Perhaps the most typical example of the “wildness” of the crypto industry was the unprecedented rise of meme coins in 2021— particularly DogeCoin and Shiba Inu. While you may have heard these names as these coins gained immense popularity during the year — with Doge ranking as one of the most searched cryptocurrencies all year round — there has been a myriad of meme projects flooded into the cryptocurrency markets. One of such is KISHU INU.
Due to the fact that many of these projects (such as KISHU) are still in their infancy, they are not readily available for purchase on large cryptocurrency exchanges such as Binance or Coinbase – thus, necessitating a few additional steps.
In this piece, we take you through every single step involved in buying KISHU tokens.
What is KISHU?
To understand the KISHU project, let us first take a look at the rise of meme coins, as we highlighted. Meme coins, as the name implies, are crypto implementations of popular internet memes. While this may sound a bit preposterous, it really has become a thing in the cryptocurrency, thanks to many Elon Musk’s tweets about DogeCoin in 2021. Since then, meme coins have gained tremendous traction, driven mainly by the backing from crypto communities and no specific utility.
Dogecoin started out as a joke in 2013, only to be ranked amongst the top ten coins eight years later. More astonishingly, Shiba Inu then started out in 2020 as a mockery to DogeCoin and also ranked in the top ten spots in 2021 – both reaching and maintaining incredible price heights in the year, all driven by its community.
KISHU, however, is a community-based decentralized ERC-20 based token looking to set itself apart from other meme coins by offering utility – primarily NFT rewards to its holders. Launched in April 2021, the meme coin has enjoyed increasing popularity amassing over 100,000 holders since then and reaching an all-time high of $0.00000002 in just one month.
The KISHU project offers holders of its tokens a range of use cases, recently launching its NFT marketplace known as Kishu Crate with a distinguishing feature that supports staking. Users of Kishu Crate can stake WETH to earn points that can be used to mint new NFTs. Additionally, the project developers have also introduced Kushiswap – the project’s decentralized exchange (DEX), supporting multiple features, including asset swapping and liquidity provisioning. All of these create a continuous demand for the Kushi token, thus, helping to keep the price afloat in addition to the backing of its community.
Now we take a look at just how you can purchase your $KUSHI tokens.
Step 1: Register on Fiat-to-Crypto Exchange
As mentioned above, KISHU is not yet listed on any popular exchanges so you will have to purchase readily available coins like Bitcoin and Ethereum – the two largest cryptocurrencies by market capitalization. Bitcoin, for instance, can be purchased on any mainstream crypto platform that supports fiat-to-crypto conversion after successfully registering on the platform. Identify a suitable cryptocurrency exchange of your choice and follow the platforms’ registration processes and requirements.
One thing to keep in mind is that some platforms require a Know-Your-Customer (KYC) verification process before you can start making any transactions. Ideally, KYC processes demand you to present a genuine form of identity (usually an international passport or a driver’s license); hence, be sure you have acceptable credentials on hand.
Step 2: Buy BTC with fiat money
After successfully completing your registration process, you can now make your BTC purchase in a few simple steps. There are many cryptocurrency exchanges to choose from, as we stated in the earlier paragraph; however, for easy conversion and a seamless trading experience, it is important to choose an exchange that supports and facilitates easy fiat-to-crypto exchange.
For example, the CryptoWallet exchange allows you to purchase BTC directly on its platform using your debit card – providing a very familiar experience as simple as making an order for a box of pizza with your card.
To purchase Bitcoin (BTC) through CryptoWallet requires only three simple steps. Simply deposit a fiat currency (such as USD) into your account via bank transfer or debit card. After that, go to the CryptoWallet cryptocurrency exchange to see the current trading value of BTC, then input the amount you want to buy and confirm the price.
Step 3: Transfer BTC to an Altcoin Exchange
With your Bitcoin (BTC) deposited and sitting in your wallet, we proceed to the next step – transferring your coins to an altcoin exchange.
Why do we need to do this? For the same reason why we first needed to purchase a major cryptocurrency like Bitcoin. KUSHI, like many other altcoins, are not listed on major exchanges; hence, they need to be transferred to an altcoin exchange where they are listed.
Similar to mainstream crypto exchanges, there are a host of altcoin exchanges available. Some of the popular exchanges for trading altcoins include HotBit, Gate.io and Huobi Global – all with a few distinct characteristics that set them apart from one another. We recommend doing your own research and identifying an altcoin exchange you are comfortable with.
On any of these exchanges, you will be required to undergo a second registration. Not to worry, it is as seamless as the one you carried out earlier. Upon completion of your registration, you will need to identify the cryptocurrency you purchased (BTC in this case) on the new altcoin exchange.
Most exchanges will have a visible “deposit” button on their platform next to “Bitcoin”, so look out for that and click it. You will be issued a unique Bitcoin wallet ID on the new exchange. Navigate to the crypto exchange where you bought your BTC, input the wallet address and click “Send”.
If you purchased your BTC on CryptoWallet, all you have to do is choose the cryptocurrency you want to transfer (Bitcoin in this case), the quantity of BTC you want to send, input the Bitcoin wallet ID you obtained from the altcoin exchange, confirm the transaction, and wait for your BTC to appear in the new exchange. Here is a step-by-step guide on CryptoWallet.
In a matter of minutes, you will receive your BTC in your wallet on the altcoin exchange. You can go ahead to purchase your Kishu tokens by simply searching for the “BTC/KISHU” pair on the exchange, select the amount you intend to purchase and select “Swap.”
Last Step: Store KISHU securely
At this point, you have successfully acquired your Kishu tokens and are fully at your disposal. However, it is best to consider your preferred option of storage to ensure your tokens are protected from theft. Hence, we look at the best and safest method of storing your Kishu tokens.
Hardware wallets are the best option for offline security of your crypto assets as they are continually disconnected from the internet – hence, reducing the window of opportunity for malicious hackers. The primary downside to this type of storage solution is that they are less convenient than hot wallets, which are always online and offer easy accessibility to your tokens. For example, although CryptoWallet does not store KISHU, it provides on-the-go accessibility to 5-high cap cryptocurrencies amongst order features such as card services that enable users to spend their cryptocurrency as cash.
Ledger Nano S and Nano X are industry-leading offline hardware wallets that support a wide range of currencies and only goes online when you want to trade your cryptos, making them more secure and less susceptible to hacks.
Other Useful Tools for Trading KISHU
Due to the decentralized nature of cryptocurrency, users are entirely responsible for safeguarding their funds. While employing a hardware wallet secures your cryptos, trading with an encrypted VPN connection makes it more difficult for hackers to intercept or eavesdrop on your critical information. This is especially true when trading on the move or using a public Wi-Fi connection, as these are easy targets for malicious hackers.
Can I buy KISHU with cash?
No! KISHU is not listed on many exchanges therefore the best course of action is to acquire Bitcoin on a reputable exchange like CryptoWallet and then move the funds to an alternative cryptocurrency exchange like Hotbit.
Are there any quick ways to buy KISHU in Europe?
Banks in Europe (such as Bunq, Revolut and N26) have online platforms that offer a fast and easy way to purchase cryptocurrencies, enabling anyone living in Europe to open an account and transfer money to select exchanges such as Coinbase.
However, you would still be required to transfer your purchased asset to altcoin trading platforms where KISHU is listed.
Are there any alternative platforms to buy KISHU or Bitcoin with credit cards?
Yes! There are platforms like Changelly that support purchasing BTC with credit cards. Once this is done, you can then transfer to your preferred altcoin exchange to buy KISHU tokens.