How to buy BitShiba (SHIBA) securely

Step by step

Let’s see in detail how you can buy BitShiba. The first thing we are going to do is to log in Binance, if you don’t have an account you can create one here. With your account, you must make a deposit to have funds and be able to buy BNB. You can deposit funds with your credit card, to have the balance directly and without having to wait or bank transfer, although it will take a few days to be able to use it. 

With your first deposit, whether it is euros, dollars or another currency, you must go to markets, and look for your currency with respect to Binance coin (BNB). In my case, EUR/BNB. Here go to the red sell button, and exchange your currency, in my case euros, for BNB. We use BNB because the commissions on the Binance network are paid with this cryptocurrency, as happens with the Ethereum network with ETH. You can also buy USDT (Tether), but you should always have a small amount of BNB in your metamask wallet to pay for commissions, less than $1. With 10-15$ of BNB is enough for several transactions and not run out of BNB.

Once you have BNB, you must click on the cryptocurrency, and click on withdraw. Go to your metamask, and click on the address, you will see that an address is copied when you click on it. You must enter this address in Binance to withdraw your BNB from Binance to Metmask. It is very important to enter the BEP20 network, and the amount you want to withdraw. The commission is $0.80. Confirm that the information is correct and confirm the transaction with the codes. 

Open your metamask wallet, and if you have the Binance network configured, the amount of BNB you have transferred should appear in a few minutes. If you don’t have the Binance network configured, I recommend you look up how to configure the Binance smart chain network in Metamask, so you can use it, without it, you won’t be able to buy BitShiba. It is very simple and you will only have to copy the parameters it tells you. 

With this done, we must go to pancakeswap. Here in from, we indicate BNB and to, the BitShiba token. If you look for it, you will not find it. In order to use it, you must copy the address of the contract and paste it. You can search for it in coingecko to see it, or you can copy it just below:

0xB84cBbF09b3Ed388a45cD875ebba41a20365e6e7

With this, the BitShiba token should appear in order to be able to exchange.

Before clicking on swap, you are going to have to go to the settings wheel, Slippage tolerance and set 12%. This is because this cryptocurrency charges a 10% commission, 5% is burned and 5% goes to people who hold BitShiba. So if you buy BitShiba, you’re going to see the amount you have increase just by having it in metamask.

With the 12% marked, just click on swap, and confirm in your metamask the transaction.

In case you can’t make the transaction and you get an error in pancakeswap, go up the slpping tolerance 1% each time until you can make the transaction. Due to volatility and liquidity, sometimes you have to raise the slipping tolerance higher than usual for the transaction to go through.

Now, you can go to your metamask, and add the token with the contract that you can find in coingecko or just above BitShiba to see the amount of cryptocurrencies reflected in your wallet and their value in $. With this, you will be able to have BitShiba and accumulate this cryptocurrency without doing anything else but waiting. If you do not have an account with binance, you can create one just below to follow the steps we have seen.