How to Buy a Shiba Inu Part in Canada – A Beginner’s Guide
The Shiba Inu has grown in popularity over the past year, increasing 1,600,000% since its inception in mid-2020. For reference, if you had invested £1,000 at the start of 2021, your investment would now be worth over £1.5m!
Don’t want to miss this crazy opportunity? Then read our article on how to buy Shiba Inu parts today. We will explain how to buy Shiba Inu parts in Canada, where to buy SHIB and a price prediction.
How to Buy a Shiba Inu Part in Canada – Four Quick Steps
Let’s take a quick 4-step look at how you can create a Bitbuy account today and buy SHIB in Canada:
Step 1: Open an account – Visit the Bitbuy.ca website and follow the on-screen instructions to create an account
Step 2: Deposit your funds – To buy Shiba Inu, you need to deposit funds into your account.
Step 3: Search SHIB – Use the search bar to find the SHIB part and select it.
Step 4: Buy Shiba Inu Parts – Select the amount of SHIB you wish to purchase and place your trade to add it to your account.
Where to Buy a Shiba Inu Part
Now that you have started investing in cryptocurrency in Canada, we will also review Crypto.com and Binance, to help you choose the best broker for your investment needs. We’ll cover the cost, ease of use, and pros and cons of each.
Founded in Toronto in 2016, Bitbuy is a Canadian crypto exchange. The platform is available on iOS and Android, and it’s easy to use on both. This makes it an excellent choice for novice investors. However, with its built-in Trading View feature, Bitbuy also allows for more technical analysis, which is great for investors who want to do advanced research on coins and price movements.
Bitbuy is a well-regulated platform, so investors can rest assured that they are dealing with a reputable broker. It offers comprehensive insurance through its partnership with BitGo. It is the world’s first digital asset trust company and all cryptos held in Bitbuy accounts are stored there. This means that your funds are protected.
Bitbuy offers the 15 most popular cryptos. These include Bitcoin, Ethereum, Cardano and of course Shiba Inu. An interesting point to consider is that when users transact with Bitbuy, they can do so through the Express Trade feature, which offers fast and hassle-free shopping.
As for fees, Bitbuy charges a 0.2% commission on buying and selling Express Trades. There is also a 1.5% withdrawal and deposit fee that investors should note. However, if users wish to deposit crypto from another wallet into their new Bitbuy account, no fees will be charged, which is a great point for users with pre-existing digital assets.
Simple and secure trade
Express trade function
Commercial view integration
· Only supports 15 crypto coins
Buy Shiba Inu in Canada on Bitbuy.
Our second pick for where to buy Shiba Inu parts in Canada is Crypto.com. Also founded in 2016, the platform has grown to support over 10 million users, underscoring its popularity. There are 250 coins supported, and these can be redeemed on iOS and Android.
The website is easy to use, making it a creation for beginners. However, unlike Bitbuy, there are no additional advanced features, so technical investors may struggle with the simple charts.
Crypto.com is highly secure and sports multi-factor authentication for all accounts. Crypto.com is also part of the FDIC program in the United States, which works with local banks to support up to $250,000 in insurance for accounts.
In terms of fees, new users can expect to pay around 0.4% for market maker fees. However, as users make more trades, this number decreases, so Crypto.com could be a great choice for highly active investors.
Buy Shiba Inu in Canada on Crypto.com.
Our final broker is Binance. It is the largest crypto exchange in the world, supporting tens of millions of users. It supports over 65 coins and over 500 crypto pairs, making it a great choice for building a diversified portfolio. Like our other two broker picks, it’s available on iOS and Android, and accounts are fairly easy to set up.
Binance also offers great security features. For example, users must pass an identity verification process each time they log into an account. In terms of Binance fees, a 0.5% commission is charged when buying or selling an asset. Investors should also be aware that when depositing funds with a credit card, they incur a 4.5% fee.
Binance helps meet the needs of newbie investors with a plethora of educational resources that can be helpful in learning more about the crypto markets and the latest news about them. On top of that, it also offers more advanced access to trading tools, catering to more experienced investors as well.
Buy Shiba Inu in Canada on Binance.
Ways to buy Dogecoin
Before purchasing Dogecoin, users must deposit funds into their accounts. The three exchanges we reviewed accept many payment methods, including debit/credit card transfer and e-wallet payments such as PayPal.
Buy a Shiba Inu part with PayPal
To purchase Shiba with PayPal, you must ensure that you have created a PayPal account and funded it before connecting it to your wallet. Once you have done this, you can select the PayPal option when adding funds to your account, and those funds will be taken to your PayPal wallet.
Buy Shiba Inu Parts with a Credit or Debit Card
The same process applies to purchasing SHIB with a credit or debit card. Simply connect your bank account to your broker account when adding funds. Investors should note that it is sometimes more expensive to add funds using a credit card than other payment methods.
Is the Shiba Inu part a good investment?
Meme Coin Popularity
Shiba Inu is a ‘meme coin’ based on a popular meme and inspired by Dogecoin. It has followed a similar trajectory to Dogecoin in that it has limited utility but has grown in popularity, building a strong community of investors that has been critical to its success.
As mentioned, the price of SHIB has increased by 1,600,000%. Although the crypto market offers high returns, these types of moves are almost unheard of in the space and have likely created many millionaire investors. Although past returns are not indicative of future performance, the thought of these gains certainly appeals to investors.
Another reason why now might be a good time to buy Shibu Inu coins is because of their Coinbase business. It is the 11th most popular coin on the exchange and currently has a buy rating of 69%. This signals that investor sentiment is generally bullish on SHIB, and at the current low price, this could be a great time to buy.
Shiba Inu Part Price
The current Shiba Inu price is £0.00001850. This has increased by 101,000% over 12 months.
Shiba Inu Parts Price Prediction
The great popularity of Shiba Inu bodes well for its future price. On top of that, the SHIB team recently announced that they plan to move into the Layer 2 space by building their own scalable network. This adds real value and could set it apart from its main competitor Dogecoin.
Its supply is also limited, which makes SHIB more attractive than DOGE for long-term value. However, it is still a very risky asset and its value may decline over time.
All in all, Shiba Inu could prove to be a great investment at the current low price. There is no guarantee that it will continue to be as profitable as past returns, however, with real utility and a strong community, it does appear to have some longevity.
If you want to buy SHIB coins today, we recommend doing so through Bitbuy. It accepts Canadian customers, is easy to use, highly secure, and has low fees.
Buy SHIB in Canada at Bitbuy.ca.
The above content is not editorial, and BCCL hereby disclaims all warranties, express or implied, with respect thereto, and does not necessarily warrant, guarantee or endorse any content. Crypto/NFTs are unregulated, are very risky, and there may be no regulatory recourse for any losses resulting from such transactions. Readers should exercise caution/due diligence and comply with all applicable laws, including but not limited to tax laws. The above content does not constitute investment advice or promote, suggest or present Crypto/NFT to solve financial difficulties/achieve financial security/act as an alternative to employment/income opportunity.