Shiba Inu (SHIB) currency has quickly become the most popular cryptocurrency in India and around the world. The meme coin price has dipped marginally to $0.00007328 after reaching an all-time high of $0.00008846 on Thursday. It has surged over 130 percent in the last seven days and is known as ‘Dogecoin Killer.’
SHIB has recently made headlines because it has been listed on additional exchanges, resulting in increased liquidity and accessibility to the coin. SHIB, as it is known, has a current market value of more than $23 billion, which is more than the market value of certain Indian corporations. The cryptocurrency has been soaring since the beginning of October, with a 40 percent increase in the last 24 hours alone.
How to Buy SHIBA INU Coin in India?
Over a dozen cryptocurrency exchanges operate in India, providing a convenient option to purchase the cryptocurrency of your preference. WazirX is one of the safest, offering its consumers a wide range of options for trading.
The first step is to sign up for a WazirX account. You may also go to their website and sign up by clicking on the ‘Sign Up’ button. After you submit your email, you will receive a verification code. The next step is to fill out your KYC information and upload it to the website or app. After you’ve completed this step, you’ll need to go into settings and enable two-factor authentication.
Then, press on the deposit INR icon and choose the option you want to use to transfer the funds through your account to your WazirX blockchain wallet. As soon as your registration is activated, you may purchase or sell SHIB, which will appear in your cryptocurrency wallet. It will only take you a few moments to set up an account. The KYC verification process at WazirX, on either side, could require up to 48 hours.
Buy Shiba INU Coin keep in mind
There are a number of worries about how Shiba Inu and other cryptocurrency assets are maintained once they are acquired on a cryptocurrency exchange. However, cryptocurrency fans have flocked to WazirX for its blockchain wallets, which are typically regarded as safe since they are cryptographically signed.
A blockchain wallet functions similarly to a bank account. The further explanation that investing Shiba Inu with WazirX is simple and uncomplicated is that WazirX enables clients to buy a portion of a cryptocurrency at a reasonable cost. WazirX allows consumers to buy a stake of a cryptocurrency for Rs 100 and evaluate the investments to use the app’s analytical graphs.
Is it Safe to Buy Crypto in India?
For quite some time, cryptocurrencies have been making headlines. With more and more innovation in the field, the chances of cryptocurrencies becoming mainstream have grown significantly. Despite the fact that certain countries are suspicious about digital currencies, cryptocurrencies have gained support from well-known entrepreneurs such as Elon Musk.
With the significant growth in the value of Bitcoin and Ethereum, it may be more difficult to locate an entry point for trading in these coins than it is with younger and growing cryptocurrencies like Shiba Inu. The fact that there is a lot of interest in Shiba coin trade might be proof of it. Shiba Inu has also attracted attention owing to its decentralized exchange, Shiba Swap, which promotes the transfer of non-fungible tokens (NFTs).
Buying bitcoins in India is legal?
Despite the fact that cryptocurrencies are outlawed in numerous countries, their value has risen in recent years. Trading and investing in cryptocurrencies, including Shiba Inu, is permitted in India. Furthermore, according to press sources, the Indian government may adopt a legislative framework to oversee cryptocurrency trade in the upcoming Budget.
The cryptocurrency market has received a boost from recent encouraging news about bitcoin trading in India. According to press sources, around 15 to 20 million Indians have invested in one or more cryptocurrencies, making India one of the world’s largest cryptocurrency marketplaces.