It seems like everyone’s talking about the Shiba Inu Coin (SHIB).
But where do you get it? How can you invest in this hot new coin?
If you’ve tried looking for it, chances are you became overwhelmed as you found yourself buried in too much information. There are a few methods, but mostly either extremely complicated or time-consuming, if not both.
And what if you don’t want to use your credit or debit card, but just want to do a simple cash transaction? Well, that limits your choices even more.
We took a look at several ways to buy SHIB and rated them for speed and simplicity. We’ll tell you the pros and cons of each, and which one ends up being the fastest and easiest method. We’ll also tell you which ones let you buy Shiba Inu Coin with cash.
This is one of only two ways you can buy SHIB with cash. And it’s not the most favorable one. In fact, it’s downright old-school scary, leftover from the “wild west” early days of bitcoin when this was the only way to buy and sell crypto.
This involves going to an online forum or a site like Craigslist and looking for somebody who wants to sell you some Shiba Inu Coin. Then you negotiate a price (make sure you do that math correctly so you don’t get ripped off) and go meet that person in a coffee shop, back alley or other public place.
Yeah, it’s more than a little seedy. You might get scammed, mugged or worse. But hey, at least you do get to use cash.
If you want to go the fully decentralized route, you don’t need a lengthy onboarding process, but it is complicated. First you have to buy some Ether (ETH) somewhere, the official Ethereum network token. Luckily ETH is available on almost every platform, online exchange and wallet app, so you have lots of options for this step.
Now comes the harder part. Next you need to go to a DEX like Uniswap, SushiSwap or 1inch, connect your wallet and “swap” the ETH for SHIB. In fact, Shiba Inu even has its own DEX, ShibaSwap that lets you swap ETH for SHIB as well as the ecosystem’s other tokens, BONE and LEASH.
Keep in mind that each time you purchase or swap your coins, you’ll pay gas fees for the transaction. Also, you need wallets that are compatible with both the platform you purchase your Ether from, and the DEX platform, which are not going to be the same. You can’t just “buy” SHIB (or even ETH, for that matter) at a DEX. There’s no option to pay with USD, even digitally. You can only swap one token for another.
Centralized exchanges are basically like official online cryptocurrency banks, and come with all the same red tape. You can buy Shiba Inu Coin at a growing number of CEXes now, including Coinbase and Binance. But you need to sign up for an account, connect your bank account, submit your ID and financial information, and wait for it all to be approved.
Once you’re all connected, we have to admit that it’s pretty straightforward to purchase some Shiba Inu Coin. You can’t use cash, but at least you can use USD.
Keep in mind that most of these sites are custodial, meaning they have full control over your cryptocurrency and can shut down your account without warning. In addition, these exchanges are like candy to hackers, and there are countless phishing scams designed to part you from your hard-earned digital stash.
If you want the simplest way to buy SHIB, and one that offers a familiar interface, you’re in luck. Because Coin Cloud just added the Shiba Inu Coin to all 4,000+ DCMs. And consensus is that using a Coin Cloud machine is the fastest, easiest way to buy Shiba Inu Coin.
In fact, if you’re still a diehard Dogecoin fan, you can buy DOGE while you’re there too. Because Coin Cloud is the fastest and easiest (and only legit) way to buy both “Top Dog” coins with cash.
If you’re ready to give it a try, here’s how to buy SHIB (or DOGE) in 4 simple steps.
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 4,000 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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