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How to buy Peercoin online
Within the crypto investing community, Peercoin (PPC) is a popular digital asset. On this page, we run through the credentials of it as an investment and explain the different ways you can invest. Scroll down to get started.
Compare where to buy Peercoin, and open an account
For those of you trying to find the best places to buy Peercoin online, we can help. Check out the table below for a list of our recommended partners and click on any of them to find out more. Otherwise, read on to delve into the Peercoin value proposition.
How to buy Peercoin online – a step-by-step guide
Step 1. Find an exchange
The easiest and simplest way to purchase PPC outright is through a cryptocurrency exchange. They are like giant marketplaces for cryptocurrencies and they offer low fees with high security. We have broken down each step of this process so you have a thorough guide that can lead you towards investing success.
Finding the best exchange can take plenty of time and research, so to save you the hassle, we have listed the two of the best options below along with a brief description of what they have to offer:
- Binance: The most popular exchange around, Binance has proven itself to be a reliable and highly accessible platform over the year. It supports numerous cryptos and has a dedicated customer support team to look after you. Create your Binance account now >
- KuCoin: In recent years, KuCoin has established itself as one of the most popular exchanges for fresh and seasoned investors alike. With a wide selection of cryptos and analytical tools, it is a good option for all. Open a KuCoin account today >
Step 2. Sign up and fund your account
The next step is an easy one. To sign up with your chosen exchange, simply fill out the details that are requested as part of the account creation process and provide a copy of your photo ID if it is required. Then, you can fund your account with whatever source is accepted. In some instances, this may be fiat money like GBP, USD or EUR, and in other cases, it will be cryptocurrency like Bitcoin.
Step 3. Purchase
Now, your account is primed and ready to purchase Peercoin. Do this by searching for PPC in the interface of your exchange. You then want to make sure that you pick the relevant pair for your account; so, if it is funded with USD, look for the PPC/USD pair, and for Bitcoin, the PPC/BTC pair. Finally, enter the number of PPC coins to want, check you are happy with the price and fees, and execute the transaction.
Step 4. (Optional) Get a suitable wallet
When storing coins for the long term, their security is of paramount importance; after all, how can you feel comfortable with your investment if it is at risk? While you can leave your funds in an exchange account, the only way of having full peace of mind is by using a crypto wallet. These come in physical and digital form and provide a layer of encryption to protect your funds from theft and destruction. Here are our two favourite Peercoin wallets right now:
- Ledger Nano S: One of the most popular hardware wallets on the market, the Ledger Nano S is a hardware wallet that is reasonably priced and highly reliable. Get a Ledger Nano S today >
- CoolWallet: CoolWallet support a wide variety of cryptos and is competitively priced, though what really sets it apart is the CoolWallet app, which allows you to access your funds that are stored in a physical wallet via your mobile device. Open a CoolWallet today >
How to trade Peercoin – a step-by-step guide
The most effective way to trade cryptocurrencies like PPC is by signing up to a crypto broker and depositing funds into your account. Brokers are online services that allow you to quickly open and close positions to take advantage of market volatility. Not all brokers have the same benefits, so to save you from having to search the entire market, we have outlined our top picks below:
- eToro: With a huge number of supported assets and some of the lowest fees available from a major broker, eToro is a popular choice for crypto investors regardless of their previous experience. Open your eToro account now >
- Capital.com: With a wide variety of cryptos on offer and a growing comminity, Capital.com is a popular broker that offers an AI trading assistant to bolster your trading aptitude. Create your Capital.com account today >
Step 2. Deposit money
When you’ve chosen a broker, you’ll want to deposit some cash, so you’ve got something to trade with. Most brokers have a minimum deposit; eToro and Capital.com have a minimum deposit amount of $200 and $20 respectively. You can add these funds to your account through a bank transfer, or you can opt to use another supported payment method like PayPal.
Step 3. Learn how to perform technical analysis
Before you get stuck into trading, you need to master technical analysis. This is the process of reading charts and reviewing the market to identify trends and patterns so you can make informed decisions. Our short-term trading course runs through this in detail, and we highly recommend working your way through each lesson before putting any capital on the line.
Step 4. Start trading
Brokers usually offer a demo account so traders can get to grips with the platform and build an understanding of how everything works, without risking any money. When you’re happy to open a live account, you can start trading for real, but remember, cryptocurrencies can fluctuate wildly and it’s easy to win or lose money very quickly.
Whichever method you choose, you’ll need to take a position on whether you think your chosen cryptocurrency will increase or decrease in value. If you think it will increase you take a long (buy) position and if you think it will decrease you take a short (sell) position.
As a trader, you can take advantage of leveraged trading, which enables you to significantly inflate the size of your trade. With leveraged trading, the broker essentially loans you money, so you need only put up a percentage of the total value of the trade. If this sounds risky to you, you’re right. The rewards can be huge, but the losses can be devastating if you’re not careful, especially if you don’t use a stop-loss order to limit your potential losses.
Should I invest in Peercoin?
The key factor you need to take into account when answering this question is the overall health of the crypto market. If prices are on the up across the board, an altcoin like Peercoin is likely to rise in value. However, if prices are tailing off, expect Peercoin to follow a similar trajectory.
You wouldn’t invest in a company without researching it, and the exact same is true of cryptocurrencies. Therefore, you should only invest in Peercoin if you have a full understanding of the project and have conducted due diligence. This fundamental analysis will allow you to understand the true value of the project and adjust your investment decisions as a result.
Finally, you should only put money on the line if you can afford to lose it. Some reckless investors who have risked important money have lived to regret the consequences, and the same could be true for you if you use anything other than disposable income to bankroll your trades.
- Environmentally friendly and sustainable
- Proof-of-stake requires less energy
- Despite being an inflationary coin, Peercoin might be a solid choice for investors playing the long game
- More decentralised than some other cryptocurrencies
Below, we have outlined several final questions that need to be answered before investing in Peercoin.
1. Is now a good time to buy Peercoin?
This answer has been separated into two parts. First, for long-term investors who believe in Peercoin’s technical credentials and the crypto macro thematic, its environmentally-friendly stance could reap rewards in the future due to mounting pressure on crypto by environmentalists. Essentially, if you think Peercoin has a significant role to play in the future of finance, it is rarely a bad time to get PPC coins and hold onto them.
Second, for short-term traders, the fundamentals of the Peercoin project are a less pressing concern. Instead, you need to hone in on the technical analysis that can tell you whether the price of Peercoin is due to go up or down. Using the indicators and trends you identify, you will be able to plan entries and exits more effectively.
Regardless of the route that you choose to pursue, our selected analysis below can help bolster your investing knowledge and give you an insight into Peercoin’s recent performance:
Up or down? Peercoin (PPC) price prediction for March
Peercoin (PPC) price could explode again. Here’s Why
2. What problem does Peercoin solve, and what are its investment prospects?
It uses a proof-of-stake (PoS) consensus mechanism rather than Bitcoin’s proof-of-work (PoW), which consumes considerably less energy because it doesn’t require mining in the traditional sense. As we move towards a greener, more environmentally conscious society, this trait could be crucial in attracting institutional investment and mainstream approval.
However, there are now plenty of coins using PoS, and Peercoin has largely faded into the background in recent years. Quite whether it can recapture the attention of the community remains to be seen.
For more on PPC and the market it inhabits, check out the latest news in the section below:
Is Peercoin (PPC) a buy or sell in June?
3. Do you want to hold Peercoin for the long term?
You can go about investing in PPC tokens in two distinctly different fashions: purchasing coins from an exchange and holding them in a wallet to bet on their future value, or trading them via a broker to take advantage of price swings. Below, we have outlined the key things you need to think about when pursuing either strategy.
Considerations for a long term investment strategy
For long-term investors, finding a reliable exchange with good customer support should be at the top of your list of priorities. Then, it may pay to locate a secure wallet that can keep your PPC secure in the long run.
Considerations for a short term trading strategy
Short-term traders instead need to find a low-fee broker that can accomplish your trades efficiently without draining your funds via fees. Then, you should consider what kind of trader you are and what facets of technical analysis you want to prioritise.
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