Shiba Inu is a decentralized cryptocurrency created in August 2020 and modeled off Dogecoin, itself a cryptocurrency based on the Doge meme. Unlike Dogecoin, Shiba Inu is an ERC20 token based on the Ethereum blockchain. It was created by an anonymous individual known as "Ryoshi", and has a maximum supply of one quadrillion tokens.
Bitvavo makes it as easy as possible to buy digital assets and cryptocurrencies.
1. Sign Up
Create a free account with which you can buy, sell, send, receive and store Shiba Inu. Access your Bitvavo account from every location, on mobile and desktop.
2. Transfer Funds
Verify your account and transfer Euros to your Bitvavo wallet using one of the 8 supported payment methods.
3. Buy and Trade
Buy or sell over 150 digital assets and pay a maximum trading fee of 0.25%. Store your assets in your Bitvavo wallet or send them to your external wallet.
Storing Shiba Inu and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Shiba Inu without any technical knowledge. Here is a brief overview of the existing wallet options to store your Shiba Inu:
Hosted wallets are wallets where the private keys to your Shiba Inu are managed by a third party such as Bitvavo. Access to your account is protected by a password and other advanced security features. Once you are logged in, you can easily and conveniently manage your Shiba Inu online. Bitvavo offers standard hosted wallets for all digital assets that are offered on the platform.
A software wallet is a program installed on your computer or other device in order to use and manage your Shiba Inu. Using a software wallet gives you full control over your private keys, so you are not dependent on third parties. The risk is that you alone are in charge of the security of your Shiba Inu, and if malicious parties have access to your device, your private keys (and therefore your Shiba Inu) can be stolen.
A hardware wallet is a physical device on which you can store your Shiba Inu offline. It is one of the safest ways to store your Shiba Inu, because the private keys are stored on a separate and offline device. Access to this device is often protected by a password. In many ways, a hardware wallet can be compared to a safe in which your Shiba Inu is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Shiba Inu. Once you have purchased Shiba Inu on Bitvavo, you can choose to send your Shiba Inu from your Bitvavo wallet to your own software or hardware wallet.