In the cryptocurrency calculus, tokens like Shiba Inu and Dogecoin are known as meme coins. They were created mostly for fun, and some of them have no real impact on the crypto space or the real world. Meme crypt of the Shiba Inu token, and it’s hard to consider real money.
There are some coins in the cryptocurrency balance that are much more valuable so that they can be considered real money. These cryptocurrencies, such as DASH, are deliberately designed to act as a medium of exchange between merchants and their customers worldwide. Some of these coins, such as Litecoin and DASH, have come into use around the world with Meme Coins.
Stablecoin are cryptocurrencies whose value is pegged to fiat currencies. This means that unlike regular cryptocurrencies, their values do not vary much.
Shiba Inu fees and expenses
The transaction fees related to the purchase and sale of Shiba Inu depend on the cryptocurrency exchange used by the investor. Each exchange has a fee structure and determines the amount that users would pay to buy or sell a SHIB token. We encourage readers to do research on potential cryptocurrencies and trading platforms. Find out their payment structure before making any investment decision.
In addition, the ERC-20 token may have Gas payments when you purchase Shiba Inua. Confirm the gas payments included with the token if you want to purchase SHIB from ShibaSwap DEX or other trading platforms.
What are the benefits of Shiba Inu?
As one of the world’s leading memo coins, Shiba Inu offers some benefits to cryptocurrency traders and investors. Some of these benefits include;
Distributed stock exchange
One of the main benefits of Shiba Inu is that the ecosystem has its own decentralized exchange. Thanks to its decentralized exchange, investors can be sure that they can easily obtain a SHIB token at any time. In addition, it provides growth space for the Shiba Inu ecosystem as it makes it part of a decentralized financial space.
The popularity of meme coins
Meme coins are trendy in the cryptocurrency market. Their popularity has only begun to grow in recent months, and investors seem to notice them and keep an eye on their performance. Shiba Inu seeks to capitalize on this meme mania to gain popularity and build uses for its token in the long run.
Can Shiba Inua be used anonymously?
The market has experienced tremendous growth in recent years, and strict regulations have made the so-called “under the radar” almost impossible. With a market value of more than $ 2 trillion in the cryptocurrency market, regulators are asking more cryptocurrency exchanges and other service providers to adopt KYC (Know Your Customer) and AML (Anti-Money Laundering) policies to curb the negative use of crypts.
Shiba Inu is not a privacy coin and does not have features to ensure that all transactions are private and Anonymous. Without these features, it would be difficult to ensure that investors or traders can use SHIB anonymously.
How Safe is Shiba Inu?
For now, Shiba Inu can be classified as a secure token. However, despite the security offered by the Ethereum block chain, the investor should also take steps to ensure the best possible security for his SHIB investment.
The best wallets for storing SHIB tokens are cold wallets like Ledger. In addition, we encourage investors to introduce additional security features into their wallets, such as the 2FA.
Which teams are working on Shiba Inu development?
Shiba Inun created a developer or developer group called Ryoshi in August 2020. The team has remained anonymous. Ryoshi has claimed that his identity is not important. The developer has been responsible for the Shiba Inu project since its creation.
With the BONE ID, members of the Shiba Inu community can participate in its administration and vote on any changes and updates to the network.
Which financial institutions have invested in Shiba Inu?
There are currently no large financial institutions that have invested in Shiba Inu. While financial institutions have begun to show interest in cryptocurrencies, most of the interest has been in leading coins such as Bitcoin, Ether, Cardano, XRP, Litecoin and others. Unlike Dogeco, who has the support of Elon Musk, Shiba Inu does not currently have a known supporter.
The developer sent some SHIB tokens to Vitalik Buterin early to gain some popularity for the token, but Vitalik has already donated some of the tokens while burning the remaining tokens.
Mining of Shiba Inu
Shiba Inu is an ERC-20 brand without its own block chain, and coin mining is not possible. It is currently available for purchase on stock exchange / brokerage platforms.
