How to buy, sell and trade Shiba Inu Coin? Detailed tutorial

To buy SHIB, create an account on a reputable exchange, fund it, and place a buy order specifying the desired amount and order type.

Oct 07, 2024 at 08:18 pm

Step 1: Choose a Cryptocurrency Exchange

Select a reputable cryptocurrency exchange that supports Shiba Inu Coin (SHIB). Popular options include Binance, Coinbase, Huobi, and Crypto.com.

Step 2: Create an Account and Fund It

Sign up for an account on the chosen exchange and provide necessary personal and financial information for verification. Fund your account using supported fiat currencies (e.g., USD, EUR) or other cryptocurrencies.

Step 3: Buy SHIB

Once your account is funded, you can place a buy order for SHIB. Specify the amount of SHIB you wish to purchase and the desired order type (e.g., market or limit).

Step 4: Hold or Transfer SHIB

After the purchase is complete, your SHIB will be stored in the exchange's wallet. You can hold it there or transfer it to a hardware wallet for enhanced security.

Step 5: Sell SHIB

When you want to sell SHIB, place a sell order on the exchange. Specify the amount of SHIB you wish to sell and the desired order type.

Step 6: Withdraw Funds

Once you sell your SHIB, you can withdraw the proceeds to your bank account or external cryptocurrency wallet. Follow the exchange's instructions for withdrawing funds.

Step 7: Trade SHIB with Other Cryptocurrencies (Optional)

Some exchanges allow you to trade SHIB with other cryptocurrencies, such as Bitcoin (BTC) or Ethereum (ETH). This can be useful if you want to diversify your portfolio or take advantage of market fluctuations.

Step 8: Use a Decentralized Exchange (Optional)

Alternatively, you can trade SHIB on decentralized exchanges like Uniswap or SushiSwap. These exchanges do not require account creation or verification and offer a wider selection of SHIB trading pairs. However, they may have higher fees and lower liquidity.