Want to jump straight to the answer? You can buy KISHU by buying ETH on an exchange like eToro and swapping it on Uniswap.
As 2022 draws to a close, you would probably agree that dog-related cryptocurrencies are still riding high on crypto exchanges and in digital wallets. The wave was headed by Dogecoin (DOGE), a memecoin based around dogs. Since then, more and more memecoins surrounding dogs have popped up. Tokens like Shiba Inu (SHIB) and Floki Inu (FLOKI) have seen enormous gains and made many investors wealthy. Now, investors are hoping to find the next dog-related memecoin to blow up. But, how has the crypto space been impacted by these tokens, and what should investors with crypto wallets full of Kishu Inu’s tokens do about these investments going forward.
What Is Kishu Inu (KISHU)?
Kishu Inu is an ERC-20 based on the Ethereum network. Many virtual currencies known as ”memecoins” use the ERC-20 standard since the powerful Ethereum blockchain makes it fairly easy to create new tokens. As of right now, the token is primarily used as a form of payment, but developers are hoping to change this by adding more uses.
One of these uses is a non-fungible token NFT platform. The project recently unveiled “Kishu Crate,” the project's NFT marketplace. One way the platform differs from other NFT projects is that it offers staking. Users can stake Wrapped Ethereum (WETH) to earn points that can be used to create new NFTs. In this way. the project incentivizes holding the token.
Another way users can be rewarded for holding the token is through usage rewards. The Kishu Inu platform stores 2% of all transactions and redistributes them to users who are holding the token in wallets. This practice allows 200,000 holders to earn rewards on their investment.
One way that Kishu Inu developers attempt to uphold the value of the token is through burning. A portion of all transactions are sent to a burn wallet where the tokens are permanently taken out of circulation, which should, in theory, create more buying pressure for the coin. However, this practice doesn’t guarantee the price of the token will continue to increase.
Another feature of Kishu Inu is KishuSwap, the project's native decentralized exchange (DEX). The DEX allows multiple functions, including liquidity providing and swapping. Users can swap their KISHU tokens for other cryptocurrencies. Users can also add liquidity to the DEX and earn rewards for doing so.
Brief History of Kishu Inu (KISHU)
Kishu Inu was launched in April 2021 with the hopes of changing the memecoin space. Through strong marketing campaigns early on, the coin quickly became popular. Within several months, the token quickly amassed over 100,000 holders.
Currently, the token is lingering well below a penny, but it could gain steam at any time—or fizzle out. Only time will tell.
How to Buy Kishu Inu (KISHU)
Now that you understand the basics of Kishu Inu, you may be interested in purchasing the token. Fortunately, doing so is fairly easy and only involves a few short steps.
- Open an online account.
Since you cannot buy KISHU directly from a trading platform, you need ETH or other currency to swap with it. To obtain ETH, you need an account on a crypto brokerage. We recommend Coinbase Global Inc. (NASDAQ: COIN), Gemini, Voyager and eToro as they are easy to use, have low fees and are secure.
Opening an account is fairly simple and only requires an email and password. You have to verify your account with basic personal information. Then you can fund your account and purchase ETH.
- Buy or download a wallet.
You need a wallet to obtain KISHU as it is not listed on any centralized exchanges. Due to this, you'll need a cryptocurrency wallet to exchange ETH tokens for KISHU on a decentralized exchange, such as Uniswap. You can choose from 2 main types of wallets: hardware and software. Wallets can be useful for buying tokens that are not as popular and safely storing assets.
- Make your purchase.
Once you have ETH in a centralized exchange, you can send it to your wallet address, which is usually a long string of numbers and letters. Once your ETH is in a wallet, you can connect to a DEX such as Uniswap or SushiSwap. Once it's connected, select the ETH/KISHU pair and enter in the amount of KISHU you would like to purchase. Execute the trade, and your KISHU should appear in your wallet. Remember, you'll need around $100 in Ethereum to pay for network fees!
Cryptocurrency Wallets For Kishu Inu
Best Hardware Wallet: Ledger
Ledger is a brand of hardware wallet that is known for its security. For the wallet to be accessed, the physical device must also be present. As of right now, Ledger offers 2 models.
The Nano S is more suited for beginners and only offers basic functions. However, it is still a viable option if you are looking to purchase altcoins.
The Nano X is for more advanced users and offers a variety of features including more storage space.
Best Software Wallet: Coinbase Wallet
Coinbase offers a free wallet service that allows users to store crypto safely. You do not need a Coinbase account to obtain a wallet, and hundreds of cryptocurrencies are offered. Coinbase Wallet is a great option for those looking to make quick transactions.
Keep an eye out for centralized exchanges listing KISHU. This major goal for the project may make the token more accessible.
Trade, Sell or Convert your Kishu Inu (KISHU)
To sell your KISHU, navigate back to the exchange and select the KISHU/ETH pair. Enter in the amount of KISHU to swap and execute the trade. You can then send your ETH back to a centralized exchange and sell it for fiat (USD) there.
- securely through eToro's websiteBest For:Demo Accounts
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Current Crypto Prices
Many memecoins saw huge price increases in October 2021. However, this momentum did not necessarily carry over into November, and quite a few memecoins saw varying levels of pullbacks.
No one knows where the memecoin market will go, and all trades should be made with risk tolerance in mind. If you want to see the prices of major altcoins and memecoins, take a look at Benzinga’s up-to-date price chart.
Is Kishu Inu (KISHU) a Good Investment?
As of right now, Kishu Inu is a completely speculative investment. While it has released some useful features, a lack of adoption and a platform that doesn’t innovate upon already existing platforms affect its value. If more people begin to use its DEX and NFT platform, there is certainly room for growth, but the project will need to add differentiating factors if it hopes to drive more adoption.
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