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ApeCoin is regarded as one of the most significant cryptocurrencies available. It is one of 2022’s best-performing cryptocurrencies. In 2022 alone, the digital currency has surged by approximately 4,000 percent. Consequently, ApeCoin has risen to the top 50 digital assets in market value. But first, what is ApeCoin, and how do you acquire it?
What is ApeCoin?
ApeCoin ($APE) is a currency based on the Ethereum network unveiled initially on March 16, 2022. ApeCoin was first distributed through airdrop to all members of the Bored Ape Yacht Club (BAYC). It is currently available for purchase and sale on various wallets and exchanges.
The Bored Ape ecosystem’s governance token, $APE, earned a lot of followers after its Bored Ape Yacht Club NFT initiative surged in fame. It was intended to be utilized within the BAYC environment and functions as a function token for BAYC.
Marketed as a token of art, gaming, and trade, ApeCoin is used to enable a decentralized community growing at the vanguard of Web3, according to ApeCoin’s official Twitter page. It reflects the rising demand for decentralization in their community.
Holding Ape entitles you to membership in the DAO (decentralized autonomous organization, a type of online community focused on crypto); you don’t even need to buy a Bored Ape NFT to participate.
How Can I Get ApeCoin?
Anyone can obtain an APE; however, the coins are supplied if you own a Bored Ape NFT. It’s probably referred to as a sign of allegiance.
The number of ApeCoin BAYC owners receive is determined by the type and number of Apes they possess.
There’s a list in the whitepaper. It is stated that each Bored Ape NFT bearer receives around 10,000 ApeCoin. Owners of Mutant Apes receive substantially less – approximately 2,000 coins.
You receive a bit more if you have a mix of Bored Ape, Kennel, or Mutant, and anything with the original BAYC earns you a ton of cash.
The ApeCoin price varies, so BAYC holders may elect to sell and profit handsomely. Or they stay firm and demand full access to the ApeCoin DAO. Neither choice changes that they have spent thousands of dollars, but they can now put the NFTs to work.
Where Can I Purchase ApeCoin?
ApeCoin coin is already available on several crypto exchange sites. With that in mind, we narrowed down the top exchanges for purchasing ApeCoin.
If you use eToro, you may acquire ApeCoin on a spread-only arrangement. It means you won’t have to pay traditional commissions; instead, your cost will be based on the difference between APE’s buy and sell value when you place your transaction.
One advantage of purchasing APE with eToro is the ability to deposit fiat funds in USD. You will not be charged any deposit costs in this circumstance. E-wallets such as PayPal, etc., can be used to deposit funds.
Furthermore, you may deposit funds by bank transfer and bank cards.
If you want to acquire ApeCoin at the lowest possible price, you may probably invest in APE through Binance. Binance has about 28 million active monthly users as of October 2021. This exchange, named after the phrases binary and finance, boasts some of the cheapest trading costs in the decentralized financial market.
Binance allows you to deposit funds for free via an automated clearing house (ACH) or a domestic bank wire. Although automated clearing house transactions are free, each domestic wire transfer costs $15.
Binance, like all other major exchanges, provides custody services to its clients. As a result, when you acquire ApeCoin on Binance, the deal can keep the private keys on your behalf in their safe and complimentary offline vaults. And these assets are protected by the most extensive private insurance scheme for cryptocurrency investors, worth more than $1 billion.
Crypto.com is among the most famous and most prominent cryptocurrency exchanges in terms of trading volume as of 2022. Crypto.com, founded in 2016, provides its consumers with a cost-effective option to trade in crypto assets through its user-friendly platforms.
Like eToro, Crypto.com is a strictly regulated exchange. It implies that you must go through and finish a lengthy verification process. After that, you may use a debit card to purchase ApeCoin. The exchange, which aims to accelerate the global acceptance of cryptocurrencies, accepts MasterCard and VISA.
As a result, Crypto.com is one of the most accessible places to invest in ApeCoin. Crypto.com, one of the platforms with some of the best rates in the industry, levies a commission of 2.99 percent when you buy ApeCoin using a debit card. New traders and investors may take advantage of free trading for the first 30 days after becoming clients.
Is ApeCoin a Reliable Investment?
ApeCoin, like other popular cryptocurrencies, has advantages and disadvantages. Various elements make cryptocurrency an excellent investment today, and a few may cause you to rethink its long-term viability.
ApeCoin is now one of the finest cryptocurrencies. APE increased the assets of millions of holders in early 2022. APE has a bright future, with experts and economists at some of the most prominent crypto news and forecasting sources estimating it to top $50 by 2022.
Before investing in ApeCoin or any other digital asset, you should be aware that investing in highly volatile assets is both dangerous and beneficial.
Always ask yourself if the potential advantages of investing in ApeCoin outweigh the possible repercussions of the risks.
APE has returned 3,000 percent and continues to outperform expectations in its short trading existence.