How to Buy Shiba Inu UK – Beginners Guide for 2024

Want to know how to buy Shiba Inu? The project has once again piqued the interest of the crypto community following its Shibarium layer 2 blockchain launch.

Find out how to buy it in this article as we uncover the easiest, safest and cheapest way to buy it. Furthermore, we use fundamental and technical analysis to predict how far $SHIB could go in the next bull market.

How to Buy Shiba Inu

In case you are short on time, here is our summary of how to buy Shiba Inu.

  • Step 1 – Choose a crypto exchange or broker
    First, you will need to decide which broker to use. We recommend MEXC due to its impressive security, low fees, and features. However, if you are to do your own due diligence, be sure to consider these factors.
  • Step 2 – Open an account
    Visit the MEXC website and select Join MEXC, then proceed to create an account, entering your personal information and verifying your identity.
  • Step 3 – Decide how much you want to invest
    Next, decide how much money you want to invest in Shiba Inu.
  • Step 4 – Deposit Funds
    Once logged into MEXC, you can deposit funds and enter your payment details.
  • Step 5 – Buy Shiba Inu
    Finally, search Shiba Inu in the top search bar on the MEXC dashboard. When you see Shiba Inu, select Trade, then complete the order for the amount you want to buy.

Crypto assets are highly volatile and unregulated in most EU countries, Australia, and the UK. No consumer protection. Tax on profits may apply. Your capital is at risk. Don’t invest in crypto assets unless you’re prepared to lose all the money you invest.

Where to Buy Shiba Inu in the UK – Best Exchanges Reviewed

With Shiba Inu’s ecosystem expanding, SHIB could be one of the best cryptos to buy ahead of the next bull run. With that in mind, here are our top picks for where to buy Shiba Inu.

1. MEXC – Overall Best Platform To Buy Shiba Inu With Minimal Fees And A 10M+ User Base

MEXC is the best place to buy Shiba Inu in 2024. Available in over 170 countries and serving more than 10 million users, MEXC stands out for its high performance, supporting 1.4 million transactions per second.

This efficiency makes it a top choice for traders globally, although it’s important to note that MEXC is unavailable in the US.

MEXC offers over 1,600 cryptos and has a 0% spot trading fee, complemented by a minimal 0.02% taker fee for futures trading. These competitive fees benefit day traders, offering significant cost savings compared to other exchanges.

MEXC Homepage

The exchange caters to active traders with its advanced charting features and multiple indicators and appeals to long-term investors through its MEXC Savings feature. This allows users to lock in cryptos like USDT and XRP for attractive APRs, with the flexibility to unlock funds conveniently.

MEXC improves user experience with a mobile app for iOS and Android, enabling trading on the move. The platform also supports multiple languages, broadening its accessibility. 

For payment and deposits, users have options like bank transfers, SEPA, credit and debit cards, and even peer-to-peer transactions.

A comprehensive library of educational materials is available for those new to crypto or looking to expand their trading skills.

MEXC Copy Trading Feature Banner

Additionally, the copy trading feature allows users to replicate the strategies of successful traders, adding a layer of learning and convenience.

MEXC integrates its users into the platform’s ecosystem through the MX token, which was released in 2019. This token offers holders voting rights on business decisions, trading discounts, and access to exclusive airdrops.

Fee Structure Fee to Trade SHIB Top Features Number of Cryptos
2% fee for Debit cards. No spot trading fees. 0% High transaction processing, copy trading, and Saving feature for passive income. 1600+

Pros pros

  • No Spot Trading Fees
  • High Transaction Speed (1.4 million transactions per second).
  • Copy Trading
  • MEXC Savings Feature For Passive Income

Cons cons

  • Not Available in the US

Crypto assets are highly volatile and unregulated in most EU countries, Australia, and the UK. No consumer protection. Tax on profits may apply. Your capital is at risk. Don’t invest in crypto assets unless you’re prepared to lose all the money you invest.

2. Binance – Feature-packed Platform and the Leading Exchange by Trading Volume

BinanceBinance is the number one crypto exchange by trading volume globally. This means it has the deepest liquidity, so buying and selling crypto on the platform is seamless.

It offers unique features like the Binance Launchpad, cloud mining, numerous staking and liquidity-providing solutions, futures trading, options trading, and much more.

binance

However, due to this, the platform is less beginner-friendly than Coinbase.

Another potential concern is that Binance is not currently accepting fiat deposits from UK customers. This means that for UK customers to use Binance, they must deposit their fiat currency onto another exchange, swap it for crypto, and send it to Binance.

This is probably not worth it for most users, but it may be worth considering if you want to buy SHIB and earn extra yield.

Fee Structure Fee to Buy SHIB FCA Regulated
Fiat deposits are not available from the UK. However, there are no fees on crypto deposits except for network gas fees. 0.1% of the purchase amount Yes (partly)

Pros pros

  • Most feature-dense platform
  • Widest userbase and deepest liquidity

Cons cons

  • Less beginner-friendly than Coinbase
  • Only supports crypto deposits in the UK
  • Facing significant legal difficulties worldwide

3. Coinbase – FCA Regulated User-friendly Platform Which Pays Users to Learn about New Cryptocurrencies

CoinbaseAs a beginner, Coinbase is a brilliant way to earn free crypto. This is because, as well as selling Shiba Inu and over 150 other cryptos, Coinbase offers a “Learn” platform where users can earn a small amount of rewards for learning about cryptocurrencies.

When buying Shiba Inu, one of Coinbase’s main issues is its hefty 3.99% credit/debit card deposit fee. On top of that, users face a further 1.5% fee for buying SHIB, totaling 5.49% altogether.

coinbase

This means you will pay nearly $54.90 by depositing $1,000 to buy SHIB on Coinbase.

Regardless, Coinbase has still managed to attract one of the largest user bases in crypto, with over 100 million users recorded in 2022.

The platform offers numerous products like staking, a non-custodial wallet, recurring buys, a mobile app, and much more.

Coinbase recently launched as a public company in the US, cementing its security and reliability. However, it is worth noting that the SEC sued Coinbase recently. While it is unlikely to put customers’ funds at risk, it may cause potential disturbances regarding depositing and withdrawing funds if the regulatory crackdown spreads in the UK.

Fee Structure Fee to Buy SHIB FCA Regulated Top Features
3.99% fee on card deposits and 1.49% for bank transfers over $200 1.5% of the purchase amount Yes Coinbase Learn and Coinbase Earn

Pros pros

  • Earn free crypto
  • Seamless UI
  • Well-established, likely making it one of the more secure exchanges

Cons cons

  • 3.99% card deposit fees
  • 1.5% trading fee
  • The SEC’s lawsuit could cause disruptions on the exchange

4. Kraken – Crypto Exchange With Advanced Trading Tools And Competitive Fees

Founded in 2011, Kraken has established itself as a leading crypto exchange, offering over 200 cryptos across nearly 200 countries. 

Kraken’s appeal lies in its dual trading platforms. Despite higher fees, the Instant Buy/Sell platform offers quick trading with a variable “display fee” and market-condition-based spread for those seeking simplicity. 

On the other hand, Kraken Pro caters to more experienced traders, offering an advanced trading experience with lower fees, starting at just 0.26% for market orders and 0.16% for limit orders. 

This platform is not only for professionals; beginners and intermediates can also leverage its advanced analytics and competitive fee structure.

Kraken Homepage

One of Kraken’s most notable features is its leveraged trading, allowing up to 5x leverage on over 100 markets. This feature opens up significant opportunities for more earnings, though it comes with a proportionate increase in risk. Professional traders have the option for even higher margin trading limits.

Kraken’s fee system is relatively competitive, although higher fees apply for debit card transactions, with a 3.75% charge.

The platform also maintains a high standard of transparency, being the first to provide proof-of-reserves, ensuring users of its reliability in managing their crypto assets. However, it’s important to note that Kraken doesn’t offer a proprietary crypto wallet, requiring external wallets for crypto storage.

Fee Structure Fee to Buy SHIB Top Features Number of Cryptos
0% to 0.26% Debit Card (3.75%) Huge customer base, Advanced trading platform, Competitive fee structure 200+

Pros pros

  • Global Reach: Operates in nearly 200 countries.
  • Dual Platforms: Caters to beginners and advanced traders.
  • Competitive Fees: Especially low on Kraken Pro.

Cons cons

  • High Debit/Credit Card Fees: 3.75% on transactions.

Crypto assets are highly volatile and unregulated in most EU countries, Australia, and the UK. No consumer protection. Tax on profits may apply. Your capital is at risk. Don’t invest in crypto assets unless you’re prepared to lose all the money you invest.

What is Shiba Inu?

Shiba Inu is a popular meme coin initially viewed as a joke by much of the cryptocurrency community. However, the project quickly exceeded sceptics’ expectations, reaching a market cap of over $40 billion in 2021 and implementing several impressive ecosystem developments since.

how to buy SHIB

It features the Shiba Inu hunting dog as its mascot, similar to Dogecoin. In fact, much of its community regards it as the “Dogecoin Killer” due to its extra utility compared to Dogecoin.

In its early days, Shiba Inu was focused on community, with the SHIBArmy becoming a formidable clique that would be seen “raiding” top crypto influencers’ social media posts. However, the project has matured recently, and while it has kept its fun and cheerful nature, its latest development puts it at the forefront of crypto innovation.

The Shiba Inu ecosystem comprises several decentralized applications and different tokens. Until recently, its most popular dApps were its ShibaSwap decentralized exchange (DEX), Shiboshis NFT collection, Shib the Metaverse, and a free-to-play game, Shiba Eternity™.

The Shibarium Launch

Shiba Inu recently launched Shibarium, its Ethereum layer 2 blockchain. This generated mass excitement within its community since layer 2s are crucial to blockchain infrastructure and help with the Ethereum scalability issue.

dApps will be able to launch directly on the Shiba Inu blockchain, potentially opening them to a mass audience since Shiba Inu has 1.3 million holders.

how to buy SHIB

Interestingly, the SHIB token will not be used to settle gas fees and staking on Shibariu, but another Shiba Inu token, Bone ShibaSwap.

Nevertheless, the SHIB token has several other utilities within the ecosystem, and the addition of Shibarium will likely only bolster its network effect.

Is Shiba Inu a Good Investment? Key Points to Consider

While it has already proven itself as one of the best meme coins, several factors are worth considering to decide whether SHIB is a good buy. Let’s examine them below.

Strong Tokenomics and Mass Token Burns

Shiba Inu’s circulating and total supply are the same at 589.35T SHIB. This means that no more Shiba Inu tokens will come into circulation. As such, a growing demand for Shiba Inu will directly benefit its price.

However, the project also features a burn mechanism, where users can send their Shiba Inu tokens to a burn wallet, making them inaccessible and unrecoverable, reducing the SHIB supply and helping bolster the price of the circulating SHIB.

In return for doing so, users are rewarded with another token, RIYOSHI. So far, the Shib Burn portal has tracked that 410,656,820,996,500 tokens have been burnt, or over 40% of the initial total supply.

The Shiba Inu community’s goal is to push the price of SHIB to $0.01, utilizing burning as a primary method to get there. SHIB has room for a 122,179% increase from its current price to reach its target. While this would be a significant increase, the encroaching bull market and the ongoing token burning could provide some support.

The Best Blue Chip Meme Coin

After launching in 2021, Shiba Inu has established itself as one of the top meme coins alongside Dogecoin. Therefore, those looking to experiment with meme coins will naturally be drawn to one of the two.

However, Shiba Inu could prove a more favorable investment, with several advantages over Dogecoin in terms of utility, community and having a market cap roughly 50% lower than Dogecoin’s.

how to buy SHIB

Additionally, Shiba Inu frequents the CoinMarketCap trending list and is currently placed third behind CyberConnect and Bitcoin.

There are countless reasons Shiba Inu appears as one of the top cryptos, like its ecosystem developments and growing user base. On the other hand, Dogecoin generally only takes a spot on the list when Elon Musk decides to reignite its hype. For example, Musk changed the Twitter logo to the Dogecoin dog a few months ago, causing Dogecoin to pump. Yet without Musk’s help, Dogecoin rarely makes headlines.

This makes Dogecoin more centralised than Shiba Inu since its performance ultimately relies on one person. As such, Shiba Inu is the best blue-chip meme coin, enabling it to attract much new liquidity as meme coin interest grows.

Robust Meme Coin Ecosystem

Another factor bolstering Shiba Inu’s case is that it holds the most robust meme coin ecosystem. With numerous dApps and now a layer 2 blockchain to facilitate them, it is undeniable that Shiba Inu is growing beyond the confines of a “meme coin.”

how to buy SHIB

However, it retains its viral, fun, and community-centric demeanour, which could help rally its community, putting SHIB and its ecosystem in high demand.

Also, the SHIB token provides significantly more utility than DOGE, thanks to its ecosystem. This adds to its long-term potential since it benefits from hype-driven and utility-driven demand.

Shibarium User Base

The Shibarium test net reported 21 million wallets created and 32 million transactions.

how to buy SHIB

While these are simply test transactions, they still attest to the virality and community strength pushing the Shiba Inu project forward.

On top of that, Shiba Inu already has 1.3 million users; even if just 10% of Shiba Inu’s holders used the Shibarium network, it would already rank among the top layer 2 blockchains by active users.

With such a vast community and user base, coupled with its growing ecosystem, Shiba Inu has the potential to become one of the best cryptocurrencies.

Cryptoassets are highly volatile and past performance isn’t an indicator of future success. Invest at your own risk.

Buy the Dip

Finally, taking a long-term outlook, Shiba Inu is trading for a significant discount compared to its all-time high (ATH). With a current price of $0.000008221 and an ATH of $0.00008845, users can buy SHIB at a 90% discount (or get 10x more SHIB for the same price).

Moreover, Shiba Inu’s ATH occurred during the last bull run in October 2021, when it had fewer ecosystem developments. The project could present even more upside potential in the next bull run, considering recent advances.

Adding to this is the increasing demand for layer two cryptos during bull runs. As gas fees on Ethereum increase, many users seek cheaper alternatives, often pushing up layer 2 coin prices.

Shiba Inu Price History

Shiba Inu launched in August 2020 and traded under $0.00000001 until February 2021. The price continued to climb, reaching $0.00000006 the next month.

However, an even more explosive run followed, reaching $0.00003043 on 12 May 2021 following its Binance listing. Yet SHIB quickly sold off again and consolidated between $0.000006 and $0.000008 until October 2021.

SHIB

Then, the project soared to $0.00008845 on 28 October 2021.

Subsequently, the price dramatically sold off, plunging to $0.00002115 shortly after. There was then a brief spike in the price before a continuation of the downtrend, which has sustained throughout the bear market, with SHIB currently trading at $0.000008279, down 90% from its ATH.

Shiba Inu has a current market cap of $4.88B, with its peak market cap of over $40 billion in October 2021.

Cryptoassets are highly volatile and past performance isn’t an indicator of future success. Invest at your own risk.

Future Outlook – Shiba Inu Price Prediction

Now that we have analysed the Shiba Inu price and its fundamentals, we will use technical analysis to predict where it could be headed over the next few years.

Firstly, we must consider that our fundamental analysis for Shiba Inu is bullish. Considering its deflationary tokenomics, expanding ecosystem, and vast community, it has everything it needs to succeed. We will apply this bullish bias when predicting the SHIB price.

SHIB

The Shiba Inu price chart shows that the project is currently consolidating between $0.0000008073 and $0.000015413.

However, despite being near the centre of this zone, the RSI indicator shows that SHIB is currently in the overbought region, indicating a loss of bullish momentum.

This means we may see continued sell pressure in the short term, potentially retesting support before bouncing and breaking the zone to the upside.

Our thesis would align with the upcoming Bitcoin halving, set for April 2024, which will likely cause the next crypto bull run. In the meantime, SHIB will trade in an accumulation zone.

However, following the Bitcoin halving, there are three targets that SHIB is likely to hit.

While it has the potential to break its ATH in the next cycle, it is unlikely to trade that high for long. It is more likely to find a range between our price targets, which were key support and resistance levels in the last bull run.

SHIB

As such, our estimated high for the SHIB price is $0.000038577, and our estimated low is $0.000021842 by the end of 2025.

Other Analysts’ Shiba Inu Predictions

  • Just a few days ago, renowned crypto analyst Michaël van de Poppe predicted a 30% Shiba Inu rally is imminent.
  • Meanwhile, YouTuber CryptoRUs predicts Shiba Inu has a bright future. The YouTuber is generally sceptical over meme coins, but Shiba Inu’s continued ecosystem development and appeal to crypto newcomers are the main factors driving his optimism.
  • Finally, a TradingView analyst who goes buy MMBTrader forecasts a swing to $0.00001593 soon.

Cheapest Way to Invest in Shiba Inu in the UK – Exchange Prices Explained

Price is one of the most important factors when deciding where to buy Shiba Inu. You must consider numerous factors like deposit fees, withdrawal fees, transaction fees and any hidden fees like inactivity fees.

The largest fee that users absorb is often the fee for depositing via credit/debit card. Unfortunately, card deposits are often the most convenient way to pay, and these fees go up to around 4% on exchanges like Coinbase.

Another consideration is trading fees. The trading fees alone on many exchanges can cost 1.5% of the total transaction.

Another option would be to use a decentralised exchange like Uniswap. While this offers self-custody of funds, it is far from the cheapest way to buy Shiba Inu, with Ethereum gas fees often climbing to $50+ in times of high network congestion.

You could also use the Shibarium network itself, but this has just recently launched and is still facing issues, with its initial launch plagued with significant technical difficulties. Furthermore, it requires managing wallets and using a bridge, which is complex for beginner users.

Things to Consider Before Investing in Shiba Inu

When deciding whether Shiba Inu is one of the best coins to buy, it is also essential to consider its potential risks. We have explored the most prominent ones below.

User Experience

While most of the recent hype surrounding Shiba Inu is related to its ecosystem developments, a failure to execute as planned by the Shiba Inu devs could negatively impact SHIB’s price.

For example, the team has had to “relaunch” Shibarium due to a botched initial launch. Since the Shibarium launch, the Shiba Inu price has been bearish, with its difficulties at launch likely contributing to it.

Implementing new protocols and technologies into the ecosystem is bound to generate technical issues, opening the door to a potential decrease in the SHIB price.

Price Volatility

Despite adding some utility, Shiba Inu remains one of the most volatile cryptos regardless of its large market cap. While volatility means its price can go up quicker, it also increases the possibility of significant losses, evident in SHIB being down 90% from its ATH.

Cyber Attacks

Continuing with ecosystem developments, like other DeFi cryptos, Shiba Inu must also fend off cyber attacks. DeFi is one of the worst-affected areas for cybercrime in crypto, primarily due to the considerable amounts of crypto locked in smart contracts.

If a Shiba Inu dApp or the Shibarium blockchain is exploited, this would devastate the Shiba Inu price, as we have seen with the likes of Axie Infinity’s AXS following the Ronin bridge exploit.

How to Buy Shiba Inu in the UK Detailed Step-by-Step

Now that we have analysed Shiba Inu and the best exchanges let’s delve into how to invest in Shiba Inu in the UK. We will use the MEXC website for this walkthrough since it provides the best user experience when considering fees and features.

Step One: Open a MEXC Account

Visit the MEXC website and sign up to create an account with the platform. You will be asked to enter and verify your mobile no. and email id.

Users can also log in with their Google, Apple, MetaMask, or Telegram accounts.

MEXC Sign Up

Step Two: Deposit Funds to MEXC

When logged into the MEXC platform, visit the home page and select the Deposit Funds button at the bottom left of the screen. Choose your preferred payment method.

Choose the amount you wish to deposit and complete the deposit as prompted.

MEXC - Deposit Funds

Step Three: Search for Shiba Inu

Head to the search bar at the top of the home page and search for Shiba Inu (SHIB). Go ahead and select the Trade button next to it.

Step Four: Complete Your SHIB Purchase

Finally, choose the amount of SHIB you want to buy and confirm the trade. You can do this in denominated in USD or units of SHIB.

Conclusion

While there are many places to buy Shiba Inu in the UK, our guide found that the best overall crypto broker is MEXC. As well as low fees, a simple UI, and robust security, MEXC’s unique features can provide a competitive edge to any investor.

Currently, Shiba Inu is trading at a significant discount from its ATH. Yet, with the Bitcoin halving around the corner, the price may begin to recover imminently. As such, investors must be quick to buy SHIB at the best price.

Crypto assets are highly volatile and unregulated in most EU countries, Australia, and the UK. No consumer protection. Tax on profits may apply. 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. Take two minutes to learn more.

FAQs

How can I buy Shiba Inu in the UK?

What is the best place to buy Shiba Inu in the UK?

Is it worth investing in Shiba Inu?

Elliott Lee
Editor
Elliott Lee
Editor

Elliott is a British cryptocurrency journalist and copywriter. Having spent the past couple of years immersed in everything crypto, he now spends his time researching the most impactful cryptocurrency trends. He looks for projects with long-term visions and is a huge believer that blockchain technology can solve the world's most pressing issues.