How to Buy Shiba INU in the USA
A Beginner’s Guide to Buying and Trading Shiba Inu Coin in the USA
Interested in buying Shiba but don’t know where to start? You’re in the right place. We’ve put together a handy guide with our top tips on how to buy Shiba in the USA.
Shiba investing is a dynamic and potentially profitable venture. Here is all you need to know about how to buy Shiba in the USA, investing strategies and tips, and how to start trading this famous meme cryptocurrency.
In recent years, meme coins are becoming more and more popular in the cryptocurrency market. One of such coins is Shiba Inu, a relatively new cryptocurrency project that has already won lots of interest in a short time.
This resulted in the rapid growth of the Shiba Inu price since early May 2021, however, its value was negatively affected during the last crypto market drop - The falling prices of Bitcoin, Ehtereum, and other famous crypto affected the whole crypto market, including Shiba Inu prices.
So, what is the Shiba Inu coin, and why was it created? This guide will introduce you to this cryptocurrency project, discuss its goals and objectives, its price history, future price predictions, and show you how to buy Shiba Inu coin in the USA.
What's in This Guide?
- QUICK GUIDE: HOW TO BUY SHIBA INU COIN IN THE USA
- What is Shiba Inu Coin?
- How Shiba Inu Works and What Affects its Price?
- Is Shiba Inu Coin A Buy Right Now?
- How to Buy Shiba Inu Coin online in the USA - A Step by Step Guide
- How to Trade Shiba Inu Coin in the USA - A Step by Step Guide
- Shiba Inu Advantages and Disadvantages
- Shiba Inu Price Prediction?
- What is the Total Supply of Shiba Inu?
- Things to Consider Before You Invest in Shiba Inu in the USA
QUICK GUIDE: HOW TO BUY SHIBA INU COIN IN THE USA
- Open an account with a regulated cryptocurrency exchange in the US.
- Verify your account.
- Go to the deposit section.
- Go to the platform and select SHIB.
- Enter how many SHIB coins you want to buy.
- Check the details and confirm your purchase.
What is Shiba Inu Coin?
Shiba Inu is a cryptocurrency project launched in April 2020. It's still unknown who Shiba Inu founders are and what's the background of the founders, as they hide their names. Still, one of them is known on Twitter under the pseudonym "Ryoshi".
Shiba Inu has some similarities with another famous meme coin known as "Dogecoin". Both projects use this Japanese breed of dog, Shiba Inu, to represent their projects and depict this dog on their logos. They are both created as meme coins and basically do the same function in the crypto market. However, Shiba Inu crypto founders describe their project as "an experiment in decentralized spontaneous community building."
Dogecoin and Shiba Inu are actually rivals in the market. According to the Shiba founders, their crypto is the improved version of Dogecoin and has many advantages over it. They also have a token, SHIB token which is also dubbed as "Dogecoin Killer," and they believe that soon it will outperform Dogecoin.
How Shiba Inu Works and What Affects its Price?
While Dogecoin uses the same blockchain technology as Bitcoin, Shiba Inu relies on Ethereum Network. On their Woof Paper (Whitepaper with dog theme), Shiba founders describe why they chose ETH, which according to them "is already secure and well-established and truly allows us to stay decentralized."
It's even mentioned on their Woof Paper that they gifted 50% of the Shiba Inu tokens to the ETH founder Vitalik Buterin. However, Vitalik recently announced that he had burnt 90% of his tokens, sending them to the dead blockchain. In this way, the tokens got out of circulation, and the remaining 10%, as Vitalik mentioned, would be given to charity organizations. As an explanation, Vitalik reasoned that he did not want to hold the power of controlling the market.
Shiba founders are also launching another project - ShibaSwap, a crypto trading decentralized ecosystem. This DECO will be based on the three tokens developed by Shiba founders - Shiba Inu or $SHIB, Leash Dogecoin Killer, or $LEASH and Bone or $BONE. Using these three tokens, users can generate “Returns” on ShibaSwap. These are the primary goals that the project's founders challenged themselves.
Shiba Coin Price Performance
In terms of Shiba's price performance, let's take a closer look at its price history to better understand how Shiba grew from the project launch and discuss the factors affecting its prices.
So, the Shiba Inu coin stepped into the cryptocurrency market with relatively low prices. It was for a particular reason, though - to allow its users to have millions and trillions of these coins. At this time, there are over 400 trillion Shiba Inu coins in circulation, according to Coin Market Cap.
Shiba Inu coin price history, source: coinmarketcap.com
If we take a closer look at Shiba Inu's price history charts, we see that there was no significant growth in 2020 for this crypto. But since the beginning of the year, this crypto has become very popular mainly due to its citation on Twitter. This and the fact that such large exchange platforms as Binance and FTX listed Shiba Inu on their exchange have been major contributions for the 5-digit YTD return from the start of the year.
Shiba Inu prices started to grow and hit their all-time level in May when the coin was traded at $0.0003. This growth got a bit affected by Vitalik Buterin's decision about burning his tokens, which convinced many Shiba holders to sell their coins as they started to suspect its success after that. So, Shiba prices dropped to $0.00002. But that was not the only reason that had a massive influence on Shiba prices.
Due to the last days' major sell-off in the cryptocurrency markets, all the highly valued and famous cryptos started to lose their value, with BTC hitting as low as approximately $30000 on May 20. This huge drop is mainly associated with Tesla CEO Elon Musk's announcement that Tesla would not accept BTC anymore as its mining consumes lots of energy and does extensive damage to our environment. The announcement was followed by China bank expanding its cryptocurrency crackdown. These two factors harmed the whole crypto market, and the other cryptocurrencies also dropped significantly, including Shiba Inu and its rival Dogecoin. At the time of writing, Shiba Inu prices are fluctuating between $0.000009-$0.00001.
Check Out: Why Shiba Inu Is Going To Explode
Is Shiba Inu Coin A Buy Right Now?
From the perspective of a long-term investor, if you want to invest in Shiba Inu, it's the right time to do that as Shiba prices have significantly dropped in the last few days and the coin is currently trading at relatively low prices. But it's also worth mentioning that you should be very careful when investing in this crypto.
Analysts consider SHIB a good long-term investment as the project has serious objectives and goals that can bring changes to the market. Traders use it to make a profit on price movements.
So, Shiba Inu can be a good short-term investment as it's a speculative asset. After all, it's a meme coin, and you had better avoid this crypto if you are afraid of losing your money. With that in mind, the case was the same for coins like Dogecoin, and even... Bitcoin.
How to Buy Shiba Inu Coin online in the USA - A Step by Step Guide
For those who are based in the USA and want to invest in Shiba, here is a step-by-step guide on how to get started.
1. Find a USA Regulated Crypto Exchange that Supports Shiba Inu Coin
Having decided to invest in Shiba Inu coins, your first step is to find a crypto exchange platform that supports Shiba Inu and works in the USA. You need to know that different exchanges charge different fees, so while selecting the appropriate platform, pay attention to the types of fees it charges. Another thing to take into account in this process is how quick and easy it is to transact through the exchange. With this in mind, here are two of the most well-known exchange platforms that you can use to buy Shiba Inu coins in the USA.
eToro: This platform is one of the most recommended exchanges for USA residents.
2. Register for an Online Account and Fund Your Account
The next thing to do after selecting the exchange platform is to register for an online account. You must fill in your personal information (name, birthday, etc.) and then pass through various verification phases depending on the platform you are opening your account.
After verifying your account, you also need to provide credit or debit card information (if the exchange accepts fiat currency as a payment method) and deposit some funds into your account. Otherwise, if you already own Bitcoin or any other cryptocurrency, you can simply transfer the funds to the exchange built-in wallet.
3. Buy Shiba Inu Coin
After finishing all these technical steps, you need to search for Shiba Inu and buy it. Or, if your platform does not allow you to buy Shiba directly, you must first purchase other cryptos like BTC or ETH and then swap it with Shiba Inu.
4. Transfer Your Funds to a Hardware Wallet
This step is not necessary, but it is recommended. So, after making your purchase, you can transfer your coins to a hardware wallet if you want to keep them more secure. Some crypto platforms offer their personal wallets, so you can use their wallets for this purpose.
How to Trade Shiba Inu Coin in the USA - A Step by Step Guide
This part of the article will guide you on how to actively trade Shiba Inu coins in the USA.
1. Find a Crypto Platform that Supports Shiba Inu
To start trading Shiba Inu, you first need to find a platform that supports this cryptocurrency and accepts USA residents. Trading platforms usually differ in the amount and types of fees they charge. Some platforms are easy to use, while others don't work too fast and are pretty hard to use. So, try to consider these two factors in making the final decision based on your needs.
2. Fund Your Account
The second step is about the technical parts of the process. Here, you need to create an account; verify your identification, and finally fund your account in order to be able to trade Shiba Inu.
3. Find a Trading Strategy That Works For You
Before starting the trading process, it would be better to find a trading strategy that matches your personality. You can find lots of trading strategies on the Internet, explore them and choose whatever you find most suitable for you. You can select an active or a passive strategy - Active trading, for example, include day trading, scalping, swing trading, trend trading, etc. The "Buy and hold" strategy is one of the passive investment strategies.
Crucially, here you must understand that the main difference between passive and active trading is that in the case of active trading, you need to actively follow the crypto market's changes, news, crypto prices, etc. However, for passive trading, you don't have to spend too much time on such things. But, the mechanism in both cases is the same - you buy and sell crypto to make some profit from its price fluctuations.
Take note that some platforms also provide a demonstration account to help you get familiar with the platform and to test different trading strategies before risking real capital.
4. Start Trading Shiba Inu Coin
That's it, when you have a verified account and a trading strategy, you can start trading the Shiba Inu coin. However, if you cannot make a final decision about investing or not, here is some more information about Shiba Inu to help you get more decisive in your investment decision.
Shiba Inu Advantages and Disadvantages
Here are some advantages and disadvantages about Shiba Inu that will help you better understand whether or not you should buy it.
Advantages of Shiba:
- It’s a good speculative asset for beginners
- Has gained massive interest in a short time
- Its' price is very cheap
- Meme coins are becoming popular in the crypto market.
- Meme coins are promoted by celebrities, entrepreneurs, etc.
Disadvantages of Shiba:
- Many think it’s a bubble that will burst in the near future.
- It has quite a famous rival in the market - Dogecoin.
- Crypto analysts don’t consider it a good long-term investment.
Shiba Price Prediction
According to the Shiba price prediction offered by WalletI Investor, Shiba is set to rise to $0.000022 by the end of 2021, $0.000035 in 2022, to soar all the way to $0.000075 by December 2025.
Based on Shiba projections from CoinLiker, the SHIB coin price is expected to rise significantly in the coming years, trading at $0.000023 in 2021, $0.000032 in 2023 and $0.000054 in 2025.
Digital Coin Price is also very bullish in Shiba INU price predictions. According to them, Shiba prices will double in the next year, reaching $0.000026 in 2024, and hit above $0.00004 only in 2028.
And now for Shiba price prediction. We analyze all the information from the top SHIB price forecasters and put together what are the most likely prices we could see in the next 10 years.
Shiba (SHIB) Price Prediction for 2021
Shiba price is expected to trade with bullish momentum and head towards $0.0000120 towards the end of 2021. As per the Shiba price prediction 2021, the price of Shiba (SHIB) might trade above $0.0000121 by the end of year. The predicted high for 2021 might be around $0.000014, and on the downside, the low might be around $0.00000815.
Shiba (SHIB) Price Prediction for 2022
In 2022 Shiba could potentially retest its all-time high and break past $0.00003443 and then progress above it towards $0.00004295.
As per Shiba price predictions for 2022, the SHIB price is predicted to cross $0.00004533 by the end of 2022. The predicted high for 2022 might be around $0.00004723 and on the downside, the low might be around $0.00003223.
Shiba (SHIB) Price Prediction for 2023
As per experts the price prediction of Shiba (SHIB) might continue the gradual upward trend. And as per our data, by the end of 2023, it would be able to cross the $0.0000500 mark. The predicted high for 2023 might be more than $0.0000512, and on the downside, the low might be around $0.0000478.
Shiba (SHIB) Price Prediction for 2024
As per the Shiba price prediction for 2024, the price might reach $0.00006007 by the very end of 2024. As per our predicition and price forecast, the predicted high for 2024 might be around $0.00006156, and on the downside, the low might be around $0.00005860.
Shiba (SHIB) Price Prediction for 2025
As per our Shiba price prediction 2025, the coin might be able to touch the $0.0000700 price mark on the upside, while on the downside, it might fall up to $0.00006354. As per our SHIB price prediction and forecast update, the currency price might trade around $0.00006986 by the end of 2025.
Shiba (SHIB) Price Prediction for 2027
The top price predictions for Shiba in 2027 foresee SHIB dominating above $0.00008297 for most of the year. If the coin does well, experts seem to suggest that a push to $0.0000900 could be possible.
Shiba (SHIB) Price Prediction for 2030
As per our Shiba price prediction 2030, the coin might be able to touch the $0.000100 price mark on the upside, while on the downside, it might fall up to $0.0000937. As per our SHIB price prediction and forecast update, the currency price might trade around $0.0001250 by the end of 2030.
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What is the Total Supply of Shiba Inu?
According to Coin Market Cap, as of May 25, 2021, there are approximately 400 trillion Shiba tokens in circulation with a market capitalization of about $4.3 billion. The maximum number of Shiba tokens that can ever exist in the future is 1 quadrillion (1,000,000,000,000,000), which means that almost half of the tokens are already in circulation.
Things to Consider Before You Invest in Shiba Inu in the US
In conclusion, Shiba Inu is among the meme coins that gained lots of interest recently. Launched in 2020, the Shiba Inu cryptocurrency project became popular in a short time, and is, in fact, one of the top-performing in the world in 2021. In general, the coin has a value as you can use on crypto exchanges, however, the project does not set any serious ideas or objectives that can bring revolutionary changes to the crypto market. This is why it's not considered a good long-term investment.
That said, the crypto market is another story. Looking ahead, Shiba prices are actually expected to rise in the near future, largely due to the fact that there's a huge hype around Shiba right now, especially on social media networks like Reddit. However, we should mention that Shiba Inu is considered a speculative asset, so you need to think carefully before investing in it.
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