It is said that Shiba Inu was created to answer one single question: What would happen if a cryptocurrency project was 100% run by its community? According to that community, Shiba Inu focuses on the collective power of individuals, called the ShibArmy, as a way to promote social harmony. The ShibArmy is built on the concept of “collective decentralization” that empowers and unites a community around the SHIB coin.

The project’s pseudonymous founder Ryoshi launched the SHIB token by sending 50% of all coins to Ethereum founder Vitalik Buterin and making the other 50% of tokens available for trading on the popular decentralized exchange Uniswap. On May 12, 2021, Buterin donated an estimated $1 billion dollars worth of his gifted SHIB holdings to the India Covid Relief Fund before burning ~40% of the total supply of SHIB tokens (worth about $6.6 billion at the time).

Over 10 years ago, Kraken opened its doors as a Bitcoin exchange and established itself as a pillar of the cryptocurrency industry. We have grown to now offer more than 60 cryptocurrencies and constantly strive to provide our clients with access to the tokens that they want to buy, trade and sell.

Kraken helps you get started buying as few as 50,000 Shiba Inu coins. While you do not need thousands of dollars to buy Shiba Inu, you can also execute much larger SHIB buy orders using Kraken if you wish.

You can also buy SHIB as often as you want. Dollar cost averaging is a popular strategy that allows you to put money into an asset at regular time intervals, regardless of its price. This is designed to help build your holdings over time while minimizing the impact of unpredictable price changes.

Kraken works hard to protect your Shiba Inu coins
When you buy Shiba Inu with Kraken, your crypto is automatically stored in our hot wallet, which is an accessible but highly secure place to keep your SHIB safe.

Kraken allows you to hold your own SHIB
Our rigorous security standards ensure that our users’ crypto is always safe on our platform. However, if you want to hold or transfer your SHIB, Kraken allows you to take full custody of your SHIB in the wallet of your choice, unlike many other fintech services.

Shiba Inu aims to develop a completely community-managed cryptocurrency powered by the SHIB coin. Many SHIB holders have expressed their passion for the project across social media channels and promoted it as a future medium of exchange.

The Shiba Inu project also includes other tokens which allow users to earn additional crypto rewards. By staking tokens on the Shiba Inu network or providing liquidity to the ShibaSwap exchange, SHIB holders can earn additional rewards.

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Disclaimer
Information provided in this “Learn” section is for general educational purposes only and is not intended to constitute investment or other advice on financial products. Such information is not, and should not be read as, an offer or recommendation to buy or sell or a solicitation of an offer or recommendation to buy or sell any particular digital asset or to use any particular investment strategy. Kraken makes no representations as to the accuracy, completeness, timeliness, suitability, or validity of any such information and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use.

Investing in crypto assets is high risk and not suitable for every consumer. The value of crypto assets may go down or up. As many crypto products and markets are unregulated, you may not be protected by government compensation or protection schemes. You should be prepared to lose all your money if things go wrong.