MemeCoins are all the rage now, and if you are planning to dive into it too, this article is perfect for you. One of these rising coins is Baby Shiba Inu. In this article, we shall cover the complete process of buying, so read the entire piece.
Summary
- MemeCoins are a decentralized, practically a useless currency that has no functionality. However, with a better understanding of its potential, one can easily chalk out benefits from it.
- Baby Shiba Inu is the most popular and fastest-growing canine-related meme coin, which has been built by a dog-loving team.
- Pancakeswap is a decentralized exchange platform and an automated market maker built on the Binance Smart Chain network in September 2020.
- Shiba Inu is a comparatively new token which one can easily purchase it from the Pancakeswap platform.
What are MemeCoins?
Recently, meme coins have been gaining significant popularity and have had their value 5x or 10x in a single day. However, unlike other cryptocurrencies, they have no value and are usually created as copycats. Cryptocurrencies like ETH, Bitcoin contribute to the crypto space and have defined goals. Moreover, they are risky investments, but if you manage to understand the long-term and short-term potential of the coin fully, you can drive out regular profits as well.
What is Baby Shiba Inu?
Baby Shiba Inu, built by a dog-loving team, is a novel token with a social conscience. It offers a unique amalgamation of NFT presence and multi-level staking rewards system. The group donates to Shiba Rescue America Organization, and every baby Shiba Inu token holder contributes to the charitable cause.
Baby Shiba Inu has gained popularity as one of the coins with high gains and low risks. Launched in July 2021, this meme coin is already one of the fastest-growing canine-related cryptocurrencies.
What is the PancakeSwap exchange platform?
Created in September 2020, PancakeSwap is an automated market maker decentralized exchange platform built on Binance Smart Chain. Being a decentralized application DApp, it does not maintain any order books. Instead, users, in addition, can earn by lending, yield farming, and staking on its liquidity pool. Currently, PancakeSwap is the only major platform to offer to buy and sell Baby Shiba Inu. Read more about the best crypto swap platforms here.
How to buy Baby Shiba Inu on Pancakeswap?
Baby Shiba Inu cryptocurrency is comparatively new, and hence you may not find it on most of the exchange platforms. However, here we have mentioned a step-by-step process of buying the meme coin on PancakeSwap.
- First and foremost, download and create an account on Metamask wallet.
- Secondly, connect your Metamask wallet with BSC Mainnet.
- Now login to your Binance account and click on the Buy crypto option on the top left corner.
- Choose the debit or credit card option from the drop-down list.
- Now select BNB from the list and enter the amount of money you’d like to buy BNB.
- Then tap on Buy now and complete the transaction.
- Visit the PancakeSwap website and in the connect wallet section, select Metamask. Don’t forget to change the network to Binance Smart Chain.
- Head to the Exchange section on the trade page and select ‘babyshibainu’ in the second search bar.
- Click on SWAP and confirm the transaction after filling up the recipient’s address.
Pros & Cons
| Pros | Cons |
|---|---|
| Offers a unique amalgamation of NFT presence and multi-level staking rewards system. | Like every other meme coin, baby Shiba Inu is also a risky investment and doesn’t have longevity. |
| Offers high returns with low risks as compared to other Shitcoins. | Highly volatile with higher possibilities of it being fraudulent. |
Conclusion
Baby Shiba Inu coin is a rising meme coin built by a dog-loving team. It was launched in 2021. It is not available on many platforms but can be easily acquired on Pancakeswap. It’s needless to say that it’ll be made available on more and more platforms with further coin growth. Buying Shitcoins may be an easy process, but they come with more significant baggage of risks. Therefore, understanding the short-term and long-term potential of the coin and doing proper research becomes even more necessary when investing in Shitcoins like Baby Shiba.
How to store Baby Shiba Inu shitcoins?
Baby Shiba Inu crypto is an ERC-20 token based on the Ethereum platform, and the tokens can be stored in any Ethereum compatible hardware wallet. An excellent hardware wallet option for storing any Ether token is Ellipal. Read our blog on the best crypto wallets in 2021.
Is Baby Shiba Inu token a good investment?
Investing in Shiba Inu is a risky business. However, although it is not the safest investment to make, it has great potential, and its returns can skyrocket to as high as 2500% as they did this May. Thus it can prove to be an astonishing and beneficial investment. Read our article on investing in cryptocurrencies.
What is Baby Shiba Inu token price prediction?
Predicting the future price of any cryptocurrency is a scam, so don’t let tricksters fool you. Instead, thorough research and good information gathering regarding the Shiba Inu coin can help you make an informed and safe decision.
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