Shiba Inu gained popularity in early 2021 after growing its price by more than 5 million percent. In the course of that year, Shiba Inu also made it to the list of top 10 most valuable cryptocurrencies, flipped Dogecoin (albeit momentarily), welcomed an unprecedented community of supporters, and expanded its ecosystem.
While this accumulation momentum may have died down in early 2022, Shiba Inu still is one of the most popular and one of the most sought-after meme coins.
But how can you buy Shiba Inu today? Importantly, is it worth buying Shiba Inu today?
We will be answering both these questions in this Shiba Inu investing guide. We will also tell you the 3 best places to buy Shiba Inu and everything else you need to know before buying Shiba Inu.
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Read on.
How To Buy Shiba Inu (SHIB) – Quick Guide
Want to jump straight to buying the second most valuable meme coin? Follow this three-step guide that teaches you how to buy Shiba Inu via eToro with as little as $10.
- Step 1: Open an eToro Account – Open the official eToro website and create a crypto trader account here. The account creation process is smooth and its approval relatively fast.
- Step 2: Deposit Funds – Deposit cash into the eToro trading account. You need a minimum of $10 to start buying Shiba Inu via eToro. The supported payment methods include PayPal, credit cards, debit cards, bank wire transfers, and eWallets (Skrill, Neteller).
- Step 3: Search for Shiba Inu – go to the search bar on the eToro dashboard and type in SHIB or Shiba Inu from the dropdown menu.
- Step 4: Buy Shiba Inu (SHIB) – Finally, indicate the number of SHIB tokens you wish to purchase and hit the “Open Trade” button.
That’s it! By following these easy steps, you can invest in Shiba Inu in less than 5 minutes.
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Where To Buy Shiba Inu (SHIB)
Shiba Inu is one of the most popular meme coins. Throughout 2021 and for the better part of 2022 it has continued attracting massive investor interest and growing its community of followers. All these have helped draw recognition to the coin and ensured that it is listed with all the most popular exchanges.
To help you get started with buying Shiba Inu, we will be introducing you to the three best places to buy Shiba Inu today:
1. eToro – Overall Best Place to buy Shiba Inu (SHIB)
eToro ranks highly on our list of top exchanges to buy Shiba Inu because of its innovative and resource-rich trading platform. It also makes it here because of its affordable deposit and trading minimums as well as low and transparent trading fees. We also feature it among the best crypto trading platforms because of its appeal to both beginner and expert investors.
It all starts with a straightforward client onboarding process and a relatively fast account approval process. It then extends to affordable deposit and trade minimums of $10, which can be deposited via such popular payment methods as PayPal, credit cards, debit cards, bank wire transfers, and eWallets.
eToro’s trading platform is also highly intuitive and beginner-friendly. But it also integrates a host of trading, research, and risk management tools that appeal to expert investors. Further, eToro is a relatively liquid exchange and maintains some of the fastest order execution speeds.
You even have the option of trading Shiba Inu CFDs or buying actual Shiba Inu tokens (depending on your country of residence) and all these make eToro appealing to Shiba Inu day traders.
Deposits into eToro are free. Plus, when buying Shiba Inu on the platform, you will only have to part with the fixed 1% transaction fee.
Other factors that convince us why eToro is one of the top exchanges to buy Shiba Inu are its added perks. The crypto exchange, for instance, lets you interact with its social and copy trading platforms that let both expert and novice Shiba Inu investors earn passively. Further, eToro provides crypto investors with a free custodial vault that stores 90% of its holdings offline as well as a non-custodial mobile wallet app.
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2. Crypto.com – Best Place to buy Shiba Inu (SHIB) For High Instant Deposit Limits
Crypto.com is a relatively new but massively popular crypto exchange. It is also deeply liquid as it often processes crypto trades worth more than $2 Billion daily. But this isn’t the primary reason why we featured it on our list of top exchanges to buy Shiba Inu.
We include it here because of its support for instantaneous and relatively higher deposit minimums. For instance, while you can deposit a maximum of $40,000 daily on eToro via cards, Carypto.com lets you deposit up to $50,000 daily, instantly.
Crypto.com also makes it to our list of best exchanges to buy Shiba Inu because of its beginner friendliness. This is evidenced by its easily navigable user interface, a straightforward client onboarding process, and the fact that the exchange maintains affordable deposit and trade minimums – of $20.
The supported payment methods on the fast-growing crypto exchange are credit card, debit card, bank transfer, SEPA, Transfer Wise, and even PayPal. Most of these deposit methods are instantaneous and crypto.com doesn’t charge deposit processing fees. You only have to pay the transaction fee charged by your payment service provider.
The only other fees you get to interact with when buying Shiba Inu on Crypto.com are the competitive and heavily discounted trading fees. Here, you pay a fixed maker/taker fee of between 0.4% and 0.10%. And if you stake 5000 CRO (Cronos) tokens on the platform, you get to enjoy a 10% discount on the transaction fees, bringing this cost of trading down to between 0.36% and 0.09%.
In addition to being beginner-friendly, the Crypto.com trading platform also appeals to expert crypto investors. It achieves this by maintaining some of the fastest order execution speeds. It also integrates a diverse range of premium trading, analysis, and risk management tools. And they all, plus its deep liquidity, make Crypto.com one of the best trading platforms for active traders.
Other reasons why we feature Crypto.com among the top exchanges to buy Shiba Inu include its innovativeness. It, for instance, recently launched the crypto staking and lending programs that let Shiba Inu investors earn passive incomes on staked SHIB tokens. They also get to borrow funds against up to 50% of their staked/saved tokens at highly competitive interest rates and flexible repayment periods – up to 12 months.
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3. Binance – Best Place to Invest Shiba Inu (SHIB) For Low Trading Fees
Binance is one of the most liquid crypto exchanges in the world – processing crypto trades worth more than $40 Billion daily. It also maintains some of the lowest crypto trading fees. For instance, when buying Shiba Inu on the Binance exchange, you will only pay a maker/taker fee of between 0.1% and 0.04% – based on your 30-day trading volume.
Moreover, if you pay the transaction fee with BNB coins, you get to enjoy a 25% discount on the fees, bringing them further down to between 0.075% and 0.03%.
These explain why Binance features prominently on our list of the best places to buy Shiba Inu in 2022.
But low fees and deep liquidity aren’t the only reason why Binance ranks this high on the list of top exchanges to buy Shiba Inu. Others include the fact that it supports a wide range of crypto assets, which increases the number of Shiba Inu crypto pairs available for trading on the platform.
Additionally, Binance maintains an easily navigable user interface. This platform then integrates the widest range of premium trading, analysis, and risk management tools. It also maintains some of the fastest crypto order execution speeds. Not forgetting that you can start trading Shiba Inu with as little as $1 on Binance.
The low trading minimums, intuitive interface, and low trading fees make it one of the most beginner-friendly crypto exchanges. The fast order execution speeds, a wide range of Shiba Inu trading pairs, low fees, and advanced trading tools make it appealing to active traders, especially scalpers.
Like all other best places to buy Shiba Inu, Binance maintains a smooth and straightforward client onboarding process. It also provides its platform users with free crypto custody services by promising to hold their Shiba Inu tokens in offline vaults on their behalf. And if you are looking for non-custodial crypto wallet services, Binance provides you with a free mobile wallet app – the Trust Wallet.
Binance also stands out with its outsized crypto-insurance scheme. It has established a $1 Billion private insurance fund, referred to as SAFU (Secure Asset Fund for Users), to compensate crypto investors on its platform in case of breaches that lead to loss of investment.
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What Is Shiba Inu (SHIB)?
Shiba Inu is a meme coin that launched in August 2020, named after the all-popular internet meme of a Shiba Inu dog. It even features the head of the dog breed as its symbol.
The dog-themed joke currency was created by an anonymous entity referred to pseudonymously as “Ryoshi.” It was inspired by the success of the dog-themed meme coin – Dogecoin.
Shiba Inu is even referred to as the “Dogecoin killer” because when it started, its website indicated that the meme coin’s primary goal was dethroning DOGE as the lead meme coin. It achieved this – momentarily – at the height of the early 2021 crypto market rally.
After the mid-2021 crypto market crash, its goals changed. It shifted its focus from dethroning Dogecoin to enriching the Shiba Inu ecosystem. To this end, its development team launched a clear roadmap that indicates the different fundamental adjustments they intend to add to the Shiba network.
Key among them is the launch of the ShibaSwap decentralized exchange. They also intend to launch a launchpad for tokens, which will accelerate the burn rate for Shiba Inu tokens. They have also hinted at creating Shibarium – a layer-2 scaling solution for Ethereum that Ryoshi argues will be more decentralized than Polygon or Binance Smart Chain.
All these factors have helped convince most crypto investors of Shiba Inu’s sustainability. They have also played a crucial role in fueling investor interest in the joke currency.
Is Shiba Inu (SHIB) A Good Investment?
Shiba Inu is a massively popular cryptocurrency that has posted incredible value gain in the past, enough to convince any crypto trader of its viability as an investment. But the fact that it is a meme coin casts a wide shadow of doubt over its sustainability.
To better understand whether it is worth buying Shiba Inu today, we need to look at both the reasons for buying the joke coin today and the risks associated with SHIB investing at the moment.
Reasons To Buying Shiba Inu (SHIB) Today
- Potential for massive value gain: Increased burn rate for Shiba Inu tokens as well as an expanded ecosystem that increases the token’s use cases are expected to fuel value gain for the meme coin. These plus a recovering crypto market will undoubtedly catapult a SHIB investor’s portfolio to new heights.
- The hype around the coin is growing: The hype around Shiba Inu has been on the rise, fueled by endorsements from celebrities, association with the likes of Vitalik Buterin, and a massively vibrant online community of followers.
- Accessible and highly liquid: Shiba Inu is listed with virtually all the most popular exchanges and its daily trade volumes have been on a perpetual rise. This makes the liquidation of even the largest SHIB portfolio relatively easy and fast.
- Incredible past price action: You may also consider buying Shiba Inu today because it posted massive value gain in the past. Experts do not expect this wave of unprecedented value gains to die any time soon because all the factors that helped catapult SHIB to an all-time high in 2021 are still actively fueling its current recovery.
- It is resilient: You may also want to buy SHIB tokens because they have proven their resilience. Despite the backlash meme coins have been subjected to by the mainstream media and the volatile market crashes in mid-2021, SHIB has sustained its uptrend and its position among the 20 most valuable crypto projects.
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Risks Of Buying Shiba Inu (SHIB)
- It is massively volatile: Shiba Inu is a massively volatile crypto asset and its price crashes often. The dog-themed coin is, for instance, currently selling close to 90% below its all-time high, and there is no telling if it will ever recover.
- High risk of collapse: Meme coins have the highest risk of collapse. They form the greatest pile in the pit of dead coins and Shiba Inu is not immune to the factors that caused the stall and eventual death of its peers.
- Large circulating supply: Shiba Inu’s expansive supply of 500+ trillion tokens places a subtle limit on how high the token prices and the ecosystem’s market cap can reach in the foreseeable future. This then places a cap on just how high your crypto portfolio grows.
Shiba Inu (SHIB) Price Prediction
Despite the value loss, the majority of analysts are confident that Siba Inu will recover and reach new heights over the next few years. Some of the factors that they believe will help revive Shiba Inu include a recovering crypto market and support from SHIB’s growing community.
They also expect growing investor interest in the meme coin and a revived meme coin craze to play a crucial role in getting Shiba Inu back to its all-time high prices.
Overall, the majority of crypto analysts and investors are convinced that Shiba Inu has everything it needs to force a rebound and a price run towards, and possibly above, the current all-time high.
The most optimistic, like technical analysts at Gov Capital, are convinced that Shiba Inu can recover and grow its worth by more than 31000% to reach $0.00093 by the end of 2022.
The crypto industry players are also massively bullish about Shiba Inu’s medium-to-long-term price direction. They are confident that an expanding ecosystem, the increased burn rate for Shin Tokens, and sustained investor confidence in the meme coin will help sustain its uptrend.
Over the next 5 years, for instance, technical analysts at the reputed Wallet Investor expect Shiba Inu to have reached $0.00013. By the turn of the decade, analysts at Telegoan expect Shiba Inu token prices to rise by close to 9000% and reach $0.00112.
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Ways To Buy Shiba Inu (SHIB)
While discussing the top exchanges to buy Shiba Inu, we pointed out the diverse payment methods.
In this section, we will be expounding on the three most popular ways of buying Shiba Inu today.
How to Buy Shiba Inu With Credit Card and Debit Card
Credit cards and debit cards are arguably one of the most accessible payment methods. A large number of crypto exchanges, including the three we have discussed hereinabove all let you buy Shiba Inu with credit and debit cards.
The upside to buying Shiba Inu with credit cards can be attributed to the fact that card payment processing is almost instantaneous. Additionally, most of the exchanges that we have listed above do not maintain deposit processing fees for card payments.
How to Buy Shiba Inu With PayPal
A growing number of crypto traders prefer buying Shiba Inu with PayPal because of its efficiency. The payment method is easy to use and transaction processing instantaneous. Additionally, most crypto exchanges that support PayPal do not maintain a deposit-processing fee.
The only downside to buying Shiba Inu with PayPal is that only a handful of crypto exchanges – like eToro – support PayPal deposits.
How to Buy Shiba Inu Bank Account
Banks are the most accessible payment methods. This explains the reason virtually all the crypto exchanges, including the top trading platforms we have featured in this Shiba Inu investing guide, welcome bank deposits.
The upside to buying Shiba Inu with bank deposits is that most exchanges do not have a maximum deposit limit for bank transfers. The downside, on the other hand, is that bank transfers take relatively long before they can be processed. At eToro, for instance, it takes between 3 and 8 days for a bank deposit to reflect in your trader account.
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Best Shiba Inu (SHIB) Wallet
There are two primary types of wallets that you can use to hold your Shiba Inu investment. The first and most accessible option is the free online wallets provided by crypto exchanges or such third-party crypto custody service providers as MetaMask and Exodus.
The only downside to holding your SHIB tokens in an online wallet is that it exposes you to hacking threats.
For this reason, we advise our readers to get their private keys off exchanges and online wallets and move them to reliable hardware wallets. These store your keys offline – away from the many threats facing hot wallets.
How To Buy Shiba Inu (SHIB) – Tutorial
Throughout this post, we have told you everything you need to know about buying Shiba Inu. From what it is to its past price action, the top exchanges to buy Shiba Inu, and even the different ways to buy the meme coin.
Next, we provide you with a step-by-step guide on how to buy Shiba Inu on the all-popular eToro trading platform.
Step 1: Create a trader account
Open the official eToro website and hit the “Join Now” icon to begin the account creation process. Complete the registration form that pops up. It asks for such personal information as your name, address, and phone number. It will also ask about your trading history and source of income.
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Step 2: Verify your identity
To complete the registration process, the multi-regulated crypto exchange will require you to verify your identity. You achieve this by emailing a copy of a government-issued document to the eToro support team.
Step 3: Deposit funds into the account
Log in to your approved crypto trader account and on the user dashboard, tap on the “Deposit” icon. A funding window will pop with a list of the payment options available to you based on your country of residence. Choose one and follow the prompts to complete the deposit. Note that the minimum you can deposit into eToro is $10.
Step 4: Search for Shiba Inu
On the user dashboard, click on the “Discover” tab, and from the list of available asset classes, choose “Crypto.” Use the search option to find Shiba Inu or simply locate it from the list of crypto assets supported on the platform.
Step 5: Buy Shiba Inu
Click on the “Buy” option. A trading window will pop up and you can customize the investment here by indicating the amount of cash you wish to spend on buying SHIB tokens or the number of Shiba Inu tokens you wish to purchase. Complete the trade by hitting the “Open Trade” button.
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How To Sell Shiba Inu (SHIB)
It is simple. Start by logging in to eToro or the exchange where you purchased your Shiba Inu tokens. Deposit the SHIB tokens to the exchange (assuming you had taken your meme coins off the exchange and onto an offline wallet).
Open a sell order. If you wish to sell the coins immediately and at the prevailing market rate, open a market order. If you wish to set the selling price for your coins, open a limit order and set your selling price.
Conclusion – How To Buy Shiba Inu (SHIB)?
Buying Shiba Inu doesn’t have to be complicated. There are now a growing number of tier-one crypto exchanges that list the meme coin and they all have oversimplified the process of buying SHIB on their platforms.
To help you start investing in the meme coin, we have discussed the best exchanges to buy Shiba Inu. We have also provided you with a step-by-step guide on how to buy Shiba Inu at eToro.
We have even described the different ways through which you can buy Shiba Inu. We have taught you how to buy SHIB with PayPal, credit cards and debit cards, and even banks. And you only need $10 to start buying Shiba Inu on eToro.
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FAQs About Buying Shiba Inu
What will Shiba Inu be worth in 2022?
The crypto market is wildly volatile and unpredictable at the moment. Therefore, no one can tell with utmost accuracy what Shiba Inu will be worth by the end of the year. The majority of analysts and investors are nevertheless confident that Shiba Inu token price will rebound and be worth much more in December than its current price.
Is Shiba Inu worth buying today?
Yes, Shiba Inu is worth buying today because it has proved its resilience. There also is a lot of developer activity on the Shiba Inu network, the meme coin is growing its community of followers and there is increased investor interest in Shiba Inu – all of which are expected to continue fueling SHIB’s value gain.
Will Shiba Inu ever reach $1?
It is not impossible for SHIB to eventually reach $1. To get here, however, it will need to burn a significant portion of the SHIB tokens in circulation.
Which is the best exchange to buy Shiba Inu?
In this post, we have discussed what we consider to be the three best exchanges to buy Shiba Inu. They all are great trading platforms but we would recommend that you create a trader account with eToro. The crypto exchange isn’t just beginner-friendly but also maintains affordable deposit minimums and competitive trading fees.
Can I buy Shiba Inu with PayPal?
Yes, you can buy Shiba Inu with PayPal. This, however, can only be done through a crypto exchange that supports PayPal deposits, such as eToro.
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