Crypto Invest

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

How To Buy Shiba Inu Coin In Singapore

Last updated on June 6th, 2021

This article contains affiliate links. You can read more about these links in my Editorial Guidelines.

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

Since this currency is still quite new, not many crypto exchanges have listed SHIB on their platform yet.

Nevertheless, you can consider some of these platforms if you want to get your hands on this token!

Disclaimer: This article is meant for information purposes only, and it is not intended to provide you with financial advice. You should always do your own research first, before making an investment decision!

How to buy Shiba Inu Coin in Singapore

Here are 8 ways you can buy Shiba Inu Coin (SHIB) in Singapore:

  1. Crypto.com (App)
  2. Crypto.com (Exchange)
  3. AAX
  4. Binance
  5. Huobi
  6. OKEx
  7. KuCoin
  8. Bitrue

This is a summary of all of the methods,

PlatformTrading Fee
Crypto.com
(App)
None (but may
have large spread)
Crypto.com
(Exchange)
Up to 0.16%
AAXUp to 0.1%
BinanceUp to 0.1%
Huobi Up to 0.2%
OKExUp to 0.1%
KuCoinUp to 0.1%
Bitrue0.28%

and here is each exchange explained in-depth:

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.

Crypto.com Crypto Wallet

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.

Crypto.com App Select Shiba Inu

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

Crypto.com App Use Search Function

#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.

Crypto.com Buy Shiba Inu Page

#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.

Crypto.com Buy SHIB Credit Card

This would probably 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.

Crypto.com App Buy SHIB

You can only buy SHIB from either CRO or USDT.

3. Fiat wallet

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

Crypto.com App Buy SHIB 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. XSGD

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

  1. Buy CRO with SGD from your fiat wallet
  2. Purchase SHIB from CRO 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 FeeAmount
Deposit FeesNone
Trading FeesNone
Withdrawal Fee0.4% per
withdrawal (Xfers)

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

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.

Crypto.com Exchange Platform 1

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 3 main trading pairs that you can use:

  1. BTC
  2. USDT
  3. CRO
Crypto.com Exchange Trading Pairs

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

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

  1. CRO or BTC to USDT
  2. USDT 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.

The trading fees start from between 0.10% to 0.16%.

Crypto.com Exchange Fees

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!

AAX

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

This exchange allows you to deposit SGD into your account. However, you can only trade SGD into BTC or USDT!

This means that you’ll need to make 2 conversions before you can get SHIB.

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

  1. Deposit SGD into AAX
  2. Use the Exchange feature to exchange SGD to USDT
  3. Find the SHIB/USDT trading pair
  4. Make the trade

#1 Deposit SGD into AAX

First, you’ll need to deposit SGD into your AAX account.

AAX Deposit SGD

You will need to deposit a minimum of $50 into your account. However, if you deposit less than $1.5k, you will incur a $35 deposit fee!

#2 Use the Exchange feature to exchange SGD to USDT

Once you have your SGD into your account, you’ll need to go to ‘Buy Crypto → Exchange‘.

AAX Go To Exchange Platform

The Exchange platform allows you to buy USDT from your SGD.

AAX Exchange Feature SGD to BTC or USDT

Even though you can buy BTC too, AAX currently does not have a BTC/SHIB trading pair! As such, you can only buy SHIB from USDT.

AAX does not charge any fees for this conversion. However, the exchange rate may be slightly less favourable compared to the market rate.

#3 Find the SHIB/USDT trading pair

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

AAX Trading Platform

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

AAX Select Spot

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

AAX SHIB Trading Pair USDT

#4 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
AAX Buy SHIB From USDT

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

Here are the fees and minimums when you’re trading on AAX:

Deposit Minimum$50
Deposit Fees$35 if deposit < $1500,
none if deposit ≥ $1500
Trading FeesUp to 0.1%
Withdrawal Minimum$150
Withdrawal Fees0.3% (Minimum $10)
Sending FeesDepends on currency

If you want to save on the deposit fees, you’ll have to deposit at least $1.5k into your AAX account each time!

The trading fees are as competitive as Binance (up to 0.1%), and AAX has the added advantage of supporting fiat currencies like SGD.

However, you’ll still need to make 2 trades to get SHIB!

I would think that AAX is suitable only if you intend to trade a large amount of crypto.

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 currency that you should buy is Bitcoin or Ethereum, which would have the most number of trading pairs.

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!

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.

Gemini SGD Trading Pairs

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.

Gemini No Withdrawal Fee

Binance

Binance is one of the largest crypto exchanges in the world. You are able to trade many cryptocurrencies on their platform.

You can’t buy SHIB using a credit card, nor directly from your SGD. As such, you’ll need to use the altcoin method to buy this currency.

First, you’ll need to buy crypto from another exchange, and then deposit it into Binance.

Binance Deposit BTC

You will need to deposit USDT into Binance, since SHIB only has a trading pair with USDT or BUSD.

When you deposit your crypto, you’ll need to make sure that the address you’re sending to is correct.

If not, your crypto may be lost forever!

You can consider using the Binance P2P platform too

Instead of sending crypto from another platform, you can consider using Binance’s P2P platform as well.

Binance P2P Platform Buy ETH

This platform allows you to buy crypto from SGD, such as:

  1. BTC
  2. ETH
  3. USDT

Again, you should only buy USDT since Binance only has a SHIB/USDT trading pair.

Using this method will help you to save on sending fees. However, there may be scammers that are on the platform.

As such, you’ll need to be very careful with who you’re trading with!

Make the trade from your crypto to SHIB

After depositing your crypto, you’ll have to buy SHIB on Binance’s trading platform.

Binance Trading Platform

After selecting your trading pair (SHIB/USDT or SHIB/BUSD), you can start to determine the details of your order.

Binance Buy SHIB From USDT

You’ll need to decide on:

  1. The amount of BTC you want to trade
  2. The price of SHIB you want to buy at

Once you make the trade, SHIB will be credited into your account.

Verdict

Here are the fees that you’ll incur when trading on Binance:

Type of FeesFee Amount
Deposit FeesNone
Trading FeesUp to 0.1%

The trading fees on Binance are as low as Luno Exchange!

However, it is also quite a hassle to buy SHIB on Binance if you’re from Singapore. If you send USDT to Binance, you will incur a withdrawal fee from the crypto exchange you’re sending from.

All of these fees will add up, and you may buy a much lower amount of SHIB than you initially expected.

Furthermore, you may need to think of the strategy you wish to use to sell your SHIB and receive SGD too.

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‘.

Huobi Balance 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 Deposit Cryptocurrency

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

#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‘.

Huobi Spot Trading

You’ll be brought to the exchange platform.

Huobi 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.

Huobi SHIB Trading Pair

#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.

Huobi Buy SHIB From USDT

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 FeeFee Amount
Trading FeesFrom 0.20%
Withdrawal FeesDepends 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‘,

OKEx 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
OKEx USDT Supported Networks

Usually, most of your USDT should be ERC20 tokens on the Ethereum blockchain. It’ll be good if you double check which network your USDT is on.

If you send your USDT to the wrong address, it will be lost forever!

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.

OKEx Buy USDT With Credit Card

You’ll need to choose an external payment provider.

OKEx Credit Card Payment Providers

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‘,

OKEx Select Basic Trading

which brings you to OKEx’s trading platform.

OKEx Trading Platform

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

OKEx Select SHIB Trading Pair

#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
OKEx Enter Details For Trade

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‘.

KuCoin Select Deposit

You can use the dropdown menu to select either BTC or USDT.

KuCoin Select BTC or USDT To Deposit

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

KuCoin Deposit USDT Address

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.

KuCoin Different Accounts

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

KuCoin Transfer USDT To 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.

KuCoin Access Spot

The exchange may seem to be rather overwhelming.

KuCoin Spot Trading Platform

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

KuCoin SHIB 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
KuCoin Buy SHIB From USDT

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:

FeeAmount
Trading FeesUp to 0.1%
SHIB Withdrawal Fee2,200,000 SHIB

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

Bitrue

Bitrue is an exchange platform that is based in the US, Europe and Asia Pacific.

Here’s how you can buy SHIB on Bitrue:

  1. Deposit USDT into Bitrue
  2. Select the SHIB/USDT trading pair
  3. Insert the details of the trade
  4. Execute the trade

#1 Deposit USDT into Bitrue

Bitrue does not support SGD, so you’ll need to deposit a cryptocurrency into the exchange.

You should be depositing USDT as SHIB/USDT is the only SHIB trading pair on Bitrue.

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

Bitrue Deposit Crypto

and then select the currency you wish to deposit in.

Bitrue Deposit USDT

You will be given a deposit address to send your crypto to.

Bitrue Deposit USDT Address

You can choose to deposit USDT via 3 different networks:

  1. OMNI
  2. ERC-20
  3. TRC-20

You may want to double check the network that your original platform supports. It should most likely be ERC-20, but it’d be good for you to check again!

#2 Select the SHIB/USDT trading pair

Once you’ve deposited your crypto into Bitrue, you’ll need to go to Exchange,

Bitrue Exchange Tab

which will bring you to the trading platform.

Bitrue Trading Platform

You will need to select the SHIB trading pair with USDT.

#3 Insert the details of the trade

You are able to make 3 different order types on Bitrue:

  1. Limit
  2. Market
  3. Trigger Order
Bitrue Buy SHIB From USDT

You’ll also need to select:

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

#4 Execute the trade

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

Verdict

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

FeeAmount
Trading Fees0.28%
SHIB Withdrawal Fee1,000,000 SHIB

Bitrue’s trading and withdrawal fees are slightly higher compared to Huobi or OKEx.

I would still prefer to buy SHIB from those platforms first, before using Bitrue!

Conclusion

Since SHIB is still quite a new cryptocurrency, there are not many platforms that allow you to buy this token.

The most straightforward way would be to buy SHIB on the Crypto.com App or AAX using 2 trades.

If you prefer to trade USDT, then you can consider the remaining 4 platforms!

👉🏻 Referral Deals

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

Crypto.com Referral (Get $25 USD worth of CRO)

If you are interested in signing up for Crypto.com, you can use my referral link and enter the code ‘x2kfzusxq6‘.

We will both receive $25 USD worth of CRO in our Crypto Wallet.

Crypto.com Referral

Here’s what you’ll need to do:

  1. Sign up for a Crypto.com account
  2. Enter my referral code: ‘x2kfzusxq6
  3. Stake enough CRO to unlock a Ruby Steel card or higher

The amount of CRO that you need to stake depends on the card you wish to get, and the currency you are staking in.

You can read more about the referral program on Crypto.com’s website.

Crypto.com Exchange Referral (Earn $10 USD- $50 USD in CRO)

If you are interested in creating a Crypto.com Exchange account, you can use my referral link and enter the code “x2kfzusxq6“.

Depending on the amount of CRO you stake on the Crypto.com Exchange, you are able to earn between USD $10 to USD $50!

Crypto.com Exchange Referral

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

If you’ve already signed up for the Crypto.com app, you can still sign up for this bonus! This is because the Crypto.com App and Exchange are 2 different platforms.

You can read more about this referral program on Crypto.com’s website.

Binance Referral (Receive 5% off your trading fees)

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

You will be able to receive 5% off all of your trading fees on Binance!

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.

OKEx Credit Card Payment Providers

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


undraw pcsocial 16rw

Do you like the content on this blog?

To receive the latest updates from my blog and personal finance in general, you can follow me on Telegram and Facebook.

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

You Might Also Like

    Total
    0
    Share