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Risk Warning - Notice to UK Users  

Estimated reading time: 2 mins

Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.

What are the key risks?

1.You could lose all the money you invest

The performance of most cryptoassets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in crypto assets.

The crypto asset market is largely unregulated. There is a risk of losing money or any cryptoassets you purchase due to risks such as cyber-attacks, financial crime and firm failure.

2.You should not expect to be protected if something goes wrong

The Financial Services Compensation Scheme (FSCS) doesn’t protect this type of investment because it’s not a ‘specified investment’ under the UK regulatory regime – in other words, this type of investment isn’t recognised as the sort of investment that the FSCS can protect. Learn more by using the FSCS investment protection checker here.

The Financial Ombudsman Service (FOS) will not be able to consider complaints related to this firm. Learn more about FOS protection here.

3.You may not be able to sell your investment when you want to

There is no guarantee that investments in crypto assets can be easily sold at any given time. The ability to sell a crypto asset depends on various factors, including the supply and demand in the market at that time.

Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay and you may be unable to sell your crypto assets at the time you want.

4.Cryptoasset investments can be complex

Investments in crypto assets can be complex, making it difficult to understand the risks associated with the investment.

You should do your own research before investing. If something sounds too good to be true, itprobably is.

5.Don’t put all your eggs in one basket

Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well.

A good rule of thumb is not to invest more than 10% of your money in high-risk investments. Learn more here.

If you are interested in learning more about how to protect yourself, visit the FCA’s website here.

For further information about cryptoassets, visit the FCA’s website here.

Shiba Inu vs Dogecoin: a crypto dogfight in the spotlight

Shiba Inu vs Dogecoin: The ultimate crypto dogfight. Comparing the key features and potential benefits of two of the most popular meme-inspired cryptocurrencies.

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Shiba Inu (SHIB) and Dogecoin (DOGE) are both dog-themed meme tokens, and ironically both hold a place in the top 15 biggest cryptocurrencies by market cap. Typically meme tokens don't hold too much value when it comes to utility within the crypto space, however, financial experts have pointed out that as the investment thesis has changed surrounding meme tokens these two projects have experienced impressive growth and success. But who comes out on top in this crypto dogfight spurred by internet memes?

Exploring Dogecoin (DOGE)

Dogecoin calmly entered the crypto scene in 2013 as a joke, based on a Shiba Inu meme that was circulating at the time (a Japanese dog breed). Created by Billy Marcus and Jackson Palmer, the peer-to-peer cryptocurrency was allegedly created to poke fun at crypto investors who understood little about what they were investing in. The coin quickly grew a mass following but did little to prove its value in the space. 

However, in 2021 Dogecoin's popularity exploded thanks to social media and the support of Tesla CEO, Elon Musk. After claiming it to be his favourite coin on Twitter, even naming himself the Dogefather, Musk caused a wild increase in the DOGE price, hype, and far-spread interest (as well as speculation).

Dogecoin provides a fast medium of exchange and is used predominately as money for tipping content creators across various platforms and crowdfunding. Ultimately, Dogecoin has a reputation for being an accessible asset in the market.

Exploring Shiba Inu (SHIB)

Bursting on the scene in 2020, Shiba Inu positioned itself as an Ethereum-based rival to the original meme token. The project provides several use cases such as a decentralized exchange, an art incubator and hosts to other tokens (one of which was initially called Doge Killer). 

The platform was created by an anonymous entity, much like Bitcoin, that goes by the name of Ryoshi. After launching, Ryoshi donated 50% of the total SHIB supply to Vitalik Buterin, and whether this was meant to be a publicity stunt or not it certainly received a lot of attention. Buterin went on to donate 10% of his SHIB to a Covid relief fund in India and burned the remaining amount. 

In October 2021 following a possible Robinhood listing the SHIB price soared and for the first time overtook Dogecoin in value. Once the selling spree calmed down the price corrected.

How is Shiba Inu connected to Dogecoin?

While we outline the specifics of their similarities in the article below, the answer to this question is that there is no link between the two. Each network is built on its own platform (Shiba Inu using Ethereum as a base) and are not intertwined nor compatible. They are essentially competitors in the crypto space, each providing a platform and use cases separate from one another.

Dogecoin vs Shiba Inu Similarities

While the obvious similarity in this article is that these coins are both meme-based, there are two other core similarities that these coins share that is seen less frequently in the crypto space. 

Consensus Model

Both cryptocurrencies currently use a Proof-of-Work consensus algorithm, requiring miners to solve computational problems the fastest in order to validate transactions. Dogecoin is hard forked off the Litecoin network while Shiba Inu is built on top of Ethereum's blockchain. However, in the coming months, this will change as Ethereum moves toward a Proof-of-Stake consensus. 

Strong Social Media Presence And Followings

Both these coins have active and loyal followings and have done well to build such strong communities. Both provide easy entry points into the market, an excellent way of diversifying one's portfolio with their low costs. Both coins also played a role in bringing crypto to the mainstream in a "fun" light, with their active community members to thank. 

Elon Musk

As a bonus similarity, both these meme tokens have greatly benefited from the actions of Elon Musk. While he is a strong fan of Dogecoin, he recently sent the price of Shiba Inu soaring after posting a picture of his Shiba Inu puppy. In part, this contributed to the SHIB price reaching its all-time high.

Dogecoin vs Shiba Inu Differences

Of course, while they're both wildly popular and among the biggest cryptocurrencies based on market cap, they too have differences.

Token Type

While Dogecoin was built on its own blockchain, Shiba Inu was created on Ethereum as an ERC-20 token. This increases the tokens versability as it is compatible with all ERC-20 functions, such as wallets, smart contracts, decentralized exchanges, market places and more. 


An important aspect to look at, these two differ substantially. Dogecoin was created to have an infinite supply with a total of 5 billion new DOGE entering the market each year. Due to its fixed reward rate, the coin's inflation rates are expected to decrease over time making it deflationary in the long term. 

Shiba Inu, however, has a fixed supply of 1 quadrillion SHIB with around 549 trillion SHIB currently in circulation. The project has also implemented a burning mechanism into its operations, burning small portions of SHIB each time the cryptocurrency is purchased (via the transaction fee). As more coins are purchased the burning mechanism will decrease the supply, making the coin scarcer and increasing value. 


Dogecoin is a peer to peer payment system providing a medium of exchange. Shiba Inu on the other hand can be used in smart contracts and DeFi products. The project also provides a decentralized exchange called Shibaswap, as well as two other tokens, LEASH and BONE. On top of that, the platform also offers users access to liquidity pools and staking services. 

The Dog Fight Continues

As mentioned above both these coins have impressive communities behind them and have their own use cases. With many people asking where do experts predict Shiba Inu will go next and how high can Dogecoin go, the truth is that no one can say for certain. Each investor can decide for themselves which is better suited to their trading needs and enter the market accordingly. If you'd like to onboard Dogecoin or Shiba Inu you can do so securely and conveniently through the Tap app today. 


This article is for general information purposes only and is not intended to constitute legal or other professional advice or a recommendation of any kind whatsoever and should not be relied upon or treated as a substitute for specific advice relevant to particular circumstances. We make no warranties, representations or undertakings about any of the content of this article (including, without limitation, as to the quality, accuracy, completeness or fitness for any particular purpose of such content), or any content of any other material referred to or accessed by hyperlinks through this article. We make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up-to-date.


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