If you’re looking to jump on the bandwagon by investing in Shiba Inu – many Australian crypto exchanges now support this popular meme coin.
In this beginner’s guide, we’ll show you how to buy Shiba Inu in Australia at low fees. We’ll also discuss some of the reasons why this speculative crypto-asset continues to outperform the market and what risks you need to consider before investing.
How to Buy Shiba Inu Coin in Australia – Quick Guide
To buy Shiba Inu in Australia right now – follow the steps below to complete your purchase with eToro.
By choosing this ASIC-licensed platform, you can open an account and invest just $10 into Shiba Inu in less than five minutes.
- ✅ Step 1: Open an eToro Account
First, visit the eToro homepage and open an account. This is a standard procure that will require some contact details and personal information from you. To verify your account, upload some ID. - 💳 Step 2: Deposit Funds
You only need to deposit $50 at eToro as a first-time customer. Australians can choose from a debit or credit card, local bank wire, or an e-wallet like Paypal. - 🔎 Step 3: Search for Shiba Inu
Finding Shiba Inu on eToro is as simple as typing in the name of the crypto asset via the search bar and clicking on ‘Trade’. - 🛒 Step 4: Buy Shiba Inu
The final step is to enter your stake into the ‘Amount’ field and press the ‘Open Trade’ button to confirm your Shiba Inu investment.
And just like that – you’ve just learned how to buy Shiba Inu coin in Australia.
If this is your first time learning how to invest in cryptocurrency – scroll down to read our more detailed beginner’s guide.
Where to Buy Shiba Inu Coin Australia
Before you can complete your investment, you need to think about where to buy Shiba Inu. As noted above, many exchanges in Australia give you access to this digital currency.
However, when it comes to supported payment methods, fees, and safety – the service offered by exchanges can vary considerably.
As such, below we provide reviews of the best crypto exchanges to consider when deciding where to buy Shiba Inu in Australia.
1. eToro – Overall Best Place to Buy Shiba Inu in Australia
eToro is by far the best place to buy Shiba Inu coin in Australia for its strong commitment to regulation and low pricing structure. Regarding the former, you can deposit funds into your eToro account with a debit or credit card and pay just 0.5%. In comparison, Coinbase charges nearly 4% for the same transaction.
You can also deposit funds at a fee of 0.5% when using an e-wallet like PayPal or Skrill, or a local bank transfer. Either way, new clients opening an eToro account from Australia are required to deposit just $50. This will appeal to those that wish to buy Shiba Inu coin online with a small amount of capital.
When it comes to trading commissions, eToro offers a very competitive and transparent pricing structure. That is – you will pay just 1% of the trade size, plus the market spread. Once you have invested in Shiba Inu, your tokens will be deposited into your eToro web wallet. They can remain there until you decide to sell your Shiba Inu tokens back to Australian dollars.
Or, if you wish to have more control over your Shiba Inu coins, you can also download the eToro crypto wallet for your iOS or Android phone. This comes with a wide range of security tools – including regulation from the Gibraltar Financial Services Commission. The eToro wallet also permits in-app token exchanges across over 500 pairs.
If you’re looking to access a wide variety of digital currencies but you’re not sure which projects are right for you, eToro allows you to invest in cryptocurrency across 60 different tokens. Some examples of popular coins offered by the platform include Bitcoin, Decentraland, Chainlink, Uniswap, AAVE, Ethereum, Cardano, and more.
In fact, you can even invest in a smart portfolio through a single trade – which will give you access to over a dozen different cryptocurrencies. Best of all, crypto smart portfolios at eToro are professionally managed on your behalf. Australians also like the copy trading feature at eToro – which allows you to automatically replicate the investments of an experienced investor.
Cryptoassets are a highly volatile unregulated investment product.
2. Crypto.com – Buy Shiba Inu and Earn Interest on Your Investment
Another top-rated exchange to consider when deciding where to buy Shiba Inu is Crypto.com. Launched in 2016, Crypto.com is now one of the most popular crypto ecosystems globally. In addition to offering traditional exchange services, the platform also offers crypto interest accounts, loans, debit cards, and more.
In choosing Crypto.com to buy SHIB coin in Australia, you can deposit funds via a local bank transfer or a debit/credit card. If you’re in a hurry, then the latter is processed instantly, albeit, at higher fees. Bank transfers are processed fee-free but naturally – can take a few days to clear.
Looking at the platform’s pricing structure, Crypto.com charges a standard commission of 0.4% per slide – which is competitive. After all, this amounts to just $4 for every $1,000 that you risk on Shiba Inu. We also like Crypto.com for its diversified library of supported digital currencies – which now exceeds 250 markets.
But perhaps the best feature offered by this exchange is that you can earn interest on your Shiba Inu investments. As of writing, the maximum yield offered is 5% per year. This would, however, require you to stake CRO tokens (the native token of Crypto.com) and lock your Shiba Inu away for three months.
Cryptoassets are a highly volatile unregulated investment product.
3. Binance – Trade Shiba Inu at the Largest Crypto Exchange Globally
Another option you have it comes to buying Shiba Inu in Australia is Binance. This crypto exchange is actually the largest globally in terms of trading volume. Traders using the Binance exchange appreciate the platform’s 600+ supported cryptocurrencies and 1,000+ markets.
Moreover, the platform also offers super-low commission fees. For example, once you have money in your Binance account, you can buy Shiba Inu in Australia at a commission of just 0.10%. You will, however, need to pay a fee to deposit funds via a debit or credit card – which will vary depending on the third-party processor that you choose.
Bank transfers are free, as of BPAY payments. Once you have invested in Shiba Inu here, Binance also offers crypto savings accounts. As noted just a moment ago in our Crypto.com review, this enables you to generate a yield on your Shiba Inu tokens. With that said, although Binance offers flexible savings plans – the yield on offer stands at just 0.5%.
Nonetheless, should you wish to diversify across other supported digital currencies, much higher APYs are on offer. For instance, the popular metaverse crypto coin Axie Infinity is yielding an APY of 20%. Finally, Binance offers plenty of options when it comes to storing your Shiba Inu coins – including both a web and mobile wallet.
Cryptoassets are a highly volatile unregulated investment product.
Should I Buy Shiba Inu Coin?
Many market commentators argue that Shiba Inu is nothing more than a meme coin and as such – its value is largely based on speculation than anything intrinsic. If you’re interested in meme coins, you might want to also check out our how to buy Dogecoin guide.
With that said, since Shiba Inu was launched in 2020, it is actually one of the best performing cryptocurrencies of all time.
To determine whether or not you should buy Shiba Inu in Australia – read on.
Benefits of Buying Shiba Inu?
The main benefits of buying Shiba Inu from an investment perspective are discussed in more detail in the sections below.
Performance Since 2020
Shiba Inu was first launched in August 2020 – which makes it an extremely young digital currency. According to CoinMarketCap, when Shiba Inu was released, it was available to buy at a price of just $0.000000000056 per token.
CoinMarketCap also notes that Shiba Inu hit an all-time of $0.00008845 per token in late 2021. This means that in just over a year, Shiba Inu generated unprecedented gains of over 157 million percent.
In other words, an investment of $10 when Shiba Inu was first launched would have been worth over $1 billion at its peak.
Shiba Inu has Dipped
Since Shiba Inu – and many other digital currencies for that matter, last hit an all-time high in late 2021, its value has since dipped in the market.
As of writing, you can now buy Shiba Inu in Australia for just $0.00002671 per token. In comparison to its prior all-time high, this represents a discounted entry price of nearly 70%.
Micro-Value Token
Another reason why you might decide to buy Shiba Inu in Australia is that you can purchase a significant number of tokens without needing to risk large sums of investment capital.
For example, let’s suppose that you were to invest $200 at a price of $0.00002671. In doing so, this would get you more than 7.4 million Shiba Inu tokens.
The same investment into Ethereum would get you 5.7% of a single ETH token.
All Tier-1 Exchanges List Shiba Inu
Another sign that supports the case for Shiba Inu is that virtually every tier-one exchange in the cryptocurrency market lists the token for sale.
Not only does this include the likes of eToro, Crypto.com, and Binance – but also Coinbase, Gate.io, Huobi, FTX, Kraken, and more.
This offers the project legitimacy, as getting listed on just a single tier-one exchange is hard enough. But, the fact that Shiba Inu is available on all top-rated platforms suggests that the meme coin is perhaps here to stay.
ShibaSwap
The team behind Shiba Inu is clearly trying to find ways to prove to the world that their digital token is more than just a meme coin.
And, at the forefront of this is SushiSwap. In a nutshell, SushiSwap is a decentralized exchange that enables investors to buy and sell Shiba Inu, as well as engage in staking. Users can also generate a yield by proving funds to a Shiba Inu liquidity pool.
More features – including an NFT marketplace and metaverse, are in the pipeline. Ultimately, as Shiba Inu continues to expand its crypto ecosystem, this can only be a good thing for the value of its token.
Ways of Buying Shiba Inu Coin
Once you have researched the ins and outs of this project – the next thing to do is understand the best way to buy Shiba Inu in Australia.
We found that the following payment methods can be used when completing your Shiba Inu purchase with an online exchange:
Buy Shiba Inu With Credit Card or Debit Card
By opening an account with eToro or Crypto.com – you can buy Shiba Inu in Australia with a credit or debit card. All major card issuers are supported – including Visa, MasterCard, and Maestro.
In terms of fees, eToro is the best option here. This is because the exchange charges just 0.5% on debit/credit card deposits made in Australian dollars. Moreover, eToro will process your transaction instantly – after you have uploaded some ID.
Buy Shiba Inu With Paypal
The only two crypto exchanges that we came across that allow you to buy Shiba Inu with Paypal were eToro and Coinbase. The latter, however, charges a whopping 3.99% on Paypal deposits.
As such, you are once again better off using eToro – as the exchange charges just 0.5% on all supported e-wallets.
What is the Best Way to Buy Shiba Inu Coin?
Shiba Inu is now a top-20 crypto asset when it comes to market capitalization. Naturally, this means that there are many different ways to access this popular token.
For instance, if you decide to use eToro or Crypto.com, you can buy Shiba Inu in Australia directly from the platform. Meaning – you do not need to trade with other market participants or worry about how much liquidity is available.
However, if you use a traditional crypto exchange, the process does become a bit more challenging – especially if trading volumes on Shiba Inu markets are low.
Furthermore, conventional exchanges that operate without a license – of which there are many, rarely allow you to buy Shiba Inu with Australian dollars. Instead, you might only be able to fund your account with another cryptocurrency – like Bitcoin. This means you would have to buy Bitcoin and transfer those digital assets to from your crypto wallet.
And of course, this will be pretty useless if you do not own any cryptocurrency tokens right now. As such, the best way to buy Shiba Inu in Australia is to use a regulated exchange that accepts Australian dollars.
Shiba Inu Coin Price?
We mentioned earlier that since Shiba Inu was launched in August 2020, the digital currency has exploded in value by more than 157 million percent. As such, cryptocurrency is now a multi-billion dollar asset class.
On the one hand, this means that similar gains are virtually impossible, as there is only so much bigger that Shiba Inu can get in terms of market capitalization. With that said, there is certainly plenty of upside potential left.
If you’re thinking about investing in Shiba Inu but you’re still sitting on the fence – just remember that as of writing, you can still enter the market at less than $0.00003 per token.
Not only does this mean that you are getting a huge discount from its prior peak, but you don’t need to risk a lot of money to buy a large number of tokens.
Shiba Inu Coin Price Prediction?
Shiba Inu has created a lot of hype in the broader markets. And right so – this digital currency has made a lot of early investors very wealthy. However, what this also means is that there is a lot of unreliable information in the public domain – especially when it comes to Shiba Inu price predictions.
For instance, when researching the market, we came across numerous news articles making a case for Shiba Inu hitting $0.001 by the end of the year.
This Shiba Inu price prediction would require the digital currency – based on prices as of writing, to increase by a further 3,200%. And in doing so, this would mean that Shiba Inu would replace Ethereum as the world’s second-largest cryptocurrency in terms of market capitalization.
On the other hand, we also came across several Shiba Inu price predictions that argue for a return to its prior all-time high of $0.00008 – which is most certainly achievable before the close of 2022. Based on prices as of writing, this would require an upside of just over 160%.
How to Buy Shiba Inu Coin Safely
You can buy Shiba Inu safely in Australia by ensuring that you:
- Only invest through an exchange or broker that is licensed by ASIC
- Avoid using peer-to-peer exchanges
- Keep your investment stakes to a minimum
- Learn the ins and outs of crypto wallet security
Once again, you can buy Shiba Inu in a safe and secure way by using eToro – which is not only licensed by ASIC but the platform also offers an institutional-grade web wallet.
This means that through a single hub – you can buy Shiba Inu and store your tokens safely without needing to have any knowledge of how wallets work.
How to Buy Shiba Inu Coin in Australia – Tutorial
Looking to buy Shiba Inu in Australia right now? If so, all you need to do is open an account with a trusted exchange like eToro, deposit some investment funds, and place a buy order on Shiba Inu.
If this is your first time learning how to buy Shiba Inu in Australia – follow our user-friendly walkthrough below:
Step 1: Open a Crypto Account
You can open an account with eToro easily and quickly by filling in the online registration form. Like any other account application, you will need to enter some personal details.
eToro will also need to verify your cell phone number. This can be achieved by entering the code that eToro sends to your phone via SMS.
Step 2: KYC Process
Next, you need to verify your identity. Unlike other exchanges in this space, the KYC process does not take several days to complete. Instead, eToro utilizes automated KYC technology that can verify your documents instantly.
First, you will need to upload a passport or driver’s license to prove your identity. Next, for proof of residency, upload a bank statement issued within the prior three months. Many other documents are allowed – so check at eToro for further information.
Step 3: Deposit Funds
Think about how much money you wish to invest in Shiba Inu. Then, enter this figure into the ‘Amount’ box so that you can make a deposit.
Take note, the minimum deposit at eToro for Australian clients is just $50. Moreover, you will be charged a small FX fee of 0.5%. Supported payment methods are inclusive of e-wallets, debit/credit cards, and online banking.
Step 4: Search for Shiba Inu
The next step is to enter ‘Shiba Inu’ into the search bar. As you start typing, you will notice that eToro suggests the relevant market.
When you see Shiba Inu appear, click on the ‘Trade’ button.
Step 5: Buy Shiba Inu From $10
Now you should see an order box – just like in the image below. If so, you can type in the amount of money that you wish to invest in Shiba Inu.
This can be any amount from just $10. To confirm your investment, click ‘Open Trade’.
How to Sell Shiba Inu
At any given time, you can log into your eToro account to sell your Shiba Inu tokens. This marketplace operates 24/7-so as soon as you place a sell order, eToro will execute it instantly.
And therefore, your Shiba Inu will be sold at the next best market price and the cash will be added to your eToro balance.
Conclusion
Shiba Inu is a popular meme coin that has generated highly unprecedented returns since it was launched to the public in August 2020. With plenty of upside left, now could be a great time to buy Shiba Inu in Australia.
For the best investment experience possible – consider using eToro. This ASIC-licensed platform supports small deposits of just $50 and you can fund your Shiba Inu investment easily with a debit/credit card.
Cryptoassets are a highly volatile unregulated investment product.
Be the first to comment