Shiba Inu is a well-known memecoin that, despite being low in value, has amassed a lot of popularity in recent years. So, if you’re interested in buying your holding of the Shiba Inu cryptocurrency, what options do you have?
How to Buy Shiba Inu
The easiest way to buy Shiba Inu is on a crypto exchange. Crypto exchanges allow users to trade cryptocurrency (usually for a small fee), check asset prices, stake funds, and more. Some exchanges are fairly basic, while others include a whole financial ecosystem, such as Binance.
To buy Shiba Inu on a typical crypto exchange, you’ll need to set up an account, provide your name and contact details, and verify your identity. Some exchanges will also ask about your profession and how much crypto you want to trade.
Many reputable exchanges offer Shiba Inu purchases, including:
- Binance
- Coinbase
- Kraken
- KuCoin
- UniSwap
- Bitfinex
- Crypto.com
- Bybit
- OKX
- Gate.io
- Gemini
- PancakeSwap
Some of the above exchanges are centralized, and others are decentralized. The cryptocurrency exchange fees you incur when buying SHIB will also vary depending on the exchange you decide to use.
Let’s look at how to buy Shiba Inu on Binance, a hugely popular exchange, to see how the purchase process generally works.
To use Binance and most other exchanges, you must set up an account and verify your identity. Binance’s verification process can take some time, but once you’ve done this, you can buy some Shiba Inu.
The process of buying Shiba Inu on Binance is super simple, as is the case with many other popular exchanges. You can buy Shiba Inu on Binance via bank deposit, payment card, or your account’s cash balance. In this example, Shiba Inu will be bought using a credit/debit card.
- Hover over the Buy Crypto option on the left-hand side of the options bar at the top of the page. Select the Credit/Debit Card option, and you’ll be taken to another webpage.
- Here, you can select how much of a given crypto you’d like to buy. Select the BTC logo in the Receive box, and scroll to or search for Shiba Inu (SHIB). Now, you can type in how much SHIB you’d like to buy and the price range you’d like to stay within.
- You can use either Visa or MasterCard if you want to pay with your debit or credit card on Binance. Of course, you’ll need to provide the exchange with your payment details before purchase.
To meet Binance’s minimum spend of $15, you’ll need to buy a large stock of Shiba Inu, as each SHIB token is worth just a tiny fraction of a dollar. At the time of writing, Shiba Inu has a price of $0.00001029, according to CoinMarketCap. But different platforms may vary in their listed price, so watch out for this.
Other Shiba Inu Purchase Methods
If you don’t want to use a crypto exchange to buy Shiba Inu, there are other avenues you can try, including peer-to-peer (P2P) marketplaces and crypto swap platforms.
As the name suggests, crypto swapping involves swapping one crypto for another. Some platforms are entirely dedicated to crypto swaps, while others offer it as a feature alongside their main service. SwapSpace and Swapzone are two examples of popular crypto swap platforms, though many exchanges also offer a crypto swap feature, such as Coinbase and Crypto.com.
P2P marketplaces, on the other hand, involve the direct purchase and sale of cryptocurrency between individuals. These platforms often work by letting you search for an asset within a certain price range, region, or currency type. In such a scenario, you can buy cryptocurrency directly from another trader or sell crypto to a sole buyer.
While there are independent P2P marketplaces out there, there are also P2P marketplaces run by exchanges, such as Binance and KuCoin.
Buying Shiba Inu Couldn’t Be Easier
Shiba Inu may have a very low price but has a huge following in the crypto realm. If you want to buy Shiba Inu, the process is super simple using legitimate exchanges, and there are also alternative methods that you can consider here if you’d like to try something different.
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