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Buying Shiba Inu (SHIB) in Canada is now easier than ever with more trustworthy Canadian specific options, and more international exchanges offering options to Canadian residents.
In this article, we will detail how you can purchase Shiba Inu (SHIB) and other cryptocurrencies from any province in Canada.
Things to Consider Before Buying SHIB in Canada
Before getting started, there are a few things to consider when you plan on buying Shiba Inu (SHIB) in Canada. These are important in helping you both choose the correct time, and the correct service to make your Shiba Inu (SHIB) purchase.
Market Position: This is a huge factor of course when you invest in any asset. Perhaps, even more, the case when you are buying Shiba Inu (SHIB). It is subject to more pronounced price movements than investing in stocks for example. In that case, you want to be fully aware of the market price at the time you are buying.
Trading Fees or Limits: These can vary from extremely competitive to very high depending on the service you choose to buy your Shiba Inu (SHIB) through. Always be sure to check for all fees and charges before making a purchase.
Top Places to Buy Shiba Inu (SHIB) in Canada
Coinberry is making it easy to access Shiba Inu (SHIB) in Canada with no fuss and buy or sell the asset quickly through the user-friendly platform. Coinberry has been around since 2017 and has a number of highly-trusted partnerships that set them up with a solid reputation for cryptocurrency. They are also registered with FINTRAC as a Money Services Business (Financial Transactions and Reports Analysis Centre of Canada) which is an extra layer of trust.
You can have your account open and KYC verified here in no time at all and Coinberry also ensures the best value environment possible for buying or trading your Shiba Inu (SHIB) and the other supported assets. With no deposit or withdrawal fees, and a 0.5% trading fee, they come in as one of the cheapest services where you can buy Shiba Inu (SHIB) in Canada using your debit, credit card, wire, or Interac transfer. You should note though that as a market maker, they will apply a spread to the asset.
Overall Coinberry provides a secure, super-convenient, and well-trusted service with competitively low costs.
Though CoinSmart has only been in business since 2018, they have already developed a strong reputation for being a transparent exchange with good backing and credibility and is one of the best exchanges to buy Shiba Inu (SHIB). Canada has some of the most stringent regulations in place for user security, so immediately, knowing that CoinSmart is Canadian founded and based in Toronto is a positive.
The exchange is registered with FINTRAC, the national financial intelligence agency of Canada as a money services business and was recently granted restricted dealer registration with the Ontario Securities Commission along with all the other Canadian Securities Administration members.
Furthermore, the company is publicly traded having launched on the Canadian NEO stock exchange in November 2021. This listing, alongside the other regulatory frameworks in place at CoinSmart, ensures that they provide one of the most transparent, and well-regulated environments in Canada and worldwide for cryptocurrency trading.
Sign up with code: getcrypto and get C$20 of BTC when you fund your account.
They also offer: Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Litecoin (LTC), Uniswap (UNI), Chainlink (LINK), Polkadot (DOT), Shiba Inu (SHIB), Dogecoin (DOGE), Bitcoin Cash (BCH), Stellar Lumens (XLM), and EOS (EOS).
Binance is one of the largest and most well-known cryptocurrency exchanges in the world. They accept residents from all Canadian provinces excluding Ontario. As a Canadian trader, you can also use Binance to purchase Shiba Inu (SHIB). There are slight differences when it comes to using exchanges like Binance instead of purchasing your Shiba Inu (SHIB) directly as you can through the other services mentioned.
The main key differences are that in purchasing from Binance you can also buy from other traders in the market through the exchange. This can mean great value for you in terms of price and costs. Binance charges between 1% and 3.5% for direct Shiba Inu (SHIB) purchases using your credit, debit card, or bank transfer, though if you want to buy Shiba Inu (SHIB) using another crypto the fee can be as low as 0.1% from other traders on the exchange.
The process of getting started is also just as convenient. All you need to do is register with Binance and complete the KYC checks they have in place. For direct purchases, they partner with Simplex as a payment provider that also ensures your transactions remain safe and secure. It should take no more than a few minutes to complete your Shiba Inu (SHIB) purchase with Binance.
They also offer over 100 of the most popular cryptocurrencies, if you want to buy altcoins including Binance (BNB), this is a great option.
Ontario residents are prohibited.
Daniel is a big proponent of how blockchain will eventually disrupt big finance. He breathes technology and lives to try new gadgets.
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