SHIB has gained a lot of ground following it’s recent performance and a lot of people have shown their interest in knowing how to buy Shiba Inu coin. In this guide I am going to show you how you can buy the coin without stress.
This guide will not only show you how to buy SHIB alone, it will also direct you on the best time bro buy the coin this will prevent you from massive loss while trying not to Miss out on the Coin.
I fully understand that the sudden increase on the request if how to buy Shiba Inu coin and where to buy the coin is due the FOMO(fear of missing out) and in other to save you from the negative effect of the FOMO, I have decided to publish this guide in other to direct you on how, where and when to buy Shiba Inu.
Table of Contents
What Is Shiba Inu Coin (SHIB)
Shiba Inu coin (SHIB) is a meme-base cryptocurrency named after a dog breed. SHIB was created in 2020 by an anonymous developer called Ryoshi as part of a group of dog-themed cryptocurrencies.
SHIB is an ERC-20 token and is currently transitioning to a Proof of Stake consensus mechanism. The SHIB ecosystem consists of a decentralized exchange called ShibaSwap. It also supports an NFT art incubator that invites dog-inspired artists around the world to bring their Shiba Inus into the NFT market.
SHIB has a total supply of 1 quadrillion and it’s ranking in number 8 on coinmarketcap as at the moment of writing this guide.
Where To Buy Shiba Coin
Our main focus in this guide is to show you how to buy Shiba Inu coin and before you proceed to buy the coin, you must know where to buy the coin first, this will enable you to know if you have all it takes to get the coin in one click or you will need to download a specific app to be able to buy the coin.
SHIB has been listed on more than 70 exchangers with up to 100 (one hundred pairs), this makes the buying of the coin and easy task and you with be able to get it in just few clicks.
As at the moment of writing this guide, Shiba Inu has been listed on Binance, Hotbit, Coinbase exchange, Huobi Global, KuCoin, Gate.io, Uniswap, poloniex, Wazirix, Probit Global, Digifinex and many others.
In this guide, I am going show you how to buy Shiba Coin on binance, hotbit trust wallet and KuCoin. With the step by step guide on how to buy SHIB on the aforementioned platforms you will be able to buy it on others too, following the same steps.
What Is The Best Time To Buy Shiba Inu Coin
This is the most important step that you must not skip if you’re willing to buy Shiba coin and don’t want to loose your money.
The fact that Shiba is doing Wonder at the present moment is not negotiable and the fear of missing out might leads you to loosing your money if care is not taken.
Shiba is a good investment yes! But regardless, you must know how it works before you buy the Coin. Even big it’s a physical business, no matter how lucrative the business is, if you didn’t have full knowledge of how it works, you will loose your capital while other that knows how it works keep cashing out.
To determine the best time to buy SHIB, you must put two things into consideration and this two things are: The risk involved and the market condition.
Risk Involved In Buying Shiba
What you should firstly look out for while trying to buy a coin is the risk involved and this can be found in the white paper of that coin and other related documentation.
Token like SHIB are primarily community-based, meaning their success is largely dependent on the success and growth of its community instead of its utility,” says Boneparth, who has invested in bitcoin since 2014. And also, Ryoshi calls shiba inu an “experiment in decentralized spontaneous community building” in its white paper.
Cryptocurrency experts also warn that any cryptocurrency investment can result in the loss of your entire investment. They generally recommend that you only invest what you can afford to lose, regardless of which cryptocurrency you choose.
Knowing the risk involved we help you to prepare your mind for the worst that can happen either now or later. Also, you will be able to decide if you buying the coin to hold it for short time or a very long time.
We have also provide you with a detailed technical analysis on Shiba inu coin, you can check it out to see how the coin future looks like and if it’s a good investment or not.
Having known the risk involved, the next thing is to determine th market condition before you enter.
What Are The Market Conditions?
Market conditions are how the marketing is behaving when you’re about to enter, you must know the best time to enter the market. The primary Requirement in doing this is to determine the market trend, is it bullish or bearish, uptrending or downtrending.
If you can know that, then, you will be able bro enter the market appropriately.
No matter which coin you want to buy, don’t buy when the coin is pumping. This is where the fear of missing out comes in, and when a Coin start pumping so hard, everyone will want bro benefit from it and many will think that it will continue going like that.
But no, once a coin pump, it’s a must that it dip too, at the moment it keeps rising, a lot of people are getting ready to exit the market already and this will makes the market to dump on you.
Hence, whenever a coin is pumping and you would like to buy, always wait for dip or pull back before you enter, or else you’re an expert that knows technical analysis very well.
Do not buy when others are selling, the green candles are for you to take profit while the red candles are for you to enter the market and wait for a bullish trend.
How To Buy Shiba Inu Coin
Now that you have fully understand where and when to buy Shiba coin, let me show you the detailed information on how to buy Shiba Inu coin.
This will gives you the opportunity to buy the Coin by yourself and take all the responsibilities of the risk you have decided to take.
As it has been stated in the previous part of this guide, I will show you how to buy SHIB on Trustwallet, binance, hotbit and KuCoin.
How To Fund Your Wallet
If you’re not using trustwallet and wants to use binance and other exchange, you might find it difficult to deposit as Nigeria government has restrict the direct deposit into any other crypto exchange.
However, all the aforementioned wallets have provide a solution by introducing P2P(peer to peer) trading. But if you have not been using the P2P before, simply use the means you understand best to buy any cryptocurrency, like Doge, Tron, USDT or anyone that is convenient for you.
Transfer it to the wallet you want to use, convert it to the available pairs and use it to buy your Shiba coin within stress.
How To Buy Shiba Inu Coin On Trust Wallet (Uniswap)
I will be showing you how to buy the coin on Trustwallet first, this is because, trust wallet is used by a lot of people and also, it has different method of buying Shiba coin as compared to exchange market system.
Kindly follow the step by step instructions on how to buy Shiba Inu coin on trust wallet shown below;
1. Fund your trust wallet app with Ethereum or USDT. If you want to fund the wallet with USDT, make sure you used ERC-20 network, this is because, the network we are dealing with is a ERC-20 network.
2. Check the bottom of your Trustwallet an Locate dapp, Click on the dapp and you trust wallet dap browser will open, locate Uniswap and click on it.
3. You will be told to connect your wallet, connect it and at the Uniswap homepage, you will see two rectangular boxes, one at the top and the other one at the bottom.
4. Click on the on at the top and enter the coin that is available to n your wallet with which you intend to Swap for SHIB.
5. Go to coinmarketcap to copy the contract address of SHIB. If you don’t know how to copy Contract Address of a token, simply watch the video below, it explains in details, how to copy Contract Address of a coin/token.
6. Click on the second rectangular box and you will see a search box, paste the contract address into the search box, it will bring SHIB for you, click on it and you will be taken back to the homepage.
7. Edit the amount at the top and enter the amount you want to swap, for example, if you have 0.05ETH and wants to get Shiba Inu coin worth of 0.015ETH, simply enter 0.025 at the top and the amount of SHIB you will receive will be shown to you.
8. Click on the swap button and confirm the transaction.
9. The specified amount of SHIB will be credited into your Trustwallet and that’s all, you have purchased Shiba Inu coin on trust wallet successfully.
10. You can decide to send it out or store it there, depending on the purpose your buy it for.
How To Buy Shiba Inu Coin On Binance
To buy Shiba Inu Coin on binance, simply download binance app by clicking on the highlighted text. Install the app and register for an account with your preferred email and phone number.
Verify your binance Account will a valid identification card and once your verification is approved, simply fund your binance Account as instructed in the previous part of this guide.
Open your binance app and click on market at the bottom of the app, you will be redirected to another page, click on spot and type SHIB into the search box at the top of the page.
List of available pairs will be displayed to you, click on your preferred pairs, for example, SHIB/USDT.
On the following page, you will see buy and sell button, click on buy, enter the amount of SHIB you and to buy and follow the prompts to comply the transaction.
That’s all on how to purchase Shiba Inu coin on binance, you can now decide to send it out or store it.
How To Buy Shiba Inu Coin On HotBit
All you have to do is to download hotbit app via the highlighted text and install the app on your mobile phone.
Open the app and register with your phone number and email address, confirm your email address, phone number and other required verification.
Fund your hotbit wallet using the instruction outlined in tbe wallet finding section of this guide, once the fund is available in your hotbit account, simply go to the app home menu.
Check the bottom of the app and click on market and you will see SHIB directly, or click on the search icon at the top right corner and search for SHIB.
Click on the SHIB and you will see all the available pairs, select the one that is compatible with the asset you have, for example, if you have USDT, you will select SHIB/USDT.
On the next page, you will see two button, buy and sell respectively. Click on buy and follow the prompts to complete the transaction.
How To Buy Shiba Inu Coin On KuCoin
You can also buy SHIB on Kucoin and there is only one pair on KuCoin, which is SHIB/USDT.
All you have to do is to download KuCoin app and install it on your mobile phone, open the app and register for an account, do all the required verification and fund your KuCoin wallet with the amount equivalent to the amount of Shiba inu coin that you want to buy.
Click on the market button at the bottom of the app and search for SHIB on the next screen, click on the result and you will see the buy and sell button. Click on buy, enter the amount of Shiba coin you want to buy and follow the prompts to complete the transaction.
You have successfully purchased Shiba coin and you can now check your KuCoin wallet for the asset. For More clarification on how to buy Shiba coin, simply watch the video below:
With the detailed information provided in this guide, you should have fully understand all the factors to put into consideration before buying Shiba coin, the risk involved, where to buy and how to buy Shiba inu coin without any form of stress.