How to Buy Shiba Inu Online in 2023
Shiba Inu (SHIB) is one of the most popular “meme coins” on the crypto market with and has been a source of tremendous gains for many investors. It has now evolved into its own ecosystem and is available for purchase on several platforms including eToro, Robinhood, and Eightcap.
What is the Shiba Inu coin? The Shiba Inu coin was launched in August 2020 as a meme coin with the vision of creating a decentralized ecosystem. The SHIB ecosystem consists of a decentralized exchange called ShibaSwap.
But how to buy a Shiba Inu coin? Is it worth buying the Shiba Inu coin (SHIB) now? If you would like to learn more about how to buy a Shiba Inu coin, then this guide is for you. We will show you the best and the easiest ways to buy Shiba Inu coins, and also some payment methods to use when it comes to buying Shiba Inu coins.
Read on to find out all there is to know.
Best Exchanges to Buy Shiba Inu Coin
There are many ways to buy Shiba Inu and so we have created a list of the top cryptocurrency platforms below to get you started in no time.
Crypto assets are highly volatile and largely unregulated. There is no guarantee that any crypto asset will have at any time in the future certain value (if any) or market liquidity. Crypto assets are at risk of losing substantial (or all) value within a short time period.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Overall Best Way to Buy Shiba Inu 2023
In this section, we have outlined the best platform overall when it comes to buying Shiba Inu coins.
eToro is the Best Way to Buy SHIB According to Our Review
Here’s a breakdown of our analysis.
|💰 Trade Values:||CFDs, Cryptocurrencies, Commodities, Forex, Indices,|
|📊Platforms:||Website, mobile app|
|🏆 Demo Account Available:||Yes|
|📺 Ease of use:||Very easy|
|⭐ Our rating:||4.9 / 5.0|
|📱 App Available:||iOS & Android|
|💰 Fees:||0% commission on stocks. 1% on crypto assets.|
|🔁 CFDs Available:||Yes|
|⚽ Social Trading:||Yes|
How We Compare
In the comparison table, we include crucial information such as trade values, fees, and ease of use so if you are new to cryptocurrencies, you know which platforms are the easiest to navigate and where to go to avoid hefty transfer fees. For your peace of mind while trading, we state whether or not each crypto is regulatory-approved and by which institutions.
We even add our own overall rating of each crypto coin.
There is a lot happening in the cryptocurrency market right now, with a variety of tokens created on different platforms and a mode of operation that is very unlike that of traditional financial institutions. Both novice and experienced investors can use our comparison tables to simplify the process of identifying the right cryptocurrencies for them.
As with any investment, the decision to enter the cryptocurrency market requires thorough research. You can rely on us to provide the most up-to-date and accurate information, as we only use credible and reputable sources for our content. This puts investors in the best position to make smart crypto decisions.
Best Platforms to Buy and Trade Shiba Inu
For those who are looking to trade the Shiba Inu coin, this section is worth reading before getting started.
Buy Shiba Inu Using Cryptocurrency Brokers - the Easiest Way
These platforms can be used to buy or trade SHIB and other cryptocurrencies.
|🥈Robinhood||0% (may vary by trade)|
eToro is a multi-asset brokerage platform that offers stocks, shares, cryptos, and more, including the Shiba Inu coin. There are various different features to take advantage of including social trading, charting tools, and demo accounts. If you're getting started, eToro is a very good platform for buying Shiba Inu as a beginner.
Read our eToro review to learn more about it.
Robinhood is an online discount brokerage and trading platform that offers services for various financial products including cryptocurrencies. Many of the top cryptos are supported including Bitcoin, Ethereum, and Shiba Inu.
Read our Robinhood review to learn what we found.
Eightcap is a global CFD and forex broker that also offers cryptocurrency services. A number of different cryptocurrencies are available for trading and investment including Bitcoin and Shiba Inu coin.
Use our Eightcap review to make a better decision.
Buy Shiba Inu on Etoro: a step-by-step guide
Step 1: Register for eToro Account
Step 2: Fund Your Account to Buy SHIB
Step 3: Find the Shiba Inu Markets
Step 4: Buy SHIB
Step 5: Additional Step: Send Shiba Inu to ERC-20 Wallet
What can I do with Shiba Inu coin?
Another critical thing to consider when researching how to buy a Shiba Inu coin 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. Store your newly purchased Shiba Inu (SHIB) in your preferred wallet. We created a complete guide on the best Shiba Inu wallets so you can get all the information you may need after purchasing a Shiba Inu coin and find where to store the crypto asset.
Can I use my Bitcoin wallet to store Shiba Inu?
No. A Bitcoin wallet cannot support SHIB tokens. You can use a Coinbase Wallet or Trust Wallet instead.
SHIB is an ERC-20 token that can only be stored in the wallets supporting ERC-20 tokens.
Buy Shiba Inu Using CFDs - Best for Trading
Contract for Differences or CFDs allows traders to speculate on the price of Shiba Inu coins without owning the underlying asset. They also enable leveraged trading which can increase profits through higher risk.
eToro is a brokerage platform that offers cryptocurrency CFD trading for various cryptocurrencies including Shiba Inu coin. Its user-friendly interface makes it a platform of choice for beginners.
Eightcap is an online brokerage platform that offers crypto CFD trading on a number of different cryptocurrencies including Shiba Inu coin, and other meme coins such as Dogecoin (SHIB vs DOGE).
Buy Shiba Inu CFD on eToro: step-by-step guide
Step 1: Register for eToro CFD Account
Step 2: Fund Your CFD Account
Step 3: Find the Shiba Inu Markets
Step 4: Buy SHIB CFD
Buy Shiba Inu Using Cryptocurrency Apps - Most Convenient
Many platforms now offer crypto apps that you can download on your smartphone to trade on the go.
|🥇 eToro App||1%|
|🥈 Robinhood App||0% (may vary by trade)|
|🥉 Binance App||0.1%|
Buy Shiba Inu on eToro App: a step-by-step guide
Step 1: Download the eToro App
Step 2: Register or Sign-in
Step 3: Find the Shiba Inu Markets
Step 4: Buy SHIB Through the App
Buy Shiba Inu With Exchanges - the Cheapest Way
Crypto exchanges are marketplaces that allow traders to trade cryptocurrencies. Additionally, crypto exchanges allow users to buy digital assets using fiat currencies or other cryptocurrencies. For example, you can buy a Shiba Inu coin by depositing money from your debit card or by exchanging your existing Bitcoin (BTC) holdings. Shiba Inu is available on many major crypto exchanges. You can check out some cryptocurrency exchange options below:
|🥈 Coinbase||0% - 0.40%|
Buy Shiba Inu on Binance: a step-by-step guide
Step 1: Register for Binance Account
Step 2: Fund Your Binance Account
Step 3: Convert You Fiat Currency to USDT
Step 4: Swap into Shiba Inu
Step 5: Confirm the swap on BSCScan
Buy Shiba Inu Using Decentralised Exchanges - the Non-traditional Way
Decentralized exchanges allow you to swap one cryptocurrency into another without needing to log in to multiple centralised crypto exchanges. You will require some Ethereum (ETH) to get started. This can be sent from an exchange to a wallet that you own.
|🥇 Uniswap||Depends on network congestion.|
|🥈 PancakeSwap||Depends on network congestion.|
|🥉 SushiSwap||Depends on network congestion.|
|#4 ShibaSwap||Depends on network congestion.|
Buy Shiba Inu on Uniswap: a step-by-step guide
Step 1: Navigate to Uniswap and Connect Wallet
Step 2: Choose Your Wallet, for Example MetaMask
Step 3: Find Shiba Inu Markets
Step 4: Exchange Ethereum into Shiba Inu
Step 5: Receive the Tokens
Step 6: Additional Step: Confirm the Transaction Using the Blockchain Explorer
Should You Buy Shiba Inu as CFD or Real Cryptocurrency?
Buying a CFD is a preferred method for beginners as it allows users to avoid the technical side of cryptocurrencies. This is because CFDs enable users to speculate on the price of a Shiba Inu coin or another coin price without owning the underlying asset. If you want to know more about CFDs, check our guide on Bitcoin CFDs.
For more advanced traders, crypto exchanges may be a more suitable choice to buy Shiba Inu coins.
How Does This Impact Tax?
You will be required to pay tax on the profits you make from buying Shiba Inu CFDs. Depending on the country of residence, the tax law may vary so please refer to the relevant authorities in your jurisdiction for the most up-to-date information.
Should I Use a CFD Or Buy Real Shiba Inu Tokens to Own?
Buying Shiba Inu with a CFD
Buying Real Shiba Inu
Best Ways to Buy Shiba Inu
You might want to consider the payment method you use to buy Shiba Inu coins. Different payment methods will have advantages over the others. Here are the most convenient ways to buy Shiba Inu coins.
Buy Shiba Inu Instantly With a Bank Transfer - Fastest Way to Buy SHIB
If your chosen platform offers bank transfer deposits, you can use this method to make quick and easy purchases.
The process will be familiar if you have done online banking before so simply follow the onscreen instructions to get started.
Buy Shiba Inu with PayPal - Safest Way to Buy SHIB
PayPal is a popular online payment platform to buy Shiba Inu coins. If you would like to know how to buy Shiba Inu with PayPal, don't worry, the process is very easy.
If you have an existing PayPal account, check to see if your brokerage/exchange offers this option in the payment section before buying the Shiba Inu coin.
Buy Shiba Inu Using a Debit Card - Cheapest Way to Buy SHIB
You can also use a debit card to buy Shiba Inu coins. Just deposit money in your brokerage account.
Just select it on the drop-down menu and enter your details.
Buy Shiba Inu Using a Credit Card
Credit cards are among the most accepted payment methods on trading platforms.
Simply follow the onscreen instructions to deposit money into the platform and make your first Shiba Inu coin purchase.
Best Way to Buy Shiba Inu in the UK and USA
Best Platforms to Buy Shiba Inu in the UK
|🥈 Robinhood||0% (may vary by trade)|
In the UK, eToro is the best platform overall for beginners and more advanced users alike. eToro comes with beginner-friendly features such as CopyTrade as well as advanced charting tools for professional traders.
Best Platforms to Buy Shiba Inu in the USA
|🥈 Robinhood||0% (may vary by trade)|
In the US, eToro is one of the top platforms to buy SHIB tokens. It is quick to get started with, very easy to use and understand, and is packed with features. If you’re looking for more advanced features, Binance might be a better choice.
What Are the Fees When Buying Shiba Inu?
Different platforms charge different fees for their services.
Here’s a breakdown of what that might look like with an example of a €1,000 position in the Shiba Inu coin.
|Total fees||1% + $5||0%||0.1%|
Cheapest Way to Buy SHIB
Here are the cheapest platforms that offer Shiba Inu markets.
|🥇 Robinhood||0% (may vary by trade)|
If you’re looking to buy SHIB with almost no fees, Robinhood is the best provider to use. However, if you’re looking for the best and simplest user experience with a slightly higher trading fee, we recommend using eToro.
Should You Buy or Sell Shiba Inu? Pros and Cons
Before making an investment, it is worth looking at the pros and cons of the coin you are looking to purchase.
Here are some points to consider when it comes to buying or selling Shiba Inu coins.
Top Tips and Recommendations to Buy Shiba Inu Today
There are multiple ways to buy Shiba Inu coins and so it’s important to know which platform is best for your needs. Here are some things to consider:
Choosing between a Shiba Inu broker and a CFD:
For Beginners: If you’re a beginner and want to buy a Shiba Inu coin, then eToro may be the platform for you due to its user-friendly features and intuitive design.
For Advanced: If you’re more advanced and looking to trade Shiba Inu and need advanced charting and other trading tools, then a cryptocurrency exchange such as Binance or KuCoin may be preferred.
Cryptocurrencies are Highly Volatile and the Shiba Inu Coin is no Different: Ensure you do your own research and only invest with money you can afford to lose.
Shiba Inu Has an Incredibly Large Supply: This means that you can buy many SHIB coins for very little money. It’s worth looking at the exchange rate to get a better understanding of what you are buying.
Do You Need to Pay Tax on Profits From Shiba Inu?
Yes, you do need to pay tax on profits from Shiba Inu coin. Cryptocurrencies such as Shiba Inu may be liable for taxes so ensure that you contact the relevant authorities in your jurisdiction to get the latest information.
Shiba Inu Price Prediction: What is the Future of SHIB?
Along with the wider market, SHIB has fallen considerably from its recent highs.
It now seems to be heading to the 0.00001650 level on the SHIB/USDT chart. If it is unable to hold this level, then the next likely level is at 0.00000750.
If the price of the Shiba Inu coin can consolidate at these levels, then it may soon start trending upwards again.
What Impacts the Price of Shiba Inu?
The price of the Shiba Inu coin is impacted by a number of factors.
Firstly, many coins on the market including SHIB are correlated with Bitcoin. As such when Bitcoin goes up, many altcoins follow suit and vice versa. Before trading SHIB, it’s important to have a look at the Bitcoin charts as well.
Secondly, if there is an important update regarding the project, then volatile prices may reflect the level of interest in said news.
It’s useful to follow official social media channels to keep up to date with the latest information.
Here are the official Shiba Inu pages on Twitter and Reddit.
Historical Shiba Inu Course: Important Milestones in the History of Shiba Inu
The chart below has outlined important events in the historical price action of SHIB.
Should You Hold Shiba Inu for the Long Term or Trade for the Short Term?
Whether you want to hold a Shiba Inu coin for the long term or short term is your personal preference.
If you’re interested in the Shiba Inu project and would like to be an early adopter, you might want to HODL if you believe there is a future. On the other hand, if you’re after making profits from trading, it might be best to stick to short-term holding and benefit from the price swings.
Regardless of your strategy, it is important to have a strategy in mind before investing, that way you can be better prepared in case something happens.
When is the Best Time to Buy Shiba Inu? Should I Buy It Now?
Shiba Inu is in a downtrend at the time of writing.
This means that it may continue to fall unless something drastic happens in the markets.
It may be worth building a position gradually, that way you can capitalize on potential price drops.
Other Ways to Buy Shiba Inu in 2023
The above sections have listed all the ways it is possible to buy a Shiba Inu coin.
To recap, these include:
Best SHIB brokers - eToro
Top Shiba Inu exchanges - Binance
Decentralized exchanges - UniSwap
The most convenient way for beginners to get started is through eToro.
Step 1: Buy Shiba Inu Shares & Stocks
Step 2: Can You Buy Shiba Inu Offline?
Step 3: Can you Mine Shiba Inu?
Step 4: Use a Shiba Inu Faucet
Step 5: Stake Shiba Inu
Step 6: Shiba Inu DEX - ShibaSwap
Step 7: Can I Receive Shiba Inu as a tip or a gift (same as with Dogecoin)?
Step 8: Can I spend Shiba Inu?
How to Buy Shiba Inu Anonymously?
It is not possible to buy Shiba Inu anonymously as your ID is required during the signing process.
How to Buy Shiba Inu Without Registration?
Registration is a requirement before purchasing a Shiba Inu coin. There are a few DEXs that would allow you to buy SHIB without registration, however, you could still be identified via your wallet address.
How to Buy Shiba Inu Without Verification?
Same here, your ID is needed during the registration process. However, even though you don't need to register on many decentralized exchanges, you still need to connect your wallet which can be easily traced and identified.
How to Sell Shiba Inu in 2023? A step-by-step guide using eToro.
When you are ready to close your position in Shiba Inu, these are the steps to follow:
Step 1: Click on portfolio in the top right corner and here you will see all your open positions
Step 2: Scroll down to find your position in Shiba Inu.
Step 3: Click on the small cross and confirm that you want to close your trade
Step 4: Once completed, the fiat currency you used to purchase such as USD or GBP will be returned to your account balance along with any profits you may have earned.
Key Information About the Shiba Inu?
Shiba Inu coin is one of the top "memecoins", and is currently very popular amongst investors.
|Coin name||Shiba Inu|
|Type of the coin||Meme Token|
Is Shiba Inu a Risky or Safe Investment
Any investment carries risk and the Shiba Inu coin is no different. Cryptocurrencies are volatile assets and SHIB is prone to wide price fluctuations in both directions.
Since the Shiba Inu coin is a meme token, it has limited utility compared to other cryptocurrencies, and it's important to know these facts before investing.
What Are the Shiba Inu Coin Alternatives?
Shiba Inu coin is not the only meme coin on the market, here are some others to keep in mind.
Is It Still Worth Investing in Shiba Inu or Not? Reasons to Buy SHIB in 2023
Shiba Inu coin is one of the most popular cryptocurrency meme tokens on the market. It started out as a clone of Dogecoin but has now grown to become an ecosystem of different platforms.
Before considering buying the Shiba Inu coin, it must be known that the SHIB token has fallen considerably from its peak in 2021 along with the wider global markets. It has remained in a downtrend ever since and now seems to be consolidating just above a support level.
With a current market capitalization of around $11 billion, it will take substantial amounts of money to push SHIB back up to the highs.
However, cryptocurrencies are unpredictable and no one knows exactly what will happen. So before considering buying the Shiba Inu coin, you should keep informed and read the most recent news and market trends.
As always, do your own research and only invest with money you can afford to lose.