Where to Buy Shiba Inu Coin – Beginner’s Guide

Shina Inu garnered remarkable popularity in 2021, fuelled by the remarkable attention garnered by Dogecoin. Entering the market in 2020 with a price of $0.000000001, the SHIB coin managed to raise its value by 8000% in a year and hit an all-time high in October 2021. 

The coin’s price has dropped significantly since the high of October 2021, and in mid-2023, is trading around $0.00001039. Though Shiba is considered a highly speculative asset, it has an army of followers who still believe the coin has a good potential for growth. This guide will discuss how to buy Shiba Inu coin in detail, exploring the coin’s features and value potential before highlighting how you can invest in Shiba Inu today – with low trading fees.

Where to Buy Shiba Inu

Given Shiba Inu’s success over the last six months as one of the best shitcoins, many of the world’s best crypto exchanges now offer the coin as a tradable asset. With that in mind, reviewed below are three of the most effective platforms for buying SHIB today:

1. Crypto.com – Popular Crypto Platform with Low Trading Fees

Another top platform that offers Shiba Inu is Crypto.com. Crypto.com is known for having one of the best crypto apps, offering over 250 coins to trade. The platform’s services are split between the web-based exchange and the trading app, ensuring there’s an option for all investors.

The exchange will appeal to experienced traders and utilizes a ‘maker/taker’ model, meaning that you’ll pay a 0.4% fee on either side of the trade. Notably, you can reduce this fee by 10% if you pay these fees in CRO – Crypto.com’s native token. On the other hand, the app allows instant crypto purchases using a credit or debit card, with transaction fees waived during the first 30 days of use.

After this, Crypto.com will charge a 2.99% fee on any crypto purchases made using a card – although users can still deposit FIAT currency for free using various methods. Aside from this, Crypto.com offers a selection of valuable features, with its crypto interest account allowing investors to earn up to 14.5% interest on specific coins.

2. Coinbase – Beginner-Friendly Platform to Buy Shiba Inu Coins

Coinbase is another option if you’re wondering where to buy Shiba Inu, as the platform offers a wide array of crypto assets to trade through the browser-based platform or the Coinbase App. Users can invest in a selection of the best meme coins (including SHIB) using a credit or debit card, removing the need to own crypto beforehand.

Coinbase’s fee structure can be pretty complex at first glance, as each trade will accrue a ‘Coinbase Fee’ plus the spread. The spread usually hovers around 0.5%, although the Coinbase Fee can vary wildly depending on trade volume and payment method. However, users who opt to use Coinbase Pro, Coinbase’s exchange platform, will pay a taker fee of 0.6% and a maker fee of 0.4%.

In terms of security, Coinbase stores the vast majority of customers’ holdings in cold storage, protecting them from cyberattacks. Furthermore, all USD cash balances on Coinbase are covered up to $250,000 through FDIC insurance. Finally, Coinbase also has numerous compelling features, including a beginner-friendly crypto staking service for supported coins.

Cryptoassets are a highly volatile unregulated investment product. 

3. Binance – Huge Cryptocurrency Exchange with Vast Asset Selection

The final place we’d recommend if you’re researching where to buy Shiba Inu crypto is Binance. Most people will have heard of Binance, as it is currently the world’s largest cryptocurrency exchange, according to CoinMarketCap. Binance is best known for its colossal asset selection, allowing investors to trade altcoins (including SHIB), crypto-to-crypto pairs, and a selection of the best DeFi coins.

Binance operates at the lower end of the spectrum in terms of fees as investors only need to pay a 0.1% fee when they open or close a trade. Interestingly, investors can reduce these trading fees by 25% if they are paid in Binance Coin (BNB) – Binance’s native token. The platform also allows investors to instantly purchase cryptos using a credit or debit card, although this can attract a fee of up to 5% per trade.

Binance also supports free FIAT deposits via ACH, although the funding can take a few days to arrive. Aside from its low fees, Binance is also popular with experienced traders due to the extensive tools and features on the Binance exchange platform. These include advanced price charts, technical indicators, and order book data.

Cryptoassets are a highly volatile unregulated investment product. 

What is Shiba Inu coin?

Before we dive into how to buy Shiba Inu coin, let’s take a detailed look at what the coin is and its various use cases. Investors who opted to buy Dogecoin in 2021 will likely have heard of Shiba Inu, as the coin was launched in August 2020 in an attempt to capitalize on the mass appeal that Dogecoin generated. The coin’s founder, Ryoshi, remains anonymous to this day and has opted never to own any SHIB tokens.

According to Shiba Inu’s whitepaper (titled the ‘Woofpaper), the coin is entirely decentralized and aims to be the ‘Dogecoin killer’. However, what sets Shiba Inu apart from Dogecoin is that the former is hosted on the Ethereum blockchain. Ultimately, this allows Shiba Inu to leverage the power of smart contracts – giving Shiba Inu many more use cases than DOGE.

However, up until now, SHIB has mainly been used as a payment method, similar to many other cryptocurrencies. According to cryptwerk.com, Shiba Inu coin is now accepted by over 640 merchants worldwide in industries such as tourism, gambling, gaming, and more. Although this isn’t anywhere near Bitcoin’s dominance, it does highlight the niche that SHIB has carved out.

Is Shiba Inu coin a Good Investment?

Given the incredible price rise that Shiba Inu saw in 2021 (and its subsequent downfall), you may be wondering whether SHIB remains a good investment opportunity. Considering that, detailed below are five reasons why you may still wish to invest in Shiba Inu this year:

Huge Community Backing

The first thing you’ll notice when researching how to buy Shiba Inu crypto is the excellent community backing that this coin benefits from. This backing is clearly evidenced by the Shiba Inu subreddit, dubbed the SHIBArmy, containing nearly 500,000 members. In addition, Shiba Inu is still discussed regularly on Twitter and crypto forums, which isn’t the case for many other altcoins. 

Smart Contract Capabilities

Investors who buy Ethereum regularly will understand the smart contract capabilities that the network has. Since Shiba Inu is hosted on the Ethereum blockchain, the coin can leverage these capabilities to bolster its use cases. Ultimately, this helps to ‘futureproof’ the currency, which is challenging to do for cryptocurrencies without smart contract integration.

Additional Use Cases

Following on from the smart contract information presented above, Shiba Inu has also developed other use cases aside from being used solely as a digital currency. One of the most compelling use cases is ShibaSwap, the decentralized exchange (DEX) focusing on dog-related meme coins. This allows users to provide liquidity and generate BONE, the token used to govern the DAO.

Massive Upside Potential

It goes without saying that Shiba Inu still has tremendous upside potential, given the coin’s relatively small market cap. As noted by CoinGecko, Shiba Inu’s market cap is over $6 billion, with a current price of only $0.0000109. Due to these factors, relatively minor price increases will result in huge returns for investors, which was evidenced in October 2021. 

Besides, Shiba Inu made headlines after launching its Shiberse in 2023. It means that the Shiba coin will become a Metaverse coin used for playing games, buying virtual estate, etc. This increases the use cases of the token, which can affect its demand and hence lead to a price rise. 

Integration into the Metaverse

Finally, following the path set by many new NFT projects, Shiba Inu’s creators have decided to delve into the metaverse. The creators announced the concept of the ‘ShibVerse’, which would be Shiba Inu’s version of a virtual world. Although details on this project are still scarce, there are rumours it could include virtual land and in-world items structured as NFTs.

Shiba Inu coin Price

The next section of this guide on buying Shiba Inu coins will focus on the coin’s price and value prospects for the weeks and months ahead. As you can see from the price chart below, the SHIB price rallied to an all-time high of $0.000088 in October 2021. This rally represented an increase of over 1190% in just under a month.

Shiba Inu All-time Price Performance, Source: coinmarketcap.com

However, this high was short-lived, and the price fell dramatically in the following months. Shiba Inu suffered hugely from the crypto market crash that was followed by a deep decline in the market named “crypto winter”. By the end of 2022, Shib’s value dropped to $0.000008, which was still thousands of times higher compared to its initial price.

Right now, in mid-2023, the Shiba Inu is traded at $0.00001019 with a 24-hour price range of $0.00001015-$0.00001037. The coin has slightly recovered after the drastic drop in 2022 and has a 25% YTD return rate. 

Shiba Inu coin Price Prediction

But is it too late to buy Shiba Inu coin? Given Shiba Inu’s recent fall from grace, what can we expect from the coin in the future? Many market commentators believe that Shiba Inu can still be considered one of the most undervalued cryptos due to its tremendous community backing and numerous use cases. The upcoming dive into the metaverse and NFT space could provide the impetus for an upward push.

We have examined the different AI-based price predicting platforms to find Shiba Inu price projections. The only negative prediction is made by Wallet Investor, which indicates that Shiba Inu will continue dropping and will lose 89% of its current value. According to this platform, SHIB will decrease to $0.000001 in one year. 

Other platforms, such as Price Prediction, are optimistic about the coin, predicting that its price will slowly rise in the next few years. Price Prediction shows that SHIB will have an average price of $0.000014 in 2023, possibly increasing to $0.0000158. According to it, SHIB’s value will increase by only 2.4x by 2030, when it will have an average price of $0.00019. 

Almost the same results are predicted by Digital Coin Price, which indicates SHIB can have an average value of $0.0000211 in 2023 while its highest price can be $0.0000228. The predictions by this platform show that by 2030, SHIB’s value can reach $0.0001. 

Ways of Buying Shiba Inu coin

The next step in the process of how to buy Shiba Inu coin is deciding how to facilitate your investment. Discussed below are two of the most popular methods you can use to purchase SHIB in the market today:

Buy Shiba Inu coin with PayPal

Investors who prefer to buy Bitcoin with PayPal may also wish to use this payments provider to facilitate their Shiba Inu investment. At present, PayPal doesn’t allow users to purchase SHIB directly through their platform, as their asset selection is quite limited.

Crypto.com also users to make FIAT deposits using PayPal with a 2.1% transaction fee.   

Buy Shiba Inu coin with Credit Card or Debit Card

One of the easiest ways to purchase Shiba Inu instantly is by using a credit or debit card. All of the platforms that we reviewed earlier in this guide on how to buy Shiba Inu coin will allow clients to make payments using major card providers. Usually, this will take one of two forms – either making a FIAT deposit or directly purchasing the crypto using a card.

The three platforms we discussed earlier enable users to purchase SHIB directly using a credit or debit card.

Best Shiba Inu Wallet

Another critical thing to consider when researching how to buy 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.

These crypto wallets are specifically designed for handling digital assets and come in various types. ‘Hot wallets’ are the most accessible, although there is always the potential for hacking since they are connected to the internet. On the other hand, ‘cold wallets’ are not as widely used since they are physical hardware wallets, although they are deemed much safer since they keep users’ crypto holdings offline.

How to Sell Shiba Inu Coin

Now that you know how to buy SHIB, you may be wondering how to sell your coins once the time arrives. Luckily, the selling process can be completed in a few clicks.

Whilst on your account, click ‘Portfolio’ to see all of your open positions. Click on Shiba Inu and choose to sell. A box will then appear asking you to confirm your choice – click ‘Close Trade’ to sell your SHIB holdings instantly.

Since the crypto market is open 24/7, you can close your Shiba Inu trade at any time. The trade balance will automatically be placed into your trading account, where you can withdraw it or use it for other investments. 

How to Buy Shiba Inu – Conclusion

In summary, this guide has taken an in-depth look at how to buy Shiba Inu coin, exploring the coin’s features and use cases before providing a detailed walkthrough of the investment process.

If you’re wondering where to buy Shiba Inu coin today, we recommend partnering with Crypto.com.

Update – we’ve also written a more updated article on whether Shiba Inu is a good investment, covering the latest price action.

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