Shiba Inu (SHIB) investments have skyrocketed in Europe, especially Germany, because of its high profitability. Also the coin can be used as a payment option in some cases.
The coin has only existed since 2020, and we understand that many investors are still sceptical about taking their chances with the investment. However, Shiba continues to be embraced by investors, and putting up your money into it can benefit you in the long run.
This article will give you insights into how Shiba investments work and whether it is easy to buy and sell in Europe. We will also include some significant reasons you should consider this investment in 2022 and the best way to get started.
How to Buy Shiba Inu in Europe
Like other cryptocurrencies, you need a cryptocurrency exchange or brokerage firm to buy Shiba Inu. Note that these platforms have varying features, and it is crucial that you choose those that benefit your Shiba investment requirements. For instance, you need to consider budget, reliability, availability of Shiba and other cryptos, payment methods, demo accounts, etc. Most importantly, invest using brokers or crypto exchanges that accept clients from your country.
For instance, German investors looking to buy Shiba Inu, should go for brokers regulated by the Federal Financial Services Authority (BaFin).
If you are in Germany or you are a German investor, take a look at the following guide on the best platforms where you can buy Shiba Inu: Shiba Inu krypto kaufen in Deutschland. This translates to How to buy Shiba Inu in Germany.
Note that the best broker or cryptocurrency exchange allows purchasing of SHIB using various payment methods. These funding methods include debit/credit cards, bank transfers, e-wallets like PayPal, and other cryptocurrencies. All you need is a crypto wallet and select a more flexible payment option you are comfortable using.
For newbies looking for ways to get started, the procedure for buying Shiba can be pretty straightforward once you understand how to go about it. By creating an account on a broker’s or cryptocurrency exchange’s platform, you can easily access the asset and complete the purchase. However, note that you need to start by learning about the Shiba Inu market and how it works, including all the risks involved, before making your first significant investment.
Other Ways Of Investing In Shiba Inu
Although some traders and investors will buy Shiba and store it in their digital wallets, others prefer other methods of making profits from the asset. One of the most popular ways to trade Shiba is through CFD trading, offered by regulated brokers that meet your trading requirements.
With Shiba CFD trading, you do not take ownership of the underlying asset. Instead, all you do is predict Shiba’s price movement through the chosen platform. Remember that all cryptocurrencies, including Shiba Inu, are volatile, and you must conduct a thorough market analysis for increased profitability.
Alternatively, you can buy SHIB’s shares through companies that produce the commodity. Here, you will require a broker with access to the exchanges where the companies’ shares are listed. The best element about buying Shiba shares using brokers is that you can purchase the shares as fractions should a single one be costly to afford.
Pros and Cons of Buying Shiba in 2022
Shiba Inu runs on the Ethereum network as an ERC20 token. It is one of the meme coins besides Dogecoin that has captured investors’ attention from diverse regions in Europe. Recently, the Shiba community celebrated one million holders, which ended up stirring the cryptocurrency space. For this reason, many investors dub it the “Dogecoin killer,” especially when it comes to long-term investments.
With many controversies surrounding Shiba Inu investments, below are the pros and cons of buying Shiba to give you a clear insight.
- Shiba’s current share price is very cost-effective, making it a viable option for newbies. Since this cryptocurrency’s popularity is skyrocketing, investing in it now when the price is still low can pay off in the long run.
- Shiba has a decentralized exchange known as ShibaSwap that is highly secured and allows users to meet and trade cryptocurrencies.
- The cryptocurrency has shown immense growth since it was launched in 2020 — an indication that it could generate good profits in the long run.
- It supports smart contracts, making it easier for investors to lend and stake them while earning passive income.
- It has gained massive support from prominent business people, including Elon Musk. This keeps the coin in the limelight for new investors.
- Being a relatively new asset in the market with little information about it makes Shiba a riskier investment compared to other cryptocurrencies.
- The asset is highly volatile, making it challenging for investors to predict how it will be in the future.
Shiba is a highly volatile cryptocurrency, and investing in it is risky. However, all financial assets carry risks, and the only way to mitigate them is by conducting extensive market analysis to develop the best investment strategies. Generally, Shiba is a good investment, and it is easy to buy when using licensed and regulated brokers. The best element about buying Shiba with brokers is that you get access to additional assets for portfolio diversification. Plus, brokers offer learning and research tools for a worthwhile experience.