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How to buy Shiba Inu coin in India (beginner’s guide)

Cryptocurrencies like Dogecoin and SafeMoon are gaining record-breaking numbers in terms of market value. The newly introduced Shiba Inu coin seems to be on the same path.

Recently it has gained a lot of popularity among crypto traders. It resembles the popular meme cryptocurrency – Dogecoin, which has the famous Shiba Inu dog breed’s face as its symbol.

Also read: How to Buy Dogecoin in India

At the time of writing this article, Shiba Inu’s market cap sits at $13 billion, which grew from nothing in a matter of just a few days.

How to buy Shiba Inu coin in India (beginner’s guide)

How to buy Shiba Inu coin in India

If you are looking forward to buying Shiba Inu coins in India, then you have to use a cryptocurrency exchange that lists this coin on its platform.

You can use crypto exchanges like Binance and CoinDCX to purchase Shiba Inu coins in India.

Also read: Best Crypto Exchanges in India

The process is super easy. First off, you have to complete your KYC, which takes no time to get verified. In case you’re stuck with a pending KYC, try contacting the support of the exchange.

deposit money

Second, you have to deposit money in your exchange wallet. Most Indian crypto exchanges support popular payment options like UPI and internet banking (NEFT/IMPS). However, foreign exchanges like Binance and Coinbase only support P2P (peer-to-peer) trading to purchase cryptocurrencies using INR on their platform.

P2P trading in WazirX
P2P trading

Now that you have deposited money, you can begin purchasing Shiba Inu coins. You can also set the buying price according to your preference. If you place a limit order, you will be able to complete your purchase at the desired price, but that totally depends on if the actual coin hits that limit order price.

Note: Investing in cryptocurrencies that are based on memes can be of high risk. The past returns may look very profitable, but you have to be very careful before investing in such coins.

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