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How to buy Shiba Inu (SHIB) in Canada

Learn how to buy Shiba Inu (SHIB) easily by following a step-by-step guide and compare 10+ crypto exchanges.

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Shiba Inu (SHIB) is a dog-based memecoin listed on many popular cryptocurrency exchanges.

How to buy SHIB

Due to Shiba Inu's massive popularity in 2021, it is simple to buy Shiba Inu on several of the world's most popular cryptocurrency exchanges. Exchanges listed on the table below offer the ability to buy SHIB. The process to buy SHIB on any one of these exchanges is more or less the same, and can be broken down into 3 steps.

Step 1: Choose where to buy SHIB

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Wealthsimple Crypto
Bank transfer (EFT)
CAD

34
cryptocurrencies

Get a $50 cash bonus and commission-free trades when you open a Wealthsimple Trade or Crypto account and deposit and trade at least $150. Sign-up today to take advantage of this offer!
Buy and sell a range of cryptocurrencies instantly with no deposit or withdrawal fees.
NDAX Cryptocurrency Exchange
Bank transfer (ACH)
CAD

24
cryptocurrencies

Get a $10 bonus when you open an account and deposit at least CAD$100. T&Cs apply.
NDAX is a Canada-based digital asset exchange with CAD currency pairs and with options for advanced traders.
Crypto.com App
Credit card, Cryptocurrency, PayPal, TransferWise, SEPA
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

214
cryptocurrencies

Buy 200+ cryptocurrencies, earn up to 14.5% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Gate.io Cryptocurrency Exchange
Cryptocurrency
USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN

962
cryptocurrencies

Finder exclusive: New users get $90 worth of Gate.IO points and an airdrop of $5 in random tokens if trade volume exceeds $100 in their first week. T&Cs apply.
A feature-rich exchange with over 700 tokens including derivatives, yield farming and lending products.
Binance Cryptocurrency Exchange
Bank transfer (ACH)
USD, AUD, GBP, EUR, RUB, TRY, NGN, UAH, PHP, CZK & 20+ more

354
cryptocurrencies

New users earn up to USD $500 in bonus rewards on qualified deposits and trades. Valid until December 31, 2021. T&Cs apply.
Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US.
UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
CA residents: Binance is not currently available to Ontario-based users.
Gemini Cryptocurrency Exchange
Bank transfer (ACH), Debit card, Wire transfer
USD, AUD, CAD, EUR, GBP, SGD, HKD, COP

95
cryptocurrencies

Get USD 25 in BTC when you trade USD 100 within 3 days of signing up. T&Cs apply.
Trade bitcoin, Ethereum and more at a US-based exchange where payments can be made in USD.
FTX Cryptocurrency Exchange
FTX Cryptocurrency Exchange
Credit card, Wire transfer, Silvergate Exchange Network (SEN), Signature SIGNET
USD,EUR,GBP,AUD,HKD,SGD,TRY,ZAR,CAD,CHF,BRL

241
cryptocurrencies

Sign up through Finder for a 5% discount on all trading fees. T&Cs apply.
FTX is an exchange built by traders for traders, with a range of derivatives markets such as options and futures with deep leverage, in addition to standard spot markets. Note: Not available for US customers.
KuCoin Cryptocurrency Exchange
KuCoin Cryptocurrency Exchange
Cryptocurrency, PayPal, Wire transfer, Credit or Debit Card, SEPA
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

495
cryptocurrencies

Finder exclusive: Sign up and use code 1xf56 for one month of VIP 1 benefits. Deposit/transfer more than 0.1 BTC to KuCoin within 7 days of registration for 1 month of VIP 2 benefits. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Coinbase Digital Currency Exchange
Bank transfer (ACH)
USD, EUR, GBP, CAD, MXN, HRK, CZK, DKK, CLP, BGN & 10+ more

82
cryptocurrencies

Buy and sell major cryptocurrencies on one of the world's most renowned cryptocurrency exchanges.
OKEx Cryptocurrency Exchange
Bank transfer, Cryptocurrency, iDEAL, PayPal, POLi, SEPA, Faster Payments (FPS)
USD, CNY, EUR, ARS, AUD, BGN, BRL, CAD, CHF, COP & 20+ more

295
cryptocurrencies

Earn US$10 in BTC when you refer a friend and they purchase $100 of cryptocurrency. T&Cs apply.
Listing over 100 cryptocurrencies, OKEx offers its users a variety of payment methods and coins to choose from.
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Note: Most exchanges require you to complete a Know Your Customer (KYC) process in order to purchase any cryptocurrency. This is typically the case with regulated exchanges.

Step 2: Fund your account

Cryptocurrency exchanges will allow you to fund your account with fiat currencies such as EUR, AUD, USD and CAD. After your account has been funded, you will be able to purchase Shiba Inu (SHIB). Additionally, exchanges provide multiple ways to fund your account with fiat currency. Methods range from wire transfer to SWIFT and credit card purchases. Check out the deposit methods for the exchange that you decide to use to buy SHIB.

Note: Purchases using credit cards have higher fees than other deposit methods. Double-checking the fees associated with the deposit method can save you money when you decide to fund your account to purchase SHIB.

Step 3: Buy SHIB

The process for buying SHIB is similar to buying any other cryptocurrency listed on exchanges. You will either be given an "instant buy" option or an exchange interface for trading currencies. The instant buy option is much easier for newcomers to understand, as it simply requires you to enter the amount of fiat currency you wish to spend and the currency you wish to buy. The exchange interface gives you much more control over orders and will typically charge you less fees than the instant buy option.

Note: Be sure to double-check the transaction details. Details worth checking are the amount of SHIB you will be buying and the fees associated with the transaction.

The risks of buying SHIB:

  1. Shiba Inu (SHIB) is an ERC20 token created on the Ethereum network. In order to use Shiba Inu for its intended use case (transactions, currency, charity, DeFi), fees must be paid in ETH. While fees are still high for transacting on Ethereum, sending ERC20 tokens such as SHIB is relatively expensive (USD$15+ for a single transaction).
  2. Shiba Inu was created in August 2020, so it is a relatively young coin. Because of this, early investors have had the opportunity to become quite rich due to their ability to acquire large percentages of the total supply. This skewed coin distribution creates an ideal set-up for a "rug pull". Large bag holders may dump their tokens on the market, leaving later market participants to hold their coins at a loss.
  3. Shiba Inu falls into the category of being a memecoin. The price of SHIB is only as resilient as the hype and the attention it is getting on social media. When the hype and attention goes away, so does the price momentum.

Keeping SHIB safe in a wallet

After purchasing any cryptocurrency, you may want to move it into a wallet you control for long-term safekeeping. Since SHIB is an ERC20 token, it can be stored in any wallet capable of storing ETH, such as MetaMask (browser wallet) or Trezor (hardware wallet). Check out our page on Shiba Inu wallets for more information on how to keep your SHIB safe in a cryptocurrency wallet.

Frequently asked questions about buying SHIB

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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