Webull: Shiba Inu Cryptocurrency is Now Available

Webull is currently beta testing a new cryptocurrency called Shiba Inu. Live trading of the Shiba coin in the Webull app is expected soon afterwards.

This post will go over what exactly Shiba Inu is, when it’s going to be available to trade on Webull, and whether or not this crypto coin will replace Dogecoin as the “it” crypto.

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Thank you to Webull for sponsoring this post. Although The Money Ninja was paid for our time, all opinions are our own.

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Webull is beta testing Shiba Inu

As a Webull influencer, I was recently invited to be one of the first people to experience trading Shiba Inu on the Webull app during its beta testing stage.

Shiba Inu has been available to trade on eToro and Coinbase Custody not too long ago, and word on the street is that it will soon (September… cough, cough) see itself listed on Webull.

Ninja Update 9/1/21: Shiba Inu is now available to trade on Webull! If you don’t see it, please update your Webull app to the latest version. The Shiba token can be found by clicking on the ‘Market’ icon and tapping on ‘Cryptos’.

Webull Overview

Webull is a brokerage app that allows you to trade stocks, cryptos, ETFs, options, and fractional shares for free with no minimum balance requirements or fees to open or maintain an account.

I’ve covered Webull extensively on this site and it’s personally one of my go-to stock trading apps.

What is Shiba Inu?

Shiba Inu (ticker: SHIB), also known informally as Shiba Token, is a decentralized cryptocurrency that was created in August 2020 by an anonymous person known as “Ryoshi”.

It has a rather unique short history.

You see, Shiba Inu is a Japanese term for this breed of dog – the same dog that’s depicted on the cryptocurrency Dogecoin (ticker: DOGE).

This wasn’t by accident as Ryoshi champions the Shiba coin as the “Dogecoin killer”. Even though a single SHIB coin is nearly worthless—less than $0.00000758 as of August 24, 2021—but interest in the coin has been surging as it’s being added to cryptocurrency trading platforms.

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Should you invest in Shiba?

As regular readers of The Money Ninja know, I don’t advocate one way or another when it comes to your own investment decisions.

My job is to be fully transparent with you on what I think and disclose what, if any, actions that I take. That’s exactly why I shared my investment of $50,000 in the GUSD stablecoin – it showed you my thought process behind it.

But it’s ultimately your job to do your own due diligence and take actions that you feel comfortable with.

Having said that, it’s too early to say whether or not the Shiba Inu ecosystem, which includes the Shiba coin, the ShibSwap exchange, and the decentralized Shib Army of developers, will be a profitable speculation.

Yes, it’s a speculation at this point and not an investment. You could potentially make a boatload of money, but it comes with very high risks.

For every crypto success story like Bitcoin and Ethereum, there are plenty of others that have ended in the fail graveyard.

Trading cryptocurrency on Webull

Webull launched the ability to trade cryptocurrencies in November 2020 and have been steadily adding new cryptos to trade on its platform ever since.

Currently, you can buy and sell the following cryptos:

• Bitcoin (BTC)
• Ethereum (ETH)
• Bitcoin Cash (BCH)
• Ethereum Classic (ETC)
• Litecoin (LTC)
• Dogecoin (DOGE)
• ZEC (ZEC)
• Cardano (ADA)
• XLM (XLM)

The minimum investment is only $1 and trading cryptocurrencies on Webull is available 7 days a week (trading is unavailable from 5:30pm-6:30pm ET for routine maintenance and account reconciliation).

Related:

• Join Webull & Get 2 Free Shares of Stock

How do you trade cryptocurrency on Webull?

To trade crypto on Webull, you need to have that option added to your Webull account (you’re limited to stocks when you first create an account).

To request permission, follow these steps:

1. Update the app to the latest version
2. Tap on the Webull icon (bottom row, middle icon)
3. Click on the ‘More‘ button
4. Select ‘Crypto Trading‘ to apply

Turnaround time is pretty quick – I was turned on the same day as my request.

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The Bottom Line

Webull allowing users to soon trade Shiba is another indicator that they’re proponents in providing choice for retail investors.

While the SHIB coin may or may not be in your crypto investing plan (or HODL plan for all you nerds), the trading app is letting you decide.

Lastly, I want to give a special thanks to Webull.

They’ve been supporting my site well before it became as popular as it is today. What I really love about them is that they never control or censor my content, I’m allowed to speak my mind freely on the positives and negatives.

It’s rare to find sponsors who give you full editorial control – which is exactly the reason why I turn down over 90% of sponsorships. It’s very important that I’m able to freely express my opinion and share with you everything that you need to know.

What do you think about Shiba Inu?

Is it the next meme coin? Is it really going to be the Dogecoin killer?

Let me know in the comments below!