What is Shiba Inu (SHIB)?
Shiba Inu (SHIB) is an ERC-20 token that was designed to be an Ethereum-based competitor to Dogecoin. Its unique traits include a low per-unit price and high circulating supply. SHIB is also the native token for the ShibaSwap decentralized exchange. A major difference from other currencies is that while Bitcoin or Ethereum network-based currencies were designed to be scarce, SHIB is positioned as intentionally abundant. You can buy and sell SHIB for any major cryptocurrency, like BTC, ETH, and XRP or traditional currency such as Canadian Dollar, US Dollar, and Euro. Trading cryptocurrencies is like foreign exchange of traditional currencies – you trade SHIB for BTC the same way you trade CAD for USD. You can also trade SHIB to CAD based on the SHIB price. To learn how to buy Shiba Inu / SHIB, scroll down to see how to buy Shiba Inu.
How to buy Shiba Inu (SHIB)?
Here's how to buy Shiba Inu on Coinsquare
To buy Shiba Inu, simply follow these steps:
1. Sign up for a Coinsquare account and verify your identity
This is the first step to buying SHIB. Verifying your identity helps us to properly connect your funds to your account.
2. Fund your account with Canadian Dollars
Funding is like putting gas into a car – it helps you get where you want to go.
3. After funding, select SHIB from the list on the trade section
Coinsquare lets you trade SHIB without leaving the app. You can also check the Shiba Inu price and convert SHIB to CAD or USD on the platform.
4. Select a currency you’ve funded and use it to check the SHIB price
In the Coinsquare app, all currencies available to trade can be found in the drop down list.
5. Buy Shiba Inu (SHIB)
Congratulations! You’re now the proud owner of SHIB. You can either HODL or use it to exchange SHIB to CAD or any other cryptocurrency listed on Coinsquare.
Where do I keep my Shiba Inu (SHIB)?
At Coinsquare, we offer customers the power of easy transactions and cold storage security. Client assets are securely stored 1 to 1 in cold storage with approved custodians, kept separate from operational funds, and never utilized for lending purposes.
All client assets are held in trust with external, licensed custodians with a combined $680M USD in insurance. Additionally, CCML maintains Vault Risk insurance beyond those of its custodians that cover risks related to the cold storage of its clients’ crypto assets. And the cash held in your account is insured against insolvency by the Canadian Investment Protection Fund (CIPF). This means that in the unlikely event that Coinsquare (CCML) becomes insolvent, CIPF will cover any shortfall of cash held in client accounts up to $1 million CAD per account.
Ready to add Shiba Inu (SHIB) to your portfolio?
Create your account, fund it with spare change and get a little bit of SHIB.
