Shiba Inu has trending for a few weeks. This is a new cryptocurrency commonly known as “the doge killer.” To own the much talked about Shiba Inu tokens, here is an easy step-by-step guide on how to do it:
The first step is to create a Binance account if you don’t have one. When you register or log in, you will be taken to another page where you can buy Shiba Inu tokens. However, to do this, you will need to buy B-USD, which is Binance’s stablecoin or binance USD. You can make a deposit by bank transfer or by credit or debit card.
Once redirected to the payment page, proceed to the selection of the currency you want to use according to your country of residence.
Select the currency you want to deposit in, which is B-USD. There are two pairs of exchanges currently paired for Shiba Inu coins, which are B-USD or USD tether. B-USD is much easier than the USD tether, although you can choose any one based on your preferences. For this article, buying through B-USD will be used as an example.
Click on the B-USD option and then decide how much you want to deposit. After that, the system shows you by default how much B-USD you will get for the deposited amount. Proceed by adding your credit or debit card details. This will not be necessary for old users who have made one or two transactions on the website, as the system automatically saves the details.
Once you are satisfied with everything, you can buy your B-USD without any hassle.
Note: If you already have a Binance account, you can transfer a different cryptocurrency like BNB to B-USD if you want.
Converting B-USD to SHIB tokens
Now, to convert your B-USD into Shiba Inu tokens, you will need to click the “trade” button and then click “classic”. This will up the page and if you’ve never been on an exchange before, well that might be a bit overwhelming, but don’t worry, the point of this article is to walk you through it.
Go to the search bar and type “SHIB”, which is the symbol for Shiba Inu tokens. Two options will appear: SHIB USD-T and SHIB B-USD. USD-T is the USD tether, but we are using the B-USD in this case. Click on B-USD. A “disclaimer” page will load for you to fill out to be sure you know everything you’re getting yourself into, that you are happy about it and Binance is not responsible for any loss in the course of investment.
If you decide to invest in Shiba Inu Tokens after going through the disclaimer, the system will redirect you to another page. The upper left corner shows the current price of the token. At the bottom left you will see all purchases and all sales, the most recent ones and also how many people have bought and at what cost.
Now you can buy SHIB tokens for yourself. Scroll down the page and select between the limit price or the market price. The limit is where you select the price you want to buy at, while the market price is the current market price. Once you click to buy SHIB tokens, you will buy at the exact market price. Select the amount of B-USD to transfer to SHIB tokens. Check the percentage you are buying at and click the “buy SHIB” button. As this is a market order, the order will be executed immediately. The limit order, on the other hand, will remain in the open order until it is executed.
Scroll down the page and click on the order history where you can see the amount of your purchase. The total SHIB coins purchased will be reflected in your wallet after a successful order.