Shiba Inu vs Bitcoin
This post contains affiliate links. Please click here for our Affiliate Disclosure Page.
Shiba Inu’s market surge in the year 2021 has left many crypto investors stunned. It came as a shock when Shiba Inu surpassed the wolds most ancient crypto, Bitcoin in terms of view which it was able to grab 43 million more views.
The crypto constantly made headlines after this. It has risen to become the 11th most valuable cryptocurrency in terms of market capitalization. The surprising increase in the popularity of Shiba Inu led us to find the comparisons between the two cryptos. It will be quite a competition, one being the world’s first crypto and the other, a popular meme token.
Do take a look at the differences or similarities if any between Bitcoin and Shiba Inu below to determine which cryptocurrency is superior.
The background of Shiba Inu
The story behind the formation of Shiba Inu has quite a similarity with that of Bitcoin with a little more twist. Bitcoin was formed under the pseudo name Satoshi Nakata, which for a fact can be either an individual person or a group.
Soon after its formation, Satoshi Nakata left it to grow. Similarly, Shiba Inu was founded in the year 2020 by Ryoshi, an unidentified person. The interesting fact is that it was first built as a prank bearing the tag “Dogecoin killer”. It also features a Shiba Inu theme, named after the Japanese dog breed of the same name.
According to the official website, it is a decentralized meme token that has blossomed into a thriving ecosystem. Shiba Inu is more than just a clone of a Dodge coin. SHIB is based on the Ethereum network, making it more versatile than Bitcoin. Shiba Inu also launched Shibswap, a decentralized exchange. SHIB provides incentives to DEX users. People who use this can sell a large number of ERC 20 tokens. Customers can trade, send, and store SHIB on the US-based coin platform, according to the company
Bitcoin: The beginning of cryptocurrency
Bitcoin is the first cryptocurrency and, without a question, the most well-known token in the world. It has dominated that sector since the publication of its white paper in 2009, authored by the enigmatic Satoshi Nakamoto, and is almost solely responsible for putting blockchain on the map.
By today’s standards, Bitcoin’s original mission was fairly straightforward. It aimed to create a decentralized payment system that could operate securely without the involvement of a third party, such as a bank or government agency.
Bitcoin has earned a reputation for producing massive investor returns since its creation, and for good reason. BTC was valued almost to nothing when it first began trading, but by 2013, a single Bitcoin token was worth more than $1,000. Fast forward to today, when one entire BTC token costs $43,000. Those who choose to invest early on have obviously done extremely well.
Shiba Inu vs Bitcoin Use Cases
Because Shiba Inu lacks its own chain, most of its applications are limited to the Ethereum network. SHIB mostly finds its use as a means of payment. While not many stores presently accept SHIB as payment, a few do. Consulting firms and clothes stores are among the places that accept payment. If SHIB becomes more popular, more merchants may begin to accept it as a means of payment.
Bitcoin has its individual network and is used to power a wide range of functions. It is also meant to be used as a payment method, but due to its size, it is only used in considerably bigger transactions.
Top Crypto Exchanges For Bitcoin and Shiba Inu
Here are our picks for the best exchanges to trade these coins:
FTX US – Get 5% discount on trades.
Gemini – Get free Bitcoin with sign up.
KuCoin – Get 10% off trading fees through our link.
Which has a better future, BTC or SHIB?
SHIB has more room to grow based just on market capitalization. Its market cap of $11 billion pales in comparison to BTC’s $1 trillion. If investors continue to shift their funds into SHIB, prices may rise much further. However, this shift is exceedingly unlikely.
In terms of future usage and adoption, BTC is far more likely to be on the top Corporations and institutions are already utilizing it. It also supports a far larger number of transactions than SHIB. Bitcoin may be a superior long-term investment to SHIB.
Platforms are unsure what to make of Shiba Inu, which began as a self-proclaimed ‘Doge Killer’ but has already evolved into a full-fledged DeFi project with a DEX and liquidity pool access.
Which is a better investment, Bitcoin or Shiba Inu?
It is hard to say which platform is better for investment. Bitcoin has a long history and is far more well-known and continues to dominate the market on a scale that no other project can equal.
On the other hand, Shiba still has to cultivate a loyal audience in the sense. Shiba Inu’s sudden surge in the market no doubt shows its potential, however, we have to keep in mind that the crypto market is volatile and this fact holds true for all the available cryptocurrencies.
On the plus side, per contra, the crypto world is evolving rapidly. DeFi is growing increasingly popular and Shiba being one has the capacity to grab attention.
Bitcoin currently is trading only because of its name and popularity. From a technological standpoint, Bitcoin is old, and if it can bring about positive changes, maybe it still can reign the crypto territory.
When it comes to investment, Bitcoin and Shiba Inu are two distinct cryptocurrencies that are each distinctive in their own way. Shiba Inu is a far more speculative investment. Bitcoin is the most popular cryptocurrency, and businesses and institutions have begun its usage. Making an investment solely depends on one’s understanding of the market.
If you blindly invest and lose, no matter how much you blame the system, it still is not at fault. Before investing your hard-earned money, study and do a thorough analysis, because until and unless you are an expert in such a fragile market, it is unwise to gamble away the money. It is also a good idea to seek professional advice before you start investing in cryptos.
For a deeper dive into Shiba Inu, look over our other article: Shiba Inu vs Ethererium.