Want to start trading Shiba Inu coins on Binance, then you tap on the right page. Before moving further to purchase the coin let’s have a brief on the Shiba Inu coin.
The coin Shiba Inu is a cryptocurrency that is labeled after the breed of a dog. As per its website, it termed itself to be a “Dogecoin Killer”.
It came to be a publishing supply of 1 quadrillion, and the creator Ryoshi hooked the half percent of token in the trade of Uniswap’s decentralized to build liquidity. The remaining half that is Ethereum is transmitted to the wallet of Vitalik Buterin and the largest part was burned. Here Shiba coin can be traded on Binance.
Now we will head to understand whether you can purchase the Shiba coin on Binance.
Can I buy Shiba Inu on Binance US?
Yes, you can proceed to buy the Shiba coin on Binance.
How can I buy Shiba Inu on Binance?
The following steps will help you in acquiring coins on the Binance:
- Create a Binance account You need to first create an account on Binance if you wish to trade using the Shiba coin. Binance is the most used cryptocurrency all over the globe. It selects the altcoins that keep on growing with continual improvements. You are not required to verify on Binance if you withdraw below two BTC in a day. You will also trade using an app on your Android and iOS devices.
In case you have not acquired cryptocurrency then you can buy coins using a debit or credit card. - Deposit the cryptocurrency Ethereum and Bitcoin are the two cryptocurrencies that are broadly valuable for depositing. Here the two have trading groups with enormous cryptocurrencies in bulk listed in the Binance account giving you flexibility.
You need to remember that USDT and BUSD are traded for the Shiba Inu coin on Binance.
Head to the Binance website and tap on Funds then click on Deposits to start depositing cryptocurrencies.
Next, a search bar will pop up on the screen. Here you need to type the ticker like ETH or BTC. The cryptos that you prefer to deposit. Select from the available options below.
As you select the cryptos then you will get the address for the deposit. It will be a combination of letters and numbers, copy it and move it to the wallet. Now transfer the amount that you want to deposit to the address which you copied in the above steps. It might take half an hour to finalize the transactions.
Note:-
i) ETH is faster and the fees are lower than BTC.
ii) Make sure you deposit a small amount first. Once the amount reaches Binance then you can start trading.
iii) It’s important to deposit from the wallet directly. - Check the balance in the next step, select the Funds option and then click the Balances tab available above the website. Suppose you want to see only the coins having a balance of BTC 0.001 then tap on the option “Hide small assets”.
In case the deposit is processed, you will see the amount along with the coin in the list. Presuming that the coins are numerous then utilize the search bar. - Place the order for buying Now you need to place an order by heading to the Exchange section and tapping on “Basic”.
1. Gather USDT or BUSD.
2. Pick BUSD and browse for SHIB, this is the ticker for purchasing SHIBA INU. It will be shown as SHIB or BUSD as trading pair.
3. Tap the trading pair, then the chart with the price pops up in the middle of the screen. You are now required to place the order to buy. Suppose you wish to purchase the Shiba coin after it reaches the maximum limit then pick the Limit order option.
4. Type the SHIB amount and the cost in BUSD that you selected to purchase.
5. Now, tap the Buy SHIB tab.
Conclusion:
Always invest a low amount when you are new to trading to be on the safe side. But if you already deposit in a large percentage then do not purchase the SHIB altogether rather start purchasing at different pricing levels. It’s known as unit cost averaging.
In case you wish to purchase at the current rate then tap on the Market option and type the SHIB amount for buying. The purchase order needs to be accomplished promptly and after that, the coin of Shiba Inu will be added to the balance of the Binance account.