Apecoin (APE) token holders make collective governance decisions, casting votes and deciding on issues such as fund allocation, rule framing, partnerships, project selection, and more.
What is Apecoin (APE)?
1. Who Controls Apecoin (APE)?
ApeCoin has a total supply of 1 billion tokens and is controlled by the community. The ApeCoin DAO is a decentralized organization that allows all APE holders to vote on governance decisions related to the token.
ApeCoin (APE) is a token launched on the Ethereum mainnet and controlled by the Ape community. Its goal is to encourage user activity and foster the formation of the Web3 Internet. APE plays a major role in the recently launched ApeCoin DAO — an organization behind the ApeCoin community that defines its development paths.
The only requirement to become a member of the ApeCoin DAO is holding some APE. Anyone who meets this criterion can submit proposals, vote on how the Ecosystem Fund is distributed, define what partnerships the DAO starts, and more. Thus, ApeCoin DAO with APE as the governance asset goes far beyond BAYC in an attempt to build a decentralized ecosystem.
2. Who Created Apecoin (APE)?
Although ApeCoin DAO is a decentralized organization that is fully controlled by ApeCoin holders, it’s overseen by a dedicated council of the Ape Foundation that comprises top professionals in Web3 and gaming:
- Alexis Ohanian, Reddit, Co-founder,
- Amy Wu, FTX, Head of Ventures and Gaming,
- Maaria Bajwa, Sound Ventures, Principal,
- Yat Siu, Animoca Brands, Co-founder and Chairman,
- Dean Steinbeck, Horizen Labs, President and General Counsel.
- DAO members elect new council members every 6 months, which ensures rotation in the ApeCoin Foundation leaderboard.
The core inspiration for the launch of ApeCoin was the NFT collection Bored Ape Yacht Club released by Yuga Labs in 2021. Neither ApeCoin nor ApeCoin DAO are controlled by this studio, Apecoin Foundation of the team behind BAYC, yet still Yuga Labs took active participation in creating APE. The token’s official website states that the asset was created by the ApeCoin DAO.
It’s still unknown what exact role Yuga Labs took in the project. Anyway, the studio remains one of the backbones of the Ape Ecosystem and will help it launch new products and services.
3. Apecoin (APE) Pros and Cons
Apecoin (APE) Pros:
- ApeCoin Thrives On A Valuable Brand
- APE Has The Support Of High Volume Exchanges
- ApeCoin Is Relatively Cheaper
- APE Has The First-Mover Advantage
Apecoin (APE) Cons:
- ApeCoin (APE) Is Highly Volatile
- Lack Of Real-World Utility
- ApeCoin Faces Stiff Competition From Thousands Of Tokens
- ApeCoin Is Not An Independent Blockchain
4. The Difference Between Apecoin (APE) and Traditional Currencies
The main difference between them is, the traditional currency is a centralized system and bitcoins are decentralized one and peer-peer systems. Hence there are no central authorities to regulate rules and regulations on a bitcoin transaction. But a traditional currency is strictly regulated by the governmental authorities. Both the bitcoins and fiat currency have values which can be used for buying and selling of goods in the market.
- Flexibility
With traditional currency functioning for five days a week and die to transaction restriction, there is a chance of freezing of currency. There is no limit in the number of currencies, being printed, and hence when there is inadequate currency, it will affect the buyers and sellers, resulting in inflation.
- No Fraudulent Activity
If you want to transact with a traditional currency system, the users have to provide personal details like name, address, phone number, and lots more. So, with the internet technology, the malicious user will be able to hack the account details of the traditional currency system easily. Traditional currency can suffer from double-spending, where the same money is used for more than one transaction.
- Reduced Cost
In a traditional banking system, for making a national transaction, it will take 2-3 working days, and the transaction fees will be high. In the case of international transactions, the transaction fee will be very higher, and it will take 15 days to complete the transaction. In a Cryptocurrency system like bitcoins, there is no transaction fee for making a national transaction. The transaction will also take place in seconds or within 24 hours.
5. Is It Safe To Use Apecoin (APE)?
ApeCoin has been certified as a safe investment by several analysts and experts. ApeCoin has a 95% score by security firm CERTIK which means it is extremely safe.
Aside from that, ApeCoin is the first cryptocurrency to be listed by all the major exchanges on the same day of its launch. Ordinarily, it takes months for a thorough assessment to be done on the potential of a cryptocurrency.
ApeCoin gaining approval from Binance, Coinbase Pro, OKX, Crypto.com, and more importantly eToro means you can invest in ApeCoin knowing the project would not go bust.
Using well-regulated cryptocurrency exchanges to buy APE guarantees the coin’s safety.
Open an account with eToro, deposit some funds with USD, and finally – buy ApeCoin from just $10.
6. Is Apecoin (APE) Legal?
Yes, Yuga Labs LLC — the company behind ApeCoin, is a legitimate and regulated entity. Also, in March 2022, they’ve raised $450 million dollars from very reputable and top-tier investment companies such as Andreessen Horowitz (also known as “a16z”); greatly increasing their market legitimacy.
How Does Apecoin (APE) Work?
APE token holders take governance decisions collectively, casting their votes and deciding on issues like allocation of funds, framing of rules, partnerships, project selection and more. The ApeCoin Foundation implements the governance decisions taken by the community.
As the legal representative of the DAO, the ApeCoin Foundation facilitates the growth of the ecosystem. The Foundation has a special body called the Board that executes the community’s visions. The APE Board comprises five members from the technology and crypto community. ApeCoin holders vote for the new Board members annually.
How to Make Money with Apecoin (APE)?
Here are quite a few approaches for us to make money with Apecoin (APE), such as Mining, Buying & Hold Bitcoins, Accept Payments in Apecoin (APE), Earning Apecoin (APE) by turning into an Affiliate, Lending Apecoin (APE), and Micro Earnings, and Trading.
- Apecoin (APE) Mining
- Buy & Hold Apecoin (APE)
- Accept Payments in Apecoin (APE)
- Determine how you’ll use Apecoin (APE)
- Find a Apecoin (APE) wallet
- Find a Apecoin (APE) payment processor
- Accept Apecoin (APE) payments
- Becoming an Affiliate
- Lending Apecoin (APE)
- Micro Apecoin (APE) Earnings (Faucets, Offer Wall, Short Links, Surf Ads……)
- Apecoin (APE) Games
- Micro Apecoin (APE) Tasks
- Trade Apecoin (APE)
How to Buy Apecoin (APE)?
You can buy APE from International as well cryptocurrency exchanges. For those who are looking to buy APE in any international crypto exchange against BTC, ETH or any stable coin, refer to the below mentioned crypto exchanges.
1. Things To Know Before You Buy Apecoin (APE)
Buying Apecoin (APE) and holding onto it in hopes it will appreciate in value, is the most common form of “investing”. As with all investing, you should never invest more than you are willing/able to lose. This is especially true with Apecoin (APE), since it’s still a very risky investment.
The most important thing to keep in mind when buying Apecoin (APE) is to make sure to buy only from exchanges that have proven their reputation.
Another key tip is to make sure you don’t buy all of your Apecoin (APE)s in one trade. Instead use a dollar cost averaging method—buy a fixed amount every month, week or even day throughout the year. This ensures that you buy the most Apecoin (APE) when it’s on the rise, and less when it’s going down in price.
2. How to Buy Apecoin (APE) on a Crypto Exchange
- Coinbase – Secure online platform for buying, selling, transferring, and storing cryptocurrency.
- eToro – Trade and invest in a diversified portfolio, starting at $10, or practise risk-free with a virtual portfolio.
- Bitfinex – Digital asset trading platform offering state-of-the-art services for digital currency traders and global liquidity providers.
- Binance – Low trading fees, a generously wide range of leverage, and high liquidity.
- KuCoin – A large cryptocurrency exchange offering the ability to buy, sell, and trade cryptocurrencies
3. How to Buy Apecoin (APE) with Cash
- Find a seller in your area who accepts cash.
- Select amount of coins and place an order.
- Receive account number from the seller.
- Deposit cash into the seller’s account.
- Upload your receipt to prove you made the deposit/trade.
- Receive Apecoin (APE)!
4. How to Buy Apecoin (APE) with Credit Card
Not all platforms will allow you to use a credit card to make your Apecoin (APE) 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.
5. How to Buy Apecoin (APE) with Paypal
- Login to Paypal and Select Cryptocurrency
- Select ‘Apecoin (APE)’
- Select ‘Buy’
- Choose How Much You Want to Buy
- Select Payment Method
- Hit the ‘Buy’ button
6. Should I Buy Apecoin (APE) In 2022?
ApeCoin’s success may become more apparent over the longer term once the coin solidifies a reputation for utility rather than speculation. One avenue that the ApeCoin DAO looks likely to explore is entering the metaverse. This may already be happening since Yuga Labs recently teased its upcoming project, dubbed ‘The Otherside’.
If one is looking to make money in digital currency in near future then Apecoin is a good option to invest in as future predictions seem to be good. However, it is better to wait till Bitcoin becomes stable. BTC is continuously falling, and it has dragged almost all the altcoins down with it. Apecoin is no exception. For Apecoin price to rise, BTC needs to be stable, and Metaverse trend needs to continue. If you are investing in Apecoin, do not invest a lot of money. Put only a little part of your portfolio that even if the price goes down by another 90 percent, it should not bother you.
Read More:
How to Sell Apecoin (APE)?
1. Things to Know Before You Sell Apecoin (APE)
To get started with Apecoin (APE), you’re going to need three things: an exchange, a wallet and the knowledge of how to buy the cryptocurrency. This last one is easy with our guide on how to buy Apecoin (APE), but the other two are still important. The exchange allows you to buy Apecoin (APE) from sellers, and the wallet gives you somewhere to store it long term.
When choosing an exchange, you should look for one with many users, good customer support and low fees. Three particularly popular exchanges with newcomers are Coinbase, Robinhood and Binance. However, there’s nothing really tying you to a specific exchange, so you can try new ones and quickly change at any time.
On the other hand, wallets can be much more complex. “Cold wallets” — physical devices holding cryptocurrencies offline — come with a steep up-front cost, but “hot wallets” — pieces of software that hold your coins on a computer — are often less secure. However, since hot wallets are fine for short-term storage and free to set up, it’s a good idea to start with them.
2. Sell Apecoin (APE) in Cryptocurrency Exchanges
- Step 1: Set up an exchange account
- Step 2: Transfer your Apecoin (APE) to your exchange wallet
- Step 3: Place a sell order
3. Sell Apecoin (APE) in P2P Trading
- Step 1: Go to the P2P Trading Page
- Step 2: Choose to Sell and Set Your Currencies
- Step 3: Find a Buyer
- Step 4: Choose How Much You Want to Sell
- Step 5: Send the Offer
- Step 6: Confirm the Release
4. Sell Apecoin (APE) in Apecoin (APE) ATMs
- Step 1: Choose withdraw cash
- Step 2: Choose Apecoin (APE) (these machines normally may support other cryptocurrencies)
- Step 3: Choose amount to withdraw
- Step 4: Send Apecoin (APE) to given address QR code
- Step 5: Receive cash immediately as Apecoin (APE) transaction is propagated on the network
What Is Apecoin (APE) Mining?
Apecoin (APE) mining is the process of creating new Apecoin (APE) by solving extremely complicated math problems that verify transactions in the currency. When a Apecoin (APE) is successfully mined, the miner receives a predetermined amount of Apecoin (APE).
1. How Does Apecoin (APE) Mining Work?
ASIC mining rigs are machines made of a motherboard, ASIC chip and a cooling system. They’re designed specifically to mine a certain cryptocurrency and they do it well. This hardwares purpose is to solve as many cryptographic puzzles at a time. The primary investment into one of these could get paid for in a few months, but there is still a large problem with noise, heat and power demand of these machines besides, they do break down and as the machine runs 24/7, they do wear out.
2. How to Mine Apecoin (APE)?
The ApeCoin block is mined every ASIC. But this block is then divided between all miners. How long does it take to mine 1 block of ApeCoin for yourself depends on your hash rate, which is basically how powerful your mining setup is. For mining ApeCoin you will get the best results with using 0.
3. Hardware for Apecoin (APE) Mining
A hash rate is basically a scale of how many guesses for the puzzle your mining setup can make in a given amount of time. The rate is in hashes per second (h/s) and can be decadically moved up (KH/s, MH/s,…).
Ethash is used for encrypting Ethereum and Ethereum Classic. Ethash was built to be ASIC-resistant through memory-hardness (by requiring large memory, standart ASICs couldn’t decrypt the puzzles). Unfortunately for graphics miners, in early 2018 the first ASIC miners for Ethash were introduced on the market and Ethereum eventually lost its decentralization similarly like Bitcoin.
SHA256 (or Secure Hash Algorithm) was originally designed by the NSA back in 2002. Later the algorithm found use within the Bitcoin cryptocurrency and is what runs all Bitcoin based coins. SHA256 is a hash of 256 bits and is what miners decrypt using their mining setups which eventually validates blocks, for what miners are rewarded.
The Scrypt algorithm similarly to Ethash was designed to be ASIC-resistant, but unfortunately ASIC miners for Scrypt have entered the market and cryptocurrencies like Litecoin expect the same fate as Bitcoin or Ethereum.
How to Get Free Apecoin (APE)?
Most genuine websites that allow you to earn free Apecoin (APE) require you to spend money on other things like buying cloud computer mining power, connecting your CPU for mining, playing a game, or completing micro-tasks.
In other words, they offer free Apecoin (APE)s as an advertisement for their services. Otherwise, it takes time and effort to get free Apecoin (APE) given its current high value.
- Apecoin (APE) Faucet
- Apecoin (APE) PTC Sites
- Apecoin (APE) Airdrop
- Apecoin (APE) GameFi
- Apecoin (APE) Bounties
- Learning About Apecoin (APE)
- Shopping Reward
- Apecoin (APE) Interest
- Owning a Apecoin (APE) Faucet
- Write about Apecoin (APE)
- Apecoin (APE) Affiliate Program
- Free Apecoin (APE) Cloud Mining
What is a Apecoin (APE) Wallet?
1. Apecoin (APE) Wallets for Beginners
ApeCoin tokens are stored in an Ethereum wallet. We recommend using MetaMask or MyEtherWallet for storing your APE tokens. Both wallets make it easy to store and interact with smart contracts, and they offer robust security features. Make sure you always use two-factor authentication for added security.
If you’re interested in buying or using ApeCoin, there are a few things you need to do:
- Get an Ethereum wallet: You will need an Ethereum wallet to store your APE tokens. We recommend using MetaMask or MyEtherWallet.
- Buy ETH: Once you have a wallet, you will need to purchase Ethereum (ETH). ETH is the native currency of the Ethereum blockchain and is required to interact with smart contracts.
- Find an exchange: ApeCoin can be bought on a variety of exchanges, such as Binance, Huobi, and Kraken. It can also be traded on decentralized exchanges such as Uniswap and 1 inch.
- Start trading: When you’re ready, you can start buying and selling APE tokens on the exchange of your choice. Make sure to research ApeCoin carefully before investing any money.
2. How To Make A Apecoin (APE) Paper Wallet?
Although there are ways to manually generate a private key, the vast majority of paper wallet creators use a private key generator. Once a private and public key have been created, you are able to print a paper wallet, which because it’s not online doubles as a cold storage wallet. This will include the public and private key you’ve generated, usually as both a string of characters and QR codes.
Anyone with a paper wallet’s public key can send crypto to it as often as they like. Using the corresponding private key, you can move the crypto balance of the paper wallet into a software wallet. This transfers the funds to a new private key on your software wallet.
3. Ways To Set Up a Apecoin (APE) Wallet
There are many Apecoin (APE) wallets out there, and all of them differ in their characteristics. Mobile software wallets are great for day-to-day use, while desktop software wallets bring about a great balance between convenience and security. Lightweight web wallets are the best choice for quick online transactions. Cold encrypted hardware wallets like Ledger or Trezor are the best for long-term storage of bitcoin. However, unlike other options, hardware wallets aren’t free and cost $50 or more.
Set up a Apecoin (APE) Software Wallet
- Mycellium
- Bread (BRD) wallet
- Bitcoin wallet
- Electrum
- Samourai
Set up a Apecoin (APE) Web Wallet
- Coinbase
- Blockchain.info
- BTC.com
- Rahakott
- BitGo
Set up a Apecoin (APE) Hardware Wallet
- Ledger
- Trezor
- BitLox
- KeepKey
How to Buy and Sell Apecoin (APE) In Different Area?
1. How to Buy and Sell Apecoin (APE) in India?
You can get Apecoin (APE) in India mainly through buying and mining. To buy it, you can use several online exchanges such as WazirX, Coinbase, BuyUcoin, and CoinDCX. Choosing the best online exchange is another task, but here are a few things you should keep in mind while buying the cryptocurrency in India.
- It’s best to go with an exchange that allows you to withdraw cryptocurrency in INR to your personal online wallet for safekeeping
- Make sure that the internet connection is secure. Also, don’t forget to use safe internet practices like two-factor authentication and unique and strong passwords.
- KYC aka Know Your Customer verification is a must, at least in India. For that, you can use a PAN card and valid address proof
- Now, add the bank account that is linked to your PAN card. Verification will take around 2-3 days
After the verification is complete, you can start trading Apecoin (APE) in India. Money from your bank accounts can be transferred using NEFT, RTGS, and debit and credit cards. Currently, the value of one Bitcoin is around 27 lakh; however, you don’t have to buy a whole coin to begin investing. You can buy Bitcoin in parts, i.e. small investments for as low as Rs 500. That way, you will own a small percentage of the cryptocurrency.
2. How to Buy and Sell Apecoin (APE) in Canada?
- Sign up and get KYC (Know-Your-Customer) verified on a Canadian crypto exchange like Bitbuy.
- Deposit CAD to the exchange directly from your bank account.
- Buy Apecoin (APE).
- Store Apecoin (APE) on your exchange account or transfer it to a wallet.
3. How To Buy and Sell Apecoin (APE) In The UK?
- Create a Coinbase account.
- Complete identity verification to access fiat payment options.
- Navigate to the Accounts and select the GBP wallet.
- Fund your account using Bank Transfer or other methods.
- Once the deposit is complete, go to the Buy/Sell page and select GBP to Apecoin (APE).
4. How To Buy Apecoin (APE) in the United States?
The best way to buy and sell Apecoin (APE) in the USA is through an exchange such as Coinbase, Kraken, Gemini, Coinmama, Binance, or Changelly. There is a plethora of options available, so it is best to look at each of the exchanges’ processes for deposits and withdrawals, fees, and transaction speeds to determine which is best for you.
Apecoin (APE) FAQs
1. Apecoin (APE) History
Yuga labs have grown to become the leading NFT brand with the launch of its Bored Ape and Mutant Ape NFT collections. Ownership of these premium NFTs has evolved into an elite movement of highly influential figures who hang out in the Bored Ape Yacht Club. However, to power the ecosystem of apps and services deployed by Yuga Labs and third-party brands, ApeCoin was launched.
ApeCoin started trading in the early hours of March 17, 2022 and was first distributed to Bored Ape and Mutant Ape NFT holders, who received about 10000 and 2000 tokens respectively. The token price hit a peak of $39.40 before hovering at the $10 mark within 24 hours of the launch. This had a ripple effect on the floor price of the Bored Ape which spiked from 91.9 ETH to 105.9 ETH and Mutant Ape from 20.3 ETH to 23.3 ETH as highlighted by Decrypt on launch day. Since its launch, ApeCoin has received partnership deals from popular projects like Animoca Brands, and nWayPlay which are working to integrate ApeCoin as its in-game currencies.
2. What is the purpose of ApeCoin?
As a governance and utility token, ApeCoin serves multiple purposes in the ecosystem. ApeCoin use cases include enabling holders to participate in the governance of the DAO and enabling them to access exclusive features of the ecosystem, such as games, events, merchandise and services.
3. How many ApeCoin are there?
According to CoinMarketCap, there is a maximum supply of 1 billion APE tokens, with 277.5 million currently in circulation. Given the current ApeCoin price, this gives the token a market cap of $4.02 billion – making it the 45th largest crypto globally.
4. What Can You Do With ApeCoin?
ApeCoin is mostly used as the governance token for the ApeCoin DAO and for trading at major exchanges. It is a relatively new project but it has bold plans; the BAYC team has outlined their intentions of making APE the de facto currency for a vast ecosystem of projects building on the Otherside metaverse.
Some third-party projects are already strategizing the use of ApeCoin. For example, Benji Bananas, a popular mobile video game created by Animoca Brands decided to integrate play-to-earn modularity in which players can earn in-game tokens that can be exchanged for ApeCoin.
This is just one of the few projects that are supporting the APE token, but we could presumably foresee a future where dozens and even hundreds of NFT projects are using ApeCoin as a means to attract users from the BAYC and surrounding NFT ecosystems.
