Answer:
I am an animal named after the animal that I eat.
What jumps when it walks & sits when it stand?
It has 8 arms and lots of ink but can't write a word.
Stealthy as a shadow in the dead of night, cunning but affectionate if given a bite. Never owned but often loved. At my sport considered cruel, but that's because you never know me at all.
Known as a great deceiver, It is evil's incarnation, Once used for veneration, The root of all procreation. All you can do is shiver, When it begins to slither.
Almost everyone needs it, asks for it, gives it. But almost nobody takes it.