Store, download it on your phone and follow through with a pretty straightforward setup.
Now it’s off to top that wallet up with some shibs!
There are two places selling – centralized and decentralized exchanges.
Centralized exchanges are registered companies with staff and whatnots. They’re a trustworthy bunch with user support and other bells and whistles (unless you deal with shady types lurking in corners like, “Psss! I got what ya need!”) Once you’ve suffered through a bit tedious registration, you get to store your funds right there on the exchange, as well as to withdraw them to your wallet/debit card.
If you’re from North America, consider Binance, Coinbase Pro, Kraken or Uniswap. Otherwise, CEX.IO or EXMO might be a better fit for you.
Note: keep in mind that depending on your place of residence, some crypto exchanges may allow you to buy, but not sell your tokens. Alternatively, other exchanges may not serve certain nations at all. Always do some research first.
Then there are decentralized exchanges, such as ShibaSwap. There’s no pesky registration – you go in, trade your tokens peer to peer, you leave. Just link your Ethereum wallet to ShibaSwap and you’re ready to swap Ether for SHIB.
If you’re buying with fiat money and/or new to crypto, centralized exchanges are the best bet for you. If you just want to quickly swap your Ethereum for SHIB, consider ShibaSwap.
If you did your buying on ShibaSwap, your tokens will be sent directly to your wallet. If centralized you went, withdraw your SHIB to your wallet manually.
Note: crypto exchanges are pretty safe, but they are not 100% impervious to hacker attacks. It’s a good habit to withdraw your tokens to your personal wallet.
Navigate to your account on any crypto exchange of your choice. There should be a “withdraw” button next to your Shiba Inu deposit - hit it. Now fill in the recipient’s address (copied from your crypto wallet) and smash ‘send’. Your shibs should turn up in your wallet within 5-15 minutes.
Got the walnuts to write about crypto and earn Shib?
Every Joe/Jessica gets $5 worth of SHIB per article written for us, with an extra $1 raise for every tenth piece! You game?
