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Buy Shiba Inu (SHIB) in UK With GBP | CoinJar

Shiba Inu

SHIB

£0.000GBP

Figures shown refer to the past. Past performance is not a reliable indicator of future results. Pricing data is provided by CoinJar.

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Overview

#16Popularity

MemecoinAsset type

2020Active since

What is Shiba Inu?

How to Buy SHIB? Shiba Inu (SHIB) has been making waves in the cryptocurrency world for quite some time, capturing the attention of investors, meme enthusiasts, and dog lovers alike. But what exactly is SHIB, and why is it often referred to as “the Dogecoin killer”?

The Origins of Shiba Inu

Shiba Inu is an Ethereum-based memecoin (or altcoin) that features the Shiba Inu, a Japanese breed of hunting dog, as its mascot.

SHIB is often seen as an alternative to Dogecoin.

Both SHIB and Dogecoin fall into the category of meme coins, which means they are associated with a theme (in this case, the Shiba Inu dog) and often launched as a playful parody. But don’t underestimate their impact — meme coins can still pack a punch.

For example, Dogecoin is is the 10th most popular crypto by market capitalisation at the time of writing, beating out other cryptocurrencies that have genuinely useful features.

Investors are buying Shiba Inu (SHIB). SHIB is 18th by market cap (at the time of writing, April 2024), again it is more popular than some cryptocurrencies that are useful for many things.

Who created Shiba Inu?

Shiba Inu was created in August 2020 by an anonymous individual or group known as Ryoshi. The project emerged as an experiment in decentralised spontaneous community building.

Ryoshi believed that collective decentralisation could create something stronger than a centralised team ever could.

Key Features of Shiba Inu

Massive supply

SHIB had an initial circulating supply of one quadrillion coins. Yes, you read that right — abundant is an understatement. But this abundance has not diminished its appeal, seemingly.

Shibaswap and NFTs

The SHIB ecosystem extends beyond the token itself. It supports projects like Shibaswap, a decentralised exchange, and an NFT art incubator. So, it’s not just about the coin; it’s about the entire ecosystem.

Woof paper

Forget the traditional whitepaper — SHIB has a “woof paper”. The “white paper” outlines the project’s guiding principles. It’s all about community-driven development and the spirit of creating something out of nothing.

Shibarium

In January 2023, the SHIB community introduced Shibarium, a layer two blockchain designed to run on top of Ethereum. Its goals include reducing congestion, introducing staking, ensuring competitive gas fees, and supporting decentralised applications.

The SHIBArmy

The SHIBArmy, with its base of nearly 500,000 members, embraces Shiba Inu’s founding principles. These include starting from zero, not relying on an existing community or preassembled team, and, of course, a love for Shiba Inu dogs.

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How to buy Shiba Inu with CoinJar

Start your cryptocurrency portfolio with CoinJar by following these steps.

Step oneDownload the appGet the CoinJar app on iOS or Android.

Step twoCreate an accountCreate an account with CoinJar and verify your ID.

Step threeMake a purchaseBuy more than 60 cryptos using Faster Payments, SEPA, bank transfer, or a debit card.

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Frequently asked questions

Shiba Inu vs Dogecoin: What’s the difference?

Dogecoin was the original memecoin, created in December 2013 as a joke version of Bitcoin and built using essentially the same technology.

Shiba Inu was inspired by Dogecoin, but was deployed as an ERC-20 token on the Ethereum blockchain. This means that beyond being a purely tongue-in-cheek crypto, it also has the power to use smart contracts in the shape of dapps and DeFi.

Both are available on most cryptocurrency exchanges.

Will Shiba Inu coin reach $1?

As this would put the market cap of Shiba Inu slightly north of $589 trillion, the answer is most likely no.

Will Shiba Inu ever reach one cent?

While Shiba Inu will probably never reach 1 dollar, reaching one cent is more likely. But it seems to be a lofty goal.

If $0.01 per token was reached, it would make SHIB more valuable than some of the largest companies.

So while hitting 1 cent is theoretically possible, it probably won’t happen.

How can I buy Shiba Inu on CoinJar?

CoinJar is a crypto exchange that allows you to purchase Shiba Inu (SHIB) tokens using various payment methods such as a credit card or bank account.

To buy SHIB, you first need to create an account on CoinJar and complete the necessary verification steps. UK Investors are required (in accordance with local legislation) to complete an assessment (investors risk understanding quiz) and wait for 24 hours. Once your account is verified, you can deposit funds into your account using your preferred payment method.

After depositing funds, navigate to the Shiba Inu trading page and enter the amount of SHIB you want to purchase.

You can also check the current price of Shiba Inu on this page. Once you've entered the desired amount, click on the "Buy" button to complete your purchase.

You don't need a specific Shiba Inu wallet, you can keep SHIB in your account on CoinJar. If you keep them on the exchange you can buy and sell SHIB conveniently, however you can also move them off the exchange into a cold wallet for protection. Again you don't need a specific SHIB wallet. You can use an online wallet such as MetaMask.

CoinJar also allows you to sell Shiba Inu, trade Shiba Inu for other cryptocurrencies, and convert your Shiba Inu to fiat currencies. You can also withdraw your SHIB tokens to an external wallet.

What is the process to purchase Shiba Inu on a cryptocurrency exchange?

On CoinJar Exchange, (always choose a trusted cryptocurrency exchange like CoinJar) create an account, verify your identity, deposit funds, and search for "buy Shiba Inu" or "SHIB." Select the SHIB trading pair, enter the amount, and confirm your purchase. ID verification, waiting periods, and appropriateness tests apply.

Can I buy SHIB with Bitcoin or other cryptocurrencies?

Yes, on CoinJar Exchange, you can buy SHIB using Bitcoin or other supported cryptocurrencies by selecting the appropriate trading pair, such as SHIB/BTC, and executing a trade. You can also swap Bitcoin for SHIB on CoinJar.

What payment methods are available to buy Shiba Inu?

CoinJar offers multiple payment methods to buy Shiba Inu, including bank transfers, cards, and crypto deposits. Check the platform for supported options in your region.

How do I store Shiba Inu after purchasing?

After buying Shiba Inu, you can store SHIB in your CoinJar wallet or transfer it to a secure external wallet for added control over your assets.

Is CoinJar a safe platform to buy Shiba Inu?

CoinJar is a trusted cryptocurrency exchange with protection measures, ensuring a safe environment for purchasing and trading Shiba Inu (SHIB).

What is the price of Shiba Inu (SHIB)?

The price of Shiba Inu varies based on market conditions. Check CoinJar’s live SHIB price chart at the top of this page for real-time updates before you buy or trade.

Can I buy Shiba Inu elsewhere?

While Binance and Coinbase may offer Shiba Inu, CoinJar provides a UK-based exchange experience to buy SHIB with competitive fees and support.

What are the benefits of buying SHIB on CoinJar?

Buying SHIB on CoinJar offers low trading fees, a user-friendly interface, protected storage, and access to a wide range of cryptocurrencies for diversified trading.

Standard Risk Warning: The above article is not to be read as investment, legal or tax advice and it takes no account of particular personal or market circumstances; all readers should seek independent investment advice before investing in cryptocurrencies. The article is provided for general information and educational purposes only, no responsibility or liability is accepted for any errors of fact or omission expressed therein. Past performance is not a reliable indicator of future results. We use third party banking, safekeeping and payment providers, and the failure of any of these providers could also lead to a loss of your assets. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets. Capital Gains Tax may be payable on profits. CoinJar's digital currency exchange services are operated in the UK by CoinJar UK Limited (company number 8905988), registered by the Financial Conduct Authority as a Cryptoasset Exchange Provider and Custodian Wallet Provider in the United Kingdom under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended (Firm Reference No. 928767). In the UK, it's legal to buy, hold, and trade crypto, however cryptocurrency is not regulated in the UK. It's vital to understand that once your money is in the crypto ecosystem, there are no rules to protect it, unlike with regular investments. You should not expect to be protected if something goes wrong. So, if you make any crypto-related investments, you're unlikely to have recourse to the Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman Service (FOS) if something goes wrong.

The performance of most cryptocurrency can be highly volatile, with their value dropping as quickly as it can rise. Past performance is not an indication of future results. Remember: Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more at: https://www.coinjar.com/uk/risk-summary. UK residents are required to complete an assessment to show they understand the risks associated with what crypto/investment they are about to buy, in accordance with local legislation. Additionally, they must wait for a 24-hour "cooling off" period, before their account is active, due to local regulations. If you use a credit card to buy cryptocurrency, you would be putting borrowed money at a risk of loss. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets.

Specific risks associated with DeFi tokens Decentralised Finance (or 'DeFi') tokens (e.g. UNI, AAVE) are crypto-assets linked to financial applications and protocols built on decentralised blockchain technology. DeFi tokens carry the following risks:Smart contract risk: DeFi relies heavily on smart contracts. Even a minor coding error or oversight can lead to a contract being exploited, potentially resulting in significant losses for DeFi tokens. Regulatory risk: DeFi operates in a decentralised manner, often without intermediaries or financial crime controls. Regulatory bodies across jurisdictions might introduce new regulations impacting the use, value, or legality of certain DeFi protocols or assets. Rug-pulls / Exit scams: Some DeFi projects might be launched by anonymous or pseudonymous teams, increasing the risk of "rug pulls" where developers abandon the project and withdraw funds, leaving investors with worthless tokens. Data/oracle risk: DeFi protocols often rely on external data sources or 'oracles. Manipulation or inaccuracies in these data sources can lead to unintended financial outcomes within the protocols. Protocol complexity: The complexity of some DeFi protocols can make it difficult for average users to fully understand the mechanisms and associated risks.

Specific risks associated with meme coins: 'Meme coins' (e.g. DOGE, SHIB, PEPE) are crypto-assets whose value is driven primarily by community interest and online trends. Meme coins carry the following risks: • Volatility risk: Meme coins can have extreme price volatility, often experiencing rapid and unpredictable price fluctuations within short periods. The value of meme coins can be influenced by social media trends, celebrity endorsements, and other factors unrelated to traditional investment fundamentals. • Lack of utility: Meme coins often lack intrinsic value or utility, being primarily driven by community interest, online trends, and speculative trading. • Market manipulation: Meme coins may be susceptible to increased risk of market manipulation including 'pump-and-dump' schemes, where the price is artificially inflated followed by a sudden crash. • Lack of transparency: Meme coins may have limited available information about their development teams, goals, and financials. This lack of transparency can make it challenging to assess the credibility and potential of a meme coin accurately. • Emotional investing: Meme coins often garner strong emotional reactions from investors, leading to impulsive decisions. Emotional trading activity can amplify losses.

Specific risks associated with stablecoins: There is a risk that any particular stablecoin may not hold their value as against any fiat currency; or may not hold their value as against any other asset. Stablecoins carry the following risks: · Depegging events: Depegging events may occur with stablecoins that fail to maintain adequate controls and risk mitigants. A depegging event is when the value of the stablecoin no longer matches the value of the underlying asset. This could result in a loss of some or all of your investment. • Counterparty risk: Counterparty risk arises when an asset is backed by collateral, involving a third party maintaining the collateral, which introduces risk if the party becomes insolvent or fails to maintain it. • Redemption risk: Redemption risk refers to the possibility that an asset's ability to be redeemed for underlying collateral may not be as anticipated during market fluctuations or operational issues. • Collateral risk: Collateral risk refers to the possibility of the collateral's value declining or becoming volatile, potentially impacting the asset's stability, particularly when it is another crypto-asset. • Exchange rate fluctuations: Stablecoins, often denominated in US Dollars, expose investors to fluctuations in the USD:GBP exchange rate. • Algorithmic risk: Algorithm risk refers to the possibility of an asset's stability being compromised due to unexpected failure or behaviour of the underlying algorithm, potentially leading to loss of value.

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Cryptoassets traded on CoinJar UK Limited are largely unregulated in the UK, and you are unable to access the Financial Service Compensation Scheme or the Financial Ombudsman Service.

We use third party banking, safekeeping and payment providers, and the failure of any of these providers could also lead to a loss of your assets. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets. Capital Gains Tax may be payable on profits.

CoinJar’s digital currency exchange services are operated in the UK by CoinJar UK Limited (company number 8905988), registered by the Financial Conduct Authority as a Cryptoasset Exchange Provider and Custodian Wallet Provider in the United Kingdom under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended (Firm Reference No. 928767).

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