Shiba Inu Coinbase: Everything You Need to Know About This Collaboration

Cryptocurrency

Shiba Inu Coinbase: Everything You Need to Know About This Collaboration

Last Update: 2022-03-28

Shiba Inu Coinbase: Everything You Need to Know About This Collaboration

If you're a fan of Shiba Inu’s, then you'll be excited to hear about the recent collaboration between Coinbase and Shiba Inu. The announcement sent shockwaves through the cryptocurrency community, as it was not expected that such a large exchange would list a meme coin. Nevertheless, the move by Coinbase could be a sign that they are willing to list more alternative coins on their platform. 

If you're interested in learning more about this exciting new Shiba Inu Coinbase collaboration, or in purchasing some Shiba Inu tokens, be sure to check out this blog post till the end.

What is Shiba Inu?

Shiba Inu is a cryptocurrency that was created in August 2020. It was created as a fork of the popular Dogecoin cryptocurrency. Shiba Inu coin (SHIB) has recently been listed on Coinbase, one of the most popular cryptocurrency exchanges. This has caused quite a stir in the crypto community, with some people hailing it as a great development that will bring more mainstream attention to SHIB and other "meme coins", while others are worried that it may lead to speculation and price manipulation. Shiba Inu has a total supply of 1,000,000,000,000 coins and a circulating supply of 10,000,000,000 coins. 

The coin has a market capitalization of $6,727,818 USD and is currently ranked at #110 on CoinMarketCap.com. Shiba Inu is traded on several popular cryptocurrency exchanges, including Binance and KuCoin. Factors that have influenced SHIB's price include the overall market conditions for cryptocurrencies, as well as news and events related to the coin itself. In general, SHIB has been volatile but has trended upwards over time.

Although there have been some bumps along the road, Shiba Inu Cryptocurrency has continued to grow and evolve. The team behind the project has consistently worked to improve the technology and make it more user-friendly. As the project continues to gain traction, there is a good chance that it will become even more widely used in the future.

Data Value
Market Cap $ 11,073,051,482
Circulating Supply 549,148,808,970,019 SHIB
Trading Volume $ 2,018,989,443
All-time high $0.00008616
All-time low $0.000000000056
Shiba Inu ROI +3008636.72%

When did Shiba Inu Coin Get Listed on Coinbase?

SHIB was listed on the Coinbase platform on Sep 16, 2021. This was a major milestone for SHIB and the crypto community as a whole. The listing on Coinbase helped to legitimize SHIB and increase awareness of the project. It also helped to solidify SHIB's position as one of the top blockchain projects in the world. SHIB is now available to be bought and sold on the Coinbase platform. This will help to increase the liquidity of SHIB and make it more accessible to potential investors.

Effect On SHIB Price After Being Listing on Coinbase

The Shiba Inu coin has been on a tear since it launched last year, and now with the addition of one more exchange users can trade their tokens at Coinbase - things are looking good for this furry crypto enthusiast. The Mint reported that the coin jumped by 35% in value after it was added to Coinbase.

The cryptocurrency Shiba Inu coin has been added to Coinbase, allowing users on both websites and mobile apps to trade this new form of money for Bitcoin. The Deseret News reported that the Shiba Inu coin has been added to Coinbase Pro, an additional trading platform for professionals. 

Investors were excited when they heard that the Shiba Inu coin would be added to Coinbase. The anticipation of an increase in value is driven largely by social media attention, as the majority of its worth comes from the hype surrounding its online communities and message boards- which increases traffic for those who want info on new coins like this one.

How To Buy Shiba Inu Coin on Coinbase?

Coinbase is a popular platform for buying and selling cryptocurrencies. Unfortunately, it's not available in all countries yet - but luckily there are other ways to get your hands on some SHIB. With the Coinbase app, you can shop at any time or place that has mobile payments enabled (so pretty much everywhere). Here’s how:

1. Setup Coinbase account

Coinbase makes it easy to get started by providing a mobile app that automates the entire process. After downloading and installing, you’re only required of having an ID in order to sign up for accounts on their site or via social media networks like Facebook with just one click.

It may take longer than just minutes if living outside of America. Depending on where in the world this person lives there could be additional verification procedures before being allowed access. Further verification involves providing more information such as utility bills/mortgage statements etc.

2. Choose a payment method

To complete the payment process, tap on “Payment Methods” and connect a bank account or debit card. You can also choose wire transfer if it is available in your country's currency preference (which may not necessarily match up).

3. Start a Trade

To make a purchase, select "Buy" from the list of options.

4. Pick SHIB from the list

The search for Shiba Inu begins by typing "Shiba Inu" into the bar at top of this screen. When you see their name show up, tap it to go straight over there and make your purchase.

5. Enter the desired amount

The app will show you how much the purchase is in local currency and automatically convert it for easier math.

6. Make Your Purchase

Now that you’ve reviewed your purchase, there are just a few more steps to go. Atoms of SHIBA INU will be heading into the Channel soon. Once everything looks good and confirmed, click “Buy Now". That's it, you've bought Shiba Inu.

How to Buy Shiba Inu on Coinbase Pro?

  1. To start, you will need to log into your Coinbase Pro account.
  2. Click on the Deposit button at the top right corner of your portfolio page and sign in with Facebook or Google+. Navigate to "Portfolios" then click on “Deposit” located near-the corner.
  3. To exchange your money, click on the USD option and then enter how much you want to spend.
  4. You can fund your account using two options: bank transfer or wire request (there's an additional $10 fee for wires). For this guide, we'll set up an account using bank transfer funding so that all your funds are stored locally on their platform instead.
  5. How many shares of SHIB do you want to buy? Just enter the amount, then click withdraw.
  6. When you're ready to start trading, click "Trade" and select the market that works best for your needs. Clicking on SHIB-USD will take us straight there.
  7. Double-check that you have selected the "Buy" button under 'Order Form.'
  8. Clicking on the "Place Buy Order" button will allow you to place a large order for SHIB at an exchange. 

Cryptocurrencies are risky investments, so don't invest more than you can afford to lose. Take risks responsibly and always be prepared for the worst.

How To Buy Mega Shiba Inu on Coinbase?

You can purchase Mega Shiba Inu with Ethereum (ETH) on decentralized exchanges, but you must first have the funds in Coinbase Wallet. Here's how to do that using US residents' accounts:

1. Download the Coinbase wallet

The Coinbase Wallet is a must-have for those who are interested in adding the Mega Shiba Inu to their cryptocurrency portfolio. This app can be downloaded onto your phone or computer and comes with browser extensions so you'll never have any problem paying invoices from this new coin on time.

2. Choose a unique username

Coinbase has a variety of options for users to choose from when it comes time to sign up with their wallets. You can either go by an anonymous name or use your legal first and last names, but in order to access features on the site like trading internationally (which requires additional verification), you'll need one specific user ID that's not linked back specifically to yourself.

3. Setup recovery phrase

Creating a self-custody wallet is exciting, but it's also important to be mindful of security. When you create your new cryptocurrency custody keys (a set of 12 random words), make sure that these are never shared with anyone else.

Coinbase is a great way to keep your cryptocurrency safe. We recommend writing these passwords and phrases down, as well as using the cloud backup feature on their wallet app. Don't share any of this information with anyone else either. The company will never ask you for it (and if they do somehow manage to get hold of what's written down then there isn’t much we can do).

4. Plan for Ethereum network fees

Always keep in mind that the fees will vary depending on how busy your network is, what kind of transaction you want to complete and how quickly. You should also plan for any additional expenses associated with these transactions so as not to have them bite into all available funds when they shouldn't.

5. Buy and transfer ETH to Coinbase wallet

If you want to buy Ethereum, first head over to Coinbase and create an account. Then choose whether your purchase will be made with a mobile app or chrome extension from there.

6. Make your purchase

Coinbase allows you to exchange Ethereum for any token that runs on the Ethereum standard (called “ERC-20 tokens”). In order to purchase Mega Shiba Inu, tap Image of Coinbase Wallet App then Trade tab and select ERC 20 compatible coins like MEGA SHIBA INU from top drop-down menu options. Make sure there's enough Ether leftover after conversion so it can be used as transaction fees if necessary. 

To exchange Ethereum for Mega Shiba Inu, tap the “Convert” button in Coinbase Wallet and search for 'Mega'. Input how many ETH tokens you want to send along with enough left over so that there are no transaction fees. Follow instructions on the screen once the purchase is finalized.

How Did SHIB Begin to Catch-on?

Ryoshi’s plan was a success. He sent 50% of the token supply to Ethereum co-creator Vitalik Buterin's wallet and used this opportunity for liquidity on Uniswap’s decentralized exchange, which led him into wider circulation.

But why did it do so?

  • Ryoshi's hope was that by aligning himself with a major holder in the crypto community he could benefit from their credibility and popularity. However, as it turned out this wasn't enough to keep SHIBA afloat during such rapid inflation. This would eventually lead him down an unfortunate path where everyone else joined forces against VB instead.
  • Knowing that the value of SHIB had been soar during summer 2020 when meme coins were at their peak popularity and volatility in trading prices reached new heights every day; Vitalik began liquidating some funds from his own personal collection by donating $1 billion worth towards India Covid Crypto Relief Fund.
  • Vitalik “burned” another 410 trillion SHIB tokens (40% of the total supply) after donating them to a good cause. This gesture may have been intended as some form of thanks from him. Though it's possible he also did so out reflexively because donors are typically prohibited from selling their donations on exchanges. But either way, we should all take note.

How Shiba Inu Is Different Than Dogecoin?

Unlike Dogecoin, which is limited to transactions within the crypto sector and does not have any plans for expansion outside of it; Shiba’s can trade their cryptocurrency without an intermediary. They also plan on releasing a platform called ShibaSwap that will allow users both inside and outsides this community to exchange different tokens back-and-forth among each other seamlessly.

Transfer SHIB from Coinbase Wallet to Coinbase Account

Linking your Coinbase account and wallet is a great way to transfer cryptocurrency between them, but make sure you understand the fees before doing so. You may be charged either a miner’s fee or simply transaction charges in literal terms.

The process of transferring Shiba Inu from your Coinbase wallet to an account can be a little tricky, but don’t worry. Follow these easy steps:

  • To start, open up the Coinbase mobile wallet on your phone.
  • You can find your settings by navigating to the menu bar at the top right corner of this screen, then clicking on "Settings."
  • Select "Buy" or transfer to another store if needed.
  • Select the crypto you want to transfer. In this case, Shiba Inu.
  • To make a transfer, enter the amount to be transferred and then click on Continue.
  • Finally, you can finish your transfer by completing the remaining procedures.

If you want to send money from Coinbase, make sure that the amount available in your account is greater than what's being requested. You can only transfer amounts over which there are no restrictions on transferring rights within Coinbase itself. 

Make sure you transfer your Shiba Inu coins from Coinbase to the wallet of your choice before they expire. To manage your crypto assets, you can transfer them manually between the Coinbase account and a private wallet that resides on either platform.

How Is the Shiba Inu Network Secured?

SHIB is a new breed of cryptocurrency that's taking the world by storm. This 22-page long paper describing its design and functions was published on Ethereum’s blockchain, but now it has been transitioning over to Proof Of Stake (POS).

Ryoshi, the creator of Shiba Inu announced in his final blog post to date that he would be developing a new layer-two solution for this cryptocurrency. His plan is called "Shibarium" and it will use BONE as its primary pair token.

The Shiba Inu Discord server has been abuzz with activity as developers work on the next project from Shibarium. According to Eric M, a very competent blockchain team is behind this upcoming cryptocurrency that will launch "soon" without providing any further details about its release date or specifications.

FAQs

Does Coinbase Wallet Support Shiba Inu?

Shiba Inu is now available for trading on Coinbase. You can deposit and withdraw funds from your account, as well as buy or sell Shibe at the current rate. To get started all you need to do is head over there first and look out the left sidebar where it says "Trading" then find 'Shibas' under the section of the market near the bottom.

Does Shiba Inu coin get burned?

Yes, it is possible that around 41% of the total supply has been burnt. This means those coins are no longer in circulation and cannot be used by anyone else to create new ones.

Who created SHIB?

The anonymous developer Ryoshi launched the project SHIB with a total supply of one quadrillion tokens. This truly vast number has since grown to almost unimaginable proportions, and it's only going up from here.

Conclusion

So, there you have it! Everything you need to know about the Shiba Inu Coinbase collaboration. We hope this gives you a better understanding of what this project is all about and how it could potentially benefit both investors and the cryptocurrency community as a whole. This collaboration provides an easy way for newcomers to get started in the world of cryptocurrencies, and it also gives experienced users a chance to earn additional rewards. Overall, this collaboration is a great way for people to get involved in the growing world of cryptocurrencies.

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