Are you unsure of where to acquire Shiba Inu? Shiba Inu made waves last year, surpassing almost every asset in terms of performance. The frenzy surrounding Shiba Inu followed the explosion of Dogecoin, a coin created as a joke similar to DOGE. Shiba Inu, launched in August 2020 to challenge Dogecoin’s dominance, gained the moniker “DOGE Killer”.
Although Dogecoin has reclaimed its position as the most valuable meme coin, SHIB, the tokenized Shiba Inu coin, remains one of the largest cryptocurrencies globally. Traders Union has created a comprehensive guide to help you determine the best place to buy Shiba Inu.
What is the Shiba Inu coin?
The Shiba Inu coin is a cryptocurrency that employs the Shiba Inu dog breed as its mascot. Based on the Ethereum blockchain, the Shiba Inu coin operates using the ERC-20 token standard.
The total supply of the coin is 10 quadrillion, with a circulating supply of around 4.8 trillion. It is widely traded on various crypto exchanges, owing to its affordability and the memes associated with it. The Shiba Inu coin utilizes a decentralized computer network similar to other cryptocurrencies. This network’s blockchain database records and tracks every transaction, providing a comprehensive history of the coin’s movements over time.
Top Platforms for Shiba Inu (SHIB) Purchases in 2023
Each platform offers unique features and characteristics, making Shiba Inu (SHIB) an attractive option for buyers in 2023. It is crucial to research and compare these platforms to find the one that aligns best with your preferences and requirements. Here is a brief overview of some of the leading platforms:
1. ByBit — Prime Platform for Shiba Inu (SHIB) Trading
Bybit, a cryptocurrency exchange based in Singapore, offers both spot and derivatives trading, including futures contracts. Bybit boasts a diverse range of over 280 coins, including Shiba Inu (SHIB). Bybit offers interest-bearing accounts where users can earn interest on their cryptocurrency holdings.
2. KuCoin — Top Platform for Staking Shiba Inu
KuCoin is a platform where users can engage in spot trading of SHIB/USDT, allowing real-time buying and selling of Shiba Inu for USDT. Additionally, KuCoin provides staking services for SHIB, allowing users to lend liquidity and earn daily interest based on the lending period and amount of SHIB involved.
3. Binance US — Prime Destination for Shib Trading in the US
Binance.US is a cryptocurrency exchange facilitating the purchase and sale of around 125 cryptocurrencies, including Shiba Inu (SHIB). It offers over 150 crypto-to-crypto trading pairs, albeit limited to Bitcoin and stablecoins. Spot trading fees range from 0% to 0.6% for non-Bitcoin cryptocurrencies, while Bitcoin trades can be executed by casual users without fees.
4. Huobi Global — Optimal Choice for SHIB Copy Trading
Huobi Global is a comprehensive cryptocurrency exchange offering various services, including spot and futures trading, staking, and lending. It supports over 350 cryptocurrencies, including Shiba Inu (SHIB). Spot trading on Huobi Global incurs a base fee of 0.2%, which can be reduced for users holding a certain amount of Huobi Tokens. Depositing cryptocurrency is free, but fiat wire transfers and Bitcoin withdrawals entail fees. Leveraged trading of up to 5x is available for over 80 tokens, including SHIB, and the platform also offers derivatives trading, such as traditional futures, perpetual swaps, and coin-margined futures.
In order to profit from trading SHIB, the most effective strategy is to acquire and retain it. Online platforms and applications offer the ability to buy and trade Shiba Inu. You have the option to store your Shiba Inu coins in either hot wallets or cold wallets, depending on your preference. Additionally, you can generate interest on your Shiba Inu assets by staking them.