Do not invest unless you are prepared to lose all the money you invest. Cryptoassets are high-risk investments, and you should not expect to be protected if something goes wrong. Take two minutes to learn more. Additionally, capital gains tax may apply to profits from cryptocurrency sales.

How to Buy Shiba Inu Coin (SHIB)

Updated On: Oct 9, 2023
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How to Buy Shiba Inu Coin UK

Contents:

How to Buy Shiba Inu Coin in the UK

You can buy Shiba Inu Coin in the UK from crypto exchanges, such as eToro, CoinJar, and Uphold.

Follow the steps below to buy and store Shiba Inu securely:

  1. Create an account with a crypto exchange: To buy Shiba Inu coin, you need to open an account with a crypto exchange. Different exchanges will offer their own set of features, benefits and charges. They will all allow you to buy and sell different cryptocurrencies, with the most popular, such as Bitcoin, Ethereum, Dogecoin, and Shiba Inu coin, available on all of the major exchanges. Scroll down to see a list of some of the exchanges that allow you to buy Shiba Inu coin in the UK. To open an account with one of them, you will need to provide a valid ID and some basic personal information.

  2. Add a payment method: This can usually be done with a debit card, a bank transfer or by linking your bank account directly with the exchange.

  3. Choose and configure your wallet: Keeping your digital currency in your own wallet means you are in control. In the past, there have been instances of crypto exchanges being hacked or going bankrupt. Having your own wallet adds an extra layer of protection to your assets. The Shiba Inu coin is an ERC20 token, so it can be stored on any Ethereum-based wallet. Examples of Ethereum-based wallets include Coinbase Wallet and MetaMask Wallet.

  4. Buy Shiba Inu coin: Once this is all set up, you can buy Shiba Inu on the exchange. Simply type the ticker symbol ‘SHIB’ into the search bar of your chosen crypto exchange to find Shiba Inu Coin. Once you locate the coin, you may buy SHIB tokens at the current market price or set a limit to automatically purchase the token once it reaches your target price.

  5. Transfer your Shiba Inu coins to your crypto wallet: Now that you own Shiba Inu coins, you can transfer them to your new wallet. If you want to sell the tokens in the future, simply transfer them back to the exchange to sell them.

Where to Buy Shiba Inu Coin

We’ve compiled a list of the best places to buy Shiba Inu coin in the UK. These are crypto exchanges, wallets, apps and websites where you can buy Shiba Inu coin, Dogecoin, Bitcoin, Ethereum, Solana, Cardano and other cryptocurrencies in the UK.

Each platform offers its own set of unique features and benefits. Although many of these platforms are highly regarded, it is important to remember that cryptocurrency is unregulated in the UK and can be highly volatile. It is possible to lose all of the money you invest in crypto.

Here are the best places to buy Shiba Inu coin in the UK:


eToro - Good for beginners and experts; 70+ Cryptocurrencies

eToro Logo
Minimum Deposit
US$100 (£80)
Trading Fees
1%
Withdrawal Fees
US$5 (£4)
FX Fees
Yes
FCA Registered
Yes

eToro is a multi-asset trading platform that enables you to trade or invest in cryptocurrencies, NFTs, stocks, ETFs, commodities, forex, and indices, directly or via contracts for difference (CFDs). With eToro, you can trade over 70 “real” cryptocurrencies, including popular coins like Bitcoin, Ethereum, XRP, Binance Coin (BNB) and Dogecoin.

Crypto trading on eToro is suitable for both beginners and advanced traders. Beginners can benefit from the educational materials, user-friendly desktop and mobile apps and copy trading tools (which allow you to copy the trades of top-performing crypto traders on the eToro platform). Advanced traders can take advantage of the superior charting and analytics tools, staking service, social trading feature, and real-time crypto market news and insights. You can also benefit from eToro’s risk management tools, such as Stop Loss, Take Profit and Trailing Stop Loss, to better manage your positions, protect your investments and secure your profits. Stop Loss and Take Profit are not guaranteed.

It is entirely free to open an account with eToro, and all registered users receive a US$100,000 demo account for free, which you can use to practise buying crypto and other assets before committing real money. eToro does not charge a deposit fee but charges a 1% trading fee on all crypto positions. Trading on eToro occurs in USD, so a conversion fee will apply if you deposit or withdraw in a currency other than USD. Withdrawals incur a fee of US$5 (£4), and the minimum withdrawal amount is US$30 (£24). For UK customers, eToro offers an eToro Money app which allows you to convert your GBP to USD free of charge, thereby reducing your foreign exchange costs. The app also functions as a crypto wallet for storing your crypto holdings and allows for easy transfer of your cryptocurrency from one exchange or wallet to another.

Please note: Do not invest unless you are prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take two minutes to learn more. Additionally, 80 - 90% of retail investor accounts lose money when trading CFDs with this provider. Copy Trading does not amount to investment advice.

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CoinJar - Ready-made crypto portfolios; 50+ Cryptocurrencies

CoinJar logo
Minimum Deposit
£10
Trading Fees (Maker/Taker)
0.10% - 0.00% /
1%
Withdrawal Fees
No
FX Fees
No
FCA Registered
Yes

CoinJar is a cryptocurrency app and exchange based in the UK and Australia. With CoinJar, you can trade or invest in 50+ cryptocurrencies, including popular coins such as Bitcoin, Ethereum, XRP, USD Coin, Dogecoin and Shiba Inu Coin. The CoinJar app, which doubles as a crypto wallet, allows you to buy, sell, hold, spend and transfer cryptocurrencies securely on your desktop, iOS or Android device. The CoinJar card lets you make purchases with your crypto, online and in-store, anywhere Mastercard is accepted. It is free to activate the CoinJar card, and there are no monthly fees for using it. When paying with the card, your crypto is automatically converted to fiat currency using CoinJar’s best rates at the time of the transaction. You can choose to have a virtual or physical card or both. The CoinJar card is fully integrated with Google Pay, so Android users can spend crypto instantly and securely with any device.

CoinJar has a unique feature called a Crypto Bundle. A Crypto Bundle is a themed basket of cryptocurrencies, similar to a crypto index fund, crypto ETF or a ready-made stock portfolio. For example, you can buy a CoinJar Universe bundle, which is a portfolio of all the cryptocurrencies available on CoinJar. One investment into such a bundle means you have invested in every cryptocurrency available on CoinJar with just a click of a button. Crypto Bundles can either be proportional, where the weight of each cryptocurrency in a bundle is equal or cap-allocated, where the weights are allocated based on market cap performance.

CoinJar is suitable for both beginners and advanced traders. Beginners can take advantage of the easy-to-use app and ready-made crypto portfolios, while advanced and professional traders can take advantage of CoinJar’s institutional-grade crypto solutions, such as the CoinJar OTC, with razor-thin spreads and globally sourced liquidity. The minimum deposit to open an account with CoinJar is £10. Deposits are made in GBP, so FX fees do not apply. There is a trading fee of 1% on the CoinJar mobile app and website. The CoinJar Exchange (for market orders and aggressive limit orders) charges 0.00% for Taker orders and 0.10% - 0.04% for Maker orders (limit orders).

Please note: Do not invest unless you are prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take two minutes to learn more. Cryptoassets are not regulated by the FCA and are not subject to protection under the FSCS or within the scope of jurisdiction of the Financial Ombudsman Service. Capital gains tax may apply to profits from cryptocurrency sales.

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Uphold - Crypto card; Cheap forex rates; 250+ Cryptoassets

Uphold Logo
Minimum Deposit
US$1 (£0.80)
Trading Fees
0.90% - 1.20%
Withdrawal Fee
US$3.99 (£3.22)
FX Fees
Yes
FCA Registered
Yes

Uphold is a beginner-friendly cryptocurrency exchange that allows you to buy and sell over 250 cryptocurrencies, including majors, altcoins and emerging tokens such as Bitcoin, Ethereum, XRP, Dogecoin, Polkadot, ApeCoin, PancakeSwap and Audius. Users can also buy and sell up to 3 national currencies, including GBP, EUR and USD and enjoy competitive forex rates. Uphold offers a free virtual crypto card that allows you to spend your crypto anywhere a Mastercard is accepted. With the Uphold crypto card, you receive up to 1% cashback on your card transactions paid to you in GBP. The card has no transaction fees when spending locally or internationally and can be easily linked to Apple Pay or Google Pay.

As an Uphold customer, you can earn staking rewards when you put your digital assets to work. Currently, customers can earn up to 13% APY. Please keep in mind that staking rates are variable and may change at Uphold’s discretion. Uphold offers crypto wallets for up to seven cryptocurrencies and crypto networks. Customers can store their crypto in the Uphold Bitcoin Wallet, Ethereum Wallet, XRP Wallet and many more. With Uphold, you can schedule regular transactions using AutoPilot, which allows you to set up recurring buy or sell orders and reduce the impact of price volatility. As an Uphold customer, you can also take advantage of the limit order feature, which allows you to buy or sell a cryptocurrency at a specified price. Customers can place up to 50 limit orders using one pool of capital.

There are multiple fees involved when trading crypto on Uphold. The most important fees to look out for are trading fees, FX fees, and market spreads. In the UK, US and Europe, Uphold charges a market spread ranging from 0.9% to 1.2% on BTC and ETH. Spreads can be significantly higher for low-liquidity cryptos and tokens such as XRP, ZIL, OXT, UPT, DOGE and others. You will be able to see the total cost of your trade before you place the trade. Uphold charges a withdrawal fee of $3.99 for bank transfers and $2.99 for crypto transfers. Visit Uphold to learn more.

Please note: Do not invest unless you are prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take two minutes to learn more. Cryptoassets are not regulated by the FCA and are not subject to protection under the FSCS or within the scope of jurisdiction of the Financial Ombudsman Service. Capital gains tax may apply to profits from cryptocurrency sales.

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Coinbase - Beginner friendly; Crypto card; 240+ Cryptoassets

Coinbase logo
Minimum Deposit
£0
Trading Fees (Maker/Taker)
0.40% - 0.00% /
0.60% - 0.05%
Withdrawal Fees
No
FX Fees
No
FCA Registered
Yes

Coinbase is a cryptocurrency exchange that allows you to buy, sell and hold cryptocurrencies, NFTs, and other DeFi products and keep track of them in one place. With Coinbase, you have over 240 cryptocurrencies to choose from, including popular coins and tokens like Bitcoin, Ethereum, USD Coin, Tether, Dogecoin and Polygon. You can also trade new or rare coins that may not be available on other crypto exchanges. New cryptocurrencies are added to the Coinbase exchange as frequently as every few days.

Coinbase also gives you access to a self-custody crypto wallet where you can store all your crypto and NFTs in one place. The Coinbase Wallet also supports hundreds of thousands of tokens and dApps, and users can use DeFi liquidity pools to supply or borrow crypto and swap assets on decentralised exchanges. Coinbase offers a crypto card powered by an FCA-licensed e-money institution. With the Coinbase card, you can spend crypto like cash anywhere Visa cards are accepted. If you are interested in learning about how specific cryptocurrencies work, you can take advantage of Coinbase’s earn feature, which rewards you with a tiny bit of crypto for completing online courses on cryptocurrencies. The Coinbase desktop and mobile apps are beautifully designed, easy to use and offer a range of products suitable for beginners, advanced crypto traders and businesses.

There are multiple fees involved when trading crypto on Coinbase. Fees are calculated at the time you place your order and may be determined by a combination of factors, including the selected payment method, the size of the order, and market conditions such as volatility and liquidity. For basic trading, fees will be listed in the trade preview screen before you submit your transaction and may differ for similar transactions. For advanced trading, Coinbase charges a Maker fee ranging from 0.40% to 0.00% and a Taker fee ranging from 0.60% to 0.05%, depending on the size of your order. The larger the order size, the smaller the fee on a percentage basis. Coinbase also offers commission-free USDC trading.

Please note: Do not invest unless you are prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take two minutes to learn more. Cryptoassets are not regulated by the FCA and are not subject to protection under the FSCS or within the scope of jurisdiction of the Financial Ombudsman Service. Capital gains tax may apply to profits from cryptocurrency sales.

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Kraken - Low cost; Staking rewards; 200+ Cryptocurrencies

Kraken logo
Minimum Deposit
US$10 (£8)
Trading Fees (Maker/Taker)
0.20% - 0.00% /
0.26% - 0.001%
Withdrawal Fees
Yes
FX Fees
Yes
FCA Registered
Yes

Kraken is a crypto exchange that allows you to trade and invest in over 200 cryptocurrencies, including Bitcoin, Ethereum, Tether, XRP, USD Coin, and Litecoin. The platform is robust and will accommodate the needs of both beginners and experienced crypto traders. Beginners or newbie crypto traders can benefit from Kraken’s slick and easy-to-navigate mobile apps, wide range of educational materials, and 24/7 customer support. Advanced traders can take advantage of Kraken Pro, which provides access to spot, margin, futures trading, and staking in an all-in-one powerful interface that boasts low spreads and deep liquidity across markets. Advanced traders can also benefit from Kraken’s risk management tools, including Limit, Market, and Advanced (Stop Loss and Take Profit) Orders, to better manage positions, protect investments and secure profits.

Kraken allows you to earn staking rewards when you put your cryptocurrencies to work. Currently, customers can earn up to 24% in rewards annually by staking digital assets with Kraken. Please keep in mind that this rate is subject to change and compliance with Kraken’s terms and conditions. Additionally, to help customers feel more secure about trading on Kraken, the platform regularly publishes its proof of reserves audits, making it easy for customers to verify that the balances they hold are backed by real assets.

It is entirely free to open an account with Kraken. However, your first trade must be worth at least US$10 (£8). Kraken charges multiple fees depending on the assets you buy and how you choose to trade: If you trade via the mobile app using the basic features, a Maker fee ranging from 0.20% to 0.00% and a Taker fee ranging from 0.26% to 0.001% will apply, depending on the type and size of your order. The larger the order size, the smaller the fee on a percentage basis and vice versa. Other fees such as withdrawal, FX, and instant buy fees may apply.

Please note:
Do not invest unless you are prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take two minutes to learn more. Cryptoassets are not regulated by the FCA and are not subject to protection under the FSCS or within the scope of jurisdiction of the Financial Ombudsman Service. Capital gains tax may apply to profits from cryptocurrency sales.

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Ways to Buy Shiba Inu Coin in the UK

There are many different ways to fund your crypto exchange of choice. Once you have set it up, there will be a zero balance until you add funds to the account. You need to have a positive balance on the platform to be able to buy Shiba Inu or other cryptocurrencies.

Some of the most popular ways to add cash to an exchange include using your debit card or via bank transfer. These allow you to transfer existing money from your bank account to cash on the platform, which can then be used to purchase Shiba Inu.

Many platforms will also accept other payment types, such as PayPal or e-money transfer services, such as Neteller and Skrill.

Another common method of funding your exchange account is by transferring existing crypto. This could be from another exchange or an existing wallet, but it is vital to check that the exchange you are transferring to supports the currency you are trying to transfer.

What Is Shiba Inu Coin?

Within the world of crypto, there are many niches and sub-niches of coins, tokens, projects and protocols. Among these, one of the most surprisingly popular subsectors of the crypto economy is the so-called ‘dog coins’.

These are blockchain currencies which have been named after cute dogs, with the Shiba Inu breed becoming the unofficial mascot for dog-themed coins worldwide.

The trend stems from the original memecoin, Dogecoin, which featured a Shiba Inu dog as its logo and mascot. Since then, dozens of similar coins or tokens have been launched, including Dogelon Mars, Baby Dogecoin, Kishu Inu and, of course, Shiba Inu.

Of these dog coins, Shiba Inu is the only one that has even come close to rivalling Dogecoin’s market cap, and right now, it sits at #14 on the list of coins by total value, according to CoinMarketCap. This is behind Dogecoin at #8 but ahead of big-name coins and tokens such as UniSwap, Litecoin, Bitcoin Cash and ChainLink.

Shiba Inu coin is a decentralised cryptocurrency on the Ethereum blockchain. While it is commonly known as a coin because it does not use its own blockchain, it is actually an Ethereum-based token.

Shiba Inu coin was created in August 2020 as a satirical project based on Dogecoin. Since its inception, it has been considered a memecoin, but that has not stopped it from experiencing a massive price rise over the years.

As of September 2023, the market cap of Shiba Inu Coin is just over £3 billion. That is roughly half the size of Dogecoin and around 3.3% the value of Ethereum, on whose blockchain it is based.

Shiba Inu trades at a very low price per token, but that is because there are a very large number of them. The total supply of Shiba Inu is one quadrillion. Not a billion, not a trillion, but a quadrillion. That is a lot of puppies.

How Does Shiba Inu Coin Work?

As with most cryptocurrencies, Shiba Inu works by storing all transactions on a public ledger known as a blockchain. This is decentralised, as there is no trusted third party in the middle of all of these transactions.

In traditional finance, transferring money from one person or company to another means going through a ‘middleman’ such as a bank. With Shiba Inu coin and other decentralised currencies, the transfer is approved by the consensus of multiple parties (often referred to as nodes) rather than a single entity. 

In theory, this means that no one company or group of companies control the flow of money, but rather the community as a whole. 

Because Shiba Inu is on the Ethereum blockchain, it follows the same rules. It used an approval process known as Proof of Work but recently transitioned to Proof of Stake. As mentioned above, Shiba Inu has a fixed supply but is massive at one quadrillion tokens. 

At its launch, half of the total supply was sent to a wallet owned by Ethereum founder Vitalik Buterin. He has since gifted or ‘burned’ all of these coins.

What Is Shiba Inu Coin Used for?

Shiba Inu can be used for transferring value between individuals, and technically, it can also be used to purchase goods and services. While payment networks facilitate this in the US, in the UK, very few businesses accept Shiba Inu as payment. 

Realistically, Shiba Inu isn’t used for much other than speculation at this point. Even the creators of the token acknowledged that it was a meme to rival Dogecoin, with investors buying in on the hope of the price increasing.

Why Buy Shiba Inu Coin?

Most people who purchase Shiba Inu Coin are looking to make a profit on their purchase. Unlike stocks and shares, Shiba Inu doesn’t pay any dividends, so investors rely on capital gains in order to generate a profit.

Obviously, this is by no means guaranteed, and Shiba Inu and all other cryptocurrencies can be very volatile.

It’s also worth keeping in mind that any capital gains you make from buying and selling Shiba Inu are potentially liable for capital gains tax.

What Is the Shiba Inu Coin Blockchain?

Shiba Inu uses the Ethereum blockchain to lodge all of its transactions. This is a key difference from Dogecoin, which operates its own blockchain to store past transactions.

Because Shiba Inu uses the Ethereum blockchain, it must follow the rules and processes used by Ethereum. This includes a recent major change with Ethereum moving from Proof of Work to Proof of Stake, in a process known as ‘The Merge’.

Is Shiba Inu Safe?

Shiba Inu is now a mid-cap cryptocurrency, and by the end of 2021, it had achieved 26,000,000% growth, but it has since crashed back down to Earth. Much of its meteoric price rise over recent years has been down to hype and memes. That’s not unusual in the crypto space, but it also means that the value of Shiba Inu isn’t underpinned by any fundamentals.

With this in mind, it is likely that Shiba Inu will remain a very volatile asset for the foreseeable future. For investors with a short-term horizon, Shiba Inu is likely to be an unsafe choice. The risk is lower for investors who have a longer investment timeframe, but this doesn’t guarantee a positive return on investment. You could also lose all you invest, as with all cryptocurrencies.


Frequently Asked Questions

1. How do I buy Shiba Inu in the UK?

To buy Shiba Inu in the UK, you need to:

  1. Create an account with a crypto exchange, such as eToro or CoinJar.
  2. Fund your account with GBP using your debit card or via bank transfer.
  3. Research Shiba Inu and other cryptocurrencies.
  4. Buy Shiba Inu (SHIB) with GBP using the crypto exchange’s web or mobile app.
  5. Choose and configure a Shiba Inu wallet, such as the MetaMask Wallet.
  6. Transfer your Shiba Inu to your wallet for safekeeping.

2. Where can I buy Shiba Inu coin?

Here are the best places to buy Shiba Inu coin in the UK:

  1. eToro - Good for beginners and experts; 70+ Cryptocurrencies
  2. CoinJar - Ready-made crypto portfolios; 50+ Cryptocurrencies
  3. Uphold - Crypto card; Cheap forex rates; 250+ Cryptoassets
  4. Coinbase - Beginner friendly; Crypto card; 240+ Cryptoassets
  5. Kraken - Low cost; Staking rewards; 200+ Cryptocurrencies


3. How much is one Shiba Inu coin?

The current price of one Shiba Inu coin is £0.000005666. You can find the live price of one Shiba Inu Coin at any point in time on CoinMarketCap.

4. How many Shiba Inu coins are there?

The total supply of Shiba Inu is one quadrillion. However, roughly half of the total supply was gifted to Vitalik Buterin (the co-founder of Ethereum).


5. When will Shiba Inu reach one cent?

It’s unlikely that Shiba Inu will ever reach 1 cent. Multiplying this by the circulating supply of Shiba Inu would mean a market cap of almost $4 trillion. That’s ten times the size of Bitcoin and nearly double that of the most valuable public company in the world, Apple.


6. Who owns the Shiba Inu coin?

No one person or organisation owns Shiba Inu coin. Because it is decentralised, it is not controlled or operated by one person but by the entire network in a decentralised manner.

7. Is Shiba Inu a good investment?

It is possible to generate large capital gains on cryptocurrency, including Shiba Inu. However, the asset class is unregulated and highly volatile, meaning there are significant risks involved with investing in the Shiba Inu coin.


8. Can I buy Shiba Inu in the UK?

Yes, you can buy Shiba Inu in the UK from crypto exchanges, such as eToro and CoinJar.

9. Where will the Shiba Inu coin be in 5 years?

It is impossible to know for sure where the Shiba Inu coin will be in five years. As a memecoin with very little fundamental value, the potential outcomes are very wide. It could lose all of its value and go to zero, or the hype could pick up, and it could soar higher than ever before. Investors should only put money into Shiba Inu that they can afford to lose.


10. Where is the safest place to buy Shiba Inu coin?

Here are the best apps to buy Shiba Inu coin in the UK:

  1. eToro - Good for beginners and experts; 70+ Cryptocurrencies
  2. CoinJar - Ready-made crypto portfolios; 50+ Cryptocurrencies
  3. Uphold - Crypto card; Cheap forex rates; 250+ Cryptoassets
  4. Coinbase - Beginner friendly; Crypto card; 240+ Cryptoassets
  5. Kraken - Low cost; Staking rewards; 200+ Cryptocurrencies


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