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- Shiba Inu is a meme coin that seeks to be an alternative to Dogecoin.
- Issued as an Ethereum token, SHIB has 1 quadrillion tokens outstanding, with 50% of those locked in a swap.
- SHIB can be bought using fiat money or traded against another cryptocurrency.
Ready to buy Shiba Inu? Use our easy step-by-step guide to setting up an exchange account and buying SHIB in Australia.
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Where to buy Shiba Inu
On website
Highlights
- Sign up on Binance Australia to get a 100 USDT cashback voucher. Terms and Conditions apply.
- World's largest crypto exchanges.
- Buy, sell, trade, and stake 1,000s of crypto coins and trading pairs.
- Zero-fee deposit via PayID or Osko from Australia.
Pros
Cons
On website
Highlights
- Receive $10 worth of BTC when you sign up and verify your account.
- Trade over 300 assets on Swyftx including Bitcoin, Ethereum, Ripple and Litecoin as well as DeFi coins such as UniCoin.
- Deposit or withdraw funds from your account using several payment methods (PayID, OSKI, POLi or bank transfers).
- New to Crypto? Try Swyftx's demo mode, it allows you to mock trade with no financial risk while you learn the ropes of crypto trading.
Pros
Cons
On website
Highlights
- Buy Bitcoin, Ethereum, XRP and over 370 other digital currencies.
- Refer a friend and earn $10 BTC.
- Get 24/7 helpdesk support.
Pros
Cons
On website
Crypto assets are unregulated & highly speculative. No consumer protection. Capital at risk.
Highlights
- Access thousands of assets across multiple categories.
- Copy trades of popular investors that trade Crypto.
- Access powerful analysis tools and innovative social features.
Pros
Cons
Highlights
- Buy Bitcoin and 250+ cryptocurrencies with 20+ fiat currencies.
- Earn up to 8.5% p.a. staking your crypto, and up to 14% p.a. for stablecoins.
- Spend with the Crypto.com Visa Card and get up to 5% back.
- Enjoy greater capital efficiency and lower margin requirements.
Pros
Cons
On website
Highlights
- Trading fees are 0% - 0.1% on CoinJar Exchange and 1% on CoinJar.com and mobile apps.
- Trade over 60 cryptocurrencies including Bitcoin, Ethereum, Ripple, Shiba Inu, Dogecoin, Solana, and Cardano.
- Free AUD deposits and withdrawals (PayID, OSKO, or bank transfers), 2% fee on credit/debit card crypto purchases.
- Earn CoinJar Rewards when you spend your crypto with a CoinJar Card. Free to activate, no monthly charges.
Pros
Cons
Step 1: Find an exchange that sells Shiba Inu
Shiba Inu is among the most well-known altcoins. It is listed on many of the best cryptocurrency exchanges. If you're comparing exchanges, take time to check their security features and what fees are charged, e.g. the spread or trade fee, withdrawing funds, etc.
Step 2: Sign-up and get verified
After deciding where to buy Shiba Inu, you'll have to sign up for an account and verify your identity. You'll need to provide your complete name, date of birth, street address, and country of residence. A copy of your driver's licence, passport, or another government-issued ID document may be required as further proof of identity.
Step 3: Fund your account
You can transfer fiat money (AUD) from a your bank account, credit or debit card. Some exchanges also accept funds from PayID, PayPal, POLi, etc. The time it takes for funds to clear will vary depending on your choice.
An alternative way to fund your account is to transfer crypto you already own to your account at the exchange. It's important to check that your exchange supports the crypto before initiating the transfer.
Some exchanges may require an initial deposit while others do not. You can check this requirement on Finty.
Step 4: Set an investment budget
Shiba Inu is highly volatile and speculative. Do not use money to buy Shiba Inu unless you are comfortable with the possibility of losing it.
Step 5: Purchase Shiba Inu
Most exchanges provide an instant buy option, which is the equivalent of a market buy where you get the next available price. Limit and stop orders are available on many exchanges so you can buy defend your position and automatically place an order under specific conditions. You may also be able to set up a recurring order to buy more Shiba Inu on a regular basis and take advantage of dollar cost averaging over time.
Where to store your Shiba Inu
After you have purchased SHIB tokens, you can transfer them from your exchange wallet to a third-party hot or cold wallet.
If you want easy and fast access to your SHIB tokens, a hot wallet is a better option. However, hot wallets are more vulnerable to theft and loss from hacking and other online attacks. Cold wallets, on the other hand, are more secure as they keep your tokens offline.
