Memecoins have carved out a significant niche in the crypto market, symbolizing investment opportunities and a vibrant community culture. Shiba Inu (SHIB) is a fan favorite, drawing investors and enthusiasts into the “Shib Army.” Potential investors are searching for the best platforms to buy Shiba Inu in 2024 as interest surges. This guide meticulously curates the top six platforms for acquiring SHIB, ensuring investors are well-informed to make their investment journey smooth and successful.
Methodology
BeInCrypto selected Coinbase, Wirex, Kraken, OKX, Bitget, and KuCoin as suitable platforms for buying Shiba Inu (SHIB), primarily due to their robust security measures and diverse offerings. Each platform was tested by BeinCrypto product teams for a minumum of six months.
Security is a paramount consideration in the cryptocurrency space, and each platform prioritizes protecting users’ funds and personal information against potential threats. Coinbase, for instance, employs advanced security protocols to safeguard accounts and transactions, reassuring both novice and experienced traders. Similarly, Wirex implements stringent security measures to ensure the safety of SHIB investments, offering peace of mind to users while providing seamless access to digital assets through its innovative features like the Wirex card.
Kraken, OKX, Bitget, and KuCoin also stand out for their commitment to security, employing various measures such as cold storage for the majority of deposits and regular audits to ensure the integrity of their platforms. This is crucial for SHIB investors looking for reliable platforms to execute their trades safely. Additionally, these platforms offer a wide range of cryptocurrencies, including SHIB, providing users with ample opportunities for portfolio diversification.
Furthermore, BeInCrypto considered the user experience and accessibility of each platform when recommending them for purchasing SHIB. Coinbase, Wirex, Kraken, OKX, Bitget, and KuCoin offer user-friendly interfaces and comprehensive customer support, catering to both novice and seasoned traders. Moreover, these platforms provide educational resources to help users make informed decisions and navigate the complexities of cryptocurrency trading effectively. Overall, BeInCrypto’s selection of these platforms reflects a holistic approach that prioritizes security, usability, and diverse offerings to meet the needs of SHIB investors.
To learn more about BeInCrypto’s verification methodology, follow this link.
6 best platforms to buy Shiba Inu (SHIB)
1. Coinbase
Coinbase is a prominent cryptocurrency exchange that offers access to more than 200 cryptocurrencies, making it a versatile platform for both novice and experienced traders. The platform stands out for its low minimum to fund accounts, quick crypto withdrawals, and multiple trading platforms, including the original Coinbase platform with a simple interface for U.S. dollar purchases and Coinbase Advanced Trade for crypto-to-crypto transactions with advanced charting functions.
However, one of the major drawbacks of using Coinbase is its fee structure, which is considered higher than other cryptocurrency exchanges. The fees on Coinbase can vary widely depending on several factors, including the payment method, order size, market conditions, and the platform used for trading. Coinbase charges a spread on cryptocurrency sales and purchases, and this rate can vary. Additionally, miners’ fees are charged for transactions such as sending cryptocurrency off the Coinbase platform, which are disclosed at the timeof the transaction.
Coinbase Advanced Trade, set to replace Coinbase Pro, offers fees based on a maker/taker model, with a maximum of 0.4% for the maker and 0.6% for the taker, depending on your 30-day trailing volume. Coinbase Pro, while being phased out, has been known for its lower fees compared to the main Coinbase platform, with fees for taker orders between 0.05% and 0.60%, and maker orders between 0.00% and 0.40%, based on trade volume.
To minimize fees on Coinbase, it’s advisable to understand the link between Coinbase and Coinbase Pro/Advanced Trade. Transfers between Coinbase and Coinbase Pro are free and instant, offering a way to enjoy lower fees. For those still able to use Coinbase Pro, or transitioning to Advanced Trade, leveraging these platforms can significantly reduce the costs associated with trading and transacting in Shiba Inu.
• Broker and exchange services
• Learn-to-earn products
• Coinbase Earn
• Coinbase Vault for custodial services
- Low fees (with Coinbase One membership)
- Regulated for safety
- Majority of assets held in cold
- Wide selection of crypto and payment options
- Outages during high traffic
- Fees can be slightly high compared to competitors
2. Wirex
Wirex is a distinctive platform in the cryptocurrency market, particularly for those interested in buying Shiba Inu (SHIB). It combines the flexibility of managing traditional and digital currencies, offering a seamless experience for users looking to diversify their crypto portfolios. Wirex’s standout feature, the Wirex card, enables real-world spending of SHIB and other cryptocurrencies, bridging the gap between digital assets and everyday transactions.
While some platforms might deter users with high fees, Wirex maintains a competitive fee structure for transactions and currency exchanges. This is crucial for SHIB investors looking to maximize their returns on investment by minimizing the costs associated with buying and selling the cryptocurrency.
Wirex incentivizes users through its Cryptoback™ rewards program, offering cashback in cryptocurrency for transactions made with the Wirex card. This feature not only enhances the value proposition of holding and spending SHIB but also encourages the ongoing use of Wirex for daily financial activities.
Security is paramount in the cryptocurrency space. Wirex’s commitment to robust security protocols ensures that users’ SHIB investments are safeguarded against potential threats, providing peace of mind for investors. It is worth noting that the Wirex platform and mobile app are designed with the user experience in mind, making it straightforward for both beginners and experienced traders to buy Shiba Inu. This ease of use is complemented by educational resources to help users make informed decisions.
Despite these advantages, potential Wirex users should consider the platform’s fee structure for certain services, such as ATM withdrawals beyond specified limits, which might incur additional charges. However, the platform’s benefits, particularly for Shiba Inu investors looking for real-world utility and efficient management of their investments, position Wirex as a compelling choice among cryptocurrency exchanges.
• Wirex Visa card
• Crypto back rewards
• Send and receive crypto payments globally
• Mobile app on Android and iOS
- Available in multiple countries
- Crypto rewards for in-store and online spending
- More than 30 supported fiat currencies
- Earn and borrow products
- Fee structure is not clear
- Limited selection compared to competitors
3. Kraken
Kraken is a well-regarded cryptocurrency exchange that offers a broad array of features, making it an attractive platform for purchasing Shiba Inu (SHIB) and other digital assets. Its strengths lie in its security, a vast selection of cryptocurrencies, competitive fees, and advanced trading options, which cater to a wide spectrum of crypto enthusiasts, from beginners to advanced traders.
This platform is noted for its solid security measures, including keeping the majority of deposits in cold storage and employing rigorous operational protocols to protect users’ funds. The exchange offers more than 230 cryptocurrencies, providing users a wide range of trading options and opportunities to diversify their portfolios. This vast selection includes popular and emerging tokens like SHIB, making Kraken a one-stop shop for crypto trading.
Kraken’s fee structure is designed to accommodate traders of all volumes, offering relatively low fees for its more advanced trading services. The platform employs a maker-taker model, with fees that decrease as users’ trading volume increases, encouraging active trading. For instance, fees for instant buy services might be higher, but traders using Kraken Pro can enjoy lower fees, with maker fees starting as low as 0.16% and taker fees up to 0.26%, depending on the 30-day trading volume. This tiered fee system makes Kraken economical for those looking to trade SHIB and other cryptocurrencies.
It offers advanced trading options, such as futures trading with up to 50x leverage, allowing traders to speculate on price movements and hedge their portfolios effectively. The platform also provides Over-The-Counter (OTC) trading for large orders, ensuring privacy and personalized service. Furthermore, Kraken is distinguished by its customer support, offering 24/7 live phone and chat support, ensuring users can access assistance whenever needed.
- Multiple payment methods
- Vast selection of cryptocurrencies
- Low spreads
- Proof of reserves
- Some services restricted by region
Established in 2017 and headquartered in Seychelles, OKX has become a significant player in the cryptocurrency market, catering to a global audience with a broad spectrum of financial services, including spot and derivatives trading and various DeFi services.
It supports over 350 cryptocurrencies and offers over 500 trading pairs, including SHIB/USDT, providing traders various options for diversifying their portfolios. OKX is also known for its low trading fees, which range from 0.1% to 0.2%, based on the user’s monthly trading volume. This tiered fee structure benefits both high-volume and casual traders, making it cost-effective to trade SHIB and other cryptocurrencies.
OKX boasts high liquidity, ensuring efficient trades and the ability to handle large volumes without significantly impacting the market price, which is crucial for SHIB traders looking for swift and large transactions. Moreover, OKX caters to experienced traders by offering advanced trading features, including margin trading, futures, and trailing stop orders. These options give traders the tools to execute complex strategies and leverage their positions.
Despite a notable security incident in 2020, OKX has maintained strong security measures to protect user assets. However, potential users should consider this aspect when choosing an exchange for trading SHIB. OKX provides an interactive and user-friendly interface, ideal for beginners and seasoned traders. The platform’s design facilitates easy navigation, making it simpler for users to trade SHIB and other cryptocurrencies.
It’s important to note that OKX is unavailable in North America, including the US and Canada, which might limit accessibility for traders in these regions. While OKX has features beneficial for experienced traders, new users may find the platform and its advanced trading options overwhelming.
• Derivatives trading
• Margin trading
• Trading bots
• Earn products
• Loan and borrow
- Proof-of-reserves
- Vast selection of products and services
- Low fees
- Insurance funds for platform safety
- Unavailable in many countries
5. Bitget
Bitget stands out in crypto trading for its extensive offerings and competitive fee structure. It supports over 550 coins and tokens, including popular ones like Shiba Inu (SHIB), and offers more than 674 spot trading pairs and over 100 futures trading pairs.
A notable feature of Bitget is its copy trading platform, allowing users to replicate the trades of other investors. This service is free to use, and traders can earn up to 8% of the profits generated by their followers. Bitget’s futures trading options include USDT-M Futures, Coin-M Futures, and USDC Futures, with leverage of up to 125x available for futures trading.
The platform also boasts a transparent fee structure, charging a standard trading fee of 0.1% for spot trades, which can be reduced to 0.08% by paying with BGB tokens. Futures trading fees are set at 0.02% for makers and 0.06% for takers, and the platform offers zero fees for fiat deposits and crypto purchases with a credit or debit card. However, network fees apply for withdrawals.
For those interested in joining Bitget, the registration process involves email or phone sign-up, mandatory KYC verification to comply with anti-money laundering and counter-terrorism financing regulations, and various deposit methods, including bank transfer, credit card, or cryptocurrency. The platform is unavailable in some regions, such as the US and the Balkans.
Bitget’s diverse trading options, competitive fees, and innovative features like copy trading make it a strong contender for those looking to buy Shiba Inu. Its approach to security, including the use of a comprehensive protection fund and periodic proof of reserves audits, further underscores its commitment to user safety.
- Low fees
- Regulatory compliance in multiple regions
- Spot trading coupons
- Supports multiple cryptocurrencies
- Not available in many countries
6. KuCoin
Established in 2017 and headquartered in Seychelles, KuCoin has quickly ascended to prominence within the crypto market. Known for its user-friendly platform and a vast array of trading options, KuCoin caters to both novice and seasoned traders. The exchange is particularly noted for its competitive fee structure, diverse market offerings, and innovative trading features, setting it apart as a dynamic player in the cryptocurrency space.
Its fee system is designed to benefit its users, with spot trading fees starting as low as 0.1%. These fees can be further reduced by holding KCS (KuCoin’s native token) or increasing trading volume, offering significant savings for active traders. The exchange operates on a tier-based system, where higher trading volumes or KCS holdings can lead to even lower fees, making it an attractive option for high-volume traders.
The platform supports a wide range of cryptocurrencies, with over 700 coins available for trading across various pairs. This extensive selection includes major tokens like Shiba Inu (SHIB) and numerous altcoins, providing traders ample opportunities for portfolio diversification. The platform also offers various order types, including Limit Orders, Market Orders, and Stop Orders, accommodating different trading strategies and preferences.
Among its many features, KuCoin offers a trading bot, allowing users to automate their trading strategies and futures trading, enabling leveraged cryptocurrency trading. These tools enhance the trading experience, allowing users to capitalize on market movements efficiently. Additionally, KuCoin Spotlight and KuCoin Earn are unique offerings that allow users to engage with early-stage crypto projects and earn passive income through staking or savings.
KuCoin’s platform is celebrated for its intuitive design and ease of use, making it accessible to users of all experience levels. The exchange also provides robust customer support, available 24/7, to assist users with queries or issues. This focus on user experience is complemented by educational resources and a community-focused approach, fostering a supportive environment for traders.
• Derivatives trading
• Earn products and staking services
• Fractional NFTs
• Kucoin Visa card
- Majority of funds held in cold storage
- Proof of reserves
- Low fees
- Kucoin Insurance fund
- Does not accept fiat
What to look for when buying SHIB
| Platform | Fees | Payment Methods | Security | Availability |
|---|---|---|---|---|
| Coinbase | $0.99-$4.19 | Bank transfer, debit/credit, and 4+ | Publicly traded and regulated in multiple countries, including the U.S. | 100+ countries |
| Wirex | 0% | Bank transfer, debit/credit, and crypto | Money transmitter licenses in multiple regions | 130+ countries |
| Kraken | 0.16% (taker) | 0.26% (maker) for Kraken Pro | Debit/credit, Apple/Google Pay, and 2+ | Regulated by FinCEN, FINTRAC, FAC, and holds multiple licenses | 100+ countries |
| OKX | 0.08% (maker) | 0.1% (taker) | Crypto and third-party providers | OKX Risk shield and Insurance funds | 100+ countries |
| Bitget | 0.1% | Debit/credit, crypto, bank transfer, and 2+ | Regulated by FCA, AUSTRAC, and ASIC | 100+ countries |
| KuCoin | 0.1% | Crypto and third-party providers | KuCoin Insurance fund and proof of reserves | 200+ countries |
When buying Shiba Inu (SHIB), there are several factors to keep in mind.
The platform’s security, liquidity, fees, and user interface are crucial. Security ensures your investment is protected, while liquidity allows you to buy and sell SHIB without significantly affecting its price. Low exchange fees are essential as they can accumulate, impacting your overall investment return.
Additionally, a platform that is easy to use can significantly enhance your trading experience. Flexibility in payment options for depositing fiat currency is also a significant advantage.
Which is the best Shiba Inu wallet?
Regarding the best wallet for Shiba Inu, choosing one that supports ERC-20 tokens is essential since SHIB is an Ethereum-based asset. Hardware wallets like Ledger or Trezor offer the highest security by storing your tokens offline.
Software wallets, including MetaMask or Trust Wallet, provide convenience and ease of use, with MetaMask being particularly advantageous for those engaging in decentralized finance (DeFi) activities within the SHIB ecosystem
Choose the best platform for you
If you’re looking to buy Shiba Inu, most major cryptocurrency exchanges now list the coin, offering various options for potential investors. Kraken stands out for its low trading fees, high liquidity, and volume, ensuring you can trade SHIB efficiently. KuCoin and OKX are also notable for their user-friendly interfaces and competitive fees, making them excellent choices for new and seasoned investors.
However, Coinbase, despite higher fees, is praised for its exceptional user experience, making it a preferred option for beginners. For those deeply integrated into the SHIB ecosystem, ShibaSwap, the decentralized exchange of the Shiba Inu ecosystem, offers direct support and benefits to the community. However, it might need more liquidity found on more prominent exchanges.
Frequently asked questions
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