How To buy SHIBA INU coin in India
You must have seen news like :
“Shiba Inu token holder turns $17 into $5.9 million”
Vitalik Buterin donates $1 billion in Shiba Inu coin (SHIB) to India’s COVID fight
Are you wondering what SHIBA INU is about and how to buy SHIBA INU?
What is SHIBA INU Coin:
SHIBA INU (SHIB) is an experiment in decentralized community building and another meme coin similar to Dogecoin (DOGE). The coin appears to have been created to give Dogecoin some competition.
“SHIB is the native token of SHIBA INU and will be the first token to be listed and used as an incentive for using ShibaSwap, a decentralized exchange” Its website claims.
It claims that everyone has to buy Shiba Inu coins in the open market, which ensures a fair and complete distribution where the team and admin are all volunteers and don’t own team tokens they can dump on the community.
Shiba Inu token was trading for USD 0.00001879, with current CoinMarketCap ranking as #25, and a current market cap of USD 7,454,470,772.
Market Cap = Current Price x Circulating Supply.
Official Page : https://shibatoken.com/
The top exchanges for trading in SHIBA INU are currently Binance, WazirX, Gate.io, Huobi.
How to buy SHIBA INU in India?
SHIB is currently listed in WazirX, popular for crypto investments in India, similar to how Zerodha is popular for stock investments.
You can start investing in cryptocurrencies easily using Indian Rupees with WazirX. Even though Bitcoin is currently priced at INR 41,00,000, you can buy 0.0001 Bitcoin for Rs. 410 in WazirX.
Click here to start a free WazirX account
Please follow the below step-by-step process if you are new to WazirX
Step1: Sign Up on WazirX
Click here to start a free WazirX account
Provide your email address and create a strong password to start creating your WazirX account.
Step2: Do email verification and account security setup
WazirX sends you an email for account verification to your email address, just click on the verification link.
Next, set up your account security. WazirX offers two options for your account security. You can choose either of the options.
- Google Authenticator App
2) Mobile SMS service
Step3: Complete KYC
For KYC verification you need to provide following information
- Full name as per KYC document
- Date of birth
- Address as per the KYC document
Then upload the scanned copy of your KYC documents and selfie. The account usually gets verified within max 24–48 hours from WazirX.
How to Buy SHIBA INU on WazirX in India
You can buy SHIBA INU (SHIB) using your WazirX Account using Indian Rupees deposited in your WazirX account.
if you don’t have a WazirX account click here to start a free WazirX account
Step1: Deposite INR in WazirX
You can deposit a minimum of Rs. 100 in your WazirX account. There is no upper limit to the money deposit.
WazirX wallet allows INR deposits via IMPS, UPI, RTGS and NEFT.
For depositing INR in your wallet go to “Funds”and select “Rupee INR” and click on deposit.
Note: If your bank account or UPI is not linked, you can link it here, this is a one-time activity. Once you have linked, you can deposit and withdraw smoothly next time.
Step2: Buy SHIB in WazirX
For buying SHIB login to your account and click on “INR” under section “Exchange” tab. This is the market for all the cryptocurrencies you can buy with INR.
Search for SHIB, you will be able to see : “SHIB/INR”.
Once you click on “SHIB/INR”, you can see SHIB/INR price charts, order entry form on the right-hand side as shown below.
Fill in the buy order form and click on “BUY SHIB”. The order gets placed and you will receive SHIBA INU as soon as the order gets traded. The order may take a few minutes to get executed depending on the sellers.
Once your order is complete, go to “Funds” you will be able to see the bought SHIB coins.
Disclaimer
This article is for informational purposes only. It should not be considered as an investment advice, how you invest your money is a matter of individual choice. Put emotions aside and invest only that you can afford to lose. Each of us has our threshold and risk levels. Do your research.
- Never invest more than you can afford to lose.
- Never put all your eggs in one basket
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