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Shiba Inu sprung to prominence during late 2021, fuelled by the remarkable attention garnered by Dogecoin. Although the coin's price has dropped since the highs of October 2021, Shiba Inu still has tremendous potential for the months and years ahead.
This guide will discuss how to buy Shiba Inu coin online in detail, exploring the coin's features and value potential, before highlighting how you can invest in Shiba Inu today – with low trading fees.
Virtual currencies are highly volatile. Your capital is at risk.
The four easy steps below will show you how to buy Shiba Inu crypto in a matter of minutes using our top recommended broker. eToro:
Virtual currencies are highly volatile. Your capital is at risk.
Given Shiba Inu's success over the last six months as one of the best meme coins, many of the world's top crypto exchanges now offer the meme coin as a tradable asset. With that in mind, reviewed below are four of the most effective platforms for buying SHIB today:
Our number one platform in regards to how to buy Shiba Inu coins online is eToro. The platform has developed a stellar reputation within the trading scene over the past few years, with strict regulation from entities including the FCA, ASIC, CySEC, FINRA, and FinCEN. The platform itself is best known for its low trading fees and beginner-friendly features, making the trading process extremely easy.
Firstly, eToro's fee structure is incredibly appealing, as the platform only charges a 1% transaction fee (plus the spread) when opening or closing a position. This means that when you buy Shiba Inu cryptocurrency, there are no other hidden fees to worry about other than what is expressed when you place a trade. Notably, eToro charges no deposit or monthly account fees, making the entire process very cost-effective.
The deposit process itself is streamlined, as eToro allows users to fund their accounts from as little as $10. Deposits are accepted from all major credit/debit cards, along with bank transfers and e-wallets – including PayPal. This ensures it's easy to create a diversified portfolio, as eToro now offers over 45 different coins to trade.
eToro also boasts numerous exciting features, including the platform's popular 'CopyTrader' feature. This feature allows users to automatically copy the trades placed by other eToro users, streamlining the process of investing in the best altcoins. Finally, eToro even offers a free demo account feature, ideal for newcomers to the financial markets.
Virtual currencies are highly volatile. Your capital is at risk.
Another top platform that offers Shiba Inu is Crypto.com. Crypto.com is known for having one of the best crypto apps, offering over 250 coins to trade. The platform's services are split between the web-based exchange and the trading app, ensuring there's an option for all investors.
The exchange will appeal to experienced traders and utilizes a 'maker/taker' model, meaning that you'll pay a 0.4% fee on either side of the trade. Notably, you can reduce this fee by 10% if you pay these fees in CRO – Crypto.com's native token. On the other hand, the app allows instant crypto purchases using a credit or debit card, with transaction fees waived during the first 30 days of use.
After this, Crypto.com will charge a 2.99% fee on any crypto purchases made using a card – although users can still deposit FIAT currency for free using various methods. Aside from this, Crypto.com offers a selection of valuable features, with its crypto interest account allowing investors to earn up to 14.5% interest on specific coins.
Virtual currencies are highly volatile. Your capital is at risk.
Coinbase is another option if you're wondering where to buy Shiba Inu, as the platform offers a wide array of crypto assets to trade through the browser-based platform or the Coinbase App. Beginner Users can invest in cryptocurrency in a selection of the best meme coins (including SHIB) using a credit or debit card, removing the need to own crypto beforehand.
Coinbase's fee structure can be pretty complex at first glance, as each trade will accrue a 'Coinbase Fee' plus the spread. The spread usually hovers around 0.5%, although the Coinbase Fee can vary wildly depending on trade volume and payment method. However, users who opt to use Coinbase Pro, Coinbase's exchange platform, will pay a taker fee of 0.6% and a maker fee of 0.4%.
In terms of security, Coinbase stores the vast majority of customers' holdings in cold storage, protecting them from cyberattacks. Furthermore, all USD cash balances on Coinbase are covered up to $250,000 through FDIC insurance. Finally, Coinbase also has numerous compelling features, including a beginner-friendly crypto staking service for supported coins.
Virtual currencies are highly volatile. Your capital is at risk.
The final place we'd recommend if you're researching where to buy Shiba Inu crypto is Binance. Most people will have heard of Binance, as it is currently the world's largest cryptocurrency exchange, according to CoinMarketCap. Binance is best known for its colossal asset selection, allowing investors to trade altcoins (including SHIB), crypto-to-crypto pairs, and a selection of the top DeFi coins.
Binance operates at the lower end of the spectrum in terms of fees as investors only need to pay a 0.1% fee when they open or close a trade. Interestingly, investors can reduce these trading fees by 25% if they are paid in Binance Coin (BNB) – Binance's native token. The platform also allows investors to instantly purchase cryptos using a credit or debit card, although this can attract a fee of up to 5% per trade.
Binance also supports free FIAT deposits via ACH, although the funding can take a few days to arrive. Aside from its low fees, Binance is also popular with experienced traders due to the extensive tools and features on the Binance exchange platform. These include advanced price charts, technical indicators, and order book data.
Virtual currencies are highly volatile. Your capital is at risk.
Before we dive into how to buy Shiba Inu coins in more detail, let's take a detailed look at what the coin is and its various use cases. Investors who opted to buy Dogecoin last year will likely have heard of Shiba Inu, as the coin was launched in August 2020 in an attempt to capitalize on the mass appeal that Dogecoin generated. The coin's founder, Ryoshi, remains anonymous to this day and has opted never to own any SHIB tokens.
According to Shiba Inu's whitepaper (titled the "Woofpaper), the coin is entirely decentralized and aims to be the 'Dogecoin killer'. However, what sets Shiba Inu apart from Dogecoin is that the former is hosted on the Ethereum blockchain. Ultimately, this allows Shiba Inu to leverage the power of smart contracts – giving Shiba Inu many more use cases than DOGE.
However, up until now, SHIB has mainly been used as a payment method, similar to many other cryptocurrencies. According to cryptwerk.com, Shiba Inu coin is now accepted by over 640 merchants worldwide in industries such as tourism, gambling, gaming, and more. Although this isn't anywhere near Bitcoin's dominance, it does highlight the niche that SHIB has carved out.
Virtual currencies are highly volatile. Your capital is at risk.
Shiba Inu crypto is one of the best cryptocurrencies to invest in. Given the incredible price rise that Shiba Inu saw last year, you may be wondering whether SHIB crypto remains a good investment opportunity. Considering that, detailed below are five reasons why you may still wish to invest in Shiba Inu today:
The first thing you'll notice when researching how to buy Shiba Inu crypto is the excellent community backing that this coin benefits from. This backing is clearly evidenced by the Shiba Inu subreddit, dubbed the SHIBArmy, containing nearly 500,000 members. In addition, Shiba Inu is still discussed regularly on Twitter and crypto forums, which isn't the case for many other altcoins.
Investors who follow Ethereum regularly will understand the smart contract capabilities that the network has. Since Shiba Inu is hosted on the Ethereum blockchain, the coin can leverage these capabilities to bolster its use cases. Ultimately, this helps to 'futureproof' the currency, which is challenging to do for cryptocurrencies without smart contract integration.
Following on from the smart contract information presented above, Shiba Inu has also developed other use cases aside from being used solely as a digital currency. One of the most compelling use cases is ShibaSwap, the decentralized exchange (DEX) focusing on dog-related meme coins. This allows users to provide liquidity and generate BONE, the token used to govern the DAO.
It goes without saying that Shiba Inu still has tremendous upside potential, given the coin's relatively small market cap. As noted by CoinGecko, Shiba Inu's market cap is only $13.4bn, with a current price of only $0.00002458. Due to these factors, relatively minor price increases will result in huge returns for investors, which was evidenced in October 2021.
Finally, following the path set by many new NFT projects, Shiba Inu's creators have decided to delve into the metaverse. The creators announced the concept of the 'ShibVerse', which would be Shiba Inu's version of a virtual world. Although details on this project are still scarce, there are rumors it could include virtual land and in-world items structured as NFTs.
Virtual currencies are highly volatile. Your capital is at risk.
Did you know that Shiba Inu is one of the most potential cryptocurrency that is set to explode in 2023?
Given Shiba Inu's recent fall from grace, what can we expect from the coin in the future? Many market commentators believe that Shiba Inu can still be considered one of the most undervalued cryptos due to its tremendous community backing and numerous use cases. The upcoming dive into the metaverse and NFT space could provide the impetus needed for an upwards push.
From a technical perspective, SHIB has rejected the support level at $0.000020 three times since the beginning of 2022. The third rejection occurred just a few days ago and resulted in a 17% rise in price. If Shiba Inu can break past the minor resistance level noted around $0.000027, we could see a push back to the highs of early 2022 in the short term – equating to a return of 87% from today's price.
Virtual currencies are highly volatile. Your capital is at risk.
The next step in the process of buying a Shiba Inu coin is deciding how to facilitate your investment. Discussed below are two of the most popular methods you can use to purchase SHIB in the market today:
Investors who prefer to buy Bitcoin with PayPal may also wish to use this payment provider to facilitate their Shiba Inu investment. At present, PayPal doesn't allow users to purchase SHIB directly through their platform, as their asset selection is quite limited.
However, eToro users can make instant deposits into their trading balance using PayPal and then use these funds to buy Shiba Inu coins. Crypto.com also allows users to make FIAT deposits using PayPal; however, unlike eToro (which is free), Crypto.com will charge a 2.1% transaction fee when taking this approach.
Virtual currencies are highly volatile. Your capital is at risk.
One of the easiest ways to purchase Shiba Inu instantly is by using a credit or debit card. All of the platforms that we reviewed earlier in this guide on how to buy Shiba Inu coins will allow clients to make payments using major card providers. Usually, this will take one of two forms – either making a FIAT deposit or directly purchasing the crypto using a card.
The former option is offered by eToro and removes all of the fees associated with making instant card purchases. Furthermore, since eToro allows deposits from only $10, this process is ideal for beginner investors. On the other hand, the other three platforms we discussed earlier enable users to purchase SHIB directly using a credit or debit card – although this tends to be accompanied by a high transaction fee.
Virtual currencies are highly volatile. Your capital is at risk.
Another critical thing to consider when researching how to buy Shiba Inu coins is where you will hold the coin post-purchase. Since SHIB could be one of the best long term crypto investments, it's vital to set up a crypto wallet that can store your holdings safely for an extended period.
These crypto wallets are specifically designed for handling digital assets and come in various types. 'Hot wallets' are the most accessible, although there is always the potential for hacking since they are connected to the internet. On the other hand, 'cold wallets' are not as widely used since they are physical hardware wallets, although they are deemed much safer since they keep users' crypto holdings offline.
There are numerous wallet providers now, each offering a slightly different set of features and benefits. However, we recommend using eToro Money, one of the best crypto wallets for beginners and experienced investors. This wallet is available to all eToro users and can be downloaded for free on iOS or Android.
Although eToro itself is regulated by several top-tier entities, the app also boasts regulation by the GFSC, providing a solid level of investor protection. In terms of security, the app features an unlosable private key, multi-signature facilities, DDoS protection, and numerous standardization protocols.
The eToro Money also supports many popular cryptocurrencies, making it easy to diversify your assets. Finally, users can even exchange one coin for another directly within the wallet's interface – removing the need to hop back and forth between platforms.
Virtual currencies are highly volatile. Your capital is at risk.
Before rounding off this guide on how to buy Shiba Inu coins, it's essential to discuss the trading process. Much like when you invest in Ethereum, buying SHIB involves creating an account with a respected platform and making your purchase via your laptop or smartphone.
With that in mind, the five quick steps below will walk you through the investment process with eToro – all whilst paying minimal trading fees.
First thing's first – head over to eToro's homepage and click 'Start Investing', Enter a valid email address and choose a username and a password for your account. You can even complete this process using your smartphone via the eToro app if you'd like.
Virtual currencies are highly volatile. Your capital is at risk.
Click 'Complete Profile' on your account dashboard and enter the personal details required for eToro's KYC checks. You'll then be asked to upload proof of ID (e.g. passport) and proof of address (e.g. bank statement), which eToro will verify.
Once verification is complete, click 'Deposit' on your dashboard and choose which payment method you'd like to use. eToro accepts the following methods for US-based clients:
Next, click the search bar and type 'Shiba Inu' or 'SHIB'. When the coin appears, noted as 'Shiba (in millions), click 'Trade'.
An order box will now appear, similar to the one below. In this box, enter your desired position size (minimum $10), check everything is correct, and click 'Open Trade'.
Virtual currencies are highly volatile. Your capital is at risk.
Now that you know how to buy SHIB, you may be wondering how to sell your SHIB coins once the time arrives. Luckily, the selling process with eToro is just as simple as the buying process and can be completed in a few clicks.
Whilst on your account dashboard, click 'Portfolio' to see all of your open positions. Click on Shiba Inu and click the red 'X' next to the position. A box will then appear asking you to confirm your choice – click 'Close Trade' to sell your SHIB holdings instantly.
Since the crypto market is open 24/7, you can close your Shiba Inu trade at any time. The trade balance will automatically be placed into your trading account, where you can withdraw it or use it for other investments.
In summary, this guide has taken an in-depth look at how to buy Shiba Inu coins, exploring the coin's features and use cases before providing a detailed walkthrough of the investment process.
If you're wondering where to buy Shiba Inu coins today, we recommend partnering with eToro. The broker has recently streamlined its fee structure, which has ensured a low-fee environment for crypto traders. What's more, since eToro's minimum investment amount is only $10, the platform is ideal for beginner investors.
Virtual currencies are highly volatile. Your capital is at risk.
Our recommended exchange for buying Shiba Inu is eToro. This is because eToro offers low trading fees and the ability to make deposits from as little as $10.
It is not too late to buy SHIB coins as it is still one of the top cryptocurrencies to buy today, although Shiba Inu has dropped significantly from all-time highs, the coin still possesses exceptional value potential. In the past few weeks, there has been some bullish momentum that hints at an upcoming reversal.
Through our research and testing, we've found the best place to buy Shiba Inu is eToro. eToro is heavily regulated and doesn't charge hefty trading fees, making it the ideal platform for investing in SHIB.
Virtual currencies are highly volatile. Your capital is at risk.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
