Attention SHIBArmy! Shiba Inu (SHIB) joins the lineup of coins now available at BitPay. Now you can buy, store, swap and spend with this Ethereum ERC-20 token directly in the BitPay app.
What is Shiba Inu (SHIB)?
Anonymously created in August 2020, the decentralized meme token is another token inspired by the Japanese dog breed Shiba Inu. The token has recorded the greatest increase in value and popularity in 2021 of all the cryptocurrencies thanks to its community of supporters, the SHIBArmy. Unlike other cryptocurrencies, SHIB was built with a total supply of one quadrillion, so investors of SHIB can hold up to trillions in their wallets. The token has evolved into the Shiba Inu ecosystem called ShibaSwap, a decentralized exchange on the Ethereum network. SHIB has two sibling tokens, Leash and Bone.
Why is Shiba Inu Popular?
The meme token’s quick rise to popularity is primarily due to its community of supporters and their use of hashtags on Twitter. Popular hashtags include #SHIBArmy, #ShibaInuCoin, #SHIB, and more.
Shiba Inu has hit major milestones these past few months. They were the second top cryptocurrency mentioned on Twitter in November 2021, and even reached #10 on the top 10 of cryptocurrencies list for a brief period. The coin also sees spikes every time Elon Musk tweets a picture of a Shiba Inu dog.
How do I Buy Shiba Inu (SHIB)?
Buying Shiba Inu in the BitPay app is safe and easy.
- Select “Buy” in the BitPay app home screen.
- Enter the amount of dollars you’d like to convert to SHIB.
- Select Shiba Inu coin and your preferred payment method, then tap “View Offers”
- Choose from one of our competitive offers and tap “Buy”. Complete the transaction in our partner’s payment portal.
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Shiba Inu Accepted as Payment Option
Newegg and AMC Theaters have announced that they will be accepting Shiba Inu as a form of payment using BitPay in the upcoming months. Newegg announced their acceptance of this token with the debut of the largest digital-out-of-home (DOOH) Billboard in Downtown Los Angeles. As the first major eCommerce company to accept Bitcoin, Newegg is not new to accepting crypto as payment.
AMC Theaters CEO, Adam Aron, took to Twitter to allow his followers to vote if AMC Theaters should accept Shiba Inu. 81.4% of voters said yes to accept the token as a payment option. This vote came after their announcement in October 2021 that you will be able to buy gift cards with your crypto.Related: What can you buy with cryptocurrency?
Start Spending Shiba Inu with the BitPay Card
Like traditional debit cards, the BitPay Card can be used wherever MasterCard is accepted. The only difference between a traditional debit card and our crypto debit card is that instead of pulling funds from a bank account, you load the BitPay card from a crypto wallet. So start spending your Shiba Inu and other cryptocurrencies. Here’s how:
- Download the BitPay App.
- Sign up for the BitPay Card. Approval takes less than 5 minutes, and a virtual card is available immediately after you’re approved.
- Load the card from any compatible wallet.
- Start shopping. Use the BitPay Card at Walmart checkout like any other debit card. The card can be used at physical Walmart locations or for online purchases.
Use Shiba Inu to Buy Gift Cards in the BitPay app
Another way to spend your Shiba Inu is through gift cards. BitPay lets you buy gift cards with crypto to use at hundreds of shops and businesses. Then, easily spend crypto right from the BitPay Wallet or any connected crypto wallet.
- Download the BitPay app.
- Connect any compatible wallet. BitPay connects to all popular wallets, including Coinbase, Electrum, Trust, Kraken, Metamask, and many more.
- From the home screen, select Shop, and start shopping. Once you’ve selected a store or business, enter the amount of crypto you’d like to turn into credit and choose your preferred wallet/asset. Once the transaction is complete, a virtual gift card will be generated in the BitPay app.
- Start shopping and use your new gift card at checkout.
Use the BitPay Crypto Extension to Fund New Gift Card Purchases
- Add the BitPay Extension to your Chrome browser.
- Sign in with your BitPay ID.
- Click on the Shopping Cart icon for a full list of gift cards available for purchase.
- Click on the shop, then click Buy Credits. Next, enter the amount of crypto you’d like to turn into cash and select your preferred wallet/asset. Once the transaction is complete, a virtual gift card will be generated and stored in the BitPay Extension.
What Stores Accept Shiba Inu (SHIB) Payments?
Plenty of forward-thinking eCommerce shops and stores already do. Some popular shops include Newegg and AMC Theaters. Other merchants will automatically be able to accept SHIB as of 12/08/21. Visit BitPay’s Merchant Directory for a curated list of major companies that accept crypto.