What is Shiba Inu (SHIB)?

Over the past few years, cryptocurrency has been stealing more and more article and news headlines and is a hot topic of discussion. What was once popular only in the scientific community is now popular everywhere. Cryptocurrencies are now the new frontier for investment, and even Wall Street is starting to take notice. Some cryptocurrencies, along with fiat and electronic money, have become a full-fledged means of payment in some countries, and people are constantly talking about the next great ICOs (Initial coin offering), investing in blockchain technology and adding cryptocurrencies to their portfolios. For example, now, many have started investing in Shiba and other currencies for a long or short term to diversify their risks.

Cryptocurrency is a digital virtual currency. Banks are not involved in conducting and verifying its transactions. It is protected by cryptography, so it is almost impossible to tamper with it.

Choosing a cryptocurrency
Choosing a cryptocurrency

Cryptocurrency differs from regular currency in that it is not issued through any central authority, and this makes it immune to regulation and interference from any state. Much of the interest in these unregulated currencies is in trading for profit.

Where do Shiba come from?

Shiba inu (SHIB) is a token that has grown in popularity largely due to its unique ecosystem, appearance, as well as speculation on its price by retail investors and the active participation of the coin community.

The project was created in 2020. Its creators are a group of anonymous developers led by a trader with the nickname RYOSHI. The digital asset was inspired by the Japanese dog breed of the same name, which sparked a viral meme trend in 2013 and subsequently led to the creation of another well-known cryptocurrency Dogecoin (DOGE).

Unlike most other meme coins, Shiba Inu offers significantly more value in the form of its own peer-to-peer crypto exchange called ShibaSwap.

What makes Shiba Inu unique?

At the end of January, it was possible to buy SHIB at a price of only $0.0000000014. This is millions of times cheaper than even the cheapest currency in the world - the Vietnamese dong. With just 1 Satoshi, you could purchase over 400,000 SHIB tokens.

The reason for such popularity and rapid growth was the hype around the Dogecoin cryptocurrency, which was actively promoted at that time, as a result of which the DOGE rate grew by more than 1000% in just two months.

In the wake of the hype, investors began to look for more attractive assets with the names of animals and began to actively buy them, because of which their price rose greatly. So, the SHIBA token grew by 2000% in just 4 days, hitting the top 15 cryptocurrencies in terms of capitalization.

The value of the Shiba token is determined by the community: if the community grows, the price of the token will also grow.

How to Buy Shiba Inu?

Cryptocurrency is a risky way to make money. However, in skillful hands, a large amount of money can be made with cryptocurrency.

There are many different ways how you can make money with cryptocurrency. From the simplest methods: bought at a cheaper price - sold at a higher price, to the most difficult ones: mining and so on.

Where to buy Shiba?

The most understandable way to make money on cryptocurrency is trading. It consists in buying a particular cryptocurrency at a lower cost and selling at a higher one. The difference is your profit. I would also like to note that trading is all about short and quick purchases. Bought quickly, sold quickly, made a profit.

Popular cryptocurrency
Popular cryptocurrency

You can trade on a digital currency exchange or on a broker's platform. The difference is that on the exchange you buy the asset itself, and you are interested in its growth. With a broker, you can trade CFDs on their platform without buying an asset, and you can make money both on the rise and fall of the rate.

Try the platform for free using a demo account to trade.

Also, the advantages of the platform include the fact that it offers not only a professional terminal for trading, but also a lot of options useful for a trader that will help in your trading and take you to a new level, offering new knowledge and tools. Here are some of these options:

  • Video instructions and training on the platform.
  • Analytics in the form of all kinds of charts and indicators for trading that traders around the world use to improve their trading results and predict the direction of the trend.
  • Minimum threshold for making a deal- only from $1.
  • Function of pending orders, stop-loss and take-profit. If stop loss limits the amount of losses, then take profit is the amount of profit.
  • Chats with traders.
  • Huge selection of assets, you can trade hundreds of assets like stocks, commodities, options, etc.
Take a video tutorial on the platform
Take a video tutorial on the platform

What is CFD?

Cryptocurrency CFDs are a standard CFD contract where digital currencies are the underlying asset. CFDs are negotiated between two counterparties - an investor and a broker. The contract provides for the payment (in cash) of one party to the other based on the difference in the price movement of the underlying asset from entry to exit from the contract.

CFDs are very popular due to their wide availability, better return on fruitful speculation, low investment minimums and high leverage opportunities.

Stop loss and take profit functions for your convenience
Stop loss and take profit functions for your convenience

How to Invest in Shiba?

The coin-meme has both its supporters and those who still believe that this is just a joke and does not represent anything of itself. But more and more investors and traders are eager to buy Shiba Inu. In the long term, this investment can be very worthwhile. Now you can buy Shiba in South Africa for a penny, then it can grow many times over, bringing huge profits to the token holders. But no one can give a 100% guarantee that this can be so, because any investment has a share of risk.

To invest in Shiba in South Africa you need to choose an exchange, a great option is the Binance exchange. It has a large selection of trading pairs (more than 200), a user-friendly and intuitive interface, and most importantly security and reliability, which users value very much.

After buying coins on the exchange, you can transfer them to your crypto wallet, this is necessary for your convenience and safety, but many traders leave their coins. On the account on the exchange.

Since cryptocurrencies do not exist in physical form, the wallet is the main means for the user to interact with the blockchain to conduct transactions with cryptoassets.

How to start investing in Shiba Inu (SHIB) in South Africa? 

To start making money on cryptocurrency, you need a good and reliable brokerage platform. A good platform will be immediately visible, it has the following advantages:

  • Broker has been in the financial market for many years.
  • Positive feedback about the site on independent web resources.
  • Platform popularity.
  • Number of awards.
  • Minimum deposit.
  • Convenience for the beginner.
  • A large number of trading instruments.
  • Wide functionality and convenience of charts.
  • Trading training.
  • Quality of technical support.
Registration of the platform
Registration of the platform

Once you find a suitable platform, register to be able to buy Shiba or another asset. Registration is free and will allow you to get familiar with the platform. Just enter the required data set in the field during registration and wait for the system's response to complete the registration.

Demo account

After registration is complete, you can start working with a demo account. This is a virtual account that will allow you to trade with play money. A large amount will be credited to your account, but it will be virtual money, you will not be able to withdraw it. You should also understand that you will not be able to withdraw profit from such an account. This is only needed for learning and getting to know the platform. However, this is a great tool for a beginner as you can buy Shiba Inu in South Africa or other assets without spending your money and practice trading.

How to open a demo or a real account
How to open a demo or a real account

Real account

After you get comfortable with the platform, you can safely open a real account, because this does not require a lot of capital. As a rule, the minimum first deposit for registering a brokerage account is about $10. More precisely, you can clarify when registering.

Deposit replenishment
Deposit replenishment

To replenish your account, go to your personal account, select the "replenish account" menu, then choose a convenient method of replenishment, for example a card and enter its details into the system, after the money is credited to the account, you can start trading.

CFDs offer a number of advantages over other alternatives, including leveraged lending, which has the potential to generate high returns with minimal cost, round-the-clock trading possible, and easy and hassle-free market access.

When trading CFDs, you do not buy (or sell) the underlying asset, but instead open a “long” (“buy”) or “short” (“sell”) position at the spot price of that asset. Explore this tool in more detail! Good luck trading!

Standart Bank
The financial services provided by this website carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose