What started out as a meme has grown into a successful cryptocurrency market.
Shibu Inu coin is on the rise at the expense of its rival, Dogecoin.
One Shiba Inu coin is currently worth $0.00001896 and can be tracked using Coin Market Cap. According to the tracker, the cryptocurrency has grown 1,051.16% over the span of seven days.
For those not familiar with cryptocurrency, it’s a digital asset designed to be used over the internet, according to Coinbase. It’s decentralized, meaning it isn’t controlled by the government or any other central authority, such as a bank. It has become the latest investing craze with many already investing money in the market.
Are you looking to invest? Here’s what you need to know before you put your money where your mouth is.
Crypto.com allows online users to purchase cryptocurrency from their mobile devices, and invest in the growing market remotely. The website has an option to watch the market fluctuation, and track popular cryptocurrency, such as Bitcoin, Dogecoin, Binance and Shiba Inu.
There are more than 10 million investors who buy and sell cryptocurrency. Like any investment, investors should use caution as cryptocurrencies are very volatile. Investors may lose a part or all of their proceeds.
Here are some of the most popular cryptocurrencies that have made the news recently.
Bitcoin (BTC)
Bitcoin was the first ever cryptocurrency, established in 2008. The creator of Bitcoin goes by the pseudonym of Satoshi Nakamoto. Bitcoin is arguably one of the most liquid investment assets due to the worldwide establishment of trading platforms, exchanges and online brokerages. Track its progress through Crypto.com.
Ethereum (Ether)
Ethereum is a blockchain-based platform for developing decentralized apps and smart contracts. Ether is the native cryptocurrency used for all the transactions on Ethereum’s blockchain. Another option to consider when trading is to use Ethereum to swap into Shiba Inu tokens on Uniswap’s exchange, according to a report by Benzinga.
Tether (USDT)
Tether was originally launched as Realcoin in 2014, but has since changed its name and been updated over the years. It’s described as a “stable-coin,” which is a type of cryptocurrency that aims to keep crypto values stable.
Litecoin (LTC)
Litecoin is an alternative cryptocurrency created in October 2011 by Charles “Charlie” Lee. Like Bitcoin, Litecoin is based on an open-source global payment network that is not controlled by any central authority. This coin differs from Bitcoin in aspects like faster block generation rate and use of Scrypt as a proof of work scheme.
Dogecoin (DOGE-USD)
Dogecoin, created by Elon Musk, was established in 2013 after the popular meme of a Shibu Inu dog was being circulated across the Internet. The value of the cryptocurrency fluctuated as Musk addressed Dogecoin on his “Saturday Night Live” appearance, claiming it was made as a joke.
Shibu Inu coin was created to mock the style of Dogecoin, and has seen massive success in cryptocurrency sales.
For more suggestions on where trade cryptos, such as Bitcoin, Ethereum, Tether and Litecoin, many suggest the following.
Other popular markets are Gemini and Robinhood.
Crypto.com recently launched a new tab on its website, so online users don’t miss an opportunity to invest. Those who use the site can subscribe to an “NFT” email newsletter for special drops and deals.