eToro Exchange Starts Supporting Shiba Inu due to High Demand
eToro will start offering Shiba Inu to its clients beginning July 29th. Shiba Inu was one of the top performers in the last crypto rally and hit an all-time high of $0.0000379.
Shiba Inu has started drawing attention now that the market is beginning to rebound. This is largely driven by its performance since it launched. From the perspective of price performance, Shiba Inu is easily one of the best performers ever.
From its all-time lows in November 2020, Shiba Inu was up by 11 million percent by the end of April 2021. This is driving a lot of investors to this crypto in anticipation of the next hype cycle.
Due to this rising demand, eToro, one of the top exchanges in the U.S and Europe, is now offering it to its customers. This has added to the excitement around Shiba Inu, as investors expect it to rally alongside top cryptos like Bitcoin and Ethereum.
Now that the crypto hype is coming back, investors may start getting curious about how to buy Shiba Inu on the eToro exchange. If you are one such investor, then here is a detailed guide that can help you out.
How Can I Buy Shiba Inu with eToro?
Before taking you through the process of buying Shiba Inu, you need to understand that Shiba Inu is not a stock. It’s a cryptocurrency, and cryptocurrencies are highly volatile investments. As such, if you are just getting into cryptocurrency, you should approach it with caution. Do as much due diligence as you can before committing money.
That said, let’s go through the process of acquiring Shiba Inu.
Step one: Create an account with eToro
eToro is one of the biggest and most reliable trading platforms in Europe and globally. eToro’s strong market presence has a lot to do with its customer-friendly nature. The platform is designed for use by both experts and new investors. What makes it even more user-friendly is the wide range of tools that it avails to investors. This makes it easy for investors to make informed trading decisions. Register with eToro today, create a trading account, and start buying Shiba Inu.
Step two: Add funds to your account
For you to complete the process of buying Shiba Inu using eToro, you need to add funds to your account. The best part is that, unlike most crypto exchanges, you can make your deposit in fiat currency. Making a deposit on eToro is also pretty easy. That’s because the platform guides you in selecting the source of funds and specifying how much you will be spending. You will also be happy to note that eToro does not charge its users a deposit fee.
Step three: Buy Shiba Inu.
Your trading account is now ready, and you have your funds in place. The next step is to buy Shiba Inu. To buy Shiba Inu, you need to first find the right currency pair, depending on your preferences. For instance, if you prefer buying your crypto using USD, then you should select SHIB/USD pair on eToro.
After choosing your preferred currency pair, select the amount of Shiba Inu you want to buy, and go ahead with the transaction. Once you do this, you will be the proud owner of one of the cryptos that outperformed the market by a huge margin in the crypto rally of Q1 of 2021.
However, it is essential to note that buying Shiba Inu is the easy part. The hard part is trading it, especially if you do not have any prior knowledge about the financial markets. Luckily there is a lot of useful materials online that can help you out on this front.
There is an easier way to do it too, and it involves following top investors on social media platforms such as Twitter. You can learn a lot about crypto trading from such people. You also have the option to try out the eToro social trading feature that allows you to interact and even follow top crypto traders.
What is Shiba Inu?
Shiba Inu commonly known as SHIB is a cryptocurrency that is growing in popularity. It is categorized as a meme coin because it became popular after the Dogecoin and GameStop buying frenzy earlier in the year.
Shiba Inu was created in August 2020, by an anonymous founder. While Shiba Inu was first created as a Dogecoin copycat, it has the potential to outgrow the joke tag, and become a very popular cryptocurrency.
That’s because it has a number of features that give it market value that transcend the hype. For instance, it is building a gaming ecosystem. Given that it has a strong community behind it, such developments could see it rally again as Bitcoin and other cryptocurrencies start to rebound. It has already established itself as one of the top altcoins in the market today.
Will Shiba Inu’s Price Increase?
It is important to understand that when investing in any asset, you are never guaranteed of returns. There is always the possibility of a loss. The chances of a loss are even higher for cryptocurrencies, due to their volatility. As such, there is no way to precisely tell the future of Shiba Inu.
That said, Shina Inu is one of the cryptos with a high possibility of growing in value going into the future. The community behind it is quite huge, and this is a big deal when it comes to the direction a crypto is likely to take, especially in bull markets. Besides, cryptocurrencies as an asset class are on an upward trajectory, and as the whole market rises, so will Shiba Inu.
Given how popular Shiba Inu is, and the fact that it is trading at over 70% off its all-time high, there is potential in it. Experts believe that it could make new all-time highs in the future.
eToro – Best Exchange to buy Shiba Inu
eToro have proven themselves trustworthy within the crypto industry for years – highly recommend them.
Virtual currencies are highly volatile. Your capital is at risk.