Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
How to buy, sell and trade Peercoin (PPC)
What Peercoin is about and where to buy, sell and trade it
Peercoin (PPC) is a cryptocurrency designed for transactions and for holding value, with a focus on economic sustainability, stability and easy adoption by users and merchants.
Its most distinctive feature is that it uses both proof-of-stake and proof-of-work mining and is strongly focused on ease of use, stable prices and economic sustainability.
Where to buy, sell and trade PPC
Step-by-step guide to buying and selling PPC
Buy with fiat or crypto
You can buy PPC with cryptocurrency or with fiat currency such as USD.
To buy with fiat currency, you need to do the following:
- Create an account on your chosen exchange.
- Verify your identity at that exchange. This usually involves confirming your identity by sending in a photo of your driver’s license and other proof.
- Deposit money into the exchange. You can do this with a bank transfer, a credit card, a wire transfer or some other method depending on the exchange.
- Buy a leading cryptocurrency like bitcoin (BTC) or Ethereum (ETH).
- Transfer that to an exchange that lists PPC.
- Purchase PPC with the cryptocurrency.
At this point, your PPC will either be deposited into your account on the exchange for withdrawal at your leisure or deposited directly to the wallet address you’ve provided.
Buy with crypto only
To buy PPC, you will first need to buy BTC, ETH or some other cryptocurrency and then trade that for PPC at an exchange. The coins accepted may vary, depending on the exchange.
If you already have some cryptocurrency, you’ll need to create an account on the exchange you want to use to buy PPC, then send your coins from your wallet to that exchange. At this point, you can trade them for PPC.
Your PPC will either be deposited to your account on the exchange or sent directly to the wallet address specified.
How to sell Peercoin (PPC)
To sell PPC, the process is almost exactly the same as the step-by-step guide above, except in reverse.
You put the coin up on an accepted exchange and sell it for another cryptocurrency, depending on the available pairings.
How does Peercoin work?
Peercoin was the first cryptocurrency to introduce the now common proof-of-stake mining system.
- Peercoin proof of stake. Stakers can earn 1% per year simply by holding coins that are at least 30 days old in the official Peercoin wallet.
- Peercoin mining. To give the network more power, miners can also contribute processing power to network security.
The earnings from proof of stake are fixed, whereas the mining earnings are being reduced over time, but they are still higher than the earning from staking. Overall, Peercoin has average inflation under 5% per year, but this at the end of 2017, this was starting to decrease.
Peercoin is specifically designed to be used as a currency and to be accepted in stores. Peercoin transfers come with a nominal transaction fee of 0.01 PPC on the sender side.
To help payments arrive almost instantly, transactions are verified by a block explorer ahead of the transaction itself.
The circulating PPC supply is around 25 million. While there’s no cap on the total number, its inflation is tightly controlled.
What to consider if buying Peercoin
Peercoin was established in 2012, making it a veteran by cryptocurrency standards. Its proof-of-stake system has since become a ubiquitous feature of cryptocurrencies, and great care seems to have been taken in economic and technical aspects of Peercoin’s development.
Its design is largely focused on recognizing the shortcomings of bitcoin and then taking steps to correct them.
For example, one of the main reasons behind the creation of the first proof-of-stake mining system was the recognition that bitcoin would consume exorbitant amounts of energy if it ever got big enough, that it would face slow transactions and high fees, and that its volatility would make it hard to use as a real currency.
Peercoin set out to tackle these problems years ago.
It also anticipated the problems of pre-mines and unfair token distribution, and it set out to create an egalitarian economy with no pre-mines and fair initial distribution.
For a coin like Peercoin, which doesn’t have any inherent features or purpose other than being used as a currency, deliberate price manipulation has historically been one of the more reliable ways to add value.
Buyers should consider that without a lot of money to artificially pump up the price of Peercoin or an extremely large wave of hype to do the same, it’s possible that Peercoin might stay in the shallow end of cryptocurrency market caps. Although it’s a veteran in the cryptocurrency world, questions need to be asked about whether it’s missed the boat by now.
Today, Peercoin is competing with coins such as Nano (formerly RaiBlocks) that offer instant transactions and zero fees, as well as others that aim to do the same while simultaneously offering a range of useful built-in features.
Peercoin’s price hit an all-time high of around $10 on January 13, 2018, but then fell to under $5 on January 16. This decline dropped its market cap from around $240 million to $120 million.
Whether it re-achieves or tops its previous all-time high may be largely dependent on whether it can pull enough interest back. Buyers need to think about whether this might be less likely than a year ago. Peercoin’s relatively high price per coin now means there might be more tempting options elsewhere.
Keeping in mind the speculative nature of all cryptocurrencies, you should always take care to do your own research and make sure you fully understand the risks involved before buying Peercoin or any other crypto.
More guides on Finder
Ethereum users are leaving DeFi for NFTs and gaming, says expert
Despite the successful implementation of EIP 1559, Ethereum has failed to garner any tangible financial momentum in recent weeks.
Axie Infinity guide: How to play and earn
Axie Infinity is an RPG game that is currently dominating the NFT sector. Discover what Axies are, what makes them unique and how you can earn money simply by playing.
How to buy Bitcoin (BTC) in the US
Want to buy bitcoin but don’t know where to start? This comprehensive guide provides step-by-step instructions on how and where to buy BTC in the US.
China’s aggression to Bitcoin has led to its worst month in years
As mainstream institutions continue to offload BTC, fears regarding the currency’s future continue to loom large on the horizon.
Coinbase vs Robinhood
Discover which exchange is better suited to cryptocurrency trading after comparing things like fees, security and features.
Investing strategies: How buy and hold can beat trading
The buy-and-hold strategy consists of buying an asset and holding it for a long term.
Ether mounts minor comeback with weekly gains of 10%
Ether is currently showcasing year-to-date profits of nearly 400%.
Cryptocurrency predictions, altcoins and events to watch in June 2021
Experts highlight the most significant events that are likely to impact the cryptocurrency markets in June 2021.
Ethereum price plummets as heavy marketwide correction is witnessed
Despite ongoing dips throughout the cryptocurrency market, ETH is still showcasing weekly gains of over 20%.
Bitcoin price stabilizes as altcoins take the lead
BTC’s market dominance index — which calculates Bitcoin’s market share among proof of work coins — has also continued to slide since the start of 2021.
Ask an Expert