Want to Buy Shiba Inu Coin on Binance App? But don’t know how to buy it from Binance? Don’t worry we are here to help you.
The process of buying SHIB on Binance is very simple. In this article, you will learn how to buy Shiba INU from the Binance mobile app.
Buy Shiba Inu (SHIB) On Binance Mobile App:
You can’t directly buy SHIB with Fiat currency. First, you have to buy cryptocurrencies like BTC, USDT, or BNB. It looks complicated but it is super easy just follow these steps:
Step 1: Make an account on Binance with your email address and create a strong password.
Step 2: Verify your account on Binance by providing your information like name, date of birth, country of residence, phone number, etc.
Step 3: Deposit Fiat into your Binance account.
Step 4: Buy USDT with Fiat money. (We taking USDT for example. Apart from USDT, you can buy BTC or BNB the process will be the same.)
Step 5: Search for SHIB/USDT, Click on it.
Step 6: Convert USDT to Shiba Inu.
Done, after doing this you’ll be able to find your purchased Shiba Inu coins in your Binance wallet.
What is Shiba Inu?
Shiba Inu (SHIB) is a decentralized cryptocurrency that runs on the Ethereum blockchain, the cryptocurrency was founded in August 2020 by an anonymous group/individual called Ryoshi.
The Shiba Inu is a meme coin inspired by the Japanese hunting dog Shiba Inu. The coin is made with the aim to “KILL DOGECOIN.”
Shiba Inu is said to be the biggest competitor of Dogecoin. SHIB is an ERC-20 coin, it is compatible with the vast Ethereum ecosystem, this is the best thing about Shiba Inu which makes it better than Dogecoin.
The Meme Token has grown into a vibrant ecosystem, the Shiba Inu ecosystem has three tokens and many other services that users can enjoy.
At the time of writing, according to CoinMarketCap, Shiba Inu ranks 13th with a market cap of $18.56 Billion. Shiba Inu has a circulating supply of 549.06 Trillion coins.
What is Binance?
Binance is the largest cryptocurrency exchange in the world, with a daily trading volume of over $100 billion. It was founded in 2017 by a Chinese-Canadian business executive, Changpeng Zhao.
Binance exchange offers crypto-to-crypto trading in over 400 cryptocurrencies and virtual tokens. Binance is considered to be the most secure crypto exchange.
The name of the exchange “Binance” is derived from the combination of two words “Bitcoin” and “Finance“.
The Binance exchange supports over 40 fiat currencies. The exchange supports most of the fiat currency out of all the crypto exchanges.
The exchange is accessible in almost every country of the world – unless the country blocks Binance for some reason.
The exchange also has its own Blockchain-based cryptocurrency called Binance Coin (BNB).
Where else can you buy Shiba Inu instead of Binance?
No there is nothing wrong with Binance. You can buy Shiba Inu from Binance. We are telling this just to increase your information.
Shiba Inu is a famous coin, you will find it on almost all cryptocurrency exchanges. According to CoinRankings, Shiba Inu is available on over 60 crypto exchanges.
Some popular crypto exchanges where SHIB is listed are Coinbase, Crypto.com, Kucoin, Huobi Global, and Kraken. If you do not want to buy SHIB from Binance then you can buy from these exchanges.
[Disclaimer: The content of this article is not intended as financial advice, and should not be construed as such. Neither readaboutcrypto.com nor the author is responsible for any investment decision made by any reader.]