Frequently Asked Questions

Burns

Information on burns

You can burn SHIB by sending your tokens to one of the burn addresses.

Update: On April 23rd, 2022, Shiba Inu team released a burn portal where users can send tokens to the most popular burn address (used by Vitalik Buterin) and receive passive income. This method requires you to connect your wallet. Visit burn.shibaswap.com/details

 

Using Coinbase app to burn tokens.

1. Click on the Assets tab to find SHIBA INU (assuming you purchased some tokens already)

2. Click on your Shiba Inu wallet right above the Trade Button. (shows the amount of SHIB you own)

3. Click on the Send Button on the top right of your screen (Paper plane icon)

4. Enter the amount you would like to burn. You can also switch to the amount of SHIB you want to burn by clicking on the up and down icon next to the amount ⇅. 

5. Click continue, then skip the 'Send Crypto to a friend' window by clicking on Not Now.

6. For recipient, enter one of the burn addresses into the 'To' field, then click 'Preview Send.'

7. Click 'Send now'. That's all. You will see a notification once it's completed.

 

Using Crypto.com app to burn tokens.

1. Click on 'Accounts' tab and then to your 'Crypto Wallet' to find SHIB INU (assuming you purchased some tokens already)

2. Click on Transfer. A modal window will open, click on Withdraw.

3. Choose External Wallet.

4. On the new window, click on the Add button ( + ) on the top right of your screen to save a wallet.

5. A new modal window will open. Choose Wallet Address.

6. Keep selection for Network with ERC20 and paste one of the burn addresses into the SHIB Wallet Address input field. Give your wallet a name using the second field and click Continue.

7. You may need to verify using your 2FA app. Now you have the address saved in Withdrawal Whitelist you can easily access it in case doing another burn.

8. On the same window, click on Withdraw SHIB.

9. Enter the amount you would like to burn. You can also switch to the amount of SHIB you want to burn by clicking on the box with the amount in it.

10. Click Withdrawal. A new window will pop out to confirm. Click Confirm. That's all. You will see a notification once it's completed.

 

Using the MetaMask app and Trust Wallet to burn tokens.

1. Choose the SHIBA INU token and click Send

2. Paste one of the burn addresses into the 'To' or 'Recipient' field, then click Next.

3. Enter the amount you would like to burn.

4. Complete the transaction.

 

[Disclaimer: We are not suggesting in any way that you should burn your own tokens. These addresses are used to burn SHIB by many projects and by people who can afford to lose money. There are many other ways to contribute to burning that doesn't require you to spend any money]

When tokens are sent to an unusable address it is removed from circulation, it is similar to stock buybacks reducing the number of shares in the market. It became popular when Binance and Stellar burned coins to cut supply. For Shiba Inu, 3 null addresses have been used to burn tokens, they can't be accessed by anyone and have no obtainable keys. Burning reduces the supply, making the tokens scarcer. 

[Disclaimer: Shibburn is not suggesting that people should throw away their hard-earned money directly into burns expecting to see the price go up. DYOR]

There are 3 null addresses that are currently being used to burn $SHIB tokens:

  1. 0xdead000000000000000042069420694206942069
  2. 0x000000000000000000000000000000000000dead
  3. 0x0000000000000000000000000000000000000000

We have a page for these addresses here.