How to buy Shiba Inu (SHIB) from Canada

Nikita Sheth avatar
Written by   |  
Andrew Boyd avatar
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Updated 21 Oct 2022
  • 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 Canada.

Where to buy Shiba Inu

Coinberry

On website

Highlights

  • Register in just 60 seconds and start investing with as little as $50.
  • No CAD deposit and withdrawal fees.
  • Coinberry is insured, FINTRAC registered & PIPEDA compliant and is the only digital asset platform trusted by Canadian Government municipalities.

Pros

  • Easy sign-up process and instant verification.
  • No fees to deposit or withdraw fiat.
  • There is a $200 million crypto asset insurance.
  • Easy to use mobile app.

Cons

  • Limited choice of altcoins.
  • High trading spreads.
Ndax

On website

Highlights

  • Get $10 when you sign up and deposit at least $100 into your account.
  • Quick deposits and withdrawals via Interac e-Transfer and wire.
  • Low flat trading fee of 0.20% across all pairs, making costs predictable.
  • Built for Canadians, with CAD support and compliance with Canadian banking standards.
  • Advanced trading features like limit orders, recurring buys, and real-time charting for more control.

Pros

  • You can fund your account with CAD through Interac, bank transfer, or wire — no need to convert currencies.
  • Offers a clean, intuitive interface that’s friendly to both beginners and experienced traders.
  • Supports a solid list of popular cryptocurrencies, including Bitcoin, Ethereum, Cardano, and more.
  • Cold storage is used to keep the majority of client funds secure offline.
  • Registered with FINTRAC and held to Canadian AML standards, giving it strong credibility locally.

Cons

  • The flat 0.20% trading fee is competitive but not the lowest in the market.
  • No staking or interest-earning options, which could matter to users looking for passive income.
  • Its mobile app works well for basic tasks, but lacks some of the more advanced charting tools on desktop.
Crypto.com

Not available for application via this website

Crypto.com

Highlights

  • Trade 250+ cryptocurrencies with CAD support, including Bitcoin, Ethereum, and altcoins.
  • Use the Crypto.com Visa Card to spend your crypto anywhere Visa is accepted, with tiered cashback and perks.
  • The mobile app offers everything in one place: buy, sell, stake, track, and earn.
  • Strong security setup with cold storage, multi-factor authentication, and real-time monitoring.

Pros

  • Fully supports CAD deposits and withdrawals via Interac e-Transfer or wire, avoiding currency conversion fees.
  • Offers competitive rates for staking and crypto interest on over 30 coins, including stablecoins.
  • Detailed price alerts, real-time charts, and DCA tools help users stay informed and consistent.
  • NFT marketplace lets Canadians explore and collect digital art without leaving the app.
  • Visa Card offers airport lounge access and Spotify/Netflix rebates at higher tiers, depending on CRO stake.
  • Licensed in Canada with regulatory compliance through FINTRAC, giving added confidence

Cons

  • Some card benefits require CRO staking, which may not suit casual users or those focused on liquidity.
  • Crypto.com's platform can feel overwhelming for newcomers due to its many features.
  • Customer service is live chat–only and may take time during high-demand periods
  • Lacks educational resources.
Coinbase

On website

Finty may be compensated when you click on the link.

Highlights

  • Buy, sell, and hold over 250 cryptocurrencies in a beginner-friendly interface.
  • Regulated and publicly listed in the US, offering peace of mind on security and transparency.
  • Auto-invest lets you set recurring buys for dollar-cost averaging.
  • Coinbase Wallet is available for those who want full control of their crypto and NFTs

Pros

  • The interface is clean, simple, and ideal for beginners—one of the easiest ways for Canadians to get started with crypto.
  • Strong focus on security, with 2FA, cold storage, and insurance on custodial assets.
  • You can earn small amounts of crypto through educational mini-courses via Coinbase Earn.
  • Supports Apple Pay and Google Pay, making fiat-to-crypto purchases more convenient

Cons

  • Trading fees are high compared to other platforms—best for small, infrequent buys.
  • No advanced features like futures or margin trading.
  • Limited customer support options, and response times can be slow during peak periods.
KuCoin

On website

Highlights

  • Safe and rapid Bitcoin purchase.
  • Multiple order types for all kinds of risk appetite.
  • Sign up and get a welcome gift.

Pros

  • Supports 600+ different coins.
  • Has low maker and taker fees, starting at 0.10%.
  • Opportunity to earn interest in your cryptocurrencies.

Cons

  • A limited choice of payment options is available.
Uphold Crypto

On website

Crypto assets are highly volatile. Your capital is at risk. Don’t invest unless you’re 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.

Uphold Crypto

Highlights

  • Invest in 250 + cryptocurrencies and stablecoins, 27 national currencies, and multiple precious metals with 0% commission.
  • Ability to trade crypto against other assets like foreign currency and commodities.
  • Registered with FinCEN (US), FCA (UK), and FCIS (Lithuania).

Pros

  • Open an account in less than a minute.
  • Low deposit requirement and commission-free trading.
  • Option to trade fiat currencies and precious metals.

Cons

  • High spreads on low-liquidity assets.

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 (CAD) from a your bank account, credit or debit card. Some exchanges also accept funds from Interac e-Transfer, PayPal, 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.

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