Invest in Shiba Inu – How to Invest in Shiba Inu For Beginners

Shiba Inu is a Doge-themed meme coin created in 2020 by an entity called Ryoshi. Designed to surpass Dogecoin, Shiba Inu has been able to garner notable traction in the cryptocurrency market since its launch.

This guide is written to explain how to invest in Shiba Inu. On this page, you’ll learn the steps required to buy the coin, the risks that need to be considered, and the most suitable Shiba Inu broker for you to use.

#1 Broker to Invest in Shiba Inu – eToro

1
$50Exclusive promotion
Our score10
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
0% Commissionstart TradingOur score 10

How to Invest in Shiba Inu – Choose a Broker

As a smart investor, you’d want to purchase Shiba Inu in the most cost-effective way. In that case, you have to diligently choose a suitable broker where you will buy the token. To make this process easy, we have outlined the best places for you to invest in Shiba Inu.

  • eToro – Overall Best Place to Invest in Shiba Inu
  • Coinbase – Great Broker to Invest in Shiba Inu for Newbies
  • Binance – Best Place to Invest in Shiba Inu for Asset Diversity
  • OKEx – Invest in Shiba Inu via a Crypto Deposit
  • Capital.com – Trade Shiba Inu with Leveraged CFDs

We have provided a comprehensive review of these platforms further down in this How to Invest in Shiba Inu Guide

How to Invest in Shiba Inu – A Quick Guide For 2021

You might want to understand the crucial steps involved in buying Shiba Inu. In that case, what you need is a quickfire walkthrough. Below, we have briefly discussed how to invest in Shiba Inu using eToro — a cost-effective broker that’s regulated by multiple financial bodies.

  • Step 1: Create an Account with eToro: This is the first step in getting started with the broker. You can open an account in less than a minute by providing eToro with the required personal details and contact information. You’ll also need to decide on a username/password for your account.
  • Step 2: Upload Your ID: eToro is a regulated broker where you can make payments with fiat money. Therefore, you have to undergo a Know Your Customer (KYC) procedure to verify your identity. You can do this by uploading a copy of your ID.
  • Step 3: Deposit Funds: eToro offers you numerous options to add funds to your account. This includes debit/credit cards, Neteller, Paypal, and wire transfers.
  • Step 4: Invest in Shiba Inu: Click the search bar and enter ‘Shiba Inu.’ After the token appears, click ‘Trade’ and enter the amount you want to put behind the asset. The minimum you can enter here is $25.

Once you complete the steps above, you have successfully learned how to invest in Shiba Inu.

Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.

Where to Buy Shiba Inu – Full Broker Reviews

Worthy of note is the fact that you have hundreds of platforms through which you can invest in Shiba Inu. While this means you have numerous options, the challenge is that you cannot go through them all to determine the most suitable platform. Even if you choose to painstakingly evaluate all these brokers, you’d spend a lot of time on that task.

Therefore, our research team has examined these platforms and come up with the top places to invest in Shiba Inu.

1. eToro – Overall Best Place to Invest in Shiba Inu

bitcoin today

More than 20 million people use eToro, which is a significant indication of the broker’s reputation in the market. Following our market research, we found eToro to be the best place to invest in Shiba Inu, not least because the broker is approved across multiple jurisdictions. Some of the financial bodies regulating eToro include the SEC, ASIC, and the FCA. Ultimately, this means that you can invest in Shiba Inu without having to worry about the safety of your funds.

Furthermore, getting started on eToro takes about five minutes. You simply have to visit the broker’s website to open an account. Then make a minimum deposit of $200 ($50 if you are a US client), after which you can create a buy order to invest in Shiba Inu. An impressive thing about this broker is that you can begin your Shiba Inu investment journey with $25. This makes eToro handy for newbies who are looking to invest in Shiba Inu without spending too much. Additionally, the broker has a friendly user interface that allows you to move across the various investment steps easily.

etoro crypto

When it comes to supported markets, eToro provides you with dozens of tokens in which you can invest. Therefore, if you want to buy Shiba Inu and a few more tokens, you can choose from the 30+ digital currencies listed on eToro. Some of these tokens include Cosmos, EOS, Chainlink. Litecoin, and NEO – among others. You can invest in all of these markets through your debit/credit card. Other available options include wire transfers and e-wallets such as Apple Pay, Neteller, Skrill, Paypal, and more.

As a beginner, you’d want a broker that provides you with tools to make the investment process convenient. eToro does this through numerous features such as the copy trading tool. Millions of users on eToro take advantage of this feature to invest passively. Here, all you have to do is to choose a successful trader. Then, the broker will copy their positions and replicate them in your portfolio. Another tool on eToro is the CryptoPortfolio — which allows you to invest in several digital tokens via a single trade.

etoro copy trading

Lastly, eToro offers personal wallet services, which is a notable feature for you as a beginner in the cryptocurrency space. Leveraging the broker’s in-built wallet, you can store your Shiba Inu tokens securely. In the same manner, when you’re ready to cash out your Shiba Inu investment, you can create a ‘Sell’ order from your portfolio directly. Ultimately, the broker allows you to buy, store, and sell your tokens all on one platform.

Pros

  • Invest in cryptocurrencies on a spread-only basis
  • Minimum investment per trade from just $25
  • Supports debit/credit cards, e-wallets, and local bank transfers
  • Registered with FINRA/SEC and regulated by the FCA, CySEC, and ASIC
  • Minimum deposit of $50 and no transaction fees for US citizens
  • Used by over 20 million people
  • Perfect for beginners
  • Social and copy trading tools

Cons

  • Perhaps too basic for technical traders
  • No support for MT4 or MT5

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

2. Coinbase – Great Broker to Invest in Shiba Inu for Newbies

Buy MANA at Coinbase

Coinbase is a broker that appeals to newbies in the market because of its simple user interface. You are not required to know much about the cryptocurrency industry for you to get started with Coinbase. Once you open an account and complete the KYC steps, you’ll be able to make a deposit. Once you’ve funded your account, you can then proceed to invest in Shiba Inu.

However, in terms of fees, our research team found Coinbase to be expensive. When you invest in Shiba Inu via a debit/credit payment, you’ll incur a commission of nearly 4%. As a newbie looking to invest in a cost-effective manner, this pricing structure might not be your best option. However, if you don’t consider the high-fee structure a challenge, there are some other great features that come with Coinbase.

coinbase review

For instance, the broker has established its presence in the cryptocurrency market as a super-secure platform with more than 68 million users. Some of the security measures used by the broker include device whitelisting and two-factor authentication. Additionally, the broker stores 98% of users’ funds in cold storage to keep your tokens out of hackers’ reach. When you consider all the features of this broker, it does stand out as a great place to invest in Shiba Inu.

Pros

  • One of the most popular cryptocurrency exchanges
  • More than 68 million users
  • Supports instant debit card purchases
  • Dozens of digital currencies to choose from
  • Institutional-grade security practices

Cons

  • Debit card deposits are expensive at 3.99%
  • You will pay a standard trading commission of 1.49%

at eToro, #1 Broker in the Crypto Space

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

3. Binance – Best Place to Invest in Shiba Inu for Asset Diversity

Binance has become a popular name in the digital currency industry, not least because the platform is the largest in terms of trading volumes. The exchange lists hundreds of tokens in which you can invest. Therefore, if you have a long-term investment plan that involves Shiba Inu and numerous other tokens, Binance might be a great place for that purpose. You can also gain access to multiple charting options which you can leverage to make informed decisions concerning the market.

When it comes to fees on Binance, what you’ll incur is dependent on your location. Meaning, while a US client will incur 0.5% for debit/credit card transactions, a UK user will pay 1.8% for the same service. Outside these two jurisdictions, users might even incur up to 4%. Essentially, if you’re looking to invest in Shiba Inu in a cost-effective manner irrespective of location, perhaps you should look towards other options.

binance review

Nonetheless, a significant thing we found with Binance is that the exchange provides you with multiple options to store your tokens. You can decide to leave your coins on Binance, as the exchange has its own in-house storage facility. When you use this option, you don’t have to bother about safeguarding your private keys. Alternatively, you can choose to move your tokens to Trust Wallet, which has the backing of Binance. This comes in the form of a mobile app – which is compatible with both iOS and Android.

Pros

  • Facilitates billions of dollars in daily trading volume
  • Supports hundreds of digital asset pairs
  • Near-instant deposits via debit/credit card
  • Trading commission starts at just 0.1% per slide
  • Offers crypto savings accounts
  • Ideal for both beginners and experienced traders alike

Cons

  • Not all supported cryptocurrencies can be purchased with a debit/credit card
  • No e-wallet deposits or withdrawals

at eToro, #1 Broker in the Crypto Space

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

4. OKEx – Invest in Shiba Inu via a Crypto Deposit

OKEx homepage

In a similar manner to Binance, the trading commission on OKEx starts from 0.1%. When compared against some other platforms in this space, this rate is relatively modest. To trade Shiba Inu on OKEx, you’ll first have to buy a renowned token such as Bitcoin or USDT. Following the purchase, you can then proceed to swap the coin for SHIB tokens.

This makes OKEx a great option for you to invest in Shiba Inu if you already possess some digital tokens in a private wallet. In that case, you simply need to transfer the tokens from the wallet to OKEx. From there, you’ll perform a crypto-to-crypto exchange and receive your SHIB tokens in a matter of seconds. The impressive thing here is that you can deposit any supported token even if it’s a less liquid coin.

Over the years, OKEx has expanded to over 200 nations with more than 20 million clients. Although the platform is unregulated, it has been able to establish a notable presence in the cryptocurrency industry. Users can also elect to store their tokens in the platform’s custodial wallet. In that case, you’ll have complete control over your investment – since only you will hold the private keys.

Pros

  • Trusted crypto exchange with over 20 million users
  • More than 400+ digital currency pairs
  • Buy and sell cryptocurrencies with a debit/credit card or bank transfer
  • Low commissions that start from 0.1%
  • Fully-fledged mobile app on Android and iOS
  • Great reputation and highly secure

Cons

  • Debit/credit card fees could be more competitive
  • Derivative products are too complex for beginners

at eToro, #1 Broker in the Crypto Space

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

5. Capital.com – Trade Shiba Inu via Leveraged CFDs

capital.com review

Capital.com is a platform that deals in contracts-for-differences (CFDs). Essentially, this means that when you elect to trade Shiba Inu on Capital.com, you’ll be doing so based on the token’s value as opposed to owning the asset. The benefit here is that you can open and close numerous Shiba Inu trades within a day. Additionally, using this platform means you don’t need a wallet for storing your tokens.

Furthermore, Capital.com allows you to trade with leverage. This is a common feature that many investors in the cryptocurrency industry consider before choosing a trading platform. When you apply leverage to your Shiba Inu positions, you can trade with more capital than you have in your account. This is in addition to the fact that the broker allows you to open both long and short positions, meaning you can profit from the rise and fall of Shiba Inu’s price.

capital.com review

While this form of trading might appear technical, our research team found that Capital.com has a friendly interface to make this process seamless. Additionally, the broker has tight spreads, and most importantly, you won’t pay a single cent in commission when you trade Shiba Inu. You also gain access to over 200 cryptocurrency markets, making it easy to diversify into other digital tokens.

Pros

  • Top-rated spread betting and CFD broker
  • Regulated by the FCA
  • Minimum deposit just $20 (debit/credit cards and e-wallets)
  • 0% commission on all markets
  • Tight spread and no deposit/withdrawal fees
  • Thousands of financial markets supported
  • Great for beginners

Cons

  • Advanced traders might find the platform too basic
  • Minimum deposit of $250 on bank transfers
  • Not available in the US

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.25% of retail investor accounts lose money when trading spread bets and/or CFDs with this provider.

How to Invest in Shiba Inu – Detailed & Explained in Full

After deciding on the Shiba Inu broker that appeals to you, the next thing is to proceed with the investment steps.

Earlier in this guide, we briefly discussed how to invest in Shiba Inu via our quickfire walkthrough. While that might be sufficient for cryptocurrency experts, we have discussed each step extensively in this section to provide beginners with more insight into the process.

Step 1: Create a Shiba Inu Investment Account with eToro

When you decide to invest in Shiba Inu, you should do so through a reliable and credible broker. eToro is a broker that fits the bill here – as the platform is regulated by the SEC, FCA, ASIC, and CySEC. To get started with eToro, you’ll need to sign up on the platform. This process requires you to enter some personal details such as your full name, email address, and more.

how to join etoro

Additionally, you’ll have to choose your username/password and confirm your telephone number. Lastly, you’ll be required to answer some questions concerning your investment experience. This allows the broker to know the right set of investment products that might be of interest to you.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

Step 2: Upload ID

Before you can invest in Shiba Inu, you must verify your eToro account. This is a simple process that you can complete swiftly. Essentially, the broker will require two things from you:

  • Valid ID – You can upload your driver’s license or passport
  • Document to verify home address – you can provide your utility bill or bank statement.

Once you provide these documents, the broker will verify you in a few seconds. After that, the restrictions on your account will be removed and you can proceed to the next step.

Step 3: Add Funds to Your Account

Now, it is time to fund your investment account. Various brokers have different minimum deposit requirements. For eToro, the minimum you can add to your account is $200 ($50 if you’re from the US).

Deposit Funds

With eToro, you can make this deposit through multiple payment channels. These include debit/credit cards, ACH (US), wire transfers, Neteller, Paypal, and more.

If you’re paying through US dollars, eToro will charge you no deposit fee, meaning you can add funds to your account for free. However, if you’re making a deposit with any other currency, you’ll be charged 0.5%.

Step 4: Search for Shiba Inu

Locate the search bar, and enter ‘SHIB.’ Click ‘Trade’ once the broker displays the token.

shiba inu search page

This will take you to the page where you’ll complete the investment process.

Step 5: Invest in Shiba Inu

This is where you’ll enter your stake into the ‘Amount’ bar. You can choose to start your investment from the $25 minimum. However, if you want to invest more in Shiba Inu, you can conveniently adjust the amount using the plus (+) and minus (-) signs.

buy shiba etoro

Therefore, suppose your want to invest $100 in Shiba Inu, you can increase the amount accordingly. At Shiba Inu’s market price of about $0.0000083 as at the time of writing, this will get you just over 12 million tokens.

Once you confirm your stake, you can finalize the investment process by hitting ‘Open Trade.’

How to Sell Shiba Inu

Suppose your Shiba Inu investment has grown in value and you want to cash out your profit. All you have to do is to visit your broker to create an order.

With eToro as your broker, you can sell Shiba Inu by following these steps.

  • Open your eToro portfolio and look for Shiba Inu
  • Click on ‘Sell.’
  • Use a market order since you want to sell your tokens immediately.
  • This will execute your ‘Sell’ order at the next market price.
  • After the sale, the broker will update your cash balance.

Having successfully sold your Shiba Inu tokens, you can withdraw the funds through your original payment method.

Ways to Invest in Shiba Inu

Although there are many places that will allow you to invest in Shiba Inu, not all of these platforms can offer you satisfactory service. So, in this section, we examine cryptocurrency brokers and exchanges to help you understand the best ways to invest in Shiba Inu.

Shiba Inu Broker

The best way to invest in Shiba Inu is to use an online regulated broker. Regulated brokers are mandated to operate within legal boundaries, which serves as an assurance to investors that their capital is safe.

  • Regulated brokers operate a fair trading system. Additionally, there’s complete transparency, meaning you don’t incur any hidden charges.
  • A broker like eToro is authorized by different regulators including the SEC, FCA, and ASIC. When you invest with this broker, you get to enjoy regulatory protection on different fronts.
  • After verifying your identity on a regulated broker, you’ll be able to invest in Shiba Inu through debit/credit card — allowing you to buy the token in a swift manner.

Additionally, with a regulated broker such as eToro, you have the option of storing your assets in the wallet the platform provides you. This makes your tokens readily available when you want to cash out your investment.

Shiba Inu Exchange

If you don’t want to choose a broker, you can invest in Shiba Inu using a cryptocurrency exchange. Some investors use this option because they often list a wide range of alternative markets. You might also find that the fee structure on some cryptocurrency exchanges is significantly low.

shiba inu market

However, when investing in Shiba Inu, your priority should be the safety of your tokens. Unfortunately, there’s no way to ascertain this with most cryptocurrency exchanges – since they are unregulated. This is why we would suggest that you invest in Shiba Inu through a regulated broker — as that will ensure your tokens are under adequate protection.

Should I Invest in Shiba Inu?

The cryptocurrency industry is filled with thousands of tokens. While Shiba Inu has been able to generate some traction in the market, the token still has to contend with many other projects. Therefore, any smart investor would ask whether the coin is indeed a good buy.

In this section, we’ve considered some features of Shiba Inu to help you further gain insights into the token.

Upgrades to The Protocol

Shiba Inu has taken notable steps to increase the project’s value in the market. The anonymous team behind Shiba Inu has continued to work on fulfilling the promises made in the project’s whitepaper. One of the products that have been launched by the protocol is Shibaswap.

shiba inu chart

Shibaswap is a decentralized exchange (DEX) for Shiba Inu owners to trade their tokens for other crypto coins. The launch of this DEX has created some more traction around the Shiba Inu protocol. This is a feature worthy of consideration when researching the project and its market possibilities.

A Non-custodial Platform

Security of tokens is an important consideration when contemplating whether to invest in a coin or otherwise. This accounts for why most investors move their tokens to a private wallet after purchasing them from a trading platform.

In this regard, Shiba Inu stands out — as the protocol is a non-custodial platform that keeps its tokens secure without allowing them to come into contact with other coins. Non-custodial platforms tend to be safe, as they are rarely targetted by cryptocurrency hackers.

Support from Notable Personalities

Shiba Inu has enjoyed support from various big names in the cryptocurrency scene. As a meme coin that thrives on media goodwill, the value of Shiba Inu rose in the market after Elon Musk tweeted about the token. Other names that have shown support for the token include Mark Cuban, Guy Fieri, and more.

The popularity of Shiba Inu increased considerably after being listed by top cryptocurrency platforms, including Coinbase and Binance. These are notable events worthy of consideration before deciding whether the token is a worthy buy.

Low Entry Point

In a cryptocurrency market with high-priced tokens like Bitcoin and Ethereum, new investors look towards projects that are still in their early days. The goal is to buy such tokens when prices are remarkably low and sell them when the value increases. Shiba Inu is a token that perfectly fits this bill.

shiba inu price

As of the time of writing in mid-September 2021, the token’s price is about $0.0000083. Meaning if you invest just $200 in this project, you’d receive over 24 million tokens. This is a key feature that’s potentially worth exploring when doing your research on Shiba Inu.

What are the Risks of Investing in Shiba Inu?

Knowing how to invest in Shiba Inu requires you to have a basic knowledge of the risks involved with the asset. It’s crucial to know about these risks because they can have adverse effects on your investment.

In other words, when you understand the potential risks you might face by investing in Shiba Inu, you can prepare ahead to manage them. Here, we highlight some of the risks you should note before completing your SHIB purchase.

No Distinctive Use Case

The fact remains that Shiba Inu is a meme coin. This makes it difficult for the token to drive real action in the cryptocurrency market. Regardless of the founding team’s effort to grow the token, there’s no assurance that the coin will be viewed as a serious project.

Shiba Inu appears to have been a coin driven by hype. In the absence of real use cases, it might be difficult for the token to witness notable growth in the long run.

Market Volatility

Shiba Inu operates in a speculative space. This means that the token’s price movement is subject to market volatility. Essentially, you might invest in Shiba Inu today and the token will witness a price decrease shortly after. Therefore, it’s crucial to contemplate market volatility when creating a Shiba Inu investment plan.

How Much Does it Cost to Invest in Shiba Inu?

Each broker or exchange has its own fee structure. Therefore, to determine the cost you’ll incur when investing in Shiba Inu, you must assess the fees and commissions of the platform you’re choosing.

  • When you invest in Shiba Inu through a broker like Coinbase, you might incur nearly 4% in commissions.
  • However, if you decide to buy Shiba Inu through eToro, the broker will only charge you 0.5%. This is the case when you’re investing from a region outside the US. Otherwise, the broker will charge you no deposit fee at all.

Coinbase will also allow you to make free deposits if you’re using a wire transfer. However, you should only consider this option if you’re unbothered about the delay that comes with the process — as you might have to wait for days before receiving your funds.

Furthermore, Coinbase will still charge you a 1.49% commission when you proceed to invest in Shiba Inu, which is expensive. As such, we found that eToro is the most cost-effective way of purchasing SHIB tokens.

How to Invest in Shiba Inu – Conclusion

The goal of this page was to show you that process of investing in Shiba Inu is simple. Things become even more straightforward when you use a broker like eToro – which offers a user-friendly interface that makes it convenient to navigate the required investment steps.

You can invest in Shiba Inu from as little as $25 on eToro. Once you open your investment, you can store your SHIB tokens securely on the platform and elect to sell them once you’re ready to cash out your profit.

1
$50Exclusive promotion
Our score10
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
0% Commissionstart TradingOur score 10

FAQs

How to invest in Shiba Inu?

Where to invest in Shiba Inu?

Should I buy Shiba Inu?

How can I safely invest in Shiba Inu?

How can I cash out my Shiba Inu investment?

 

About Kane Pepi PRO INVESTOR

Kane Pepi writes for several high profile publications such as InsideBitcoins, the Motely Fool, and Learnbonds. Based in Malta, Kane is extremely skilled at complex subjects related to financial matters - including a Bachelor’s Degree in Finance, a Master’s Degree in Financial Crime, and actively engaged in Doctorate Degree research, for the money laundering threats of the blockchain economy.