The Shiba Inu Coin is one of the most popular cryptocurrencies in the market. Since the digital currency is expected to generate gains of almost 40 million percent in 2021 alone, many people have been wondering how to buy Shiba Inu in the UK.
At its peak, you would have been a multi-millionaire if you had invested just £10 at the start of the year. If you’re looking to join the Shiba Inu bandwagon, this article will show you how to buy Shiba Inu in the UK in less than five minutes with an FCA-regulated broker.
How to Buy Shiba Coin – A Beginners Guide
The following guide is for you if you have heard about Shiba Inu but are unsure how to get started.Follow our detailed step-by-step walkthrough to find out how to buy Shiba Inu in the UK from FCA-regulated broker eToro, just as you would if you bought Bitcoin in the UK. It shouldn’t take you more than five minutes to complete the process.
Create An Account
You will need to register with a regulated broker like eToro in order to buy Shiba Inu in the UK. By doing this, eToro ensures that it knows who you are and compliant with FCA regulations. Thank goodness, the process is simple and requires only the following information from you:
- Date of Birth
- Mobile Number
- National Insurance Number
Your first step in the registration process is to confirm your mobile number by entering an SMS confirmation code sent by eToro.
The vast majority of brokers in this industry are not heavily regulated, but eToro is. In addition to the FCA, licensing bodies in the US, Cyprus, and Australia are involved.
Therefore, you must upload a copy of your passport or driver’s license before purchasing Shiba Inu UK. Once again, eToro makes the process fast and simple by verifying your documents instantly.
Now that your account is verified, you can deposit some money. eToro covers all bases in this regard, as a variety of deposit methods are available. This includes:
- Debit Cards
- Credit Cards
- UK Bank Transfer
US dollars are the currency of eToro, which mirrors the global cryptocurrency markets. You will be charged a small FX fee of 0.5% when depositing funds in GBP.Comparatively to Coinbase, which charges a 3.99% deposit fee, this is a great deal. eToro requires a minimum deposit of just $50, which is around $35. eToro’setoro money app is also one of the best crypto wallets out there.
Find Shiba Inu Coin
Next, go to the eToro platform and find your chosen market – Shiba Inu. Searching for the ‘Shiba Inu’ coin is the fastest method. Select the ‘Trade’ button. An order form will then be generated, which you must fill out in order to buy Shiba Inu in the UK.
Buy Shiba Inu UK
You are now placing a market order at eToro by default. It means that you will be able to purchase immediately at the next best price offered by eToro.
There is a risk to your capital. Cryptoassets are highly volatile, unregulated investments. There is no investor protection in the UK or Europe. Additionally, 68% of retail investor accounts with this provider lose money when trading CFDs. If you want to risk losing your money, you should consider whether you can afford it.
You now have to decide how much money you want to invest in the Shiba Inu coin. eToro’s minimum investment is a very risk-averse $10. You can choose how much you wish to invest in the’ Amount’ box in the’ Amount’ box. Last but not least, you can confirm your Shiba Inu purchase via eToro by clicking on ‘Open Trade.’