How and Where To Buy Shiba Inu Coin in Canada (2021)

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by Enoch Omololu

Updated

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Looking to buy the Shiba Inu coin in Canada as it shoots up in price? Below, I cover how and where to buy SHIB fast.

Shiba Inu (SHIB) is one of the most popular cryptocurrencies in the world right now, after rallying over 300% in recent times.

While meme coins like SHIB have very minimal use cases to boast of, crypto traders continue to pile into them, making prices shoot up (to the moon as the saying goes).

Read on to learn about how to buy Shiba Inu on Binance, Coinbase, NDAX, Crypto.com, and others.

What is Shiba Inu?

Shiba Inu (SHIB) is an ERC-20 token built using the Ethereum blockchain.

Often referred to as a “Dogecoin killer”, Shiba Inu was established in 2020 by someone pseudonymously named Ryoshi.

Shiba Inu is part of a wider ecosystem that includes LEASH and BONE tokens.

In 2021, 50% of the available Shiba Inu coins were gifted to Ethereum founder, Vitalik Buterin, who burned a majority of it and donated the rest (worth $1 billion) to charity.

Like Dogecoin, Shiba Inu falls in the ‘memecoin’ category alongside other dog-themed tokens like Akita Inu (AKITA), Kishu Inu (KISHU), LEASH, and more.

How To Buy Shiba Inu (SHIB) in Canada

In order to buy Shiba Inu in Canada, you need to open an account at a cryptocurrency platform that offers the token.

Alternatively, if your current crypto exchange does not offer SHIB, you could purchase stablecoins on it (like Tether) and swap them for SHIB on another platform that supports it.

Many of the SHIB platforms listed below offer SHIB-crypto trading pairs, or you could also buy directly using fiat.

After buying Shiba Inu, you can store it in your exchange wallet or an external wallet that accepts SHIB.

Where to Buy Shiba Inu Coin in Canada

The top places to buy Shiba Inu are noted below.

1. Buy Shiba Inu on NDAX

NDAX is a popular cryptocurrency exchange with one of the lowest trading fees in Canada.

It supports 18 coins including Tether (USDT) and Shiba Inu.

  • Coins offered: USDT, BTC, ETH, UNI, FTM, Shiba Inu, USDC, and more.
  • Funding options: Interac e-Transfer, wire transfer, bank draft, and crypto deposits.
  • Trading fee: 0.20%, free fiat deposits; $25 CAD per fiat withdrawal.
  • Offer: Get a $10 bonus when you deposit your first $100.

Learn more in this NDAX review.

2. Buy Shiba Inu on Binance

Binance is the largest cryptocurrency exchange in the world. It supports Shiba Inu and hundreds of other tokens and altcoins.

SHIB pairs on Binance include SHIB/USDT, SHIB/BUSD, SHIB/EUR, SHIB/TRY, SHIB/AUD, and SHIB/BRL.

  • Coins offered: SHIB, BTC, ETH, DOGE, and 300+ coins.
  • Funding options: Credit card, debit card, crypto deposits, and P2P payment options.
  • Trading fee: Varies based on account tier (up to 0.10%).
  • Offer: Get up to a 25% discount on trading commissions.

Binance is one of the cheapest places to buy SHIB. Note that it is not available to residents of Ontario.

3. Buy Shiba Inu on Newton

Newton is a crypto brokerage that offers 44 coins directly to its customers, including Shiba Inu, Tether USDT, and USDC.

  • Coins offerred: SHIB, LUNA, OMG, BTC, ETH, FTM, EOS, DOGE, and more.
  • Funding options: Interac e-Transfer and cryptocurrency.
  • Trading fee: Up to 0.70% price spread; free deposits and withdrawals.
  • Offer: Get a $25 bonus after trading your first $100.

Learn more about Newton in this review.

4. Buy Shiba Inu on Wealthsimple Crypto

Wealthsimple Crypto is a Canadian crypto trading platform offering 30 coins, including Shiba Inu.

  • Coins offerred: SHIB, 1INCH, ADA, FIL, FTM, BAL, BAT, COMP, and more.
  • Funding options: Electronic Funds Transfer.
  • Trading fee: Up to 1.50% price spread; free deposits and withdrawals.
  • Offer: Get a $50 bonus after purchasing $150 worth of cryptocurrency on the site.

Note that you can’t move crypto coins from Wealthsimple Crypto into your personal hardware wallet. Learn more in this review.

5. Buy Shiba Inu on VirgoCX

VirgoCX is a full-fledged cryptocurrency exchange offering 30+ coins, OTC, and FX services. it was founded in 2018.

  • Coins offerred: SHIB, ENJ, CRV, KNC, PAXG, XLM, and more.
  • Funding options: Interac e-Transfer, wire, and crypto deposits.
  • Trading fee: Up to 0.50% price spread, free deposits, 0.50% withdrawal fees.
  • Visit: Open a VirgoCX account or learn more in this review.

6. Buy Shiba Inu on Crypto.com

Crypto.com is one of the most popular cryptocurrency exchanges in the world with more than 10 million users.

The platform supports SHIB coin trading using credit cards, fiat bank transfers, or cryptocurrency.

In addition to cryptocurrency trading, Crypto.com also offers some of the best crypto credit cards in Canada.

  • Coins offered: 150+ coins including Shiba Inu.
  • Funding options: Credit card, bank transfer, and crypto.
  • Trading fee: Varies with your account level (up to 0.40%).
  • Offer: Get a $25 bonus after staking for a Crypto.com Visa card.

Learn more about Crypto.com in this review.

7. Buy Shiba Inu on Coinbase

Coinbase is an American cryptocurrency exchange that is also available in Canada and several other countries (100+).

It has about 68 million users and offers 60+ cryptocurrencies.

Coinbase is publicly traded on the Nasdaq stock exchange under the ticker “COIN”.

  • Coins offered: 60+ including the Shiba Inu token.
  • Funding options: Debit card, bank wire, and crypto.
  • Trading fee: Up to 0.50% trading fee; up to 3.99% coinbase fee when you deposit or withdraw.
  • Offer: Get a $10 USD bonus after buying $100 USD worth of crypto (or equivalent in CAD).

8. BitMart

BitMart was established in 2017 and has over 5 million users.

It supports 200+ currencies and 400 trading pairs of popular coins and newer altcoins (e.g. Safemoon).

If you are looking to buy Shiba Inu, you can do so on BitMart via the SHIB-USDT pair.

  • Coins offered: 200+
  • Funding options: Credit card, debit card, cryptocurrency deposits.
  • Trading fee: Varies depending on your account level (up to 0.25%); crypto fee withdrawals vary.
  • Visit: Open a BitMart account.
how to buy shiba inu coin in canada

Other Ways To Buy Shiba Inu

Depending on the platform you end up using, it may be easier to buy Shiba Inu (SHIB) in Canada if you already have a stablecoin like USDT or USDC.

Platforms that offer USDT in Canada include NDAX, Newton, and CoinSmart.

9. CoinSmart

The CoinSmart cryptocurrency exchange supports 10 coins including USD Coin (USDC). It operates in Canada and Europe.

  • Funding options: Interac e-Transfer, bank wire, credit card, debit card, and crypto.
  • Trading fee: 0.20-0.30% trading fee; deposit and withdrawals vary.
  • Offer: Get a $20 bonus after depositing first $100.

Learn more in this CoinSmart review.

How To Sell Shiba Inu Coin in Canada

To sell SHIB, visit your crypto exchange account to place a sell trade.

You can withdraw your fiat into your bank account, or in the case of a SHIB-Stablecoin pair, move the USDC or USDT into your hardware wallet.

Is Shiba Inu a Good Investment?

Shiba Inu is a meme coin created to compete with Dogecoin and enable “decentralization”. Like Dogecoin, Shiba Inu currently has limited use cases, however, its ecosystem is a lot more robust.

Shiba Inu’s key details as of November 7, 2021, include:

  • Shiba Inu price: $0.00005733
  • Trading volume: $3 billion
  • Market capitalization: $31 billion
  • Market rank based on Cap: #11
  • Circulating supply: 549 trillion
  • Total supply: 1 quadrillion

Is the Shiba Inu coin a good investment? That remains to be seen.

Memecoin values suffer extreme volatility and you could lose your entire investment if you are unfortunate to buy or sell at the wrong time.

While Shiba Inu has performed well in recent times, past performance is not indicative of future success.

Shiba Inu FAQs

Can I buy Shiba Inu coin in Canada?

Yes, Shiba Inu is available on several crypto exchanges that service Canadian customers including NDAX, Binance, Coinbase, and Crypto.com.

Can I buy Shiba Inu in the U.S?

Yes, U.S. residents can buy the Shiba Inu coin on Coinbase and Crypto.com.

Will Shiba Inu reach 1 cent?

No one knows how Shiba Inu will perform in the future. If it ends up seeing a similar success as Dogecoin, there’s a chance it could reach 1 cent at some point in the future.

Will Shiba Inu reach $1?

It is unlikely that a meme coin like SHIB will reach $1 unless it develops some everyday uses that elevate it from its current ‘memecoin’ status.

Related:

Disclaimer: Cryptocurrency is a volatile and speculative investment. If you decide to invest, we recommend you do your own research and only commit funds you can afford to lose. The author may own one or more of the crypto assets mentioned in this article.

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Author

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. His writing has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, Credit Canada, MSN Money, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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