Learn how to trade Pepe Coin on one of the major centralized crypto exchanges in the world by using the order book and placing advanced orders.
Since its launch in April 2023, the $PEPE crypto token has taken the cryptocurrency world by storm. With its deflationary mechanism and redistribution system, PEPE Coin has quickly gained a large following despite its disclaimer that it’s intended for entertainment purposes only.
Pepe Coin ($PEPE) is a meme coin built on the Ethereum blockchain. It has gained popularity and quickly become one of the top 50 traded cryptocurrencies since its launch in 2023. Pepe Coin reached a market capitalization of $1 billion within three weeks of its launch.
Being a cryptocurrency means that this token(PEPE) is available on many exchanges all around the globe. Trading Pepe Coin, or buying and selling PEPE tokens is a logical next step if you want to start making money from this volatile asset.
Finally, by continuing to read this guide you’ll learn the following according to Pepe Coin:
- How To Spot Trade Pepe Coin on Kucoin(Step-by-step)
- How centralized cryptocurrency exchanges(CEX) work
- Learn to use the advanced trading orders
How Does Trading Pepe Coin(PEPE) Work?
Spot trading Pepe Coin is like buying and selling digital currencies. You can trade Bitcoin, Ethereum, and other cryptocurrencies. To start, sign up, and deposit funds on a centralized exchange(CEX). There are trading fees when you make trades, typically a small percentage of your transaction.
Now, about custodial wallets: All centralized exchanges(CEX) like Kucoin, provide a wallet for you to store your crypto. It’s very similar to a digital bank account. They manage security and private keys. However, it’s a custodial wallet, which means they have control over your funds. You can also use non-custodial wallets for more control.
Regarding costs, besides trading fees, be aware of withdrawal fees when moving your PEPE tokens out of the exchange. These fees vary by the type of cryptocurrency you’re moving.
In summary, to trade Pepe Coin on a CEX involves signing up, trading digital assets, paying trading and withdrawal fees, and using a custodial wallet. Consider using non-custodial wallets for added security and control over your funds. Start small, learn, and make informed trades.
The PEPE/USDT and PEPE/TUSD Trading Pairs
By far, the most popular Pepe Coin trading pairs are with Tether (USDT) and TUSD stablecoins. Additionally, the most popular exchanges to buy or sell PEPE are Binance and Kucoin. Below is a short summary of both crypto exchanges:
- Binance(The most popular platform and well-known cryptocurrency exchange globally)
- Kucoin(Another reputable cryptocurrency exchange with a mobile app, it allows Pepe Coin trading for US and EU residents)
So, if you are planning to trade Pepe Coin, then you will need to have some USDT or TUSD(Binance) in your exchange account to buy them. Deposit one of both stablecoins into your exchange account if you have not yet done so.
If you are selling Pepe Coin, then you will need to have some PEPE in your online trading account.
Once you are done with the registration and deposited your PEPE or USDT, you are ready to start trading PEPE. For the rest of the guide, I will be using PEPE/USDT in the examples.
Steps To Trade Pepe Coin on Kucoin Exchange
As explained earlier in this guide, using a CEX depends on your local situation where EU and US residents can’t use Binance(at the time of writing). As a result, I’ll be using the Kucoin exchange to guide you through the spot trading process for the PEPE/USDT pair.
Step 1: Open Spot Trading Screen
After you have logged in/signed up at Kucoin you have to navigate to the upper menu and click Trade and then the first item in the menu: Spot Trading. This will launch the Kucoin trading interface with the BTC/USDT as the default trading pair.
Step 2: Find PEPE/USDT Trading Pair
At this point, you have to click on the BTC/USDT up arrow and type the PEPE symbol in the new search screen.
Next, you only have to select the PEPE/USDT pair, click on it, and the chart will load:
Step 3: Place a Limit Buy Order
To indicate how to trade Pepe Coin on Kucoin, I’m going to place a limit buy order on the PEPE/USDT pair. Meaning, I’m going to add a new order to the exchange trading book(add liquidity). After this has been done, it’s just a matter of waiting before the order will be hit.
Overall, the spot trading process on Kucoin is very straightforward where you can use limit and market buy orders. On the flip side, you can also start selling the PEPE/USDT pair where you have to click the big SELL button. Also, remember that you have to pay fees for every single trade on Kucoin:
- Spot orders (Maker/Taker): 0.1%
- Futures(Maker/Taker): 0.02 / 0.06%
Understanding Pepe Coin Spot Trading Orders
To be able to understand Pepe Coin trading on Kucoin, you have to learn the concepts mentioned below:
- Market Depth: Market depth, often shown as a chart, displays the supply and demand for a particular cryptocurrency on KuCoin. It shows the number of buy orders (bids) and sell orders (asks) at various price levels. Deeper market depth indicates more liquidity and stability in the market.
- Order Book: The order book on KuCoin is a real-time list of all buy and sell orders for a specific cryptocurrency pair. The buy orders are listed on the left (bids), and the sell orders are on the right (asks). It helps traders see the current market sentiment and potential support and resistance levels.
- Open Orders: Open orders are the trades you’ve placed but haven’t been executed yet. For example, if you set a buy order at a specific price lower than the current market price, it’s an open order until the market reaches that price, and the trade executes.
- Stop Limit Orders: Stop limit orders on KuCoin are used to automate trading strategies. They consist of two parts: the “stop” price and the “limit” price. When the market reaches the stop price, the order becomes active, and a limit order is placed. It’s commonly used for managing risk. For instance, you can set a stop limit order to sell your crypto if its price falls below a certain point to limit potential losses.
In essence, these terms help you understand the dynamics of trading on KuCoin. The order book shows current demand and supply, open orders are your pending trades, and stop-limit orders automate your trading strategy based on predefined conditions. Understanding these concepts is crucial for effective trading on the platform.
Related: Is Pepe Coin legit? (4 Step Guide)
Conclusion: What Moves The Price of The PEPE Token?
In general, to trade Pepe Coin as a beginner in cryptocurrencies, it’s very reliable to use a more mainstream exchange like Binance or Kucoin. The sign-up process for both platforms is very straightforward and there is enough volume and liquidity in the order books to buy or sell PEPE tokens.
Finally, to explain what moves the price of the PEPE token, consider the following factors:
- Adoption and Usage: If more people and projects use the Pepe Coin network for transactions and decentralized finance, it can create demand for the PEPE token, potentially increasing its price.
- Market Sentiment: Like all cryptocurrencies, PEPE’s price can be driven by investor sentiment. Positive news, developments, and community support can boost confidence and attract buyers.
- Token Utility: The PEPE token may have specific uses within the Pepe Coin ecosystem, such as paying transaction fees or participating in governance. The more utility it has, the more valuable it can become.
- Competition: PEPE’s price may be influenced by how it compares to other similar projects and trending meme coins. Competition can affect demand and market perception.
- Overall Crypto Market: Cryptocurrency markets are interconnected. If the broader crypto market experiences bullish trends, it can positively impact PEPE and vice versa.
- Supply and Demand: The basic economic principle of supply and demand applies. If more people want to buy PEPE than sell it, the price goes up, and if more people want to sell than buy, the price goes down.
Can I Buy PEPE on Binance?
Yes, it’s possible to buy and sell PEPE on Binance. In addition, you can use the USDT and TUSD stablecoins to trade with(PEPE/USDT and PEPE/TUSD).
How Do You Trade Pepe Coin for Cash?
On major crypto exchanges like Binance or Kucoin, it’s very simple to convert your PEPE to USD or EUR. From here you can cash out and deposit funds to your bank account.
Where Can I Trade Pepe Coin?
As explained in this guide, you can trade Pepe Coin on Binance and Kucoin. Other popular exchanges like Coinbase, Kraken, ByBit, and Okex have added the PEPE token to their platforms.
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