How to Buy Shiba Inu (SHIB)
The best way for Australian investors to purchase the cryptocurrency Shiba Inu (SHIB) is by using the eToro exchange. It provides fast and free AUD deposits through several payment methods, which include bank transfer, credit/debit cards, PayPal, POLi, Skrill or Neteller.
Begin trading SHIB on the AUSTRAC-licensed exchange, eToro with these four steps:
- Open an account: Sign up to the eToro exchange and complete the verification process.
- Deposit AUD: Click 'Deposit Funds', pick a method and deposit AUD to your eToro account.
- Find SHIB: Look for 'Shiba' in the search bar, and click 'Trade'.
- Buy Shiba Inu: Input the amount you wish to purchase and select 'Open Trade'.
Fees to Buy Crypto
When using the eToro exchange, the fees are relatively low. It offers free and instant AUD deposits and a small $5AUD fee for withdrawals. There is a flat 1% fee every time you buy or sell a cryptocurrency. There are no additional or hidden fees to pay on the platform. For a full breakdown of eToros pricing, visit eToros Fees Schedule.
Is Shiba Inu (SHIB) a Good Investment?
Memecoins like Shiba Inu (SHIB) have recently gained notable attention within the crypto sector due to their potential for returns and dynamic price movement. Although popular and listed among the top 20 cryptocurrencies by market cap, investing in SHIB, or any memecoin, often involves substantial risk due to their meme-based origin and the inherent volatility of the crypto market.
Investments in Shiba Inu are often perceived as speculative rather than strategic. As the coin grows, the likelihood of dramatic returns diminishes due to the increased demand needed to double the price. Prospective investors should to carefully examine their financial circumstances and investment goals before trading this token. Investing in Shiba Inu should be based on meticulous assessment and thorough understanding.
About Shiba Inu
Shiba Inu (SHIB) is a decentralised cryptocurrency, more commonly referred to as a ‘meme token’, pioneered in August 2020 by an anonymous person known as 'Ryoshi.' Inspired by Dogecoin, SHIB strived forward in the crypto universe with a vibrant, digitally-native community behind it. It leverages the Ethereum blockchain for its transactions, ensuring high security and swift operations.
Shiba Inu differentiates itself by employing the concept of total supply in quadrillions, which essentially positions it as a more affordable and accessible digital asset for a broader audience. Notably, SHIB also functions as the foundational currency for the ShibaSwap decentralised exchange, thereby broadening its utility beyond a meme token.
To conclude, the Shiba Inu (SHIB) token, one of the most popular meme coins, offers investors an exciting opportunity for potential returns in the dynamic cryptocurrency market. Trading this token has been simplified and secured through platforms like the eToro exchange, acclaimed for its compliance with ASIC and AUSTRAC guidelines, wide range of payment options, low fees, and user-friendly interface.