Hi,
I am sort of new to investing and have some funds to invest. Dogecoin and Shibacoin have been going through much hype in 2021 so I am thinking of purchasing some of this new coin ShibaDoge. But I am a little confused, if I do purchase it by exchanging it through ETH and then later on I want to sell it, how do I sell it? Do I have to physically find someone who wants to buy it off me?
Thanks
If you really want to buy into that coin then you just buy it through one of the decnetralized exchanges out there. For example there is uniswap for tokens on the Ethereum-chain or pancakeswap for the Binance smart chain. If the token that you want to buy is avialable on both networks then i would choose to use the Binance smart chain because there the fees for a trade are only a few cents while it is possible that you are paying 20$ dollars or even more for the trade on the Ethereum chain. If you want to sell later you just do the same action again only that you sell and not buy the coin this time.
That being said, my recommendation would be to not invest into sh*it-coins (meme-coins) the hype is pretty much over and 99% of them will be completely dead in a few months.