How to Buy Shiba Inu Coin in the UK

Shiba Inu coin has been called the ‘Dogecoin killer.’ It’s based on the same meme, but offers the advantage of using the Ethereum network and offering decentralized finance. In this guide, we’ll review where to buy Shiba Inu coin in the UK and how to buy SHIB safely in 2024.

The most popular method is to use eToro which allows you to buy Shiba Inu under the ticker SHIBxM.

How to Buy Shiba Inu Coin in the UK – Quick Guide

Want to buy Shiba Inu coin without reading our full guide? You can get started right away with these 3 quick steps.

Where to Buy Shiba Inu in the UK in April 2024

You can buy SHIB and hold it on spot exchanges such as eToro, Bybit, Binance, Coinbase.

How to Buy Shiba Inu Coin Tutorial

Ready to buy Shiba Inu coin? We’ll show you how to get started using eToro, which offers trading on Shiba Inu and more than 60 other cryptocurrencies.

Step 1: Register on eToro

Navigate to the eToro official website and click on ‘Join Now’ to be taken to the signup page. Here you will need to fill in your full name, password, mobile number, email, and username. To fast-track the process, eToro lets you register with your Google or Facebook account.

Step 2: Upload ID

To complete KYC, you need to upload a snapshot of your driver’s license or government-issued ID card for identification. Also, a copy of your recent utility bill or bank statement would be required for proof of residence.

Step 3: Deposit Funds

eToro has different minimum deposits depending on the region a user is signing in from. However, if you are registering from the US, you will need to meet a minimum deposit peg of $50. To deposit, you can choose between using a bank wire transfer, international bank transfer, debit card.

Step 4: Buy Shiba Inu coin

Buy Shiba Inu UK at eToro

Don’t invest unless you’re prepared to lose all the money you invest.

Once your deposit is confirmed, you can proceed to buy Shiba Inu. To do this quickly, click on the search bar and type in ‘SHIB1xM’ and click on the ‘Trade.’ You will be redirected to the order page, where you can insert the amount of Shiba Inu coin you want to buy. Once you are done, click on ‘Open Trade’ to complete the transaction.

Where to Buy Shiba Inu Coin in the UK

If you’re wondering where to buy Shiba Inu coin in the UK, you’ll need a cryptocurrency exchange. It’s important to pick an exchange that’s not only highly trustworthy but also makes it easy to go from fiat currency to digital currency. The best cryptocurrency exchanges also offer cutting-edge trading tools and a wide selection of tokens.

1. eToro – Overall Best Cryptocurrency Broker

eToro offers Shiba Inu trading and is also our overall favorite cryptocurrency broker for buying popular tokens like Bitcoin, Ethereum, Litecoin, and Dogecoin. eToro currently offers 60+ cryptocurrencies plus a built-in wallet to manage funds.

It offers comprehensive technical charts with dozens of technical indicators and drawing tools, plus a news feed and economic calendar to help you track the market.

On top of that, eToro has a built-in social trading network. You can follow other Shiba Inu traders to see whether they’re buying or selling and learn what they think about the coin’s outlook. Users can start discussions, so this network is also a valuable tool for cryptocurrency traders. You can even automate your crypto trading by mimicking the moves of more experienced traders.

Visit eToro

Don’t invest unless you’re prepared to lose all the money you invest.

2. OKX – Top Rated Crypto Exchange to Buy Shiba Inu

OKX is a leading digital asset trading platform for buying Shiba Inu and other cryptocurrencies. Along with offering exchange related features, it also offers a well developed wallet, making OKX a comprehensive crypto solution provider. The platform also offers staking features, currently limited to a specific number of cryptocurrencies.

While Shiba Inu is a crypto that is preferred by many crypto enthusiasts on OKX, many traders also prefer investing in OKX’s own crypto – OKB.

In addition to being a deserving crypto platform, OKX also serves as a famous liquid marketplace. This serves special purpose for institutional and professional traders who wish to instantly trade spot OTC, future spreads, and optional strategies at the price they want.

Visit OKX

3. Bybit – Professional Crypto Exchange for Instant Shiba Inu Purchases

Bybit provides with seamless Shiba Inu trading and is a popular cryptocurrency derivatives exchange that offers traders various advanced trading options, including up to 100x leverage on crypto. The platform focuses on providing a fast, reliable, and secure trading environment, boasting a transaction speed of 100,000 transactions per second. Headquartered in Singapore, Bybit has attracted traders worldwide due to its advanced trading options and user-friendly platform.

Founded in 2018, Bybit has quickly gained popularity among the crypto-trading community, becoming one of the leading cryptocurrency derivatives exchanges. With its high-speed transactions, extensive educational resources, and risk-free testnet environment, Bybit has become a popular choice for both novice and experienced traders.

Bybit supports a variety of trading options, allowing users to go long or short on 15 available currencies. This flexibility enables traders to potentially profit from both rising and falling markets. The platform also offers advanced charting tools that are popular among traders, providing a range of functionality and additional features. Users can also download data in various formats, making it easier to analyze market trends. Last but not least, the best features of Bybit is its testnet site, which allows new traders to test strategies and familiarize themselves with the platform without risking real money.

Visit Bybit

4. Binance

Binance is one of the largest cryptocurrency exchanges in the world and offers trading on more than 500 digital currencies. It stands out in a number of ways, including it’s top-tier trading platform and low cost for trading.

Binance gives you multiple ways to trade crypto. You can instantly buy or sell digital currency with a simple web interface, and pay using a debit card, credit card, or bank account transfer.

Alternatively, the exchange has a highly detailed web and mobile trading platform where you can analyze price movements and changes in momentum. The crypto platform even includes access to the Shiba Inu order book, which is a major plus for advanced traders.

Binance charges a commission of 0.10% per Shiba Inu transaction, which is among the lowest fees in the industry. You can also get a discount by holding BNB, Binance’s own cryptocurrency, in your trading account.

There are no deposit or withdrawal fees, although the platform does charge a 3% fee if you make an instant purchase with a credit card.

Another thing that’s nice about Binance is that it offers trading on cryptocurrency derivatives. So, you can trade special leveraged tokens to increase your exposure to a digital currency or trade futures contracts for popular currencies like Bitcoin. However, derivatives trading isn’t available for Shiba Inu coin at this time.

Binance is not regulated, but since it’s one of the biggest crypto exchanges on the planet it is considered highly trustworthy. The exchange also has its own crypto wallet, the Trust wallet, that we’ll cover in more detail below.

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Shiba Inu Coin Payment Methods

Buying Shiba Inu coin is easier than ever since many crypto exchanges now accept a wide range of payment methods. Let’s take a look at some of your options.

Buy Shiba Inu Coin with Debit Card

Binance allows you to fund your cryptocurrency purchases with a card payment. Binance requires a minimum transaction size of just $10 when buying Shiba Inu with a credit/debit card.

Buy Shiba Inu Coin with Bank Transfer

Another option is to buy Shiba Inu with a bank transfer. Most cryptocurrency exchanges allow you to send an electronic transfer or SWIFT payment from your bank account to your trading account. Just keep in mind that funds can take several days to arrive when using a bank transfer.

What is Shiba Inu Coin?

Shiba Inu coin is a cryptocurrency based around the doge meme, which features a Shiba Inu dog. The same meme around which Dogecoin was created. Shiba Inu was launched in 2020 by an anonymous creator named ‘Ryoshi.’

Shiba Inu coin is an ERC-20 token, meaning it’s based on the Ethereum blockchain network. Shiba Inu has its own blockchain, but it can easily be swapped for any other ETH based cryptocurrency using a decentralized exchange. The Shiba Inu token itself is also completely decentralized and is not controlled by Ryoshi or any other user.

This token has a maximum supply of one quadrillion coins, but half of them were donated to Ethereum founder Vitalik Buterin as ‘tribute.’ Buterin in turn burned and donated the coins, effectively destroying nearly half the supply.

In addition, there’s more to the Shiba Inu universe than just the Shiba Inu coin. Shiba Inu also includes the LEASH token, which is pegged to the price of Dogecoin, and the BONE token, which requires users to stake Shiba Inu coin and confers voting power over the Shiba Inu blockchain in return. Shiba Inu has said that it could add decentralized finance (DeFi) to the BONE token in the future so that holders can earn interest.

Why Buy Shiba Inu Coin? Shiba Inu Coin Analysis

Shiba Inu coin is a meme coin, but it has taken on value as more and more people have flocked to this new cryptocurrency. The price has shot up by over 2,300% in May 2021 alone, and the Shiba Inu price now values the project at over $7 billion. While Shiba Inu might not be the biggest cryptocurrency on the market, it’s clear that crypto investors are taking it seriously.

So, why should you buy Shiba Inu coin? The main reason is that this coin has a lot of potential. Digital Coin Price predicts that the token will be worth $0.00004607 by the end of 2025 – a 285% increase from today’s prices. Although Shiba Inu coin has a large supply, it is limited. So, the token can appreciate in value as demand soars.

Shiba Inu coin also stands out because of its potential for DeFi applications. The BONE coin in particular could offers users interest in exchange for staking Shiba Inu coin, which would make this a high-return and relatively stable investment. It’s not clear what other DeFi applications Shiba Inu would add, but the cryptocurrency has many possibilities thanks to the fact that it’s built on Ethereum’s network.

In the near-term, Shiba Inu coin offers a lot of possibilities for trading. The Shiba Inu price is currently 53% its all-time high from just a few weeks ago. A single tweet from Elon Musk – one of Shiba Inu coin’s biggest promoters – could send the token flying upwards again.

Cryptoassets are highly volatile and past performance isn’t an indicator of future success. Invest at your own risk.

Shiba Inu Coin vs Dogecoin

Shiba Inu has been called the ‘Dogecoin killer’ and the two coins are based on the same doge meme. So, should you buy Shiba Inu coin or buy Dogecoin?

In order to answer that question, it’s important to understand how the two coins are different. Dogecoin was originally intended as a joke, not a serious cryptocurrency. So, it uses the same blockchain code as Bitcoin, but it removed all limits on the number of Dogecoin that can be mined.

That means that the future supply of Dogecoin is essentially unlimited. So, it’s virtually impossible for Dogecoin to retain value in the long-run. The coin can see short-term spikes in price when demand outpaces the release of new coins from mining. But miners will eventually catch up, bringing the price of Dogecoin back down.

Shiba Inu, on the other hand, was meant to be a usable cryptocurrency based on the doge meme. It’s supply is limited, so the Shiba Inu price can rise steadily over time as demand increases. In addition, it is based on the Ethereum network instead of using the same blockchain technology as Bitcoin. That means that it’s interchangeable with all other ERC-20 tokens and can be used for DeFi applications like lending and saving.

Buy Shiba Inu UK

Cryptoassets are highly volatile and past performance isn’t an indicator of future success. Invest at your own risk.

Shiba Inu Coin Price

The Shiba Inu coin price has always been low – a fraction of one cent – because of the huge number of coins that the project initially released. For much of 2020, a single Shiba Inu coin was worth less than $0.00000001.

However, that changed in April 2021, when interest in Dogecoin skyrocketed. Shiba Inu caught crypto enthusiasts’ attention as another meme coin that could explode higher, and the price quickly jumped to over $0.000003 per coin.

Then, on May 11, 2021, Elon Musk asked on Twitter whether Tesla should start accepting Shiba Inu-themed cryptocurrencies for payment – including both Dogecoin and Shiba Inu coin. The Shiba Inu price rocketed to more than $0.00003, a gain of 10x from just a few days earlier.

Once the initial excitement over Musk’s tweet faded, Shiba Inu coin fell back down to $0.000015 – a loss of about 50% from the high. However, the current price represents a gain of more than 2,300% for crypto investors who bought Shiba Inu coin at the start of May.

Cryptoassets are highly volatile and past performance isn’t an indicator of future success. Invest at your own risk.

Shiba Inu Coin Price Prediction

It’s impossible to know where the Shiba Inu price will go next. On the one hand, the token is in the midst of a severe price drop after Musk’s tweet. Given that the coin shot up from being almost worthless just a few weeks ago, there is no support level to point to where the current price trend might stop and reverse.

On the other hand, Shiba Inu has entered the crypto spotlight. It’s gone from being an obscure token to one that everyday crypto investors know about, and that could propel it higher. In fact, Digital Coin Price predicts that Shiba Inu coin will be worth $0.00004607 by the end of 2025, which is a 285% increase from today’s prices.

Currently trading at $0.00006274, the Shiba Inu coin price has surged in the past 24 hours. It is now up 42.37%, with the seven-day increase pegged at 129.24%. However, the Dogecoin killer has never traded up to a cent, and this has largely been due to the volume of tokens released in its launch.

SHIB 5-Day Price Chart | Source – TradingView

Although meme coins have largely been disregarded, Dogecoin set the pace for a new era after it surged 15,000% in the early crypto boom this year. Shiba Inu has since taken this further, surging more than 21,000% in a one week push which moved its price to an all-time high (ATH) of $0.00003870.

This week’s 129% rally shows that the meme coin is becoming a top concern in the booming crypto market. At its current valuation, the Shiba Inu coin is only a step below and $6 billion shy of surpassing the Dogecoin in market valuation.

In any case, investors should expect extremely high volatility for this coin. Another Musk tweet could send it shooting higher – or lower, if he favors Dogecoin – and it’s not clear whether Shiba Inu’s popularity is fleeting or lasting.

Update – the SHIB price ended up hitting $0.00008 before correcting.

Cryptoassets are highly volatile and past performance isn’t an indicator of future success. Invest at your own risk.

Investing vs Trading Shiba Inu

Shiba Inu coin can be suitable for either investing or trading depending on your goals.

This token appears to be poised for long-term appreciation and DeFi applications. That makes it attractive to long-term investors who are looking for high returns and don’t mind the coin’s likely volatility along the way. Of course, investors need to be aware that Shiba Inu is just one of many cryptocurrencies vying for popularity. If interest in the doge meme fades, the Shiba Inu price could fall.

At the same time, Shiba Inu’s volatility makes it a potential target for short-term trading. The coin has experienced enormous price swings throughout each of the last 10 trading days, which creates opportunities for savvy traders to profit. Be cautious of trading against the current downtrend, though, as there is no guarantee that Shiba Inu coin will retest its recent high.

Best Shiba Inu Wallets

In order to safely store any Shiba Inu coin you purchase, you’ll need a cryptocurrency wallet (also known as a Bitcoin wallet). These are digital accounts that act like bank accounts for your cryptocurrency. Every time you want to buy or sell Shiba Inu coin, the coins will move into or out of your wallet.

When choosing a Shiba Inu wallet, it’s important to think about security and usability. Your funds need to be safe and completely protected from hackers. At the same time, you need to be able to access your crypto tokens for trading or DeFi applications when you need them.

A good option is the Binance Trust wallet. This is a highly secure wallet app that allows you to hold more than 500 altcoins and exchange between them using Binance’s decentralized exchange, BinanceDEX. The Trust wallet also has a built-in marketplace for DeFi apps, so it’s useful if you want to stake your Shiba Inu coin to earn interest.

What Taxes UK Citizens Need to Pay for Shiba Inu Profits

UK traders and investors are subject to capital gains tax (CGT) on their profits when they sell, which need to be reported annually by self-assessment.

In October 2021, the HMRC announced it will be sending nudge letters to crypto investors to remind them to report crypto sales on their yearly tax returns. The first £12,570 of income is not taxed, and the tax rate for income above that is 10% if you are employed in the basic rate income band (up to a £50,270 salary).

• HMRC Cryptoassets manual

Conclusion

Shiba Inu coin has been called the ‘Dogecoin killer’ because it is based around the same meme but offers the possibility of decentralized finance. As Dogecoin users began to look for alternative coins in May 2021, the Shiba Inu price exploded upwards by 2,300%. While the price has since dropped, Shiba Inu coin could move higher if interest in the cryptocurrency rises again.

Now that you know how and where to buy Shiba Inu UK wise, you can get started today with Binance, Coinbase, Kucoin, Bitfinex, or our recommended broker eToro.

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