A Beginner's Guide To Investing In Peercoin

Peercoin (PPC) is an alternative cryptocurrency that was launched in 2012. It was created by software developers Sunny King and Scott Nadal and was the first digital currency to use a combination of proof-of-stake (PoS) and proof-of-work (PoW) consensus algorithms. Like Bitcoin, Peercoin offers complete anonymity and can be sent over the internet without any central authority. In this article, we will discuss how to invest in Peercoin, including the different platforms you can use to purchase it and the steps you need to take to make your purchase.

How to buy Peercoin with a debit or credit card

There are several ways to buy Peercoin with a debit or credit card. Here is a step-by-step guide on how to do it:

• Set up a Peercoin wallet: Before making a purchase, set up a Peercoin wallet to store your coins.
• Choose a platform: Select a platform that supports direct purchases with a debit or credit card. Some popular options include The Rock Trading, AnycoinDirect, LiteBit, and Livecoin.net. These platforms primarily support European wire transfers and purchases. If you are in the US, you may need to use an exchange that accepts debit or credit card payments, such as Coinbase, Gemini, or OkCoin, to buy a cryptocurrency like Bitcoin and then transfer it to an exchange that lists Peercoin.
• Fund your account: Sign up and create an account on your chosen platform. Link your debit or credit card to your account and transfer funds. You may need to verify your account and provide personal information to meet know-your-customer (KYC) requirements.
• Buy Peercoin: Once your account is funded, you can purchase Peercoin. Select the amount you want to buy and choose the option to pay with a debit or credit card. Follow the instructions to complete the transaction.
• Store your Peercoin: After purchasing, you can store your Peercoin in a crypto wallet or on the exchange platform. If you choose to use a crypto wallet, there are two main types: hot wallets (online wallets connected to the internet) and cold wallets (offline hardware wallets).

It is important to note that the specific steps and requirements may vary depending on the platform you choose. Always do your research and carefully review the fees, security measures, and user reviews before selecting a platform.

How to buy Peercoin with cash

As of 2024, it is not possible to buy Peercoin directly with cash. However, there are several ways to indirectly purchase Peercoin with cash.

Firstly, you can use cash to buy Bitcoin or Ethereum, and then exchange those for Peercoin. To do this, you will need to find a person in your area selling Bitcoin or Ethereum who accepts cash payments. LocalBitcoins is a platform that can help you find such a seller. Once you have purchased Bitcoin or Ethereum, you can exchange it for Peercoin on a crypto exchange such as Gate.io, Kucoin, or The Rock Trading.

If you are based in the US, you can also use cash to buy ETH on Coinbase and then trade it for Peercoin within the Coinbase app. To do this, you will need to create a Coinbase account and verify your ID. You can then navigate to the "Trade" tab and select Peercoin from the list of assets. After entering the amount of ETH you wish to trade, you can preview and confirm your trade for Peercoin.

Another option is to use cash to fund a debit card, credit card, or bank account, which can then be used to purchase cryptocurrencies. For example, you can use a card payment or bank transfer to add funds to your account on a crypto platform such as Start Trading or Crypto.com. You can then use these funds to directly purchase Peercoin on the platform.

How to buy Peercoin with PayPal

Peercoin (PPC) is a digital currency that is an alternative to Bitcoin. It was launched in 2012 and was the first cryptocurrency to use a proof-of-stake system for processing transactions. This makes it a more energy-efficient method for securing the blockchain than Bitcoin's proof-of-work system.

Peercoin is available to buy on Coinbase, but only US customers can use PayPal to buy it or add US dollars. If you are a US customer, you can follow the steps below to buy Peercoin with PayPal:

Step 1: Create a Coinbase Account

Sign up and download the Coinbase app. You will need a valid ID and may be asked for proof of address, so have those ready. Verifying your ID may take longer than a few minutes, depending on where you live.

Step 2: Navigate to the "Trade" Tab

Please note that Trade on DEX is only available on the Coinbase app and is subject to your location.

Step 3: Select Peercoin from the List of Assets

Search for Peercoin by typing "Peercoin" into the search bar. When Peercoin appears in the results, click the 'Trade' button. A pop-up message will appear introducing you to the integrated DEX feature and your newly created web3 wallet, which you can use to execute the trade. Select "Continue" and "Let's go" to proceed.

Step 4: Enter the Amount of ETH you Wish to Trade

Use the number pad to input the amount of ETH you want to trade for Peercoin. If you do not currently have any ETH in your primary Coinbase account, you will be prompted to "buy ETH with cash" or to "receive ETH from another wallet".

Step 5: Preview Your Trade for Peercoin

Select "Preview DEX Trade" when you're ready. You will be shown the details of your purchase, including the payment method, exchange rate, fees charged by the Ethereum network to process your transaction, Coinbase fees, and the total cost of the transaction. Check that everything is correct, then select "Trade now" to confirm your trade.

Step 6: Complete Your Trade for Peercoin

Once you've completed the transfer, select "Return to DEX" to finish the trade. Once the transfer is complete, the DEX will ask you to approve spending your ETH in your web3 wallet. After approving, you can complete the trade for Peercoin by selecting "Trade now" on the final order preview page.

If you are not a US customer, you can still use PayPal to sell or cash out your Peercoin, but you will need to use a different platform to buy Peercoin. One option is to first buy Bitcoins with PayPal through VirWox and then convert these Bitcoins into Peercoins on the BTC-E exchange.

How to buy Peercoin with Bitcoin

To buy Peercoin with Bitcoin, you must first purchase Bitcoin. If you are in the US, you can use popular broker sites like Coinbase or Gemini, which offer fiat purchasing options for Bitcoin with bank wire options. OkCoin is another option, as it offers fiat deposits by wire to buy Bitcoin and other common coins. Once you have purchased Bitcoin, you can send those coins to your chosen exchange and make your purchase of Peercoin.

There are several exchanges that support trading between Bitcoin and Peercoin, including:

• Bittrex
• HitBTC
• Livecoin.net
• The Rock Trading

It is recommended to purchase Bitcoin as it has the most traded pairs for the exchanges that list Peercoin.

Before making a purchase, it is important to set up a Peercoin wallet so that you have a place to store your Peercoin.

How to buy Peercoin with Ethereum

To buy Peercoin with Ethereum, you can follow these steps:

Step 1: Set up a Coinbase Account

Sign up and download the Coinbase app. You will need a valid ID, and proof of address may also be required to transact, so have those documents ready. Verifying your ID can take longer than a few minutes, depending on where you live.

Step 2: Navigate to the "Trade" Tab

Please note that Trade on DEX is only available on the Coinbase app and is subject to your location.

Step 3: Select Peercoin from the List of Assets

Search for "Peercoin" in the search bar, and when it appears in the results, click the 'Trade' button. A pop-up message will appear introducing you to the integrated DEX feature and your newly created web3 wallet, which you can use to execute this trade. Select “Continue” and “Let’s go” to proceed.

Step 4: Enter the Amount of Ethereum (ETH) You Wish to Trade

Use the number pad to input the amount of ETH you want to trade for Peercoin.

Step 5: Preview Your Trade for Peercoin

Select “Preview DEX Trade” when ready. You will be shown the details of your purchase, including the payment method, exchange rate, fees charged by the Ethereum network to process your transaction, Coinbase fees, and the total cost of the transaction. Check that everything looks good, and then select “Trade now” to confirm your trade.

Step 6: Transfer ETH to Your Web3 Wallet

If you do not currently have any ETH in your primary Coinbase account, you will be prompted to “buy ETH with cash” or to “receive ETH from another wallet”. If you already have ETH in your wallet, you will be asked to transfer it from your primary wallet to your newly created web3 wallet. On the ‘Transfer Ethereum’ page, enter the amount of ETH you wish to transfer, and then select ‘Preview transfer’ to review the details before confirming with “Transfer now”.

Step 7: Complete Your Trade for Peercoin

Once you’ve completed the transfer, select “Return to DEX” to finalise your trade. The DEX will then ask you to approve spending your ETH in your web3 wallet. After approving, you can complete the trade for Peercoin by selecting “Trade now” on the final order preview page.

Other Options

If you are based in the US, you may also be able to buy Peercoin with Ethereum via an exchange such as Gate.io, Kucoin, FinexBox, FreiExchange, HitBTC, MEXC, or Xeggex.

Frequently asked questions