Cryptocurrencies are rapidly becoming the latest trend in trading and investments. Amid the many digital coins is the Shib (Shiba Inu) that has skyrocketed blockchain investments. Do you want to make money with this coin? This article features everything you need to know about the Shib coin.
Table of Contents
What is the Shib coin?
The Shib coin is commonly used to refer to the Shiba Inu Coin that originated from a mockery meme describing a dog. Dogecoin, an almost impossible cryptocurrency, sparked its inspiration. Most Chinese merchants and blockchain investors embrace its use.
Its hype has seen countless Shib coins in the cryptocurrency market. The currency has done well compared to its competitors, with a market cap of 3.6 billion dollars. Some investors attribute its rapid growth to its value that is way below half a dollar – you can trade it at $0.00000967. Is this a good investment for you? Find out.
This coin functions like other well-established cryptocurrencies on the blockchain market. Investors of this token can execute safe transactions because it has decentralized software. You will receive proof of work after transacting using this crypto coin.
Why you should use the Shiba Inu Coin
The Shib coin won’t be saturating the crypto ecosystem if it isn’t beneficial. This coin appears among the top 20 currencies in the crypto market. Some of the benefits of using this crypto include:
- Hype from influencers
The Shib coin has the backing of celebrities and influencers. This is because it has a peer-to-peer mechanism. Many people are talking about this coin and keep attracting an online community, especially on Twitter and Reddit. The available resources on how to invest in Shib compels prospects to invest in this crypto.
- You can easily acquire it
The Shib coin is cheap and easy to purchase; it costs as low as $0.0000967. If you are considering earning a lot more in the future by HODLing your coins, this investment would be worth every penny.
- It has been here for a while
Since its launch, the Shib coin has attracted insanely investors. Most cryptocurrencies struggle to cut through the blockchain. Since Shib’s idea went viral, millions of tokens have been purchased.
- Trade without additional fees
Unlike other cryptocurrencies, this coin allows traders to transact without incurring additional costs – the Shib price for transactions is nothing compared to competitors. You can acquire these tokens at no cost, as well. All you need is to sign up, verify your registration, and start investing.
How to make money with Shib
You can earn money if you invest this coin by doing either of the following:
- Trading: you can exchange Shib coins on exchange wallets. You could also convert LTC to BTC on such networks.
- Invest and HODL your tokens: Most cryptos allow traders to buy tokens earned by trading. But HODLing (stocking your coins for some time) earns way more than instant trading. If you are looking for a way to accumulate interest, this is the way to go.
Conclusion
Crypto investments are a broad topic that requires thorough research before venturing in. The Shib coin is no exception – there is a lot more to do, especially if you are not an expert. Nonetheless, it is an excellent way of making money – you could earn more bucks like you’ve heard or seen with other cryptos like Dogecoin.