How To Buy Shiba Inu (SHIB) With Credit or Debit Card
"Ryoshi" created the Shiba Inu token (SHIB) in August 2020 as a decentralized cryptocurrency. The name of the coin is dedicated to the Shiba Inu, a Japanese breed of dog. Shiba Inu is referred to as a "meme coin", meaning that it takes a source from an Internet meme.
If you are interested in learning how to buy Shiba Inu coins, CEX.IO is here to help.
How it works?
What is Shiba Inu (SHIB) coin?
The Shiba Inu cryptocurrency operates on a decentralized network that runs a database known as a blockchain. A blockchain is a distributed database for tracking and managing cryptocurrencies, verifying transactions, and recording transactions made using the native coin. Over time, some blockchains become a long-term record of cryptocurrency transactions.
The Shiba Inu project is built on the Ethereum blockchain.
Shiba Inu tokens
The Shiba Inu cryptocurrency actually consists of multiple digital tokens that are used to make the blockchain ecosystem work:
SHIB – the basic Shiba Inu currency, which is used as a medium of exchange.
LEASH – token limited to 107,646 units. It remains the most limited of the Shiba Inu-related coins. Distributed as a reward for validating transactions on the Shiba Inu blockchain. LEASH holders can stake their crypto for rewards.
BONE – a governance token limited to a fixed supply of 250 million units. Shiba Inu users can use BONE to cast votes for various proposals.
Shiba Inu also owns its own type of non-fungible token (NFT) - Shiboshi.
The founders of the Shiba Inu project named their white paper the "WoofPaper." The cryptocurrency also refers to its owners and supporters as the "Shib Army." The rise of SHIB has led to other canine-related coins and puns in theThis canine theme continues to permeate the cryptocurrency ecosystem.
How do I buy Shiba Inu with a debit card on CEX.IO?
To buy and sell cryptocurrencies on CEX.IO, you need to register an account. To start, use your active email address. A special code or link will be sent to your email to confirm your registration. As soon as you create an account, we'll notify you by email when you make a transaction or make an essential change to your account (like changing your password).
How to register an account using CEX.IO desktop or mobile versions
Go to the official CEX.IO website or download the mobile app. After, click the Register button.
Select an individual account if you are going to use it for personal purposes. You can opt for a CEX.IO business account if you use it for business purposes.
Next, provide your email address, create a password, and provide the requested information during the account creation process (i.e., your first and last name, country of residence, etc.)
Here is the best way to buy SHIB online in the U.S. and other countries.
How to buy Shiba Inu with a debit card
The easiest way to buy Shiba Inu is with a debit card. To do so, customers can follow these steps:
Select the Instant buy option from the Products list on the index page or go to the buy/sell page.
As shown in the screenshot above, select SHIB from the drop-down list. Select the number of SHIB tokens you wish to purchase.
Choose the card you want to use or enter the card number, expiry date, and CCV of the new card you want to use.
Once the purchase is made, receivingShiba Inu on CEX.IO will only take a few minutes. For CEX.IO users, buying SHIB, Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and other popular cryptos is fast and simple.
How to buy Shiba Inu with a credit card?
The process of buying SHIB with debit and credit cards is similar. The difference comes down to the bank being used. Different banks and card providers charge different fees.
To buy crypto, you may have to pay fees depending on your payment method and service. There are usually commissions charged by crypto exchanges when you deposit or withdraw funds or trade cryptocurrencies, like converting BTC to USD. Before funding an account, it is important to check the limits and commissions of the banks and crypto exchanges involved. Learn what the best route is for you to make the best choices available.
Which card type is the best for buying Shiba Inu and other crypto?
While crypto adoption has made leaps and bounds in recent years, many banks avoid or ban any transactions having to do with digital currencies. So make sure your bank allows cryptocurrency transactions and is crypto-friendly if you plan to purchase SHIB coin, Bitcoin, or buy Ethereum with a debit card, credit card, or prepaid card.
Below you can find some tips for using different card types on CEX.IO.
Buying Shib Inu (SHIB) with a Visa card on CEX.IO
Visa recognizes cryptocurrencies as an important part of the financial system and an innovative technology. Visa allows you to process different transactions with virtual currencies. You shouldn't have any problems purchasing SHIB with a prepaid Visa card.
Using Mastercard for crypto purchases
In view of the popularity of digital assets, Mastercard has also embraced his trend. In 2021, they announced the support of selected digital currencies within their network. On CEX.IO, you can use Mastercard debit, credit, and prepaid cards to deposit funds and purchase cryptocurrency.
Prepaid cards and crypto: what you need to know
To use a prepaid debit card, you don't need a bank account. You can use the card to make contactless purchases in a physical store or online.
In addition, you can deposit USD, EUR, GBP, and RUB into your CEX.IO account using your prepaid cards. Then you can buy Bitcoin instantly. In the event you decide to sell Bitcoin (BTC) and withdraw or cash the money out, an alternative card is necessary.
Where to buy Shiba Inu crypto?
Cryptocurrency exchanges are the best place to buy any digital asset. To prevent making a wrong choice of crypto platform, choose an exchange with the following features:
Credible: The exchange is well-known, and many people have written positive reviews about it on popular websites and forums.
Different ways to pay: with a variety of payment options.
Diversity of crypto assets: provides a variety of different assets to choose from.
Legal and compliant: make sure the owners of the exchangehold all of the different licenses and are registered to do business in your state, province, or country.
Safe: the business performs KYC verifications, anti-money laundering processes, and provides users with two-factor authentication.
CEX.IO is a perfect example of a reputable exchange. Users are protected by a PCI DSS level 1 certificate. Furthermore, the platform has proven to have a high level of security for storing, processing, and transferring credit card payments.
Other places to buy SHIB
There are two more ways to buy SHIB outside of CEX.IO.
The first one is a digital currency machine (DCM).
Find a crypto DCM or ATM in your city, choose the number of coins you need to buy, provide theSHIB wallet address where you’ll receive the digital coins.
Scan the QR code of your wallet address.
Insert the cash and complete the purchase, the transaction should take a few minutes.
What to do after I buy Shiba coin?
When you already have SHIB coins in your wallet, there are a few ways you can get profit from them.
Storing/holding Shiba Inu coins
Many users held Shiba coins because they expected their value to rise. Shiba coins can be safely stored on crypto wallets or on exchange accounts like CEX.IO platform, which is highly user-friendly and secure.
Trading SHIB coin
CEX.IO is a fast, secure, and industry-leading crypto trading platform that lets you trade Shiba coins for multiple cryptocurrencies. You can trade Shiba coins on the CEX.IO platform with a variety of trading pairs.
Earning Shiba Inu coin
By staking coins, you can earn rewards. Staking allows you to increase your holdings in staking coins that would otherwise be sitting in a wallet or trading account.
What apps can I use to buy Shiba Inu?
If you want to buy SHIB via mobile phone, CEX.IO mobile app makes it easy for you. The mobile app allows you to trade, buy, sell, keep, and store crypto anywhere, anytime. This app may prove useful during a trip or in the event you have no access to your PC or laptop. To buy crypto like Shiba Inu coin on a mobile device, you need to download the CEX.IO app in Google Play or App Store and follow the instructions:
Log in or create an account in the app.
The Buy/Sell icon will appear on the bar. Click on it.
Choose the Buy tab.
Then, select SHIB from the list of crypto.
Pick the fiat currency you'd like to use to buy digital assets.
Choose one of the packs with the required amount or enter your own amount. Market prices will remain fixed for two minutes.
Click "Buy now."
Make sure all the information is correct.
Select the linked credit or debit card with which you want to purchase digital assets or add another one.
Click “Proceed” to finish.
SHIB coins will be added to your account within a few minutes.
Still looking for answers? Read on for a list of our most frequently asked questions on this topic.
Should I buy SHIB coin?
In order to truly find the answer to this question, you would need to learn crypto market fundamentals and take an inventory of your own personal finance goals. Learning the basics of technical analysis is one avenue you can take in order to determine whether Shiba Inu coins are a good investment. By prioritizing crypto market fundamentals and technical analysis, you can analyze charts, compare current cryptocurrency prices, and determine the best time to buy or sell any cryptocurrency.
What are crypto loans and how to get them?
CEX.IO Loan is a service allowing you to borrow various digital assets. It offers interest rates starting at 8%. We can lend a minimum of 500 USD (or 500 EUR) to users, with a minimum seven-day repayment period. The loan-to-value (LTV) of each currency varies between 30% and 60%.
A loan can be as high as 100,000 USD/EUR. Contact CEX.IO customer service or your account manager if you need a higher loan.
You can withdraw fiat funds in any of the following ways: bank transfer, instant credit card transaction, Skrill, Epay, Advcash.
We make the loan process as simple as possible. If you are a new user, create an account on CEX.IO. Send Bitcoin or Ether to your account wallet. On the calculator, calculate the loan amount, agree to the terms, and apply for the loan.