How To Buy Shiba Inu (SHIB)
Shiba Inu coin or SHIB surfaced back in the August of 2020. This cryptocurrency was created by an anonymous source and gained popularity in a very short period of time. The goal of Shiba Inu is to be the Ethereum-based counterpart to Dogecoin’s mining algorithm. Like other meme coins, SHIB is also a part of the dog-themed crypto tokens. It is important to mention that SHIB became immensely popular after finding an active presence in the discussions and tweets of influencers like Elon Musk and Vitalik Buterin. If you want to buy Shiba Inu (SHIB) using simple and easy steps, now is the best time to do it. Here’s how to buy SHIB!
Register On Crypto Exchange
Since SHIB is an altcoin, it can not be purchased directly with money. You will first need to buy Bitcoin (BTC) or Ethereum (ETH). To do that, you need to register on any of the credible crypto exchanges like Coinbase.
Buy Cryptocurrency With Cash
Once registered on the crypto exchange, you can buy BTC or ETH by paying cash through bank transfer or using an instant cash deposit (applicable in some countries).
Transfer Cryptocurrency To Altcoin Exchange
You will need to transfer your purchased cryptocurrency to an exchange that allows SHIB trading. Some of the popular altcoin exchanges include Gate.io, Binance, HotBit, and Poloniex. Just like other crypto exchanges, you will need to register on any of these first. While this may be valid, you may need to first check which of the altcoin exchanges allow SHIB trading.
Deposit Your Crypto
After registering for altcoin exchange, you will be eligible to exchange your cryptocurrency. However, the exchange policies may vary depending upon the alt exchange you are using. If you want to deposit BTC to an exchange, you will find a string of random numbers saying ‘BTC address’ in the exchange app. Once you locate it, click on ‘Copy Address’ or simply select the address by right-clicking and copying the address.
Now, head to your crypto exchange e.g. Coinbase, and go to the Portfolio page. Once the page is open, click on your assets list and then click ‘Send’.
You can now paste the copied wallet address to the ‘Recipient’ field and click on ‘Send’ to proceed.
Once your exchange is successfully through, you will receive a confirmation email from your altcoin exchange.
You can now open your altcoin exchange and select BTC from the options above the search bar. We choose BTC because we are trading bitcoins to purchase SHIB. Now, type “SHIB” in the search bar and you will find the available sets of pairs.
Select the pair to see the price chart. Once you are ready to make the purchase, click on the green button ‘Buy SHIB’.
Following the above-mentioned steps, you can easily buy Shiba Inu (SHIB) with your BTC or ETH on any of the altcoin exchanges.