Shiba Inu Brokers & Exchanges

Shiba Inu trading is relatively new in the cryptocurrency world, with the coin only being created in mid-2020. However, the Ethereum-based crypto has surged rapidly in recent months, spurred on by Dogecoin’s popularity. Sharing the same lofty ambitions, Shiba Inu has recently been added to Coinbase Pro’s trading platforms. This article will explain what Shiba Inu trading is and discuss its pros and cons alongside outlining where you can buy and trade the token.

Shiba Inu Brokers & Exchanges

#1 - Eightcap

Why We Chose Eightcap

Eightcap’s crypto offering is best-in-class with 250+ crypto derivatives, surpassing that of almost every alternative. Testing also reveals Bitcoin spreads of 12 pips, coming in lower than most competitors, while it offers real-time trading ideas through the Crypto Crusher market scanner. Add in convenient deposits and withdrawals in digital currencies, and Eightcap offers the complete package for serious crypto traders.

"Eightcap delivers in every area for day traders with a growing selection of charting platforms and AI-powered tools. Now sporting 250+ crypto CFDs and the Crypto Crusher market scanner, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row."

- DayTrading Review Team
  • Coins: BTC, ETH, LTC, BCH, XRP, XMR, DSH, EOS, XLM, ADA, TRX, DOGE, BNB, DOT, MATIC, VET, AXS, NEO, SOL, UNI, AAVE, KSM, THETA, CAKE, SUSHI, ATOM, XTZ, SNX, COMP, FLOW, EGLD, PUNDIX, RAY, ZIL, QTUM, BAND, OMG, FIDA, BADGER, NEAR and many more
  • Crypto Mining: No
  • Auto Market Maker: No
  • Crypto Spread: $12 (BTC)
  • Crypto Lending: No
  • Crypto Staking: No
  • Platforms: MT4, MT5, TradingView
  • Minimum Deposit: $100
  • Regulator: ASIC, FCA, xCySEC, SCB

Pros

  • Eightcap stands out with a selection of powerful trading tools, including MT4 and MT5, the innovative algorithmic trading platform Capitalise.ai, and more recently the 50-million strong social trading network TradingView.
  • After bolstering its roster in 2021, Eightcap offers one of the most extensive selections of cryptocurrency CFDs in the market, with crypto/fiat pairs, crypto/crypto pairs, plus crypto indices for broader exposure to the market.
  • Having excelled across all key areas for day traders, Eightcap outperformed more than 490 competitors to win our 'Best Overall Broker' award for 2024, also securing our 'Best Crypto Broker' title.

Cons

  • In spite of an increasing variety of tools, Eightcap doesn't offer industry favorites like Autochartist or Trading Central, which offer cutting-edge charting analytics, live news, and market insights for short-term traders.
  • Eightcap needs to continue bolstering its suite of instruments to match category leaders like Blackbull Markets with its 26,000+ assets, featuring a particularly weak selection of commodities.
  • The demo account expires after 30 days and can only be extended upon request - a notable inconvenience compared to the likes of XM with its unlimited demo mode.

#2 - Skilling

Why We Chose Skilling

You can trade 50+ crypto pairs via leveraged CFDs. The list of tokens is longer than many rivals, including Vantage with only 30+, and you can get started easily with just $100.

"Skilling maintains its position as a top pick for beginners looking for a competitive zero commission account with direct access to a copy trading feature. It will also serve experienced strategy providers looking to earn commissions, or anyone looking to trade forex during extended hours."

- DayTrading Review Team
  • Coins: ACM, APE, AVE, ATM, AVA, AXS, BTC, BAR, BNB, BTC, BSV, XBN, ADA, CHZ, ATOM, CRO, DASH, MANA, DOGE, EOS, ETH, ENJ, XET, ETC, FTM, ONE, HT, IOTA, JUVE, LTC, LNK, XLC, XMR, NEO, OMG, PSG, CAKE, DOT, MATIC, QTUM and many more
  • Crypto Mining: No
  • Auto Market Maker: Yes
  • Crypto Spread: BTC 0.5
  • Crypto Lending: No
  • Crypto Staking: No
  • Platforms: Skilling Trader, MT4, cTrader, TradingView
  • Regulator: CySEC

About Skilling

Skilling is a multi-asset broker founded in 2016 and based in Cyprus. The brand offers hundreds of day trading instruments with competitive spreads from 0.1 pips and beginner-friendly platforms. Skilling are also regulated in Europe and beyond with a transparent pricing structure. You can sign up and start trading in three easy steps.

Pros

  • The €100 deposit and zero commissions in the Standard account are accessible for beginners
  • Excellent third-party charting platforms are available for serious day traders, with dozens of technical indicators and advanced order types
  • The broker has a solid global reputation and is regulated by top-tier authorities including the CySEC

Cons

  • Skilling trails alternatives like IG when it comes to research tools that can help day traders make informed decisions
  • You can only access shares in the Skilling Trader platform and fewer instruments are available overall in the MT4 accounts

#3 - CMTrading

Why We Chose CMTrading

Trade 23 of the most popular cryptocurrency assets, including BTC, ETH and SOL, in CFD pairs with USD and spreads from 0.02. Traders will not own the underlying tokens with these derivatives.

"CMTrading is a great choice for traders based in South Africa looking to access highly leveraged forex and CFDs, plus copy trading tools and short-term signals."

- DayTrading Review Team
  • Coins: BTC, LTC, ETH, XRP, LINK, XLM, XMR, XDG, SOL, BCH, ADA, DOT, UNI, SHIB, VET, TRX, XEM, THT, BNB, MATIC, MANA
  • Crypto Mining: No
  • Auto Market Maker: No
  • Crypto Spread: From 0.02
  • Crypto Lending: No
  • Crypto Staking: No
  • Platforms: CMTrading Webtrader, MT4
  • Minimum Deposit: $100
  • Regulator: FSCA, FSA

About CMTrading

CMTrading is one of South Africa's leading online day trading brokers, offering trades with leverage up to 1:1000 on the MetaTrader 4 and browser-based Sirix platforms as well as a bespoke copy trading service. The brokerage launched in 2012 and holds a license with South Africa’s Financial Sector Conduct Authority (FSCA).

Pros

  • The broker supports the powerful MetaTrader 4 platform plus a proprietary Webtrader and a bespoke social trading feature
  • There's a decent array of educational resources for beginners on the online academy
  • Clients can access free short-term forex signals from the broker's platform

Cons

  • The broker's market coverage is limited, including only 100+ stocks
  • There are no additional third-party analysis tools such as AutoChartist
  • Spreads are uncompetitive across accounts compared to competitors

#4 - BitMEX

Why We Chose BitMEX

BitMEX continues to offer a highly competitive crypto trading environment, with cheap $1 contracts and leverage up to 1:100. The broker’s proprietary platform offers cutting-edge trading features, including a customizable order book, a depth chart and dozens of technical indicators.

"Active traders who want access to a good range of crypto derivatives will be intrigued by BitMEX's offering, with Perpetual Contracts available. The 100x leverage on Bitcoin is also higher than many alternatives."

- DayTrading Review Team
  • Coins: BCH, BTC, ETH, LTC, XRP, TRON, EOS, XMR, ADA, DOGE, BNB, DOT, SOL, SHIB, AVAX, GAL, NEAR, SUSHI, AXS
  • Crypto Mining: No
  • Auto Market Maker: Yes
  • Crypto Spread: -0.01% maker, 0.075% taker
  • Crypto Lending: No
  • Crypto Staking: Yes
  • Platforms: BitMEX Web Platform, AlgoTrader, TradingView
  • Minimum Deposit: $0.01
  • Regulator: Republic of Seychelles

About BitMEX

BitMEX is a crypto exchange and derivatives trading platform, launched in 2014. The firm offers a fiat–crypto onramp, spot trading, and crypto derivatives including perpetual contracts, traditional futures and quanto futures. BitMEX offers amongst the largest market liquidity of any cryptocurrency exchange.

Pros

  • Comprehensive customizability is available within the platform, with movable widgets and order book filters
  • Traders have the opportunity to connect with investors using the intuitive inbuilt chat feature
  • BitMEX continues to deliver a considerable amount of market information for free, as well as trading guides and community channels on Discord, Telegram and more

Cons

  • The broker was involved in a legal dispute with US regulators which resulted in fines
  • Withdrawals are only carried out at a specified time of day
  • BitMEX is an offshore firm and is not regulated by any reputable authority, though this is common among crypto brokers

#5 - OKX

Why We Chose OKX

OKX continues to offer a superb selection of 400+ tokens including Bitcoin and Ripple. You can buy and sell tokens or trade cryptos on margin via derivatives, including perpetual swaps, options and futures. OKX stands out for its low fees, extensive range of tokens and speedy crypto transactions.

"OKX is a top pick for crypto traders looking for emerging coins and crypto projects to invest in. Traders can also make use of the broker's copy trading service and automated bots."

- DayTrading Review Team
  • Coins: BTC, XCH, ETH, OKB, OKT, LTC, DOT, ADA, DOGE, XRP, USDT, ICP, BCH, LINK, XLM, ETC, MATIC, THETA, UNI, TRX, EOS, FIL, XMR, NEO, USDC, AAVE, SHIB, LUNA, KSM, BSC, ATOM, IOTA, ALGO, XTZ, CRO, MKR, BTT, CEL, LEO, WBTC and many more
  • Crypto Mining: Yes
  • Auto Market Maker: No
  • Crypto Spread: Variable
  • Crypto Lending: Yes
  • Crypto Staking: No
  • Platforms: AlgoTrader
  • Minimum Deposit: 10 USDT
  • Regulator: VARA

About OKX

OKX is a respected cryptocurrency firm, established in 2017, that offers a large suite of products, from mining pools to NFTs. Traders can access over 400 crypto tokens via OTC trading and derivatives. With an excellent web platform, developer tools and dynamic charts, OKX is a popular choice for technical traders.

Pros

  • Active traders can expect competitive maker and taker fees, from 0.02% and 0.05%, respectively
  • There's an impressive range of blockchain products, including DeFi services, NFTs and games, alongside 400+ established and emerging coins
  • OKX maintains an excellent reputation with 20 million global clients and a license from the Dubai Virtual Assets Regulatory Authority

Cons

  • The firm offers limited regulatory oversight, though this is common among crypto brokers
  • The broker's platform and features may be complex for novices
  • The quality of customer support was inconsistent based on testing

What Is Shiba Inu?

Shiba Inu (SHIB) is an ERC-20 token, which means that it runs on the Ethereum blockchain and uses the network’s smart-contract technology. The advantage of running on Ethereum is that it is a secure, well-established blockchain that allows SHIB to remain decentralized and independent of moderating forces.

The Shiba Inu token plans to become a new DeFi ecosystem with its platform, ‘ShibaSwap’. This decentralized exchange will feature three native tokens, Shiba Inu (SHIB), Leash (LEASH) and Bone (BONE). There are also plans for the exchange to integrate non-fungible tokens (NFTs) into the platform, with the website encouraging artists to begin a Shiba Inu dog-inspired artistic movement.

Shiba Inu TradingView Ideas

The History Of Shiba Inu

Shiba Inu has a brief but interesting trading history. Created by an anonymous person/group going by the name Ryoshi, Shiba Inu was launched in August 2020. Ryoshi started with a supply of 1 quadrillion crypto-tokens, of which they gave 50% to Ethereum founder Vitalik Buterin. The other 50% were put onto the decentralized exchange UniSwap, at a starting price of around $0.000000000056.

Buterin intriguingly then donated 50 trillion Shiba Inu tokens, worth an estimated $1 billion, to the India Covid Crypto Relief Fund. He then proceeded to burn the rest of the coins, bringing delight to traders who had bought the token on various trading platforms and apps as the value soared.

Since then, Shiba Inu has stabilised somewhat, though it still demonstrates solid growth. The creators also released two more tokens on the ‘ShibaSwap’ platform, Bone and Leash. Holders can stake Shiba Inu tokens to ‘dig’ for either of these new tokens.

Shiba Inu Chart

Benefits Of Trading Shiba Inu

Various price forecasts from crypto news sites and prediction portals, such as Trading Beasts, point in a positive direction for Shiba Inu (SHIB). As a result, trading Shiba Inu is arguably an attractive option for both new and experienced traders, so let us investigate the benefits of trading the emerging crypto.

Drawbacks Of Trading Shiba Inu

As with any cryptocurrency, solely looking at the benefits of Shiba Inu trading is a dangerous path to go down. The risks and drawbacks must also be analysed to present the whole picture and ensure you can make informed investment decisions.

Where Can I Trade Shiba Inu?

You may be wondering what exchanges or brokers you can use for Shiba Inu trading, if any. After all, it is such a young token that you might not expect many exchanges to support it.

In reality, many of the most popular crypto exchanges already support Shiba Inu trading. Centralized exchanges such as Binance, Coinbase, OKEx and Gate.io, all allow users to buy and sell Shiba Inu coins. SHIB is also available on the decentralized exchange UniSwap, which is powered by Ethereum’s blockchain, making it a great place for trading Shiba Inu coins.Shiba Inu Trading App In India

If you are interested in trading Shiba Inu tokens, but cannot decide which exchange to use, compare the various trading fees associated with each exchange.

How To Buy Shiba Inu Tokens

Choose An Exchange

Decide whether you want to buy through a centralized exchange (CEX) or decentralised exchange (DEX).

DEXs, like UniSwap, requires users to obtain a software wallet like MetaMask or CoinBase Wallet to begin reading on the platform. These wallets are free to use and let you truly own your crypto. You will also have to purchase Ethereum tokens, which can then be used to buy SHIB.

Open An Account

The first step towards buying SHIB is to open an account with an exchange that supports its purchase, like one of those mentioned above. Setting up an account is simple, just provide an email address and create a password. After that, you may be required to verify your identity with information like your birthday and driver’s license.

Obtain A Wallet

Whether you chose a DEX or CEX, you will want a safe place to store any tokens you obtain while Shiba Inu trading. There are several types of wallets available:

Purchase Shiba Inu Coin

Now that you are set up with an exchange and have a wallet to store your tokens, you are ready to start Shiba Inu trading. Log in, check the current prices and trends and then place your order when you are ready.

Tips For Shiba Inu Trading

As with most forms of short-term trading, you should check market data and the latest trends. The coin is still young and volatile, so you should regularly check charts and graphs for ideas. Websites similar to TradingView are ideal for understanding what coins like SHIB are trading for right now.

Another tip is to not just follow the price in US dollars (USD). Keep track of trading pairs such as Shiba Inu against Bitcoin, Litecoin or Ether. Tracking and trading SHIB against other coins could increase the potential profit you make due to a further increase in volatility.

If you want to make Shiba Inu trading even easier, look at investing in trading signals or even a live bot. Signals analyse the data for you and tell you what to buy and when, while bots take this a step further and make the purchases for you too. However, it is important to note that these systems can still make mistakes and caution should always be taken.

You should also stay up-to-date on the latest Shiba Inu trading news. Big announcements can cause the value of coins like SHIB to vary greatly. Even something as simple as a mention on Twitter from Elon Musk can send the price soaring, so try to stay in the loop when you are trading.shiba inu trading when starting price crypto

Final Word On Shiba Inu Trading

Trading Shiba Inu has the potential to be lucrative as its youth brings with it lots of volatility. The range of supported exchanges and connection to other Ethereum DeFi projects make it particularly popular, though prospective investors looking at Shiba Inu trading should be wary of the potential for the popularity of meme tokens to drop. Head to our list of brokers and exchanges that support Shiba Inu trading to get started.

FAQs

Will Shiba Inu Be Traded On Coinbase?

Yes, Shiba Inu trading is supported on Coinbase. Since June 17th, 2021, it has also been available on Coinbase Pro. Remember it’s worth taking the time to understand what the data around volume and volatility means before buying or selling the coin .The Coinbase platforms also show what the crypto token is trading at today.

Will Shiba Inu Trade On Robinhood?

While there are no concrete plans in place, it has been rumoured that the Shiba Inu trading will be supported on Robinhood soon. However, no dates have been released by either party.

Will SHIB Reach $1?

There is no way of knowing for sure. Some prediction portals say it will, while others think it will not even get close to $0.1. As with any crypto, the future value is very hard to predict, and you just must wait to see how far it goes.

Is Shiba Inu Coin A Safe Investment?

Shiba Inu trading, as with any form of cryptocurrency speculation, is inherently unsafe and unpredictable. While you can try to limit your risk by carrying out proper research and implementing robust risk management strategies, it will never be fully ‘safe’.

Can Shiba Inu Make Me A Millionaire?

SHIB has already made some early investors into millionaires, so the potential is definitely there. If you want to join their ranks, you would have to trade smart, understand price forecasts and take care when weighing up the risks. With that said, there is the possibility that you could do all these things and still lose all your money as nothing is certain when Shiba Inu trading.