Buy Shiba Inu Coin – How to Buy Shiba Inu Coin in the UK
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
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.
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.
You can find a full review of each of the above Shiba Inu Coin brokers further down in this guide.
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.
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.
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.
We found that overall – eToro is the best crypto broker to buy Shiba Inu Coin in the UK.
eToro is the UK’s most 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.
eToro supports bank transfers and PayPal, as well as standard debit and credit card deposits.
When it comes to fees, eToro charges a single fee of 1% for buying or selling cryptocurrencies. Moreover, the 1% fee is added to the spread, which varies depending on the cryptocurrency and market.
eToro 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 eToro 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.
Looking for an innovative way to invest? Meet Capital.com.
Capital.com is a cutting-edge investment platform that gives you access to the best prices on the market.
As a trader, you need quick and easy access to the world’s most popular markets, and that’s exactly what Capital.com provides.
With CFDs on shares, indices, commodities, currencies, and cryptocurrencies, you can find the perfect opportunity to trade no matter what the market conditions are.
And with thousands of different CFD assets available, you’ll always be able to find the perfect investment for your portfolio.
Capital.com’s innovative platform offers transparent and competitive rates, making it the ideal choice for CFD traders and seasoned investors alike.
With variable spreads and 0% commission, you can be sure you’re getting the best deal possible on every trade.
And with a wide range of instruments available, there’s something for everyone.
The intuitive design and user-friendly interface make it easy to find your way around the platform.
Moreover, the platform ensures that you have all the information you need at your fingertips to make informed decisions.
With Capital.com’s world-class platform and user-friendly interface, you’ll be able to trade with ease – no matter what your experience level may be.
So why wait? Sign up today and start trading with Capital.com.
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.
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.
Coinbase Pro is the next step up from the original Coinbase platform, offering more advanced features and order types for experienced traders.
With Coinbase Pro, you have access to limit and stop orders, giving you more control over your trading strategy. So whether you’re a beginner or a pro, Coinbase Pro is the perfect place to start trading cryptocurrencies.
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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.
Looking to get into the exciting world of crypto trading? Check out the best crypto trading platforms in the UK. With access to hundreds of markets, you can trade all your favorite cryptos from the comfort of your home. So what are you waiting for? Start trading today!
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The Crypto.com App is the must-have tool for anyone who wants to stay ahead of the curve in the world of crypto! With everything you need all in one place, it’s easy to stay up-to-date on your coins and markets.
Plus, with handy features like charts and up-to-date info, you can make sure you’re always making the most educated decisions when it comes to your investments. So download Crypto.com today – your ultimate crypto resource awaits!
Crypto.com has made it incredibly easy for you to buy and sell Shiba Inu (SHIB), Dogecoin (DOGE), and Ripple (XRP).
With the Crypto.com mobile app, you can quickly check the value of your portfolio, move funds between wallets without excessive rates, and even stake CRO to earn a premium metal Crypto.com Visa debit card in addition to a better APR on Crypto Earn and Crypto Credit!
Trading fees are kept low at 0.40% for new users with a trading volume up to $25,000 a month, making Crypto.com an attractive choice for those looking to invest in digital currencies.
Furthermore, with Crypto.com’s dedicated customer support, you’re guaranteed help whenever you need it. So what are you waiting for? Invest in SHIB today with Crypto.com!
Trading fees at Crypto.com are volume-based, so you save more as your trading volume increases. You may even stake CRO and pay your fees in CRO for even more savings.
Additionally, Crypto.com offers a 10% p.a. on your CRO stake! So come join the Crypto.com community today!
Crypto.com is your go-to destination for all things crypto. With lower trading fees than many major competitors, Crypto.com makes it easy for you to save more of your hard-earned money. So sign up today and start trading your favorite coins!
Looking to get into the exciting world of SHIB trading? Crypto.com has you covered, with support for the easy buying and selling of this popular digital asset.
And with the Crypto Earn service, you can even earn interest on your SHIB holdings. So what are you waiting for? Start trading today!
The Staples Center is renamed the Crypto.com Arena! Reportedly, the naming rights for the arena have been sold to Crypto.com in a $700 million deal. This is massive news for the crypto world and will bring even more attention to blockchain technology to the mainstream.
Looking to make some extra money from your crypto? Check out our list of the best crypto staking platforms! Staking is a great way to earn a passive income, and with our help, you can find the perfect platform for you. Whether you’re looking for a premier staking experience or just want to get started quickly, we’ve got you covered. So what are you waiting for? Start earning today!
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Gemini is the perfect destination for anyone looking to get into the exciting world of cryptocurrency trading. Gemini makes it easy for any Shiba Inu investor to get started with tools that are easy to use and a simple user interface.
Looking to trade Shiba Inu (SHIB) like a pro? Gemini has you covered. Gemini’s ActiveTrader platform delivers a world-class experience, complete with advanced charting and several order types.
Moreover, Gemini ActiveTrader is reliable and secure, breaking speed barriers to help you get ahead in the markets. So whether you’re buying or selling, ActiveTrader has everything you need to make the most of your trades. Ready to take your trading to the next level? Try Gemini ActiveTrader today!
With Tyler Winklevoss and Cameron Winklevoss at the helm, you can be sure that your SHIB is always safe and secure. In addition, Gemini makes it easy for anyone to trade Bitcoin, Shiba Inu, Dogecoin, and other exciting cryptocurrencies. So don’t miss out – sign up today!
Gemini is the easiest, most affordable way to start your crypto trading career. Gemini offers free ACH, wire transfer, and crypto transfer from external accounts, making it the most affordable option around to fund your account for free.
Additionally, debit card deposits are subject to a minor fee of 3.49%. So what are you waiting for? Sign up today and start trading!
Bear in mind that convenience costs are included in the quoted price of the cryptocurrency you’re buying and are increased by 0.5% for buy orders. The transaction fee is determined by the currency and volume of the transaction.
Gemini is the safest, most reliable place to buy and sell cryptocurrency. With insurance coverage and robust security measures, including two-factor authentication, Gemini is the go-to choice for anyone looking to invest in Shiba Inu.
Gemini is the perfect platform for new and experienced crypto investors alike. With valuable educational resources and a user-friendly platform, Gemini makes it easy to get started in the exciting world of crypto trading.
Plus, with Gemini’s robust security features, you can feel confident knowing your assets are safe and secure. And don’t forget about Gemini’s innovative over-the-counter (OTC) trading platform and APY-earning crypto loan feature – perfect for those looking to make their money work for them! So what are you waiting for? Sign up today and experience the Gemini difference!
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Kraken is the best of both worlds: a low-fee crypto exchange and an engrossing interactive experience. Moreover, Kraken trades more than just Bitcoin, Ethereum, and Litecoin – the exchange also offers dozens of other cryptocurrencies such as Shiba Inu on the market.
Once you open up your account at Kraken, you can enjoy upgraded trading tools like Kraken Terminal and Cryptowatch, which help you find better opportunities to trade more profitably.
Kraken Terminal is the ultimate free professional trading terminal. Based on Cryptowatch, Kraken’s premium trading terminal, Kraken Terminal offers a sleek and intuitive interface with all the features you need to trade like a pro.
Whether you’re new to cryptocurrency or a seasoned trader, Kraken Terminal has everything you need to take your trading to the next level.
With powerful, highly customizable price charts and real-time data at your fingertips, you’ll be able to make informed decisions fast and seize opportunities when they arise. So why wait? Get started today and see what Kraken Terminal can do for you!
If you’re looking for a comprehensive view of the crypto market, Cryptowatch is the premium terminal for you. With prices, detailed charts, and technical analysis, you can stay on top of your trade activity and make informed decisions. So unleash the Kraken and take your trading to the next level!
Instant purchases cost 1.5% for the majority of coins and 0.9% for stablecoins utilizing USD or another stablecoin.
Additional fees may apply depending on the payment method used to complete the transaction. For instance, funding costs differ from 0.5% when utilizing a bank account to more than 3.75% when using a debit card, credit card, or digital wallet.
Looking to get in on the action with Shiba Inu? With a minimum of 50,000 SHIB required, you can trade Shiba Inu against the Euro and the US Dollar with ease.
The minimum deposit is set at 373,000 SHIB, so you can rest assured that you’re getting in on this action at the right price.
Kraken is the perfect choice for those who want to make money and have experience in trading. With its margin and futures trading, Kraken offers sophisticated tools that give traders the ability to maximize their profits.
Looking for a thrilling investment opportunity? Look no further than Kraken. Significantly, Kraken supports cryptocurrency futures, which are sure to get your heart racing. With prices constantly fluctuating, now is the perfect time to take advantage of this exciting investment opportunity. So why wait? Get started today!
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Welcome to Bitstamp, one of the first and most reputable cryptocurrency exchanges in operation. Bitstamp prides itself on its competitive rates, easy-to-use interface, and commitment to providing a secure platform for buying and selling Shiba Inu and other digital currencies.
Plus, Bitstamp is one of the oldest exchanges around, so you can be sure your money is in good hands. So whether you’re a beginner or an experienced investor, Bitstamp is the perfect place to buy and sell cryptocurrencies.
Bitstamp charges a fixed fee based on your 30-day trading volume for crypto trades. There are 17 tiers, with 0.50% being the highest. Your fees will reduce as you advance through the levels.
An instant service fee of 5% of the purchase amount is added to each card purchase. You can fund your account with ACH if you reside in the U.S. In this case, both deposits and withdrawals are free.
Looking to make fast and easy transactions? Look no further than Bitstamp! Bitstamp offers the Faster Payments option, which means free deposits are available, and there is only a fee of 2 GBP for withdrawals – so you can get your money where it needs to go with ease.
In addition, the Faster Payments option ensures that your transactions are processed quickly and securely. Ready to experience the convenience of Bitstamp? Sign up today!
The Bitstamp mobile app gives you the power to trade cryptocurrencies wherever you are! With full access to all of the features of the web-based trading experience, you can buy and sell crypto on the go.
Plus, with support for Android and iOS devices, Bitstamp has you covered no matter what type of device you’re using.
Introducing one of Bitstamp’s most significant listings: the Shiba Inu! This furry little meme is growing in popularity, and Bitstamp is excited to offer traders a chance to get their hands on this digital asset.
The Shiba Inu is commonly referred to as the “Dogecoin killer” and has been listed on Bitstamp in response to growing demand from users. So why not add SHIB to your portfolio today? Get your furry friend today!
Looking to get into the world of crypto trading? Look no further! With our list of the best crypto apps, you can start trading like a pro in no time. These powerful platforms give you access to all the latest information and opportunities 24/7, so you can stay ahead of the competition at all times. So why wait? Get started today and see your portfolio grow!
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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.
The first step required when using eToro 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.
You will now need to deposit some funds into your newly created eToro account. If you want to do this instantly, it’s best to opt for a debit or credit card.
Once you confirm the transaction, you will then have your funds available in your eToro balance. Search for Shiba Inu Coin and select “Buy”. eToro will execute your Shiba Inu Coin purchase at the next best available SHIB price.
eToro will now execute your trade instantly – meaning that you now have an allocation of Shiba Inu Coin in your account.
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.
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 eToro, 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 – eToro 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, there are some cryptocurrency exchanges that 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.
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:
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.
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%.
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.
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:
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.
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.
As for October 19th 2021, many whales have bought up vast amounts of Shiba Inu – escalated price to $0.00002836. As fear-of-missing-out (FOMO) continues to build behind SHIB, crypto investors find themselves driving SHIB price further than previous expectations.
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 – when the crypto asset first hit the markets, you would have paid less than $0.00000001 per token.
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.
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%.
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.
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.
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.
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 eToro, 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.
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.
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.
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.
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 eToro, 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.
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 eToro 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.
Buy Shiba Inu Coin at eToro – UK’s #1 Broker