Crypto Investing
1 Feb 2022

How to Buy Shiba Inu: Complete Beginners’ Guide

Devansh Sinhal

Shiba Inu has been one of the only cryptocurrencies in the world to have returned more than 49,000,000% to its investors in a matter of months! Shiba Inu, a part of the dog-themed cryptocurrency ecosystem, is often known as a “meme coin”, which means that it has no real functionality compared to established coins like Bitcoin and Ethereum. Currently, Shiba Inu is worth $0.000022 per token, with a market cap of approximately $12 billion.

In this blog, we will explore how you can buy Shiba Inu tokens on CoinSwitch, India’s biggest cryptocurrency platform with more than 14 million users!

Key Takeaways

  • CoinSwitch Kuber is one of the best apps you can use to invest in Shiba Inu tokens
  • The platform allows you to buy and sell Shiba Inu (SHIB) directly through INR
  • CoinSwitch Kuber is designed for simplicity, allowing you to keep your investing experience pleasurable and hassle-free!

Steps Involved in Buying Shiba Inu in India

Step 1: Open CoinSwitch

The first step is to, of course, download the CoinSwitch Kuber app on your Android or iOS mobile phone. Alternatively, you could also visit our website and enter your phone number and we’ll SMS you a link to the app!

Step 2: Register and Open an Account

Once you have completed the first step, you need to create an account on the app. Here are the steps that you will need to follow:

  • Once the app has been successfully installed, you will be asked to enter your mobile number for OTP verification. Afterward, you will be asked to set a PIN on the app for added security. We encourage you to use random numbers that are hard to guess, to secure access to the app.
  • You’re in! After successfully setting your PIN up, you will be directed to the home page.

For any queries, please feel free to contact our Support Team here.

Step 3: Complete the KYC

It takes only a moment for the app to register you and verify everything, and once it’s done, you will be notified that your verification is complete. Voila! You’re ready to start trading/investing in Shiba Inu (SHIB).

Step 4: Add Bank Details

To transfer funds from your bank account to your wallet in the CoinSwitch app, you need to provide the app with the relevant details. These include your account number and the branch IFSC code only. The app sends Rs. 1 to your account to verify that the details are correct, and if they are, the account is then linked to your profile.

Note: We encourage you to perform all transactions related to your CoinSwitch account with your registered bank account only to avoid unnecessary mix-ups. At this juncture, you’re free to explore the app and get a hang of the features. However, if you want to start investing right away, you’re going to need to complete the KYC (Know Your Customer) process. This is a step that has been mandated by the Government of India and is required to verify your identity with your bank and our servers. To complete this step, head to the ‘Profile’ section of the app, in the bottom right corner, and click on “User Verification”.

  • Enter your name, PAN details, date of birth, and your email address for basic verification of your identity. Once this is done, you will be asked to take and upload a picture of your PAN card, along with a picture of a government-issued ID card to complete the verification.

For more details on how to register for CoinSwitch and the entire KYC process, check out our YouTube guide.

Step 5: Complete verification

In case you want to change your bank account, go to the “Bank Details” section under “Profile” and click “Edit”.

CoinSwitch Kuber is one of the only crypto exchanges in the country that seamlessly allows you to transfer funds to your wallet in the app by Net Banking or UPI. For Net Banking:

  • Transfer money to the given bank account details on the app through your preferred mode of transfer. The funds will reflect in your wallet as soon as we receive them. The process may take up to 48 hours. Note: Please ONLY use your registered bank account to transfer funds through Net Banking. If you use an unregistered bank account, it may take us up to 7 days to refund your money.

For UPI:

  • Enter the amount you want to transfer and your preferred UPI ID
  • CoinSwitch will send you a request on your UPI app
  • Once the transaction has gone through successfully, the funds will be reflected in your wallet within 10 minutes

If you’re stuck during any part of the process, our Support Team will be very glad to help you out. Contact them here.

Step 6: Buying Shiba Inu

You’re all set! To buy Shiba Inu (SHIB) or any other cryptocurrencies, click on the “Market” option at the bottom of your screen and search for the coin you want to buy. Once you’ve found SHIB, click on the coin and find the “Buy” button at the bottom of the screen.

Enter the amount you want to purchase and make sure you have adequate funds added to your wallet. Once you’re all set, click confirm to buy SHIB. Voila!

You can see your crypto assets under the “Portfolio” section on the app itself, along with other helpful information like the total amount invested, percentage of gains/losses, all the coins you hold, and even their individual profits/gains.

Convert Shiba Inu to INR directly here!

How to Buy Shiba Inu: A Step-by-Step Guide

Frequently Asked Questions

Is Shiba Inu legal in India?

Yes, there is no legislation in India that prevents investors from buying or selling Shiba Inu.

Where can I buy Shiba Inu in India?

You can buy Shiba Inu at the best rates in India on CoinSwitch Kuber – the crypto platform trusted by over 14 million active users!

How do I buy Shiba Inu with INR?

To buy Shiba Inu with INR, transfer the requisite funds from your bank account to your CoinSwitch wallet and buy directly on our exchange!

How to sell Shiba Inu in India?

To sell Shiba Inu in India, transfer your crypto holdings to CoinSwitch Kuber and sell it directly on our exchange in INR!

Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.

writer

Devansh Sinhal

Content Writer

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