how to buy shiba inu coin

As always, make sure to exercise caution when buying crypto. Tick the “Disclaimer” button and click “Confirm.” Follow the prompts to finish the payment process. “We believe through the power of collective decentralization, we can build something stronger than a centralized team could create,” SHIB’s founder Ryoshi (psuedonym) said. “A community-run token is nothing without the united individuals who give it purpose.” Owners of Ethereum have many options if they want to acquire SHIB. For instance, the popular MetaMask wallet allows you to convert ETH to SHIB directly.

how to buy shiba inu coin

The procedure to buy tokens through a Decentralized Exchange (DEX) varies slightly from using a centralized exchange because the latter has to comply with global KYC regulations. Every platform that accepts fiat funds transfer has to comply but DEXes don’t support fiat to crypto swaps. These are a few of the most important factors to consider while choosing a trading platform to use when buying SHIB or any other cryptocurrency. In the section on where to buy SHIB, we will provide an example of how you can use Coinbase, the leading US-based crypto trading platform. You have two main options when storing cryptocurrencies, such as SHIB. Storing your crypto on an exchange can be convenient and easier for beginners, but crypto exchanges can also be targets for hackers because of the amount of value they hold.

Why buy Shiba Inu Coins?

Once you’ve made a KuCoin account, here’s how to buy Shiba Inu. Please note that cryptocurrency is a highly volatile asset class; only invest what you can afford to lose. It’s important to remember that crypto assets are high-risk investments. Therefore, conducting thorough research is essential before making the decision to add Shiba Inu to your crypto portfolio.

Shiba Inu is based on the Ethereum blockchain, so when you initiate a transaction, the transaction is recorded on the blockchain and cannot be altered. This info is linked to all others in the block to form the blockchain, where transactions are finally approved with consensus. A critical step is to ensure that your information has been entered correctly, as any irregularities in your application could delay account approval. Once your account is approved or verified, you can instantly start trading. Its price reached an all-time high in October 2021 after Tesla CEO Elon Musk tweeted about the coin. But the price has fallen by more than 65% as of late April.

how to buy shiba inu coin

You will notice that now you have the $SHIB token listed on the Metamask wallet dashboard screen as shown below. On the Swap app page, you will need to link your Ethereum wallet to UniSwap. Click either of the two [Connect wallet] buttons found on this page to load up the available wallet options to which you can connect. Choose the amount you want to spend in your purchase from the available options or specify a custom amount by clicking on the [Custom] button and entering an amount you are looking to spend. For simplicity purposes, we will focus on the Shiba Inu token in this step-by-step guide, however, the same process could apply to the other two in some instances.

How to Buy Shiba Inu on UniSwap DEX (Step-by-Step)

To do this, you first need to find a physical or online seller willing to exchange their Shiba for money. When you both agree on quantity and price, the seller transfers the Shiba Inu to your Shiba Inu wallet address in exchange for your fiat. Digital currencies are types of currencies that you cannot touch or feel.

  1. Kraken is another US-based crypto exchange headquartered in San Francisco, California.
  2. This crypto exchange allows you to trade or swap your crypto directly with a buyer or seller by creating a connection to their crypto wallets, thereby removing the need for a central authority.
  3. Crypto deposits provide a compromise between instant purchases that are typically very expensive and bank transfers that are cheap but slow.
  4. Advanced users can use their existing Shiba Inu tokens at liquidity pools to gain rewards.
  5. Run through the details as shown on the screen and confirm if you are comfortable with the terms.

While some centralized exchanges allow trades involving SHIB and other cryptocurrencies, it is available through many decentralized exchanges such as Uniswap. Shiba Inu even has its own decentralized exchange, known as ShibaSwap. You can buy Shiba Inu on many of the popular cryptocurrency platforms, and it is also available on decentralized exchanges where you can trade SHIB for other cryptocurrencies.

How to Buy SHIB

The primary way to earn with Shiba Inu is to stake your coins. Many exchanges offer this service, allowing you to earn a fixed percentage of money for a specific period. To stake your Shiba Inu, you must have some of it in your wallet. When you’ve satisfied this requirement, search for the staking section on your preferred exchange and choose a time frame you are comfortable with, then stake your Shiba Inu tokens. Traders or investors can make money through price speculation.

Choose Metamask or any of the other supported wallets that you prefer. Notice that the form field next to the [Buy] button now shows that SHIBA INU has been selected. Bitcoin is preselected by default so search for Shiba Inu by typing out the name in the search box and selecting it. This action will load up the purchase wizard pop-up screen. Once you access your Coinbase account, click on the Trade tab on the left side of the screen and search for Shiba Inu using the search box.

Best Cryptocurrency Exchanges

The main difference between Dogecoin and Shiba Inu is that SHIB is built using the Ethereum blockchain, enabling it to support more complex financial transactions than DOGE. SHIB can also be acquired through a process known as staking (though this requires you to have some of this cryptocurrency, to begin with). And theoretically, you could receive Shiba Inu as payment for goods or services. Ryoshi is the alias used to identify the creator of this dog-themed cryptocurrency, invented in 2020.

Examples of such companies are NOWpayments, Gucci, and Nordstrom. We independently evaluate all recommended products and services. If you click on links we provide, we may receive compensation. Be sure you only invest money you don’t need for your essential expenses or any amount that would cause you stress. Some take a basic approach for new investors, while others are more complex, offering advanced trading features like margin accounts and futures trading. According to Daniel Polotsky, co-founder and chairman of CoinFlip, a leading Bitcoin and cryptocurrency ATM provider, Shiba Inu has growth potential.

How to buy Shiba Inu in New York and other crypto-unfriendly states

If you prefer to put in a custom amount, you can do so in the Amount field. There are several platforms where you can buy Shiba Inu, including Binance US, Robinhood, Gemini and Coinbase. The woofpaper also delves into why SHIB runs on Ethereum, explaining that it is a secure, well-established blockchain that lets SHIB remain independent of moderating forces. SHIB has lost a substantial portion of its value in recent months.

Vitalik Buterin, who at the time held half of the SHIB’s total supply, donated 10% and burnt the rest of the Shiba Inu tokens in his wallet. Interestingly, the woofpaper revealed that 50% of SHIB’s token supply was sent to Vitalik Buterin’s wallet (Buterin is Ethereum’s founder). Benzinga, however, believes Shiba’s team gifted Buterin the coins to make SHIB more scarce. As of Oct. 5, the “Dogecoin killer” is skyrocketing once again and many daredevil crypto investors are scrambling to get their hands on Shiba Inu. If you’re interested in buying the Dogecoin rival, stick around and we’ll show you the easiest, most efficient way to buy Shiba Inu.