This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed. Shiba Inu is arguably one of the biggest meme tokens ever, second only to Dogecoin. Shiba Inu was created in August 2020 as an alternative to Dogecoin , another meme coin that uses the Shiba Inu dog breed as its mascot. SHIB is built on the Ethereum blockchain and was launched with a total supply of one quadrillion—making it far more prevalent than other cryptocurrencies like Bitcoin.
You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. To do this, you first need to find a physical or online seller willing to exchange their Shiba for money. When you both agree on quantity and price, the seller transfers the Shiba Inu to your Shiba Inu wallet address in exchange for your fiat. When it comes to buying cryptocurrencies, the price of a whole coin can be intimidating. By contrast, the current price of Shiba Inu trades at a fraction of a penny.
Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Performance information may have changed since the time of publication. You can buy Shiba Inu on many of the popular cryptocurrency platforms, and it is also available on decentralized exchanges where you can trade SHIB for other cryptocurrencies.
This site does not include all companies or products available within the market. If you’re using a centralized exchange, you’ll need to deposit fiat currency or another cryptocurrency into your account. Shiba Inu is one of the more popular cryptocurrencies, and it is for sale on most centralized exchanges, such as Coinbase, Kraken and Gemini. If you don’t already own cryptocurrency, you’ll likely have to buy SHIB in cash through one of these exchanges. Such as with other cryptocurrencies in 2022, SHIB’s shine has faded as investors flee risky investments.
How To Buy Shiba Inu (SHIB)
“When looking for a cryptocurrency exchange, it is important to make sure that everything is secure and trusted,” Polotsky said. If you decide to invest in SHIB, you’re betting that more people will be interested in using products built using its technology — driving up demand. You may also believe that SHIB’s community of users will attract people away from more buttoned-up cryptocurrencies. SHIB has lost a substantial portion of its value in recent months. As a result, its total market capitalization, which exceeded $40 billion at its peak, was below $5 billion by mid-June of 2022.
The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. Andy Rosen covers cryptocurrency investing and alternative assets for NerdWallet. He has more than 15 years of experience as a reporter and editor covering business, government, law enforcement and the intersection between money and ideas. In these roles, Andy has seen cryptocurrency develop from an experimental dark-web technology into an accepted part of the global financial system. For example, on the Summary page, investors can see SHIB’s current price, performance charting, supply, market cap, and trading volume, as well recent analysis and relevant news.
If you want to invest in cryptocurrency—but are looking for other options for Shiba Inu or individual coins—consider exchange-traded funds . There are now Bitcoin ETFs and funds that invest in blockchain companies. There are now Bitcoin ETFs and funds that invest inblockchaincompanies. Simply use the widget on this web page to buy Shiba Inu coin with a credit card.
However, be careful using a credit card, as high-interest rates can worsen your losses in the event of a market downturn. Also, pay attention to the fees your exchange charges for moving money into your account. If you own cryptocurrency, you’ll have more options for buying Shiba Inu. While some centralized exchanges allow trades involving SHIB and other cryptocurrencies, it is available through many decentralized exchanges such as Uniswap.
Its popularity is only rivaled by the Yuga Labs NFT collection Bored Ape Yacht Club, especially with its massive Shiba army promoting the coin on various socials. And if you’re trying to convert your stash of SHIB into Dogecoin. Sign up and we’ll send you Nerdy articles about the money topics that matter most to you along with other ways to help you get more from your money. Cryptocurrency is famously volatile, and SHIB is no different.
Is it worth buying Shiba Inu coin (SHIB) now?
Transfer fiat currency from your bank account to Binance, and then use the amount to buy Shiba Inu . Your Binance account acts as a gateway into buying crypto. But before you can buy Shiba Inu , you’ll need to open an account and verify your identification. Buy Shiba Inu instantly with a credit or debit card, bank transfer, Apple Pay, Google Pay,and more.
Our multi-tier & multi-cluster system architecture and SAFU insurance fund protect your account. Binance’s world-class matching engine supports up to 1,400,000 orders per second. This ensures that your crypto trading experience is quick and reliable.
What You Need To Open a Cryptocurrency Exchange Account
You have 1 minute to confirm your order at the current price. After 1 minute, your order will be recalculated based on the current market price. There are multiple options for third-party payment channels.
Today, SHIB ranks among the top 15 cryptos based on market capitalization. If you’re ready to join the SHIB Army, here’s how to buy Shiba Inu. Today, SHIB ranks among the top 15cryptosbased on market capitalization. Now that you bought your crypto, you can store it in your personal crypto wallet or simply hold it in your Binance account.
Buy Shiba Inu
You can also trade for other crypto or stake it on Binance Earn for passive income. If you would like to trade your Shiba Inu to a decentralized exchange you may want to check Trust Wallet which supports millions of assets and blockchains. Another way you can earn is by burning your tokens on the Shibaswap portal. Burning means removing cryptocurrencies from circulation, reducing the total supply in the process. When you burn your Shiba Inu, you get rewarded with another token in the Shiba ecosystem. The primary way to earn with Shiba Inu is to stake your coins.
For investors who have done the research and are interested in pursuing a potential investment in Shiba Inu, this report outlines the steps to do it. A cryptocurrency wallet is a software program that stores your cryptocurrency keys and lets you access your coins. Traders or investors can make money through price speculation. Holders can use it as a payment method for real-life commodities at accepted retail outlets and/or to buy Shiboshi NFTs on the Shiba ecosystem. Advanced users can use their existing Shiba Inu tokens at liquidity pools to gain rewards. Most cryptocurrency exchanges, especially centralized ones, will require you to fill out personal information before accessing its full features.
These exchanges save you the stress of waiting for orders as they have better liquidity resources. Centralized exchanges also allow you to save and earn crypto. Investing in cryptocurrencies, decentralized finance , and other initial coin offerings is highly risky and speculative, and the markets can be extremely volatile. Consult with a qualified professional before making any financial decisions.
Shiba Inu is one of thousands of cryptocurrencies that are publicly traded today, as others continue to come on the market. Examples of popular, more widely traded cryptocurrencies include Bitcoin (BTC-USD), or altcoin options, such as Ethereum (ETH-USD), Litecoin (LTC-USD), and Solana (SOL-USD). Digital currencies are types of currencies that you cannot touch or feel. Unlike conventional currencies, they only exist virtually.
Within a few minutes, the SHIB will be deposited into your account or your crypto wallet, and your payment will be deducted from your balance. NerdWallet’s ratings are determined by our editorial team. This means it does not support crypto mining like Dogecoin, which is built on a proof-of-work blockchain similar to Bitcoin. While the technical details of this can be complex, the upshot for most everyday users is that you can “stake” SHIB and earn more tokens as a reward. Like crypto stalwart Dogecoin, Shiba Inu was inspired by the popular “Doge” meme — a widely circulated picture of a shiba inu dog.