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Crypto

How To Buy Shiba Inu Coin (Step by Step guide)

Amongst other cryptocurrencies, the Shiba Inu(SHIB) is said to be a meme coin designed to kill Dogecoin.

The Shiba Inu was produced in 2020 by the Ryoshi group. In this article, I will be giving the market statistics of the Shiba Inu coin and a guide on How To Buy Shiba Inu Coin

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About Shiba Inu Coin

How To Buy Shiba Inu Coin

SHIB is a meme-based cryptocurrency named after a dog breed in China. It was created in August 2020 by a group of people named Ryoshi.

Shiba Inu is an Ethereum-based alternative coin to Dogecoin and some even tag it as The Dogecoin Killer.

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Shiba Inu was launched as a direct competitor of Dogecoin as a joke. Both Shiba Inu and Dogecoin come under the category of meme coin. The meme coin originated from a 2013 meme featuring the Japanese breed dog of the same name.

In October, the Shiba Inu price escalated giving it a market capitalization of $35 billion, Ranking top ten cryptocurrencies.

The crypto market is never stable and as a result of the fall in market value, the cryptocurrency market dropped all value.

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Shiba Inu started dropping in November after it overtook Dogecoin and became the ninth most valuable crypto.

Despite the recent fall, Shiba Inu’s price is still 67,000% higher than it was a year ago.

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Unlike Dogecoin, Shiba Inu is compatible with the Ethereum ecosystem

Shiba Inu was created with a total supply of 1 quadrillion so investors can hold a large amount of up to a 100billion Shiba pieces in their wallets.

Recently, the token has developed into the ecosystem called ShibSwap(a localized exchange on the Ethereum network). It is said that the Shiba Inu has two token siblings – Bone and Leash.

How Much Is Shiba Inu Coin

Since the downfall of the Shiba Inu coin, it hasn’t been able to reach its peak of $36 billion in October.

As you may know, in the crypto market there is not a certain price as it fluctuates.

As of 12 Jan 2022, the Shiba Inu price is $0.00002852 I will be giving a list of Shiba Inu Market statistics below for clarification

  • SHIB Price           –        $0.00002852
  • Market Cap. Dominance     –     0.74%
  • Market Cap.         –        $15,666,489,422
  • Trading volume    –        $771,316,565
  • Market Cap. Rank  –       #14
  • Volume/market Cap.   –   0.0491
  • All-time Highest     –    $0.00008616(Oct. 2021)
  • All-time lowest      –     $0.000000000056(Nov,                                                              
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                                                   2020)

  • 24hrs low               –      $0.00002662
  • 24hrs high             –       $0.00002880
  • 7days low              –      $0.00002649
  • 7days high             –      $0.00003302

Where To Buy Shiba Inu Coin

There are many platforms where cryptocurrencies are being traded recently. Some are easy to access and some are slightly difficult but not to worry I will be giving a guideline on how to purchase the crypto. To purchase the Shiba Inu coin, you will need to credit your wallet with USDT

Below are some platforms where Shiba Inu can be purchased:

Coinbase

Getting your SHIB coin on coinbase wallet isn’t too stressful if you already have the wallet app and have purchased your USDT, 

  • Search for Shiba Inu in the search box.
  • When you see it then you proceed to the purchase screen.
  • Then you input the amount you want to spend buying the Shina Inu from your balance.
  • Then you tap PREVIEW BUY.
  • The details of your purchase will be displayed then you tap confirm. And that’s it. You have successfully purchased the Shiba Inu coin.

if you wish to download the coinbase app, click here to DOWNLOAD 

Kucoin

Kucoin is one of the easiest platforms to purchase the Shiba Inu coin just follow the procedures I will be listing below. 

To purchase the shib coin, you’d have to download the kucoin app then follow this process. 

Also, before you would be able to purchase the Shiba Inu, you’d have to purchase something called the USDT(tether). These are the steps to getting your USDT.

  1. Sign in to your kucoin account.
  2. Click on the BUY CRYPTO by your left corner.
  3. Click on Credit/Debit card.
  4. Input the amount of USDT you want to purchase under I WANT TO SPEND
  5. Then you select your payment method and payment channel
  6. Tick on the disclaimer bottom, then click CONFIRM.

after some minutes you would find your USDT in your main account. And that brings us to how to purchase SHIB.

  • After accessing your main account, click on the transfer button next to the USDT to switch your USDT to your trading account.
  • Next, confirm that your USDT is in your trading account.
  • Click on markets to swap your USDT for Shiba Inu Coins.
  • On the right, type in SHIB into the search bar.
  • Click on SHIB-USDT trading pair.
  • Ten you will be prompted to select a trading password.
  • After confirming your trading password, click on the market slightly below on the right.
  • In the BUY SHIB section, you can input how much USDT you want to trade for Shiba coins in percentage. Or you can change that on the amount field.
  • Now you have to click on BUY SHIB
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And that’s how you purchase the Shiba Inu on Kucoin.

HotBit

HotBit is another crypto platform that you can buy Shiba Inu from just like the platforms listed above, I’d be listing the steps to follow below. If you already have your Hotbit app and have registered, all you need do is:

  • Credit your Hotbit wallet with USDT then go to the homepage.
  • At the bottom end, you will find the market icon which you will click and find SHIB. And if you don’t find it, you can hit the search icon at the top right corner and search for SHIB.
  • When you click on it a list of available pairs will be displayed, select the one compatible with your asset (USDT).
  • On the next page, there are two buttons BUY and SELL now you will have to click on buy.
  • Now you will input the amount you want to spend to buy and then you can go back to the homepage where you will automatically have your Shiba Inu.

Trust wallet

Unlike the above listed wallets, to buy Shiba Inu coins on a trust wallet, you will need Ethereum to swap and get the Shiba Inu. I will be giving a guide on how to go about it below.

  • Firstly you need to add the Shiba Inu to your trust wallet by clicking at the top right corner of your device, then you search for Shiba Inu. You will see a control icon there which you will turn on to add to your trust wallet.
  • After adding it, you click on the DApps at the bottom of your device and scroll till you get to Popular.
  • If you are popular, you will click on UniSwap Exchange and it will redirect you to the site where you will swap your Ethereum for Shiba.
  • Now you will select the token below by typing Shiba in the token icon and it will bring the Shiba out.
  • Now you will type in the amount of Ethereum you want to trade for the Shiba Inu coin. After that, a congratulatory message will pop-up.
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then you will go back to your trust wallet homepage and refresh and your Shiba Inu value will display.

 How To Buy Shiba Inu Coin On Binance

 How To Buy Shiba Inu Coin On Binance

Binance is one of the easiest trading platforms which you can get Shiba Inu from below are steps on how to go about it.

  • First, you have to register your account on the Binance site, enter your email ID and password. After completing the registration and verification process,
  • The next step is to go to the BUY CRYPTO tab on the left side of the screen and click on cash balance. As I said before, to buy the Shiba Inu coin, you will need to purchase a USDT.
  • On the page, you will enter the amount of money you want to deposit in exchange for USDT then click on the buy icon to complete the buying process.
  • The next step is to convert your USDT to SHIB and to do this you will have to click on the wallet icon and click on the fiat and spot tab then it will redirect crypto fiat displaying the overview of your crypto fiat balances.
  • Now you will search for Shiba Inu in the search icon. You will find the options for buy and sell there close to the bottom drop-down.
  • Now you will click on the trade drop-down box and click on SHIB/USDT.

To download the Finance app, click on this liNK and DOWNLOAD

Conclusion

Cryptocurrency is an investment platform where you can buy and sell different coins at your convenience. The crypto market is unstable as it rises and falls and that is what happens in the case of the Shiba Inu.

Most investors see this time as an opportunity to accumulate as much SHIB as they could get cause in the crypto market, except for the unthinkable.

I hope this article was helpful on how to buy Shiba Inu coin. Till I write to you again, I leave you in peace 

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Worldtecharena is a crypto blog which aggregates related news, photos, updates, web programs, related to crypto, stock and forex market and important info for our visitors. We do not offer any direct employment, or investment. we share the makret analysis with top experts for free on our blog.

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