How to Buy Shiba Inu on Poloniex

How to Buy Shiba Inu on Poloniex

Here is a simple four-step guide on how to buy Shiba Inu on Poloniex. However, this exchange has been through some tough times. Unfortunately, we don’t recommend you use Poloniex for trading, as many users report locked accounts and frozen funds.

A Step-By-Step Guide on How to Buy Shiba Inu on Poloniex

1. Register an Account

If you don’t already have a Poloniex account, go to the exchange website and register an account.

Use a valid email at registration. Poloniex will send an account activation code to your email address. Use the code to log in to your account.

2. Verify Your Account

You don’t have to verify your identity on Poloniex to purchase SHIB. 

Please keep in mind that while level 2 verification allows you to increase your daily withdrawal limits, many customers have complained that they were unable to withdraw funds from the exchange.

If you want to go ahead, select the profile icon (top-right) and click on “Profile.” You will be level 1 verified when you first sign in. Click the “Get Started” button in the limit and features box to increase your verification status.

Enter the relevant information and upload a copy of your official ID.

3. Buy Crypto

Select the “Buy Crypto” tab. You will be redirected to Poloniex “Easy Buy,” where you can purchase select coins through third-party payment providers like Simplex and Mercuryo.

Poloniex doesn’t allow you to buy SHIB through “Easy Buy.” You must first buy a stablecoin like USDC or USDT and trade it for Shiba Inu.

Select the coin you want to buy and enter how much you want to spend. There is usually a minimum buying limit between 20-30 USD.

Select the payment method and click “Submit.” A new window will pop up so you can confirm your order details and verify your Simplex or Mercuryo account.

4. Trade USDT for SHIB

Once you purchase USDT or USDC, you can trade it with Shiba Inu on the Poloniex spot market. Select the Trade” tab and click “Spot Trade” in the dropdown menu.

Spot trade is set to BTC/USDT by default. Click the arrow next to “BTC/USDT” pairing to see all other available pairings and search for SHIB/USDT.

You will see the BUY SHIB button on the right. In that Buy/Sell box, enter the amount of Shiba Inu you want to buy and click Buy SHIB.

And that’s how to buy Shiba Inu on Poloniex.

You may also want to check out our exchange reviews and other how-to-buy guides.