How to Buy
5 steps to buy on BYDFi
Open BYDFi account for free
Sign up for BYDFi with your email/mobile number and create a strong password to protect your account
Keep your account safe
Enable Google Authentication (2FA), set anti-phishing code, and trading password to add an extra layer of protection to your account.
Verify account
Enter your personal information and upload a photo of your valid ID cardVerify your personal identity
Add payment method
Once your BYDFi account is verified, add credit/debit card or bank account
Buy
There are various payment methods available to purchase SHIB on BYDFi. We'll guide you through it
Choose how to purchase SHIB on BYDFi
Buying coins on BYDFi is easy and convenient. Explore different ways to buy
- 1
Buy with credit/debit card
This is the easiest way for new users to buy (SHIB). Connect your credit/debit card to your account, enter the amount, and wait for the transaction to complete
- 2
Buy through third-party channels
BYDFi supports a variety of leading third-party payment services. Visit ourThird-party payment pageCheck out the payment methods available in your area
- 3
Buy on BYDFi's Spot market
BYDFi's Spot market offers 700+ Coin pairs, making it the most popular buying platform. Buying methods are as follows:1. Buy stablecoins through BYDFi, third-party Coin buying channels. Additionally, you can transfer crypto assets from other wallets or exchanges to the BYDFi platform. Please make sure to choose the correct blockchain network, once you deposit your funds to the wrong address it cannot be reversed.2. Transfer your crypto to BYDFi account. Find the trading pair you want to trade on BYDFi's spot market. Place an order to exchange your currency to
Note: BYDFi offers a variety of order types to buy in the spot market, such as market orders to buy immediately and limit orders to buy at a specific price. For more information about BYDFi order types, click here3. After a successful trade, you can view the available in your account
How to store ?
The best way to store will vary depending on your needs and preferences. Check out the pros and cons to find the best way to store
Store SHIB in your BYDFi account
Storing assets on BYDFi will give you quick access to trading products such as spot and contract trading, savings, lending, and more. BYDFi acts as the custodian of your crypto assets, saving you the hassle of keeping your private keys. Make sure to set strong passwords and upgrade your security settings to prevent malicious actions from accessing your assets
Deposit your SHIB to the wallet
「No key, can't withdraw」If security is your biggest concern, you can withdraw to a decentralized wallet, so you can easily manage your key. You can use any type of wallet, including smart wallets, Web3 wallets or paper wallets. Note that this option may not be convenient if you want to frequently trade or use your assets. Be sure to store your private key in a secure location as loss of the key could result in the permanent loss of .
How you can use with BYDFi
Hold
Store in your BYDFi account.
Trade
Trade in spot and futures markets.
Why is BYDFi the best platform to buy ?
Safe and reliable
Millions of global crypto users trust us. Our multi-tier & multi-cluster system architecture and insurance fund protect your account.
High liquidity
BYDFi has highly liquid buy and sell orders for all listed cryptocurrencies, providing a liquid trading experience with tight spreads
Gem cryptocurrency platform
Supporting over 500 cryptocurrencies, BYDFi is the best platform to find your next Gem. You can buy SHIB on BYDFi and use it to exchange other crypto assets.
Friendly interface
Thanks to its simple interface and superior technology, buying on BYDFi is quick and convenient. Buy Coin on BYDFi to receive SHIB
Trade
Answers
Will Shiba Inu Reach $1?
While the Ship Army rallies hard to drive the Shiba Inu price higher, it is doubtful that it could cross the critical $1 level in the future. While taking DOGE to $1 is a crucial movement, its extremely high circulating supply makes it almost impossible for the Dogecoin killer to aim for the same goal.
The Shiba Inu coin was among the strongest performers in 2021, with the SHIB to USD price rising by as much as 46,000,000%. It made several early investors very rich, one of the reasons why its community enjoys such high levels of engagement.
Despite multiple burn events, the Shiba Inu supply remains in the trillions. For the Shiba Inu rate to soar to $1, it would mean that its market cap would have to surge into hundreds of trillions of dollars. This amount would not only exceed that of Bitcoins market cap and that of the overall crypto market but also be well above the global GDP, which sits at under $100 trillion at the time of writing.
Is Shiba Inu a Good Investment?
Its strong preference among traders has also made several businesses worldwide start accepting SHIB as a payment method, alongside BTC and DOGE. Although the current price of Shiba Inu has slipped from its all-time high level, the SHIB token continues to enjoy high liquidity and trading volume, making the most of the FOMO (fear of missing out) sentiment among retail traders hoping to make a quick buck.
On a serious note, however, the developers behind the cryptocurrency have become more committed to driving higher utility and engagement with their community through several announcements. The establishment of ShibaSwap and the upcoming Shiba Inu Games and its very own metaverse will drive up the live Shiba Inu price and value among cryptocurrencies. It could contribute to making it an attractive investment to consider.
The more the number of use cases for the SHIB token, the higher the price of SHIB and its market cap could get. In addition to rising utility, token burn events can also increase Shiba Inus appeal as a crypto asset to invest in. Periodic burns by the Shib Army and other community members help reduce the circulating supply of SHIB coins, creating a deflationary effect and supporting the SHIB price statistics in the market.
How to Burn Shiba Inu Coin?
The highly engaged Shiba Inu community, Shib Army, conducts regular token burn events to reduce the Shiba Inus circulating supply. Such events positively impact the SHIB price, sending it higher for a short while as long as the market sentiment remains upbeat.
Bigger Entertainment is one of the biggest hosts of SHIB burn events, conducting such events around once a month to reduce their max supply and drive up the value of Shiba Inu by sending the tokens to a dead wallet.
Using the Burn feature on ShibaSwap is one way for token burning, and it also provides a way to earn SHIB and grow your crypto portfolio.
How to Burn SHIB on ShibaSwap
1. Connect your digital wallet to ShibaSwap DEX. Supported wallets include MetaMask, WalletConnect, and Coinbase Wallet.
2. Ensure that your wallet is funded with SHIB coins by buying Shiba Inu on BYDFi or other supported platforms.
3. Head to the Burn Portal link at the bottom of the ShibaSwap homepage.
4. Check the total APR on offer and select the number of SHIB tokens from your holdings you wish to transfer to the burn pool.
5. Remember that, unlike the Bury feature, you can never get back the SHIB crypto you contribute to Burn.
6. Sit back and earn passive income by getting rewards in RYOSHI tokens for burning Shiba Inu on ShibaSwap.
How to Earn Shiba Inu on ShibaSwap via Staking
ShibaSwap is Shiba Inu's very own official decentralized exchange (DEX). You can use the ShibaSwap DEX to stake Shiba Inu and burn SHIB to generate attractive returns.
How to Stake or Bury SHIB on ShibaSwap
1. Connect your digital wallet to ShibaSwap. At present, the DEX supports MetaMask, WalletConnect, and Coinbase Wallet.
2. Fund your wallet by buying Shiba Inu on BYDFi or any other platform.
3. Click on the Bury tab to start staking Shiba Inu on ShibaSwap.
4. Check the latest APYs on offer and enter the number of SHIB tokens you wish to bury.
5. Click on Approve to confirm the transaction and sit back to earn rewards for staking SHIB.
