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In this comprehensive guide, we’ll explain how to buy Pepe Coin, from picking the best crypto exchange to monitoring the performance of your investment.
- Step 1: Create an account crypto exchange (like Binance or OKX)
- Step 2: Fund your account (either via card, bank transfer, or crypto)
- Step 3: Pick the right trading pair
- Step 4: Place your buy order for Pepe Coin
By following through on these steps, you can set yourself to buy this coin with confidence, whether you’re a newcomer or an experienced investor.
Pepe Coin ($PEPE) is a popular meme coin that has become one of the highly traded cryptocurrencies after its launch in April 2023.
In fact, it reached $1 billion in market capitalization within three weeks, and its price surged by 430,900%! Pepe now competes directly with prominent meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB).
As a novice crypto enthusiast, you might wonder how to buy Pepe Coin (PEPE). Fortunately, it’s not rocket science. Just pick a crypto exchange, create an account with it, fund it, and make a purchase. It’s that easy!
We’ll also research the concept and price performance of Pepe Coin and explore crypto storage options. With this knowledge, you’ll be all set to buy, hold, and trade Pepe Coin with confidence.
Understand PEPE Coin
The Pepe coin is built on the Ethereum blockchain and is based on the popular meme character called ‘Pepe the Frog.’ The relevance of the meme is a key factor in the coin’s uniqueness and virality.
Pepe coin has been able to make significant gains within a short period. For instance, a trader named dimethyltryptamine.eth spent $263 to buy Pepe tokens, which turned into $3.8 million in profits.
At the same time, it’s also important to understand that the official website of Pepe coin mentions that this meme coin is only for entertainment purposes without any intrinsic value.
Therefore, expect a lot of volatility, with social media playing a key role in how the token prices move forward, as with many meme coins.
Choose a Crypto Exchange to Buy Pepe Coin
Depending on your specific needs, choosing the right Crypto exchange is crucial. The assessment factors include security, liquidity, fees, user-friendliness, and reputation.
On Binance, Pepe Coin (PEPE) is available for spot trading with the following pairs: PEPE/USDT, PEPE/TUSD, and PEPE/TRY.
- 0.1 – 0.5%
Binance, a leading global crypto exchange, offers a user-friendly interface and low fees for trading a diverse range of coins. Accessible to both institutional and individual investors, it supports advanced trading services, although U.S. options are somewhat limited.
Industry's lowest trading fees.
Advance trading options like leverage.
350+ trading options, 150+ for theUS.
Lucrative on-site staking options.
Hiccups in account verification.
Less regulated than some competitors.
The corporate structure is not transparently.
Except for Binance, here are some other popular crypto exchanges to buy Pepe Coin.
- eToro is a great option for beginners, with its demo account providing the option for a virtual portfolio. Yet, the fees are higher, with a flat 1% fee for crypto purchases.
- Kraken has established itself since launching in 2011 as an exchange known for its reliable security. It is a good option for crypto investors looking to buy and hold. But the fees may add up if you are looking to trade frequently.
- OKX has advanced features such as trading with customizable trading bots and staking with proof-of-stake cryptos. However, it isn’t available in some key countries, including the U.S.
- CoinEx also offers low fees along with a user-friendly interface suitable for both beginners and experienced investors. It still needs to improve the range of options for withdrawal.
- Gate.io is an established crypto exchange where experienced traders buy less-known cryptos, with more than 1300 options available. One drawback is its high deposit fees.
Let’s break down the process of buying Pepe Coin on Binance.
Step 1: Create an account on Binance
Register your Binance account via the website or in the Binance app. You can sign up with either email or phone number or with Google or Apple ID.
The most important part of this phase is to complete your KYC, after which you can start to trade. This is a common process that other crypto exchanges also require to maintain security and trust within the platform.
Step 2: Fund your account
Once you have your account set up, fund it using one of the 3 available ways.
1. Deposit Crypto
If you already have some crypto assets in any external storage, you can transfer these funds to your Binance account. First, click the [Deposit] button:
Next, select [Deposit Crypto]:
Then, choose the cryptocurrency you need to transfer, specify the correct network, and copy the deposit address where you will send your crypto funds.
2. Cash In
If you don’t own any crypto assets yet, you can select the [Cash In] funding method.
Specify the amount of fiat currency you are willing to spend or the amount of crypto you want to receive, and hit the [Buy] button.
3. Bank Deposit
Alternatively, you can select the [Bank Deposit] method to top up your Binance wallet from your bank account.
At the time of writing, payments in U.S. dollars via credit cards are suspended.
There are also third-party payment channels, including Simplex, GEO Pay, and Truelayer. The full list can be found here.
Step 3: Pick the Right Trading Pair
Now that you have funds in your Binance wallet, head down to the [Trade] section in the top navigation menu and select [Spot].
Depending on the cryptocurrency you’ve deposited in the previous step, choose the right crypto trading pair.
If you have USDT in your Binance account, you will want to go for the PEPE/USDT crypto pair.
Step 4: Place Your Buy Order for Pepe Coin
Now, how to buy Pepe Coin through spot trading? When placing your buy order, you’ll need to choose between Market and Limit orders:
- Market Order: Use this option for quick execution without specifying a price. Your order will be filled at the best rate, suitable for high-volume and liquid cryptos.
- Limit Order: Specify your buying or selling price, and the order remains open until it’s met or canceled.
Decide where to store your Pepe Coin
A common mistake among new crypto investors is to store their crypto on an exchange itself. The fact that investigators found $8.9 billion of customer assets missing on the FTX platform demonstrates the need for storing crypto more safely.
The best option is to use a cryptocurrency wallet. There are mainly two types of crypto wallets to be aware of:
Crypto Hardware Wallets (Cold Wallets)
Hardware Wallets are external devices you must purchase to secure your crypto keys offline. Their cybersecurity is much safer than digital wallets, though there is a risk of losing the device.
Hardware wallet made by Ledger offers multicurrency wallets that store private keys for cryptocurrencies offline.
Ledger Nano S Plus is a fortress-like protection for your digital wealth, sporting an affordable price point. This crypto wallet supports many cryptocurrencies and blockchain networks, making them easily managed via the reputable Ledger Live app. Despite its significant advantages, some users have noted the lack of storage capacity.
Support for up to 5,500 cryptocurrencies.
Private keys are always offline.
Integration with other hot wallets.
Support for staking.
High fees for Ledger Live crypto purchases.
Limited app space.
The Ledger Nano X is a must-have, secure hardware wallet for cryptocurrency. It features easy mobile pairing, a sleek design, Bluetooth support, and robust security features like a safe chip and two-factor authentication.
Supports 5500 various cryptocurrencies.
Private keys are encrypted.
Desktop and mobile devices are supported.
Allow 100 apps storage.
Fairly overpriced against the competition.
Only 100 apps are allowed.
Bluetooth works solely with mobile.
Software Wallets (Hot Wallets/Digital Wallets)
Software wallets, being internet-connected and typically free, offer convenience, especially for active traders. However, they have a higher vulnerability to hacking.
Metamask is a recommended software wallet in the crypto market for storing meme tokens due to its extensive support for Ethereum-based cryptocurrencies and user-friendly setup, making it a go-to Web3 wallet
Stay updated on Pepe Coin developments
It is essential to understand that the nature of meme coins is highly volatile since people understand that it is mostly for entertainment purposes and lack intrinsic value.
Hence, any external news, new developments, or even a viral social media post can affect the price of Pepe coin.
For instance, on Oct 26, 2023, the market cap of Pepe coin had doubled to $500 million compared to the previous week because of rumors that a Blackrock Bitcoin ETF would soon be approved in the U.S.
Some strategies to stay updated on Pepe coin developments include:
- Regularly checking credible crypto news sources and websites about market trends and regulatory changes.
- Being a part of online communities centered around cryptocurrency. Plus, it’s a good idea to join Discord communities full of investors specific to Pepe coin.
- Taking online courses and webinars to gain a holistic view of how the overall industry is moving forward
- Enable Crypto Alerts for Pepe coin for price dips or significant price increases.
Overall, we have highlighted how to buy Pepe Coin on Binance. The Pepe coin provides an opportunity for real gains, but it has risks associated with it, too, since it is a meme coin, after all.
The fact that investors and traders see meme coins as a viable opportunity to profit has enabled new coins, such as Pepe coin, to gain the trust of investors all around the globe.
It depends on various factors. Look into the coin's fundamentals like team experience, roadmap, and value proposition. Assess its community engagement, price history, the competitive scene of Meme tokens, and regulatory changes in the crypto market before deciding.
Investment strategies vary. Buy if you're comfortable with the risk and see high return potential. Consider holding if future benefits seem likely. However, if you've hit your profit target or the price seems inflated, selling might be wise.
Dogecoin and Shiba Inu coin are top alternatives. Dogecoin gained popularity with endorsements from influencers like Elon Musk. Shiba Inu, newer by seven years, trails Dogecoin closely in popularity.
The Pepe the Frog meme resonated with many, and those who missed the boom of coins like Dogecoin and Shiba Inu saw Pepe Coin as a new opportunity, leading to its rapid social media-driven growth.
Many exchanges set a minimum buy order of $10. If unsure about a larger investment, starting with this amount can be a prudent choice.