What is Shiba Inu?
Shiba Inu, also known as Shiba Token, is one of the latest coins to the crypto family. It is a decentralized cryptocurrency created in August 2020 by an anonymous creator known as “Ryoshi”. It’s widely known as an Ethereum-based alternative to Dogecoin and serves as part of the ShibaSwap crypto ecosystem together with the LEASH and BONE tokens. It’s important to mention that there is a significant difference between the essential nature of Bitcoin and the one of Shiba, while Bitcoin is famous for its scarcity and continuous decrease of its amount available, Shiba is the exact opposite with a current circulation of one quadrillion coins.
The Shiba Inu Token’s name is dedicated to the famous Japanese dog breed. As such, the Shiba team has founded a non-profit organization called “Shiba Inu Rescue Association” in order to support the dog breed Shiba Inu care by creating shelters and providing homes.
How does Shiba work?
The Shiba Token is an ERC-20 token based on Ethereum, which is the equivalent of Dogecoin’s Crypt-based mining algorithm. It’s important to mention that the Shiba Inu Token is compatible with the entire Ethereum ecosystem. By using Shiba Inu Token, users can easily and safely buy, trade, and store assets without using an intermediary.
What can I do with Shiba?
You can hold on to your Shiba with the expectation of it increasing its value. You can also easily store your Tokens safely on your account or in your crypto wallet.
You can trade Shiba for other cryptocurrencies – this gives the users many opportunities in their crypto journey to experience different types of assets.
Like many other cryptocurrencies, you can easily send it to anyone and anywhere by using their Shiba address. The process is fast, secure, and it doesn’t need any additional intermediaries.
Benefits of using Shiba Inu as an investment asset
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