How to Buy Shiba Inu (SHIB)
Shiba Inu seems to be on the rise more than many of its compatriots. It’s certainly one of the more sought-after Ethereum-based altcoin options.
It’s so popular, that its supporters label it as the Dogecoin killer. Today, it’s all about helping you learn how to buy Shiba Inu. So, why not jump into the good stuff?
Where to Buy Shiba Inu
You have quite a few choices when considering where to buy Shiba Inu. First, as with other assets, you can buy Shiba Inu in a few different places. The first and most common, are the cryptocurrency exchanges.
These are simply online marketplaces where crypto stakeholders come together to buy, sell, and trade various cryptocurrencies. You can liken these to other exchanges often used for different assets, such as stocks.
Payment services, often referred to as payment gateways, provide another option. Here, you have an intermediary designed to allow for compatibility and inclusivity. PayPal is an example of one of the most common, as it’s almost universally accepted.
You can look at a brokerage as something that lies between the two. It’s an intermediary that facilitates buying and selling on a crypto market on your behalf.
There’s no objectively best way to buy Shiba Inu. Base your choice on the payment methods applicable to you and your location, as well as your level of comfort.
For example, you may not have an internet transaction-enabled credit or debit card. This would rule out the possibility of using these methods. However, you may have alternate means of loading a PayPal wallet (bank transfer, for example), making PayPal the most suitable choice for you.
Best Place to Buy Shiba Inu
Even with a sea of choices, eToro is one of the best options for anyone looking to purchase Shiba Inu. Creating your account is a straightforward process, you would be diving into the experience with a proven broker. You even have the comfort of knowing that it’s regulated.
Regardless of where you look, you’re going to find that the platform is highly rated, and it’s not hard to see why.
Plus500 is another incredibly solid option, widely highly-rated for the ability to trade with leverage. Alongside Shiba Inu, their platform’s decorated resume includes the ability to dabble in other incredibly popular altcoin options, which gives you an idea of how trustworthy the system is. Additionally, it’s hard to beat minimum deposits that go as low as $100.
Beyond the functionality, intuitiveness, and Shiba Inu compatibility that eToro and Plus500 offer, it would be a travesty to gloss over the level of security you get when you choose to purchase Shiba Inu with either of these methods.
You can rest assured that your personal information is not being sold to any third parties, and security methodologies such as the implementation of SSL certificates are being used to keep your transaction information protected.
How to Buy Shiba Inu with PayPal
If you are interested in buying Shiba Inu with PayPal, then it is likely your best bet. While many of the other top competitors allow you to buy Shiba Inu with other methods, PayPal is not a common assault.
To execute this process, you need to first create your eToro account. Registration is simple, only requiring a username, email address, and password. Note that the password must contain uppercase and lowercase letters, alongside at least a single special character and digit, as the idea is to maximize security.
Once in, you deposit within your eToro profile. While you could do this with a bank transfer or credit card, PayPal is also a listed option. One of the advantages of PayPal is that this is a real-time transfer, which means the funds are available almost immediately.
From there, you can simply search for Shiba Inu and purchase in two different ways. eToro either allows you to specify the number of coins you want to buy or the amount that you want to invest in Shiba Inu. The former calculates the cost on your behalf, while the latter calculates the number of coins you can get instead.
How to Buy Shiba Inu with a Credit Card
The basic workflow on eToro, Plus500, or another platform that supports Shiba Inu and credit card purchases, is not that far removed from the PayPal method.
You tend to find that major credit and debit cards, such as Visa and MasterCard are supported. Depending on the platform you choose, prepaid debit cards are accepted too!
You would connect your card to your account and make a deposit using standard Fiat currencies. Following the deposit, you can then search for Shiba Inu on your selected platform and proceed to make your desired purchases.
Safe purchasing is not the only essential in Shiba Inu transactions. You also need to concern yourself with safe storage. First, considering that you are dealing with an Ethereum-based token, you must find that cryptocurrency wallet that supports the ERC-20 token standard.
On-exchange wallets offer a high level of convenience, but while secure, do not offer the best possible form of protection. Instead, you may want to prepare a personal wallet to store your coins.
Remember that your private key is akin to a password, and you should never share it with anyone else, as you compromise the integrity and privacy of your wallet and any funds it contains.
It’s long documented that hardware wallets provide the best security, primarily because they can be taken offline which puts them out of the range of attack while they’re not being used.
The general rule of thumb is that the further removed from the purchase platform the wallet is, the greater the level of security that it offers.
All these considerations are meant to prevent you from being hacked, as malicious entities are simply waiting for a single slip up to capitalize and run off with your Shiba Inu coins.
Place as much emphasis on storage safety as you do on purchasing safety, ensuring to take relevant precautions in either context.
Alternate Ways to Buy Shiba Inu
This is a step in quite the futuristic direction. There was speculation for some time that Shiba Inu may be going in this direction, but Coin Cloud ATMs are now confirmed to support Shiba Inu transactions. Coin Cloud is a Las Vegas-based entity with over 4,000 machines that make crypto trading that much easier.
Interested parties need only find a Coin Cloud ATM, put cash in, and have it converted to Shiba Inu coin. Alternatively, coin holders can also withdraw cash against their holdings, making usability more of a reality than ever before.
As indicated before, a broker is simply an intermediary. Therefore, if you are going this route, you would do your deposit to the broker’s platform, and the value you get comes in the form of the various products and services that the broker offers.
You wouldn’t be trading your Fiat currency or deposited crypto, allowing you to leverage an independent trading pair. If you have a greater requirement for liquidity, then you may want to go with a mainstream brokerage.
Note, however, that you are going to almost always have to submit some form of identification and verification before any form of transaction processing begins.
A P2P exchange facilitates buying and selling of cryptocurrency directly between users, without the involvement or influence of any central authority. It’s considered as one of the most secure ways to trade cryptocurrency, which is why its use for Shiba Inu is so appropriate.
The process here is not too far removed from your online marketplaces, as you would create your account, and select a payment method appropriate to you. Once you’ve done that, you need only identify the number of coins you want to buy and directly purchase them.
The real kicker here though is that many of these platforms allow you to send and receive cryptocurrencies without the need for any identity verification. It’s not hard to see why this is often hailed as the most straightforward way to make these kinds of purchases.
Shiba Inu Price Prediction
Shiba Inu has seen several price fluctuations, with one of its most notable being a 1000% increase from $0.000007 to $0.0008 in less than a month.
It fell nearly 50% since then. It’s expected to potentially reach $0.0001 by 2023. By the end of 2022, the price should be hovering somewhere around the $0.000088 mark. Read our full Shiba Inu (SHIB) Price Prediction >>
It’s not so easy to find information on how to invest in Shiba Inu, which may be valuable insight, considering the surge of popularity that the altcoin has been seeing. The information above was meant to capture some of the most essential elements to help you through this process.
Following this all, you should now have a fundamental grasp of the best way to make your Shiba Inu purchases. Just in case you missed it, these include brokerages, exchanges, and payment services. Alternatively, you could use a Shiba Inu ATM for even greater convenience.
Platforms, such as eToro and Plus500, offer you convenience, functionality, and a high level of security.