Nexo, a leading cryptocurrency exchange platform, has unveiled its long-awaited support for Shiba Inu (SHIB), marking a significant milestone in its services. The announcement, made through an X post today, signifies a pivotal moment for Nexo users who can now seamlessly engage in buying, swapping, and sending SHIB within the platform’s ecosystem. However, it’s important to note that Shiba Inu trading remains unavailable in the United Kingdom at present.
Highlighted Features for Shiba Inu
In line with the announcement, Nexo users now have the liberty to acquire Shiba Inu using their bank cards and leverage other assets against SHIB. Furthermore, this recent integration empowers users to effortlessly transfer Shiba Inu tokens to fellow Nexo customers using solely their phone numbers or email addresses.
Moreover, the listing encompasses the ability for customers to exchange Shiba Inu for a variety of other supported cryptocurrencies, including Bitcoin (BTC), Arbitrum (ARB), Ethereum (ETH), and Litecoin (LTC).
Nexo has set the bar low for entry into the SHIB market, allowing purchases for as little as $1 worth of SHIB. As a celebratory gesture for the Shiba Inu listing, the exchange has introduced a lucrative 0.5% cashback in crypto rewards for users who opt to purchase SHIB using their cards or bank transfers.
Nexo Relents to Pressure
This development comes after a prolonged period of advocacy from Shiba Inu enthusiasts, who initiated various online campaigns to capture Nexo’s attention towards SHIB. Notably, an online petition hosted on Change.org in 2021 garnered over 140 votes. Similar campaigns surfaced across different platforms, particularly on X, urging Nexo to integrate Shiba Inu into its offerings. Despite initially overlooking these appeals, Nexo has finally yielded to the persistent calls by adding support for the token.
Established in 2018, Nexo stands as a prominent crypto trading platform catering to a user base exceeding 6 million, facilitating the buying, selling, and swapping of numerous cryptocurrencies. Beyond Shiba Inu, Nexo boasts support for 75 cryptocurrencies, encompassing meme-based tokens like Dogecoin (DOGE) and Bonk (BONK).
Nexo, which claims regulatory licenses across various jurisdictions including the United States, Canada, Hong Kong, Australia, Italy, Seychelles, Poland, and Lithuania, joins the ranks of platforms accommodating Shiba Inu, further amplifying the token’s accessibility. As of February 2024, Shiba Inu had already secured listings across 130 cryptocurrency trading platforms, including industry giants like Binance and Coinbase.
A testament to the vibrant community rallying behind Shiba Inu, the token’s listing on these platforms has been achieved without any financial incentives. Notably, Shiba Inu’s marketing lead, Lucie, disclosed the community’s instrumental role in persuading platforms to list SHIB, exemplified by Robinhood’s decision to list Shiba Inu following a petition that garnered thousands of votes.
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