How to buy Shiba Inu (SHIB) on Kraken

Shiba Inu (SHIB) is a popular meme-inspired ERC-20 token that has grown into a major DeFi player, available for secure trading on Kraken with multiple fiat and crypto funding options.

Aug 08, 2025 at 09:00 pm

Understanding Shiba Inu (SHIB) and Its Role in the Crypto Market

Shiba Inu (SHIB) is a decentralized cryptocurrency that emerged in 2020 as an ERC-20 token on the Ethereum blockchain. It was created as a community-driven meme coin, inspired by Dogecoin, and quickly gained popularity due to its low price and high supply—over one quadrillion tokens. Despite its origins as a joke, SHIB has evolved into a significant player in the decentralized finance (DeFi) ecosystem. The project includes a broader ecosystem with ShibaSwap, a decentralized exchange, and other tokens like LEASH and BONE. Investors are often attracted to SHIB due to its potential for high volatility and speculative gains. The token is listed on multiple exchanges, with Kraken being one of the most trusted and regulated platforms for purchasing SHIB.

Why Choose Kraken to Buy SHIB

Kraken is a U.S.-based cryptocurrency exchange known for its strong security protocols, regulatory compliance, and user-friendly interface. One of the primary reasons to use Kraken for buying SHIB is its reputation for reliability and transparency. The platform supports a wide range of fiat currencies, including USD, EUR, and GBP, making it accessible to users globally. Kraken also offers multiple deposit methods such as bank transfers, wire transfers, credit/debit cards, and various digital wallets. Additionally, Kraken provides advanced trading features like limit orders, stop-loss, and margin trading, which are beneficial for both beginners and experienced traders. The integration of SHIB into Kraken’s trading pairs allows users to trade SHIB against USD, EUR, USDT, BTC, and ETH, giving flexibility in portfolio management.

Setting Up a Kraken Account

To begin purchasing SHIB on Kraken, you must first create an account. Visit the official Kraken website and click on the "Sign Up" button. You will be prompted to enter your email address, create a strong password, and agree to the terms of service. After submitting this information, verify your email by clicking the link sent to your inbox. The next step is identity verification, which is mandatory due to anti-money laundering (AML) regulations. Upload a government-issued ID such as a passport or driver’s license. Depending on your country, Kraken may also require proof of address, such as a utility bill or bank statement. Verification levels determine your trading limits—higher verification levels allow greater deposit and withdrawal capacities. This process may take several hours to a few days, depending on the volume of submissions.

Funding Your Kraken Account

Once your account is verified, you can proceed to fund it. Navigate to the "Funding" section in your Kraken dashboard. Select your preferred currency, such as USD or EUR. Kraken offers several funding options:

• Bank Transfer (SEPA or SWIFT): This method is ideal for large deposits and typically has lower fees. Initiate a transfer from your bank to Kraken’s designated account. Processing times vary—SEPA transfers within Europe usually take 1–2 business days.
• Wire Transfer: Suitable for international users, wire transfers are secure but may incur higher fees. Ensure you include the correct reference code to avoid delays.
• Credit/Debit Card: Instant deposits are possible using Visa or Mastercard. A fee of around 3.75% applies, but funds are available immediately.
• Cryptocurrency Deposit: If you already own crypto, transfer assets like BTC or ETH to your Kraken wallet address. Confirmations depend on blockchain network congestion.

After the deposit is confirmed, the balance will appear in your Kraken account, ready for trading.

Purchasing SHIB on Kraken

With funds in your account, you can now buy SHIB. Follow these steps:

• Go to the "Trade" tab and search for SHIB in the market pair section.
• Select the trading pair you want, such as SHIB/USD or SHIB/USDT.
• Choose the order type: Market Order (buys immediately at current price) or Limit Order (sets a specific price to buy).
• Enter the amount of SHIB you wish to purchase or specify the fiat/crypto amount you want to spend.
• Review the transaction details, including fees and total cost.
• Click "Buy SHIB" to execute the order.

If you placed a limit order, the trade will only execute when the market reaches your specified price. Once completed, the SHIB tokens will appear in your Kraken wallet under the "Balances" section.

Storing and Managing Your SHIB

While Kraken provides secure custodial storage, it is advisable to transfer your SHIB to a private wallet for enhanced security. Consider using a hardware wallet like Ledger or Trezor, or a software wallet such as MetaMask that supports ERC-20 tokens. To withdraw SHIB:

• Navigate to "Withdraw" in the funding section.
• Select Shiba Inu (SHIB) from the dropdown menu.
• Paste your external wallet address. Double-check the address for accuracy.
• Enter the amount to withdraw.
• Confirm the transaction using two-factor authentication (2FA).
• Wait for blockchain confirmation, which may take a few minutes depending on Ethereum network congestion.

Always enable 2FA on your Kraken account and avoid sharing your recovery phrases or private keys.

Frequently Asked Questions

Can I buy SHIB directly with USD on Kraken?

Yes, Kraken allows direct purchase of SHIB using USD. After funding your account with USD via bank transfer, card, or other methods, you can trade USD for SHIB instantly using the SHIB/USD trading pair.

Is there a minimum amount of SHIB I can buy on Kraken?

Kraken does not enforce a strict minimum for SHIB purchases. However, market orders must meet the exchange’s minimum trade size, which is typically around $5–$10 worth of SHIB, depending on current prices and trading pair constraints.

Why is my SHIB withdrawal taking so long?

SHIB operates on the Ethereum network, so withdrawal speed depends on Ethereum’s network congestion and gas fees. During peak times, transactions may take longer. You can check the status using a blockchain explorer by entering the transaction ID provided by Kraken.

Does Kraken support staking or earning rewards with SHIB?

As of now, Kraken does not offer staking options specifically for SHIB. However, Kraken provides staking services for other supported cryptocurrencies like ETH, ADA, and DOT. For SHIB rewards, users may explore decentralized platforms like ShibaSwap, though this involves separate wallet setup and risks.