Shiba Inu Token- Memes Token
Shiba Inu also known as Shiba Token (SHIB) is a decentralized cryptocurrency created in August 2020 by an anonymous person known as "Ryoshi". Shiba Inu is an ERC-20 token on the Ethereum blockchain and is based on Dogecoin. It brands itself as the Dogecoin killer. It uses Shiba Inu dog as the logo.
Shiba Inu does not have any smart contract utility, not is backed by any asset or rights, it is simply a transferable token. The Shiba Inu developers are currently creating Shiba Swap a decentralized exchange that provides holders of Shiba Inu and its sister token Leash, the opportunity to earn rewards such as Bone, Ethereum, and Bitcoin through staking or providing liquidity.
For example, if you provide ETH and USDC liquidity to the ETH — USDC Uniswap pool, you will receive an equivalent amount of LP tokens. The main takeaway here is that these LP tokens represent the ETH and USDC you locked in the Uniswap pool. Each LP token type is fungible, ie, identical, and can easily be traded with other users.
By incentivizing Uniswap and Sushiswap LPS to move their LP tokens to Shiba swap, İt becomes possible to do something called a vampire attack, wherein all the liquidity on a DEX is swapped to another.
Vitalik Buterin-co-founder of Ethereum has utilized SHIB in the largest crypto donation in history to help reverse the devastating spread of Covid-19 in India. Memecoins or meme currency like this SHIB is new to the crypto space, not backed by assets or a verifiable team and is very risky and volatile.
We recommend avoiding any coins which do not comply to the 4-step COIN protocol.
SHIB's appeal comes from the desire for passive income from staking. But it is important to remember that cryptocurrencies themselves are a risky asset class. You can buy SHIB at several exchanges below:
1. Binance Exchange - you can purchase FIL on Binance using your mobile phone or desktop. You only need to follow the step as instructed. You can also receive a 25% discount on trading fees using Binance Coin (BNB) instead of cash. Use the link above for a bonus 10% discount
2. Crypto.com MCO/CRO - this is a favorite for many reasons, as you can earn interest on a wide variety of coins, as well as apply for a crypto debit card. This operates similar to a pre-paid Visa card, where you top up before use, however, you can choose to top up with cash or crypto. For example, you can transfer Bitcoin (BTC) to the card and spend it like cash, or let it sit in the account and earn interest. Rates of interest on deposits vary from 2% up to 10% or more. New investors may receive up to $50 when using the above link to create a new account.
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