Shiba Inu is an innovative cryptocurrency that was created by a Japanese company called Shiba Inu Coin. The coin has been designed to provide a safe and secure way for people to invest in cryptocurrencies.
Shiba Inu Coin is a new type of cryptocurrency that allows investors to buy and sell coins without having to worry about volatility. It also offers a unique feature that makes it different from other cryptocurrencies, which we shall discuss later. Right now, let us jump staright into how you can buy SHIBA INU on Binance.
A quick guide on buying SHIBA token
Now that you have brief information about the token, we would like to go ahead and tell you how you can buy it. Purchasing SHIB tokens is very easy and we are going to show you how to do that on Binance. At the same time, it should be noted that you cant buy the SHIB in USD. On that note, we will show you how to do so with PayPal and with a credit/debit card.
a) Create an account on Binance
It will only take you a few minutes to create a new account on Binance. You must provide your email address or phone number to do so. After you have activated your account, you can go ahead and log in. If you already have an account with Binance, then you will simply need to log in.
b) Purchase a wallet
Crypto wallets are designed to protect your funds, keeping them private and safe. Because of that, they offer high levels of security and they are also extremely easy to access. If you don’t feel like purchasing a wallet, you can still keep your tokens on the exchange.
c) Purchase Bitcoin
Because buying SHIB with USD is not possible, you will have to buy bitcoin first. Therefore, make sure you make a deposit into your Binance account. You can do so through various ways that include:
- Credit card
- Debit card
- Bank transfer
- Paypal
d) Purchase SHIB
Now that you have your bitcoin balance in your account, you can go ahead and buy your token. You should offer to swap your bitcoin for SHIB. Make sure you verify the purchase details before confirming your purchase. At this point, you will receive your tokens in your account successfully.
At this point, you can choose to transfer your funds to your secure wallet (which you purchased in the second step) or keep them on Binance.
Exchanges to buy SHIB
Binance
Binance has been dominating the scene. One of the biggest advantages offered by Binance is that of lower fees. Exchanges charge little while users enjoy high liquidity charts that make possible instantaneous purchases and selling in a moving market.
Luckily, many countries across the world allow Binance operation on THORChain, these include Australia, Singapore, and the UK while those from the USA are barred. Though Binance is barred from the USA, it still maintains large customer bases in many countries across the world and it looks highly probable that it will grow so huge to disband any form of competition.
Step-by-step Buying Guide
- Create an account
- Complete KYC process
- Add funds to your wallet
- Buy your crypto
eToroX
This platform was launched in 2007 and has grown to be one of the most trusted brokers due to its safety and security. Recently, it started offering cryptocurrency trading and most traders prefer it due to its user-friendliness.
Step-by-step Buying Guide
- Sign up for an account at eToro
- Verify your account
- Fund your account
- Buy your coin
Crypto.com
This exchange is about 5 years old, having been launched in 2016. However, in such a short space of time, it has managed to gain a great reputation and become a trusted platform worldwide. On the platform, you will be able to trade cryptocurrencies conveniently due to the various services on offer.
On the platform, you can buy 100+ cryptos at true cost. Not only that, but you will also be able to manage your visa card offered by the platform, earn interest on your crypto, make crypto payments, and so much more. Another great feature is that the company has a non-custodial DeFi wallet. As a result, you retain full control of your private keys.
Step-by-Step Buying Guide
- Sign up on the platform and provide your ID and selfie for verification
- Fund your account
- Tap on the Trade button
- Click Buy, and then your chosen crypto. This lets you choose your preferred coin
- Add your card and follow the secure link provided
Coinbase
Next is Coinbase. By purchasing either bitcoin or ethereum, you are actually setting a good Coinbase takeoff. Coinbase, just like Binance, is one of the bigger and more dominating exchanges on cryptocurrency. An extra package of $10 worth of bitcoin is as a result of purchasing $100 cryptos. To kick-off, insert your email. Account verification is the best because you should use your name. Set a strong password to guarantee safety.
After inserting an email, confirmation will come instantly. Take note, the confirmation contains a link that has a mobile number. 2FA, a two-way authentication process should be used. It is very efficient and has good security measures. Make sure that this feature is always on to ensure long-lasting security.
Verification should be opted for in the next step. Never mind the daunting process, it is just a procedure but it’s just part and parcel of the asset claiming process. Luckily, Coinbase customers are guaranteed safety because it is regulated in the US, UK, and EU. Expect sheer automation and good functionality, all the transactions are automatic meaning customers should not wait for more than 15 minutes.
Step-by-step Buying Guide
- Sign up or sign into Coinbase
- On the upper right-hand side, select buy
- Choose your token/coin from the list of option
- Specify the amount that you want to buy
- Preview the transaction and confirm purchase
- Click Buy to complete your transaction
WhiteBIT
WhiteBit is an innovative cryptocurrency trading platform that allows traders to trade cryptocurrencies without having to deposit funds into their accounts. WhiteBit offers a wide range of features including margin trading, instant deposits and withdrawals, and 24/7 customer support.
WhiteBit is a new type of cryptocurrency exchange that has been designed to provide its customers with a safe and secure environment where they can buy, sell, and trade cryptocurrencies.
Step-by-Step Buying Guide
- Sign up for an account and verify it
- Make a deposit and purchase bitcoin or Ethereum
- Convert your base crypto to your preferred token
TokoCrypto
This crypto platform has a sincere desire to satisfy the needs of the user. At every point in time, the platform provides services to make the user experience a favorable one. The platform’s major focus is buying and trading cryptos.
Tokocripto ensures that the entire process of buying and selling cryptos is simplified in such a way that even novices can understand and navigate the system successfully. To cater to everyone, the exchange accepts several tokens.
Step-by-Step Buying Guide
- Create a new account and provide all required information
- Fund your account with fiat currency
- Convert your fiat to BTC
- Trade BTC for your desired token
How the Shiba Inu project is different
Of course, it should be noted that this token works much like the others on the market. However, it carries some unique features that make it special. Below, we look at those aspects that make it stand out from the rest.
Margin Trading Protocol
Using these tokens helps with creating leverage and margin when it comes to down-trending price movements. In fact, you will find out that by becoming a long trading position client, you will get to benefit from low-risk collateral loans.
At the same time, every user of this token can get ERC-20 tokens, as well as benefit from a reasonable margin.
Options Protocol
With these tokens, you can easily speculate and manage risk. This is because as a trader, you can trade ERC-20 tokens. Because of that, you are guaranteed ease of trade.
Things to consider before buying SHIB
As you may have seen from the above, buying these tokens is extremely easy. however, the same cant be said about deciding to buy or not. This is because the markets are forever changing, making the decision even harder. Below, we share the things that you should look at before you buy.
1. Don’t just rush to buy tokens
The very first thing that you should do is do your thorough research. Remember, this is a money matter and so, should never be taken lightly. To avoid losses, extra research is necessary. Find out what the token is about and how it can give you margin.
2. Use reputable exchanges
An exchange’s reputation is just as important as everything else. In fact, you would no9t want to use an exchange that is dubious and will charge you ridiculously high fees. Therefore, make sure that you make use of a reputable exchange that has been around for some time, garnering a great reputation. Binance is such an exchange.
3. Check for the men behind the making
Always make sure that you find out more information about the creators of the exchange. This also applies to the creators of the token. This ensures that the service providers are not anonymous, which guarantees you safety.
Where to store SHIB token
There is really no point buying tokens if you are going to lose them to hackers online. That is why you need to store them safely. Fortunately, there are various options that are available for you to use. Each of those options has unique features and so, you must choose one that suits your needs. Below, we discuss the most common methods of storing tokens.
i. Cold wallets
If you are planning to store your tokens for a long time, then this is the best option. With this option, you can stop hackers in their tracks since the wallets are operated offline. Because they are offline, users are guaranteed private key protection, strong encryption, and durability.
Because of the tight security offered by hardware wallets, you should be prepared to pay a hefty sum, although it’s worth it. At the same time, we suggest that you only buy your cold wallets from producers that are registered and are reputable.
ii. Hot wallets
As you might have guessed, cold wallets operate online, unlike cold wallets. If you are planning to store your tokens for a short period, or are actively trading them, then you may choose this option. This is because they guarantee convenience and flexibility as they can easily be accessed, and you get rid of hefty fees.
These wallets may include exchange-based and cloud-based wallets. Because of that, they are at high risk of being hacked.
Privacy and security tips
For ultimate assets protection, we suggest that you take the following steps:
i. Spread the risk
There is a lot of risks that are involved with trading. Therefore, it makes sense to spread the risk. To do that, we suggest that you use various wallets for your tokens. That means you can choose to use both cold and hot wallets to store your SHIB. That way, you minimize loss.
ii. Avoid Phishing
Hackers are making use of various tactics to steal from you. Therefore, make sure that you never click on any pop-up links, messages, or notifications. Also, don’t click on links in certain email messages as these may be used to pass a virus into your device and access your credentials.
iii. Use a secured network
Data protection is of uttermost importance and the only way to ensure it is through using a secured network. Doing this helps keep your wallet details and personal account safe.
iv. Do not share passwords
You should always keep your passwords separately and desist from using the same password for all your accounts. Additionally, you should never share your passwords with anyone, or give anyone else access.
F.A.Qs
When was SHIBA INU launched?
This company was first launched in August of 2020.
Is SHIBA INU legit?
Yes, it is legit. In fact, you will be able to trade and invest in SHIB on various major crypto exchanges online.
Can I buy SHIB using USD?
No, you are not able to do that. What you must do, instead, is buy Bitcoin first and then trade that for SHIB.
Conclusion
SHIBA INU hopes to surpass Dogecoin and all we can do for now is what and see if that will happen. Still, the native token has managed to surpass expectations and is gaining a great reputation gradually.
