What is Shiba Inu (SHIB)?

What is cryptocurrency in simplified language? This is the name of one of the varieties of electronic money, more precisely, means of payment. Generally speaking, this is a mathematical code, and it is different for each coin. And this money got its name because cryptographic elements are used to create it.

Many people, having first become acquainted with digital assets, ask themselves the question: is it possible to increase their capital with the help of cryptocurrencies? Experts will answer - of course it is possible, and now in the age of digital technologies, absolutely every person, regardless of profession and social status, can somehow try to make money. Mining, staking, trading and other methods are on the market. You can choose any, it all depends on your knowledge and capital.

Choosing a cryptocurrency
Choosing a cryptocurrency

SHIB cryptocurrency is a token of the Shiba Inu ecosystem. SHIBA is called the "little brother of dogecoin" but, in fact, it is one of the ERC-20 tokens. When the dogi joke went too far, and the first dog coin approached BTC and ETH in terms of capitalization, it had many imitators. Shiba has always stood out from the crowd thanks to its aggressive marketing campaign and the backing of major market players. After the Binance exchange added to the list of supported tokens, and even for several pairs at once, it was obvious that this project was simply doomed to success.

Users can store millions, billions and even trillions of SHIBs in their wallets.

Where do Shiba come from?

It was originally created for the purpose of an experiment, the essence of which was the complete transfer of control to a decentralized community. And we can say that the experience was a success. The platform provides users with the opportunity to make money on a pool of liquidity and P2P exchange, and thanks to the growing popularity and tempting prospects, the coin has become more and more interesting for large investors. Although, of course, nothing, the project does not bring anything new to the decentralized finance market. The only trump card is the prospect of super-profit, that is, buy SHIBA INU now and wait for the rate to take off.

SHIBA INU cryptocurrency was launched in 2020 by a group of anonymous developers. Its founder publishes posts on social networks under the pseudonym RYOSHI RESEARCH.

Judging by what Reshi says, he is an ordinary crypto trader who has decided to create a decentralized, community-driven ecosystem. Developers do not have any privileges and do not keep a supply of coins.

What makes Shiba Inu unique?

The main goal of SHIB is to provide users with the opportunity to increase their earnings. Buying ERC-20 tokens pays off up to millions of dollars. Any player can own a large fortune by spending a few kopecks. The project tokens are sold at a low price, unlike other promising cryptocurrencies.

The value of tokens depends on the actions of famous persons. Ilon Maxi and Vitalik Buterin made a great contribution. A single phrase or tweet can overwhelm the price or drive the price up.

Shiba Inu is a cryptocurrency that can be profitable in the long term. Now the price per unit of the token is equal to a penny. In the future, a rise in price is possible, which will bring large profits to holders. Nobody can give exact guarantees. Any cryptocurrency is a fraction of the risk. But experienced traders continue to invest in Shiba part of their portfolio because the price is really attractive.

Where to buy Shiba?

No matter how many controversies there are around this currency, many have already decided to invest in Shiba in Malaysia. You can do this for any period, as is the case with any other asset.

If you want to buy Shib on centralized exchanges, you must first register an account, make a deposit in fiat or other cryptocurrency that the SHIB token is traded with, and then exchange your assets for Shiba Inu.

You can try the Binance exchange for this purpose. This is a centralized platform (CEX), which means that the platform is managed by its parent organization, and the site itself acts as an intermediary between traders.

Binance is the world leader in trading volumes for cryptocurrency asset trading platforms.

In other words, you buy an asset with your own money and hold it until the right moment, when you can resell it for a higher price. You may want to hold the asset for several years, or weeks, the choice is yours. You can keep it in your wallet or inside the exchange.

Cryptocurrency trading

In addition to investing, you can of course speculate in the market, which means the same as in Forex. You quickly resell the asset, making a profit on the difference in price. In this case, you also need to hope only for the growth of the asset rate. The term of the contract in this case can be approximately one or several days. Intraday trading is very popular with traders. Since any currency is a volatile asset, the token price can change several times a day. You can track quotes on the stock exchange or broker's platform.

Is Shiba a good investment? Altcoin really has prospects, due to the existing ecosystem, scalability and popularity among users, which is growing, analysts say.

Also, we should expect the growth of tokens due to the popularity of new projects among investors, including institutional ones.

How to buy Shiba (SHIB)?

Also, every trader has the opportunity to make money not only on growth, but also on a fall. You can buy Shiba in Malaysia using a CFD contract. CFD brokers are online platforms that give traders the opportunity to profit from falling or rising prices (for stocks, gold, commodities and other assets) without the need to purchase them. You can choose a suitable company and read information and reviews about it.

Popular cryptocurrency
Popular cryptocurrency

You can try the platform for free right now, just use the demo version! This does not oblige you to anything.

Also, a good platform will offer you many features:

  • Video training on various topics.
  • Lots of assets to speculate. From stocks to cryptocurrencies.
  • Functional mobile app.
  • Minimum first deposit at registration and for making transactions.
  • News and analytics in the form of charts and indicators.
  • Chats with traders.
  • Stop-loss and take-profit functions to help you stop a trade at the right moment, without your involvement etc.
Take a video tutorial on the platform
Take a video tutorial on the platform

How to buy Shiba with CFDs?

CFD or Contracts for Difference (Contract For Difference) is an agreement between the buyer and the seller on the transfer of the difference between the price of an asset (gold, silver, oil, etc.) at the time of purchase (opening a position) and its value at the time of sale (closing a position).

The tool is similar to futures contracts (futures) with two minor differences:

  • CFDs have no expiration date, i.e. an item can be held for an arbitrary period of time, unless otherwise specified by the CFD broker.
  • Acquisition of CFDs does not entitle you to physical possession of the subject of the transaction. In other words, you do not become the owner of the assets that are included in the contract.

It should be noted that CFDs for difference are by far one of the easiest and most profitable ways to try trading.

The main advantages are the instant execution of transactions, the minimum number of commissions and the ability to fully use leverage. CFDs provide higher leverage than traditional trading. In addition, among the advantages of CFD trading, one should highlight a small initial deposit, as well as an unlimited number of short sales.

Stop loss and take profit functions for your convenience
Stop loss and take profit functions for your convenience

How to start investing in Shiba Inu (SHIB) in Malaysia?

So, in order to buy Shiba Inu in Malaysia, you need to decide how much capital you have, how much time you are willing to devote to trading. If you have little capital, you can start trading on the online platform, because there you can make a transaction for only $1.

Registration of the platform
Registration of the platform

To create an account on the platform, you just need to register. Select the registration menu and enter the required data, come up with a strong password and, if necessary, specify the mail to which you have access. It's free and will allow you to be on the platform and learn more about its functionality.

Demo account

A demo account is a trading account where you can trade virtual money. There are many reasons to always have a training demo account at hand. Many novice traders often wonder when to start trading for real money? The answer to this question entirely depends on the accumulated experience in trading. How can you get this experience? The answer is obvious - by trading on a demo account.

How to open a demo or a real account
How to open a demo or a real account

As a common way of encouraging traders to use their services, most brokers offer a free demo account to potential or existing clients. Such accounts allow the trader to experience in practice what it is like to trade without putting their real money at risk.

While using a demo account has numerous benefits for traders, it is worth mentioning that the emotions a trader can get when trading on a demo account can be very different from the experience of real trading. Therefore, do not drag out such a trade and go to the real one.

Real account

Once you are ready to start real trading, deposit funds into your account on the platform using a convenient method. For example, using a map. Just go to your personal account in the account replenishment section and follow the instructions. All transactions are secured, and you don't have to worry about security.

Deposit replenishment
Deposit replenishment

After funding your account, you will be able to buy a contract. One of the main advantages of CFD trading is that you can open positions in any direction. You simply buy or sell a contract depending on whether you think the price will rise or fall. Accordingly, you enter a long or short position.

Keep learning and using a variety of assets to trade, good luck!

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The financial services provided by this website carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose