You’ve probably been hearing a lot about Shiba Inu Coin lately. It’s being touted as a bigger, better, badder Dogecoin … and in some ways it is.
But if you’re wondering how to buy Shiba Inu coin tokens, you probably ended up a little confused. The other methods (which we’ll look at in another blog post) are either super complicated or very time-consuming. Sometimes both.
However, with the launch of SHIB coins at Coin Cloud machines, trading them just got a lot easier! Not to mention faster.
Where Can I Buy Shiba Inu Coin?
To buy Shiba Inu coins, your primary option will be through an exchange that carries $SHIB. However, as you can see, there’s a third option that’s far less complicated. We’ll talk about that, but first, let’s discuss exchanges briefly.
When buying in exchanges, you can choose from either a centralized exchange (CEX) or a decentralized exchange (DEC).
A centralized exchange is where the platform acts as the middleman to facilitate all transactions. One of the most popular CEXs that carries Shiba Inu coins is Coinbase.
Coinbase allows you not just to buy Shiba Inu coins but also to trade them for profit. There are multiple payment methods for cashing out, including Paypal and bank transfers via SWIFT.
For non-U.S. residents, a better alternative is Binance. It has a variety of cash-out options as well. Plus, you can use the platform to trade, lend, and even participate in initial coin offerings.
For DEXs, the most popular to buy Shiba Inu coins is UniSwap. It’s built on the Ethereum platform, which is perfect for an ERC-20 token like $SHIB. Or you can choose to trade directly with Shiba Inu’s native decentralized exchange, called ShibaSwap.
However, the big problem with these exchanges is that they can be complicated for the average investor. Moreover, some DEXs also don’t allow the swapping of Shiba Inu coins with fiat currency like the USD.
So, where to buy Shiba Inu crypto tokens if you only have cash on hand?
That’s where the third option comes in – Coin Cloud, one of the top crypto ATMs. And it’s just as you imagine them to be – they allow you to buy and sell $SHIB and other cryptos as easily as withdrawing money from a machine.
The biggest advantage of Coin Cloud is that they allow you to buy Shiba Inu coins with cash directly. You simply scan a compatible crypto wallet code, feed in some money, and the coins will be automatically credited to your account.
Coin Cloud is by far the most convenient way of buying Shiba Inu coins. You don’t need to register an account with an exchange nor go through complicated buying and selling processes. And with 4,500 ATMs in the country, questions of “where to buy Shiba coin?” will be a thing of the past.
How to Buy Shiba Inu Coin
Before you learn how to buy Shiba Inu coin, you need to do some due diligence.
It’s important to understand the coin and how it works inside and out. Don’t be afraid to learn technical specifics like hash rates, how $SHIB is mined, and security concerns.
Doing so will allow you to evaluate better if the investment is for you. Because the truth is that investing in cryptos isn’t for everyone.
Once you’ve decided that an investment in Shiba Inu fits with your goals, the buying process comes next. But before you start getting new coins, you need a compatible wallet to store them first.
Fortunately, there are many wallets options in the market, and it’s quite easy to register for one. You can either get a hot wallet (which is connected to the Internet) or a cold wallet, which allows you to store cryptos offline. The latter provides better security because your wallet is unreachable to hackers.
Many exchanges also offer this service, but it’s generally better to store it on your independent wallet. This allows you better flexibility, such as buying $SHIB through crypto ATMs.
The next step is to pick where you want to buy some Shiba Inu coins. We’ve covered the popular options above, so pick one that suits your preferences best. However, one thing to consider is the fees associated with the transaction. This can vary from 0.1% up to 1% per trade.
Generally, if you plan to buy $SHIB with other cryptos like BTC or ETH, going with an exchange might be the best option for you. However, it’s also the case if you frequently trade between cryptos. For example, if you want to profit by exploiting swings in the Shiba Inu coin price, “where to buy” questions will be answered with DEXs or CEXs.
But if you’re like most people who want convenience and speed, going with a crypto ATM like Coin Cloud is the superior option. You can buy Shiba Inu coins in just a few minutes, giving you the chance to get them at the price you want.
The Pros of Buying Shiba Inu
So far, we’ve been discussing where and how to buy Shiba Inu, but you’re probably asking yourself: “what’s the point?” Why should you even bother with this doggie-themed crypto?
Even though Shiba Inu started as a meme coin, it has grown into a valuable cryptocurrency in its own right. It has quickly become one of the most talked-about coins in the crypto community, and it’s even been dubbed the “Doge killer.”
First, Shiba Inu is quite valuable and in demand right now. It has a market cap of $16.13 billion and a volume of $2.24 billion at the time of this writing – certainly nothing to scoff at.
$SHIB has also enjoyed an impressive price growth in just a few years since its inception. That means there’s a good chance that the coin will continue to grow, netting present owners profits if they sell them later on.
One of the more unique features of $SHIB is that it allows you to earn passive income by staking your coins in the exchange, similar to how you earn interest in your bank account.
Thanks to the ShibaSwap exchange, Shiba Inu coins have great liquidity. Thus, it’s easy for coin owners to buy and sell $SHIB – great for locking in or getting out of positions. The coin is also widely available in major exchanges, furthering the ease of transactions.
Shiba Inu is also 100% owned and backed by a passionate community. Having $SHIB coins also entitles you to participate in Shiba Inu’s development by voting on new proposals and implementations.
Here’s how to buy Shiba Inu Coin in 4 easy and quick steps.
Step 1. Find your nearest Coin Cloud DCM
We have a convenient locator map that lets you instantly find all the Coin Cloud Crypto ATMs that are closest to you. With more than 4,000 locations from coast to coast, you likely have several convenient options to choose from. You’ll never wonder where to buy Shiba Inu coin ever again!
Step 2. Enter your phone number
All you need to get started with buying cryptocurrencies at a Coin Cloud DCM is your mobile phone. Enter your number into the machine, followed by the verification code you’ll receive by text message.
Step 3. Scan your SHIB wallet
Step 4. Insert your cash
Now insert your cash into the Coin Cloud machine and press the “Done” button to purchase. In less than 5 minutes, you’ll be the proud owner of some shiny new Shiba Inu Coin.
See how easy that was?
Disclaimer: The information and views supplied on the Coin Cloud blog are for educational and entertainment purposes only. We are not financial advisors, so please do your research and consult with a trusted financial specialist before investing your money.
Founded in 2014 in Las Vegas, Nevada, Coin Cloud is the leading digital currency machine (DCM) operator. With over 4,500 locations nationwide, in 48 states and Brazil, Coin Cloud operates the world’s largest and fastest-growing network of 100% two-way DCMs, a more advanced version of the Bitcoin ATM. Every Coin Cloud DCM empowers you to quickly and easily buy and sell over 40 cryptocurrency options with cash.
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