Shiba Inu, known as Dogecoin Killer, has become a popular Memecoin today. Despite its low price, its market volume is very high and the number of people investing in it is also increasing rapidly. On the other hand, if you want to stay in India and buy Shiba Inu directly from the Indian rupee (INR), then for this you have to understand some easy and important steps. So let’s know in detail in this blog, what is the entire process to buy Shib in INR in India.
The first step is to choose a perfect crypto change
To buy Shiba Inu, first you have to choose a crypto exchange that facilitates direct trading between Shib and INR. There are many good platforms in India such as Wazirx, coindcx, zebpay, coinswitch kuber and buyucoin. On all these you can easily buy Shib instead of INR. If you use international platforms like binance or coinbase, you may have to use P2P (Peer-TO-PEER) system or third party wallets for INR deposit. At the same time, before choosing the exchange, check its reliability, user interface, transaction fees, security features and customer support.
Creating an account and completing KYC Procedure is important
Once you select an exchange, the next step is to create your account on it. Usually for this you have to register with your email ID and mobile number. But to start trading, you also need to complete KYC verification. In this process, you have to upload your Aadhaar card, PAN card and a recent photo. Some exchange may also demand your address proof. Only after the completion of KYC verification, you can start buying INR deposit and crypto.
Deposit money in INR POCKETS
As soon as KYC Procedure is completed, you can deposit Indian rupees in your exchange wallet. For this, most exchanges use UPI, net banking, debit/credit card or some third-party payment gateway. UPI is the fastest and easiest option, but some exchanges also levy minor transactions on it. So before you transfer funds, definitely check how much the exchange you have chosen and what is the processing time.
How to search and buy shib token
The next step is to buy Shiba Inu Token after INR is deposited in the wallet. For this, go to the trading section of the exchange and search “shib” or “shiba inu”. When Shib/INR pair appears, click on it. Now you are ready to buy Shiba Inu.
You will get two options while buying shib, Market and Limit Order
When buying shib, you get two options, market order and limit order. You in market order Flow shiba inu value in in Can buy shib, which is convenient for new investors. On the other hand, in the limit order you set a fixed price on which you want to buy a shib. When the market reaches that price, then your order is completed. If you have some experience about trading, then the limit order can be beneficial for you.
Confirm the transaction and buy shib
Now you just have to decide how many rupees you want to buy. Whether you start with ₹ 100 or from ₹ 1000, you can choose the amount as per your convenience. After giving the amount, click on the “Buy” or “Confirm” button and your prescription process will be completed. In a few seconds, you will start seeing shib token in your wallet.
What are the things to keep in mind while making a crypto investment
The process of buying Shiba Inu is as easy as it is. First of all, every exchange charges some fees. Such as trading fees, deposits or withdrawal fees. It is necessary to take complete information about this in advance. Second, the world of cryptocurrency is quite volatile, that is, there can be big ups and downs in the price. The value of Shib may increase or decrease rapidly in a few hours, so do research yourself before investing in it.
Apart from this, check the security features of the exchange on which you are making an account. Facilities like two-factor authentication (2FA), SSL encryption and cold wallet support help to keep your digital assets safe. Also, decide whether you want to hold Shib long -term or want to trading in short term, so that your strategy is already decided.
Conclusion
From INR in India Shiba inu Buying has now become much easier than before. With correct information, reliable exchange and caution, you can also take steps in this fast growing cryptocurrency world. Start the investment with a small amount, get experience and develop your strategy as you grow. At the same time, the first step of successful investment in cryptocurrency is to learn the right decision and frequent learning.
Also read:Bitcoin to INR, A Complete Information, Learn INR Performance
