Shiba Inu is an Ethereum-based alternative to Dogecoin (AKA the original memecoin).
Launched in 2020 by someone known only as ‘Ryoshi’, SHIB has no real purpose (like DOGE). However being built on Ethereum means that it can be used to create DeFi products like the decentralised exchange (DEX), Shibaswap.
While SHIB is essentially a very, very expensive crypto in-joke, with CoinJar Card users can nominate SHIB as their spend account and use it for in-store and online purchases. And really, is there any better conversation starter than telling a mate you just bought them coffee with SHIB?
Dogecoin was the original memecoin, created in December 2013 as a joke version of Bitcoin and built using essentially the same technology. Shiba Inu was inspired by Dogecoin, but was deployed as an ERC-20 token on the Ethereum blockchain. This means that beyond being a purely tongue-in-cheek crypto, it also has the power to use smart contracts in the shape of dapps and DeFi.
People typically buy Shiba Inu in the UK through a crypto exchange such as CoinJar. You can create an account, verify your ID – and then either deposit money from a bank account or use a debit card to make the purchase.
Shiba Inu was created in August 2020 by an anonymous figure known only as Ryoshi. Ryoshi declared that Shiba Inu coin would be the “Dogecoin Killer”.
As this would put the market cap of Shiba Inu slightly north of $589 trillion, the answer is no.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high‑risk investment and you should not expect to be protected if something goes wrong. Take 2 minutes to learn more: www.coinjar.com/uk/risk-summary.
Cryptoassets traded on CoinJar UK Limited are largely unregulated in the UK, and you are unable to access the Financial Service Compensation Scheme or the Financial Ombudsman Service. We use third party banking, safekeeping and payment providers, and the failure of any of these providers could also lead to a loss of your assets. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets. Capital Gains Tax may be payable on profits. CoinJar’s digital currency exchange services are operated in the UK by CoinJar UK Limited (company number 8905988), registered by the Financial Conduct Authority as a Cryptoasset Exchange Provider and Custodian Wallet Provider in the United Kingdom under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended (Firm Reference No. 928767).
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