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How to buy Sanshu Inu tokens online
This beginner’s guide gives you the lowdown on everything you need to know about Sanshu Inu. Learn all about how the coin works, its pros and cons, and compare the best brokers to buy it with.
Compare where to buy Sanshu Inu, and open an account
To get Sanshu Inu coins right away, use one of the platforms below. These are the best brokers as chosen by our crypto experts, who have reviewed and compared them all. To learn more about Sanshu tokens first, scroll down to keep reading.
What is Sanshu Inu?
A cryptocurrency that is primarily used as an asset to trade online. Like a number of other cryptocurrencies, most notably Dogecoin, it’s named after a dog and inspired by an online meme. Anyone who holds Sanshu tokens is paid a reward every time anyone makes a transaction.
Sanshu Inu was created in May 2021 when it launched its coin onto the market. Its main distinguishing feature, aside from a cute dog mascot, is a focus on complete decentralisation and the power of the community. It has put in place transaction limits to prevent one person buying up too much of the total supply.
How does Sanshu Inu work?
Just like many other cryptocurrencies in that it tracks and stores the movement of money using a public ledger known as a blockchain. The blockchain plays the role of a bank, so it checks who owns what and approves any transactions that are made.
Sanshu Inu is a deflationary coin, which means that the total supply is constantly decreasing. It does this by charging a fee on every transaction and ‘burning’ (destroying) 1% of it each time. In the long run, that should increase the value of the coins by limiting supply.
Another 1% of the transaction fee is paid out as a reward to anyone who owns Sanshu tokens. In theory, to act as an incentive for people to hold on to their coins and reduce volatility in the price.
How to buy Sanshu Inu online – a step-by-step guide
Step 1. Find an exchange
A cryptocurrency exchange is the best place to buy Sanshu tokens. The exact features of each exchange varies from platform to platform, but as a collective they offer all the coins you might want to own at the best prices. A couple of the top exchanges around are:
- Binance: Binance deals with the highest trading volume of any exchange in the world. It has lots of beginner-friendly features, like a trimmed down mobile app with only the most important functions, and an entire academy full of information. Sign up with Binance >
- Kucoin: Another exchange that’s geared towards new users, Kucoin provides a wealth of information to help you get started with cryptocurrency. Along with that info is a huge range of coins and tokens. Join Kucoin now >
Step 2. Sign up and fund your account
Before you can use a crypto exchange you have to create an account. You’ll be asked to supply some contact details and a form of ID to verify the account, and the verification process may take a few minutes. Then fund the account with a deposit via bank transfer or credit/debit card.
Step 3. Purchase
Look for Sanshu tokens on the exchange by searching for its ticker, SANSHU. The list of pairs available represent all the options you have to pay for the coins. At the moment, none of them include fiat currency (like GBP or USD). Instead, you have to use another cryptocurrency, like Bitcoin. Then choose how many coins you want and execute the trade.
Step 4. (Optional) Get a suitable wallet
Now that you have your new coins, you have to decide where to keep them. One option is to leave them into your exchange account, but a more long term solution is to use a crypto wallet. These are like banking apps that you can use to manage your coins through your phone or online. Here are two top options available:
- Ledger Nano S: The Ledger Nano S is a hardware wallet that comes in the form of a USB stick. You access your coins by plugging it into the computer. Get the Ledger Nano S today >
- FreeWallet: FreeWallet is an online wallet that you can use to access your coins either via the web or through a mobile app. It marries convenience with security to make it a great storage choice. Join FreeWallet now >
How to trade Sanshu Inu – a step-by-step guide
Step 1. Find a broker
A broker with low trading fees is the best place to trade Sanshu tokens. When you trade you want to be able to make a lot of moves whenever you want, and high fees can make the process very expensive.
Right now, Sanshu isn’t available with a broker. This is normal, as coins tend only to be added once they hit a certain level of popularity. If it continues to grow over time, then the first broker platform to add it is likely to be eToro or Robinhood.
Step 2. Deposit money
You have to create an account and fund it to be able to use a broker. The best payment method is usually a bank transfer or debit card, while alternative options like PayPal tend to be more expensive. Whichever method you choose is likely to come with a fee of some kind and it’s worth comparing the fee structure of different platforms before you start.
Step 3. Decide how you’d like to trade
Most traders use contracts for difference (CFDs) or spread betting to try to make a profit from cryptocurrency. Each method has its own pros and cons but both are about speculating on price moves rather than owning any coins yourself.
Step 4. Start trading
The place to start as a new trader is with a demo or virtual account. These are features offered by your broker in the settings that let you flick a switch and trade with ‘fake’ money. It can be a good way to get used to the market without putting your real capital at risk.
When it comes to deciding how a coin is going to perform, use your own research and the latest news to influence whether you take a long (buy) or short (sell) position.
Later, as you gain more experience, you might want to introduce more advanced strategies into the bargain. The most common is ‘leverage’, where you borrow money from your broker to make trades that are many times the value of your initial deposit. Be warned: this is a much riskier strategy than regular trading and should be treated accordingly.
To help you choose whether Sanshu Inu is the right choice, here is a list of all the coin’s pros and cons. Afterwards, find some more discussion over whether now is the right time to get it and what you can expect from the future.
- Sanshu is a relatively cheap coin that you can get lots of
- Other, similar, coins have seen returns many times their original value
- It’s a fun and vibrant community to be part of
Now here are three final questions to help you decide whether to invest in Sanshu Inu.
1. Is it a good time to buy Sanshu Inu?
That depends on how long you want to hold it for and your level of expertise. If you’re looking long term and expect the price to grow over time, then it might be a good spot to get in at, you just might have to do some shopping around to find a platform that offers it.
If your focus is more short term, then you want to consider the current price, the latest news, and your own analysis of its performance. You can use that analysis to identify the right time to make a move, or use the work done by our crypto experts to help you:
2. What problem does Sanshu Inu solve, and what are the coin’s investment prospects?
Like many of its dog-meme-coin cousins, Sanshu isn’t designed to solve a specific problem. Its main feature is the fact it’s completely decentralised and restricts the ability of any one person to own too much of it.
Instead, its purpose is to be a bit of fun. It’s best to treat it like that and to invest small amounts if you do decide to get involved. There are a number of these coins available now – including the likes of Shiba Inu and Baby Doge, as well as Dogecoin – all playing a similar role.
That clouds the prospect for major success but it is true that this type of coin can and has multiplied many times its original value in the past. One of the most important parts of owning a coin like this is staying on top of the news, because things can move fast and small cryptos can be extremely volatile. Use the links below to do just that.
The best platforms to buy Sanshu Inu coin online: the next Dogecoin?
3. Do you want to hold Sanshu Inu for the long term?
There are times when it’s a good idea to hold for a while, and others when you should think of the short or medium term. Ultimately it depends on what type of investor you are. Below is a quick summary of the most important things to know for each strategy.
Considerations for a long term investment strategy
Investors who expect Sanshu to grow in value over time should pick an exchange and get some coins right away. Shop around for the best price and think about getting a wallet to store the new coins in.
Considerations for a short term trading strategy
A short term approach means focusing more on the technicals by analysing price charts and trends. Then find a broker that charges low trading fees so that you can trade CFDs and speculate on future price moves.
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