Shiba Inu (SHIB) is the newest addition to CoinGate. This means that every CoinGate user, from merchants to traders to gift card purchasers, may now accept, buy, trade, or spend SHIB on the items they desire.
Anyone who possesses SHIB will have more options for spending it, and those who wish to own this charming meme-coin will be able to do so at a 1% discount.
What is Shiba Inu?
Ryoshi, a pseudonymous creator, invented Shiba Inu in August 2020. The token takes inspiration from Shiba Inu dogs, as the name indicates.
Shiba Inu is an Ethereum-based ERC-20 token. It implies that Shibu Inu works on the Ethereum blockchain rather than having its own blockchain.
According to the Shiba Inu white paper, or “woof paper,” as the community likes to call it, Ryoshi opted to launch Shiba Inu on Ethereum because it is “already safe and well-established.”
Shiba Inu supporters consider it to be a viable alternative to Dogecoin; in fact, they refer to it as “the Dogecoin killer.” Shiba Inu and Dogecoin are meme coins. Meme coins are cryptocurrencies connecting to a theme—in the instance of Shiba Inu and Dogecoin, the Shiba Inu dog. They are usually a parody or inside joke rather than a digital commodity with genuine use.
What is CoinGate?
CoinGate, established in 2014, has headquarters in Vilnius, Lithuania. The firm is a cryptocurrency payment gateway that allows many companies all around the world to accept Bitcoin.
CoinGate already serves over 4,500 commercial clients and has over 80,000 registered users. It delivers payments in Euros for a flat 1% charge and removes any risk connected with cryptocurrency price fluctuations. Their merchants can also choose to hold the earnings in cryptocurrency, allowing for a variety of withdrawal options.
Aside from crypto payment processing, CoinGate also allows customers to buy and sell cryptocurrencies on their site. Customers can also buy over 1,000 gift cards from different retailers.
What does this imply for the Shiba Inu community?
First, SHIBs’ integration with CoinGate services may cheer up the already-excited Shiba Inu community, as more than 500 CoinGate businesses may now accept Shiba Inu payments from their customers.
Second, Shiba’s integration with the CoinGate trading system will allow customers to buy SHIB with a 1% commission.
Finally, by including the Shiba Inu token into the CoinGate gift card shop, CoinGate becomes one of the only crypto gift card providers that allow the purchase of common needs with this altcoin.
CoinGate CEO Dmitrijus Borisenka remarked on Shiba Inu’s integration with CoinGate
“Every crypto deserves its chance to become a paying currency, therefore integrating Shiba Inu is a fascinating step for our community, Shiba Inu and Dogecoin have been the most popular meme coins of 2021. They both have huge support from the community, which is built around the tokens, and they both gained their popularity from the hyped-up social media posts. Oh, also, they’re the same breed of dog”.
Dmitrijus Borisenka
Also read: Solana VS Ethereum: Is Cheap Transaction Enough to Beat Ethereum?
