9 Ways You Can Buy Shiba Inu Coin (SHIB) in Singapore

Last updated on November 23rd, 2021

With the recent craze over Dogecoin, other dog-related cryptocurrencies like the Shiba Inu coin (SHIB) and Floki Inu Coin (FLOKI) have become quite popular too.

If you’re looking to buy this meme coin, here are some options you can consider if you’re from Singapore.

How to buy Shiba Inu Coin in Singapore

Here are 9 ways you can buy Shiba Inu Coin (SHIB) in Singapore:

1. Coinhako
2. FTX
3. Crypto.com (App)
4. Crypto.com (Exchange)
5. Gemini (Exchange)
6. AAX
7. Huobi
8. OKEx
9. KuCoin

This is a summary of all of the methods,

Platform	Trading Fee
Coinhako	0.8% – 1.0%
FTX	Up to 0.07%
Crypto.com (App)	None (but may have large spread)
Crypto.com (Exchange)	Up to 0.16%
Gemini (Exchange)	From 1.49%
AAX	Up to 0.1%
Huobi	Up to 0.2%
OKEx	Up to 0.1%
KuCoin	Up to 0.1%

and here is each exchange explained in-depth:

Coinhako

Coinhako is one of the most straightforward ways of buying SHIB in Singapore.

This is because you can directly buy SHIB from SGD!

How to buy SHIB on Coinhako

Here are the steps that you’ll need to do to buy SHIB on Coinhako:

1. Deposit SGD into your SGD wallet
2. Go to ‘Trade’
3. Look for SHIB and click on Buy
4. Select the amount of SGD you wish to use to purchase SHIB
5. Verify the transfer

#1 Deposit SGD into your SGD wallet

To start buying crypto on Coinhako, you will need to fund your SGD wallet first. There are 2 ways you can do so:

1. Xfers
2. Direct FAST transfer

In the past, you could only use Xfers to deposit your funds into Coinhako.

Xfers acts as a middleman between the crypto exchange and your bank account.

However, you are now able to transfer your funds directly to your SGD wallet via FAST.

Don’t forget to include your unique deposit code in the comments section of the transfer. This will help Coinhako to match the deposit to your account.

You do not incur fees when depositing via FAST. Meanwhile, you will incur a 0.55% fee for each deposit via Xfers!

FAST is the more cost-effective way to deposit your SGD into Coinhako. However, it may take a longer time for your funds to be processed compared to Xfers Direct.

#2 Go to ‘Trade’

On Coinhako’s platform, you’ll need to go to the ‘Trade‘ section.

This is where you are able to buy and sell crypto on Coinhako.

When you are making any trade, you can’t determine the price that you wish to buy or sell at. Coinhako will try to match it to the prevailing market rate when you make the trade.

#3 Look for SHIB and click on Buy

You’ll need to scroll down to find SHIB, and then click on ‘Buy‘.

#4 Select the amount of SGD you wish to use to purchase SHIB

You will need to select the amount of SGD that you wish to use for your trade. The amount of SHIB that you receive will be based on the prevailing market rates.

You may want to note that you can only buy or sell SHIB at this point in time. You are unable to send or receive SHIB to and from an external wallet.

Coinhako has a minimum of $0.50 SGD for each trade that you make.

For every trade that you make on Coinhako, you are charged a 1% fee.

However, if you use the promo code ‘COINGECKO‘, you will reduce your fees to 0.8%.

Any reduction in fees would help to increase your returns!

It is also possible to buy SHIB using your credit or debit card. However, you will be charged an additional 3% by Coinhako’s payment service provider!

It is really not worth the fees of using your debit card to make the trade, especially when FAST transfers are free!

#5 Verify the transfer

Once you’re done, you will need to verify your trade.

SHIB will be credited to your account when the trade is completed.

Verdict

Here are the fees that you’ll incur when trading with Coinhako:

Type of Fee	Amount
Deposit Fees	None (FAST), 0.55% (Xfers)
Minimum Trade Amount	$0.5
Trading Fees	1% for any trade (0.8% if you use the promo code COINGECKO)
Withdrawal Fee (SGD)	$2 per withdrawal

It is definitely more cost-effective to deposit into your SGD wallet via FAST compared to Xfers. You will incur unnecessary fees if you do so with Xfers.

However, it may take a longer time for your funds to appear in your account if you use FAST compared to Xfers.

Another thing you’ll need to take note of is the withdrawal fee of $2. If you are withdrawing out small amounts, it would not be worth this fee.

Overall, Coinhako has pretty high fees. However, the convenience of buying SHIB directly from SGD helps to make up for it.

FTX

FTX is a cryptocurrency trading platform that is based in California.

They offer one of the cheapest fees when it comes to trading crypto!

Here’s what you need to buy SHIB on FTX:

1. Deposit USD to FTX
2. Select the USD/SHIB trading pair on FTX
3. Enter the details of your order

#1 Deposit USD to FTX

While FTX supports SGD, there are no SGD trading pairs with cryptocurrency on the platform. FTX only offers a SHIB trading pair with USD. As such, the best way would be to deposit USD on the platform.

You can read my guide on depositing fiat currencies from Singapore to FTX to find out more about how you can deposit USD to FTX from Singapore.

#2 Select the USD/SHIB trading pair on FTX

Once you’ve deposited USD, you can start to trade it for SHIB.

You’ll need to go to the hamburger icon on the left-hand side of FTX’s platform,

and then search for ‘SHIB‘ under Spot.

Futures are a rather complicated product, and you should only be trading in futures if you understand it well!

#3 Enter the details of your order

You can make 7 different orders on FTX:

1. Limit
2. Market
3. Stop market
4. Stop limit
5. Trailing stop
6. Take profit
7. Take profit limit

After selecting your order type, you’ll need to:

1. Select the amount of USD you want to buy 1 SHIB at
2. Select the amount of SHIB you want to buy

Once your order has been processed, SHIB will be credited into your account.

Verdict

FTX charges up to 0.07% (for taker fees) on their platform. This is one of the cheapest fees that you’ll be able to receive for Spot trading!

Due to its rather low fees, FTX can be a platform that you can consider if you want to reduce your costs.

Crypto.com (App)

Crypto.com is a platform that offers Xfers support. This makes trading crypto more accessible from Singapore.

You can’t buy SHIB directly from SGD on Crypto.com. Instead, you’ll need to make at least 2 trades to buy SHIB.

How to buy SHIB on Crypto.com

Here are the steps you’ll need to do to buy SHIB on Crypto.com:

1. Go to Crypto Wallet
2. Scroll down and find SHIB
3. Click on ‘Buy SHIB’
4. Select your payment method
5. Confirm the trade

#1 Go to Crypto Wallet

You’ll need to access your crypto wallet on the Crypto.com app.

This can be done by tapping on the central icon and going to ‘Crypto Wallet‘.

#2 Scroll down and find SHIB

If you don’t have any SHIB in your Crypto.com wallet, you’ll need to scroll down to find the currency.

You can use the search function to find SHIB, as there are quite a lot of currencies available on the app!

#3 Click on ‘Buy SHIB’

You will be on the SHIB price page. You’ll need to tap on ‘Buy SHIB‘ to make the trade.

#4 Select your payment method

Since you are using the Crypto.com App, you can only buy SHIB at the prevailing market rate.

This is different from the Crypto.com Exchange, which allows you to trade SHIB with other traders.

There are 3 payment methods that you can use to buy SHIB on Crypto.com:

1. Debit or credit card

You can use either a credit or debit card to purchase SHIB directly.

This would probably be the most efficient way of buying SHIB. However, you will be charged a 3.5% fee if you’re from Singapore!

The fees are almost as expensive as buying from Coinhako.

Due to this high fee, it may not be worth buying SHIB using your credit or debit card.

2. Crypto wallet

If you have other cryptocurrencies in your crypto wallet, you can use this to trade for SHIB.

You can only buy SHIB from either USDT or USDC.

3. Fiat wallet

The final way that you can buy SHIB on Crypto.com is via a fiat wallet.

Fiat money is government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it.

Investopedia

You can only buy SHIB from either a EUR or AUD fiat account.

This is because there are only 8 cryptocurrencies that you can purchase from Xfers:

1. BTC
2. ETH
3. BCH
4. LTC
5. XRP
6. CRO
7. BNB
8. USDC

If you want to buy SHIB with SGD, here are the steps that you’ll need to do:

1. Buy USDC with SGD from your fiat wallet
2. Purchase SHIB from USDC in your crypto wallet (method 2)

#5 Confirm the trade

When you confirm the details, Crypto.com will lock in the exchange rate for 15 seconds.

Once you confirm the trade, SHIB will be credited to your account.

Verdict

Here are the fees that you’ll incur with Crypto.com:

Type of Fee	Amount
Deposit Fees	None
Trading Fees	None
Withdrawal Fee	0.4% per withdrawal (Xfers)

The fees when trading with Crypto.com seem to be lower! However the spreads can be quite high.

A spread in trading is the difference between the buy (offer) and sell (bid) prices quoted for an asset.

IG Trading

When you make multiple trades on the Crypto.com app, you may lose some money due to the spread!

These costs can be hard to keep track, but it is something you’ll need to consider.

The Crypto.com App is very convenient as you can buy SHIB with SGD. For the other methods, you aren’t able to do so, as these platforms do not support SGD.

One added advantage is that you are able to earn interest on your SHIB with Crypto Earn!

Crypto.com (Exchange)

If you are looking for a more cost-effective way of buying other crypto using Crypto.com, you can consider using their exchange platform instead.

This platform is separate from the app, and you’ll need to create a separate account for it.

If you are interested in signing up for a Crypto.com Exchange account and stake at least 1,000 CRO, you can earn at least $10 USD worth of CRO!

For this exchange, you aren’t able to trade your SGD for any of the currencies.

Instead, there are 4 main trading pairs that you can use:

1. BTC
2. USDT
3. USDC
4. CRO

However, it is much harder to buy SHIB as Crypto.com’s Exchange only allows you to trade SHIB with either USDT or USDC!

As such, you’ll need to make 2 trades:

1. CRO or BTC to USDT or USDC
2. USDT or USDC to SHIB

Verdict

Buying SHIB on Crypto.com’s Exchange may not be the most cost-effective, as you’ll need to make 2 trades. When you trade on the Crypto.com Exchange, you will be charged up to 0.4% for each trade that you make.

Even though the spread on Crypto.com’s app is quite large, it may still be more cost-effective to trade compared to the Exchange!

Gemini (Exchange)

Gemini is another platform that allows you to buy SHIB directly from SGD. However, the fees can be quite high!

First, you’ll need to deposit your funds via Xfers.

After that, you can use the Gemini Exchange to buy SHIB immediately.

Verdict

Here are the fees that you’ll incur when trading on Gemini’s Exchange:

Trade Amount (SGD)	Trading Fee (SGD)
≤ $15.00	$1.50
> $15.00 but ≤ $35.00	$2.00
> $35.00 but ≤ $70.00	$2.75
> $70.00 but ≤ $250.00	$4.00
> $250.00	1.49% of your Web Order value

It is definitely not worth trading any amount that is below $250 SGD.

Moreover, you can only buy SHIB from USD on Gemini’s Active Trader platform.

This is similar to buying ENJ, AAVE, DOGE or MATIC on the platform too.

Since Gemini does not allow you to convert SGD to USD, the only way would be to send USD over to Gemini via wire transfer.

Although Gemini has a great user interface, it may not be the most cost-effective option to buy SHIB from Singapore!

AAX

Atom Asset Exchange (AAX) was founded in 2018, and is based in Hong Kong.

You are able to buy USDT directly from SGD through the use of XanPool.

Alternatively, you are able to deposit USDT to this platform via the TRC20 network, which saves a lot of fees!

Here’s what you need to do to buy SHIB on AAX:

1. Buy USDT from SGD using XanPool
2. Find the SHIB/USDT trading pair
3. Make the trade

#1 Buy USDT from SGD using XanPool

AAX has a partnership with XanPool which allows you to buy USDT directly from SGD.

To do so, you can go to ‘Buy Crypto‘, and select ‘Fast Buy‘.

This will bring you to a page, where you’ll need to select ‘Buy‘, ‘Spend SGD‘ and ‘Receive USDT‘.

You will be using XanPool’s platform to buy USDT from SGD. After viewing the fees that you’ll incur, you will be redirected to XanPool to make the transaction.

An alternative method you can use is by buying USDT on Liquid, and then transferring it to AAX via the TRC20 network. You can view my guide on buying USDT to find out more.

#2 Find the SHIB/USDT trading pair

Once you’ve exchanged your SGD for USDT, you can now go to AAX’s trading platform.

This can be done by selecting ‘Spot’ on the menu.

After that, you’ll need to select a trading pair with SHIB.

#3 Make the trade

After selecting SHIB/USDT as your trading pair, you’ll need to decide on the order type:

1. Limit
2. Market
3. Stop order

You’ll also need to enter the details of the trade you wish to make.

This includes:

1. The price of USDT you want to buy 1 SHIB at
2. The amount of SHIB you wish to buy

Once the trade has been filled, SHIB will be credited into your account.

Verdict

AAX accepts USDT via the TRC20 network, which helps to reduce the fees when you’re transferring from one platform to another.

To take advantage of this, you can use either Liquid or XanPool to transfer your crypto to AAX using the TRC20 network.

AAX also charges up to 0.1% in trading fees, which is rather affordable!

The remaining exchanges do not support SGD

For the next few methods, they do not allow you to deposit SGD into their exchanges.

This means that you’ll have to buy a cryptocurrency from one exchange, and then send it to these exchanges.

The currencies that you can buy include:

• USDT
• Bitcoin
• Ethereum

This is because these 3 currencies have the most number of trading pairs with other cryptocurrencies! You should be able to buy rare altcoins with either BTC, ETH or USDT as a trading pair.

However, you’ll need to consider the withdrawal fees that you’ll incur when sending your crypto on the blockchain.

Depending on the fees, it can be really hefty!

Here are 2 ways that you can transfer cryptocurrency to these exchanges:

#1 Use Gemini Active Trader to send BTC or ETH for free (up to 10 withdrawals per month)

You can consider using Gemini’s Active Trader, which charges a rather low 0.35% trading fee. You are able to purchase either BTC or ETH from Gemini.

After that, you can send your BTC or ETH to any of the exchanges below. You will not be charged any withdrawal fees for up to 10 withdrawals per month.

#2 Transfer USDT over the TRC20 network to an exchange that supports such deposits

USDT is a rather ‘universal’ stablecoin as most exchanges have USDT trading pairs with the cryptocurrency that you want to buy.

If you are using the ERC20 network to transfer USDT, the withdrawal fees are rather high. It can go up to 40 USDT for a single withdrawal!

However, if you use the TRC20 network to send USDT, such transfers are much cheaper due to the lower congestion. Platforms like XanPool or Liquid even allow you to withdraw USDT for free via the TRC20 network!

The main thing you’ll need to make sure of is that the exchange you’re sending to accepts the TRC20 version of USDT.

You can view my guide on how to buy USDT to find out more.

Huobi

Huobi is another crypto exchange that allows you to trade a variety of cryptocurrencies.

Since they do not allow you to deposit SGD onto their platform, you’ll need to deposit another cryptocurrency into the exchange first.

Here’s what you’ll need to do to buy SHIB on Huobi:

1. Deposit USDT into Huobi
2. Select the SHIB/USDT trading pair
3. Select the type of order you wish to make
4. Select the quantity of SHIB you wish to buy

#1 Deposit a cryptocurrency into Huobi

First, you’ll need to go to ‘Balances → Exchange Account‘.

This is where you will deposit your crypto to.

You can choose a wider variety of cryptocurrencies to deposit into Huobi, compared to Binance.

Huobi only has a SHIB/USDT trading pair. This means that you should only deposit USDT into Huobi if you want to buy SHIB.

If you want to reduce the amount of withdrawal fees that you incur, you can send your USDT via the TRC20 network . The amount of fees that you pay is much less compared to the ERC20 network!

You can view my guide on how to buy USDT on XanPool and withdraw it to Huobi.

#2 Select the SHIB/USDT trading pair

After depositing your crypto, you can start trading it.

If you just want to trade your crypto, you can go to ‘Spot Trading → Exchange‘.

You’ll be brought to the exchange platform.

You’ll need to search for the SHIB/USDT trading pair, which can be done at the left hand side of the platform.

#3 Select the type of order you wish to make

After you’ve selected your trading pair, you would need to select the order type that you wish to make:

1. Limit
2. Market
3. Stop-Limit
4. Trigger Order

Limit orders allow you to determine the price you wish to buy or sell your crypto. Meanwhile, market orders will buy your crypto at the prevailing market rate.

#4 Select the quantity of SHIB you wish to buy

After you’ve selected your order, you’ll need to select the amount of SHIB you wish to buy.

Once the trade has been executed, SHIB will be credited into your account.

Verdict

Here are the fees that you’ll incur when trading with Huobi:

Type of Fee	Fee Amount
Trading Fees	From 0.20%
Withdrawal Fees	Depends on currency

The trading fees are rather low compared to other platforms. However, the main limitation is that you can only buy SHIB using USDT on Huobi.

This is because there are not many crypto exchanges in Singapore that allow you to buy USDT from SGD.

OKEx

OKEx is another crypto exchange that you can consider buying SHIB coin from.

Similar to Huobi, they only have a USDT trading pair.

Here’s how you can buy SHIB on OKEx:

1. Deposit USDT into OKEx
2. Select the SHIB/USDT trading pair
3. Enter the details of your trade
4. Execute the trade

#1 Deposit USDT into OKEx

OKEx only offers a SHIB/USDT trading pair on their platform.

As such, you should only be depositing USDT into OKEx!

You’ll need to go to ‘Assets → Deposit‘,

and then select USDT as the currency you wish to deposit.

There are 4 different USDT networks that you can deposit your USDT into OKEx:

1. USDT-TRC20
2. USDT-ERC20
3. USDT-ALGO
4. USDT-OKExChain

Most exchanges will allow you to transfer USDT via the ERC20 network. However, OKEx also supports TRC20 (just like Huobi).

As such, you will be able to save on withdrawal fees if you buy USDT from platforms like XanPool.

You can buy USDT from your credit card, but the fees may be expensive

Another way that you can buy USDT on OKEx is by using a credit card.

You’ll need to choose an external payment provider.

The fees that you incur may vary between these payment providers.

While it is more convenient, the amount of fees that you pay may be quite high!

#2 Select the SHIB/USDT trading pair

Once you have USDT in your OKEx account, you can start trading SHIB.

You’ll need to go to ‘Trade → Basic Trading‘,

which brings you to OKEx’s trading platform.

You will need to select the SHIB/USDT trading pair from the search bar.

#3 Enter the details of your trade

You are able to make 5 different types of orders you can make on OKEx:

1. Limit
2. Market
3. Stop
4. Trigger
5. Advanced Limit

You’ll also need to enter:

1. The price that you want to pay for 1 SHIB
2. The amount of SHIB you want to buy

#4 Execute the trade

Once your trade has been executed, SHIB will be credited into your account.

Verdict

OKEx charges up to 0.1% for their trading fees.

This is slightly cheaper compared to Huobi!

If you intend to buy SHIB from USDT, you may want to consider using OKEx instead of Huobi.

KuCoin

KuCoin is another exchange that you can use to buy SHIB. However, you will need to transfer a cryptocurrency from another platform first.

This is because KuCoin does not support any fiat currencies!

How to buy Shiba Inu Coin on KuCoin

Here’s what you need to do to buy SHIB on KuCoin:

1. Send USDT to the KuCoin Main Account
2. Transfer USDT to the Trading Account
3. Find the SHIB/USDT trading pair
4. Select the price and quantity to buy SHIB

#1 Send your crypto to the KuCoin Main Account

KuCoin does not support any fiat currencies. To fund your KuCoin account, you will need to send a cryptocurrency from another platform.

KuCoin only supports the USDT trading pair with SHIB.

As such, you should deposit USDT into your KuCoin account!

You will need to go to ‘Deposit‘.

You can use the dropdown menu to select USDT.

From there, you will be given a deposit address to send your crypto to.

If you are copying the address manually, you may want to double-check that it is the correct address!

#2 Transfer your crypto to the Trading Account

When you deposit your USDT into your KuCoin account, it will be transferred to your Main Account.

If you wish to trade your USDT to SHIB, you will need to transfer it to your Trading Account!

#3 Find a suitable trading pair

After you’ve transferred your crypto to your Trading Account, you can go to KuCoin’s Spot Exchange.

The exchange may seem to be rather overwhelming.

You will need to go to the top left hand corner to select the SHIB/USDT trading pair.

#4 Select the price and quantity to buy SHIB

After selecting the SHIB/USDT trading pair, you can proceed to make the order.

KuCoin allows you to make 4 different orders:

1. Limit
2. Market
3. Stop Limit
4. Stop Market

The last 2 things you’ll need to do is to:

1. Select the price of USDT that you’d like to buy 1 SHIB at
2. The amount of SHIB that you wish to buy

When your trade is completed, SHIB will be credited into your account.

Verdict

Here are the fees that you’ll incur when buying and sending SHIB on KuCoin:

Fee	Amount
Trading Fees	Up to 0.1%
SHIB Withdrawal Fee	2,200,000 SHIB

The fees that you incur on KuCoin are rather similar to Binance or OKEx!

Conclusion

The most direct way of buying SHIB will be through Coinhako or Gemini. However, the fees can be rather high compared to the other platforms.

Furthermore, if you want to place a limit order for SHIB, you are unable to do so on either platform.

FTX may be an alternative, although it may take a while for your USD deposit to show up on the platform.

For the remaining platforms, you will need to make at least 2 trades before you’re able to buy SHIB.

👉🏻 Referral Deals

If you are interested in signing up for any of the products mentioned above, you can check them out below!

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Here are the amounts that you’ll need to stake to receive the bonuses:

Amount of CRO Staked	Referral Bonus You Receive
1,000 – 4,999 CRO	$10
≥ 5,000 CRO	$50

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If you are interested in signing up for a Gemini account, you can use my referral link.

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OKEx Referral (Receive USD $10 of BTC)

If you are interested in signing up for an OKEx account, you can use my referral link. If you make a crypto purchase of ≥ $100 USD via Buy / Sell, we will both receive USD $10 worth of BTC.

Here’s what you need to do:

1. Sign up for an OKEx account
2. Go to Buy/Sell to buy crypto from a variety of methods (e.g. Credit Card or PayNow)
3. Buy ≥ $100 USD worth of crypto
4. Receive $10 USD worth of BTC in your OKEx account

If you use OKEx’s Buy/Sell feature, you will be buying your crypto from a 3rd-party payment provider.

The fees may vary, but the $10 USD credit should be able to help to pay for your trading fees!

Are you passionate about personal finance and want to earn some flexible income?