how to add Shiba Inu to coinbase wallet

Adding Shiba Inu (SHIB) to your Coinbase Wallet involves a few straightforward steps. Here's a structured overview to guide you through the process, including an introduction, meta description, and summary:

What is Shiba Inu?

Shiba Inu (SHIB) is a decentralized meme token that aims to be an Ethereum-based counterpart to Dogecoin (DOGE). Launched in August 2020 by an anonymous creator known as "Ryoshi," SHIB is part of an ecosystem that includes an NFT art incubator and a decentralized exchange called ShibaSwap. It has a total supply of one quadrillion tokens, emphasizing abundance over scarcity.

Steps to add Shiba Inu to coinbase wallet

Adding Shiba Inu (SHIB) to your Coinbase Wallet is a straightforward process. Follow these step-by-step instructions to get started:

Step 1: Install the Coinbase Wallet

• If you haven’t already, download and install the Coinbase Wallet app on your smartphone or add the extension to your web browser.

• Create a new wallet if you are a new user, or log in to your existing wallet.

Step 2: Access Your Wallet

• Open the Coinbase Wallet app or the browser extension.

• Sign in if necessary, to access your main wallet dashboard.

Step 3: Find Shiba Inu (SHIB)

• In the app or browser extension, tap on the “Receive” button.

• Search for Shiba Inu (SHIB) in the search bar. If SHIB doesn’t appear automatically in your list of assets, you may need to search for it by typing "SHIB" or "Shiba Inu."

Step 4: Add Shiba Inu to Your Wallet

• Once you have found SHIB, select it to add to your wallet. This action makes it possible to receive SHIB by displaying its address.

• If prompted, confirm the addition of the token to your wallet.

Step 5: Receive SHIB

• After adding SHIB to your Coinbase Wallet, you will see an option to “Copy” or share your SHIB address. This is the address you will use to receive SHIB tokens.

• Share this address with the sender if you are receiving SHIB from another person, or use it to transfer SHIB from another exchange or wallet to your Coinbase Wallet.

Step 6: Confirm the Transaction

• Depending on the method you're using to receive SHIB, you may need to confirm the transaction on the platform you're sending it from.

• Wait for the network confirmation. The time it takes for SHIB to appear in your Coinbase Wallet can vary based on network congestion and the transaction fee paid.

Conclusion

In conclusion, Shiba Inu (SHIB) has transcended its meme coin origins to foster a robust and dynamic ecosystem. Founded by the enigmatic Ryoshi, SHIB's creation was motivated by a mix of idealism, community spirit, and a fascination with the Shiba Inu dog breed. The project's unique approach to decentralized governance and community involvement has not only led to significant market achievements, including briefly surpassing Dogecoin in market capitalization, but has also sparked widespread adoption and the development of a diverse ecosystem. This includes plans for an algorithmic stablecoin, SHI, and the establishment of a financial ecosystem with ShibaSwap at its core.

FAQ

Who founded Shiba Inu?

‍The Shiba Inu token was created by an anonymous individual or group known as "Ryoshi." Ryoshi describes themselves as an ordinary person "tapping at a keyboard," emphasizing the decentralized and collective leadership model of the Shiba Inu project. Ryoshi's identity remains a mystery, similar to Bitcoin's Satoshi Nakamoto.

What inspired the creation of SHIB?

‍The founders of SHIB were motivated by three main reasons: starting from zero with no initial funds, the desire to collaborate among previously unacquainted brilliant minds, and a love for Shiba Inu dogs.

Why is Shiba Inu unique?

‍Shiba Inu is unique because it tests the feasibility of a decentralized autonomous organization (DAO) without central leadership. Ryoshi, the founder, stepped away in mid-2021, leaving the project entirely in the community's hands. Its popularity and rapid adoption, including surpassing Dogecoin in market capitalization at one point, highlight its success.

How many SHIB coins are in circulation?

‍Initially, SHIB had a total supply of one quadrillion. 50% was locked in Uniswap for liquidity, and the other 50% was "burned" to Ethereum co-founder Vitalik Buterin. Buterin then donated 50 trillion SHIB to India's Covid Crypto Relief Fund and burned 40% of the total supply, significantly reducing the circulating supply.

How is the SHIB network secured?

‍SHIB is an ERC-20 token, meaning it's secured by the Ethereum blockchain. Ethereum currently uses a proof-of-work mechanism, transitioning to proof-of-stake for enhanced security and efficiency.

Where can you buy Shiba Inu (SHIB)?

‍SHIB is available on multiple cryptocurrency exchanges, including Binance, Huobi, Coinbase, Gate.io, Uniswap (V2), and OKEx. For live price tracking in various fiat currencies, resources like CoinMarketCap offer dedicated tools and conversion features.

What are the plans for Shiba Inu's financial ecosystem?

‍The Shiba Inu ecosystem plans to include SHI, an algorithmic stablecoin pegged to one cent, designed to be a global exchange of value. This is part of a broader ambition to create a financial ecosystem within Shiba Inu, involving an immutable bridge and potential forks of major DeFi protocols.

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