How To Buy Shiba Inu Crypto With PayPal: Pros Or Cons Step By Step Guide

How To buy Shiba Inu Crypto With PayPal, first, you need to select a cryptocurrency exchange that supports this payment method, such as Coinbase or BitPay.

What Is Shiba Inu Crypto?

Once upon a time, there was a very special dog. That dog was a Shiba Inu, and this dog inspired millions of people around the world to invest money into tokens with the dog’s image on it. According to the SHIBA INU website, SHIB is the “DOGECOIN KILLER” and is listed on their own ShibaSwap, a DEX. Shiba Inu coin was created anonymously in August 2020 under the pseudonym “Ryoshi.” Ryoshi says about himself that he is a nobody and not important and that the efforts to unmask his identity, even if successful, would be underwhelming.

This meme coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and tweets from personalities like Elon Musk and Vitalik Buterin. Vitalik Buterin was long believed to be the originator of Shiba Inu, but denied such rumors on the Lex Fridman podcast on June 5, 2021.

Shiba Inu aims to be the Ethereum-based counterpart to Dogecoin’s Srypt-based mining algorithm. Shiba Inu and the SHIB token are part of a swarm of dog-themed cryptocurrencies, including Baby Dogecoin (BabyDoge), Dogecoin (DOGE), JINDO INU (JIND), Alaska Inu (LAS) and Alaskan Malamute Token (LASM). These lesser-valued tokens have attracted investors who missed the Dogecoin pump from 0.0002 to nearly 0.75 USD.

Shiba’s success sparked an avalanche of copycats, such as BitShiba, Shiba Fantom, Shibalana, King Shiba, SHIBAVAX, Captain Shibarrow, SHIBA2K22, SpookyShiba and countless others. In total, there may be well over 100 Shiba Inu copies, and the number keeps rising constantly. On Sept. 17, 2021, Coinbase, the largest U.S.-based crypto exchange, listed Shiba Inu on their platform. This news caused Shiba Inu price to rise by over 40% in the following two days, bringing the meme dog token into the spotlight again.

Why Use PayPal To Buy Shiba Inu Crypto?

Why someone might use PayPal to buy Shiba Inu crypto.

1. Accessibility: PayPal is a widely used online payment platform that allows users to securely buy and sell goods and services with ease. It also offers a user-friendly interface, making it easy for people to navigate and use the platform.
2. Convenience: PayPal enables users to make purchases using a variety of payment methods, including bank transfers, credit/debit cards, and PayPal balances. This can be more convenient than setting up accounts on multiple crypto exchanges.
3. Security: PayPal is a secure platform that utilizes encryption technology to protect users’ financial information. This can help ensure that transactions are safe and secure.
4. Speed: Buying Shiba Inu crypto through PayPal can be faster than using traditional methods, such as bank transfers or wire transfers, which can take several days to clear.
5. Reputation: PayPal is a reputable company that has been in business for many years. Its name recognition and brand reputation may help people feel more confident about using the platform to buy Shiba Inu crypto.

However, it’s important to note that investing in cryptocurrency carries a high level of risk and should be approached with caution. It’s always important to do your own research and consult with a financial professional before making any investment decisions.

Best Platform To Buy Shiba Inu Crypto With PayPal

Pepperstone

At Pepperstone, they know what it’s like to trade. With the scale of a global fintech and the agility of a start-up, we’re here to arm you with everything you need to take on the global markets with confidence. Pepperstone was founded in 2010 in Melbourne, Australia by a team of experienced traders with a shared commitment to improve the world of online trading. Frustrated by delayed executions, expensive prices and poor customer support, they set out to provide traders around the world with superior technology, low-cost spreads and a genuine commitment to helping them master the trade.

They process an average of US$12.55bn of trades every day, making us one of the world’s largest forex brokers. We’re trusted by over 300,000 traders around the world^. As well as being regulated by ASIC, SCB, CMA, CySEC, FCA, BaFin and DFSA, we segregate our client funds with tier 1 banks and offer many fee-free funding methods. We’ve won multiple prestigious awards from Investment Trends, Deloitte and Compare Forex Brokers and we’re proud to be recognised for consistently exceptional customer service, excellent trading conditions and value for money.

Coinmama

We’re Coinmama, a financial service that makes it fast, safe and fun to buy digital currency, anywhere in the world. They believe that the future of money is one where we, the people, are in control of the own economy. A future where there’s no place for middle-men, hidden fees and fine print.

To deliver on that promise, we have come to work every day since 2013 to create the simplest financial service out there – spoken in a language you can understand, and backed by customer service you can count on. Everything that’s good is built on strong values. They call these the Coinmama DNA. Drawing on decades of experience across industries, leadership drives Coinmama’s strategic vision.

Eightcap

Eightcap is a regulated online trading platform that allows users to trade a range of financial instruments, including cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Eightcap offers competitive spreads on its cryptocurrency trading pairs, meaning users can potentially save money on trading fees. They provides a range of advanced trading tools, such as charting software and technical indicators, to help users make informed trading decisions.

Eightcap offers fast trade execution, meaning users can potentially take advantage of market movements more quickly. Eightcap is regulated by the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the UK, providing users with an added layer of security and protection.

Coinbase

They are building the cryptoeconomy – a more fair, accessible, efficient, and transparent financial system enabled by crypto. They started in 2012 with the radical idea that anyone, anywhere, should be able to easily and securely send and receive Bitcoin. Today, we offer a trusted and easy-to-use platform for accessing the broader cryptoeconomy.

Coinbase powers the cryptoeconomy. Customers around the world discover and begin their journeys with crypto through Coinbase. Approximately 110 million verified users and 245,000 ecosystem partners in over 100 countries trust Coinbase to easily and securely invest, spend, save, earn, and use crypto.

Here are the quick steps to buy Shiba Inu Crypto With PayPal

1. Create a PayPal account or log in to your existing account.
2. Ensure that your PayPal account is linked to a payment method, such as a credit/debit card or bank account, that has sufficient funds to cover the purchase.
3. Choose a cryptocurrency exchange that accepts PayPal as a payment method. Some popular options include eToro, Coinbase, and LocalBitcoins.
4. Sign up for an account with the chosen cryptocurrency exchange and complete the necessary verification process, such as providing identification documents and setting up two-factor authentication.
5. Navigate to the “Buy” or “Trade” section of the exchange’s platform and select Shiba Inu as the cryptocurrency to purchase.
6. Choose PayPal as the payment method and enter the amount of Shiba Inu you wish to buy.
7. Review the transaction details, including fees and exchange rates, and confirm the purchase.
8. The Shiba Inu tokens should then be deposited into your exchange wallet, where you can choose to hold or transfer them to another wallet.

It’s important to note that buying cryptocurrencies through PayPal may come with additional fees and may not be available in all regions. Additionally, investing in cryptocurrencies carries a high level of risk and should be approached with caution. It’s always important to do your own research and consult with a financial professional before making any investment decisions.

Does Paypal charge fees When Buy Shiba Inu Crypto?

PayPal charges fees for buying and selling cryptocurrencies, including Shiba Inu (SHIB). The fees depend on the transaction size and payment method used. Here are the fees that PayPal currently charges for cryptocurrency transactions:

• For purchases and sales of cryptocurrency on PayPal, the fee is 2.3% of the transaction amount for transactions under $100. For transactions over $100, the fee is 2.3% plus a fixed fee based on the transaction amount. The fixed fees are as follows:
  • For transactions between $100.01 and $200: $2
  • For transactions between $200.01 and $1,000: $2.50
  • For transactions between $1,000.01 and $5,000: $3.50
  • For transactions over $5,000: 0.5% of the transaction amount
• When buying cryptocurrency with a credit or debit card, PayPal charges an additional fee of 2.9% plus a fixed fee based on the transaction amount. The fixed fees are as follows:
  • For transactions under $100: $0.49
  • For transactions between $100.01 and $200: $0.99
  • For transactions over $200: $1.99

Please note that these fees are subject to change and may vary based on your location and other factors. It’s important to review the current fees on PayPal’s website before making any cryptocurrency transactions.

What countries support PayPal?

PayPal is a widely available platform, and it supports a large number of countries around the world. However, the availability of PayPal services can vary by country, and certain features may not be available in all countries.

Here is a list of some of the countries where PayPal is supported:

1. United States
2. Canada
3. Europe: including countries like the United Kingdom, Germany, France, Italy, Spain, and many others.
4. Australia
5. New Zealand
6. Japan
7. Singapore
8. Hong Kong
9. United Arab Emirates
10. Brazil

This is not an exhaustive list, and PayPal may be supported in other countries as well. If you’re not sure whether PayPal is supported in your country, you can check the PayPal website for more information.

Why We Choose Buy Shiba Inu Crypto With PayPal Any Reason

Instantaneous transactions:

If you have a verified PayPal account and sufficient funds, buying Shiba Inu with PayPal can be almost instantaneous. This can be useful if you want to take advantage of a price dip or jump on an opportunity quickly.

Security

PayPal is known for its security measures, which can help protect your financial information when buying cryptocurrency. By using PayPal to buy Shiba Inu, you don’t have to provide your banking or credit card information to the cryptocurrency exchange, which can help keep your sensitive data safe.

Convenience

Many people already have a PayPal account and use it for online transactions. If you’re already comfortable with PayPal, using it to buy Shiba Inu can be a simple and familiar option.

Accessibility

PayPal is available in many countries, which can make it easier for people around the world to buy Shiba Inu. Some cryptocurrency exchanges may not accept certain payment methods or may not be available in certain countries, so using PayPal can expand your options.

Fees

PayPal charges fees for transactions, and some cryptocurrency exchanges may also charge fees for buying and selling Shiba Inu. It’s important to understand the fees involved in using PayPal to buy Shiba Inu and to factor those into your decision.

Pros Or Cons Of Buying Shiba Inu Crypto With PayPal

There are several pros and cons to buying Shiba Inu (SHIB) cryptocurrency with PayPal, which are worth considering before making a purchase. Here are some of the key advantages and disadvantages:

Pros:

1. Convenience: PayPal is a widely accepted payment method, and many people already have a PayPal account. Buying SHIB with PayPal can be a convenient option, as it allows you to use a familiar platform to purchase cryptocurrency.
2. Speed: PayPal transactions are generally processed quickly, which means that you can buy SHIB and have it added to your wallet relatively quickly.
3. Security: PayPal has built-in security features, including fraud protection and purchase protection, which can help to protect you against unauthorized purchases and other security risks.

Cons:

1. Fees: As mentioned earlier, PayPal charges fees for buying and selling cryptocurrencies, which can make it an expensive option. Depending on the transaction size and payment method used, fees can add up quickly.
2. Limited Availability: PayPal’s cryptocurrency service is not available in all countries. You’ll need to check whether the service is available in your location before you can buy SHIB with PayPal.
3. Limited Control: When you buy SHIB with PayPal, you don’t actually own the cryptocurrency itself. Instead, PayPal holds the cryptocurrency on your behalf, and you have limited control over it. If you want to move your SHIB to a different wallet or exchange, you may need to go through additional steps to transfer it out of your PayPal account.

Overall, buying SHIB with PayPal can be a convenient and quick option, but it’s important to be aware of the fees and limitations of the service. It may be worth considering other payment methods or exchanges if you’re looking for more control over your cryptocurrency holdings.

FAQ Buying Shiba Inu Crypto With PayPal