This is not investment advice. This is for educational purposes only. Please note that cryptocurrency is a highly volatile asset class.
Shiba Inu, after an edge-of-your-seat delay, is now poised to be listed on Coinbase on Sept. 9. In mid-July, Shiba Inu token holders erupted in excitement when Coinbase, the most popular cryptocurrency exchange in the US, validated the meme token by adding it to its arsenal of digital assets. However, the celebration came to a screeching halt when Coinbase announced an indefinite delay in making SHIB a tradeable asset on its platform.
In a long-awaited tweet, Coinbase posted that inbound transfers for SHIB are now available in the regions where trading is supported. If liquidity conditions are met, Coinbase users will be able to place orders on SHIB on Thursday at 9 a.m. PT.
Inbound transfers for SHIB are now available in the regions where trading is supported. Traders cannot place orders and no orders will be filled. Trading will begin on or after 9AM PT on Thursday September 9, if liquidity conditions are met. pic.twitter.com/M1ktPVEkmtSeptember 8, 2021
With SHIB being a lot more accessible due to its Coinbase listing, more people may be interested in getting their hands on the token dubbed the "Dogecoin killer." That being said, here's an easy, step-by-step tutorial on how to buy Shiba Inu on Coinbase so that you're prepared to buy it once trading goes live.
How to buy Shiba Inu on Coinbase Pro
1. Log into your Coinbase Pro account.
2. Navigate to "Portfolios" and click on "Deposit" (located at the top-right corner).
2. Click on the currency you'd like to use to exchange for SHIB (in this case, it's USD).
3. Select how you'd like to fund your Coinbase Pro account. There are two options: Bank Account and Wire Transfer (there's a $10 fee for wire transfers in addition to whatever your bank charges). For this guide, we'll be clicking on "Bank Account."
4. Input how much SHIB you'd like to buy and click on "Withdraw."
5. Click on "Trade" and click "Select Market." Click on "SHIB-USD."
6. Make sure the "Buy" button is selected under "Order Form."
7. Input how much SHIB you'd like to buy in the "Amount" field.
8. Click on "Place Buy Order."
And, voila! You've just made your first SHIB purchase.
Don't forget that that cryptocurrency is a highly volatile asset class. Please exercise sufficient risk management. As with any investment, only invest what you can afford to lose.
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Kimberly Gedeon, holding a Master's degree in International Journalism, launched her career as a journalist for MadameNoire's business beat in 2013. She loved translating stuffy stories about the economy, personal finance and investing into digestible, easy-to-understand, entertaining stories for young women of color. During her time on the business beat, she discovered her passion for tech as she dove into articles about tech entrepreneurship, the Consumer Electronics Show (CES) and the latest tablets. After eight years of freelancing, dabbling in a myriad of beats, she's finally found a home at Laptop Mag that accepts her as the crypto-addicted, virtual reality-loving, investing-focused, tech-fascinated nerd she is. Woot!