Please keep in mind that cryptoassets are highly volatile unregulated investment products with no UK or EU investor protection. You could lose all the money you put into them. Capital gains tax may apply to profits from cryptocurrency sales.

How to Buy Shiba Inu Coin (SHIB)

Updated On: Nov 21, 2022
How to Buy Shiba Inu Coin UK

Contents:

How to Buy Shiba Inu Coin in the UK

You can buy Shiba Inu Coin from crypto exchanges such as Coinbase, Uphold or eToro.

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

  1. Sign up to your chosen exchange: To buy Shiba Inu, you need to sign up to 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 sign up to 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 some of the best platforms 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 into crypto.

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


eToro - Live prices; Wallet; Advanced trading tools; Popular coins

eToro Logo
Minimum Deposit
US$10 (£8)
Trading Fees
1%
Withdrawal Fees
Green check mark indicating yes
FX Fees
Green check mark indicating yes
FCA Registered
Green check mark indicating yes

eToro is a multi-asset trading platform that offers both investing in stocks and crypto assets, as well as trading CFDs. With eToro, you have over 120 cryptocurrencies to choose from, including popular coins like Bitcoin, Ethereum, Tether, XRP, Binance Coin (BNB) and Solana. 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 practice buying crypto and other assets before committing to them. 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, and the minimum withdrawal amount is US$50.

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 wallet for storing your crypto holdings and allows for easy transfer of your cryptocurrency from one exchange or wallet to another. In addition to cryptocurrencies, eToro offers other products, including 0% commission stocks.

Please note: Cryptoassets are highly volatile and unregulated in the UK. There is no consumer protection, and tax on profits may apply. Your capital is at risk. Additionally, 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

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Coinbase - Good for beginners; Live prices; Wallet; Popular coins

Coinbase logo
Minimum Deposit
£0
Trading Fees (Maker/Taker)
0.50% - 0.00% / 0.50% - 0.04%
Withdrawal Fees
Green check mark indicating yes
FX Fees
Green check mark indicating yes
FCA Registered
Green check mark indicating yes

Coinbase is a cryptocurrency exchange that allows you to buy, sell and earn popular digital currencies, and keep track of them in one place. With Coinbase, you have over 500 cryptocurrencies and other digital assets to choose from, including popular coins and tokens like Bitcoin, Ethereum, USD Coin, Tether, Dogecoin and Cardano. You can set up recurring trades and invest in cryptocurrency slowly over time by scheduling buys daily, weekly, or monthly. You can also track your trades and monitor market movements via the web app or iOS and Android mobile apps. The Coinbase Wallet allows you to store all your crypto and NFTs in one place, trade 500+ assets on DEXes and earn interest.

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.

Please note: Cryptocurrency is not regulated by the Financial Conduct Authority (FCA) and is not subject to protection under the Financial Services Compensation Scheme or within the scope of jurisdiction of the Financial Ombudsman Service. Investing in cryptocurrency comes with risk and cryptocurrency may gain in value, or lose some or all value. Capital gains tax may apply to profits from cryptocurrency sales.

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Uphold - Good for beginners; Cheap Forex rates; Crypto wallet

Uphold Logo
Minimum Deposit
£0
Trading Fees (Maker/Taker)
1.25% - 0.85% / 1.25% -  1%
Withdrawal Fee
Red cross mark indicating no
FX Fees
Green check mark indicating yes
FCA Registered
Green check mark indicating yes

Uphold is a beginner-friendly cryptocurrency exchange that allows you to buy and sell over 90 cryptocurrencies and utility tokens, including majors, altcoins and emerging tokens. You can also buy and sell up to 3 national currencies, including GBP, EUR and USD. 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. Uphold also lets users withdraw funds to bank accounts in 36 countries or to private wallets on five crypto networks - instantly and fee-free. Uphold currently has over 2 million customers worldwide.

There are multiple fees involved when trading crypto on Uphold. Fees are calculated at the time you place your order, so the price you see before your trade is the same price you pay when you trade. The most important fees to look out for are trading fees, FX fees, and market spreads.

Promo: Trade Bitcoin free of charge (no deposit fees, trading fees or commissions) from 5 Oct 2022 to 5 Jan 2023. Terms apply.

Please note: Cryptoassets are highly volatile unregulated investment products with no UK or EU investor protection. Your capital is at risk.

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CoinJar - Live prices; Crypto wallet; Crypto card; Beginner-friendly

Minimum Deposit
£10
Trading Fees
1%
Withdrawal Fees
Red cross mark indicating no
FX Fees
Red cross mark indicating no
FCA Registered
Green check mark indicating 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 and USD Coin. Customers can buy, sell, hold or spend cryptocurrencies via the CoinJar app and wallet. The CoinJar Card lets you make purchases with your crypto, online and in-store. It’s free to activate, and there are no monthly fees for using the card. You also earn CoinJar Rewards every time you spend with your card. CoinJar is suitable for both beginners and advanced investors.

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 0.04 - 0.1% for maker orders (limit orders).

Please note: Cryptoassets are highly volatile unregulated investment products with no UK or EU investor protection. Your capital is at risk.

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Gemini - Live prices; Crypto wallet; Beginner-friendly

Gemini Logo
Minimum Deposit
£0
Trading Fees (Maker/Taker)
0.25% - 0.00% / 0.35% - 0.03%
Withdrawal Fees
Green check mark indicating yes
FX Fees
Green check mark indicating yes
FCA Registered
Green check mark indicating yes

Gemini, founded by Tyler and Cameron Winklevoss, is an easy-to-use cryptocurrency exchange suitable for both beginners and advanced crypto traders. Gemini makes it simple to research the crypto market, buy Bitcoin, Ethereum and 50+ digital currencies, and build a portfolio of cryptocurrencies and tokens. With Gemini, you can trade assets, manage your holdings, set recurring trades, dynamic price alerts and choose a default currency from GBP, USD, AUD, CAD, EUR, HKD and SGD. You can also track your trades and monitor market movements via the web app or iOS and Android mobile apps. UK customers can access the Gemini Exchange, which offers various beginner-friendly and advanced crypto trading tools. UK customers can also access the Gemini wallet, which lets you store all your assets in an insured hot wallet or institutional-grade cold storage system.

There are multiple fees involved when trading crypto on Gemini, including transaction fees, Maker-Taker fees and withdrawal fees, depending on whether you access the Gemini Exchange via the mobile app, web app or ActiveTrader interface. Gemini charges between £0.75 - 1.49% for mobile and web app trades and Maker-Taker fees for orders placed via ActiveTrader.

Please note: Cryptoassets are highly volatile unregulated investment products with no UK or EU investor protection. Your capital is at risk.

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Coinsmart - Good for beginners; Advanced crypto trading tools

Coinsmart logo
Minimum Deposit
£0
Trading Fees
0.20% - 0.30%
Withdrawal Fees
Green check mark indicating yes
FX Fees
Green check mark indicating yes
FCA Registered
Red cross mark indicating no

Coinsmart is an easy-to-use crypto exchange on a mission to make cryptocurrency accessible to everyone. It is designed to be a simple crypto-trading platform that anyone can use and understand. With Coinsmart, you can buy and sell Bitcoin, Ethereum, Litecoin and other digital currencies quickly and easily on desktop and mobile. There are multiple fees involved when trading crypto on Coinsmart. Some of the fees include withdrawal fees (depending on your withdrawal method) and trading fees.

Promo: Get C$20 (~£12) in Bitcoin when you fund your account with a minimum of C$100 (~£63). Promo code: getcrypto.

Please note: Cryptoassets are highly volatile unregulated investment products with no UK or EU investor protection. Your capital is at risk.

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OKX - Beginner-friendly; Wallets, Advanced crypto trading tools

OKX Logo
Minimum Deposit
£0
Trading Fees (Maker/Taker)
0.08% - -0.005%/ 0.100% - 0.020%
Withdrawal Fees
Red cross mark indicating no
FX Fees
Red cross mark indicating no
FCA Registered
Red cross mark indicating no

OKX is one of the biggest crypto exchanges in the world, and it allows you to buy, sell and store hundreds of popular cryptocurrencies and altcoins. OKX users can trade Bitcoin, Ethereum, Tether, USD Coin, XRP, ADA, SOL, DOGE and many other popular cryptocurrencies. Users can also trade a wide range of DeFi cryptocurrencies such as Uniswap, AAVE, Maker, Synthetix and Compound, as well as NFT-related cryptocurrencies such as ApeCoin, FLOW, Chiliz and MANA (Decentraland). OKX allows you to buy crypto with GBP and over 30 other fiat currencies or with your existing cryptoassets. OKX has crypto trading tools for beginners, advanced traders and institutions. Users can also earn high yields, access new tokens early, join OKX’s mining pool, or use cryptoassets to take out low-interest loans.

OKX charges Maker-Taker fees for trades conducted on the exchange. These fees are different for regular and VIP users. Regular users are categorised into tiers by their total OKB holdings, whereas VIP users are categorised by 30-day trading volumes and daily asset balances. The trading tiers are updated daily.

Promo: Buy or deposit US$50 worth of crypto and get a Mystery Box.

Please note: Cryptoassets are highly volatile unregulated investment products with no UK or EU investor protection. Your capital is at risk.

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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 the 8th of November 2022, the market cap of Shiba Inu Coin is just over £6 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. 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.

2. Where can I buy Shiba Inu coin?

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

  1. eToro - Live prices; Wallet; Advanced trading tools; Popular coins
  2. Coinbase - Best for beginners; Live prices; Wallet; Popular coins
  3. Uphold - Good for beginners; Cheap Forex rates; Crypto wallet
  4. CoinJar - Live prices; Crypto wallet; Crypto card; Beginner-friendly
  5. Gemini - Live prices; Crypto wallet; Beginner-friendly
  6. Coinsmart - Good for beginners; Advanced crypto trading tools


3. How much is one Shiba Inu coin?

The current price of one Shiba Inu coin is £0.000008323. 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. Can I buy SHIB with GBP?

Yes, you can buy SHIB with GBP. Many UK-based cryptocurrency exchanges will allow you to purchase Shiba Inu coin using GBP directly.


8. Can I buy Shiba Inu in the UK?

Yes, you can buy Shiba Inu in the UK from crypto exchanges such as Coinbase, Uphold or eToro.

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 some of the best crypto exchanges in the UK to buy Shiba Inu coin:

  1. eToro - Live prices; Wallet; Advanced trading tools; Popular coins
  2. Coinbase - Best for beginners; Live prices; Wallet; Popular coins
  3. Uphold - Good for beginners; Cheap Forex rates; Crypto wallet
  4. CoinJar - Live prices; Crypto wallet; Crypto card; Beginner-friendly
  5. Gemini - Live prices; Crypto wallet; Beginner-friendly
  6. Coinsmart - Good for beginners; Advanced crypto trading tools


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