We’ve prepared a short and simple guide on how to buy SHIBA INU in Canada on Changelly.
Note! Your SHIBA INU will be in your wallet between a few minutes and a few hours. We do our best to deliver your SHIB to you as quickly as possible, but there sometimes can be delays due to one of the following factors:
- Overloaded blockchain
- SHIBA INU updates
- DDoS attack
That’s it – your SHIB should be in your wallet shortly!
Reasons to Buy Shiba Inu in Canada
The Shina Inu coin (SHIB) is an ERC-20 token that powers the Shiba ecosystem. It’s a meme coin inspired by the same funny meme behind Dogecoin. It set out to kill Dogecoin, founded in 2020 about seven years later. What are some reasons to buy the Shiba Inu coin?
- Rising popularity: Shiba Inu coin experienced a tremendous run in 2021, one year after its launch, which saw its price rising by more than 1,000 percentage points. The surge stemmed from its rising popularity and more people talking about it on social media, such as Elon Musk.
- Store of value & payments: Buying Shiba Inu may be done for fundamental reasons such as using it to facilitate digital transactions and store value.
- Status as ERC-20 token: ERC-20 tokens run on Ethereum, the most popular blockchain for DeFi apps. So, SHIB can be easily swapped on DEXs and used in DeFi lending protocols.
Buyers should remember the golden rules of investing in crypto-assets as they figure out how to buy Shiba Inu coins in Canada. Don’t spend more than you’re prepared to lose. The value of the Shiba Inu coin is inherently unstable and may even purge to zero. It’s still impossible to accurately predict rises in the Shiba Inu coin price. Prices could rise or fall at any time. Now, let's look at some Shiba Inu faqs:
Where can I buy Shiba Inu in Canada?
Looking for the best recommendations on where to buy Shiba Inu coins in Canada? Buyers have a choice of the following platforms and sources:
- OTC crypto exchanges: It is relatively easy to purchase Shiba Inu by finding an international crypto exchange that accepts Canadian customers. Residents can also work with a Canadian crypto exchange.
- P2P platforms: The platforms bring together individual crypto traders and customers. Individual sellers will list their offers, and the buyer can choose the best offer to buy the Shiba Inu coin.
- Fiat-to-crypto vendors: Also known as on-ramp companies, the platforms facilitate seamless and fast purchases of crypto assets using fiat currencies. Consequently, off-ramp solutions can allow holders to sell Shiba Inu Coin. Changelly works with some of the biggest on-ramp and off-ramp solutions for fast and secure transactions.
Work with a secure and trusted platform with a history of successful transactions and positive customer ratings.
Is the Shiba Inu coin available in Canada?
Yes. Canadian residents can purchase Shiba Inu with no restrictions whatsoever. Shiba Inu can be used for digital payments, even though it’s not regarded as a legal tender. The Canadian government has been largely progressive regarding cryptocurrencies and was among the first in 2014 to introduce legislation governing crypto assets.
What is the cheapest way to buy SHIB?
The best way to find the lowest trading fees simply entails shopping around and getting quotes from different platforms. That’s because buying SHIB may attract various fees. For instance, a crypto exchange may charge a spotting fee. It may be variable or flat rate.
ERC-20 token transactions are also subject to gas fees paid to the network for confirming the transaction. Purchases with fiat currencies may be subject to conversion fees. Processing various payment methods may attract additional fees, such as credit card processing fees that range from 1.55% to 3.5%.
Swapping SHIB for other tokens comes with fees too, including platform fees (inclusive of market maker fees + commissions).
Buying on Changelly? No problem! Spot the best rate from our fiat-to-crypto partners by entering the purchase amount.
Сan I sell my Shiba Inu in Canada?
It's entirely possible to sell Shiba Inu coins in Canada in various ways. The first way to sell is on major crypto exchanges that provide a “Sell crypto to fiat currency” feature.
Secondly, sellers can sell the tokens on a P2P platform to individual buyers.
To sell Shiba Inu on Changelly, check for support on our sell page. Note that sellers can first exchange Shiba for another cryptocurrency on Changelly before selling it on the platform. Payments may be made to a bank account.
Can I buy Shiba Inu with CAD?
It’s possible to buy Shiba INU SHIB with CAD on Changelly. Our partners will automatically handle any conversion to other base currencies at favorable rates. But to save on any slight conversion losses, buyers are advised to use U.S. dollar bank cards or accounts.
What are the taxes to buy SHIB in Canada?
Beginner investors should be aware of the tax implications resulting from the purchase and disposal of crypto assets. Holders may be required to pay capital gains tax to the CRA on any profit made from cryptocurrency transactions. It is also paramount to maintain accurate records for verification.
Can I trade Shiba Inu in Canada?
Trading Shiba Inu Is legal in Canada, but the profits generated are subject to Capital Gains income tax.
The income derived from trading the meme coin falls under business income for day traders. Just check if you qualify for the CRA’s criteria for day traders.
Trading in crypto markets will not be difficult. Start by signing up for a cryptocurrency trading exchange such as Changelly Pro, which offers low trading fees. Add assets to the trading account and make the first order. Become better by continuously refining trading strategies.
Can I buy Shiba Inu with PayPal?
Canadian residents may purchase Shiba Inu from a platform that accepts PayPal payments. Changelly and its on-ramp partners don't currently accept PayPal as a payment Gateway. We will notify platform users when support is added.
Continue making purchases conveniently using credit cards, bank transfers, and Apple Pay.
Can I buy Shiba Inu with a credit card?
On Changelly, buyers can use a credit or debit card to buy Shiba Inu coins. Our fiat-to-crypto partners accept all the leading bank cards.
Can I get SHIB for free?
There are different ways to get SHIB for free and store them in a software wallet. One way is to use Get-Paid-To sites such as Timebucks, Free cash, and Cointiply. Keep track of any giveaways meant to incentivize trading into the coin.