How to Buy ApeCoin (APE) in 2023: Step by Step Guide
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If you’re looking for a hot new cryptocurrency that’s headed for success yet still fairly accessible, you may want to take a closer look into ApeCoin (APE). Founded by Yuga Labs (the creators of the Bored Ape NFTs), ApeCoin is made to serve as a token for the BAYC (Bored Ape Yacht Club). Because of this, it’s not just a cryptocurrency associated with a popular asset, but also a utility token with other uses.
Interested in getting your hands on some APE tokens? If so, you’ve come to the right place.
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Where and How to Buy ApeCoin
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Cryptocurrencies are very volatile and overall a risky investment. 69% of investor accounts lose money when trading CFDs
If you have any knowledge of the investment niche (or even if you’ve just had a cursory glance into trading), you’re likely to have heard of eToro. The notoriety of the brand is the number one reason why it features at the top of our list.
There are a variety of things that have helped to propel eToro to fame aside from its well-established branding, and these include its professionally designed user interface and its generally low fees. Other factors, like high-end security you can trust and the unique social trading features, only help to make it an even better choice for beginners and experts alike. You’ll often find that signing up and purchasing some APE tokens will be incredibly easy, too.
How to buy ApeCoin:
If you go to the eToro website, you’ll find that it’s not too difficult to create an account.
After signing up, you’ll want to deposit some money and link your crypto wallet (which is where you’ll be storing your APE tokens, as well as any other cryptocurrencies you may want to buy).
From here, it should be a simple task of navigating the Crypto market section to find and purchase ApeCoin.
Another excellent place to buy and sell digital coins is crypto.com. On this platform, you’ll find that trading is incredibly straightforward, which is one of the main reasons why we believe it deserves a spot on our list. This, alongside the range of cryptocurrencies on offer (which includes ApeCoin, of course), DeFi support, low fees and more are simply icing on the cake.
The good news is that you’ll often find that purchasing APE tokens will be just as easy as anything else on this site. Much like with eToro, just navigate to the area where you can purchase digital coins (just find APE in the ‘buy’ field) and select how much you want. Of course, you should also have a crypto wallet set up and ready to go, and have it linked to your account, so you can deposit and store your coins safely.
Last but not least, we have Binance. This platform isn’t generally considered to be the best option for those who are just starting out on their crypto journeys, as it aims to provide a more advanced set of features than some of the other cryptocurrency exchanges out there. However, everything that this site does offer can make it a fantastic choice for anyone with a little more knowledge and experience with trading – and this is well worth considering if you want to find the perfect exchange for your needs.
Several things have helped this platform to rise in popularity; from its generally low fees, to the wide range of digital assets, including their own Binance Coin token. If you’re looking for something that will facilitate all your crypto needs, Binance is generally a good choice.
Again, the process of making a purchase is often going to be incredibly easy. Simply create your account, deposit some cash, link it to your wallet (if you don’t already have one, you could always use the Binance wallet) and finally, buy some ApeCoin. It’s that simple!
How to choose a platform to buy ApeCoin from and what to consider
As we’ve only looked into 3 exchanges, it could be worth considering the fact that there are many, many more to choose from. We would encourage you to take the time to do your own research, but we did scan the market for the best and eToro, Crypto.com and Binance were certainly the front-runners in the niche.
When it comes to choosing the ideal platform for your trading needs, there are going to be a few things to think about, such as:
Fees – Of course, for most people, having access to great features for a low cost is generally the preferred option. Most exchanges will take a small percentage of your investments, so it’s always worth taking the time to figure out how much you’ll be paying with different sites.
Security – To ensure that your money and information are safe, you need to look for the best possible encryption. If a team doesn’t invest in your security, they may not be worthwhile. Fortunately, you can generally rely on the 3 we mentioned earlier for this.
Assets – Even if you’re only interested in ApeCoin right now, it can be worthwhile to find a platform that offers a broader range of cryptocurrencies. At the very least, it will make expanding your portfolio easier later on.
User interface – If a website isn’t easy to navigate or is just poorly designed, it may make your life as a trader more challenging. With good UI though, you can generally get on with your investments without any unnecessary hiccups.
While still in its earlier stages, Yuga Labs have developed ApeCoin to simply improve the Bored Ape Yacht Club ecosystem as a whole. Thanks to this (and its association with the Bored Apes of course), this cryptocurrency has already seen some success in the market – which isn’t something you’ll want to overlook.
There are several things that you might want to know about APE collection and the Bored Apes brank. For example, Yuga Labs plans to mint 1 billion APE tokens. However, they’re going to distribute less than half of the total amount to the public – with a total of 62% of APE tokens going to the treasury and anyone holding a Bored Ape NFTs.
Those holding BAYC and MAYC NFTs will be given a small portion of ApeCoins – in total, 15% of all minted tokens will be distributed among NFT holders, so you may be in luck if you’re already a fan of the Bored Apes franchise. BAYC holders will share 10,094 APE and MAYC holders will share 2,042 APE when the tokens are distributed via airdrop (although, you will only have 90 days to claim your tokens, so don’t wait too long).
What can you do with ApeCoin?
APE will eventually offer utility to holders in several ways, with one of the key ones being how it will allow owners to vote on key decisions of the BAYC.
When it comes to fair and decentralised governance, most will agree that the ApeCoin DAO is one of the best solutions. The ApeCoin DAO (Decentralised Autonomous Organization) can make proposals that holders of the token will be able to vote on. This way, everybody in the community has a chance to choose the future of the Bored Ape ecosystem.
Outside of this, the tokens will also be useful for purchasing any Bored Ape assets, getting access to exclusive games and events in the BAYC community and much more.
Of course, you can’t forget the investment potential of these assets. While these coins haven’t been around for too long, there has already been a considerate amount of volatility, with significant fluctuations in value. This could certainly work in your favour, but as an investor, you do also need to consider the risks that can come with such drastic price swings.
As you can see, there are a lot of things that make ApeCoin an enticing cryptocurrency. If you’re looking for an easy way to get more involved in the world of the Bored Apes, this could be the perfect token for you. And, if you are already a part of the Bored Ape community, this is certain to be an asset that helps to improve your experience. With everything that APE has to offer, what’s not to love?
Overall, if you’re someone who considers Bored Ape to be interesting, there’s no doubt that you’ll find ApeCoin to be a worthwhile investment.
There are several reasons why many experts consider the APE token to be worth purchasing; from its association with an already successful crypto asset, to its functionality and role in the Bored Ape Yacht Club ecosystem.
How do you sell ApeCoin?
In most cases, you’ll find that cashing out and selling your Ape tokens will be just as easy as buying them. In fact, you’re likely to be able to sell them through the exchange you bought them on, making it even easier for you to make your trades.
What is the ApeCoin DAO?
Due to the popularity of BAYC, Yuga Labs wanted to make a simple way to offer decentralized governance to the ecosystem they were creating. Essentially, any DAO member can make an Ape Improvement Proposal for token holders to vote on.