Apecoin is the newly-launched token of the APE ecosystem, a decentralised community that is based around the infamous Bored Ape Yacht Club and Mutant Ape Yacht Club NFT projects (also known as BAYC and MAYC).
Yuga Labs, the company behind BAYC and MAYC, recently acquired CryptoPunks, their main competitor in the NFT space. With the launch of the Apecoin token, APE holders will be empowered to feel a deeper connection with the NFT space’s hottest projects.
Continue reading our guide to learn where and how to buy Apecoin.
The easiest way to buy Apecoin is to purchase it online from a crypto exchange. Exchanges make it easy to buy and sell Apecoin and other cryptocurrencies directly from your smartphone, tablet or computer. Check out our recommended platforms below and follow the steps to safely buy Apecoin.
The first step is to decide which platform you want to use to buy Apecoin. There are plenty to choose from, but if you want to keep your funds safe, make sure to select a regulated and reputable platform. Read more about how to choose the right platform in the next section or simply register immediately with one of our top recommendations below.
Once your account has been verified, make your first deposit. eToro supports a range of payment methods including PayPal, bank transfer, and credit/debit cards.
Search for Apecoin in the “Markets” section, and select APE. Enter the amount of APE you would like to purchase, then complete the trade. Simple!
You can buy ApeCoin from a variety of crypto exchanges and brokerages. If you’re looking for a reliable trading platform to purchase ApeCoin then visit one of our preferred crypto exchanges or brokerages below to get started.
There is a wide range of payment methods that you can use to purchase ApeCoin. Below are some brief explanations about the most popular payment methods on crypto trading platforms.
PayPal
Paypal is one of the most used payment methods online. It’s a shame that most crypto exchanges and brokerages won’t accept Paypal.
Bank transfer
Bank transfers are widely accepted by crypto exchanges and brokerages. Bank transfers take a few days to resolve but are reliable.
Debit card/Credit card
A debit or credit card can be used to purchase crypto and are widely accepted. Your deposit or purchase can be resolved in a few minutes.
Crypto
If you already own some crypto you can easily swap your cryptocurrency for another on any trading platform that offers the ability to do so.
Buying and holding ApeCoin is a great long-term strategy. Trading ApeCoin involves using derivatives or buying and selling ApeCoin over a certain period.
Trading ApeCoin can be done in a variety of different ways. Using derivatives such as leverage, and futures are some of the methods that traders use to trade crypto. Trading can be quite stressful and should only be done by those who have researched how to trade effectively and are prepared to lose against the market. It’s much safer to just buy ApeCoin and hold it.
ApeCoin DAO is a decentralised organisation that aims to grow the Ape ecosystem and manage partnerships, projects, and funding. Holding ApeCoin grants you entry into the DAO. The APE Foundation is led by a “special council” to help guide the DAO and the vision of the ecosystem. Members of the special council include Reddit co-founder, Alexis Ohanian, Yat Siu of Amimoca Brands and Amy Wu, head of ventures & gaming at FTX. The initial members of the DAO will serve for 6 months before new members are voted to replace them by members of the DAO.
With a fixed amount of 1 billion tokens, holders of either a BAYC or MAYC (Mutant Ape Yacht Club) NFT were able to claim ApeCoin for free. BAKC (Bored Ape Kennel Club) owners were also eligible, but they had to have owned a MAYC or BAYC as well. The token allocation and distribution information to the team, NFT holders and others can be found on the ApeCoin website.
On March 16th, WayPlay, supported by Aminoca Brands announced their aim to implement ApeCoin in a future play-to-earn game. As ApeCoin evolves, an increasing number of utilities will be associated with the project, potentially increasing its value. With the backing of big names and a loyal community, ApeCoin will be watched closely by the rest of the market.
You’ll want to weigh up the pros and cons of Apecoin before you decided to purchase APE. Here are a few points you should bear in mind.
Apecoin inherits BAYC’s clout. Bored Ape Yacht Club is the defining project in the NFT space. With major celebrity endorsements and increasing pop-cultural relevance, Apecoin is attached to one of the biggest names in the crypto space. There is a strong chance the attendant hype could send APE to very high prices. For more detailed predictions, read our Apecoin price prediction guide here.
Governance rights. APE holders will be able to influence decisions relating to the APE Ecosystem. The ecosystem is a DAO, a type of online community where decisions are made by the whole community, rather than just the leaders.
APE Foundation backing. Apecoin is supported by the APE Foundation, a group officially linked to and endorsed by Yuga Labs. Given this connection, the Foundation is likely to be a fair, responsible, and honest organisation, which should give investors confidence in the legitimacy of APE.
There’s no guarantee that buying ApeCoin will make you any money. If you’d like to take part in the BAYC community but can’t afford to shell out the Ethereum to purchase an ape then holding ApeCoin is the best alternative. DAO membership and upcoming utilities are exciting things in crypto and many investors will be joining in on the ApeCoin ecosystem to see what it’s all about.
It’s up to you whether you want to buy ApeCoin or not. Below are some pros and cons to ApeCoin:
Pros
Cons