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On May 12, Buterin announced that he sold $1 billion worth of SHIB tokens for charity. The problem with Buterin’s large SHIB ownership is that if he decides to sell his tokens, SHIB’s price will experience a severe plummet - and that's exactly what happened. Benzinga, however, believes Shiba’s team gifted Buterin the coins to make SHIB more scarce. You're probably wondering, "Why the hell would they do that?" The motive behind gifting Buterin Shiba tokens was not mentioned in the woofpaper, but according to Celebrity Net Worth, it was likely a publicity stunt. Interestingly, the woofpaper revealed that 50% of SHIB’s token supply was sent to Vitalik Buterin's wallet (Buterin is Ethereum’s founder). The woofpaper also delves into why SHIB runs on Ethereum, explaining that it is a secure, well-established blockchain that lets SHIB remain independent of moderating forces. "A community-run token is nothing without the united individuals who give it purpose." "We believe through the power of collective decentralization, we can build something stronger than a centralized team could create," SHIB's founder Ryoshi (psuedonym) said. banks and governmental bodies) from monopolizing control. Decentralization prevents authoritative institutions (e.g. If you’re in it for the long run, you may want to consider simply holding onto your Ether tokens.How to buy Shiba Inu coin (Image credit: )Īfter perusing through Shiba Inu coin's 22-page white paper (the pun-loving author calls it a "woofpaper"), the meme token's main mission is to preserve one of the main tenets of cryptocurrency: decentralization. Once your wallet is connected to Uniswap’s website, you can swap your Ethereum tokens for Shiba Inu tokens. Instead, Uniswap uses liquidity pools to calculate the price of crypto assets. Uniswap doesn’t use order books like other exchanges. Market orders allow you to execute trades with precision, if you know what you're doing.
Spreading out market orders at multiple price levels typically prevents a trader from going all in at the beginning of a dip. A limit order lets you set the price you're willing to pay per token, then it will execute if and when that price is reached. If you can afford to wait a little bit, you may opt to place a limit order. The fastest type of order is a market order – this will execute immediately at the current price. There are a few types of orders you can place depending on how much patience you have. Once this is done, find the SHIB/USD order book and place your order. If you want to buy SHIB with fiat on Robinhood, connect your bank account after verifying your identity. Hardware wallets are physical devices that store your cryptocurrency offline, making it impossible for your funds to be hacked. If you want to store your cryptocurrency assets in the most secure way possible, then you should opt for a hardware wallet.
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Also, you’ll need a software wallet to interact with Uniswap, a great option is the Exodus Wallet.
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Software wallets are free to download, and they give you much better protection than crypto exchanges. Cryptocurrency exchanges are large targets for hackers, and several platforms have been hacked in the past. Unless you’re actively trading your crypto, it’s not recommended to store your tokens on an exchange. The SEC has been cracking down lately, and some exchanges are getting a step ahead by requiring additional steps.īefore you get yourself some Shiba Inu tokens with Robinhood, you should consider where you’ll be storing your precious asset.
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This means you'll want to have your social security number, drivers license and potentially even proof of income handy.
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If you're a US resident you'll need to provide identity verification in-line with the SEC's Know Your Customer (KYC) guidelines. eToro has a built-in Copy Trading feature that allows you to automatically trade a position. For more intermediate traders, a platform like eToro which offers SHIB may be a better choice. For beginners, Uphold provides access to Shiba Inu (SHIB) and has a great user interface and wallet counterpart. Two of the best exchanges that offer Shiba Inu are Uphold and eToro. Robinhood is still mostly a stock and options trading app with a little crypto trading thrown in. Robinhood isn't exactly the best trading platform for crypto trading as it lacks a ton of features and is quite bare bones. If you are wondering if there are any better options, there likely are. Before you can buy Shiba Inu on Robinhood you will need to make an account if you don't already have one.
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