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The famous Shiba Inu coin has been attracting attention since its debut in the meme coin space. Although it appears to have the same symbol as Dogecoin, it is a different coin known as the DOGE killer. Although more and more meme coins have appeared recently, the Shiba Inu has managed to maintain its position in the rankings.

In this article we will discuss more about this popular coin, the latest Shiba Inu news and where to buy it.  We have selected some of the best platforms for beginners and advanced investors to buy Shiba Inu.

eToro Crypto
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Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply....

Coinbase – crypto
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Kraken
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Rating
5
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4
4
For Beginners
Instant Verification
Mobile App
Wallet Service
Coin Selection
0
0
10
0
Rates
Trading fees
1% per transaction
Commissions
maker taker fees
Commissions
Deposit fees
$0
$0
N/A
$0
Withdrawal fees
$5
$0
N/A
$0
Additional features
Regulated
Yes; CySEC, FCA, ASIC, FSAS
e-Money license from the FCA
No
Yes but not in all regions.
Min.Deposit
$10
$50
$10
$10
Leverage
Yes
Yes
No
Yes
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What is Shiba Inu?where can you buy shiba inu coin

The Shiba Inu cryptocurrency is similar to Dogecoin in style as it has a very similar theme. However, the Shiba Inu token is not only strikingly similar to its canine counterpart, but it goes further than that.

Using Ethereum’s strong network, the token has created a DeFi ecosystem, and Shibaswap (the company’s decentralized exchange) has played an integral part in shaping that ecosystem.

In addition to this, Shiba Inu tokens can also be used on Shiba Inu’s staking platform “ShibaSwap,” where users can earn interest if they stake their tokens. ShibaSwap has recently released an NFT marketplace themed around Shiba Inu called Shibatoshis, where users can buy NFTs based on Shiba Inu.

On a broader level, Shiba Inu’s platform is hosted by 3 different tokens native to the platform. Those three tokens are Shiba Inu (SHIB), Leash (LEASH), and Bone (BONE).

Due to the limited supply of BONE and LEASH, this coin’s price per token is higher than the price of SHIB, the largest token in terms of market capitalization.

Today, the live price of Shiba Inu is $ 0.00001 per (SHIB / USD) with a current market cap of $ 5.80B USD. According to the source the Shiba Inu currently ranks 19 among all known cryptocurrency assets. The popularity is based on relative market cap.

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.

Why Buy Shiba Inu?

As one of the meme tokens that has taken off recently, Shiba Inu has had quite a good year. It is not uncommon for a particular cryptocurrency to generate such a high level of interest. In recent years, we have seen a number of parabolic moves in a variety of cryptocurrencies. One of the most impressive aspects of Shiba Inu’s rise to prominence in such a short period of time is how fast it has been.

Token trading commenced in August of last year, at $0.0000000005 , at a total market capitalization of $600,000,000. At the moment, investors can buy SHIB for $0.000009752  at the moment of writing. Even if some investors wonder: Is Shiba Inu dead?, it is expected to be back on an upward trajectory and regain investor interest.

How much does it cost to buy Shiba Inu?

According to the CoinMarketCap, the live price of Shiba Inu is $ 0.000009752 (SHIB / USD) with a current market cap of $ 5.75B USD. 24-hour trading volume is $ 198.44M USD. SHIB to USD price is updated in real-time. Shiba Inu is +1.8% in the last 24 hours with a circulating supply of 589,300.10B.

A SHIB community-building experiment has been created based on the SHIBA INU ecosystem as an experiment in decentralised spontaneous community-building. SHIBs can be held by one user at a time, with no limit on the number of SHIBs that can be held. The role of ShibaSwap is to act as a platform that incentivises the use of a cryptocurrency token called Shiba, commonly known as Shiba.

How to Buy Shiba Inu Coin in 2024

1. Open an exchange account

Shiba Inu is a type of dog that can be found on eToro, Voyager, and Coinbase. In addition to being available on Uniswap and Sushi DEX, SHIB is also available on cryptocurrency exchanges running on Ethereum.

buy shiba inu

Opening an account with one of these crypto exchanges is as simple as providing your email address and creating a password, but you will need to provide both. In addition, to ensure that you are who you say you are for tax purposes, you will need to verify your identity before you can begin trading.

To participate in the exchange, you will need to provide certain information such as your social security number, a photo of your driver’s licence and your birthday.

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.

2. Use Uniswap or a centralized exchange

There are two main ways to get Shiba: centralised exchanges and decentralised exchanges. If you are using an exchange called eToro, you can skip to the next step if you are using a centralised exchange.

It’s great to have decentralised exchanges (DEX) that participate in almost every Ethereum-based coin, such as Shiba, as there are many of them. In addition, decentralised exchanges such as UniSwap, which is powered by the Ethereum blockchain, have become increasingly popular recently.

The technology behind UniSwap is backed by more than $2 billion in resources, and thousands of investors use the platform to trade Ethereum-based tokens.

You will need a software wallet such as MetaMask or Coinbase Wallet to trade on a DEX. You can own your cryptocurrency using crypto wallets instead of certain centralised exchanges, which have to charge fees for using their services.

3. Buy a crypto wallet (optional)

It would help to consider where you will be storing your Shiba Inu tokens before taking the plunge and getting yourself some Shiba Inu tokens. If you aren’t actively trading, it’s not a good idea to keep your tokens on a crypto exchange unless you’re actively trading your tokens. Several exchanges operate cryptocurrency, and several of these platforms have been compromised in the past.

Using software wallets for cryptocurrencies is not only free and convenient, but also much more secure than using crypto exchanges, as they use proprietary technology. In addition, you will need an easy-to-use software wallet to interact with Uniswap, and you will find that Coinbase Wallet and MetaMask are the best options.

You should opt for a hardware wallet if you want to ensure that your cryptocurrency assets are stored securely at all times. It is a physical device that stores cryptographic keys offline, meaning that it is entirely unhackable and where your funds cannot be stolen.

4. Make your purchase

If you wish to complete the process of connecting your bank account to eToro, then you will first need to verify your identity with the company. If you have already found your SHIB order book, you should now place the order there.

UniSwap is not a stock exchange as other exchanges are and do not use order books. Instead, a Uniswap strategy uses liquidity pools to calculate the price of crypto assets instead of individual trades determining the price. To swap your Ethereum tokens for Shiba Inu tokens, you need to connect your wallet to Uniswap’s website after establishing it. We recommend that you hold on to your Ether tokens for as long as possible if you’re in it for the long run.

How to buy Shiba Inu coin with PayPal

Cryptocurrencies such as Shiba Inu can be purchased through PayPal, which has become a trend. As far as we know, there are no other crypto exchanges that allow you to invest in SHIB using PayPal, apart from Binance, Coinbase, Bitpanda, etc.

How to Buy Shiba Inu Coin with Bitcoin

As a result of growing awareness and popularity, a wide range of products and services can now be purchased using Bitcoin and other cryptocurrencies. In recent years, the number of retail stores and payment processors accepting Bitcoin has increased to some extent, although there are still some major hold-outs. A merchant can even buy Shiba Inu coin with Bitcoin on some exchanges.

Buying Shiba Inu coin safely

There are no guarantees with this meme coin, so it’s a good idea to keep an eye on Shiba Inu news. Demand for ShibaSwap can grow enormously if it becomes popular, but Shiba does not bring any new concepts to the Ethereum Decentralised Finance (DeFi) ecosystem. Even if it has more use cases than Dogecoin, it does not mean that it will perform better than Dogecoin because it is on the Ethereum network.

Buterin donated her Shiba tokens to two charities that have to sell most of their Shiba tokens in a market where the supply of Shiba tokens is low, which will eventually lower the price of the tokens. Unfortunately, while these donations have given Shiba more visibility and legitimacy, it will still be difficult for Shiba to return to its all-time highs any time soon. 

Investing in anonymous projects like ShibaSwap also comes with its own security risks, as a critical flaw in the code could allow developers to steal cryptocurrency from investors by scamming them.

Unfortunately, in the Wild West that is DeFi, some scams are causing users to lose millions of dollars with increasing frequency. If experienced code auditors had access to the code, this possibility could be ruled out, but ShibaSwap hasn’t been audited yet, so they couldn’t do this.

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.

Risks of Buying Shiba Inu

As such, altcoins have a strong community function as opposed to their utility. For this reason, the success and growth of the community is crucial in determining how successful they are, explains Boneparth, who has been investing in cryptocurrencies since 2014. In its white paper, for example, Ryoshi describes the Shiba Inu as “an experimental, decentralised, spontaneous community-building experiment”.

Even though experts warn that if you invest in cryptocurrencies, you could lose your entire investment. These authorities generally recommend that you only invest what you can afford to lose, regardless of which cryptocurrency you choose. However, it is important to remember that altcoins may require a greater level of caution because they differ from something like Bitcoin in several aspects, including their structure, supply, and usage.

how to buy shiba inu

A good example is Bitcoin, which was created in 2009 as a peer-to-peer electronic cash system. In addition to its blockchain, the company has carefully designed an ecosystem to support the blockchain. Taking advantage of the fact that bitcoins are in limited supply, the design allows for a degree of built-in scarcity.

The fact that it can be used for this purpose makes it such a valuable investment for its holders, with the hope that it will be recognised  prominent decentralised digital currency.

Most altcoins lack these characteristics

Shiba Inu’s supporters claim that the ecosystem it offers, including features like smart contracts, non-fungible tokens and enterprise-wide liquidity mining capabilities, exceeds community value.

While this is true, Brett Harrison, president of cryptocurrency exchange FTX US, warns that “these altcoins can be extremely risky and may not always have inherent value as investments, and that individual retail investors should always conduct research and due diligence before trading these assets”.

Rather than investing in a booming cryptocurrency on the back of hype, Harrison is looking for assets that offer a specific utility to make money from crypto assets.

Crypto assets are a growing area of interest for investors. They provide a store of value, facilitate an efficient mechanism for transferring funds or serve as an algorithm that enables the construction of blockchain-based applications, writes Marcus. He says many assets may be suitable for retail users.

Selling Shiba Inu

Uniswap will be able to convert your Shiba Inu tokens into Ethereum tokens so that you can exchange your Shiba Inu tokens for Ethereum. The Ethereum tokens that you receive as a result of exchanging your Shiba Inu for Ethereum will be credited to the Ethereum wallet you have set up through Uniswap. You can then use any exchange that supports Ethereum to exchange them back into USD.

Shiba Inu Price Forecast

Our latest forecast for the price of Shiba Inu suggests an increase of 3.01%, projecting that it will reach $0.00001024 by 06 January 2024. According to Marie Tatibouet, chief marketing officer of cryptocurrency exchange Gate.io, the Shiba frenzy is expected to subside somewhat soon. The expert predicts that the market will correct itself in the short term as the hype dies down a little, and that the market will soon stop falling.

Jordan McCreery, founder and partner of integrated media company Ingrained Media, disagrees. “In my opinion, Shiba has a real opportunity to grow from a fraction of a cent to something in excess of $0.01 or even more,” he said.

Don Guo, CEO of fintech firm Broctagon, told Bloomberg that it would be impossible for Shiba Inu to reach $1 status in the foreseeable future. For SHIB to reach the elusive dollar, its market capitalisation would have to reach a quadrillion dollars, he told The Express.

SHIB has a shipload of $1.3 trillion of capital ready for development and access to the best student loans in the world. This difference represents less than 3% of the amount SHIB needs to reach this price point. SHIB has a greater than 50% probability of staying within a range of less than a fraction of a cent given the current economic conditions.

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.

Shiba Inu news

  • According to the source, Shiba Inu’s layer-2 blockchain, Shibarium, made significant advancements in the interim. The Shibarium network took only 18 days to amass 1 million interacting wallets on its network.
  • One of the latest Shiba Inu news is that Justin Sun, the influential tech mogul and founder of the TRON blockchain, recently made a significant transaction involving billions of SHIB tokens amid whales moving trillions of SHIB tokens.
  • Shiba Inu price fell by nearly 5% on friday on the weekly chart after the crypto market took a hit following the Matrixport report that said the US Securities and Exchange Commission (SEC) would reject the applications of spot Bitcoin ETFs.

Where to buy Shiba Inu in May 2024

1. eToro – Overall best Shiba Inu trading platformShiba inu trading

Our review of 50+ crypto day trading platforms for 2024 showed that eToro is by far the best. The site is heavily regulated, which may be the most important fact. That includes licenses from FCA, ASIC, and CySEC – but eToro is also registered with and authorized by FINRA.

eToro is therefore safe and secure for traders in the United States and around the world. There are 18 popular cryptocurrencies you can buy and sell on eToro, in addition to Bitcoin, EOS, Bitcoin Cash, Ethereum, Uniswap, Ripple, Shiba Inu, and Binance Coin. The ability to trade derivatives related to cryptos may also be available depending on where you live.

The yen, euro, British pound, and U.S. dollar are all fiat-to-crypto pairs included in this category. In addition to crypto-to-crypto trades, you can also trade BTC/XRP and ETH/BTC. Most eToro customers can trade these crypto CFD derivatives – unless you are from the U.S., U.K., or Hong Kong. Nonetheless, with regards to fees, eToro is a 100% commission-free cryptocurrency day trading site. In other words, you are not charged any fees if you enter and exit the market as often as you like.

how to buy shiba inu coin in us

Registration and payment methods in USD are free. You will be charged a small currency conversion fee of just 0.5%. You will also be offered passive investment tools in eToro’s user interface, making it one of the best crypto day trading platforms around. CryptoPortfolios include a diversified basket of digital currencies with different weightings. eToro manages your portfolio so you don’t have to worry about rebalancing it yourself.

Another option is to use the Copy Trading tool to buy and sell cryptocurrencies. eToro uses crypto traders who are experienced and proven investors. You will be copying their trades. The minimum amount required is $500. You only need $25 to make a crypto trade if you do it yourself. Opening an eToro trading account takes just a few minutes.

Pros:

  • Trading platform and online broker that is extremely user-friendly
  • Spreads are tight on thousands of assets
  • 100% commission-free
  • In addition to stocks, indices, ETFs, and cryptocurrencies, you can trade a wide variety of instruments
  • Social trading and copy trading
  • Accepts PayPal
  • Regulated by the FCA, ASIC, and CySEC, and registered with FINRA in the US

Cons:

  • Traders who perform technical analysis may not be interested in this product

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.

2. Binance – The best Shiba Inu coin trading platform for small-cap pairs

where to buy shiba inu cryptoYou will likely have a chance of finding the cryptocurrency you are looking for on Binance. That is because a huge volume of transactions is conducted on this cryptocurrency exchange every day, worth billions of dollars.

It includes several small-cap coins as well as hundreds of pairs. There are hundreds of ERC-20 tokens included as well. Your debit/credit card might be accepted where you live.

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However, fees range between 3 and 4%. Nevertheless, Binance’s trading fees are exceptionally low. If you own Binance coins (BNB), you’ll pay even less – just 0.1% – on the platform. As well as offering various charting options and order types, Binance is a great option if you enjoy technical analysis.

Pros:

  • Advanced charting platform with customizable indicators
  • There are hundreds of supported pairs
  • 0.10% commission
  • Supports fiat currency
  • BNB users get a discount on fees
  • Security measures have proven to work

Cons:

  • Support is provided only through the ticket system
  • Deposits by debit/credit card are charged up to 3.5%

Your money is at risk.

3. Coinbase – Good selection of digital currencies

buy shiba inu cryptoCoinbase, a cryptocurrency trading and investment platform, offers over 100 tradable cryptocurrencies, including Bitcoin, Ethereum and Shiba Inu. Over 73 million users access Coinbase, which has over $255 billion in assets under management.

Simple buy and sell orders are likely to be preferred by beginners on the original Coinbase platform. However, Coinbase Pro, which is available to all Coinbase users, offers more advanced features and order types.

In general, digital currencies are an emerging asset class that can be risky and volatile, making them unsuitable for all investors. Nevertheless, if you’re into cryptocurrencies, Coinbase is an excellent option for both beginners and advanced.

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Pros:

  • Easy to use for cryptocurrency beginners
  • Support for a large number of cryptocurrencies
  • Opportunities to earn cryptocurrency
  • Lower pricing available with Coinbase Pro

Cons:

  • Potentially high transaction fees
  • Customer service issues
  • No access to trade many altcoins

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.

Ranking Criteria

When selecting the platforms where you can buy Shiba Inu currency, we have taken into account some important criteria. These include:

  • Accessibility: Priority is given to an easy-to-understand user interface, providing a simple and accessible experience for those without a deep knowledge of cryptocurrencies.
  • Security and Licensing: Our experts have selected secure and licensed platforms that offer robust measures to protect users' assets and information from fraud.
  • Transparent and favourable fees: Transparent and advantageous fees are considered a critical element that has a significant impact on the total cost of transactions and ensures transparency in dealing with investors.

Conclusion

Since its launch, Shiba Inu has captured the attention of investors and seen a significant increase in value, which has generated a lot of interest in the crypto community.However, like many other cryptocurrencies, Shiba Inu has experienced periods of volatility after its heyday. Which is still being felt today.

According to the latest Shiba Inu news, analysts and investors are keeping an eye on the coin for signs of a possible rise. With this in mind, we recommend that investors looking to invest in the meme currency buy Shiba Inu from the secure and licensed platforms we have discussed in this article.

FAQs

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References

Jhonattan Jimenez Finance and Crypto Writer

Jhonattan Jimenez Finance and Crypto Writer

Before starting his career as a freelance writer, Jhonattan studied at the Universidad La Gran Columbia from which he graduated in 2019. Jhonattan describes himself as a crypto enthusiast and regularly writes price prediction articles for new projects. During his time as a writer, Jhonattan has gained great knowledge about the crypto space and has mastered technical analysis skills that he uses when writing token price predictions. As well as writing for Trading Platforms, Jhonattan has written for Stocksapps.com and Buyshares.co.uk.