How to Buy Shiba Inu Coin (SHIB)

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Lookout Dogecoin, Shiba Inu is the next breakout cryptocurrency.

“Where can I buy Shiba Inu?” is a common question among cryptocurrency novices on social media.

You’ll be relieved to learn that it’s quite straightforward and simple to find out where to buy Shiba coin.

With its tremendous popularity, you can now get Shiba Inu on most cryptocurrency exchanges, including eToro and Crypto.com in just three simple steps.

Shiba Inu

Buy SHIB, the "Dogecoin killer", on the world's most popular cryptocurrency exchange: eToro.

BUY SHIBA INU

What is Shiba Inu?

Shiba Inu is a cryptocurrency similar to the meme-worthy and beloved coin Dogecoin. Although related to Dogecoin, the Shiba Inu token aims to do far more than its canine cousin. The coin has developed a DeFi ecosystem powered by its decentralized exchange, ShibaSwap, by using Ethereum’s powerful network.

Shiba Inu has a market worth of nearly $20 billion as of October 2021, making it the 11th most valuable cryptocurrency by market cap.

Despite the fact that Dogecoin has remained stagnant, the price of Shiba Inu has risen dramatically in October. Even though both cryptocurrencies have a doggy-themed mascot, they operate in quite different ways.

Shiba Inu is a cryptocurrency built on Ethereum, whereas Dogecoin has its own blockchain. Shiba was just listed on Coinbase, allowing millions of people to invest in the cryptocurrency. Some investors believe that Shiba Inu’s recent price increase is due, at least in part, to the Coinbase listing.

How to Buy Shiba Inu (SHIB)

Step 1: Choose an Exchange

Customers may trade Shiba Inu on various online exchanges when they are looking for SHIB. SHIB is also accessible on decentralized exchanges based on Ethereum.

Crypto.com, eToro, Binance, and the most popular online exchange Coinbase are all the most prominent ways to invest in and trade Shiba Inu. Each of them has its own processes to open an account but they all maintain similarities to create your first investment.

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Coinbase offers over 25 cryptos to trade, invest, or stake in. If you want to diversify your income sources through cryptocurrencies, Coinbase is an ideal platform to buy, sell, or even build your crypto portfolio.

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All you have to do to open an account with one of these crypto exchanges is supply an email address and establish a password. But, you’ll need to authenticate your identification for tax considerations before you start trading. Remember that the government gets involved in any sort of online trading.

Your Social Security Number, a photo of your driver’s license, and your birthdate are among the details you’ll need to supply to the exchange.

Related: Coinbase vs eToro: Cryptocurrency Trading Comparison

Step 2: Fund Your Account

Your account will be enabled after your ID has been validated. You can deposit fiat, or traditional, dollars after your account is authorized. It might be US Dollars or any other currency that they accept. Bank transfers from a checking or savings account, PayPal, wire transfers, a cryptocurrency wallet, or even a credit or debit card are all options for funding your accounts.

Step 3: Buy SHIB

After you’ve financed your wallet, you’ll be able to buy Shiba on the appropriate exchanges. After you’ve purchased your share, you’ll keep it in the wallet of your choice (more on that shortly). Following your purchase, you’ll want to maintain a careful eye on your investment’s increasing – or dropping – worth.

Is Buying SHIB Risky?

The fact is that buying Shiba Inu coin is a dangerous business. It was founded as a parody of Dogecoin itself a parody of Bitcoin, and its ascent to prominence is mostly due to retail investors purchasing the cryptocurrency in large quantities in order to push up its price and profit quickly.

All cryptocurrency investments are risky but SHIB feels riskier than many because its stability and popularity feel shaky and like they could collapse when people lose interest and move onto the next fad coin.

Keeping SHIB Safe in a Wallet

A crypto wallet is a great way to keep your new SHIB investment safe. How does it work and how can you rest assured that it will stay protected at all times?

The key to safety in a wallet is…keys. Private keys are stored in digital wallets. A Shiba Inu Coin holder cannot access his or her account, much let alone their tokens, without these keys.

The most serious threat to Shiba Inu security is the loss of private keys, either via forgetfulness or theft by a third party. When this happens, the wallet’s genuine owner will lose all of their assets.

With the use of private keys and a digital wallet, it will be nearly impossible for anyone to penetrate your account and get ahold of your SHIB purchase.

Best Crypto Wallets for Shiba Inu

If you’re thinking about crypto wallets, here are some of the top options:

ZenGo

Since it is a software wallet, ZenGo can be installed and used with relative ease. All you have to do now is download it and set up your Shiba Inu tokens.

ZenGo wallet is a strong option for storing NFTs, and it’s easy to trade crypto with their platform. If you’re searching for a software wallet, this could be the best one.

Ellipal Titan

It’s a hardware wallet that supports over 7,000 cryptocurrencies, including Litecoin, Bitcoin, XRP, and Shiba Inu.

This wallet has a touchscreen interface, making it simple to view your portfolio whenever you want. It might be a little pricey, but you get protection in return.

Related: 8 Best Crypto Savings Accounts

How to Trade, Sell or Convert Your Shiba Inu Tokens

If you want to trade your tokens, Uniswap is an option. It allows you to convert cryptocurrencies to Ethereum tokens.

If you don’t already have one, you can connect your Ethereum wallet to your Uniswap account and the new crypto amount will be displayed there.

You may also sell the tokens on another exchange or trade them for other cryptocurrencies, then turn them into USD.

Should You Buy Shiba Inu Coin?

If you are a new investor who is looking for a new, hip, fun coin, SHIB is a great investment for you. However, if you are looking for a fool-proof, sure-fire success that doesn’t end any time soon, you might want to avoid this coin.

While it is successful now, there is a chance that it won’t be that way forever. Proceed with caution when investing in SHIB. However, if you want to be a part of the newest big thing in crypto, you should invest in SHIB.

Where to Buy Shiba Inu Coin

SHIB is a popular coin that has taken the internet by storm. Its current value is low but much higher than it once was. The coin also has a lot of potential to become more and more successful.

However, it is important that people remember there are great risks with SHIB. Popularity – and value – could disappear seemingly overnight. Like most crypto coins, any investors should study the market and make an informed choice before buying.

FAQs

Will SHIB reach $1 per coin?

Even though SHIB has been very popular among investors and its value has exploded in some major, surprising ways, it is still very unlikely that SHIB will reach the value of $1 per coin. Even at its peaks, it was still far, far less valuable than a single dollar. That means that it would need to see the sort of growth that has never occurred in the crypto industry in order for it to be worth $1. The sort of growth needed simply has never occurred in the entire history of cryptocurrency.
SHIB will continue to grow in popularity and will get more valuable but its chances of hitting $1 are slim.

Can you buy Shiba on Robinhood?

Currently, you cannot buy Shiba Inu on the wildly popular trading platform Robinhood. However, that could change in the future. As SHIB continues to gain popularity and create more fans and investors, there is a good chance that Robinhood will take note and add it to its stable of crypto available to subscribers.

How much does Shiba Inu cost?

Currently, SHIB is worth .00005270, which is considerably higher than it once was but still a ways away from its peak of just a few weeks ago.

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About the author

Brian Meiggs
Brian Meiggs is a personal finance expert, and the founder of My Millennial Guide, a personal finance site helping you put more money in your pocket. He helps millennials follow the smart money in order to increase their earning potential and start building wealth for the future. He regularly writes about side hustles, investing, and general personal finance topics aimed to help anyone earn more, pay off debt, and reach financial freedom. He has been quoted as a top personal finance blogger in major publications including Yahoo! Finance, NASDAQ, Discover, MSN Money and more.

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