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How to buy Shiba Inu coin (SHIB)

Learn how to buy Shiba Inu on 6+ exchanges in our step-by-step guide.

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Shiba Inu (SHIB) capitalized on the memecoin trend in 2021 and developed a sizable cult following which propelled it to an all-time-high price of $0.00008616 in October 2021.

While this has helped make SHIB the #14 crypto by market cap, Shiba Inu is still a highly volatile asset capable of major price swings in a single day.

Today, SHIB is trading for $0.00001627, which is slightly down from yesterday's trading price of $0.0000160556. Shiba Inu has an increased by 109% over the past year.

So before you buy Shiba Inu, make sure you understand these unique risks as well as its legal, regulatory and tax status here in the US.

If you're ready to get started, read on for step-by-step instructions and a list of platforms you can use to buy Shiba Inu in the US.

How to buy Shiba Inu in 4 steps

To buy SHIB, all you'll need is a smartphone or computer, an internet connection, photo identification and a way to pay.

  1. Compare crypto exchanges
    The easiest way to buy Shiba Inu is from a cryptocurrency exchange. Comparing in the table helps you find a platform with the features you want, like low fees, ease of use or 24-hour customer support.
  2. Create an account
    To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
  3. Make a deposit
    Once verified, you can deposit USD using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
  4. Buy Shiba Inu
    You can now exchange your funds for Shiba Inu. On beginner-friendly exchanges, this is as simple as entering the USD or SHIB amount you want to purchase and clicking "buy". If you like, you can then withdraw your Shiba Inu to a personal wallet.

Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.

Where to buy Shiba Inu in the US

If this is your first time buying cryptocurrency look for a platform that accepts US dollars, like Gemini or Public.

Don't worry too much about extra features or coins for now – you can always sign up with another exchange later.

Use the table to choose a platform that meets your needs and click the Go to site button to get started.

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Kraken Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay, SWIFT, ACH online banking

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261

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Paybis Cryptocurrency Exchange
Bank transfer, Credit card, Debit card, Neteller

42

373

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Uphold - Digital Asset Platform
Bank transfer, Credit card, Debit card, Bank transfer (SEPA), Apple Pay, Google Pay

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252

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Gemini Cryptocurrency Exchange
Bank transfer (ACH), Cryptocurrency, Debit card, PayPal, Apple Pay, Google Pay, SWIFT

7

152

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Bank transfer, Cash, Debit card

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36

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What is Shiba Inu?

Shiba Inu (SHIB) is a meme coin launched in 2020 by an anonymous person or persons known only by the pseudonym, Ryoshi. It has since grown into one of the world's most well-known cryptocurrencies and has even been labelled as "The Dogecoin Killer".

The Shiba ecosystem is divided into multiple tokens – SHIB, LEASH and BONE – each with different functionality.

  • SHIB is the foundational cryptocurrency investors can trade on all popular crypto exchanges.
  • LEASH provides staking rewards for those validating transactions on the Ethereum blockchain, where the Shiba ecosystem operates.
  • BONE is used as a governance token to vote for network changes.

SHIB originally had 1 quadrillion authorised tokens. However, it has a deflationary supply, and many of these coins have since been burned.

Read our beginner's guide to how Shiba Inu works

What will I need to buy Shiba Inu?

To create an account with your chosen crypto platform, you only need an email address or mobile number. This will usually allow you to deposit cryptocurrency, but not USD.

If you want to buy Shiba Inu with US dollars, you'll need to pass a Know Your Customer (KYC) check.

This is a standard security procedure for most exchanges in the US and requires you to upload some photo ID, and in some cases a selfie with today's date.

KYC is usually approved instantly, but in rare cases, you may have to wait a few hours or days.

What are the best ways to buy Shiba Inu?

Once you've set up your account, you'll need to deposit funds to buy Shiba Inu with. We've listed some popular ways to buy SHIB and what you should know about each payment method.

What is the cheapest way to buy Shiba Inu?

Most exchanges let you buy as little as $5 worth of SHIB, if not less. Just type in how much you want to spend in USD and let the exchange work out the rest.

Some platforms only offer 1 way to buy Shiba Inu, while others provide several choices. The 2 most common ways to buy SHIB are on the spot market or with an "instant buy" feature.

Instant buy

If it's your first time buying Shiba Inu, this will be the fastest method – but also the least cost-effective.

The instant buy section is usually located under a "Buy now" heading on the platform you've chosen.

It should feature a simple interface that lets you enter the amount of Shiba Inu you want to buy or US dollars you want to spend.

This is usually the only option available for credit or debit card purchases, but you may also be able to make an instant buy if you've pre-funded your account with a bank transfer.

Be prepared to pay a markup on SHIB's market rate in exchange for the convenience.

Spot market

If you see colorful charts with a range of prices, you're probably in the spot market.

The spot market is where buyers and sellers come together to place bids for SHIB on the open market. It's usually the cheapest way to buy Shiba Inu because it lets traders set their own prices.

You'll find the spot market under a "Trade" or "Spot" heading on the site or app menu of the platform you've chosen to use.

There are several different order types that you can make on the spot market.

  • Market order. This will buy you the amount of Shiba Inu you specify at the lowest possible price available. This makes it like an instant buy order but with much lower fees.
  • Limit order. This is the most common order type and lets you purchase Shiba Inu at the price you specify. Traders use this to time the market and capitalize on price dips or increases.

How to find the best place to buy Shiba Inu in the US

There are dozens of different trading platforms to choose from when buying Shiba Inu in the US, so to help you find your best option, keep these factors in mind:

  • Where it's registered. Using a locally registered exchange is a good idea. It's more likely to accept US dollars and local payment methods , which helps avoid foreign exchange fees. Choosing from US-based exchanges also means it's likely to be registered with the Financial Crimes Enforcement Network (FinCEN), which means it has to comply with local laws in the US.
  • Security. Look at the security features the platform has to offer, like 2-factor authentication and PGP-encrypted emails. Cold storage of user funds is considered industry standard, but insurance funds are less common and indicate good security practices.
  • Fees. Check the fine print to find out exactly how much your transaction will cost. Depending on the platform you choose, these could include spreads, trading fees and deposit and withdrawal charges.
  • Transaction limits. Are there any minimum or maximum limits on the amount of Shiba Inu you can purchase? Does the exchange restrict the amount of funds you can withdraw from your account in any 1 transaction or 24-hour period?
  • Other platform features. Look out for other features that suit your investment or trading needs. For instance, many exchanges now let you earn yield on your holdings, while some issue crypto debit cards to help you spend your coins.
  • Customer support. If you ever have a problem with a transaction, will you be able to quickly and easily get in touch with the customer support team? Are they based in the US? Check what contact methods are available and find out how quick the team is at responding to enquiries.
  • Insurance fund. A small number of exchanges now insure user funds. Beware that policies vary greatly between exchanges, so you'll need to research this thoroughly if insurance is important to you.
  • Reputation. As a young industry, reputation can provide a lot of clues when choosing an exchange. For instance, who are the founders? Have there been any controversies? Are their business practices transparent? If you can't find any of this information, that may be a red flag.
  • Range of coins. If you're thinking about adding other cryptos to your portfolio in the future, check to see what other coins you can buy through the platform.
  • Read reviews. Finder's crypto exchange reviews include user feedback, which helps you get a better idea of what the exchange is like to use for other people starting just like you.

Why you should use a FinCEN-registered cryptocurrency exchange

Crypto exchanges founded and based in the US are required to register with the Financial Crimes Enforcement Network (FinCEN), a division of the US Department of the Treasury. This bureau safeguards the US financial system by working to prevent money laundering, terrorist-financing activity and other financial crimes.

FinCEN-registered exchanges contribute to a more secure financial system in the US and provide you with better consumer protections compared to exchanges based in other countries.

Other reasons for using a FinCEN-registered exchange may include the following:

  • They are subject to state-level regulation and laws.
  • They are more likely to offer US-based customer support.
  • They typically cover local payment methods such as ACH bank transfers and support transactions in US dollars (USD).

Recent Shiba Inu developments

2 November, 2023: Shiba Inu may be losing favour with memecoin traders, slipping to the 19th largest coin by market cap, and only rising by 8.6% over October while most other coins had double-digit gains.
3 October, 2023: Approximately US$17,173 worth of SHIB tokens were burned from 426 transactions in September, as part of the networks burn function.
1 September, 2023: Total Value Locked on Shibarium – a layer-2 blockchain part of the Shiba Inu ecosystem.

Is Shiba Inu safe to invest in?

You shouldn't invest in any asset, including SHIB, without doing plenty of research first. Before you buy Shiba Inu, make sure you understand and weigh up these risks:

  • Price volatility. Shiba Inu's price is largely based on speculation, which means it can rise or fall in a short time. It's not uncommon for SHIB to lose more than 10% of its value in a single day.
  • Perceived value. SHIB is a unique asset that does not have any tangible value. It derives most of its value from utility and speculation.
  • Exchange vulnerabilities. Leaving your Shiba Inu on a crypto platform exposes you to several counterparty risks, including:
    • Scams. Scammers frequently try to trick exchange users into handing over their username and password, often by phishing with malicious emails or fake website links. Use 2FA and encrypted emails to help protect your funds.
    • Hacks and theft. Exchanges are vulnerable to hacks and theft, so choose one with good security practices and a track record of safety.
    • Fiscal mismanagement. In mid-2022 a number of crypto platforms froze user funds after it was revealed they had engaged in irresponsible funds management.
    • Insurance. Unlike stocks, only a small handful of exchanges provide insurance on your cash deposits.
  • Regulatory uncertainty. The regulatory environment for Shiba Inu and other cryptos is constantly changing. It's important to understand how international rulings have the potential to impact Shiba Inu's future – for better or worse.
  • Novel technology. Shiba Inu was created in 2024, which makes it relatively new as a form of technology and as a currency. SHIB doesn't yet have the same track record or performance history as some other asset classes.
  • Technical learning curve. Evaluating the tech behind SHIB before you invest is important, but requires a deep understanding of the blockchain and other aspects of decentralized finance. Be prepared to do plenty of research.
  • Competitor projects. Shiba Inu was launched in August 2020 with no real objective in mind other than becoming the "Dogecoin (DOGE) killer". It has since tried to mature beyond memecoin status by introducing a decentralized exchange (DEX), ShibaSwap. Even so, other DEXs offer far more advanced ecosystems and services.
  • Community-driven. As a memecoin, the price of SHIB is largely dictated by its community and their efforts to send "Shiba to the moon". If the community hype starts to die down, the price will likely slump with it.
  • Macro environment. Economic uncertainty in 2024 has triggered a "risk-off environment" for investing. In times like these, many investors offload speculative investments. Most cryptos including SHIB are considered high-risk investments and prices are down significantly from 2021's highs.

Where could Shiba Inu's price be heading?

Finder's expert panel expects the token's value to continue to plummet and be worth $0.000002500 to close out 2025 and $0.000000325 by the end of 2030.

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Today's Shiba Inu price versus ATH

Compare today's price of Shiba Inu ($0.00001627 USD) against its all-time high (ATH) price of $0.00008616 USD on October 28, 2021. The closer the bar is to 100%, the closer SHIB is to reaching its ATH again.

Current price: $0.00001627
All-time high: $0.00008616
19%
81%

How is Shiba Inu taxed?

If you hold Shiba Inu as an investment, you'll be taxed on any capital gains you make when you sell it — which includes spending it on goods and/or services. In the US, tax obligations also apply to mining, professional Shiba Inu trading and in a range of other scenarios, so make sure you're fully aware of what you need to report to the IRS.

Learn more in our crypto tax guide or use our round-up of the best crypto tax software to make tax reporting easier.

After you've bought Shiba Inu

Once you own some SHIB, you have 2 options – keep it on an exchange or move it to a personal wallet. Each comes with its own set of pros and cons.

Keeping your Shiba Inu on an exchange

Pros
  • Convenience. Keeping your Shiba Inu on an exchange is convenient because you can buy and sell at any time.
  • Security. Holding Shiba Inu on an exchange does come with significant counterparty risks, but reputable platforms also invest heavily in security, so you don't have to worry about the pitfalls of self-custody.
  • Insurance. A small handful of exchanges now operate insurance schemes. These can range from insuring user deposits held in cold storage to reimbursing customers if a hack occurs.
  • Earn yield. Many exchanges let you earn yield on your Shiba Inu. This is done in 1 of 2 ways: the exchange will either stake your SHIB on your behalf, or lend it to other users. Each carries its own set of risks, though lending is generally associated with higher risk. Make sure you understand which method is being used to generate yield before handing over your assets.
Cons
  • Phishing. Exchange users are frequently targeted by scammers trying to steal login information through malicious emails and fake website links.
  • Hacking. Exchanges are major targets for hackers. While security practices have improved substantially, hacks still occur from time to time.
  • Account freezing. Exchanges have been known to occasionally freeze user accounts, whether due to security concerns, technical issues or market turbulence. This could see you temporarily lose access to your crypto.

Moving your Shiba Inu to a non-custodial wallet

Pros
  • Self-custody. A mantra repeated by crypto investors is "Not your keys, not your coins." This comes from the idea that the only way to guarantee ownership of your Shiba Inu is to own the private key — which isn't the case when you hold on an exchange.
  • Security. Shiba Inu and cryptocurrency wallets vary greatly in their features and security. For the most secure experience, consider purchasing a hardware wallet, which is usually a small USB device that keeps your private keys offline at all times for an extra layer of security.
  • Utility. If you plan to use your Shiba Inu for transactions, daily spending or decentralized finance (DeFi), then storing it in a wallet rather than an exchange will be more convenient.
  • Doggy DAO. By transferring your SHIB to a non-custodial wallet, you can interact with the on-chain Shiba Inu managed by the Doggy decentralized autonomous organization (DAO). You can stake tokens to earn rewards, provide liquidity to ShibaSwap and vote on network changes using BONE, Shiba's governance token.
Cons
  • Learning curve. It's no secret that learning how to use a crypto wallet takes some time and effort. Spend some time learning how Shiba Inu wallets work before transferring any of your funds.
  • Personal responsibility. Owning your own money can be liberating, but it also means the responsibility is all yours. If you lose your private key, the only way to regain access to your wallet is through the seed phrase. Make sure to store both of these privately and securely.
  • Inheritance. A challenge presented by crypto wallets is how to pass access on in the event of death or disability. Several companies are experimenting with ways to solve this problem, like the Trezor Model T wallet's Shamir backup feature.
  • Smart contract risk. Shiba encourages engagement with Web3 applications, such as ShibaSwap and Doggy DAO. Using Web3 apps comes with additional risks, such as interacting with faulty or malicious smart contracts. This can result in the loss of funds. Depending on the type of breach, it may extend to all of the assets in your Ethereum wallet, not just SHIB.

Bottom line

If you want to buy Shiba Inu, start by comparing a range of crypto brokers and exchanges available in the US. Look at their features, fees, security and overall reputation to decide which platform is right for you. Use an exchange registered with FinCEN for added peace of mind.

Remember that owning and using Shiba Inu is not without its risks. Carefully consider investing in SHIB as part of a wider strategy, and talk to a financial advisor if you have any questions.

Once you've bought some SHIB, think about your short and long-term goals. This will help you decide whether to keep it on an exchange or move it to your own wallet.

FAQs

Is Shiba Inu a good buy?

There's a common misconception in crypto that the highest-priced coins are the most valuable, but that's not always the case. Market cap – circulating supply multiplied by the token price – is much more important to take into consideration.

This is especially important when evaluating a project like Shiba Inu that has 589261956552292.6 tokens in its circulating supply and a lot of investors holding millions or even billions of SHIB.

Take a look at our expert panel's price prediction for SHIB through 2030 to help you to get a better idea of whether Shiba Inu is a good buy. Weigh this alongside its unique set of risks.

Where could you first buy Shiba Inu?

SHIB was originally listed on Uniswap in August 2020 by a pseudonymous developer known as Ryoshi.

At the time, it had very little trading volume and was largely unheard of. The token gained traction after being coined the DOGE Killer, gaining over 41,000% in months.

What exchanges can I buy Shiba Inu on?

Shiba Inu (SHIB) can be purchased on 15+ exchanges in the US, including Gemini and Public.

You can browse the full range in our comparison table.

How to buy other cryptos


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Binance Cryptocurrency Exchange
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KuCoin Cryptocurrency Exchange
KuCoin Cryptocurrency Exchange
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Bybit Cryptocurrency Exchange
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Gate.io Cryptocurrency Exchange
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8

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Kraken Cryptocurrency Exchange
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OKX Cryptocurrency Exchange
Bank transfer, Cryptocurrency, iDEAL, PayPal, POLi, SEPA, Faster Payments (FPS)

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Disclaimer: Cryptocurrencies, including Shiba Inu, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of SHIB 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 Shiba Inu or any other cryptocurrency discussed.

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Editor

James Edwards was the global cryptocurrency editor at Finder. He coordinates a distributed team of journalists to help further Finder's mission of helping people make better financial decisions. He has been using Bitcoin since 2013 and began working in the industry in 2017. He takes pride in boiling down complex topics into language his parents can understand. His expertise has seen him called on to report at events such as TechCrunch Disrupt, CoinDesk Consensus and IBM Think and has coordinated a vast number of high-profile interviews with the industry's brightest minds. He is a regular contributor to Nasdaq, The Street and is frequently called upon for market commentary in Australia and abroad. See full bio

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Co-written by

Cryptocurrency writer

Billy Endres was a cryptocurrency writer for Finder. His background in software development helped open the door to the world of decentralised technologies, financial markets and technical writing. See full bio

Billy's expertise
Billy has written 11 Finder guides across topics including:
  • Web3 and decentralised technologies
  • Front-end development
  • Cryptocurrency futures trading and technical analysis
  • DeFi and on-chain analysis

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