How To Buy Shiba Inu: Easy 5 Steps Guide

How To Buy Shiba Inu: Easy 5 Steps Guide
How To Buy Shiba Inu (SHIB)

The early rise of meme tokens unleashed a controversy that has existed for years. Like Dogecoin, Shiba Inu (SHIB) went down in history as one of the cryptocurrencies with the fastest-growing community. If you're interested in buying or trading Shiba Inu (SHIB) but are unsure of where to start, you can learn how to buy Shiba Inu (SHIB) through our comprehensive guide.

Where To Buy Shiba Inu?

Some of the most popular exchanges to buy SHIB include Binance, Coinbase, KuCoin, and Kraken. When choosing an exchange to purchase SHIB, it's essential to consider factors such as fees, security, user interface and supported payment methods. It's also important to note that some exchanges may only be available in some countries or regions.

Step-By-Step Guide On How To Buy Shiba Inu:

Follow the below steps to buy Shiba Inu using the Binance exchange.

Step 1: Register for a Binance account

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The first step is to register for a Binance account; if you already have a Binance account, you can skip this step.

To register, visit the Binance website and click on the "Register" button at the top right-hand corner of the page. You will then be prompted to enter your email address and create a password. You can also use the main sign-up with an email or phone option.

After completing this step, you will receive an email confirmation from Binance.

Create an account using your personal phone number or email address on Binance. Registering as an entity if you want to buy Shiba Inu as a Limited company business on the Binance exchange is also an option.

Step 2: Verify your identity on Binance

Before you can buy SHIB on Binance, you will need to verify your identity. To do this, click the "Profile" button on the top right-hand corner of the page and select "Identity Verification."

Follow the instructions provided by Binance to complete the verification process.

To complete your Binance registration process and start buying crypto on the Binance platform, you must submit a valid government-issued passport or Driving license based on your country of residence.

Step 3: Buy SHIB

There are numerous ways to buy Shiba Inu on the Binance exchange, and it all comes down to your preference. We will explore some popular methods to buy Shiba Inu on Binance.

Option 1: Fund your Binance account with crypto

This method is helpful for anyone who owns crypto on other platforms or wallets. Once you have transferred your Bitcoin to a Binance account, you can buy Shiba Inu with Bitcoin as Binance supports trading BTC/SHIB pair.

After verifying your identity, you can fund your Binance account with crypto. To do this, click the "Deposit" button on the top right-hand corner of the page. You will then be prompted to select the cryptocurrency you want to deposit. Select the cryptocurrency you wish to deposit and follow the instructions provided by Binance. Once your cryptocurrency has been deposited, you can proceed to buy SHIB.

On the deposit Crypto page, choose the crypto (in this case, we selected bitcoin) and its network. Binance will generate a bitcoin address to deposit your BTC. Copy the deposit address and initiate a withdrawal on the withdrawal platform. Once the transaction is confirmed, Binance will credit the crypto.

Convert Bitcoin Crypto to Shiba Inu (SHIB)

After transferring your crypto Binance account, hover over the Trade menu at the top menubar and click on Binance Convert, where you can convert your crypto to SHIB.

Buy Shiba Inu With Binance Convert

There are two ways to convert your crypto to SHIB: Market order or Limit order.

Buying SHIB with market order: Market order allows you to convert your assets at the current market price based on the quoted price in the conversion.

Buying SHIB with limit order: A limit order allows you to place an order to convert your assets at a specified limit price. However, limit orders are executed subject to market conditions and may not be completed even if the market price reaches or crosses your limit price momentarily.

How To Buy Shiba Inu On Binance

The above screenshot shows an example of placing a limit order to buy Shiba Inu using BNB. You can click on the bars icon next to the limit button to display the price chart of your selected crypto convert pair. Click on Confirm order to get 900 SHIB tokens into your account.

Congrats! You have now bought Shiba Inu by funding your Binance account with crypto and using Binance Convert.

Option 2: Fund your Binance account with Fiat

This option will benefit you if you prefer to fund your account with your preferred fiat currency beforehand. Customers can fund their Binance account with fiat currency via direct bank transfer or credit/debit card.

When using the Bank transfer method to fund your account, make sure to follow the below tips:

Your bank account name must match the name registered to your Binance account.

Please include your full name in your bank transfer's Reference/Remark section.

If the deposited amount exceeds your daily limit, Binance will divide the total payment based on your maximum daily limit.

After funding the account with fiat currency, it will be stored as your cash balance on the Binance account. Using the deposited fiat currency, you can now buy crypto using the buy crypto with Cash Balance tool.

Buy Shiba Inu With Cash Balance

As shown above, buy Shiba Inu immediately with your preferred fiat currency! You will get an estimated price of SHIB based on the currency of choice, and you enter the desired amount of SHIB to buy and confirm the order.

Congrats! You have now bought SHIB by funding your Binance account with fiat currency and using a Binance Cash balance.

Option 3: Buy Shiba Inu with a Credit/Debit Card (Popular method to buy Shiba Inu)

To buy SHIB on Binance using a Credit or Debit card, navigate to the Buy crypto via card page using the top navigation menu.

Buy Shiba Inu With a Card

On the buy crypto with card page, you will see various options to choose the fiat currency to buy Shiba Inu. Enter the desired amount of SHIB tokens to purchase and click Continue.

Buy SHIB With a Card

In the payment method section, if you just created your Binance account, add the card details you will use to purchase SHIB.

Once you have entered the card details, you must review the order details to ensure they are correct. If everything looks good, click the "Buy SHIB" button to complete the purchase.

Congrats! You have now bought SHIB by funding with your Credit/Debit card!

Recurring Plan

Alternatively, you have the choice to buy Shiba Inu on a recurring basis.

Buy SHIB With Recurring Plan

The recurring model typically allows you to regularly invest in cryptocurrency with a pre-determined amount and accumulate your crypto holdings over time. If you are committed to the long-term growth of a coin/token and bullish on its future price movements, it is an excellent way to DCA into the project.

Step 4: Buy Shiba Inu - Payment Methods

Buy Shiba Inu with Paypal: Binance does not currently support purchasing Shiba Inu (SHIB) directly with PayPal. However, you can still use PayPal to buy cryptocurrencies on other platforms and then transfer those funds to your Binance account to purchase Shiba Inu. Other exchanges, such as Coinbase support Paypal payment methods to buy crypto. If you have an existing PayPal account, you can start transactions on Coinbase immediately.

Buy Shiba Inu with a credit card on Binance exchange: To Add a credit card, Go to the "Buy Crypto" page on Binance and select "Credit/Debit Card." Follow the prompts to add your credit card details.

Buy Shiba Inu with Debit Card: To Add a debit card: Go to the "Buy Crypto" page on Binance and select "Credit/Debit Card." Follow the prompts to add your debit card details.

How to Buy Shiba Inu with Apple Pay and Google Pay on Binance

The following steps will guide you through how to buy Shiba Inu using Apple Pay & Google Pay.

  1. Log in to your Binance account and click Buy Crypto with Credit/Debit Card.

2. Select the fiat currency according to your country and then select Shiba Inu crypto to buy from the list. Enter the amount and click Continue.

Buy Shiba Inu With Apple Pay Or Google Pay

3. Select Apple Pay or Google Pay as the payment method after choosing SHIB to Buy.

4. Once you have successfully added/chosen your credit/debit card, click Confirm to proceed. Check the payment details carefully and confirm your order within 1 minute, or else after the 1-minute mark, the price and the amount of crypto will be recalculated. You can click Refresh to see the latest market price.

Congrats! You have now bought Shiba Inu on Binance using your preferred Google or Apple pay.

Step 5: Withdraw SHIB from Binance

After buying SHIB on Binance, withdraw it to a hard or soft wallet you control. To do this, click the "Withdraw" button on the top right-hand corner of the page. You will then be prompted to enter the wallet address to which you want to withdraw your SHIB. Ensure you enter the correct address, as transactions on the blockchain are irreversible.

You must also enter the amount of SHIB you want to withdraw. Once you have entered the correct wallet address and the amount of SHIB you wish to withdraw, click on the "Submit" button. Binance will then process your withdrawal request, and your SHIB will be sent to the wallet address you provided.

Tips for buying SHIB on Binance

  1. Always double-check your order details before placing a trade to ensure everything is correct.
  2. Consider using the "Limit" order type instead of the "Market" one when buying SHIB. With a limit order, you can set the price you are willing to pay for SHIB, whereas, with a market order, you will pay the current market price for SHIB, which may not be the best price.
  3. Consider using two-factor authentication (2FA) to enhance security after registration.

10 Reasons To Buy Shiba Inu Right Now

Should I buy Shiba Inu? If you are considering whether you should buy Shiba Inu or not, then the below points may provide some clarity about the project.

  1. Potential for high returns: Historical data indicated that Shiba Inu saw significant gains in value. This fact could indicate the potential for high returns on investment.
  2. Low cost: Shiba Inu has a very low price per coin, which makes it highly accessible to people of all investment budgets.
  3. Community-driven project: Shiba Inu has a strong and dedicated community of supporters who are actively working to promote and improve the coin.
  4. Large supply: Shiba Inu has a large supply of coins, which means that it may be more accessible for small investors who are looking to buy a larger number of coins.
  5. Widespread listings: Shiba Inu is listed on several major cryptocurrency exchanges, which means that it is easy to buy and sell.
  6. Meme appeal: Shiba Inu has fun and playful branding. In the world of crypto, sometimes, everything you need is some sense of humor.
  7. Low market cap: Shiba Inu has a relatively low market capitalization compared to other cryptocurrencies, which could indicate the potential for growth in the future.
  8. Deflationary: Shiba Inu has a deflationary supply model, which means that the number of coins in circulation will decrease over time.
  9. Meaningful purpose: Shiba Inu has pledged to support dog-related charities and organizations, which may appeal to some investors who want to invest in a coin with a charitable purpose.
  10. High trading volume: Shiba Inu has a high trading volume, which means that it is popular and actively traded on cryptocurrency exchanges.

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Looking to buy Crypto on Binance? Checkout our other guides:
How to buy Cardano
How to buy Avax
How to buy Stellar

How to buy SHIB in the Philippines?

Choose a cryptocurrency exchange that supports SHIB trading. Binance is one of the best places to buy SHIB in the Philippines. Binance is also one of the cheapest ways to buy SHIB in the Philippines.

How to buy SHIB in India?

Binance is one of the best places to buy SHIB in India. Binance is also one of the cheapest ways to buy SHIB.

Where to buy SHIB in the UK?

Choose a cryptocurrency exchange that supports SHIB trading. Binance is one of the best places to buy SHIB in the UK.

How to buy SHIB in Australia?

Binance is one of the best places to buy SHIB in Australia. Binance is also one of the cheapest ways to buy SHIB.

How to buy SHIB in Brazil?

Choose a cryptocurrency exchange that supports SHIB trading. Binance is one of the best places to buy SHIB in Brazil.

Where to buy SHIB in the US?

Choose a cryptocurrency exchange that supports SHIB trading. Coinbase is one of the best places to buy SHIB in the US.

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