Cryptocurrencies can be exciting, but they also carry risks. Shiba Inu (SHIB), one of the most popular tokens, attracts millions of investors worldwide. Unfortunately, beginners often make critical mistakes that lead to losing money.
This guide explains what you should NOT do when buying SHIB (or any crypto), so you can protect your funds and make smarter investment decisions.
❌ 1. Don’t Buy Without Research.
Jumping into SHIB just because of hype is one of the biggest mistakes.
- Always check the project fundamentals, market trends, and trading volume.
- Follow updates from reliable sources instead of social media rumors.
📌 Tip: Research before you buy—knowledge is your best defense.
❌ 2. Don’t Use Untrusted Platforms.
Some websites or apps promise cheap SHIB but are actually scams.
- Only buy from trusted exchanges like Binance or Poloniex.
- Avoid P2P deals with strangers unless you’re experienced.
❌ 3. Don’t Invest More Than You Can Afford.
Cryptocurrency is volatile. Prices can swing up or down quickly.
- Never invest rent, savings, or emergency funds.
- Treat SHIB as part of a diversified portfolio, not your entire wealth.
❌ 4. Don’t Skip Security Measures.
Many investors lose money because they ignore security basics:
- Always enable Two-Factor Authentication (2FA).
- Avoid weak passwords.
- Don’t share your login information.
❌ 5. Don’t Leave All Funds on Exchanges.
Exchanges are secure, but they are not risk-free. Hacks can happen.
- For long-term holding, transfer your SHIB to a noncustodial wallet (like Trust Wallet, MetaMask, or a hardware wallet).
👉 Remember: Not your keys, not your coins.
❌ 6. Don’t Panic Sell or FOMO Buy.
- Selling in panic during a dip can lock in losses.
- Buying too quickly when hype peaks can leave you trapped at high prices.
Instead, make decisions with a clear strategy and patience.
❌ 7. Don’t Ignore Fees.
Using cards or small trades without checking fees can reduce your profits.
- Always compare exchange fees.
- Consider if bank transfers or stablecoins give you better rates.
Conclusion
Buying Shiba Inu (SHIB) can be safe and rewarding—if you avoid these common mistakes.
- Do your research.
- Use trusted exchanges like Binance and Poloniex.
- Protect your funds with security and proper storage.
👉 Follow these rules, and you’ll reduce risks while building your crypto journey with confidence.