How To Buy Shiba Inu (SHIB) Coin In The USA

Last Updated April 21st 2022
14 Min Read

A Beginner’s Guide To Buying And Trading Shiba Inu Coin In The USA

Shiba investing is a dynamic and potentially profitable venture. Here is all you need to know about how to buy Shiba in the USA, investing strategies and tips, and how to start trading this meme cryptocurrency.

In recent years, meme coins are becoming more and more popular in the cryptocurrency market. One of such coins is Shiba Inu, a relatively new cryptocurrency project that has already won lots of interest in a short time.

This resulted in the rapid growth of the Shiba Inu price since early May 2021, however, its value was negatively affected during the last crypto market drop - The falling prices of Bitcoin, Ehtereum, and other famous crypto affected the whole crypto market, including Shiba Inu prices. 

So, what is the Shiba Inu coin, and why was it created? This guide will introduce you to this cryptocurrency project, discuss its goals and objectives, its price history, future price predictions, and show you how to buy Shiba Inu coin in the USA. 

Where To Buy Shiba Inu (SHIB) Coin In The USA

Are you searching for how to buy Shiba in the USA? Well, there are hundreds of crypto exchanges and brokers in the USA. This can make it hard to know which platform is right for you. 

List of the best Exchanges to buy Shiba in the USA:

Below you will find 4 of the best brokers that allow you to buy SHIB in the USA. 

  • eToro - Best broker to buy Shiba Inu (SHIB) in The USA
  • Binance - Best exchange to buy Shiba USA for asset diversity
  • Coinbase - Best exchange to buy Shiba (SHIB) for beginners
  • OKEx - Best broker to buy SHIB USA for low-cost

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eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. This is not meant to be tax advice or financial advice of any kind. The above information we compiled from online tax forums. Please, consult a CPA or lawyer if you have questions about filing your tax return, forms to use, or what is/is not taxable. eToro is not a tax advisor.

What Is Shiba Inu (SHIB) Coin?

what is Shiba inu coin

Shiba Inu is a cryptocurrency project launched in April 2020. It's still unknown who Shiba Inu founders are and what's the background of the founders, as they hide their names. Still, one of them is known on Twitter under the pseudonym "Ryoshi".

Shiba Inu has some similarities with another famous meme coin known as "Dogecoin". Both projects use this Japanese breed of dog, Shiba Inu, to represent their projects and depict this dog on their logos. They are both created as meme coins and basically do the same function in the crypto market. However, Shiba Inu crypto founders describe their project as "an experiment in decentralized spontaneous community building." 

Dogecoin and Shiba Inu are actually rivals in the market. According to the Shiba founders, their crypto is the improved version of Dogecoin and has many advantages over it. They also have a token, SHIB token which is also dubbed as "Dogecoin Killer," and they believe that soon it will outperform Dogecoin. 

How Shiba Inu (SHIB) Works And What Affects Its Price?

While Dogecoin uses the same blockchain technology as Bitcoin, Shiba Inu relies on Ethereum Network. On their Woof Paper (Whitepaper with dog theme), Shiba founders describe why they chose ETH, which according to them "is already secure and well-established and truly allows us to stay decentralized." 

It's even mentioned on their Woof Paper that they gifted 50% of the Shiba Inu tokens to the ETH founder Vitalik Buterin. However, Vitalik recently announced that he had burnt 90% of his tokens, sending them to the dead blockchain. In this way, the tokens got out of circulation, and the remaining 10%, as Vitalik mentioned, would be given to charity organizations. As an explanation, Vitalik reasoned that he did not want to hold the power of controlling the market.

Shiba founders are also launching another project - ShibaSwap, a crypto trading decentralized ecosystem. This DECO will be based on the three tokens developed by Shiba founders - Shiba Inu or $SHIB, Leash Dogecoin Killer, or $LEASH and Bone or $BONE. Using these three tokens, users can generate “Returns” on ShibaSwap. These are the primary goals that the project's founders challenged themselves.

Shiba Coin Price Performance

In terms of Shiba's price performance, let's take a closer look at its price history to better understand how Shiba grew from the project launch and discuss the factors affecting its prices. 

So, the Shiba Inu coin stepped into the cryptocurrency market with relatively low prices. It was for a particular reason, though - to allow its users to have millions and trillions of these coins. At this time, there are over 394 trillion Shiba Inu coins in circulation, according to Coin Market Cap.

Shiba Inu coin price history, source: coinmarketcap.com

If we take a closer look at Shiba Inu's price history charts, we see that there was no significant growth in 2020 for this crypto. But since the beginning of the year, this crypto has become very popular mainly due to its citation on Twitter. This and the fact that such large exchange platforms as Binance and FTX listed Shiba Inu on their exchange have been major contributions for the 6-digit YTD return from the start of the year. 

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eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. This is not meant to be tax advice or financial advice of any kind. The above information we compiled from online tax forums. Please, consult a CPA or lawyer if you have questions about filing your tax return, forms to use, or what is/is not taxable. eToro is not a tax advisor.

Is Shiba Inu Coin A Buy Right Now?

From the perspective of a long-term investor, if you want to invest in Shiba Inu, it's the right time to do that as Shiba prices have significantly dropped in the last few days and the coin is currently trading at relatively low prices. But it's also worth mentioning that you should be very careful when investing in this crypto.

Analysts consider SHIB a good long-term investment as the project has serious objectives and goals that can bring changes to the market. Traders use it to make a profit on price movements. 

So, Shiba Inu can be a good short-term investment as it's a speculative asset. After all, it's a meme coin, and you had better avoid this crypto if you are afraid of losing your money. With that in mind, the case was the same for coins like Dogecoin, and even... Bitcoin.  

Read Also: 15 Reasons Why You Should Invest in Shiba Inu Today

How To Buy Shiba Inu (SHIB) Coin Online In The USA 

For those who are based in the USA and want to invest in Shiba, here is a step-by-step guide on how to get started. 

1. Find a USA Regulated Crypto Exchange

Having decided to invest in Shiba Inu coins, your first step is to find a crypto exchange platform that supports Shiba Inu and works in the USA. You need to know that different exchanges charge different fees, so while selecting the appropriate platform, pay attention to the types of fees it charges. Another thing to take into account in this process is how quick and easy it is to transact through the exchange. With this in mind, here are two of the most well-known exchange platforms that you can use to buy Shiba Inu coins in the USA. 

2. Register for an Online Account and Fund Your Account

The next thing to do after selecting the exchange platform is to register for an online account. You must fill in your personal information (name, birthday, etc.) and then pass through various verification phases depending on the platform you are opening your account. 

After verifying your account, you also need to provide credit or debit card information (if the exchange accepts fiat currency as a payment method) and deposit some funds into your account. Otherwise, if you already own Bitcoin or any other cryptocurrency, you can simply transfer the funds to the exchange built-in wallet.

3. Buy Shiba Inu Coin

After finishing all these technical steps, you need to search for Shiba Inu and buy it. Or, if your platform does not allow you to buy Shiba directly, you must first purchase other cryptos like BTC or ETH and then swap it with Shiba Inu. 

4. Transfer Your Funds to a Hardware Wallet

This step is not necessary, but it is recommended. So, after making your purchase, you can transfer your coins to a hardware wallet if you want to keep them more secure. Some crypto platforms offer their personal wallets, so you can use their wallets for this purpose. 

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eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. This is not meant to be tax advice or financial advice of any kind. The above information we compiled from online tax forums. Please, consult a CPA or lawyer if you have questions about filing your tax return, forms to use, or what is/is not taxable. eToro is not a tax advisor.

How To Trade Shiba Inu (SHIB) Coin In The USA 

This part of the article will guide you on how to actively trade Shiba Inu coins in the USA.

1. Find a Crypto Platform that Supports Shiba Inu

To start trading Shiba Inu, you first need to find a platform that supports this cryptocurrency and accepts USA residents. Trading platforms usually differ in the amount and types of fees they charge. Some platforms are easy to use, while others don't work too fast and are pretty hard to use. So, try to consider these two factors in making the final decision based on your needs. 

2. Fund Your Account

The second step is about the technical parts of the process. Here, you need to create an account; verify your identification, and finally fund your account in order to be able to trade Shiba Inu. 

3. Find a Trading Strategy That Works For You

Before starting the trading process, it would be better to find a trading strategy that matches your personality. You can find lots of trading strategies on the Internet, explore them and choose whatever you find most suitable for you. You can select an active or a passive strategy - Active trading, for example, include day trading, scalping, swing trading, trend trading, etc. The "Buy and hold" strategy is one of the passive investment strategies. 

Crucially, here you must understand that the main difference between passive and active trading is that in the case of active trading, you need to actively follow the crypto market's changes, news, crypto prices, etc. However, for passive trading, you don't have to spend too much time on such things. But, the mechanism in both cases is the same - you buy and sell crypto to make some profit from its price fluctuations.

Take note that some platforms also provide a demonstration account to help you get familiar with the platform and to test different trading strategies before risking real capital.

4. Start Trading Shiba Inu Coin

That's it, when you have a verified account and a trading strategy, you can start trading the Shiba Inu coin. However, if you cannot make a final decision about investing or not, here is some more information about Shiba Inu to help you get more decisive in your investment decision. 

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eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. This is not meant to be tax advice or financial advice of any kind. The above information we compiled from online tax forums. Please, consult a CPA or lawyer if you have questions about filing your tax return, forms to use, or what is/is not taxable. eToro is not a tax advisor.

Shiba Inu (SHIB) Advantages And Disadvantages

Here are some advantages and disadvantages about Shiba Inu that will help you better understand whether or not you should buy it. 

Advantages of Shiba:

  • It’s a good speculative asset for beginners
  • Has gained massive interest in a short time
  • Its' price is very cheap 
  • Meme coins are becoming popular in the crypto market. 
  • Meme coins are promoted by celebrities, entrepreneurs, etc. 

Disadvantages of Shiba:

  • Many think it’s a bubble that will burst in the near future.
  • It has quite a famous rival in the market - Dogecoin.
  • Crypto analysts don’t consider it a good long-term investment. 

Read More: Pros and Cons of Investing in Shiba Inu Coin

Shiba Inu (SHIB) Price Prediction

According to the Shiba price prediction offered by Wallet Investor, Shiba is set to rise to $0.0000586 in 2022, to soar all the way to $0.000160 by December 2025.

Based on Shiba projections from Coinpriceforecast, the SHIB coin price is expected to rise significantly in the coming years, trading at $0.00006189 in 2022, $0.0009683 in 2023 and $0.00015696 in 2025.

Digital Coin Price is also very bullish in Shiba INU price predictions. According to them, Shiba prices will double in the next year, reaching $0.0000608 in 2025, and hit above $0.0000985 only in 2028.

And now for Shiba price prediction. We analyze all the information from the top SHIB price forecasters and put together what are the most likely prices we could see in the next 10 years.

As per experts the price prediction of Shiba (SHIB) might continue the gradual upward trend. And as per our data, by the end of 2025, it would be able to cross the $0.00013 mark. The predicted high for 2025 might be more than $0.00016, and on the downside, the low might be around $0.00006.

Don't Miss: Shiba Inu Price Predictions

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eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. This is not meant to be tax advice or financial advice of any kind. The above information we compiled from online tax forums. Please, consult a CPA or lawyer if you have questions about filing your tax return, forms to use, or what is/is not taxable. eToro is not a tax advisor.

What Is The Total Supply Of Shiba Inu (SHIB)?

According to Coin Market Cap, there are approximately 549,063.28B SHIB tokens in circulation with a market capitalization of about $10 billion. The maximum number of Shiba tokens that can ever exist in the future is 1 quadrillion (1,000,000,000,000,000), which means that almost half of the tokens are already in circulation. 

Things To Consider Before You Invest In Shiba Inu (SHIB) In The US

In conclusion, Shiba Inu is among the meme coins that gained lots of interest recently. Launched in 2020, the Shiba Inu cryptocurrency project became popular in a short time, and is, in fact, one of the top-performing in the world in 2021. In general, the coin has a value as you can use on crypto exchanges, however, the project does not set any serious ideas or objectives that can bring revolutionary changes to the crypto market. This is why it's not considered a good long-term investment. 

That said, the crypto market is another story. Looking ahead, Shiba prices are actually expected to rise in the near future, largely due to the fact that there's a huge hype around Shiba right now, especially on social media networks like Reddit. However, we should mention that Shiba Inu is considered a speculative asset, so you need to think carefully before investing in it. 

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eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. This is not meant to be tax advice or financial advice of any kind. The above information we compiled from online tax forums. Please, consult a CPA or lawyer if you have questions about filing your tax return, forms to use, or what is/is not taxable. eToro is not a tax advisor.

Read More:

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