Shiba Inu gained popularity in early 2021 after growing its price by more than 5 million percent. In the course of that year, Shiba Inu also made it to the list of top 10 most valuable cryptocurrencies, flipped Dogecoin (albeit momentarily), welcomed an unprecedented community of supporters, and expanded its ecosystem.
In this guide, we'll dive into the ins and outs of how and where to Buy Shiba Inu in 2023, we tell you of the best places to buy Shiba Inu today, give you a step-by-step guide on how to buy the Best meme coins in less than 5 minutes, and teach you everything else you need to know about investing in Shiba Inu.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
With these steps, you can purchase as many Shiba Inu tokens as you desire. However, if you’re a beginner, you might need a more explanatory guide on how to go about these steps. Therefore, we have provided a detailed walkthrough below.
Detailed Reviews Of The Best Place To Buy Shiba Today
Shiba Inu is one of the most popular meme coins. Throughout 2021 and for the better part of 2023 it has continued attracting massive investor interest and growing its community of followers. All these have helped draw recognition to the coin and ensured that it listed with all the most popular and best crypto exchanges.
To help you get started with where to buy Shiba Inu or buy cryptos, we will be introducing you to the best places to buy Shiba Inu today:
1. eToro - Overall Best Place to buy Shiba Inu
eToro ranks highly on our list of the best crypto exchanges to buy Shiba Inu because of its innovative and resource-rich trading platform. It also makes it here because of its affordable deposit and trading minimums as well as low and transparent trading fees.
We also feature it among the best crypto place to buy Shiba Inu because of its appeal to both beginner and expert investors.
It all starts with a straightforward client onboarding process and a relatively fast account approval process. It then extends to affordable deposit and trade minimums of $10, which can be deposited via such popular payment methods as PayPal, credit cards, debit cards, bank wire transfers, and eWallets.
eToro’s trading platform is also highly intuitive and beginner-friendly. But it also integrates a host of trading, research, and risk management tools that appeal to expert investors. Further, eToro is a relatively liquid exchange and maintains some of the fastest order execution speeds.
You even have the option of trading Shiba Inu CFDs or buying actual Shiba Inu tokens (depending on your country of residence) and all these make eToro appealing to Shiba Inu day traders.
Deposits into eToro are free. Plus, when buying Shiba Inu on the platform, you will only have to part with the fixed 1% transaction fee.
Other factors that convince us why eToro is one of the best platform to buy Shiba Inu are its added perks. The crypto exchange, for instance, lets you interact with its social and copy trading platforms that let both expert and novice Shiba Inu investors earn passively.
Further, eToro provides crypto investors with a free custodial vault that stores 90% of its holdings offline as well as a non-custodial mobile wallet app.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
2. Crypto.com - Best Place to buy Shiba Inu For High Instant Deposit Limits
Another place to buy Shiba Inu today isCrypto.com. The platform is a relatively new but massively popular crypto exchange. It is also deeply liquid as it often processes crypto trades worth more than $2 Billion daily. But this isn’t the primary reason why we featured it on our list of top place to buy Shiba Inu.
We include it here because of its support for instantaneous and relatively higher deposit minimums. For instance, while you can deposit a maximum of $40,000 daily on eToro via cards, Carypto.com lets you deposit up to $50,000 daily, instantly.
Crypto.com also another best exchange to buy Shiba Inu because of its beginner friendliness. This is evidenced by its easily navigable user interface, a straightforward client onboarding process, and the fact that the site maintains affordable deposit and trade minimums - of $20.
The supported payment methods on the fast-growing crypto platform and exchange are credit card, debit card, bank transfer, SEPA, Transfer Wise, and even PayPal. Most of these deposit methods are instantaneous and crypto.com doesn’t charge deposit processing fees. You only have to pay the transaction fee charged by your payment service provider.
The only other fees you get to interact with when buying Shiba Inu on Crypto.com are the competitive and heavily discounted trading fees. Here, you pay a fixed maker/taker fee of between 0.4% and 0.10%. And if you stake 5000 CRO (Cronos) tokens on the platform, you get to enjoy a 10% discount on the transaction fees, bringing this cost of trading down to between 0.36% and 0.09%.
In addition to being beginner-friendly, the Crypto.com trading platform also appeals to expert crypto investors. It achieves this by maintaining some of the fastest order execution speeds. It also integrates a diverse range of premium trading, analysis, and risk management tools. And they all, plus its deep liquidity, make Crypto.com one of the best trading platforms for active traders.
Other reasons why we feature Crypto.com among the top exchanges to buy Shiba Inu include its innovativeness. It, for instance, recently launched the crypto staking and lending programs that let Shiba Inu investors earn passive incomes on staked SHIB tokens. They also get to borrow funds against up to 50% of their staked/saved tokens at highly competitive interest rates and flexible repayment periods - up to 12 months.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
3. Binance - Best Place to Invest Shiba Inu For Low Trading Fees
Next to the list of the best place to buy Shiba Inu is Binance. The platform is one of the most liquid crypto platforms in the world - processing crypto trades worth more than $40 Billion daily. It also maintains some of the lowest crypto trading fees.
For instance, when buying Shiba Inu on the Binance exchange, you will only pay a maker/taker fee of between 0.1% and 0.04% - based on your 30-day trading volume.
Moreover, if you pay the transaction fee with BNB coins, you get to enjoy a 25% discount on the fees, bringing them further down to between 0.075% and 0.03%.
These explain why Binance features prominently on our list of the best places to buy Shiba Inu in 2023.
But low fees and deep liquidity aren’t the only reason why Binance ranks this high on the list of top exchanges to buy Shiba Inu. Others include the fact that it supports a wide range of crypto assets, which increases the number of Shiba Inu crypto pairs available for trading on the platform.
Additionally, Binance maintains an easily navigable user interface. This platform then integrates the widest range of premium trading, analysis, and risk management tools. It also maintains some of the fastest crypto order execution speeds. Not forgetting that you can start trading Shiba Inu with as little as $1 on Binance.
The low trading minimums, intuitive interface, and low trading fees make it one of the most beginner-friendly crypto exchanges. The fast order execution speeds, a wide range of Shiba Inu trading pairs, low fees, and advanced trading tools make it appealing to active traders, especially scalpers.
Like all other best places to buy Shiba Inu, Binance maintains a smooth and straightforward client onboarding process. It also provides its platform users with free crypto custody services by promising to hold their Shiba Inu tokens in offline vaults on their behalf. And if you are looking for non-custodial crypto wallet services, Binance provides you with a free mobile wallet app - the Trust Wallet.
Binance also stands out with its outsized crypto-insurance scheme. It has established a $1 Billion private insurance fund, referred to as SAFU (Secure Asset Fund for Users), to compensate crypto investors on its platform in case of breaches that lead to loss of investment.
What Is Shiba Inu (SHIB)?
The dog-themed joke currency was created by an anonymous entity referred to pseudonymously as “Ryoshi.” It was inspired by the success of the dog-themed meme coin - Dogecoin.
Shiba Inu is even referred to as the “Dogecoin killer” because when it started, its website indicated that the meme coin's primary goal was dethroning DOGE as the lead meme coin. It achieved this - momentarily - at the height of the early 2021 crypto market rally.
After the mid-2021 crypto market crash, its goals changed. It shifted its focus from dethroning Dogecoin to enriching the Shiba Inu ecosystem. To this end, its development team launched a clear roadmap that indicates the different fundamental adjustments they intend to add to the Shiba network.
Key among them is the launch of the ShibaSwap decentralized exchange. They also intend to launch a launchpad for tokens, which will accelerate the burn rate for Shiba Inu tokens. They have also hinted at creating Shibarium - a layer-2 scaling solution for Ethereum that Ryoshi argues will be more decentralized than Polygon or Binance Smart Chain.
All these factors have helped convince most crypto investors of Shiba Inu’s sustainability. They have also played a crucial role in fueling investor interest in the joke currency.
Is Shiba Inu A Good Investment?
Shiba Inu is a massively popular cryptocurrency that has posted incredible value gain in the past, enough to convince any crypto trader of its viability as an investment. But the fact that it is the best shitcoin casts a wide shadow of doubt over its sustainability.
To better understand whether it is worth buying Shiba Inu today, we need to look at both the reasons for buying the joke coin today and the risks associated with SHIB investing at the moment.
Reasons To Buying Shiba Inu Today
- Potential for massive value gain: Increased burn rate for Shiba Inu tokens as well as an expanded ecosystem that increases the token’s use cases are expected to fuel value gain for the meme coin. These plus a recovering crypto market will undoubtedly catapult a SHIB investor’s portfolio to new heights.
- The hype around the coin is growing: The hype around Shiba Inu has been on the rise, fueled by endorsements from celebrities, association with the likes of Vitalik Buterin, and a massively vibrant online community of followers.
- Accessible and highly liquid: Shiba Inu is listed with virtually all the most popular exchanges and its daily trade volumes have been on a perpetual rise. This makes the liquidation of even the largest SHIB portfolio relatively easy and fast.
- Incredible past price action: You may also consider buying Shiba Inu today because it posted massive value gain in the past. Experts do not expect this wave of unprecedented value gains to die any time soon because all the factors that helped catapult SHIB to an all-time high in 2021 are still actively fueling its current recovery.
- It is resilient: You may also want to buy SHIB tokens because they have proven their resilience. Despite the backlash meme coins have been subjected to by the mainstream media and the volatile market crashes in mid-2021, SHIB has sustained its uptrend and its position among the 20 most valuable crypto projects that can explode in the future.
Risks Of Buying Shiba Inu (SHIB):
- Shiba Inu is massively volatile: Shiba Inu is a massively volatile crypto asset and its price crashes often. The dog-themed coin is, for instance, currently selling close to 90% below its all-time high, and there is no telling if it will ever recover.
- High risk of collapse: Meme coins have the highest risk of collapse. They form the greatest pile in the pit of dead coins and Shiba Inu is not immune to the factors that caused the stall and eventual death of its peers.
- Large circulating supply: Shiba Inu’s expansive supply of 500+ trillion tokens places a subtle limit on how high the token prices and the ecosystem’s market cap can reach in the foreseeable future. This then places a cap on just how high your crypto portfolio grows.
Shiba Inu (SHIB) Price
When Shiba Inu launched in August 2020, it was selling for $0.00000000051. This debut coincided with the base of what would turn out to be the early 2021 crypto market rally. But this didn’t help its uptake as it received a rather cold welcome to the industry which saw it cross into 2021 selling for $0.000000000168 - below its introductory price. Its daily trading volumes also remained below $10 throughout the last quarter of 2020.
But several happenings that took place in and around January, helped popularize Shiba Inu and pushed its token prices to previously unimagined heights. Perhaps more significantly, the Shiba Inu development team burned more than half of the meme coin’s 1 Quadrillion supply to a wallet addressed to Vitalik Buterin’s wallet. The Ethereum co-founder, on the other hand, promised to donate 10% of this gift and burn the rest.
Given Vitalik’s influence in the crypto world, his association with the meme coin saw investors flock to the meme coin. By the first week of February, SHIB was recording a few million dollars worth of trades daily. This growing investor interest, rising community support, and hype on Reddit and Twitter helped Shiba Inu break into a full-blown price run.
The joke currency first peaked on 10th May, selling for $0.000035 - more than 7 million percent above its introductory price. By this time, its daily trade volumes reached the highs of $20 Billion and its market cap peaked at $14 Billion. Further uptrend by the meme coin was, however, limited by the ban on crypto by the Chinese government, which effectively tanked the market.
In a show of resilience, the meme coin resumed its recovery in August 2021. And in October, it embarked on its most spirited rally yet. Shiba Inu grew its price by more than 1200%, jumping from $0.000007 at the beginning of the month to its current all-time high of $0.000088 28 days later.
The shaky price action that came about in the last quarter of 2021 through to 2023 has, however, seen the second most valuable crypto asset shed close to 90% of this all-time high.
Shiba Inu Price Prediction
Despite the value loss, the majority of analysts are confident that Siba Inu will recover and reach new heights over the next few years. Some of the factors that they believe will help revive Shiba Inu include a recovering crypto market and support from SHIB's growing community.
They also expect growing investor interest in the meme coin and a revived meme coin craze to play a crucial role in getting Shiba Inu back to its all-time high prices.
Overall, the majority of crypto analysts and investors are convinced that Shiba Inu is one of the best crypto to trade now and has everything it needs to force a rebound and a price run towards, and possibly above, the current all-time high.
The most optimistic, like technical analysts at Gov Capital, are convinced that Shiba Inu can recover and grow its worth by more than 31000% to reach $0.00093 by the end of 2023.
The crypto industry players are also massively bullish about Shiba Inu's medium-to-long-term price direction. They are confident that an expanding ecosystem, the increased burn rate for Shin Tokens, and sustained investor confidence in the meme coin will help sustain its uptrend.
Over the next 5 years, for instance, technical analysts at the reputed Wallet Investor expect Shiba Inu to have reached $0.00013. By the turn of the decade, analysts at Telegoan expect Shiba Inu token prices to rise by close to 9000% and reach $0.00112.
Don't Miss: Shiba Inu Price Predictions
How To Choose An Online Exchange To Buy Shiba Inu
For you to properly understand how to buy Shiba Inu, you need to choose a credible broker for that purpose. There are numerous brokers where you can buy this coin. However, to get the right broker, you must consider certain metrics.
We have discussed these metrics extensively to help your decision-making process.
The very first thing to consider is regulation. This is a factor that indicates the credibility of a Shiba Inu broker. As is with any business that offers financial services, it’s important to ascertain the efficiency of such a platform. Therefore, when a broker is regulated, the platform must comply with a certain set of rules.
So, when looking for the right broker to choose for buying Shiba Inu, you should consider those that are regulated by leading financial bodies such as CySEC, ASIC, and the FCA. eToro falls in this category, as the broker is regulated by the aforementioned bodies.
Consider the following advantages of regulated brokers when learning how to buy Shiba Inu.
- Regulated brokers operate segregated accounts to keep your funds safe. This means that if anything compromises the platform’s funds, your money won’t be affected.
- Regulated brokers are mandated to act within their established scope of operations. Since they cannot go beyond the established scope, there are reduced chances of the Shiba Inu broker engaging in nefarious activities.
- Leading regulators such as the FCA regularly audit the brokers under their jurisdiction. Additionally, regulated brokers are expected to operate a fair trading system, meaning there are no hidden fees and there’s complete transparency.
From the above, it’s clear that when you choose a regulated broker like eToro to buy Shiba Inu, you’re putting your investments in safe hands. In that case, you can have peace of mind while engaging in other services on the broker or even when you’re away from the platform.
To further put this in perspective, it’s only right to discuss unregulated Shiba Inu exchanges, especially because there are many of such in the market at this time. Doing this will allow you to further understand why regulated brokers are a better option.
- Although unregulated exchanges will also allow you to buy Shiba Inu in both crypto-pairs and fiat-pairs, there’s nothing guiding the scope of operations of these platforms. This means that an unregulated exchange might open itself up to nefarious activities that could compromise the interests of the users.
- Furthermore, while with regulated brokers, you stand a better chance of having your money kept safe - the same cannot be said for unlicensed exchanges. This is because most regulated brokers provide you with highly secure in-built wallets that make it seamless and convenient to store your Shiba Inu tokens.
- On the flip side, with unregulated exchanges, you’ll likely need to transfer your Shiba Inu tokens to an external wallet after buying them. This transfer process is one that can compromise the safety of your tokens.
- Finally, unregulated exchanges do not have a Know Your Customer (KYC) process. This means that anyone can set up an account without validating their identity. The implication of this is that an unregulated platform is more susceptible to being used for improper purposes.
With the discussion and comparison in this section, we hope that you’ll understand the importance of credibility when choosing a broker or exchange. As such, always know that the safety of your Shiba Inu tokens is a priority at all times. Crucially, eToro is the safest broker to buy Shiba Inu - as the platform is heavily regulated.
You might wonder why it’s important to consider supported payment methods when reading on how to buy Shiba Inu. The reason is quite straightforward, as you don’t want to go through the process of signing up on a broker only to realize you cannot fund your account.
This is often the case with cryptocurrency exchanges, as they mostly accept payments in the form of cryptocurrencies. This is because they are unregulated and as such cannot support payment methods like debit/credit cards, since you’d need to complete a KYC process.
Interestingly, you can always choose a regulated broker to bypass this hindrance. There are many different payment methods you can use, as you’d find on leading regulated brokers like eToro. This includes debit/credit cards, e-wallet options such as Paypal and Apple Pay, and even wire transfers.
However, you should note that when you use a wire transfer, you have to wait a bit longer for your funds to be deposited. But more importantly, irrespective of the payment method you decide to go with, eToro stands out. This is because you can use all of the above-listed payment options when buying Shiba Inu tokens.
Fees and Commissions
Fees and commissions are some of the ways Shiba Inu brokers make a profit. Many brokers have different fee structures, which is what determines how they charge their users.
For instance, a broker may charge a certain fee when you use a specific payment method. For some other brokers, you’ll be charged a commission when you buy and sell Shiba Inu.
Let’s put this in context to understand how these fees can affect your Shiba Inu profits.
- Suppose you place a Shiba Inu order of $600.
- If the broker charges a fixed commission of 1.5% - that means you’d pay $9 on that buy order.
- Let’s assume your Shiba Inu investment is now worth $1,000 and you intend to sell. In doing so, you’d pay $15 ($1,000 x 1.5%).
- Overall, you’d have paid $24 in fees.
You might think that this fee is minimal. After all, a 1.5% commission on $1,000 will only amount to $15. However, you should remember that you won’t always make a profit and when these fees accumulate, they might significantly affect your Shiba Inu investment.
Therefore, it’s always crucial to research and know the fee policy of the broker you’re choosing. Some of the ones to note include the spread, conversion, and withdrawal fees.
However, some brokers charge no fees when you make deposits and withdrawals. All in all, we found that eToro is the best-priced broker to buy Shiba Inu. This is because you can invest on a 0% commission basis. Plus, US clients pay nothing to deposit funds while all other users are charged just 0.5%.
Other Important Factors to Note
So far, we’ve discussed some of the most important things to know when learning how to buy Shiba Inu. However, to be properly prepared, there are some other factors you need to know.
Here are some of the things we think you should consider by choosing a broker to buy Shiba Inu tokens.
- Simple User Interface: A broker that has a friendly design will make it convenient to navigate your way around. It can be frustrating when you’re using a provider and you’re confused about how to move across different steps. The best brokers will offer you clear and precise prompts that make buying Shiba Inu seamless for both beginners and experienced users. Therefore, you might want to consider a broker with an interface that’s carefully thought out.
- Customer Support: The best brokers respond to the needs of users in time. This means that such platforms will offer you 24/7 or 24/5 customer support. That way, suppose your account suddenly develops an issue when you’re looking to buy Shiba Inu at a particular price. In this case, a fast response from customer support is only right. Additionally, consider whether the broker supports different communication channels like live chat, email, and telephone.
- Storage: When you’re choosing a broker to buy Shiba Inu, you have to consider how you’ll store your tokens. It’s crucial to store your Shiba Inu tokens in a secure wallet to ensure you don’t lose them to hacking or any form of compromise. Therefore, it’s preferable that you choose a broker that comes with an in-built wallet such as eToro, as that will make it possible to store your tokens without having totransfer them from one platform to another.
Come Up With Shiba Inu Investment Plan
In this How to Buy Shiba Inu Guide, it’s crucial that we emphasize the importance of having an investment plan. With an investment plan, many cryptocurrency investors are able to stay on top of their game and grow their portfolios.
Additionally, you can ensure you make decisions based on facts and not emotions or instincts. Consequently, you won’t have to make decisions under pressure.
This is quite important when you consider the volatile nature of cryptocurrencies - since Shiba Inu can move positively or negatively in a matter of seconds. When any of such happens, you must know what to do to maximize the movement.
However, creating a Shiba Inu investment plan requires some care. You must understand the necessary factors to consider. Therefore, we have put together some of the key things you should know when learning how to buy Shiba Inu.
Long or Short-Term
You can buy Shiba Inu to hold for the short or long term. Concerning buying Shiba Inu for the long-term, this would mean you intend to hold the coin for a lengthy period. This strategy is straightforward - since all you need to do is buy the token and hold it until you are ready to sell for a profit.
This is what some people do with their portfolios. As such, there are investors that have been holding on to certain digital tokens for several years.
On the other hand, if you’re working with a short-term plan, that means you’re looking to profit from Shiba Inu’s price movements over the course of hours, days, or weeks.
This is how experienced investors make money, because generating profits in the short-term means you have plenty of trading opportunities on the table.
Therefore, you must consider the trajectory of the token to determine its potential price movements. This will inform how you speculate on the price of Shiba Inu and place your orders.
Notably, however, while you can make profits from predicting the markets correctly, unsuccessful speculation will cause losses.
Target Shiba Inu Price
In learning how to buy Shiba Inu, you must know the meaning of a target price. This is a common strategy in the cryptocurrency market, as it’s a feature that indicates a clear thought process in terms of how much profit you want to make.
When you have a target price, this means you intend to enter or exit the Shiba Inu market at a particular point. That is, once the token attains a particular price, that’s when you place your buy or sell order based on your plan.
Let’s further explain this with an example:
- Suppose you place a Shiba Inu order at a stake of $200.
- If the token’s price was $0.0000074 when you entered the market, you can choose to exit at $0.0000082.
- This means you’re targeting a 10% profit on the position.
- To attain your target price, your $200 must be worth $220.
- Then, you can exit the market.
Clearly, what matters when determining a target price is your goal for buying Shiba Inu and your financial objective.
Therefore, always ensure to do adequate research before speculating on Shiba Inu. For instance, it’s worthy of note that while Shiba Inu is priced at about $0.0000326 at the time of writing, the token sold for about $0.000088 in October 2021.
This means that you can make profits from both long and short-term plans. What’s most important is the quality of your research.
Don't Miss: Shiba Inu Price Predictions
Buy Shiba Inu at Regular Intervals
A common mistake many people make when they enter the cryptocurrency scene is to assume that the industry is a get-rich-quick scheme. This is, in fact, not the case. Making a profit when buying Shiba Inu requires knowing the best strategies to follow.
One such strategy is to invest at regular intervals. Therefore, you might want to incorporate weekly or monthly purchases into your overall Shiba Inu investment plan.
With such a strategy, you can gradually build your portfolio at minimal risk. However, in that case, since you’d be buying Shiba Inu numerous times, it’s best to use a cost-effective broker like eToro to avoid incurring substantial fees.
Ways To Buy Shiba Inu
As you can imagine, a huge financial market like that of cryptocurrency will have different ways for you to buy and sell digital tokens. Therefore, we have discussed some other ways for you to buy Shiba Inu.
While discussing the top exchanges to buy Shiba Inu, we pointed out the diverse payment methods.
In this section, we will be expounding on the three most popular ways of buying Shiba Inu today.
Buy Shiba Inu With Credit Card and Debit Card
Using a debit card is perhaps the quickest method to buy Shiba Inu. All you have to do is to determine the number of Shiba Inu tokens you’re buying and enter the details of your debit card to complete the purchase.
Credit cards and debit cards are arguably one of the most accessible payment methods. A large number of crypto exchanges, including the three we have discussed hereinabove all let you buy Shiba Inu with credit and debit cards.
The upside to buying Shiba Inu with credit cards can be attributed to the fact that card payment processing is almost instantaneous. Additionally, most of the exchanges that we have listed above do not maintain deposit processing fees for card payments.
How to Buy Shiba Inu With PayPal
Paypal is one of the most popular e-wallets through which you can buy Shiba Inu. This option is used by many people looking to buy cryptocurrency tokens.
All you need to do here is to choose Paypal as your payment method and input the amount of Shiba Inu you’re looking to buy. Paypal is supported by top-rated broker eToro.
A growing number of crypto traders prefer buying Shiba Inu with PayPal because of its efficiency. The payment method is easy to use and transaction processing instantaneous. Additionally, most crypto exchanges that support PayPal do not maintain a deposit-processing fee.
The only downside to buying Shiba Inu with PayPal is that only a handful of crypto exchanges - like eToro support PayPal deposits.
How to Buy Shiba Inu Bank Account
This is still one of the best payment methods. Depositing fees for bank transfers are normally low and can take at least a day for a transaction to be completed. This is one of the safest ways to deposit funds into your account which can set you on the path to investing in Shiba Inu
Banks are the most accessible payment methods. This explains the reason virtually all the crypto exchanges, including the top trading platforms we have featured in this Shiba Inu investing guide welcome bank deposits.
The upside to buying Shiba Inu with bank deposits is that most exchanges do not have a maximum deposit limit for bank transfers. The downside, on the other hand, is that bank transfers take relatively long before they can be processed. At eToro, for instance, it takes between 3 and 8 days for a bank deposit to reflect in your trader account.
Best Shiba Inu Wallet
Once you have learned how to buy SHIB tokens and where to complete your order – the final thing to consider is storage. After all, Shiba tokens are stored in crypto wallets.
There is plenty of choice in this regard, as Shiba wallets can come via a mobile app, desktop software, or a hardware device. Each SHIB wallet will offer a certain blend of security and convenience.
There are two primary types of wallets that you can use to hold your Shiba Inu investment. The first and most accessible option is the free online wallets provided by crypto exchanges or such third-party crypto custody service providers as MetaMask and Exodus.
The only downside to holding your SHIB tokens in an online wallet is that it exposes you to hacking threats.
For this reason, we advise our readers to get their private keys off exchanges and online wallets and move them to reliable hardware wallets. These store your keys offline - away from the many threats facing hot wallets.
How To Buy Shiba Inu - Tutorial
Throughout this post, we have told you everything you need to know about buying Shiba Inu. From what it is to its past price action, the top exchanges to buy Shiba Inu, and even the different ways to buy the meme coin.
Next, we provide you with a step-by-step guide on how to buy Shiba Inu on the all-popular eToro trading platform.
Step 1: Create a crypto account
his How to Buy Shiba Inu Guide has explained what to look out for when choosing the right broker. However, that’s not complete until you know how to open an account after choosing a suitable provider.
The registration process is similar across many providers, so here you go:
- Visit the broker’s website to kickstart your registration.
- For a regulated broker like eToro, you have to complete a KYC process - which will require some personal details. These include basic details like your name, phone number, and home address.
- Additionally, you’ll have to provide a government-issued ID and a bank statement/utility bill. This is how the broker will validate your residency status.
With every broker, you’ll get the list of documents you need to provide. Once you complete the process, you’ll be able to buy Shiba Inu.
Step 2: Verify your identity
To complete the registration process, the multi-regulated crypto exchange will require you to verify your identity. You achieve this by emailing a copy of a government-issued document to the eToro support team.
Step 3: Deposit funds into the account
Adding funds to your account is a straightforward step, especially since there are numerous ways to go about that. You simply need to choose the option that works for you and decide how much to deposit.
Debit/credit cards and e-wallets are the fastest options. However, if you want to deposit using a wire transfer, there are brokers that support this option too. The only downside is that you have to wait a bit longer when using this method.
Once you’ve decided on a payment type, you have to consider the minimum required amount you need to deposit on the broker. Each broker has its own requirement concerning this feature.
For instance, with eToro, you need to deposit a minimum of $10 for US clients before you can place a Shiba Inu buy order.
Step 4: Search for Shiba Inu
On the user dashboard, click on the “Discover” tab, and from the list of available asset classes, choose “Crypto.” Use the search option to find Shiba Inu or simply locate it from the list of crypto assets supported on the platform.
Step 5: Buy Shiba Inu
After funding your account, your next task is to buy Shiba Inu. Here, you’ll need to place an order to instruct your broker on what to do. As an experienced person in the cryptocurrency space, you might understand how these orders work.
Click on the “Buy” option. A trading window will pop up and you can customize the investment here by indicating the amount of cash you wish to spend on buying SHIB tokens or the number of Shiba Inu tokens you wish to purchase. Complete the trade by hitting the “Open Trade” button.
Step 6: Storing Your Shiba Inu
Storing Shiba Inu is just as important as buying the token. Therefore, this How to buy Shiba Inu Guide would not be complete if we don’t adequately discuss the storage of your digital assets.
When you buy Shiba Inu, you’ll be faced with the need to get the right cryptocurrency wallet. There are numerous wallets in the cryptocurrency market from which you can choose.
But you won’t have to worry about this if you use a regulated broker like eToro - which allows you to store your Shiba Inu tokens within the platform itself.
This is a better option because even if you get a reliable external storage option, the process of moving your tokens from an exchange to a wallet can lead to different complications. A common issue with this process is that your Shiba Inu tokens might get compromised.
How Much Should I Invest In Shiba Inu?
There currently is no standard on how much you can or should invest in Shiba Inu or any other cryptocurrency. How much you commit to buying SHIB tokens should be informed by such factors as your investment goals, amount of disposable cash at hand, risk tolerance level, and understanding of the crypto market dynamics.
Keep in mind that cryptocurrencies - including Shiba Inu - are some of the most volatile investment products around today. If you are a beginner to crypto trading or only have moderate trading experience, you are advised to engage the guidance of a professional trader.
As always, and as with any other investment, we encourage you to only invest in Shiba Inu what you can afford to lose.
Should You Invest In Shiba Inu?
You should only consider investing in Shiba Inu if you are totally convinced that Shiba Inu prices will continue rising in the foreseeable future.
But if you are looking for different expert opinions to help shape your decision. Any crypto analyst will tell you that they are currently laying back in a wait and see pose, watching as the Shiba Inu price action unfolds.
They are fifty-fifty on whether to invest in the coin or wait for it to break out in any direction. CoinFlip CEX, Ben Weiss, recently brought forward what is in every investor’s mind when he said that “(Shiba Inu’s) price could certainly g up, but it could just as easily come down.”
It is a catch 22, if you wait and the SHIB token prices break put upwards, you miss out on what could potentially be one of the most profitable crypto rallies in days. And if you go in hard now, and it dips further, you get burned.
How To Sell Shiba Inu (SHIB)
When you’re buying Shiba Inu, your eventual goal is to make profits from an increased token value. As such, you’ll want to understand how you can sell Shiba Inu. You can take advantage of the sharp market movements to do this.
Alternatively, you can choose to hold the tokens for a long period. With a regulated broker like eToro, you can conveniently sell your Shiba Inu tokens in return for fiat money. You can then withdraw the funds to the payment method by which you bought the tokens.
Open a sell order. If you wish to sell the coins immediately and at the prevailing market rate, open a market order. If you wish to set the selling price for your coins, open a limit order and set your selling price.
How To Buy Shiba Inu (SHIB) - The Verdict
Buying Shiba Inu doesn’t have to be complicated. There now are a growing number of tier-one crypto exchanges that list the meme coin and they all have oversimplified the process of buying SHIB on their platforms.
Essentially, in this Where to Buy Shiba Inu Guide, you have all you need to get started with making profits from this exciting crypto asset. To complete the purchase right now - choose a broker like eToro for a cost-effective and secure way to buy Shiba Inu in under 10 minutes!
To help you start investing in the meme coin, we have discussed the best exchanges to buy Shiba Inu. We have also provided you with a step-by-step guide on how to buy Shiba Inu at eToro.
We have even described the different ways through which you can buy Shiba Inu. We have taught you how to buy SHIB with PayPal, credit cards and debit cards, and even banks. And you only need $10 to start buying Shiba Inu on eToro.
eToro – Best Place To Buy Shiba Inu
Open an account with eToro, deposit some funds with USD, and finally – buy SHIB from just $10.
FAQs Buying Shiba Inu
How to buy Shiba Inu today?
Find a reputable Shiba Inu crypto trading platform - we recommend eToro - and create a trader account here. Verify your identity and proceed to deposit funds into this account then buy Shiba Inu.
Which is the best place to buy Shiba Inu?
Through our detailed research and experience, we’ve found the best place to buy Shiba Inu is eToro or Coinbase. They both are regulated and don't charge high trading fees, making them the ideal platforms for investing in SHIB cryptocurrency.
What Are The Safest Sites To Buy Shiba Inu?
The safest sites to buy Shiba Inu adhere to compliance practices such as Knowing Your Customer and Anti-Money Laundering. Once an exchange requests you to go through extensive identity verification, you are on the right platform. eToro, Binance, and Coinbase are safe sites to buy Shiba Inu today..
What is the best way to buy Shiba Inu?
There are many cheap ways to buy Shiba Inu but we would recommend buying your SHIB tokens from eToro. You will get free deposits as well as a 0% commission on most of your trades.
Is Shiba Inu worth buying today?
Yes, Shiba Inu is worth buying today because it has proved its resilience. There also is a lot of developer activity on the Shiba Inu network, the meme coin is growing its community of followers and there is increased investor interest in Shiba Inu - all of which are expected to continue fueling SHIB’s value gain.
Can I buy Shiba Inu with PayPal?
Yes, you can buy Shiba Inu with PayPal. This, however, can only be done through a crypto exchange that supports PayPal deposits, such as eToro.
What is the highest value that Shiba Inu has ever reached?
Shiba Inu’s price in the market fluctuates across the day. However, the token reached an all-time high of $0.00008845 on 28 October 2021.