Shiba Inu has gained huge popularity over the past year, rising an eye-watering 1,600,000% since its inception in mid-2020. For reference, if you had invested £1000 at the start of 2021, your investment would now be worth over £1.5m!
Don’t want to miss out on this crazy opportunity? Then read on for our article on how to buy Shiba Inu coin today. We will cover how to Buy Shiba Inu Coin in Canada, where to buy SHIB and a price prediction.
How to Buy Shiba Inu Coin in Canada – Four Quick Steps
Let’s take a quick 4 step look at how you can set up a Bitbuy account today and buy SHIB in Canada:
Step 1: Open an account – Visit the Bitbuy.ca website and follow the onscreen prompts to set up an account
Step 2: Deposit your funds – In order to buy Shiba Inu, you must deposit funds into your account.
Step 3: Search for SHIB – Use the search bar to find the SHIB coin and select it.
Step 4: Buy Shiba Inu Coin – Select the amount of SHIB you wish to buy and place your trade to add it to your account.
Where to Buy Shiba Inu Coin
Now you’ve got started investing in cryptocurrency in Canada, we will also review Crypto.com and Binance, helping you pick the best broker to suit your investment needs. We will cover fees, ease of use, and pros and cons for each.
Founded in Toronto in 2016, Bitbuy is a Canadian crypto exchange. The platform is available on both iOS and Android, and it is easy to use on both. This makes it a great choice for beginner investors. However, with its integrated Trading View function, Bitbuy also allows for more technical analysis which is great for investors who wish to perform advanced research on coins and price movements.
Bitbuy is a well-regulated platform, so investors can rest assured that they are dealing with a reputable broker. It offers comprehensive insurance through its partnership with BitGo. This is the world’s first digital asset trust company and all crypto held in Bitbuy accounts is stored there. This means that your funds are protected.
Bitbuy offers the 15 most popular cryptos. These include Bitcoin, Ethereum, Cardano, and of course Shiba Inu. A cool point to consider is that when users place trades with Bitbuy they can do so through the Express Trade function, which offers quick, no-hassle purchases.
Regarding fees, Bitbuy charges a 0.2% commission on buying and selling of Express Trades. There is also a 1.5% withdrawal and deposit fee that investors should note. However, if users want to deposit crypto from another wallet into their new Bitbuy account, no fee will be charged, which is a great point for users with pre-existing digital assets.
· Simple, secure trading
· Express Trade feature
· Trading view integration
· Only supports 15 crypto coins
Our second pick regarding where to buy Shiba Inu Coin in Canada is Crypto.com. Also founded in 2016, the platform has grown to support over 10 million users, highlighting its popularity. There are a whopping 250 supported coins, and these can be traded on iOS and Android.
The website has an easy-to-use feel, making it create for beginners. However, unlike Bitbuy, there are no additional advanced features, so technical investors may struggle to use the simple charts.
Crypto.com is highly secure, sporting multi-factor authentication for all accounts. Crypto.com is also part of the FDIC Scheme in the US, which works with local banks to support up to $250k insurance for accounts.
In terms of fees, new users can expect to pay around the 0.4% mark for market maker fees. When users place more trades, this number decreases, however, so Crypto.com could be a great choice for highly active investors.
Our final broker is Binance. It is the world’s largest crypto exchange, supporting tens of millions of users. It supports over 65 coins, and over 500 crypto pairs, making it a great choice for building a diversified portfolio. Like our other two broker picks, it is available on both iOS and Android, and accounts are easy enough to set up.
Binance offers some great safety features too. For example, users must pass an identity verification process each time they log into an account. In terms of Binance fees, 0.5% commission is charged when either buying or selling an asset. Investors should also be aware that when depositing funds with a credit card, they will incur a 4.5% fee.
Binance helps cater to beginner investors through a plethora of educational resources which can be great for learning more about the crypto markets and recent news concerning it. In addition to this, it also offers more advanced access to trading tools, catering to more experienced investors too.
Ways of Buying Dogecoin
Before buying Dogecoin, users must deposit funds into their accounts. The three exchanges we reviewed accept numerous payment methods, including debit/credit card transfer, and e-wallet payments such as PayPal.
Buy Shiba Inu Coin with PayPal
To buy Shiba with PayPal, you must make sure you have set up a PayPal account and funded it prior to connecting it to your wallet. Once you have done this you can select the PayPal option when adding funds to your account, and these funds will be taken from your PayPal wallet.
Buy Shiba Inu Coin with a credit card or debit card
The same process applies to purchasing SHIB with a credit or debit card. Simply connect your bank account to your broker account when adding funds. Investors should note that it is sometimes more expensive to add funds using a credit card than other payment methods.
Is Shiba Inu Coin a Good Investment?
Meme coin popularity
Shiba Inu is a ‘meme coin’ based on a popular meme and inspired by Dogecoin. It has followed a similar trajectory to Dogecoin in that it has limited utility but has gained large popularity, building a strong community of investors which has been pivotal to its success.
As mentioned, the price of SHIB has risen by a whopping 1,600,000%. Although the crypto market does offer high returns, these sorts of movements are almost unheard of in the space and has likely created many millionaire investors. Although past returns are not indicative of future performance, the idea of these gains certainly entices investors.
Another reason why it could be a good time to buy Shibu Inu coin is because of its Coinbase activity. It is the 11th most popular coin on the exchange and currently has a 69% buy rating. This signals that investor sentiment is generally bullish on SHIB, and at the current low price, now could be a great time to buy.
Shiba Inu Coin Price
The current Shiba Inu price is £0.00001850. This up 101,000% over 12 months.
Shiba Inu Coin Price Prediction
The high popularity of Shiba Inu does bode well for its future price. In addition to this, the SHIB team has recently announced it is planning to move into the layer-2 space creating its own scalable network. This adds some real-world value and could set it aside from its main ‘meme coin’ competitor Dogecoin.
It also has a limited supply, which makes SHIB more attractive than DOGE for long-term value. However, it is still a highly risky asset and may decrease in value down the line.
Overall, Shiba Inu could prove a great investment at the current low price. There is no guarantee that it will continue to be as profitable as past returns, however, with real utility and a strong community, it seems to have some longevity.
If you want to buy SHIB coin today, we recommend doing so through Bitbuy. It accepts Canadian customers, is easy to use, highly secure and has low fees.
The above content is non-editorial, and BCCL hereby disclaims any and all warranties, expressed or implied, relating to it, and does not guarantee, vouch for or necessarily endorse any of the content. Crypto/NFTs are unregulated, highly risky, and there may be no regulatory recourse for any loss from such transactions. Readers to exercise caution/due diligence, and comply with all applicable laws, including but not limited to taxation laws. Above content does not constitute investment advice nor promotes, suggests or presents Crypto/NFTs to solve financial difficulties/achieve financial security/act as an alternative to employment/income opportunity.