How To Buy Shiba Inu Coin in 2024 & Best Exchanges

Do you want to know how to buy Shiba Inu, a famous meme coin?

Discover a reputable cryptocurrency exchange that offers Shiba Inu. Open an account and register, then verify your identity to pass Know Your Customer (KYC) and explore all the exchange’s features.

Still, remain mindful of the potential risks associated with buying cryptocurrencies through these platforms.
Check out the steps below:

• Step 1 – Open an account on a reliable cryptocurrency exchange
• Step 2 – Verify your identity via KYC
• Step 3 – Select your preferred payment option
• Step 4 – Start the Shiba Inu trade or use the Instant Buy tool
• Step 5 – Confirm your purchase amount

Key Takeaways

• Shiba Inu, a famous meme coin, launched in 2020
• The best way to invest is with a reliable crypto exchange
• Other ways include crypto ATMs and decentralized exchanges

Introduction to Shiba Inu – What is SHIB?

Shiba Inu, better known by its ticker symbol SHIB, was launched in August 2020 by an anonymous entity called Ryoshi.

Shiba Inu is an ERC-20 token that runs on the Ethereum blockchain. 

Ryoshi created this coin to experiment with the outcomes of community-driven cryptocurrency projects. 

As a result, SHIB attained global traction and surfaced as a popular payment method, whether directly or via third-party intermediaries.

Besides, Shiba Inu earned the moniker “meme coin,” often referenced as an inside joke.

Its surge in popularity caused people to call it a “Dogecoin killer” and consider it an alternative to its meme token counterpart, DOGE.

A document termed the “woof paper,” available on the ShibaToken.com website, outlines the essential concepts of the Shiba Inu ecosystem.

This name is perhaps a lighthearted reference to the conventional “white paper.”

According to the document, Ryoshi chose to build Shiba on Ethereum because of its features and security, which guaranteed the project’s decentralization.

Within the Ethereum blockchain system, Shiba Inu performs several services and uses smart contracts to facilitate transactions. 

ShibaSwap, a decentralized exchange within the Shiba Inu ecosystem, allows token swaps, liquidity provision, and reward staking.

The ecosystem has also included Shibarium, a Layer-2 solution that increases efficiency and scalability.

So far, the Shiba Inu project has surpassed 3 million investors globally. Shiba’s official X account also has millions of followers ready to explore the latest news.

SHIB is supported on over 100 crypto exchanges and investment platforms globally. Here’s how to buy it today.

How To Buy Shiba Inu Coin – Step-by-Step Guide

Let’s dive deeper into the process and go through each step in detail.

1. Open an Account on a Reliable Cryptocurrency Exchange

Create an account on one of the best crypto exchanges with a strong reputation, strict security protocols, and an easy-to-use interface.

Exchanges that have been on the market for several years have established their reputation among investors, so look for some of the oldest crypto exchanges out there.

Strict security, like Secure Sockets Layer (the padlock next to the web address), enforced two-factor authentication (2FA), and legal compliance are a must-have.

Additionally, your selected exchange should be easy to use with a simple interface you can manage around.

Remember, it is essential to select a platform that meets your needs. Therefore, you have to do some research and compare exchanges.

Read our Kraken, Coinbase, and Binance reviews to explore features among different platforms.

Join different social media groups that focus on cryptocurrency investing. Find those groups on Telegram, Facebook, or Instagram, and well-known crypto communities on Reddit.

You can also start your search by taking a look at our recommended list of sites.

Once you’ve chosen your preferred crypto platform, sign up by following the exchange’s guidelines since each of them has a unique protocol for creating an account.

2. Verify Your Identity via KYC

Up next is finalizing the Know Your Customer (KYC) procedure, an important process mandated by the Anti-Money Laundering (AML) policies implemented worldwide.

AML regulations order exchanges to perform KYC so governments and financial institutions can easily investigate potential criminal activity related to crypto transfers.

Every user of a crypto exchange needs to pass the same process, which guarantees a safe crypto exchange.

Provide a government-issued ID (such as a passport or a driver’s license), proof of address (such as utility bills or bank records), and a selfie or a video verification to validate your identity.

The exchange will check your documents and compare them to the information you provided when making an account.

It might take from several minutes to a few days, but you can rest assured that you are secure from fraudulent activities.

Plus, passing the Know Your Customer procedure lifts all deposit and withdrawal limitations and gives you access to all the features.

3. Select Your Preferred Payment Option

After confirming your identity through the KYC process, you can now select your preferred payment method to purchase a Shiba Inu coin.

Cryptocurrency exchanges offer a wide range of payment options, such as:

• Bank wire transfers
• Credit cards
• Debit cards
• PayPal
• Apple Pay
• Google Pay

These guarantee accessibility and ease of use throughout the transaction process.

To fund your account, choose a payment method that you’re most comfortable with.

Take note of fees, processing periods, and security measures related to each method that the crypto platform offers.

Keep in mind that exchanges have different procedures for connecting a payment method. In some cases, you might have to submit documentation again, to prove your identity to a payment processor.

4. Start the Shiba Inu Trade

You’ve come to the vital stage where you exchange your fiat money for SHIB!

First, you need to find the trading section or the “Instant Buy” feature on the platform of your choice.

The trading section will have trading pairs like SHIB/BTC, SHIB/ETH, and a trading chart where you can track prices and orders.

Here, you can set your orders (market, stop, limit) and get SHIB at a desired price.

Most exchanges and wallets also offer an instant buy option. This feature lets you buy SHIB at its current market price and you don’t have to wait for an order to fill.

All you have to do is select SHIB from the list of available digital assets and use a connected payment method to pay.

This process is usually instant.

Before proceeding to the next step, thoroughly examine the current market state, especially the price of Shiba Inu and any of its trading pairs.

Consider setting up price alerts or monitoring real-time market information to make well-informed decisions and maximize your strategy.

5. Verify Your Purchase Amount

After starting a trade for Shiba Inu and choosing the amount you would like to purchase, follow further steps.

Check your info and numbers to ensure accuracy.

When it comes to crypto, any inconsistency could affect the result of your transaction.

For example, accidentally sending Shiba Inu to a Bitcoin address will result in lost SHIB tokens. This is why it’s crucial to pay attention to every number you enter.

Before finalizing your transaction, review the exchange’s terms and conditions and any applicable rules or disclaimers.

You may see a minimum or maximum amount you can purchase.

If you agree with how your order looks, you can follow the steps to finalize the purchase.

Then, the crypto platform will do its thing and trade your money for SHIB, be it a trading order or an instant buy.

After the transaction is complete, you may access and manage the tokens in your exchange wallet. This will enable you to either hold onto them and wait for the price increase, trade, or withdraw.

Best Exchanges for Shiba Inu – Recommended Sites

Explore these top cryptocurrency exchanges for Shiba Inu purchases and consider each one’s benefits, drawbacks, and reputation to make the best choice.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Disclaimer: The information provided on this website is for informational purposes only and should not be considered as financial, investment, or legal advice. Cryptocurrency investments are volatile and high-risk in nature. Consult with a qualified financial advisor and/or tax professional before making any investment decisions. We are not responsible for any loss incurred due to the use of information on this website. Do your own research and exercise caution. Don’t invest unless you’re prepared to lose all the money you invest.

Pay Attention to This Before Registering on an Exchange

Before creating an account on a cryptocurrency exchange, consider the following:

• License: Verify the exchange’s license and make sure it is still in effect. This indicates it is operating legally and in compliance with the law
• Wallet safety: Evaluate the security protocols implemented by the exchange to protect users’ funds. Look for features like encryption techniques or cold storage
• Commission and fees: Excessive fees have a substantial effect on your trades and holdings. Choose an exchange with reasonable charges that are in line with your investing expectations
• Reputation: Look for user opinions, ratings, and comments. A good reputation means dependability, credibility, and happy customers, whereas a bad reputation could point to hidden problems

Exchanges like KuCoin and Uphold are great examples of security and established reputation.

Regardless of the safety of the exchange, you’ll want to move your funds to a personal wallet for added safety.

Read our Ledger and Trust Wallet reviews to discover secure crypto wallets.

Other Ways You Can Buy Shiba Inu

Do not worry if cryptocurrency exchanges are not your thing!

There are still other ways to buy crypto like Shiba Inu without using an exchange. Some of these methods include:

• P2P platforms
• Bitcoin ATMs
• PayPal

P2P Platforms and Decentralized Exchanges

Peer-to-peer (P2P) trading platforms and decentralized exchanges (DEXs), enable direct communication between users. These give users the ability to engage in cost negotiations and payment options.

By doing business this way, buyers and sellers can interact directly without the need for middlemen.

Users establish offers to buy Shiba Inu in this decentralized framework and determine the terms and conditions.

When parties discover a match, they communicate directly, increasing transparency and speeding up the processing of requests.

P2P services are in high demand, and several platforms have responded by offering customers safe and effective spaces to trade SHIB.

P2P platforms utilize escrow services, while DEXs use smart contracts to manage transactions.

Bitcoin ATMs

Bitcoin ATMs are self-serve physical kiosks that allow users to purchase and sell crypto.

You can find these in popular outdoor areas like malls.

To use a Bitcoin ATM, insert a credit or debit card and exchange your fiat currency for BTC at the ATM.

Then, transfer the Bitcoin you purchased into your wallet and exchange it for Shiba Inu.

If the ATM happens to support Shiba Inu, then you can purchase SHIB with fiat and get it to your Shiba Inu wallet address.

PayPal

You can use your PayPal balance, a bank account, or a debit card connected to PayPal to purchase crypto and then withdraw it and exchange it for SHIB.

If you are using the website, go to “Finances” and press “Purchase”.

Then, click “BTC” and select a frequency and amount (daily, weekly, biweekly, or monthly).

One-time will be the default frequency. After that, select your preferred payment option, hit “Next”, and press “Purchase Now.”

To buy Bitcoin via the app, click “Finances.” Then, press “Buy.”

Select a frequency and amount (daily, weekly, biweekly, or monthly).

One-time will be the default frequency.

Next, choose a start date and press “Confirm”. Verify your chosen amount and click “Next”.

Then, select your payment option and hit “Next”.

Lastly, select “Authorize” and “Schedule.”

Remember, this will get you Bitcoin, so you’ll have to move it to an exchange and swap it for Shiba Inu.

The easiest way to do this is to find a BTC/SHIB trading pair or use a wallet like Crypto.com where you can easily swap one crypto for another.

Why Trust Us?

Our approach is straightforward: we actively employ research to keep up with SHIB’s landscape.

When we talk about buying or selling SHIB, we’re not just talking; we’ve really completed deals and acquired helpful expertise.

Our unwavering conviction backs every recommendation we make, and we only endorse strategies and platforms that meet our standards.

Since ethics and openness motivate us, you can rely on us to provide you with unbiased advice.

At Cryptomaniak, our goal is to provide you with the knowledge and confidence you need to buy Shiba Inu coins and make informed decisions.

Frequently Asked Questions

1. 01.

   Can I Buy Shiba Inu Coin With Other Cryptocurrencies?

   

   Of course! The cryptocurrency community is accustomed to purchasing Shiba Inu coins with other cryptocurrencies. Many exchanges support Shiba Inu trading pairs. Use the exchange to deposit your preferred cryptocurrency—such as Bitcoin or Ethereum—and use it to purchase SHIB.

2. 02.

   Are There Any Restrictions or Requirements for Buying Shiba Inu Coins?

   

   Yes! Keep in mind these limitations and prerequisites before purchasing Shiba Inu. For any cryptocurrency to be legally purchased, you must be at least 18 years old. For precise trading requirements, consult your country’s regulations. Seeking advice from a financial expert or attorney is a good move. Exchanges may also have eligibility requirements, such as KYC procedures.

3. 03.

   What Are Some Potential Risks of Investing in Shiba Inu Coin?

   

   One crucial issue that could cause losses if not constantly watched is market volatility. Regulatory changes may also impact its SHIB price movement. When investing in cryptocurrencies, do your homework and be on the lookout for any scams or fraudulent activity.

4. 04.

   What Documents Do I Need to Buy Shiba Inu Coins?

   

   You’ll need a legitimate identity document from the government, such as a passport or driver’s license. This is required to confirm your identification and guarantee that Anti-Money Laundering laws are being followed. You may also be asked to present proof of address, such as a utility bill or bank statement. For additional verification, many sites could ask for your tax identification number or social security number.

5. 05.

   Is It Safe to Invest in Shiba Inu Coin?

   

   It is important to proceed with caution even though Shiba Inu coin has grown in popularity and is seen as a relatively safe option in the cryptocurrency market. The stability of SHIB can be attributed to its strong community and solid security protocols. Like with any investment, careful planning, keeping up with market developments, and portfolio diversification are crucial to reducing risks.