Apecoin is one of the hottest cryptocurrency assets in 2022. This ERC-20 token is supported by the same team. Apecoin can trade on multiple trading platforms, including decentralized exchanges such as sushiswap and top centralized exchanges. Speculative investors made a lot of hype on Apecoin. In this guide, we will show you how to purchase Apecoin in different ways.
Want more than just to buy APE? Access dozens of different cryptocurrencies buying guides 2022 here.
What is ApeCoin (APE)?
According to the ApeCoin website, the token has been developed for the Web3 economy. Built on the Ethereum blockchain, the token will be “used within the APE ecosystem to empower a decentralized community building at the forefront of Web3”.
ApeCoin also wants to use the APE ecosystem to develop digital gaming, entertainment and art, claiming that the “possibilities for blockchain’s impact on culture are so endless that they can’t possibly all be predicted yet”.
ApeCoin is a digital asset and cryptocurrency built on the Ethereum blockchain. It is used to power the ApeSwap decentralized exchange and can be used to trade a variety of assets, including other cryptocurrencies, commodities, and fiat currencies. The APE coin has a fixed supply of 1 billion APE and is trading on several exchanges, including Binance, Huobi, and OKEx.
Led by the Ape Foundation, Yuga Labs purports to have structured the governance of the ecosystem as a decentralised autonomous organisation (DAO). ApeCoin token holders can allegedly vote on future developments to the ecosystem.
Yuga Labs will become a community member in the DAO and will adopt APE as the primary token across new projects.
DAO members can vote on a special council, named the board, that will oversee the foundation. The council members initially announced by the project include Reddit co-founder Alexis Ohanian, FTX’s Amy Wu and Horizen Labs’ Dean Steinbeck, but do not include any members of Yuga Labs.
ApeCoin, which is the ecosystem’s governance token, will also allow holders access to exclusive events, products and services.
Read More: What is ApeCoin (APE)?
How Does ApeCoin (APE) Work?
ApeCoin is decentralized crypto that supports instant, near-zero cost payments to anyone. It is underpinned by the ApeCoin blockchain, a distributed ledger that fully records all the transactions made on the network.
The ApeCoin blockchain is maintained by a network of computers known as nodes, which are spread across the world. Every node in the network stores a copy of the blockchain and validates all the transactions that are executed on the network. Whenever a transaction is executed, it is broadcast to all the nodes in the network that then validate the transaction and add it to the blockchain.
APE uses a Proof-of-Work (PoW) consensus algorithm to authenticate transactions and add them to the blockchain. Proof-of-Work is a type of algorithm that needs users to put in work and computational power to authenticate transactions and add blocks to its blockchain. The ApeCoin network mainly incentivizes users to authorize and confirm transactions by rewarding them with APE coins.
ApeCoin has a block time of 60 seconds, meaning that a new block is added to the blockchain every minute. Notably, the ApeCoin blockchain has a cumulative supply of 21 million APE tokens. The block reward is set to be halved after about every four years once 210,000 blocks are added.
The APE network is perfectly designed to be scalable to enable it to handle a huge number of transactions. Its blockchain uses a technique known as sharding that lets the network be partitioned into many shards. Every shard processes transactions in parallel, which makes the ApeCoin network more efficient and scalable.
The developers are committed to offering secure and easy-to-use crypto available for everyone.
Why Buy ApeCoin (APE)?
Crypto is categorized under a highly volatile asset class. ApeCoin, like most cryptocurrencies, experiences multiple percentage changes daily.
APE became a crypto trading asset on March 17, 2022, and had the approval of most of the major players in the exchange space. On that day, APE opened at $1.
With billions of dollars being poured into the cryptocurrency, ApeCoin rallied to an all-time high price of $39.40, a 3,840% in a few hours.
Seeing the fortune APE has brought them, many investors decided to sell off their APE holdings.
This saw a 78% drop to a new low of $8.52 by the close of the day. The new high APE attained after experiencing such a sharp decline was $15.49 on March 28, an 81% increase in 11 days.
This is not financial advice, and investors should only invest what they can afford to lose and always do their own research. Having said that, there continues to be a lot of celebrity buzz and high-profile projects that are trying to link up with ApeCoin and the BAYC franchise. As BAYC grows, so will APE, which makes it worth a look for investors who don’t mind Musk-induced price pops and drops.
How to Buy ApeCoin (APE) in 4 Simple Steps
- Step 1: Decide where to buy ApeCoin (APE).
- Step 2: Think about how to store your ApeCoin (APE).
- Step 3: Make your purchase.
- Step 4: Manage your investment.
How to Buy ApeCoin (APE) on a Crypto Exchange
1. Coinbase
- Step 1. Create a Coinbase account
Download the Coinbase app and start the sign up process. You will need a valid ID and may be asked for proof of address in order to transact, so be sure to have those ready. Verifying your ID may take longer than a few minutes, depending on where you live.
- Step 2. Add a payment method
Tap on the payment method box and connect a payment method. You can use a bank account, debit card or initiate a wire.
- Step 3. Start a trade
Press button then select “Buy” from the list of options.
- Step 4. Select ApeCoin (APE) from the list of assets
Search for ApeCoin (APE) by typing “ApeCoin (APE)” into the search bar. When you see ApeCoin (APE) show up in the results, tap it to open up the purchase screen.
- Step 5. Enter the amount you want to buy
Use the number pad to input the amount you want to spend in your local currency. The app will automatically convert that into a ApeCoin (APE) amount.
- Step 6. Finalize your purchase
Tap “Preview buy” when ready. You’ll be shown the details of your purchase. Make sure everything looks good and then confirm your purchase. That’s it, you’ve bought ApeCoin (APE).
2. eToro
- Step 1: Find a crypto exchange or trading platform that offers ApeCoin (APE)
There are a number of exchanges that will let you trade your funds for ApeCoin (APE). One of them is the eToro trading platform.
- Step 2: Sign up
If you’d like to buy ApeCoin (APE) through eToro, all you need to do is sign up, verify your account and make a deposit. From there, you’ll be able to buy and sell ApeCoin (APE) easily.
- Step 3: Buy ApeCoin (APE)
ApeCoin (APE) can be purchased fractionally, so you don’t need to buy a full ApeCoin (APE) to own some. For example, if ApeCoin (APE)’s price is $10,000, you can purchase 0.1 ApeCoin (APE) for $1,000.
3. Bitfinex
- Step 1. Log in to your account or sign up to Bitfinex.
- Step 2. Go to Deposit, choose Payment Cards.
- Step 3. Select the payment processors.
- Step 4. Choose the crypto and enter the amount.
- Step 5. Select the destination wallet and proceed payment
4. Binance
- Step 1: Create your Binance Account
Sign up with your email address or mobile phone number, and choose a strong password. Or, download the Binance crypto trading app from the App Store or Google Play store and open an account there.
- Step 2: Start Buying ApeCoin (APE)
There are two main ways to buy ApeCoin (APE) on Binance using cash: you can link your debit/credit card or bank account, or buy crypto directly from other users on Binance P2P.
Linking your debit card, credit card, or bank account (available in many regions) is one of the easiest ways to buy ApeCoin (APE). Through this method, you can buy ApeCoin (APE) for a minimum. (This amount varies depending on the currency you use.)
Buy ApeCoin (APE) directly from other Binance users with your local fiat currency via Binance P2P. Browse a variety of ApeCoin (APE) listings to shop the best offers on ApeCoin (APE) from other users. With thousands of merchants and hundreds of payment methods available, Binance P2P caters to many regions in the world right now.
5. KuCoin
- Step 1. Sign Up for KuCoin Account
- Step 2. Secure Your KuCoin Account
- Step 3. Verify Your Identity
- Step 4. Connect Your Account to Funds Fund Your Account
- Step 5. Start Trading on KuCoin
How to Buy ApeCoin (APE) With PayPal
- Step 1. Login to Paypal and Select Cryptocurrency
In Paypal website, you should see the option for cryptocurrency in the top right of the dashboard, next to ‘Send’ and ‘Request’.
- Step 2. Select ‘ApeCoin (APE)’
Or choose any of the other coins listed.
- Step 3. Select ‘Buy’
- Step 4. Choose How Much You Want to Buy
Enter an amount of dollars you want to spend on ApeCoin (APE) or choose a pre-set amount below.
- Step 5. Select Payment Method
You likely already have you bank account linked to you Paypal account, but you can also hook up another method if you don’t want to use your bank account.
- Step 6. Hit the ‘Buy’ button
After finalizing your purchase, you will be taken to a confirmation screen and you should see your coins reflected in your Paypal account dashboard.
How to Buy ApeCoin (APE) With a Credit Card
Not all platforms will allow you to use a credit card to make your cryptocurrency purchases. If you do choose a platform allowing such transactions, keep in mind that there may be extra fees associated with the purchase. Many credit card companies process cryptocurrency purchases via credit card as cash advances, which can incur high interest rates, among other fees.
Some credit card companies allowing cardholders to make crypto purchases treat the purchases as a cash advance (cash advances usually involve a cardholder using a credit card to withdraw money from an ATM). This has several critical disadvantages.
- Cash Advance Fees: Some cards treat a cryptocurrency purchase as a cash advance. This means each crypto purchase is subject to a cash advance fee. A typical fee of either $10 or 5% (whichever is greater) would be charged. These fees are in addition to fees charged by the vendor or exchange.
- Cash Advance Interest Rates: Most cards have a higher Annual Percentage Rate (APR) for cash advances—often over 25%. This is a variable interest that changes with the market. Interest will start to accrue on the day the purchase is made and will continue to accrue until the credit is paid off. By comparison, cardholders have up to 25 days to pay off a regular credit card charge before accruing any interest.
- No Credit Toward Rewards orBonuses: Credit used to purchase crypto (and thus make a cash advance) typically doesn’t qualify for any purchase rewards nor toward spending that would normally apply to a welcome bonus.
- Lower Credit Limits: Cash advances often have a lower credit limit than the cardholder’s overall credit limit that applies to the card itself. Cardholders hoping to make big crypto buys may find themselves limited by the cash advance terms and limitations.
Read More: How to Sell ApeCoin (APE)?
Buying ApeCoin (APE) FAQs
Can You Sell ApeCoin (APE)?
When the price of ApeCoin exceeds $100, you may sell 1,000 APEs conditionally.
The very complex system of trading platforms will terminate this deal whenever this price is tested in 2022, 2025, or 2028, depending on when the price is tested. Your investing aim is met if you observe or hear that APE has tested $100 and corrected to about $80.
Unless we have the appropriate moment to purchase ApeCoin, you should know that we have the right time to sell ApeCoin.
When you’ve achieved your financial objectives, you should only sell your crypto holdings.
If you don’t do this, you’ll lose out on a lot of money.
An excellent illustration is provided by the price movement of Bitcoin.
Initially, Bitcoin was traded at a price of less than one dollar per unit.
Numerous Bitcoin owners dumped their holdings because they couldn’t see how it might threaten the stability of centralized finance after more than two decades of existence.
Read More: How to Sell ApeCoin (APE)?
How to Buy ApeCoin (APE) In Other Ways?
- Buy ApeCoin with a Bank Transfer (SEPA)
Looking to make a large ApeCoin purchase? A secure SEPA bank transfer provides a low-fee way to deposit as much cash as you want in a single transaction.
- Buy ApeCoin with a Credit/Debit Card
Kriptomat customers are able to purchase ApeCoin for cash with either a credit or debit card. Card transactions also provide an instant solution to get you into the cryptocurrency game immediately – no waiting for funds to settle.
- Buy ApeCoin with Skrill or Neteller
Credit and debit card purchases not your style? Skrill and Neteller both offer yet another alternative payment method for purchasing ApeCoin. Here at Kriptomat, we’re thrilled to support both of these electronic options.
