As digital assets continue to grow in popularity, so too do the methods of storing them. One popular option for storing digital assets is through a Coinbase wallet. But can Coinbase be used to store Shiba Inu?
Shiba Inu is a relatively new cryptocurrency that has gained popularity in recent months. Created in August 2020, Shiba Inu has a native token called SHIB and is often referred to as the “Dogecoin killer”.
While Dogecoin remains the more popular option, Shiba Inu has seen a surge in interest and its price has risen sharply in recent weeks.
So, can Coinbase be used to store Shiba Inu? The answer is yes. Coinbase does support storage of Shiba Inu.
However, it’s important to note that Coinbase only supports storage of the ERC-20 version of SHIB. This means that if you have SHIB tokens on another blockchain, such as Binance Smart Chain, you will not be able to store them on Coinbase.
In addition, it’s worth noting that Coinbase is not an exchange and cannot be used to buy or sell SHIB. For this, you will need to use a dedicated cryptocurrency exchange.
However, once you have purchased SHIB on an exchange, you can then transfer it to your Coinbase wallet for safe storage.
Overall, Coinbase can be used to store Shiba Inu. However, only the ERC-20 version of SHIB is supported and you cannot use Coinbase to buy or sell SHIB tokens.