How to Buy Shiba Inu 2024 - Best Places to Buy SHIB

How to Buy Shiba Inu

You can buy Shiba Inu using an online cryptocurrency exchange. This is the simplest way to buy and sell crypto—all you need is a computer or mobile device. Below are our top recommendations for platforms that offer Shiba Inu and simple step-by-step instructions to buy SHIB.

1. Choose a platform

Start by finding a platform that offers SHIB and meets all your needs. The safest platforms are ones that are regulated and have strong security. The features provided and fees charged will vary from one platform to the next. Click on one of our top recommendations below to get started.

2. Create and fund your account

Click on the sign-up button and fill in some personal information on the registration form. Regulated platforms have a KYC process, so you will need to upload an image of your photo ID to prove your identity. Next, head over to the deposit page, choose one of the payment methods available in your country, and follow the instructions provided to make a deposit.

3. Buy Shiba Inu

Look for the trading pair for SHIB and your local currency. If there isn’t one, you may have to buy another cryptocurrency first, such as BTC or USDT, which you can trade against SHIB. You can use a limit order if you want to buy SHIB once it reaches a certain price. Otherwise, create a market order, enter the amount, and click the buy button to purchase SHIB instantly.

What is Shiba Inu?

Shiba Inu is an Ethereum-based meme coin inspired by the craze for canine cryptocurrencies such as Dogecoin. The project created ShibaSwap, a decentralized exchange (DEX) where users can SWAP tokens, as well as DIG (provide liquidity) and BURY (stake) them to earn returns. The platform also provides access to portfolio trackers and upcoming non-fungible tokens (NFTs).

Other parts of the project include the Shiba Inu Incubator, which supports artists from the Shiba Inu community, and an Amazon Smile campaign to help rescue Shiba Inu in the real world.

Shiba Inu has three project tokens, the first of which is SHIB. The token was created with a supply of 1 quadrillion, enabling investors to hold billions or even trillions of tokens. SHIB was designed to outpace Dogecoin in terms of growth, even if it never reaches $0.01, which earned it the nickname of the “Dogecoin killer”. SHIB coins can be swapped, staked, and used to provide liquidity on the ShibaSwap DEX.

The other two tokens in the Shiba Inu ecosystem are LEASH, which was originally a rebase token, and BONE, which functions as a governance token.

Find out more about the invention of the Shiba Inu coin and its benefits on our main What is SHIB? page.

A Brief History of Shiba Inu

The Shiba Inu coin was launched in August 2020 by the pseudonymous “Ryoshi”. The initial supply of SHIB was 1 quadrillion, half of which Ryoshi sent to Ethereum founder Vitalik Buterin. In May 2021, Buterin donated 10% of his SHIB holdings to charity and permanently destroyed the rest.

The LEASH token had been recently created at this point, and this was followed in July by the launch of the ShibaSwap DEX. In September 2021, the BONE token was launched to provide community members with governance rights.

Shiba Inu is expanding into the Metaverse with an NFT-powered virtual reality project. The introductory phase of SHIB: The Metaverse launched in April 2022, when some of the digital lands became available for sale.

The full launch of the Metaverse will be facilitated by the launch of Shibarium, a Layer-2 scaling network that will host the Shiba ecosystem and lower transaction fees for its users.

What Payment Methods Can I Use to Buy Shiba Inu?

You can use a variety of different payment methods to purchase SHIB. Some of the most popular options are detailed below.

Buy Shiba Inu With a Credit/Debit Card

Cards are one of the most popular payment methods due to their convenience and broad acceptance. All the platforms listed in this guide accept cards, with the main disadvantage being the fees. Binance charges a 1.8% fee for card deposits, and instant card purchases on Coinbase can incur much higher fees. However, you can make card deposits for free on eToro and Capital.com.

Buy Shiba Inu With a Bank transfer

Bank transfers are also fairly widely accepted and are often the cheapest deposit method. Bank deposits are free on Binance in a number of currencies and only cost £1 or €1 when depositing pounds or euros, respectively. You can also make free bank deposits on eToro and Capital.com.

Buy Shiba Inu With Skrill

Paying online is made quick and easy by digital wallet provider Skrill. It is not as widely accepted as the previous methods—Binance and Coinbase don’t accept Skrill, for example. But you can use Skrill to deposit for free on eToro or Capital.com, while Bitpanda also accepts Skrill for USD, GBP, EUR, and CHF deposits.

Buy Shiba Inu With Neteller

Neteller is an e-money transfer service with similar benefits to Skrill. Although you can’t make Neteller deposits on Coinbase or Binance, you can use Neteller to make free deposits on eToro and Capital.com, while Bitpanda accepts Neteller deposits for EUR, GBP, and CHF.

Buy Shiba Inu With PayPal

PayPal is a cheap, fast, and convenient way to make payments online, but unfortunately, it isn’t widely accepted by crypto platforms, especially outside of the US. If you want to use PayPal to make a deposit, you will need to sign up for eToro, where you can do so for free.

How can I Buy Shiba Inu Coins - Step-by-Step Guide

One of the easiest ways to buy SHIB is to use eToro , and the steps below will walk you through the process in detail.

1. Create a free account

Click the “Join Now” button on the eToro website and then complete the registration form by filling in your username, email address, and password. Agree to the terms and conditions by ticking the boxes and then click the “Create Account” button.

2. Verify your account

You will be emailed a link that you will need to click to verify your email address. The next step is to complete your profile by providing details such as your full name, date of birth, address, and previous investing experience. You may be asked to verify your identity at this point by uploading an image of a photo ID, like a passport or driving licence.

3. Make a deposit

To fund your account, you will need to click on the “Deposit Funds” button and fill in how much you want to deposit. Select your local currency and your preferred payment method from the dropdown lists, and fill in any payment details required. When you’re ready, click the “Deposit” button.

4. Buy SHIB

Type SHIB into the search bar at the top and click on SHIBxM (1 SHIBxM is the equivalent of 1 million SHIB). Click the “Trade” button and switch to Order if you want to create a limit order to buy SHIB once it reaches a certain price. If you want to buy SHIB straight away, just enter an amount and click “Open Trade”.

Ways to Invest in Shiba Inu

You may decide to buy Shiba Inu just for a short period of time or hold onto it for the long term. Both approaches are popular with buyers, and you will need to consider your own skills and goals when deciding what course of action to take.

Buy and hold Shiba Inu

As you might have guessed, this strategy simply involves buying SHIB and holding onto it. You won’t have to spend time and effort monitoring the market, as this strategy can be profitable for people with minimal knowledge and skill.

While you’re holding onto your SHIB, you also have the opportunity to generate some extra income. You can stake your tokens or use them to provide liquidity through ShibaSwap to earn rewards.

Trade Shiba Inu

Those with more time and skill may choose to trade SHIB, which involves buying and selling over shorter timeframes to take advantage of volatility. You may have to monitor the market more closely to identify the best entry and exit points.

Alternatively, you can trade derivatives of SHIB to potentially make a profit without actually owning SHIB. You can do this by trading CFDs on Capital.com, or by trading futures and options on Binance. Whether these products are available to you will depend on your location.

Stake Shiba Inu

SHIB holders can also stake their tokens to earn rewards passively. You can do this on the ShibaSwap DEX with the “BURY” tool. You can also use a platform such as Binance to earn SHIB rewards.

Staking can be combined with a buy-and-hold strategy to generate some extra income from your long-term investment.

Choosing the Best Shiba Inu Wallet - Where to hold your Shiba Inu?

The best place to store your SHIB depends on factors such as how much you have and what you plan to do with it. The most popular crypto wallets are described below.

Shiba Inu Software Wallets

• Web wallet: This is the most convenient wallet for small-scale investors and those who make regular trades. It is free to use, but also the most vulnerable to hacking, which is why using a secure and regulated platform is important. eToro, Coinbase, Binance, and Bitpanda all provide free web wallets where you can store SHIB.

• Mobile wallet: You can download a mobile wallet for your smartphone, and they provide a convenient way to manage your SHIB from anywhere. The Shiba website recommends downloading a MetaMask wallet for your tokens, while Freewallet and Exodus also provide mobile wallets for SHIB.

• Desktop wallet: Desktop wallets are similar to mobile wallets but are downloaded onto a desktop. There are desktop wallet versions of Exodus and Atomic that you can use to store your SHIB.

Physical and Hardware Wallets

• Hardware wallet: This is the most secure, albeit the most expensive, type of wallet, making it ideal for those who are holding a large amount of SHIB for a long time. Ledger, BitBox, and Trezor all provide hardware wallets that support Shiba Inu.

• Paper wallet: You can use an online key generator to create a private and public key, and then write them down to create your paper wallet. However, this isn’t considered a safe way to store your SHIB.

Wallet Combinations

You can use the Ledger hardware wallet in conjunction with the Ledger Live app, making it easy to manage your coins. Also, those who engage in both trading and investing may find it more convenient to use more than one type of wallet simultaneously. For example, you could hold some SHIB for the long term in a hardware wallet, while also keeping some SHIB in a web wallet where it is easier to trade.

Is Shiba Inu a Good Investment?

This is for you to decide, but we can provide you with some information before you make your decision. Although the starting supply of SHIB was 1 quadrillion, half of this was sent to Ethereum co-founder Vitalik Buterin. He sent 10% of his SHIB holdings to charity, temporarily panicking and depressing the market, and then burned the rest. This huge reduction in supply could make SHIB more valuable.

The fact that SHIB crypto can be used to earn rewards on ShibaSwap creates demand for the token. Some of those rewards are time-locked, incentivizing SHIB holders to stake their tokens or provide liquidity with them for longer periods of time. This results in less SHIB available on the market, which could be good for its price.

The internet and hype are key factors for SHIB’s value. Early investors have seen astronomical returns as the token surged in popularity. Holders spreading the word and social media trends have the power to move the price of SHIB.

The smart contract functionality of the Shiba Inu project has enabled the development of applications such as the ShibaSwap DEX, and the launch of Shiba Inu’s Layer-2 scaling network, Shibarium, will make it much cheaper to build and use projects in the Shiba ecosystem.

One of the exciting projects that will be hosted on Shibarium is SHIB: The Metaverse, a virtual reality game powered by NFTs. SHIB can be used to purchase parcels of digital land in the metaverse, which could create more demand for the token and ultimately increase its value.

Shiba Inu has developed into a vibrant ecosystem with a large community. The utility of SHIB makes it much more than just a meme coin, and the passion of the “ShibArmy” could see Shiba Inu become a long-lasting and valuable project. The big question will be how Shib will hold up against all the other dog-themed cryptocurrencies.

Should I Buy Shiba Inu Now? - Things to Consider Before Buying Shiba Inu

The section above should help inform your decision about whether now is a good time to make a purchase, but there are a few other considerations, which we have detailed below.

Shiba Inu Fees & Regulations

When you send SHIB from one wallet to another, you will need to pay a fee. As SHIB is an ERC-20 token, SHIB transactions incur Ethereum gas fees, which can sometimes be quite high during busy periods. However, the launch of the Layer-2 network Shibarium should significantly reduce the fees.

If you buy SHIB on a platform, your platform may charge its own fees. There is often a fee for making deposits and/or withdrawals. You will also likely need to pay a trading fee or commission on each purchase or sale you make. Some platforms may charge other fees for things such as account management, inactivity, and overnight fees.

You should check the crypto regulations for your country before making an investment. In most countries, it is legal to buy cryptocurrencies like SHIB. However, their decentralized nature makes them difficult to regulate, and it is likely that you won’t have any protection or recourse to compensation if you lose money.

Shiba Inu Price

The price of SHIB is affected by a variety of factors, many of which we have already touched upon. Hype and social media attention can affect SHIB’s value, such as the spike in price that occurred after Buterin announced he had burned nearly half the supply.

The performance of the rest of the crypto market can also have an impact—SHIB surged to a new all-time high towards the end of 2021, when many other coins were also rallying during a major crypto bull run. Announcements, project developments, and the launch of applications that provide more utility for SHIB are other factors that can affect the token’s value.

SHIB has provided astronomical gains for investors in the past, and ongoing project developments and exciting upcoming projects could point to more price potential in the future. This is why many favor using a buy-and-hold strategy for SHIB. On the other hand, the significant volatility of SHIB’s price could also make it a profitable asset for traders.

Shiba Inu Price Prediction

Traders and short-term investors may aim to buy SHIB when its price is about to rise. When predicting what the price of SHIB will do next, it can be useful to develop technical analysis skills, such as studying indicators and trends on a price chart.

Understanding crypto market cycles is very important when anticipating price action. With the crypto market as a whole, we have seen a pattern of dramatic price surges followed by huge crashes, which repeat roughly every four years. Looking at the behavior of the rest of the crypto market, especially Bitcoin and Dogecoin, can help with predicting SHIB’s next move.

There are also a variety of events that could lead to a surge in interest and, therefore, price. For example, when Shiba Inu receives attention on social media or in the news due to a celebrity endorsement, an upgrade, or the launch of a new app. See our SHIB price prediction page to learn more about what drives SHIB price.

Buying Shiba Inu Safely & Securely

A regulated platform is the safest way to purchase SHIB, as they tend to have the best security, offering features like offline storage, data encryption, and sometimes insurance. If there are optional extra security steps, like two-factor authentication, you should always enable them.

Set up your account with a strong and unique password, and change it from time to time. You will need to be wary of potential crypto scams, such as phishing emails designed to look like they were sent by your platform. It is important that you never reveal your password to anyone.

Where you keep your SHIB is also crucial, as criminals could attempt to hack into valuable wallets. A hardware wallet is the most secure place to store SHIB, and you should never share your private key with anyone. You should keep your seed phrase somewhere safe in case you ever need to recover access to your wallet.

Buying Shiba Inu with a P2P Exchange

An alternative to buying SHIB on a regulated platform like the ones in this guide is to use a P2P exchange. This involves buying SHIB directly from another user, and it can be popular with people who want to remain anonymous.

The danger of this is that these platforms tend to be unregulated, and the lack of identity verification can attract criminals. If you get scammed and lose your money, you may not have any recourse to retrieve your funds.

P2P exchanges are sometimes less user-friendly than regulated platforms, and they also have fewer features, as they don’t tend to provide things like charts, asset custody, or staking opportunities. There are no fees for buying SHIB on a P2P exchange, but as the seller sets the price, you could still end up paying more.

What other platforms can I buy Shiba Inu on?

Here is a summary of some of the most popular platforms and whether you can use them to purchase SHIB.

Can I Buy Shiba Inu on eToro?

Yes. How to buy Shiba Inu on eToro is a straightforward process. Sign up with eToro, then verify your account in order to make a deposit. Once your account is funded, search for Shiba Inu and purchase the amount you would like.

Can I Buy Shiba Inu on Coinbase?

Yes, here’s how to buy Shiba Inu on Coinbase. Register for a Coinbase account and verify your details by uploading a photo ID. Next, make a deposit using your preferred payment method, and search for Shiba Inu to buy some SHIB.

Can I Buy Shiba Inu on Binance?

Yes. If you want to know how to buy Shiba Inu on Binance, just head over to Binance and sign up for an account. Verify your email address and identity, and then fund your account. Next, find Shiba Inu in the Markets section, and make your first purchase.

Can I Buy Shiba Inu on Robinhood?

If you are in the US, here is how to buy Shiba Inu on Robinhood. Head over to their website and create an account to get started, then navigate to the Shiba Inu page to make a purchase.

Can I Buy Shiba Inu on Trust Wallet?

Yes. If you want to know how to buy Shiba Inu on Trust Wallet, just download the Trust Wallet app and press the “Buy” button on the homepage. Search for SHIB, and follow the instructions to purchase some tokens.

Can I Buy Shiba Inu on Crypto.com?

Yes. If you’re wondering how to buy Shiba Inu on Crypto.com, you can either download the Crypto.com app or sign up for an account and then verify your identity. Next up, make a deposit, then search for the coin and make your first SHIB purchase.

Can I Buy Shiba Inu on Uniswap?

Yes, but this isn’t recommended for beginners. Here’s how to buy Shiba Inu on Uniswap. First, register with eToro and verify your account, and then make a deposit. Next up, buy some ETH and withdraw it to a Web 3.0 wallet like MetaMask. Now, head over to Uniswap and connect your wallet by following the on-screen prompts. Finally, search for SHIB on Uniswap and swap your ETH for Shiba Inu tokens.

Can I Buy Shiba Inu on MetaMask?

Yes. If you want to know how to buy Shiba Inu on MetaMask, you can either connect your wallet to a decentralized exchange or use the built-in swap feature.

Can I Buy Shiba Inu on MoonPay?

Yes. Here is how to buy Shiba Inu on MoonPay. Go to the SHIB page on MoonPay, enter how much you want to buy and your wallet address, verify your basic information and fill in the details for your preferred payment method.

Selling Shiba Inu

When is the best time to sell your SHIB could be affected by your strategy. Traders may decide when to sell based on signals they receive from technical indicators. Long-term investors, on the other hand, might decide to sell once they reach a certain profit margin.

You should find selling SHIB fairly easy as it doesn’t differ very much from the buying process. For instance, on eToro, go to your portfolio, select SHIBxM, and click the “Close” button. You can sell just some of your SHIB by ticking “Close only part of the trade”.

You may need to create a sell order to sell your SHIB on other platforms. You can use a limit order to set a price that you want to sell at automatically in the future or use a market order to sell immediately at the current price.

Is Ethereum or Shiba Inu better for NFTs

There is a very wide variety of NFTs available on Ethereum, from digital artwork to music to gaming items. When it comes to NFTs specific to the Shiba Inu project, the choice is much narrower as they are all Shiba Inu-related, but they likely hold more value for SHIB community members.

For example, the popular Shiboshi NFTs will have a role in the Shiba Metaverse and game, with the project lead suggesting that they could provide passive income for life. What’s more, the launch of the Layer-2 scaling network Shibarium will reduce fees and therefore make it cheaper to create and send NFTs with Shiba Inu.

Methodology - How we picked the best platforms to buy Shiba Inu

When deciding which platforms should make our list of the best places to buy SHIB, we have strict criteria and a testing process to ensure that we only provide our readers with the best recommendations and accurate information to help them make good investment decisions.

The things we test when evaluating platforms include the sign-up and deposit processes, coins and type of trading offered, user-friendliness, tools and features, speed and interface, fees, security, regulation, and customer support.

You can find out more on our How We Test and Why Trust Us pages.