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Do not invest unless you are prepared to lose all the money you invest. Cryptoassets are high-risk investments, and you should not expect to be protected if something goes wrong. Take two minutes to learn more. Additionally, capital gains tax may apply to profits from cryptocurrency sales.
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To buy Shiba Inu Coin (SHIB) in the UK, you’ll need to:
We’ve compiled a list of the best places to buy Shiba Inu Coin in the UK. These are crypto exchanges, wallets, apps and websites where you can buy Shiba Inu Coin, Dogecoin, Bitcoin, Ethereum, Solana, Cardano and other cryptocurrencies in the UK.
Each platform offers its own set of unique features and benefits. Although many of these platforms are highly regarded, it is important to remember that cryptocurrency is unregulated in the UK and can be highly volatile. It is possible to lose all of the money you invest in crypto.
Here are the best places to buy Shiba Inu Coin in the UK:
eToro is a multi-asset trading platform that enables you to trade or invest in cryptocurrencies, NFTs, stocks, ETFs, commodities, forex, and indices. With eToro, you can trade over 70 “real” cryptocurrencies, including popular coins like Bitcoin, Ethereum, XRP, Binance Coin (BNB) and Dogecoin.
Crypto trading on eToro is suitable for both beginners and advanced traders. Beginners can benefit from the educational materials, user-friendly desktop and mobile apps and copy trading tools (which allow you to copy the trades of top-performing crypto traders on the eToro platform). Advanced traders can take advantage of superior charting and analytics tools, social trading features, and real-time crypto market news and insights. You can also benefit from eToro’s risk management tools, such as Stop Loss, Take Profit and Trailing Stop Loss, to better manage your positions, protect your investments and secure your profits. Stop Loss and Take Profit are not guaranteed.
It is entirely free to open an account with eToro, and all registered users receive a US$100,000 demo account for free, which you can use to practise buying crypto and other assets before committing real money. eToro does not charge a deposit fee but charges a 1% trading fee on all crypto positions. Trading on eToro occurs in USD, so a conversion fee will apply if you deposit or withdraw in a currency other than USD. Withdrawals incur a fee of US$5 (£4), and the minimum withdrawal amount is US$30 (£24). For UK customers, eToro offers an eToro Money app that allows you to convert your GBP to USD free of charge, thereby reducing your foreign exchange costs. The app also functions as a crypto wallet for storing your crypto holdings and allows for easy transfer of your cryptocurrency from one exchange or wallet to another.
Please note: Do not invest unless you are 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 two minutes to learn more. Cryptoassets are not regulated by the FCA and are not subject to protection under the FSCS or within the scope of jurisdiction of the Financial Ombudsman Service. Capital gains tax may apply to profits from cryptocurrency sales.
CoinJar is a cryptocurrency app and exchange based in the UK and Australia. With CoinJar, you can trade or invest in 50+ cryptocurrencies, including popular coins such as Bitcoin, Ethereum, XRP, USD Coin, Dogecoin and Shiba Inu Coin. The CoinJar app, which doubles as a crypto wallet, allows you to buy, sell, hold, spend and transfer cryptocurrencies securely on your desktop, iOS or Android device. The CoinJar card lets you make purchases with your crypto, online and in-store, anywhere Mastercard is accepted. It is free to activate the CoinJar card, and there are no monthly fees for using it. When paying with the card, your crypto is automatically converted to fiat currency using CoinJar’s best rates at the time of the transaction. You can choose to have a virtual or physical card or both. The CoinJar card is fully integrated with Google Pay, so Android users can spend crypto instantly and securely with any device.
CoinJar has a unique feature called a Crypto Bundle. A Crypto Bundle is a themed basket of cryptocurrencies, similar to a crypto index fund, crypto ETF or a ready-made stock portfolio. For example, you can buy a CoinJar Universe bundle, which is a portfolio of all the cryptocurrencies available on CoinJar. One investment into such a bundle means you have invested in every cryptocurrency available on CoinJar with just a click of a button. Crypto Bundles can either be proportional, where the weight of each cryptocurrency in a bundle is equal or cap-allocated, where the weights are allocated based on market cap performance.
CoinJar is suitable for both beginners and advanced traders. Beginners can take advantage of the easy-to-use app and ready-made crypto portfolios, while advanced and professional traders can take advantage of CoinJar’s institutional-grade crypto solutions, such as the CoinJar OTC, with razor-thin spreads and globally sourced liquidity. The minimum deposit to open an account with CoinJar is £10. Deposits are made in GBP, so FX fees do not apply. There is a trading fee of 1% on the CoinJar mobile app and website. The CoinJar Exchange (for market orders and aggressive limit orders) charges 0.00% for Taker orders and 0.10% - 0.04% for Maker orders (limit orders).
Please note: Do not invest unless you are 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 two minutes to learn more. Cryptoassets are not regulated by the FCA and are not subject to protection under the FSCS or within the scope of jurisdiction of the Financial Ombudsman Service. Capital gains tax may apply to profits from cryptocurrency sales.
Uphold is a beginner-friendly cryptocurrency exchange that allows you to buy and sell over 250 cryptocurrencies, including majors, altcoins and emerging tokens such as Bitcoin, Ethereum, XRP, Dogecoin, Polkadot, ApeCoin, PancakeSwap and Audius. Users can also buy and sell up to 3 national currencies, including GBP, EUR and USD and enjoy competitive forex rates. Uphold offers a free virtual crypto card that allows you to spend your crypto anywhere a Mastercard is accepted. With the Uphold crypto card, you receive up to 1% cashback on your card transactions paid to you in GBP. The card has no transaction fees when spending locally or internationally and can be easily linked to Apple Pay or Google Pay.
As an Uphold customer, you can earn staking rewards when you put your digital assets to work. Currently, customers can earn up to 13% APY. Please keep in mind that staking rates are variable and may change at Uphold’s discretion. Uphold offers crypto wallets for up to seven cryptocurrencies and crypto networks. Customers can store their crypto in the Uphold Bitcoin Wallet, Ethereum Wallet, XRP Wallet and many more. With Uphold, you can schedule regular transactions using AutoPilot, which allows you to set up recurring buy or sell orders and reduce the impact of price volatility. As an Uphold customer, you can also take advantage of the limit order feature, which allows you to buy or sell a cryptocurrency at a specified price. Customers can place up to 50 limit orders using one pool of capital.
There are multiple fees involved when trading crypto on Uphold. The most important fees to look out for are trading fees, FX fees, and market spreads. In the UK, US and Europe, Uphold charges a market spread ranging from 0.9% to 1.2% on BTC and ETH. Spreads can be significantly higher for low-liquidity cryptos and tokens such as XRP, ZIL, OXT, UPT, DOGE and others. You will be able to see the total cost of your trade before you place the trade. Uphold charges a withdrawal fee of $3.99 for bank transfers and $2.99 for crypto transfers. Visit Uphold to learn more.
Please note: Do not invest unless you are 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 two minutes to learn more. Cryptoassets are not regulated by the FCA and are not subject to protection under the FSCS or within the scope of jurisdiction of the Financial Ombudsman Service. Capital gains tax may apply to profits from cryptocurrency sales.
There are many different ways to fund your crypto exchange of choice. Once you have set it up, there will be a zero balance until you add funds to the account. You need to have a positive balance on the platform to be able to buy Shiba Inu or other cryptocurrencies.
Some of the most popular ways to add cash to an exchange include using your debit card or via bank transfer. These allow you to transfer existing money from your bank account to cash on the platform, which can then be used to purchase Shiba Inu.
Many platforms will also accept other payment types, such as PayPal or e-money transfer services, such as Neteller and Skrill.
Another common method of funding your exchange account is by transferring existing crypto. This could be from another exchange or an existing wallet, but it is vital to check that the exchange you are transferring to supports the currency you are trying to transfer.
Within the world of crypto, there are many niches and sub-niches of coins, tokens, projects and protocols. Among these, one of the most surprisingly popular subsectors of the crypto economy is the so-called ‘dog coins’.
These are blockchain currencies which have been named after cute dogs, with the Shiba Inu breed becoming the unofficial mascot for dog-themed coins worldwide.
The trend stems from the original memecoin, Dogecoin, which featured a Shiba Inu dog as its logo and mascot. Since then, dozens of similar coins or tokens have been launched, including Dogelon Mars, Baby Dogecoin, Kishu Inu and, of course, Shiba Inu.
Of these dog coins, Shiba Inu is the only one that has even come close to rivalling Dogecoin’s market cap, and right now, it sits at #14 on the list of coins by total value, according to CoinMarketCap. This is behind Dogecoin at #8 but ahead of big-name coins and tokens such as UniSwap, Litecoin, Bitcoin Cash and ChainLink.
Shiba Inu Coin is a decentralised cryptocurrency on the Ethereum blockchain. While it is commonly known as a coin because it does not use its own blockchain, it is actually an Ethereum-based token.
Shiba Inu Coin was created in August 2020 as a satirical project based on Dogecoin. Since its inception, it has been considered a memecoin, but that has not stopped it from experiencing a massive price rise over the years.
At the time of writing in March 2024, the market cap of Shiba Inu Coin is just over £16 billion. That is roughly three-quarters the size of Dogecoin and around 4.2% the value of Ethereum, on whose blockchain it is based.
Shiba Inu trades at a very low price per token, but that is because there are a very large number of them. The total supply of Shiba Inu is one quadrillion. Not a billion, not a trillion, but a quadrillion. That is a lot of puppies.
As with most cryptocurrencies, Shiba Inu works by storing all transactions on a public ledger known as a blockchain. This is decentralised, as there is no trusted third party in the middle of all of these transactions.
In traditional finance, transferring money from one person or company to another means going through a ‘middleman’ such as a bank. With Shiba Inu Coin and other decentralised currencies, the transfer is approved by the consensus of multiple parties (often referred to as nodes) rather than a single entity.
In theory, this means that no one company or group of companies control the flow of money, but rather the community as a whole.
Because Shiba Inu is on the Ethereum blockchain, it follows the same rules. It used an approval process known as Proof of Work but recently transitioned to Proof of Stake. As mentioned above, Shiba Inu has a fixed supply but is massive at one quadrillion tokens.
At its launch, half of the total supply was sent to a wallet owned by Ethereum founder Vitalik Buterin. He has since gifted or ‘burned’ all of these coins.
Shiba Inu can be used for transferring value between individuals, and technically, it can also be used to purchase goods and services. While payment networks facilitate this in the US, in the UK, very few businesses accept Shiba Inu as payment.
Realistically, Shiba Inu isn’t used for much other than speculation at this point. Even the creators of the token acknowledged that it was a meme to rival Dogecoin, with investors buying in on the hope of the price increasing.
Most people who purchase Shiba Inu Coin are looking to make a profit on their purchase. Unlike stocks and shares, Shiba Inu doesn’t pay any dividends, so investors rely on capital gains in order to generate a profit.
Obviously, this is by no means guaranteed, and Shiba Inu and all other cryptocurrencies can be very volatile.
It’s also worth keeping in mind that any capital gains you make from buying and selling Shiba Inu are potentially liable for capital gains tax.
Shiba Inu uses the Ethereum blockchain to lodge all of its transactions. This is a key difference from Dogecoin, which operates its own blockchain to store past transactions.
Because Shiba Inu uses the Ethereum blockchain, it must follow the rules and processes used by Ethereum. This includes a recent major change with Ethereum moving from Proof of Work to Proof of Stake, in a process known as ‘The Merge’.
Shiba Inu is now a mid-cap cryptocurrency, and by the end of 2021, it had achieved 26,000,000% growth, but it has since crashed back down to Earth. Much of its meteoric price rise over recent years has been down to hype and memes. That’s not unusual in the crypto space, but it also means that the value of Shiba Inu isn’t underpinned by any fundamentals.
With this in mind, it is likely that Shiba Inu will remain a very volatile asset for the foreseeable future. For investors with a short-term horizon, Shiba Inu is likely to be an unsafe choice. The risk is lower for investors who have a longer investment timeframe, but this doesn’t guarantee a positive return on investment. You could also lose all you invest, as with all cryptocurrencies.
To buy Shiba Inu in the UK, you’ll need to:
Here are the best places to buy Shiba Inu Coin in the UK:
The current price of one Shiba Inu Coin is £0.00001421. You can find the live price of one Shiba Inu Coin at any point in time on CoinMarketCap.
The total supply of Shiba Inu is one quadrillion. However, roughly half of the total supply was gifted to Vitalik Buterin (the co-founder of Ethereum).
It’s unlikely that Shiba Inu will ever reach 1 cent. Multiplying this by the circulating supply of Shiba Inu would mean a market cap of almost $4 trillion. That’s ten times the size of Bitcoin and nearly double that of the most valuable public company in the world, Apple.
No one person or organisation owns Shiba Inu Coin. Because it is decentralised, it is not controlled or operated by one person but by the entire network in a decentralised manner.
It is possible to generate large capital gains on cryptocurrency, including Shiba Inu. However, the asset class is unregulated and highly volatile, meaning there are significant risks involved with investing in the Shiba Inu Coin.
Yes, you can buy Shiba Inu in the UK from crypto exchanges, such as eToro and CoinJar.
It is impossible to know for sure where the Shiba Inu Coin will be in five years. As a memecoin with very little fundamental value, the potential outcomes are very wide. It could lose all of its value and go to zero, or the hype could pick up, and it could soar higher than ever before. Investors should only put money into Shiba Inu that they can afford to lose.
Here are the best apps to buy Shiba Inu Coin in the UK:
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