How to Buy PENGU: Your Go-To Guide

If you’ve been a crypto enthusiast long enough, you’ll probably agree that crypto coins and cute animals are a match made in heaven. There’s no shortage of tokens inspired by dogs, cats, birds, pigs, and even snakes. Today, I’ve got something for penguin lovers: a handy guide on how to buy PENGU, the official token of the Pudgy Penguins ecosystem!

Originally an NFT collection, Pudgy Penguins has grown into a much more ambitious project. The launch of the PENGU token marks a new chapter for the ecosystem, with a goal to implement reward earnings for the NFT holders and reach the wider crypto community, as well.

Thanks to the developers’ efforts and the unstoppable force of Cuteness Overload, PENGU is now available on several major exchanges, including Binance, Bybit, and KuCoin. With these platforms, your PENGU tokens are just a few clicks away – let me show you how!

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Getting Started: The Best Exchanges to Buy PENGU

When I set out to write this guide on how to buy PENGU, the first question was inevitably – where to buy it from? While PENGU isn’t exactly on par with mainstream coins like Bitcoin or Ethereum when it comes to popularity, it’s already offered on enough exchanges that I had to do some research and narrow it down to a few select choices.

For the sake of simplicity, I’ve decided to go with centralized exchanges. These are the top picks I’m going to cover in this article:

• Binance. The number one biggest exchange platform by trading volume, Binance offers competitive fees, a large cryptocurrency selection, and advanced trading options like futures trading and P2P.
• Bybit. Bybit is known for its extensive Web3 ecosystem, multiple rewards and earning options, and robust security. With its clean interface and a choice of different trading options, it’s suitable for both beginners and advanced traders.
• KuCoin. Another A-list CEX, KuCoin supports over 700 cryptocurrencies, flexible earning options, and a wide range of payment methods. It has spot and margin trading, as well as trading bots.

I’m guessing you’re already familiar with at least some of these exchanges. If not, feel free to check them out and discover the best fit! Finding the right exchange can take your crypto trading experience to a whole new level.

📚 Read More: Best Cryptocurrency Exchange

How to Buy PENGU?

Now that I’ve laid out the best options before you, let’s cut to the chase and explore how to get PENGU on all 3 of the above-mentioned exchanges! The Buy option (buying the coin directly with your credit or debit card) is the most convenient one, but if you already have other assets in your account, you can also convert them to PENGU or buy PENGU on the spot trading market.

In this guide, I will walk you through all of these ways. The step-by-step guides will be aimed at desktop users – but if you prefer the mobile app, you can recreate those steps just as easily on your smartphone.

How to Buy PENGU on Binance

With 35 fiat currencies available, Binance is one of the best exchanges to buy PENGU using your credit or debit card. If you’d prefer not to add your bank details directly, no problem! Binance also supports Apple Pay and Google Pay. Here’s what you have to do:

Step 1: Log in to your account. If you haven’t signed up on Binance yet, you can learn how to do that here.

Step 2: Click [Buy Crypto] on the top menu bar.

Step 3: On the dropdown menu, select which fiat currency you want to buy PENGU with.

Step 4: Scroll down to find PENGU on the list or type it into the search bar.

Step 5: Enter the amount of fiat you want to spend or the amount of PENGU you wish to buy (If you’re paying in USD, the minimum amount you have to spend is $15).

Step 6: Select your payment method and click [Confirm].

Step 7: Click [Buy PENGU].

Step 8: Check if your order details are correct, then check the Terms of Use box and click [Confirm].

That’s it! It should only take a few seconds for your order to go through. If you want to see your tokens, go to your Dashboard and click [Assets] (the second item on the left-side menu).

If you're more of a swapping type of person, Binance has that option as well! Follow these steps to convert another cryptocurrency to PENGU (but first, make sure you have some tokens in your account):

Step 1: Hover over [Trade] on the top menu bar and click [Convert & Block Trade].

Step 2: Choose your preferred conversion type. Select [Instant] if you want an immediate one-off conversion at the current price, [Recurring] if you're trying to make several conversions at timed intervals, or [Limit] if you want the conversion to initiate once the asset reaches a certain price point (similar to how limit orders work in spot trading).

Step 3: On the “From” field, select the cryptocurrency you want to convert from.

Step 4: On the “To” field, scroll down to find PENGU on the list or type it into the search bar.

Step 5: Enter the amount you wish to convert (the minimum is 0.01) and click [Preview Conversion].

Step 6: Review the conversion details and click [Convert].

Here you go!

Finally, if you’re up for a riskier (yet potentially more rewarding) alternative of trying your hand at the spot trading market, Binance has five PENGU spot trading pairs available:

• PENGU/USDC
• PENGU/USDT
• PENGU/DUSD
• PENGU/BNB
• PENGU/TRY

Check if you have any of these assets in your account, and if you’re good to go, follow this detailed guide:

Step 1: Hover over [Trade] on the top menu bar and click [Spot] to access the spot trading platform.

Step 2: Type “PENGU” into the search bar on the right-side panel and pick one of the available trading pairs.

Step 3: Select your preferred order type: limit, market, or one of the stop orders.

Step 4: Type in the amount you want to pay for PENGU (or adjust the slider to select the percent of your total holdings) and click [Buy PENGU].

That’s it! You’ll find your order below under the “Order History” tab.

How to Buy PENGU on Bybit

Bybit boasts an extremely convenient and flexible direct buying option. You can pay with 60 different fiat currencies and pay with your credit/debit card, Apple Pay, Google Pay, or your balance account.

If you want to learn how to buy PENGU directly, here’s the list of instructions:

Step 1: Log in to your account or create a new one.

Step 2: Hover over [Buy Crypto] on the top menu bar and click [One-Click Buy].

Step 3: On the dropdown menu, pick the fiat currency you want to buy PENGU with.

Step 4: Scroll down to find PENGU on the list or type it into the search bar.

Step 5: Enter the amount of fiat you want to spend or the amount of PENGU you wish to buy. The minimum amount you have to spend is $5.

Step 6: Choose your payment method and then click [Buy With USD] (or the name of another fiat currency you’ve picked).

Step 7: Decide if you want to deposit those PENGU tokens into your Unified Trading account or Funding account. UTA is the general account that combines spot, futures, and options trading accounts, while the Funding account is the one you deposit into and withdraw from.

Step 8: Review your order details, check the Terms of Service box, and click [Confirm].

This is it! Your order will go through shortly – but if you’re impatient, you can check it immediately by hovering over your account icon and clicking [Assets] (the second item on the menu).

If you’d rather use another crypto to get PENGU, you’ll probably want to try conversion instead. The process is just as simple and easy:

Step 1: Hover over [Buy Crypto] on the top menu bar and click [Convert].

Step 2: Select which account (Funding or Unified Trading account) you want to use.

Step 3: On the “From” field, pick the asset you’re going to convert from.

Step 4: On the “To” field, type in “PENGU” or scroll down to find it on the list.

Step 5: Type in the amount you want to convert and click [Get a Quote].

Step 6: Review the conversion details and click [Confirm Transaction].

You’re all set!

Last but not least – the spot trading method. Bybit offers one spot trading pair for our token in question: PENGU/USDT, so make sure you have some USDT tokens in your account before attempting to buy PENGU on the spot trading market. Let me teach you how:

Step 1: Hover over [Trade] on the top menu bar and click [Spot].

Step 2: Type “PENGU” into the search bar to find the PENGU/USDT spot trading pair.

Step 3: Choose your order type and enter the amount of USDT you want to pay (or adjust the slider to indicate the percent of your USDT holdings).

Step 3: Click [Buy].

There you have it! Your order details will appear under the “Order History” tab soon.

How to Buy PENGU on KuCoin

KuCoin is another great alternative to use for buying PENGU. You can buy it directly with one of the 50 available fiat currencies. Without further ado, here’s the tutorial:

Step 1: Log in to your KuCoin account. If you haven’t signed up yet, here’s a getting-started guide to help you out.

Step 2: On your dashboard, click [Buy Crypto].

Step 3: Select the fiat currency you want to buy PENGU with.

Step 4: Scroll down to find PENGU on the list or type it into the search field.

Step 5: Specify the amount of fiat you want to pay (for USD, it has to be at least 10). You’ll see the corresponding amount of PENGU tokens you’ll get for that price below.

Step 6: On the “Pay With” dropdown menu, select your preferred payment method.

Step 7: Click [Buy PENGU] and follow the order confirmation instructions.

Once your payment is complete, you can see your PENGU tokens by clicking [Assets] on the top menu bar.

Alternatively, you can convert another crypto asset to PENGU. Here’s how:

Step 1: Hover over [Trade] on the top menu bar and click [Convert].

Step 2: Select a Market or Limit conversion and the account you want to draw from.

Step 3: On the “Pay” bar, pick the cryptocurrency you want to convert to PENGU.

Step 4: On the “Get” bar, scroll down to find PENGU on the list or type it into the search field.

Step 5: Enter the amount you want to pay (it has to be at least 0.1).

Step 6: Click [Convert to PENGU].

Step 7: Review the conversion details and click [Confirm].

Done!

If KuCoin is your exchange of choice, you have one more option: spot trading with the PENGU/USDT pair. You know the drill by now – but still, the interface differs slightly on every platform, so let me walk you through the process with this detailed guide.

Before you begin, make sure you have some USDT tokens in your Trading account. If all your USDT holdings are stored in the Funding account, transfer them to the Trading account. Once you’re ready, here’s how to buy PENGU on KuCoin’s spot trading market:

Step 1: Hover over [Trade] on the top menu bar and click [Spot Trading].

Step 2: Type “PENGU” into the search bar to find the PENGU/USDT trading pair.

Step 3: Select the order type and enter the amount of USDT you want to pay.

Step 4: Click [Buy PENGU].

All that’s left to do now is wait for your order to go through. Just like on the other two exchanges, you can see your order history below the market chart.

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Key Factors to Consider When Buying PENGU

Ready to get your hands on some PENGU? If so, hold on a second! There are still a few considerations left to think through. Just like any other type of investment, cryptocurrency shouldn’t be an impulse purchase.

While Binance, Bybit, and Coinbase are all legit and respectable options, if you’re still struggling to narrow it down to just one, here’s a handy checklist to help you find the perfect match for your needs:

• Regional Compatibility. Make sure the exchange operates in your country. Even if it does, some tokens may be restricted because of local regulations, so check if PENGU is available.
• Payment Options. Find out if the platform you’re considering supports your preferred method of payment, as well as your local currency, so that you won’t have to worry about conversion fees.
• Transaction Fees. Both conversion and spot trading have a transaction fee. These can sometimes be sneaky, so make sure to doublecheck your order details. The same asset can have slightly varying prices across different exchanges.
• Slippage. Prioritize an exchange with high liquidity for an asset you’re buying so that you don’t end up paying more for your trades than necessary due to high slippage.
• Security Measures. Choose an exchange with robust security. For centralized exchanges, that includes 2FA authentication, KYC, anti-phishing tools, and robust data encryption. Cold offline asset storage would be a bonus, too.
• Customer Support. See if the exchange has adequate customer support in case something goes wrong. One of the best ways to find out is by checking user reviews.

When you finally settle on the platform, it’s time for some big-picture reflection.

Here’s what you should take into account before taking the plunge:

• Market Volatility. The cryptocurrency market is famously volatile – prices can fluctuate drastically in any direction, especially with less mainstream tokens. Make your peace with the risk of unexpected losses.
• General Risk. Different crypto trading strategies have varying levels of risk. Define your risk tolerance level and pick your trading strategy accordingly.
• Trading Goals. As with everything else in life, setting specific and actionable goals is key to success! Think about your short-term and long–term goals and outline a plan. You could even start a crypto diary to keep track of your journey!
• Financial Reality Check. Take an honest look at your bank account and consider how much you can afford to invest right now, or if your financial situation is likely to change anytime soon.

That’s about it! If you’ve cleared these two lists, it’s time to get in the fray. As long as you heed the advice above and keep your expectations realistic, you’re good to go.

Best Crypto Wallets to Store PENGU

Even though this guide is all about how to buy PENGU, it never hurts to (re)consider your storage options. Choosing the right crypto wallet is no less important than choosing the right exchange!

Normally, I’d recommend a hardware wallet - those are hands down the safest choice. Unfortunately, PENGU is still relatively new enough that it’s not supported by top hardware wallets like Trezor or Ledger yet.

In that case, here are the top software wallets to trust your PENGU tokens with:

• Binance Wallet. This is the number one most convenient option as it’s built into the mobile app. Binance Wallet supports 34 networks and over 60 dApps. You can also buy and trade thousands of tokens directly on the wallet, including PENGU.
• Coinbase Wallet. While the Coinbase exchange doesn’t support buying or trading PENGU, the Coinbase Wallet does! It comes in a separate app for iOS and Android and has 100,000+ tokens and dApps, as well as NFTs and multi-wallet support.

If you decide to give either of these wallets a try, don’t forget to enable 2FA authentication, set up address whitelisting, and activate anti-phishing codes. When it comes to handling crypto, you can never be too careful!

Pudgy Penguins (PENGU): An Overview

With the tutorial part of this article out of the way, let’s take a closer look at this coin. You now know how to buy PENGU on Binance, Bybit, and KuCoin, but, deep down, you're probably still wondering – what’s in it for you? Is PENGU worth buying, or should you satisfy your cute animal token craving elsewhere?

What are Pudgy Penguins?

To understand what PENGU is, it’s best to start at the beginning - or, more specifically, the Pudgy Penguins ecosystem as a whole.

Launched in mid-2021, this NFT project contained 8,888 penguin-shaped digital collectibles. As is the case with non-fungible tokens^[1], no two penguins in the collection are the same – each is a unique piece of digital artwork with its own distinguishing details. As of 15 January, 2025, the Pudgy Penguins price is between 23.3 and 9,000 ETH (roughly $58,500 and $22.6 million at the time of writing).

As a neat bonus, buying a Pudgy Penguin also grants you IP rights to that specific penguin, meaning that you’re free to use it to create your own merch or even build a business around it!

Whether it was the vibrant community around the project, the adorable artwork, or simply a stroke of good luck (my money's on all of the above), soon enough, the penguins were flying off the figurative shelves at the speed of light despite the high prices. By December 2024, the entire collection had a market cap of roughly $1.19 billion.

The project’s success has inspired the team to branch out beyond the digital realm and launch a series of physical merchandise, too. Even those who don’t quite see the appeal of NFTs can now own these cute penguins in the much more tangible (and huggable!) form of plush toys and figurines.

This series, called Pudgy Toys, has now generated over $10 million in revenue, overtaking their NFT counterparts. The toys are even sold in major retail stores like Walmart and Target.

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What is the PENGU Token?

The PENGU token is one of the latest additions to the ever-expanding Pudgy Penguins ecosystem. It was launched on 17 December, 2024 and distributed through an airdrop. Interestingly, it wasn’t just the Pudgy Penguin NFT holders who were eligible – even non-holders who were previously involved in the NFT community could expect some bounty.

Even though the Pudgy Penguin NFTs run on an Ethereum smart contract, the PENGU token is built on the Solana network instead. If you're worrying about compatibility issues, though, the developers are already on it! They're working to expand PENGU to Ethereum and Abstract – an upcoming Layer-2 chain from Pudgy Penguins’ parent company, Igloo Inc.

PENGU has a total supply of 88,888,888,888 tokens. Take a look at its distribution:

As you can see, these tokenomics look pretty balanced and diversified, with a healthy amount of allocation to the community as well as development plants and sustainability measures.

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Is PENGU a Good Investment?

Speaking of sustainability – now’s the time to find out whether this token has what it takes to survive the unpredictable whims of the crypto market!

Now, if you already own a Pudgy Penguin, the question, “Is PENGU worth buying?” is probably a no-brainer. The developers have come up with various uses for this token:

• Governance: PENGU holders get voting rights on major decisions regarding the Pudgy Penguins project as a whole. If you’d love to have a say in where it’s going, this is your chance!
• Exclusive Perks: The PENGU token holders gain access to various exclusive events, merchandise, and other content.
• Rewards and Incentives: PENGU tokens can be exchanged for rewards, such as limited edition NFTs or merchandise.
• Payment Method: PENGU can be used as a currency within the Pudgy Penguins ecosystem.

And that’s just the beginning! The company has spoken of plans to collaborate with other NFT projects and develop blockchain-based games or even a whole metaverse with options to buy virtual land and other digital assets. If these ideas ever come to fruition, the PENGU token would gain a lot more use cases.

Let’s consider an alternative scenario, though. What if you’re not a Pudgy Penguin NFT owner? Should you still buy the PENGU crypto as a regular coin for the purpose of trading or holding on to it as a long-term investment?

To that end, we should take a peek at the Pudgy Penguins' price history. When it was released on 17 December, 2024, the PENGU crypto price immediately skyrocketed from the starting price of ~$0.011 to ~$0.054, marking a 376% gain. By the end of the day, however, it was already down to ~$0.031.

To be fair, this is pretty standard for tokens launched with airdrops^[2] – they rarely manage to maintain the momentum. There’s just too much temptation for the recipients to cash out early instead of holding on to their tokens.

To PENGU’s credit, though, it kept a relatively even trajectory for the next 20+ days, with some ups and downs but no wild swings. It reached the second-highest peak of ~$0.046 on 6 January, 2025. Following another correction, as of 15 January, it was back to ~$0.0031, which is still an almost 182% gain from the all-time low.

Let’s take a look at PENGU’s market capitalization next. The market cap followed a similar trend to the price history: after the peak of $3.5 billion upon launch, it crashed to $2.6 billion, and by 15 January, 2025, it was down to only $1.9 billion.

What do these numbers tell us about PENGU’s long-term prospects? As usual, it’s hard to draw any definitive conclusions from this – so let me highlight the risks again. New tokens can be incredibly volatile, and there’s no telling if PENGU’s fortunes won’t take a sharp turn as soon as next week.

That said, PENGU does seem to be holding up nicely so far, and the association with a high-revenue NFT project definitely gives it some extra oomph. So, if you’re up for giving this newcomer a chance and contributing to the ecosystem – feel free to go for it!

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Conclusions

Time to wrap up! If I did my job right, this article is the only guide you’ll ever need on how to buy PENGU on Binance, Bybit, and KuCoin. All of these top exchanges are safe enough and easy to use, so you shouldn’t have any trouble no matter which one you settle on.

There’s a lot to like about the PENGU token. It comes with a number of perks for the holders of Pudgy Penguins – if you already own said NFT collectible, you might as well consider it a package deal and get some PENGU to unlock access to their exclusive content and events.

Like I said, though, it’s hard to predict how this coin is going to fare in the long run, especially if the interest in NFTs wanes – so keep that in mind and don’t let the hype and FOMO get to you too much!

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. Wang Q., Li R., Wang Q., Chen C.: 'Non-Fungible Token (NFT): Overview, Evaluation, Opportunities and Challenges';

2. Messias J., Yaish A., Livshits B.: 'Airdrops: Giving Money Away Is Harder Than It Seems'.