The Shiba Inu has grown in popularity over the last year, rising 1,600,000% since its inception in mid-2020. For reference, if you had invested £1000 in early 2021, your investment would now be worth over £1.5 million!
Don’t want to miss out on this crazy opportunity? Then keep reading our article on how to buy Shiba Inu coins 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 Coins 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 on-screen prompts to set up an account
Step 2 – Deposit Your Funds – In order to purchase a 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 want to buy and make your transaction to add it to your account.
where to buy shiba inu coins
Now that you’ve started invest in cryptocurrency In Canada, we will also review Crypto.com and Binance, helping you choose the best broker to meet your investment needs. We’ll cover fees, ease of use, and the pros and cons of each.
Founded in Toronto in 2016, bitbuy is a Canadian crypto exchange. The platform is available on both iOS and Android, and is easy to use on both. This makes it a great option for beginner investors. However, with its built-in Trading View feature, Bitbuy also allows for more technical analysis, which is great for investors who want to do advanced research on currencies and price movements.
Bitbuy is a well-regulated platform, so investors can be sure 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 fiat company and all cryptocurrencies held in Bitbuy accounts are stored there. This means your funds are protected.
Bitbuy offers the 15 most popular cryptocurrencies. These include Bitcoin, Ethereum, Cardano, and of course the Shiba Inu. An interesting point to consider is that when users trade with Bitbuy, they can do so through the Express Trade feature, which offers quick and hassle-free purchases.
Regarding fees, Bitbuy charges a 0.2% commission on the purchase and sale of Express Trades. There is also a 1.5% deposit and withdrawal fee that investors should be aware of. However, if users want to deposit crypto from another wallet to their new Bitbuy account, they will not be charged any fees, which is a great point for users with pre-existing digital assets.
Simple and secure trading
Express Trade Feature
Business view integration
· Only supports 15 cryptocurrencies
Our second pick for where to buy Shiba Inu Coin in Canada is crypto.com. Also founded in 2016, the platform has grown to support more than 10 million users, highlighting its popularity. There are a whopping 250 currencies supported, and these can be traded on iOS and Android.
The website has a user-friendly feel, which makes it built for beginners. However, unlike Bitbuy, there are no additional advanced features, so technical investors may find it difficult to use the simple charts.
Crypto.com is highly secure and has multi-factor authentication for all accounts. Crypto.com is also part of the FDIC scheme in the US, working with local banks to support account insurance up to $250k.
In terms of fees, new users can expect to pay around 0.4% for market maker fees. However, when users make more transactions, this number decreases, so Crypto.com could be a great option for very active investors.
Our final runner is Binance. It is the largest crypto exchange in the world and supports tens of millions of users. It supports over 65 currencies and over 500 cryptocurrency pairs, making it a great option for building a diversified portfolio. Like our other two broker picks, it’s available on both iOS and Android, and the accounts are pretty easy to set up.
Binance also offers great security features. For example, users must go through an identity verification process every time they log in to an account. In terms of Binance fees, a 0.5% commission is charged when buying or selling an asset. Investors should also note that when depositing funds using a credit card, they will incur a 4.5% fee.
Binance helps cater to beginning investors through a host of educational resources that can be great for learning more about the crypto markets and recent news about it. In addition to this, it also offers more advanced access to trading tools, catering to more experienced investors as well.
Ways to buy Dogecoin
Before buying Dogecoin, users must fund their accounts. All three exchanges we reviewed accept numerous payment methods, including debit/credit card transfer and e-wallet payments like PayPal.
Buy Shiba Inu coin with PayPal
To buy Shiba with PayPal, you need to make sure you have set up a PayPal account and funded it before 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 credit or debit card
The same process applies to the purchase of SHIB with a credit or debit card. Simply connect your bank account to your broker account when you add funds. Investors should note that it is sometimes more expensive to add funds with a credit card than with 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 grown in popularity, creating a strong community of investors that has been critical to its success.
sky high prices
As mentioned, the price of SHIB has increased by a whopping 1,600,000%. Although the crypto market offers high returns, these types of movements are almost unknown in the space and have probably created many millionaire investors. Although past returns are not indicative of future performance, the idea of these gains certainly appeals to investors.
Another reason it might be a good time to buy Shibu Inu coins is because of their activity on Coinbase. It is the 11th most popular coin on the exchange and currently has a 69% buy rating. This indicates that investor sentiment is generally bullish on SHIB and at the current low price, now might be a good time to buy.
Shiba Inu Coin Price
The current Shiba Inu price is £0.00001850. This increased by 101,000% in 12 months.
Shiba Inu Coin Price Prediction
The great popularity of Shiba Inu bodes well for its future price. In addition to this, the SHIB team has recently announced that it plans to move into the layer 2 space by creating its own scalable network. This adds some real-world value and could set it apart from its main “meme coin” competitor, Dogecoin.
It is also in limited supply, making SHIB more attractive than DOGE for its long-term value. However, it remains a high-risk asset and its value may decline in the future.
Overall, Shiba Inu could prove to be a great investment at today’s low price. There is no guarantee that it will remain as profitable as previous returns, however with real utility and a strong community it seems to have some longevity.
If you want to buy SHIB coins today, we recommend doing it through Bitbuy. It accepts Canadian clients, is easy to use, highly secure, and has low fees.
The foregoing content is non-editorial and BCCL hereby disclaims any and all warranties, express or implied, relating thereto, and does not necessarily warrant, endorse or endorse any of the content. Cryptocurrencies/NFTs are unregulated, highly risky, and there may be no regulatory recourse for any losses from such transactions. Readers to exercise caution/due diligence and comply with all applicable laws, including but not limited to tax laws. The above content does not constitute investment advice nor does it promote, suggest or present Crypto/NFT to resolve financial difficulties/achieve financial security/act as an alternative to employment/income opportunity.