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Shiba Inu FAQ
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What is Shiba Inu (SHIB) and why is it famous?
SHIB is a popular memecoin, similar to Dogecoin. It was also inspired by the Shiba Inu dog, a Japanese breed. The asset's logo is actually what has drawn so much attention to it.
How did SHIB come into existence?
SHIB was made by an anonymous person or even an entire group, which are also known under the pseudonym "Ryoshi". The coin was planned like an experiment in decentralized community building.
What's SHIB's symbol, and why is it a Shiba Inu dog?
Shiba Inu dog is a famous internet meme that has inspired the developers. Some believe it's adding fun, friendly, and playful vibes to the cryptocurrency.
Is SHIB similar to Dogecoin (DOGE)?
Yes, they are both a) cryptocurrencies, b) memecoins, c) inspired by a Japanese Shiba Inu dog. The assets differ by the fact that they run in distinct ways: Dogecoin has its own blockchain, while SHIB operates on Ethereum.
How can I obtain SHIB?
Buy SHIB only on trusted crypto exchanges: OKX, Kraken, Binance, and Coinbase. Or use the itez on-ramp service to buy SHIB via bank card, SEPA ar Google Pay.
Can I use SHIB for everyday transactions?
Not really. SHIB is mostly used for speculative trading. The coin is not widely accepted as a means of payment, especially compared to major cryptocurrencies.
What's the "WoofPaper" in SHIB's context?
The "WoofPaper" is SHIB's whitepaper. It outlines the project's vision and also tells about how it works.
Is SHIB an inflationary cryptocurrency?
SHIB has a massive supply, which makes the coin inflationary.
What's the "ShibaSwap" platform, and how does it work?
ShibaSwap is a decentralised exchange (DEX) for trading SHIB tokens and other cryptocurrencies. It also provides users with the ability to swap different coins, deposit their assets into liquidity pools, stake, and participate in governance through a Decentralised Autonomus Organisation (DAO).
Can I stake SHIB and earn rewards?
Yes, users can stake SHIB through ShibaSwap by providing liquidity to certain pools. In return, they get LP tokens and then earn rewards in the form of BONE tokens.
Is SHIB considered a serious investment?
SHIB is often viewed as a speculative investment as it's keen to flactuations being a memecoin. Anyway, users should always do their own research before making any investment decisions.
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