Shiba Inu (SHIB) was launched in August of 2020 by a mysterious founder known only as “Ryoshi”. Vitalik Buterin, the founder of Ethereum, was long believed to be the originator of Shiba Inu, but he denied such rumours. To date, there is still no clear trace as to who the anonymous founder is.
1. Create an Account
Visit the Netcoins website and click on the sign-up button. Or download the Netcoins app from the app store for mobile. Enter your email address, create a strong password, and agree to the terms and conditions. You will receive a confirmation email, click on the link to verify your email address.
2. Fund It
Choose your preferred funding method: bank wire transfer, interac e transfer, crypto deposit, or cash deposit. Follow the prompts to transfer funds into your Netcoins account. The process is quick and incurs no fees.
3. Start Trading
What Makes Shiba Inu Unique?
Shiba Inu is an ERC-20 token and exists on top of the Ethereum network. As such, it also supports smart contracts, or contracts that self-execute once certain criteria are met because they’ve been written in code. Smart contracts are important for the evolution of a financial world that is decentralized.
Shiba Inu also allows users to lend their tokens and stake them (or put them up as collateral for the opportunity to verify transactions and earn rewards), allowing participants to earn passive income from it. As you can see, there are a number of ways that investors could grow their holdings by buying SHIB.
Shiba Inu's Price History
Investing in cryptocurrencies is risky due to the volatile nature of the market. SHIB’s meteoric rise in price has made a few millionaires overnight. During the October 2021 price surge, SHIB famously minted a billionaire. One wallet was uncovered that had bought $8,000 worth of SHIB in the summer of 2020 – worth over $5.7 billion at SHIB’s all-time high valuation in 2021.
Shiba Inu's Future
Looking ahead, the future of Shiba Inu ($SHIB) appears vibrant with several exciting developments on the horizon. The Shiba Inu ecosystem is set to expand its offerings, focusing on increased utility through its decentralized exchange, ShibaSwap, and further developments in its NFT marketplace and gaming sector. Additionally, the community behind Shiba Inu is actively working on initiatives like Shibarium, a Layer 2 solution aimed at reducing gas fees and increasing transaction speeds for its users. These advancements are designed to enhance the overall ecosystem, making it more scalable and user-friendly, thereby potentially increasing the demand and value of $SHIB. As Shiba Inu continues to innovate and grow its platform, it remains a cryptocurrency with a promising outlook in the dynamic world of digital finance.
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FAQs
Why is KYC (Verification) required?
Netcoins Inc. is a licensed money service business under FINTRAC, and a registrant under the Provincial Securities Commissions, and adheres to the strict guidelines set by them for Money Transmitter Businesses and Securities Registrants. We are required to have a Know-Your-Client (KYC) process and compliance program in place. KYC is a process that allows us to verify the identity of our customers.
What do I need to provide for your verification process?
You will have to provide your email address, phone number and personal information including your first name, last name, address, date of birth and a piece of identification (like a driver’s license). Most users are verified at this point through our automated process. If you don’t pass the automated KYC process, you will have to go through an additional document verification stage. This is important and required as we are a regulated money service business.
How can I fund my account?
Your Netcoins account can be funded with a crypto deposit, Interac e-Transfer, or a bank wire transfer. Once you have funds in your Netcoins account, you’ll find that it’s super easy to buy SHIB in Canada.