If you've been following cryptocurrency trends, you've likely heard of Shiba Inu—not the Japanese dog breed, but one of the most successful altcoins of 2023. With its meteoric rise, the question on everyone’s mind is: Where can you buy Shiba Inu (SHIB)?
This guide will walk you through everything you need to know about Shiba Inu coin—what it is, why it’s popular, and the best platforms to purchase it securely.
What Is Shiba Inu Coin?
Before diving into where to buy Shiba Inu, let’s clarify what it actually is.
- Shiba Inu is not Dogecoin, though both are meme-inspired cryptocurrencies featuring Shiba Inu dogs.
- Unlike Dogecoin, Shiba Inu is an ERC-20 token built on the Ethereum blockchain, meaning it leverages Ethereum’s ecosystem (NFT compatibility, smart contracts) but also incurs Ethereum gas fees.
- Created in August 2020, Shiba Inu gained massive traction in late 2023, with its price surging over 7,000,000% at its peak.
Key Differences:
| Feature | Shiba Inu (SHIB) | Dogecoin (DOGE) |
|---------|------------------|-----------------|
| Blockchain | Ethereum | Litecoin fork |
| Token Type | ERC-20 | Coin |
| Primary Use | NFTs, community projects | Tipping, payments |
Why Is Shiba Inu So Popular?
Several factors fueled SHIB’s explosive growth:
- Elon Musk’s Influence: His tweets about Dogecoin inadvertently drew attention to Shiba Inu due to their thematic similarities.
- Vitalik Buterin’s "Donation": The Ethereum creator received 50 trillion SHIB (worth ~$1B at the time) and donated most to charity, sparking media buzz.
- Whale Purchases: In October 2023, anonymous investors bought 6 trillion SHIB (~$45M), triggering a price surge.
However, SHIB remains highly volatile—its future depends on market trends and community support.
Where to Buy Shiba Inu?
Here are the top platforms to purchase SHIB securely:
1. Binance
Steps:
- Sign up and complete KYC verification.
- Deposit funds via credit/debit card or bank transfer.
- Buy USDT (a stablecoin), then trade for SHIB in the SHIB/USDT pair.
Why Binance?
- Largest crypto exchange by volume.
- Low fees and high liquidity.
2. Coinbase
Steps:
- Register and verify your identity.
- Deposit USD or buy Ethereum (ETH).
- Exchange ETH for SHIB.
Why Coinbase?
- User-friendly interface, ideal for beginners.
- Listed on NASDAQ (high credibility).
3. Kraken
Another reliable option, especially for EU/US traders.
Alternatives: ShibaSwap (DEX)
ShibaSwap is Shiba Inu’s decentralized exchange where you can:
- Swap ETH for SHIB.
- Earn SHIB by providing liquidity.
Caution:
- Requires existing ETH (purchased elsewhere).
- Higher complexity and risk than centralized exchanges.
FAQ
1. Can I buy Shiba Inu on Robinhood?
No—Robinhood doesn’t support SHIB trading. Stick to Binance, Coinbase, or Kraken.
2. Is Shiba Inu a good investment?
It’s high-risk due to volatility. Invest only what you can afford to lose.
3. How do I store SHIB securely?
Use hardware wallets like Ledger Nano X or software wallets like MetaMask.
Conclusion
Shiba Inu’s rise has been astronomical, but purchasing it is straightforward on major exchanges like Binance and Coinbase. Avoid unregulated platforms, and always prioritize security.
| Platform | Best For | Fees |
|----------|----------|------|
| Binance | Low-cost trading | 0.1% |
| Coinbase | Beginners | 1.49% |
| Kraken | Security-focused users | 0.26% |
Ready to dive in? Start with a trusted exchange and trade wisely!