CoinSwitch Exchanges Lists Memecoin Shiba Inu Coin.

CoinSwitch Exchanges Lists Memecoin Shiba Inu Coin.

2021-12-31 | Daniel Smith

CoinSwitch Exchanges Lists Memecoin Shiba Inu Coin.

CoinSwitch Kuber, a cryptocurrency investment software, revealed on Thursday that it has added the famous meme coin Shiba Inu (SHIB) to its trading platform. The firm also included a riskometer tool, which tells consumers about the level of risk connected with investing in a specific currency.

CoinSwitch, India's biggest crypto firm with nearly 14 million customers, has launched over 80 currencies in the last 18 months.

"Demand for Shiba Inu has increased, and numerous of our customers have requested that we publish the coin on the exchange." Even though we respond to this need, as a reputable exchange, we have put in place precautions to safeguard our investors," stated Ashish Singhal, CEO, and Founder of CoinSwitch.

Shiba Inu coin, named after a Japanese hunting dog species, is the globe's 13th largest crypto asset, with a market valuation of more than $18 billion.

Shiba Inu currency, established in August 2020 by an unidentified individual identified as Ryoshi, has a minuscule price of $0.000034, allowing investors to possess billions, if not trillions, of this coin. This meme cryptocurrency now has roughly 549 trillion coins in existence.

The coin is based on the Ethereum blockchain and has over a million supporters worldwide. Shiba Inu was registered on Coinbase, America's biggest cryptocurrency exchange, in September.

Shiba Inu is a meme coin, which means it is connected with some topic, generally as a jest instead of a genuine commodity. As a result, it is very unstable and a dangerous asset to deal with.

CoinSwitch's riskometer function, as per the firm, delivers a danger alert on coins that are extremely volatile or when the firm believes consumers should continue with care when investing. "The aim is to educate our people while they engage with us," Singhal explained.

CoinSwitch Kuber secured $260 million in Series C fundraising in September from Coinbase Ventures and Andreessen Horowitz (a16z) to emerge as India's most valuable crypto startup, valued at $1.9 billion.

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