The best Shiba Inu wallets. Rating of popular crypto wallets for storing SHIB in the world

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Shiba Inu (SHIB) is a popular cryptocurrency that is an ERC-20 token on the Ethereum blockchain. The coin appeared in August 2022. It was created by an anonymous developer known as Ryoshi. The token is named after the Shiba Inu dog breed, which, by the way, is depicted on another “meme” cryptocurrency – DOGE. The coin has its own Woof Paper (a parody of the White Paper of many projects), which talks about the cryptocurrency’s mission - to create the best decentralized ecosystem on the planet.

Today, Shiba Inu's capitalization brings it closer to the 11th most popular cryptocurrency in the world. Since its inception, the value of SHIB has grown by more than 40 million percent, and its army of supporters numbers more than 580 thousand users. It’s not hard to guess – investing in Shiba Inu is profitable. Today we will tell you about how to store this cryptocurrency and which wallets to use.

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Types of SHIB wallets

You can use several types of wallets to store cryptocurrency:

• Paper Wallet
• Hardware
• Software
• Online wallets

Wallets are distinguished from each other by the way they store private keys and the cryptocurrency itself. For example, private keys can be stored on the user's device (custodial wallets) or on a server (non-custodial wallets), and cryptocurrency can be stored without an Internet connection (cold wallets) or with a connection (hot wallets).

Now let's look at each type of wallet in more detail.

Paper wallets (non-custodial, cold) are sheets of paper on which private keys (or mnemonic phrases) and public addresses are printed. Using a special service, you generate your wallet address and a private key to it, and then print them out on paper - and you can transfer cryptocurrency to this address and store it. The private key and public address can be applied to any other item (for example, a metal plate) - this will also be considered a Paper Wallet.

Paper vaults are considered the most reliable type of wallet. However, we don't recommend using them - they're great for receiving cryptocurrency, but not for sending it. To send coins to another user, you will have to convert your paper wallet to any hot wallet (such as a software wallet) by importing the private key.

If you are looking for the most secure storage for SHIB coins, use hardware wallets (non-custodial, cold) - special devices for storing cryptocurrency. In them, private keys are stored in an isolated environment, and to send coins, you just need to connect the hardware wallet to your computer or smartphone (the private keys will not leave the device). Such wallets may externally resemble ordinary flash drives or key fobs. The main disadvantage is the cost. The price of devices can reach 10+ thousand rubles.

Software wallets (non-custodial, hot) are programs and applications for storing cryptocurrency on a computer or smartphone. Depending on the device, they come in 3 types:

• Mobile
• Desktop
• Cross-platform

Mobile wallets are usually suitable for smartphones on Android and iOS, desktop wallets are suitable for computers on Windows, MacOS and Linux, and cross-platform wallets are suitable for all of the above platforms.

Private keys in software wallets are stored in the device's memory, but the wallet itself is constantly connected to the network, which makes it less secure than hardware storage. On the other hand, software wallets are free - this is a kind of balance between convenience, security and profit.

Finally, online wallets (custodial, hot) are web services for storing cryptocurrency. For the average user, they are almost no different from regular electronic wallets (for example, WebMoney): you register, receive an address, and can accept/send transfers. Online wallets are considered the most unreliable: private keys are stored not with you, but on the servers of web services. Accordingly, they can be accessed by service employees, intruders (hackers), etc.

Shiba Ideas

The project’s website calls the token itself a “Dogecoin killer,” and says that its main goal is to surpass the total capitalization of Elon Musk’s favorite coin without crossing the $0.01 price mark. The Shib whitepaper, which the authors jokingly call “woofpaper,” states that Shib is an experiment in the spontaneous construction of a decentralized community.

The creators of Shiba were inspired by the example of the WallStreetBets community, which inflated the price of shares of GameStop and a number of other companies. The creators of Shiba call their community “Shib Army”. According to their estimates, this “army” already includes more than 120 thousand people.

Shiba's main goal is to create the best decentralized ecosystem (DECO) on the planet. The first step towards this will be the creation of the decentralized exchange Shiba Swap. On the exchange it will be possible to engage in profitable farming and mining liquidity through coins of the Shib ecosystem. Also, as part of the development of the ecosystem, the Shib team will release their NFT tokens and a new Bone coin. There is already a second coin in the ecosystem, Leash. Its total supply is only 100 thousand coins, and the cost is $1.8 thousand, according to Coinmarketcap.

Ledger Nano X

A hardware wallet produced by the French company Ledger since 2019. The Nano X model replaced the Nano S model, which became the leader in sales worldwide (more than 1.3 million wallets). Ledger hardware wallets support storing ERC-20 tokens, so you can store SHIB in them.

The Ledger Nano X wallet is a small device that resembles a regular flash drive. Its dimensions:

• Length – 72 mm
• Width – 18.6 mm
• Thickness – 11.75 mm
• Weight – 34 g

The wallet body is made of plastic and brushed stainless steel and consists of the storage itself and a protective cap. It contains control buttons with which you can confirm operations, and a small (dimensions - 128x54 px) display. There is also a USB Type-C connector on the case, which allows you to connect the wallet to a computer. The storage is powered by a lithium-ion battery (capacity – 100 mAh), the battery life reaches 8 hours.

To send cryptocurrencies, you need to connect your wallet to your computer (Windows 8+, MacOS 10.8+ or Linux) or smartphone (Android 7+ or iOS 9+) and use the Ledger Live application.

The kit includes:

• Hardware wallet
• USB-A to USB Type-C cable
• Booklet
• 3 recovery sheets
• Keychain strap

The cost of the wallet (on the official website) is 10,699 rubles (excluding VAT and duties).

Trezor Model T

A hardware wallet produced by the Czech company Trezor since 2018. Model T became the replacement for Model One, the very first crypto hardware wallet in the world. Trezor wallets also support ERC-20 tokens, so they can be used to work with SHIB coins.

The Trezor Model T wallet is a small device that resembles a keychain. Its dimensions:

• Length – 64 mm
• Width – 39 mm
• Thickness – 10 mm
• Weight – 22 g

The wallet body is made of plastic. It houses a touch LCD display (dimensions – 240x24 px), a slot for a micro-SD card and a USB Type-C connector. Inside the wallet is a 144Hz ERM (Cortex-M4) processor running on a custom Trezor Core system. To send cryptocurrencies, you can connect your wallet to your computer (Windows 10+, MacOS 10.11+ or Linux) or smartphone (Android).

The kit includes:

• Hardware wallet
• USB-A to USB Type-C cable
• Magnetic wallet storage dock
• 2 recovery cards
• Branded stickers

The cost of the wallet (on the official website) is 164 euros.

Trust Wallet

Mobile wallet supporting over 53 blockchains and 160 thousand assets. The wallet allows you to store, accept and send SHIB tokens to other users from a smartphone on Android or iOS. The application can be downloaded for free from Google Play and the App Store or in APK file format from the official repository website. There is no desktop version for computers.

To work with the Shiba Inu cryptocurrency, just download the application, install it on your smartphone and create a new wallet. In the bottom menu of the application you will see 4 sections:

• Wallet. The main section for working with the wallet. Here you will see all the coins stored on your smartphone, you can copy the address to receive transfers, send cryptocurrency to other users, etc.
• DApps. Here is a browser for working with decentralized applications, which can be interacted with directly from the wallet.
• Swap. Built-in exchange service that allows you to buy and sell cryptocurrency. Unlike most platforms, you can do this completely anonymously - the application does not require registration or verification.
• Settings. Wallet settings.

You can also track prices and view charts, staking cryptocurrencies, etc. in one application.

Is it worth buying the SHIB token?

It is important to understand that the Shiba Inu had a great start. The timing of the new meme token's emergence was perfect, with those who had missed out on Doge's impressive rise trying to catch the new wave.

In addition, each new listing on the exchange helped to further increase the price of the coin.

For example, when Binance listed a crypto asset, its value instantly doubled. Binance CEO Changpeng Zhao tweeted that day that the exchange had run out of ETH deposit addresses due to SHIB. He also called the project exciting, but very risky:

Shiba inu's goal is to capture the momentum and use it to further expand its ecosystem, Changpeng said.

The developers then sent 505 trillion tokens (exactly half of the total supply) to Ethereum co-founder Vitalik Buterin's address in hopes that he would hold them. At that time, their total value was about $2 billion. However, Vitalik immediately donated the donated cryptocurrency to one of the Covid relief funds. This led to an increased supply in the market and a decrease in the price of the crypto asset by 50%.

As you can see, SHIB is a speculative asset. It was created as an alternative to another speculative token, DOGE. However, Shiba does not have famous people supporting him. Most of the people who bought it are those who missed out on Dogecoin's phenomenal rise and want to try their luck.

SHIB could experience a boom in the cryptocurrency market in the coming months, just like any other altcoin. But subject to the upward movement of Bitcoin.

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MetaMask

Mobile wallet that supports Ethereum and other ETH-based tokens - for example, ERC-20, ERC-721, etc., including Shiba Inu. The storage is presented in the format of a mobile application for Android and iOS and an extension for Chrome, Firefox, Brave and Edge browsers. MetaMask wallet (in plugin format) supports Ledger and Trezor hardware wallets. There is no desktop version for computers.

To work with the SHIB token, you need to install the extension in your browser or download the application to your smartphone, and then create a wallet. When creating a vault, you must write down and save the secret phrase used to recover the wallet. Inside the storage you will find an address to which you can send tokens, as well as functionality for making transfers to other users.

Additional features of the wallet include coin exchange (service commission ranges from 0.3% to 0.875% per transaction).

conclusions

Shiba Inu was the subject of our discussion. Thanks to its potential and relevance, all investments in it will pay off. A really good investment if you want to hold the coin for a long time. To be clear, these forecasts are usually not the most important factor when choosing a purchase.

According to experts, their conclusions are influenced by technical analysis and external variables. It's also good to gather your ideas and then use predictions to form your point of view. Finally, it's good that you don't rely on price forecasts.

Let us know if there is anything left untouched related to Shiba Inu price forecast.
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Atomic Wallet

Cross-platform wallet supporting over 300 tokens. You can use the wallet in the format of a desktop application for Windows, MacOS and Linux (versions available for Ubuntu, Debian and Fedora), as well as a mobile application for Android and iOS. The mobile version can be downloaded from Google Play and the App Store, versions for computers and an APK file for Android can be downloaded from the official website of the wallet.

When creating a wallet, you generate a private key and a Seed phrase (it is recommended to write it down and save it separately - it is necessary to restore access to the wallet), which will be stored in the memory of the device used as storage. Inside the wallet you will find the address for receiving transfers, as well as the necessary functionality for sending coins.

Additional features of Atomic Wallet include:

• Instant exchange with cashback – more than 60 pairs supported.
• Buying cryptocurrency with a bank card.
• Cryptocurrency staking.

The service does not adhere to the KYC policy and does not collect any data about its clients. You can use your wallet anonymously, no one will ever block your funds.

How to buy digital junk: instructions for Shiba Inu, and how to stay with an empty wallet

If you look at the news portals over the past 2-3 months, almost every issue talks about meme coins such as Shiba Inu and others. Shiba Inu dominates among them. Meme assets began to spread rapidly after Elon Musk began advertising Dogecoin.

After this, a large number of meme coins began to appear on the cryptocurrency market.

What is a meme coin? This is an asset that is dedicated to an Internet meme (joke, funny image), interesting event, influencer, character in the real or digital world.

Already in the very definition of a meme coin there is a danger of its use, which few people pay attention to. But more on that later.

Shiba Inu was introduced to the market in April this year as an experiment in decentralized spontaneous digital community building. Huobi Global was the first to announce the listing, and trading of the coin started there on May 8th. Next, the coin was added by KuCoin and Binance.

Then other crypto platforms joined them. The value of Shiba began to grow rapidly, and the number of people wishing to purchase the asset increased sharply. The coin has become one of the central topics on news portals dedicated to cryptocurrencies, sometimes overshadowing even Bitcoin.

Since the coin is so popular and is supported by such well-known exchanges, then there are no problems and you can invest in Shiba?

No one forbids becoming a holder of this or that asset on the market, but each user must understand the degree of risk of investing and owning an asset.

Shiba Inu is in the red, maximum risk zone, and here's why.

Why can Shiba Inu literally leave you with an empty wallet?

It was said earlier that meme coins are the personification of memes - that is, jokes. A joke has no more value for a short period of time. If we transfer the analogy to an asset, Shiba Inu initially has no fundamental, practical value.

In fact, he represents scam at its highest level, and this is extremely bad for the industry in the long run.

What does the fundamental, practical value of an asset mean?

A specific example can be given - The Real Asset Company service. The platform operates on the basis of storage infrastructure in different countries, providing clients with the opportunity to conduct transactions with gold and silver around the world.

The service has its own cryptocurrency, which allows clients to manage their investments and receive a percentage of transactions. That is, the project’s own asset has value for users, allowing them to work on the service and conduct transactions with gold and silver.

What is Shiba's practical value based on? What is he developing? Where is its fundamental resource of usefulness? It does not exist and cannot exist, because it is a meme. But because of this meme, many will lose money, emptying their wallets.

The catalyst for the movement and increase in capitalization of the Shiba Inu meme coin and others like it is classic FOMO and fear of lost profits. Any asset based on such parameters is doomed.

Investments in such assets are extremely risky, even from the point of view of short-term profit. They are extremely volatile and no forecast can predict their movements within a single trading session. Only very experienced traders who have significant funds to compensate for losses can work with it.

But the paradox is that experienced traders try not to have meme coins in their portfolios, or they occupy an extremely small percentage of them.

The road map, the technical parameters of the coin, the size of the community, trading volumes, the general situation on the market, the actions of regulators, the impact of inflation - all this must be constantly studied before investing in an asset.

Which novice investor or trader would do this? Units. And the more they begin to study the asset, the faster they realize that the profit from such an asset is extremely doubtful.

There is one interesting technical detail that only experienced players know about - the average time for which investors own Shiba Inu. It is only 3-5 days. This short holding period shows that there really is no fundamental benefit to the asset. Just like nothing is sustainable.

There are only emotions and tweets. And any guide dedicated to trading indicates that emotions are one of the main factors in losing a deposit during trading.

The real creator of the asset is unknown, the roadmap has not yet been published, which should already be alarming. Not a single blockchain has been created on the basis of the asset that would be used in the real economy.

Conclusion

So, the Shiba Inu meme coin is an extremely risky asset:

• created by an unknown entity, only his pseudonym is known - Ryoshi
• no fundamental, practical value
• Investors' holding time is several days, which shows the extremely high volatility of the coin
• no roadmap has been created
• growth is driven solely by emotions and tweets

Thus, a user who purchases Shiba Inu or any other meme token must understand that they may lose their entire deposit within one hour of the trading session.

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Author: Vadim Gruzdev, analyst at Freedman Сlub Crypto News

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Coinbase Wallet

Mobile crypto wallet owned by the Coinbase exchange. Supports over 500 cryptocurrencies and NFT tokens (collectibles). The storage is available in the format of a mobile application for Android and iOS, as well as an extension for the Chrome browser.

When creating a wallet, you generate private keys that are stored in the device's memory. They are protected with Secure Enclave, biometric authentication and optional cloud backups. You do not need an account on the Coinbase cryptocurrency exchange to use the wallet.

The Coinbase Wallet allows you to store, accept, and send SHIB and many other tokens. You can also trade assets on DEX and make money from cryptocurrency.

Shiba Inu price forecast

SHIB Price Forecast for 2022

It is believed that the price of Shiba Inu will increase in the coming years. The price is predicted to rise to $0.00002023 by the end of 2022, double the current price.

SHIB Price Forecast for 2022

Following the surge that will occur in 2022, the price of Shiba tokens is expected to continue to rise in 2022. By the end of 2022, it could be $0.00002230.

Price forecast for the next 5 years

Prices are also predicted to rise in the coming years. It is estimated that by the end of 0.00003106 the price could reach $2025 and continue to rise. By the end of five years it could be $0.00003860.

Cryptocurrency market forecast

1. Walletinvestor.
   According to their forecast, by June 0.000030 the price will reach around 2021 US dollars. They also believe that the price will rise and will be around $0.000048 by the end of the next five years.
2. Digitalcoinprice.
   According to digitalcoinprice, the Shiba Inu price will not decrease and will reach approximately $0.00004398 by the end of six years.
3. tradingbeast.com.
   Their forecasts say that Shiba Inus are a good investment and prices will rise. They believe that by the end of 0.0000316 the price will reach $2022.

Binance

Online wallet of the largest cryptocurrency exchange in the world. The Binance exchange allows you to work with more than 700 cryptocurrency assets - you can not only store them, but also trade, earn money from staking, mining, and much more.

To create a wallet on the exchange, you need to register and pass verification - this will allow you to buy cryptocurrency for fiat money, and will also increase withdrawal limits. After this, you will be able to buy, store and sell cryptocurrency, accept and send transfers, and so on.

For convenience, you can download and install applications for computers (Windows, MacOS and Linux) and smartphones (Android and iOS). Please note - these are not software wallets! Private keys will be stored on Binance servers and not in the device memory.

The Binance wallet allows you to store SHIB in your account, trade the token on the exchange and earn money by staking it. You can purchase a coin directly on the exchange, or also buy it using a bank card.

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Shiba Inu Price Forecast in July 2021

Since its inception (July 31, 2022, according to CoinMarketCap), SHIB has seen significant growth in a short period of time. The coin may reach 0.000011 in August 2022.

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The chart below shows Shiba Inu price dynamics in BTC, USD since the creation of the Dogecoin killer.

Source: CMC