How to Buy Shiba Inu in India: A Complete Beginner’s Guide

Shiba Inu (SHIB), a popular meme cryptocurrency, has captured the attention of many investors in India. With its low price and strong community backing, it has become an attractive investment option for those looking to enter the crypto space. If you're wondering how to buy Shiba Inu in India, this guide will walk you through the entire process, making it simple and easy to understand.

Why Invest in Shiba Inu (SHIB)?

Before jumping into how to purchase SHIB tokens, it's important to understand why this cryptocurrency has gained so much popularity:

1. Affordable Investment: Shiba Inu's low price per token makes it accessible for small investors to get started without a significant upfront investment.

2. Strong Community Support: The SHIB community, also known as the “Shiba Army,” plays a crucial role in promoting and driving the coin’s adoption.

3. Potential for Growth: Despite being a meme coin, SHIB has evolved with real-world use cases, including the ShibaSwap decentralized exchange and the upcoming Shibarium blockchain.

4. Listed on Major Exchanges: SHIB is widely available on popular crypto exchanges, making it easy to buy and sell in India.

Now that you know why investing in Shiba Inu can be an interesting opportunity, let's dive into the steps to buy it in India.

Step-by-Step Guide to Buying Shiba Inu in India

Step 1: Choose a Cryptocurrency Exchange

To buy Shiba Inu, you'll need to create an account on a cryptocurrency exchange that supports SHIB trading. Some of the most popular and trusted exchanges in India include:

WazirX – Offers easy INR deposits and withdrawals.

CoinDCX – Known for its user-friendly interface and low fees.

ZebPay – One of the oldest crypto exchanges in India.

Binance – A global exchange that supports INR deposits via peer-to-peer (P2P) trading.

Unocoin – Popular among Indian investors for its simple buying options.

When selecting an exchange, consider factors such as trading fees, security features, customer support, and available payment options.

Step 2: Register and Complete KYC Verification

Once you've selected an exchange, follow these steps to set up your account:

1. Sign Up: Go to the exchange’s website or app and register using your email ID and phone number.

2. KYC Process: Indian exchanges require identity verification as part of regulatory compliance. You'll need to provide:

PAN card
Aadhaar card
A recent selfie for verification

3. Enable Two-Factor Authentication (2FA): This adds an extra layer of security to your account and is highly recommended.

Once your KYC is approved, you can move to the next step.

Step 3: Deposit Funds to Your Account

To buy SHIB, you'll need to deposit Indian Rupees (INR) into your exchange account. Most exchanges offer multiple payment options, including:

UPI (Google Pay, PhonePe, Paytm) – Instant and free transfers.

Bank Transfers (NEFT/IMPS/RTGS) – Suitable for larger deposits.

Debit/Credit Cards – Available on select exchanges but may include processing fees.

After depositing funds, you will see the available balance in your exchange wallet.

Step 4: Search for Shiba Inu (SHIB) and Place an Order

Once your funds are available, follow these steps to buy SHIB:

1. Search for SHIB: Go to the trading section and search for "SHIB." You will find trading pairs like:

SHIB/INR – Direct purchase with Indian Rupees.

SHIB/USDT – Buying with the stablecoin USDT for better liquidity.

2. Select Order Type:

Market Order: Buy instantly at the current market price.

Limit Order: Set a desired price and buy when it reaches that level.

3. Confirm Purchase: Enter the amount of SHIB you want to buy and confirm your transaction. Your SHIB tokens will be credited to your exchange wallet.

Step 5: Secure Your Investment

Once you've purchased SHIB tokens, it's important to store them securely. Here are your options:

1. Exchange Wallets: Convenient but less secure, suitable for short-term holdings.

2. Private Wallets: For long-term storage, consider transferring your SHIB to a private wallet such as:

Hardware Wallets: Devices like Ledger or Trezor offer high-level security.

Software Wallets: MetaMask or Trust Wallet are good options for mobile and desktop use.

Storing your crypto in a private wallet reduces the risk of losing funds due to exchange hacks or cyber threats.

Important Things to Consider Before Buying SHIB

Before investing in Shiba Inu or any cryptocurrency, keep these points in mind:

1. Volatility: SHIB is highly volatile, and prices can change rapidly. Invest only what you can afford to lose.

2. Regulatory Uncertainty: Indian crypto regulations are evolving, so stay informed about government guidelines.

3. Tax Implications: Profits from crypto trading are subject to a 30% tax in India, with a 1% TDS on transactions above a certain limit.

4. Diversification: Avoid putting all your money into a single cryptocurrency. Diversify your portfolio to minimize.

FAQs About Buying Shiba Inu in India

1. Is it legal to buy Shiba Inu in India?

Yes, it's legal to buy and hold cryptocurrencies in India, but they are not yet considered legal tender. Regulations are continuously evolving.

2. What is the minimum amount required to buy SHIB?

You can start with as little as ₹100, depending on the exchange's minimum purchase requirement.

3. How do I sell my Shiba Inu tokens?

Selling SHIB is similar to buying; you can place a sell order on the exchange and withdraw the INR to your bank account.

4. Are there any transaction fees?

Yes, exchanges charge a small trading fee, usually between 0.1% to 0.5%, depending on the platform.

Conclusion

Buying Shiba Inu in India is straightforward and accessible with the right exchange and a bit of knowledge. By following the steps outlined above, you can safely invest in SHIB and manage your holdings wisely. However, always remember to do your own research and invest responsibly.

If you're ready to get started, choose a trusted exchange, complete your KYC, and take your first step into the world of Shiba Inu today!

By following this guide, you'll be well-prepared to navigate the Indian crypto market and make informed investment decisions.

How to Buy Shiba Inu in India: A Complete Beginner’s Guide