Buy Shiba Inu Coin – How to Buy Shiba Inu Coin in the UK
Shiba Inu Coin is one of the hottest digital currencies in the market right now – so if you’re in the UK and wish to gain exposure to this crypto asset – read on. In this guide, not only do we show you How to Buy Shiba Inu Coin in the UK – but we also discuss the best brokers to complete the purchase with.
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How To Buy Shiba Inu Coin – Choose a Broker
If you want to buy Shiba Inu Coin in the UK in a safe and cost-effective way – you’ll need a top-rated cryptocurrency broker on your side. Below you will find a breakdown of the best brokers that allow you to buy Shiba Inu Coin in the UK.
- OKEx – Overall Best Crypto Broker to Buy Shiba Inu Coin in the UK
- Coinbase – Best Broker to Buy Shiba Inu Coin for Beginners
- Binance – Best Broker to Buy Shiba Inu Coin for Asset Diversity
You can find a full review of each of the above Shiba Inu Coin brokers further down in this guide.
How to Buy Shiba Inu Coin in the UK – A Quick Guide For 2021
If you’re strapped for time and want to learn how to buy Shiba Inu Coin in the UK right now -follow the quickfire steps outlined below.
- Step 1: Open an Account with OKEx – The first step is to open an account with a top-rated cryptocurrency exchange that allows you to buy Shiba Inu Coin in the UK. OKEx is the best option – as the platform has a great reputation and it supports debit/credit card deposits.
- Step 2: Upload Your ID – In order to deposit funds with a debit/credit card – you’ll need to upload a copy of your passport or driver’s license. This is to ensure that OKEx is able to verify your identity – as per KYC laws.
- Step 3: Deposit Funds – You can now deposit funds with your debit/credit card. You can’t buy Shiba Inu Coin in the UK directly – so you’ll first need to purchase Tether (USDT). Enter your card details along with the deposit amount to complete the transaction.
- Step 4: Buy Shiba Inu Coin – You can now exchange your newly purchased USDT tokens into Shiba Inu Coin.
And that’s it – you’ve just bought Shiba Inu Coin in the UK in less than 10 minutes! If this is your first time buying a digital currency from an online exchange – we offer a more comprehensive walkthrough further down in this guide.
Where to Buy Shiba Inu Coin in the UK
When learning how to buy Shiba Inu Coin in the UK, one of the most important steps is to ensure you are using a top-rated cryptocurrency broker.
Not only does the broker in question need to offer a safe and secure of investing online – but low fees and commissions. Plus, you will need to ensure that the broker accepts your preferred payment type – such as a debit/credit card or e-wallet.
In the sections below, you find will find a selection of the best online brokers that allow you to buy Shiba Inu Coin in the UK.
1. Coinbase – Overall Best Crypto Broker to Buy Shiba Inu Coin in the UK
If you are learning how to buy Shiba Inu Coin in the UK for the very first time – then Coinbase might be the best online broker for you. This is because the platform is extremely user-friendly – meaning that the process of making a crypto purchase is easy for all skillsets. In fact, it shouldn’t take you more than 10 minutes from start to finish.
Once you have opened an account with Coinbase, you will be asked to quickly upload a copy of your passport or driver’s license. Then, it’s just a case of deciding how many Shiba Inu Coin tokens you wish to buy. Coinbase supports instant purchases in the form of a debit card – which covers both Visa and MasterCard. The all-in purchase fee to buy Shiba Inu Coin in the UK with a debit card is 3.99%.
Although this is somewhat pricey, it might be worth paying a premium for the ease in which you can invest. Plus, Coinbase is one of the best cryptocurrency exchanges in terms of security – so you can transact knowing that your capital is in safe hands. For example, Coinbase keeps the vast majority of client funds in cold storage wallets – which makes it near-impossible for external hackers to gain access to its servers.
Additionally, Coinbase also offers two-factor authentication and IP address whitelisting. On top of debit card purchases, Coinbase also supports UK bank transfers. This will allow you to benefit from a lower deposit fee, albeit, it might take 1-2 days for the funds to arrive. If you’re keen to buy other cryptocurrencies, Coinbase offers a good selection of alternative digital assets. You can buy and sell digital currencies from the main Coinbase website or via its Android and iOS mobile app.
2. OKEx – Best Broker to Buy Shiba Inu Coin for Beginners
We found that overall – OKEx is the best crypto broker to buy Shiba Inu Coin in the UK. For those unaware, OKEx is a hugely popular digital asset brokerage site with millions of active traders. The platform is home to a significant amount of trading volume – which in the past 24 hours alone surpassed $12 billion.
In total, OKEx gives you access to hundreds of digital currency pairs – including that of Shiba Inu Coin. As we briefly noted in our quickfire guide earlier, in order to buy Shiba Inu Coin in the UK from OKEx, you will first need to obtain Tether. This is because the most liquid Shiba Inu Coin marketplace on the platform is SHIB/USDT. This isn’t an issue, as you can instantly purchase USDT by using a debit or credit card.
In fact, OKEx also supports bank transfers and Google Pay. When it comes to fees, OKEx offers a market maker/taker pricing structure that gets more competitive as your trading volume increase. If you are simply looking to buy Shiba Inu Coin – you will be classed as a market taker. Trading commissions start at just 0.10% – which is very competitive. You will pay this commission when you buy Shiba Inu Coin and again when you cash out.
OKEx also stands out for a number of other key reasons. For example, the platform offers a native mobile app that is compatible with both iOS and Android devices. Not only does this allow you to buy Shiba Inu Coin in the UK from the palm of your hand – but you check the value of your portfolio in real-time. The OKEx platform is also home to a sizable amount of educational material – which is great if you want to learn more about the wider cryptocurrency markets.
- Trusted crypto exchange with over 20 million active traders
- 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
- Debit/credit card fees could be more competitive
- Derivative products too complex for beginners
3. Binance – Best Broker to Buy Shiba Inu Coin for Asset Diversity
Binance has a great reputation in the cryptocurrency exchange arena with both newbies and seasoned traders alike. In the past 24 hours alone, this digital asset provider has facilitated over $90 billion worth of trading volume – which is significant. Binance stands out for us as a great place to buy Shiba Inu Coin for several key reasons.
First and foremost, the platform allows you to deposit funds with either a debit/credit card or UK bank transfer. If opting for the latter, you won’t pay any deposit fees and the funds should arrive in a few minutes. This is because Binance supports the Faster Payments network. Alternatively, if you use your debit/credit card, you will pay a reasonable deposit fee of 1.8%.
Best of all – Binance allows you to make a direct Shiba Inu Coin purchase – meaning that you don’t need to first buy an alternative cryptocurrency to complete the investment. Binance is also popular with UK traders because the platform offers hundreds of digital asset markets. This covers both fiat-to-crypto (e.g. BTC/USD) and crypto-cross (e.g. XRP/BTC) pairs. Trading commissions are super competitive too – with Binance charging just 0.1% per slide.
If you find yourself trading large volumes – or you hold an allocation of BNB coins, then you can reduce this commission even further. We also like the crypto savings accounts offered by Binance. In a nutshell, this allows you to earn interest on your digital asset holdings – much like you would when keeping money in a traditional bank account. The rates on offer can be very competitive – with Bitcoin attracting an APY of 7% for a 90-day lock-up period.
How to Buy Shiba Inu Coin in the UK – Detailed & Explained in Full
If you’re somewhat new to the digital currency arena and require a full step-by-step walkthrough of how to buy Shiba Inu Coin in the UK – we have you covered. In the sections below, we will show you how to invest in this speculative asset from start to finish with OKEx – which came out as our number one cryptocurrency broker.
Step 1: Open a Crypto Broker Account
The first step required when using OKEx to buy Shiba Inu Coin is to open an account. This is a simple and burden-free process that will only require some personal information. This will include your first and last name, home address, date of birth, email address, and mobile number.
Assuming that you will be looking to use a debit/credit card or bank account to deposit funds – OKEx will be required to verify your identity. This is also a straightforward process – as you simply need to upload a copy of your government-issued ID. If you’re from the UK, this can either be a passport or a driver’s license.
Once your document has been verified, OKEx will allow you to trade up to 200 BTC worth of cryptocurrencies per day – which is huge.
Step 2: Deposit Funds
You will now need to deposit some funds into your newly created OKEx account. If you want to do this instantly, it’s best to opt for a debit or credit card. As we covered earlier, the only Shiba Inu Coin market supported by OKEx is SHIB/USDT. This means that it’s best to use your debit/credit card to instantly buy Tether.
With this in mind, click on the ‘Buy/Sell’ button at the top of the main dashboard. By default, Tether will be selected as the cryptocurrency you are buying and GBP as the respective payment currency. Next, enter the amount of Tether that you wish to buy in pounds and pence. This should be equivalent to the amount of Shiba Inu Coin you want to purchase.
For example, if you are planning to buy £200 worth of Shiba Inu Coin, then you should first purchase £200 worth of Tether. This is because you will be exchanging Tether into Shiba Inu Coin in the next step.
Step 3: Buy Shiba Inu Coin UK
Once you confirm the transaction, you will then have USDT tokens in your OKEx. Next, you will be required to swap these USDT tokens into Shiba Inu Coin.
In order to do this, hover your mouse over the ‘Trade’ button at the top of the page and click on ‘Basic Trading’. You will now be presented with the main trading dashboard at OKEx. At the top left-hand side of the screen, click on the ‘BTC/USDT’ button. You will then need to enter ‘SHIB’ into the search box. Next, click on the ‘SHIB/USDT/ button to go to the relevant trading page.
The final step is to exchange your USDT tokens into Shiba Inu Coin. You will see an order box on the left-hand side of the page, which is where you need to enter your particulars.
- First, click on the ‘Market’ button. This will ensure that you are placing a market order and thus – OKEx will execute your Shiba Inu Coin purchase at the next best available price.
- Next – and assuming you want to exchange all your USDT tokens into Shiba Inu Coin – scroll the slide from 0 to 100. This will ensure that you use your entire USDT balance and have no tokens left over.
- Finally, confirm the trade.
OKEx will now execute your trade instantly – meaning that you now have an allocation of Shiba Inu Coin in your account! You can leave the tokens in your OKEx account should you wish. However, it might be best to withdraw the tokens to an external wallet for an extra layer of security.
Buy Shiba Inu Coin – Best Place to Buy Shiba Inu Coin in the UK
As Shiba Inu Coin has grown exponentially since it was launched in 2020 – it makes sense that there are now plenty of ways to gain exposure to this digital currency. If you’re still not sure which option is best for you – below we discuss the best place to buy Shiba Inu Coin in the UK.
Online Cryptocurrency Broker
Make no mistake about it – the best place to buy Shiba Inu Coin is through an online cryptocurrency broker. In doing so, you will be buying the digital asset directly from the provider in question. In turn, this will allow you to easily deposit funds with your debit or credit card – ensuring that you can transact in a simple and burden-free way.
This is why we think that the likes of OKEx, Coinbase, and Binance offer the best place to buy Shiba Inu Coin in the UK – as the platforms support a variety of fiat currency methods. Not only does this include a debit/credit card – but a local bank transfer, too. Plus, the aforementioned platforms have built a trusted reputation in the crypto asset space – which is crucial.
This means that you can buy and sell cryptocurrencies like Shiba Inu Coin without needing to worry about your funds being lost or stolen. On the contrary – OKEx, Coinbase, and Binance all promote institutional-grade security practices. At the forefront of this is keeping your Shiba Inu Coin tokens in cold storage – meaning that they are safe from remote hacking attempts.
If you decide to use a conventional cryptocurrency exchange to buy Shiba Inu Coin – you won’t be short of options. In fact, there are well over 100+ exchanges that now support this digital asset – which is great. However, in the vast majority of cases, cryptocurrency exchanges operate without holding a regulatory license.
This means that you will be depositing funds with a platform that doesn’t take customer care seriously. As such, your capital is always at risk. After all, we have seen many cases of unregulated cryptocurrency exchanges being hacked or simply closing down overnight – taking client funds with them. This is why we suggest sticking with trusted cryptocurrency brokers.
Ways to Buy Shiba Inu Coin UK
On top of thinking about the best place to buy Shiba Inu Coin in the UK – you also need to think about the specific payment method that you wish to use.
This includes the following:
Buy Shiba Inu Coin With Debit Card
If you’re based in the UK and wish to buy Shiba Inu Coin with a debit card – you have plenty of options on the table. In fact, you can do this with all of the cryptocurrency brokers reviewed earlier.
First and foremost, we should note that in order to buy Shiba Inu Coin with a debit card, you will first need to go through a KYC (Know Your Customer) process. This simply means that the broker is required to verify your identity and thus – you’ll need to upload a copy of your passport or driver’s license. This is much the same as opening a traditional stockbroker account.
Once your account is verified, you can then buy Shiba Inu Coin with your debit card. Simply enter your debit card details as you normally would when buying products or services online, alongside the deposit amount.
Buy Shiba Inu Coin With Credit Card
If you want to buy Shiba Inu Coin with a credit card, the process is much the same as above. However, the most important thing to check is whether or not your credit card issuer charges a cash advance fee to buy cryptocurrency.
This is because brokerage payments are often put in the same category as an ATM withdrawal. If this is the case, you might need to pay a cash advance fee of between 3-5%.
Buy Shiba Inu Coin With Paypal
Another option you might consider is to buy Shiba Inu Coin with Paypal. Not a lot of trusted brokers supporting Shiba Inu Coin accept Paypal – so you might need to do a bit of homework first. Once you find a suitable broker, the process is super simple.
You will be prompted to specify the deposit amount and then you will be redirected to Paypal via a pop-up box. After entering your login credentials and confirming the purchase – the broker should process the payment immediately.
Buy Shiba Inu Coin With Bitcoin
If you want to buy Shiba Inu Coin and you currently hold an allocation of Bitcoin (or any popular cryptocurrency for that matter) – you might consider making a direct swap. In fact, this is one of the easiest options you have available to you – as you won’t be required to go through the KYC process.
This is because brokers like Binance and OKEx allow you to buy and sell digital currencies anonymously – should you deposit and withdraw funds with crypto. There will be limits in place here, but with Binance, for example, you can trade up to 2 BTC worth of digital assets per day without needing to verifying your identity.
If this option is of interest – the process works as follows:
- You quickly open an account with a platform like Binance or OKEx by entering your email address and creating a password
- Next, copy the Bitcoin wallet address from within your newly created account
- Head over to the private wallet where your Bitcoin is currently being stored
- Paste in the wallet address and transfer the coins into your trading account
- Finally, find the SHIB/BTC market and swap your Bitcoin into Shiba Inu Coin
As we noted above, some brokers also offer alternative markets on Shiba Inu Coin. For example, Binance also allows you to buy Shiba Inu Coin by exchanging it from USDT or BUSD.
Why Buy Shiba Inu Coin UK?
As you likely know, digital currencies are highly speculative assets. For example, some digital currencies can rise by over 100% in value in a single day. On another day, you might see the value of your crypto asset drop by over 50%. Unfortunately, this is just the nature of the cryptocurrency investment scene.
With this in mind, it’s important to do lots of independent research before you decide to buy Shiba Inu Coin in the UK. To help you along the way, below we explain some of the main reasons why you might decide to add this digital currency to your investment portfolio.
Significant Returns in Less Than 1-Year of Trading
First and foremost, you might consider buying Shiba Inu Coin in the UK because of how well the digital currency has performed since it was launched. Back in August 2020 – where the crypto asset first hit the markets, you would have paid less than $0.00000001 per token.
- Fast forward to May 2021 – and the same cryptocurrency was trading at just over $0.000035.
- This means 9 months of trading – early backers of Shiba Inu Coin were looking at gains of just under 350,000%.
- In real terms, this means that had you invested just £1,000 into the crypto asset when it was first launched in August 2020 – by May 2021 your capital would have been worth over £3.5 million.
Since hitting highs of $0.000035 – Shiba Inu Coin has dropped in value by a considerate amount. As we explain in the section below – this could be viewed as a benefit if you are yet to enter the market.
Enter the Market at a HUGE Discount
As noted above, Shiba Inu Coin was trading at $0.000035 in May 2021. However, at the time of writing in early July 2021, the digital currency is worth just $0.0000089. This represents a decline of over 74% since its prior all-time highs.
Although this is somewhat concerning, if you’re keen to buy Shiba Inu Coin in the UK – you can now do so at a major discount. If you believe that Shiba Inu Coin will once again return to the $0.000035 region – then this would require an upside of 290%.
Plenty of Upside Potential
Based on current prices at the time of writing, Shiba Inu Coin is carrying a market capitalization of just over $3.5 billion. On the one hand, the digital currency has done well to attract such a large valuation – especially when you consider that it has been in existence for less than one year.
However, we should also note that there are many, many other cryptocurrencies that carry a much larger market capitalization. For example, Dogecoin recently hit a valuation of over $90 billion when it hit all-time highs in May 2021. This means that the upside potential on Shiba Inu Coin is much higher in comparison to other projects.
Low Barrier to Entry
When buying a digital asset like Bitcoin – you will need to outlay tens of thousands of pounds just to purchase a full coin. At the other end of the spectrum, you have cryptocurrencies like Shiba Inu Coin. As we noted above, a single Shiba Inu Coin token is currently trading at just $0.0000089.
This means that you can buy a significant number of tokens with a small amount of capital. In fact, if you invested £1,000 into Shiba Inu Coin – you would own over 112 million tokens!
Additionally, such a low entry price also means that you can easily diversify your cryptocurrency portfolio. For example, you might decide to split your £1,000 investment across Shiba Inu Coin alongside nine other crypto assets. This will ensure that you mitigate the risks – as you won’t be overexposed to a single digital currency.
Shiba Inu Coin is Attracting Global Interest
While there are now over 10,000 digital currencies that you can buy, sell, and trade in the open marketplace – most are unknown quantities. That is to say, once you get past the first couple of hundreds in terms of market capitalization, you’ll see that many of these projects are either worthless or simply dead.
But, in the case of Shiba Inu Coin – it appears that this crypto asset is only getting started. Crucially, the token is quickly gaining traction in the wider digital currency markets. For example, it was reported in May 2021 that Ethereum founder Vitalik Buterin donated nearly $1 billion to India’s COVID-19 relief fund.
Not only did this figure include 500 ETH, but over 50 trillion Shiba Inu Coins. Although this doesn’t help the price of Shiba Inu Coin per-say, it does provide the cryptocurrency with some much-needed global exposure. We should also note that although Shiba Inu Coin has not been endorsed by Elon Musk – it’s no secret that the Tesla CEO is a huge fan of Dogecoin.
The Cost of Buying Shiba Inu Coin
In a similar nature to purchasing shares from a traditional stockbroker, if you wish to buy Shiba Inu Coin in the UK – you need to factor in certain fees. After all, the platform you are buying the digital currency from is in the business of making money – so it needs to charge a variety of fees to make a profit.
To help clear the mist, below we discuss the main fees that you need to consider when learning how to invest in Shiba Inu Coin.
In order to invest in Shiba Inu Coin in the UK – you will need to first deposit some funds. In the cryptocurrency brokerage scene, this can often be the highest fee that needs to be factored in – especially if you are using a debit or credit card.
For example, Coinbase will charge you 3.99% to buy Shiba Inu Coin with a debit card. This means that a £1,000 investment would cost you £39.90 in fees – subsequently leaving you with £960.10 worth of tokens. Binance is more comparative in this respect, as the broker charges 1.8% on debit card purchases.
On the other hand, if you deposit funds via a UK bank transfer, the fees are typically much lower. In fact, platforms like Binance allow you to deposit via a UK Faster Payments transfer for free.
If you decide to use the debit card Instant buy feature with brokers like OKEx, Coinbase, or Binance – then this includes the respective trading fee. However, if you are making a deposit into your account via bank transfer or cryptocurrency – you will need to pay a commission when buying Shiba Inu Coin. This will also be the case when you get around to cashing out your Shiba Inu Coin investment.
- The good news is that trading commissions are very competitive in the cryptocurrency arena – especially with the brokers that we have discussed today.
- For example, OKEx and Binance both offer an entry-level trading commission of just 0.1% per slide.
- This means that you can deposit funds via a bank transfer for free, and then pay just 0.1% to complete your Shiba Inu Coin purchase.
For example, if you wish to buy £1,000 worth of Shiba Inu Coin, then your commission would amount to just £1. Then, if you cashed out your Shiba Inu Coin investment when it was worth £5,000 – your 0.1% commission would amount to just £5.
Risks of Buying Shiba Inu Coin in the UK
It goes without saying that Shiba Inu Coin is a high-risk investment. Sure, the digital currency has exploded in value since its August 2020 listing – but that isn’t to say that you are certain to make a profit. On the contrary, you could lose some, or all of your investment.
With this in mind, we would suggest considering the following risks of buying Shiba Inu Coin before proceeding.
The obvious starting point is that like most cryptocurrencies – Shiba Inu Coin is highly volatile. This means that the value of your investment can go up or down by a significant amount in a very short period of time. This likely won’t be suitable for those of you that have a low tolerance for risk.
As we noted earlier, Shiba Inu Coin has dropped almost 75% since its prior all-time high – based on prices at the time of writing. Therefore, consider that you are investing in a highly speculative and volatile commodity before taking the plunge.
At the time of writing, Shiba Inu Coin is trading at around the $0.0000089 level. As you can imagine, such a small fractioned value can make it confusing to know how much your original investment is worth. For example, if you wanted to set yourself a short-term target of 10% – it would be difficult to assess what price you would need to hit for this to come to fruition.
In fact, your calculator will return a figure of ‘8.9e-7’ when you attempt to see what a 10% increase on $0.0000089 amounts to. Crucially, you do need to bear in mind that you are dealing with a complicated denomination when you invest in Shiba Inu Coin – so you’ll need to be extra vigilant.
Real-World Usage is Limited
Many cryptocurrencies have a valid real-world use case. For example, Bitcoin – as the de-facto cryptocurrency of choice, is typically viewed as a store of value. You then have Ethereum, which can facilitate trustless agreement via decentralized smart contract technology.
Moreover, Ripple and its XRP token allow financial institutions to transfer funds across borders in a fast and low-cost manner. However, in the case of Shiba Inu Coin – the digital currency has very little, if any, real-world usage at all.
On the contrary, it’s safe to say that the vast majority of people choose to invest in Shiba Inu Coin on a speculative basis – with the hope that they will make fast and easy money. With this in mind, it still remains to be seen whether or not Shiba Inu Coin will stand the test of time.
Selling Shiba Inu Coin: A Quick Overview
If you are currently holding an allocation of Shiba Inu Coin and want to know how you can cash out – the process is relatively straightforward. However, the exact requirement will depend on various factors – such as where the tokens are currently being held and which exchange or broker you decide to use.
For example, if you decided to buy Shiba Inu Coin from a broker like OKEx, Binance, or Coinbase – and you kept the tokens in your respective web wallet, then it’s just a case of placing a sell order. At Binance, for example, you can sell the digital currency back to fiat money and then make a withdrawal to your bank account.
On the other hand, if you want to sell Shiba Inu Coin but the tokens are currently being stored in a private mobile, desktop, or hardware wallet – you will first need to transfer them to an exchange or broker. Then, you can proceed to sell your Shiba Inu Coin tokens into another cryptocurrency like Bitcoin or if supported – back to fiat money.
How to Buy Shiba Inu Coin UK – Conclusion
In summary, although the process of buying Shiba Inu Coin isn’t as straightforward as more popular digital assets like Bitcoin or Ethereum, this guide has shown you the easiest way to complete the investment.
We concluded that OKEx is arguably the best cryptocurrency broker for the job – as the platform offers a low-cost barrier to entry, alongside support for debit/credit cards and bank account transfers. Plus, OKEx is used by over 20 million traders and it is in possession of a great reputation in this industry.
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