Cryptocurrencies have become mainstream in 2021, as many corporates and brands have started accepting payments in crypto. A lot of celebrities like Elon Musk, Mark Cuban and even Jordan Belford have started to endorse cryptocurrencies. In the beginning, only a very small handful of cryptocurrencies were taken seriously, mainly Bitcoin and Ethereum. However, over the past year or so has seen a resurgence of the Altcoins. What are these Altcoins?
Basically, any coin other than a Bitcoin can be called an Altcoin. Examples of a few Altcoins would be Ripple, VeChain, Dogecoin etc. Over the past year, the prices of Altcoins have risen significantly, even overshadowing the percentage gains of Bitcoin and Ethereum. So, Altcoins have become attractive investments for investors looking for fast profits. A new Altcoin called Shiba Inu Coin has recently been gaining traction online. In this article, we’ll take a look at how to buy Shiba Inu Coin in India.
What is Shiba Inu Coin?
According to their official website, the Shiba Inu Token (SHIB), is an experiment in decentralised spontaneous community building. The creators of this token have created it from inspiration from Dogecoin. However, the creators of Shiba Inu aim to make SHIB more than just a joke. The SHIB Token is an ERC-20 compatible with the Ethereum network. The Shiba Inu has been called ‘Dogecoin Killer’ by its community. This cryptocurrency has quickly gained worldwide attention, in part because of the rising popularity of Dogecoin.
However, people should be wary of coins like these. Over the past few months, many coins like Safemoon, SafeGalaxy and other coins have been made and pumped. However, these coins were very obvious pump and dump coins that left a lot of losses for a lot of people. These coins are made to make quick profits and exit the markets. While the creators of Shiba Inu haven’t given any indication that Shiba Inu is one of these ‘Get rich quick’ coins, people should be wary and diligent before investing in any coin that is rising in price just because it’s going viral.
How to buy Shiba Inu Coin?
As per their website, the Shiba Inu Coin can only be bought from the Uniswap platform. In order to buy the Shiba Inu coin, investors will have to create digital crypto wallets and connect them to the Uniswap platform. Once you have your wallet connected to Uniswap, you will have ETH to purchase Shiba Inu Coins on the platform. You can buy Ethereum off any crypto exchange, but transferring them to your wallet may cost you fees. At the of writing this article, the Shiba Inu Coin Price stands at $0.000014. Stay tuned for more updates on cryptocurrencies.