Buy Shiba Inu (SHIB)
What is Shiba Inu (SHIB)?
A cryptocurrency is a digital (virtual) currency that has no physical expression. The unit of currency is 'coin', which means 'coin' in English. At the same time, a coin is protected from counterfeiting, because a coin is an encrypted information, which cannot be copied. The use of cryptography led to the use of the prefix 'crypto' in the name of a cryptocurrency.
Cryptocurrency can be said to be a digital (virtual) currency that is used by participants in circulation for the purpose of making payments on the Internet. In this case, the peculiarity of the monetary unit is its protection against counterfeiting, as it contains encrypted data that cannot be duplicated.
In addition to the fact that cryptocurrency can be used to pay for services and goods, many people earn from reselling it or investing in it. As far as modern times are concerned, there is a boom in digital technology, which is becoming more and more entrenched in our lives. And investors are getting ideas to buy Shiba for the long term, especially now the price is incredibly low, less than $1.
But Shiba is not a classic cryptocurrency. It is primarily a token, although you can also buy Shiba INU on an exchange.
Shiba Inu (SHIB) is the latest breakout meme token from the blockchain investor community. This token is seen by many as a Dogecoin knockoff, as it also draws inspiration from the famous Shiba Inu.
What makes the token unique is the lack of a proprietary Blockchain base. Instead, specific decentralized applications created by developers on Ethereum, NEO and other platforms are used. Such projects include the use of smart contracts in their work, so tokens are also part of the network.
Tokens can have a physical expression: a commodity, a service, real estate, i.e. absolutely anything. However, in some cases, they retain a digital expression, for example, the purchase of something within the network. Tokens can give a discount on the purchase of a product/service or act as a voting fee. Tokens have value and can be sold or bought. For example, some users use them to make speculative transactions, buying first at a lower price to sell later at a higher price.
Where do Shiba come from?
Shiba Inu entered the market in 2020. It was launched by a group of anonymous developers. The main developer is Ryoshi.
The coin, which started out as a joke, has grown so much that it became the 4th largest cryptocurrency by market capitalization in a short time, with a market capitalization of over $70 billion.
This was made possible by several retail investors and, of course, Ilon Musk - one of Dogecoin's most ardent commentators. However, it has also led to many clone coins, most of which are heavily inspired by DOGE.
Is it worth to buy SHIB?
It's important to realize that Shiba Inu has a great start. The timing of the new meme token was perfect - those who missed the impressive growth of Doge were trying to catch the new wave. In addition, each modern listing on the exchange helped raise the coin's price even further.
Shiba inu aimed to capture the momentum and leverage it to further expand its ecosystem.
In other words, SHIB is a speculative asset. It was created as an alternative to another speculative token, DOGE. However, SHIB is not backed by famous people who support it. Most people who have bought it are those who missed the phenomenal growth of Dogecoin and want to try their luck.
SHIB could experience a boom in the cryptocurrency market in the coming months, just like any other altcoin. But subject to bitcoin's upward movement.
Where to buy Shiba?
The cryptocurrency has quickly attracted worldwide attention, in part because of the growing popularity of other meme tokens. The Shiba token is also supported by a large community of coin holders who promote the coin on social media. If you want to invest in Shiba Inu Coin, you can buy it on an exchange and then transfer it to your cryptocurrency wallet or leave it in an exchange account for safekeeping. It is also possible to make money on cryptocurrency, using brokerage platforms, by purchasing a CFD contract rather than the asset itself. But first things first.
To buy Shiba in New Zealand, or to exchange it for other currencies, the most reliable exchanger is Binance, which is the largest cryptocurrency exchange in the world for several years. It is safe and convenient for beginners and pros alike.
Binance is the most popular cryptocurrency exchange, as it has the highest trading volumes and supports transfers from bank cards and payment systems.
Once you've exchanged the cryptocurrency you want on the exchange, you need to transfer it to your cryptocurrency wallet, so that you can use it at any time if needed and protect yourself from fraud and hacking. So you can invest in Shiba in New Zealand for any length of time.
A lot of people are looking for a Shiba price forecast. It is believed that the price of Shiba Inu will rise in the coming years. The price is predicted to rise to $0.00002023 by the end of 2021, double the current price. After a surge in 2021, the price of Shiba tokens is expected to continue to rise in 2022. Prices are also projected to increase in the next years.
Many DeFi tokens that didn't exist last year have shown thousands of percent growth this year.
How can you make money on Shiba?
In addition to exchanging your currency for Shiba tokens, you can earn cash with minimal investment, without buying the asset itself. It's really convenient and profitable!
To do this, you will have to find a reliable broker who provides you with an online platform. In this trading platform, you will be able to buy and sell assets using CFDs.
Try trading with a CFD broker for free right now, use a virtual account!
Advantages of the platform:
- Minimal thresholds for trades, you can enter into a contract for as little as $1-2. Of course, you are not limited to a fixed amount, and the bigger your "bet" is, the more profit you can make. But you can start with as small an amount as you want.
- Video tutorials on a huge number of topics.
- 24/7 Customer Service.
- A large selection of assets to trade, there are more than 100 of them, and they are replenished.
- Stop Loss and Take Profit features to automatically close trades.
- Chats with Traders.
- News and analytics (data charts, trading indicators). Etc.
In other words, you can come to the platform as a complete beginner, learn from videos, ask questions to other traders, practice on a demo account and after learning, go for real trades.
How to start investing in Shiba Inu (SHIB) in New Zealand?
So you can buy Shiba Inu in New Zealand using the exchange, and you can also buy CFDs on the broker's platform for various assets, including cryptocurrencies. Check the current list of currencies when registering, assets are constantly being added.
To use the platform, simply register for free, and it only takes a couple of minutes to fill in the required fields on the form.
For those who don't know what these contracts are, we will tell you a little more about them. CFDs are a type of bet between two parties regarding the future value of a particular financial instrument (currency, shares, etc.), in which both parties agree to settle an amount equal to the difference between the opening and closing price of the position. Hence, the term "contract for difference". You can also watch the instructional video on the platform!
In simple terms, if you buy such a contract and the price of the underlying instrument goes up, you will receive the corresponding difference from the broker who sold it to you. On the other hand, if the price falls, the difference will be taken from your account.
When you open a position on a CFD contract, you need to know that you do not become the holder of the underlying instrument. It is a bet with the other side of the contract whether its price will rise or fall. If you think the price of the asset will rise, you hit the buy button. If you think it will fall, you should press the sell button. This way you can profit from both rising and falling prices.
A demo account is a demonstration account that is designed to practice investing skills in conditions similar to real trading. Many large brokers will allow you to trade in securities, currencies and even complex derivatives on request.
By opening it, you will automatically receive a virtual sum into your account, on which you can practice. Namely, to buy contracts and analyse your actions based on how successful the trade will be.
As soon as you understand the essence of the work on the platform, open a regular trading account. To do this, go to your Personal Area and click the top-up menu. Then choose the deposit method that suits you best and deposit the minimum amount. As a rule, the broker sets a small threshold for entry, about $10, check the exact amount when you register.
You will also be able to take advantage of margin credits if needed. The amount of leverage shows how many times the amount you can spend on a trade is greater than the amount you actually have. In other words, if you don't have enough money in your account, the broker lends it to you.
Keep learning and practising, diversify your portfolio and try different trading strategies, you will succeed if you believe in yourself and act. Good luck!