Shiba Inu has become one of the most hyped cryptocurrencies of this year. Many members of the crypto community consider this coin to be an effective investment tool. We analyzed the market to find out where you can buy Shiba Inu profitably, so let’s talk about the most interesting options.
About Shiba Inu
The new ERC-20 token — Shiba Inu — launched on the Ethereum blockchain in August 2020. The creator of this token hides his real name under the nickname Ryoshi. Their main goal was to move away from rigid social structures. Ryoshi created an official document, the passport of the cryptocurrency called “Woof paper,” which consists of 28 pages.
The Shiba Inu’s developers called the project “Meme Coin” because they consider this coin as an alternative to the already well-known Dogecoin, Elon Musk’s favorite crypto, which has gained immense popularity on the Internet. The creators of the Shiba Inu coin took the Doge project symbol — a dog of the Shiba Inu breed — as a basis and released their own version of the meme crypto. Hence, the unspoken name of the SHIB token — “Dogecoin Killer,” whose task is to overtake DOGE in market capitalization.
How Can I Buy the Shiba Inu Coin?
The Shiba Inu cryptocurrency has been considered a promising investment for a long time. Traders and investors replenish their SHIB wallets, hoping that the value will grow in the future and bring them profit. The Shiba Inu token (SHIB) is available for purchase on most cryptocurrency exchanges.
Where to Buy the Shiba Inu Coin
In just a few weeks of existence, SHIBA INU has grown by 27,000%. Therefore, despite the humorous nature of the project, even the largest exchanges have already listed the coin.
As a rule, centralized cryptocurrency exchanges offer their users high trading volumes and liquidity. In comparison with other options, they are highly secure and usually have low fees. Moreover, thanks to the user-friendly interfaces of centralized exchanges, any crypto purchase becomes a piece of cake.
Coinbase Pro is one of the largest centralized cryptocurrency exchanges that makes it simple to buy, sell, and trade major digital assets.
For more advanced traders, the platform offers a variety of order types and enhanced functionality. Although Coinbase Pro doesn’t guarantee the most affordable pricing or the lowest fees, its interface is rather user-friendly for novice traders.
Binance is one of the most popular digital asset exchanges. For a long period of time, the site has been ranked first among trading platforms in terms of the total volume of transactions.
To start buying on Binance, you will need to complete registration and verification procedures. After confirming your identity, you can buy Shiba Inu by paying with the US dollar or other currency in a convenient way.
If you are looking for a safe and reliable place for crypto trading for both newcomers and advanced traders, Changelly PRO is considered to be the best option. A user-friendly interface can help beginners get acquainted with the crypto trading process. For professional traders, our platform offers a variety of trading tools, which can be useful in getting higher profits.
In general, the interface of decentralized exchanges is less user-friendly in comparison with decentralized ones. However, decentralized platforms can offer users more anonymity and higher transaction speed.
Sushiswap is a decentralized exchange that allows users to trade digital assets based on the Ethereum blockchain. Sushiswap was created on the basis of another well-known platform — Uniswap. This project is popular in the crypto community.
The fact that the platform doesn’t require user identification (the KYC procedure) to unlock its capabilities is one of the exchange’s main perks. It is enough for a user to link a wallet to the platform and then transfer tokens and ether to pay commissions for trading.
Since decentralized exchanges support most Ethereum-based assets, they are an ideal tool for trading coins like Shiba Inu. Uniswap is a decentralized cryptocurrency exchange, which is powered by the Ethereum blockchain. Here you can buy coins using your Ethereum wallet; however, it requires Ethereum to be exchanged for SHIB.
1inch exchange is a DeFi aggregator and decentralized exchange. The project developers promise low commissions and high speed of transaction processing. The 1inch exchange is built on several decentralized applications (dApps) combined into a single ecosystem.
The applications run on the Ethereum blockchain, which allows the use of smart contracts and ERC-20 tokens. At the same time, the 1inch protocols support a multi-chain architecture: they work with the Binance Smart Chain (BSC) blockchain and the autonomous Polygon Network sidechain.
Being a decentralized exchange based on the Ethereum blockchain, IDEX has Ethereum-featuring pairs and ERC-20 tokens among the listed assets. IDEX uses smart contracts that allow users to manage their private keys and trade in a secure peer-to-peer network environment. It also includes integration with Ledger Nano S and Meta Mask Wallet.
Bisq is a decentralized open-source exchange where even newcomers can buy Shiba Inu coins and other cryptos quickly. Moreover, the platform doesn’t require completing the KYC procedure. You just need to download the Bisq file (available for macOS, Windows, and Linux) to your computer from the official website or GitHub, verify it (more precise instructions can be found on the official site), and eventually install the file.
How to Buy SHIB on Mobile Devices
The process of purchasing Shiba Inu on mobile devices is quite similar to buying SHIB via a centralized exchange. All you need to do is download an application, register an account, and complete the KYC procedure.
The Crypto.com project aims to make cryptocurrency a part of people’s everyday life. The platform offers users a full suite of services. What really makes them unique is the conjunction of extremely low fees and generous rewards programs.
If you are one of the traders who would like to benefit from these features, you will be glad to know that Crypto.com also offers a mobile app. You can download it using both App Store and Google Play.
Pros & Cons
The main advantages of the Crypto.com app are high security, low fees, and an extensive reward program. However, like any service, it has some downsides as well: low privacy (that can be of vital importance for some users) and, as users note, unimproved time of Customer Service response.
Binance is the largest crypto exchange offering the most extensive list of trading pairs. Operating all over the world, Binance is a convenient option for purchasing cryptocurrencies with fiat money and a quick withdrawal of income to the card.
The official Binance app was released in September 2017 and is available for free download on Google Play for Android devices and App Store for iOS.
Pros & Cons
The Binance app has a simple and user-friendly interface and intuitive navigation. Last but not least, it is packed with the same features as the desktop version of the Binance exchange.
It’s worth mentioning such advantages of the Binance app as lower fees (in comparison with other commonly used exchanges), more advanced charting, and a great variety of digital assets available for trading.
Talking about the disadvantages of the project, we can underline the fact that there are fewer trading pairs available on the platform for US residents than for international ones.
In 2020, Changelly launched its own crypto trading platform Changelly PRO. The cryptocurrency exchange opens up a new world of opportunities for cryptocurrency trading.
Changelly PRO is a cryptocurrency exchange and a launching pad for users who want to improve their skills as investors or traders. Our platform allows making a safe and simple cryptocurrency purchase online from anywhere in the world.
Pros & Cons
The Changelly and Changelly PRO teams offer a variety of perks to the users, including easy registration, a clear and user-friendly interface with a step-by-step mode, a fast exchange process in automatic mode, the best rates, and customer support 24/7.
The Changelly app is a powerful crypto tool that will simplify the exchange of cryptocurrencies on your smartphone.
Trade like a PRO on iOS devices
Trade like a PRO on Android devices
Where to Store the Shiba Inu Coin
The Shiba Inu project was launched on the Ethereum blockchain, and, accordingly, SHIB is an ERC-20 standard token. The storage of ERC-20 tokens is supported by almost all the existing wallets. However, for safe storage, we recommend using a hardware wallet.
The main feature of a hardware wallet is that it stores coins without connection to the Internet network, thus ensuring maximum inaccessibility to hackers. Additionally, the wallet is protected by a PIN code, and there is an easy option to restore access to assets with a seed phrase.
How to Buy the Shiba Inu Coin in Different Locations
How to Buy the Shiba Inu Coin in New York
When it comes to SHIB purchases in New York, it is worth mentioning that state residents are often restricted from purchasing crypto because New York is considered to be one of the most heavily crypto-regulated regions in the world. In addition, specific licenses are required if a crypto company wants to operate on the market.
How to Buy the Shiba Inu Coin in Canada
Since cryptocurrencies are not prohibited in Canada, all customers can buy, exchange, and sell crypto instantly. If you are looking for a safe and reliable place for the SHIB purchase in Canada, the best service that meets all your needs is a global cryptocurrency exchange Changelly.
How to Buy the Shiba Inu Coin in Australia
From a legal standpoint, all operations with Shiba Inu, as well as with other cryptocurrencies, are permitted in Australia. Moreover, the Australian government treats all cryptocurrencies as property, making them subject to taxation. There are several ways to buy SHIB in Australia, but the fastest and easiest is to use an instant cryptocurrency exchange Changelly. Our service allows you to buy the Shiba Inu coin in a few clicks with your credit or debit card.
How to Buy the Shiba Inu Coin in the UK
Like in many other countries, cryptocurrency is not prohibited and is recognized for tax purposes in accordance with applicable law in the UK. When it comes to a smooth and seamless purchase of the Shiba Inu crypto in the UK, our exchange platform is what you need. At Changelly, you can instantly buy SHIB with a great variety of national fiat currencies.
Disclaimer: Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.