This article will teach you how to buy Baby Shiba Inu Coin on the Ethereum Blockchain. Shiba Inus are the most adorable dogs in existence, and they are also highly valued pets. You’ve purchased a new Shiba Inu; now what? This article will explain how to get your new pet onto the blockchain to be financially secure and have access to any amenities they need.
What is Baby Shiba Inu Coin?
Baby Shiba Inu Coin is a relatively new cryptocurrency that recently gained popularity. It is a spinoff of the original Shiba Inu Coin and is designed to be more affordable for those who still need to invest in the original coin. As with any investment, it is important to research and understands the risks before investing in Baby Shiba Inu Coin.
How do you invest in this coin? You can buy Shiba Inu Coin (and similar coins) via a cryptocurrency exchange. If you need access to an exchange, this guide will show you how to make a simulated investment.
This simulation will not truly represent what your investment would be worth if it were real. Still, it will allow you to experience the buying process and get familiar with Baby Shiba Inu Coin.
Step By Step Guide To Buy Baby Shiba Inu Coin
Choose cryptocurrency exchange:
There are several exchanges where you can buy Baby Shiba Inu Coin, including:
- Binance – Binance is a popular exchange that supports a variety of cryptocurrencies, including the Baby Shiba Inu Coin. To buy Baby Shiba Inu Coin on Binance, you must create an account, verify your identity, and deposit funds.
- BitMart – BitMart is another exchange that supports Baby Shiba Inu Coin. To buy on BitMart, you must create an account, verify your identity, and deposit funds.
- Hotbit – Hotbit is a smaller exchange supporting Baby Shiba Inu Coin. To buy on Hotbit, you must create an account and deposit funds.
Download a TrustWallet:
While you will eventually store your Baby Shiba Inu Coin in an exchange wallet, we recommend holding them in a local wallet for security. The TrustWallet app for Android provides a simple and secure way to store and manage your Baby Shiba Inu Coin offline.
TrustWallet is a mobile app that stores your cryptocurrency offline and has multiple security features. You can even write checks to store funds, meaning Baby Shiba Inu Coin will be safely stored away from your main account.
Setting Up a Wallet:
Once you’ve verified your account, visit our trust wallet setup guide. Once you’ve verified your account, and downloaded TrustWallet, select the “Send” option on the main menu to deposit funds into your local wallet. Select the “Bitcoin” option to make a bitcoin deposit. (Do not use any other kind of cryptocurrency.) We recommend choosing an amount that is too large to be withdrawn immediately but small enough so that it is less likely to be cut by a transaction fee.
Buy BNB Chain as Your Base Currency:
Once you have deposited funds, you can purchase Baby Shiba Inu Coin. Select the “+” button to search “ShibaInuCoin.” This will reveal some details about Binance’s Baby Shiba Inu Coin market. Scroll down to these details (or click here), and you will see the “Buy BNB” option on the right-hand side of the screen. Select the amount of Baby Shiba Inu Coin you want to buy here. Next, click “Buy BNB.
Send BNB Chain From Binance to Your Crypto Wallet:
After you have purchased Baby Shiba Inu Coin, you must send the funds from Binance to your TrustWallet. You can do this by selecting the “Balances” option on the main menu of TrustWallet, which will display all of your wallets. Select the one that reads “BNB.” Click “Select assets,” then select your Baby Shiba Inu Coin in the drop-down menu. The “+” sign at the bottom should remain selected instead of displaying a Binance logo.
Choose a Decentralized Exchange (DEX):
After you complete the purchase process, you will have a Baby Shiba Inu Coin in your TrustWallet. However, holding on to the exchange is unsafe because your funds can be stolen. For this reason, we recommend transferring Baby Shiba Inu Coin to a decentralized exchange (DEX). A DEX is a cryptocurrency exchange that doesn’t rely on a third party to hold customer funds, thus offering better security.
Connect Your Wallet:
To transfer your Baby Shiba Inu Coin to a DEX, you must first connect your wallet to this exchange by selecting the “Connect” option on the main menu of TrustWallet. This will take you to a new screen where you can choose which exchange you would like to connect with. Select “Ether Delta,” and then select “Connect.”
Find Your Ethereum Address:
Once you’re connected, an Ether Delta wallet address will appear that is associated with your TrustWallet. You can copy this address and send your Baby Shiba Inu Coin to this address.
Send Baby Shiba Inu Coin to Your Decentralized Exchange (DEX) Account. Next, you must send your Baby Shiba Inu Coin to the DEX. Return to the “Connected Wallet” screen and select the “Watch Only” button. Scroll down and copy your Ethereum address, and then select the “Send Funds” option in your DEX account.
Trade Your BNB Chain With the Coin You Want to Get:
Now that you have sent your Baby Shiba Inu Coin to your DEX account, you must trade them for the desired coin. On each platform, there are different ways to trade. For example, on Binance, you can use the search function to find and list a desired coin.
On Bittrex, you can find the following option under “Trading”: “Markets: Select Market -> Binary Options.” This allows users to look at available tokens and set a buy or sell order in an exchange-like manner.
Purchasing Baby Shiba Inu Coin:
Once you have set up your wallet, you can purchase Baby Shiba Inu Coin. The exact process will vary depending on the exchange you are using, but generally, you’ll need to follow these steps:
- Deposit funds – Deposit funds into your exchange account using a credit card, bank transfer, or cryptocurrency.
- Buy Baby Shiba Inu Coin – Navigate to the Baby Shiba Inu Coin trading pair once your funds have been deposited and place a buy order.
- Withdraw coins – Once you have purchased your Baby Shiba Inu Coins, withdraw them from the exchange and transfer them to your wallet.
Conclusion
Congratulations! You now have a Baby Shiba Inu Coin, safely stored on an exchange that you can trade freely. If you ever want to send your Baby Shiba Inu Coin from the exchange to your wallet, follow the steps to the “Connected Wallet” screen in TrustWallet. Additionally, if you want to store them in a more secure wallet, go back to step 1 and choose another decentralized exchange.
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