Use your ApeCoin to purchase goods and services from any participating merchant that accepts ApeCoin and cryptocurrency. ApeCoin is a highly volatile asset capable of major price swings in a single day. Today APE is trading for $2.05, which is slightly up from yesterday’s trading price of $2.13. The first thing you need to do if you are looking to buy ApeCoin is to sign up for an exchange that supports the cryptocurrency. Currently, Binance, Coinbase, and Kraken are among the largest exchanges supporting APE.
The 1st couple months of 2022 have been bearish for crypto, but we’ve recently seen a rebound which may or may not continue. While bitcoin is still trading far below its all-time highs, NFTs have continued to increase in value over the last few months. Both the NFT and crypto markets trade 24 hours a day, 8 days a week, so it’s a good idea to use a portfolio tracker to stay up to date on your investments.
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Tens of billions of dollars have been transacted in the NFT space, and the number is increasing every day. The project quickly gained popularity and is one of the most popular NFT projects to date. The project combines aspects of community, exclusivity and social capital to create an enticing and prominent NFT project.
Is it Worth Buying a Bored Ape Yacht Club (BAYC) NFT?
By securing your tokens in your own wallet as opposed to on an exchange, you can avoid losing your assets in case of an exchange bankruptcy or a hack. The Ledger Nano S is among the most affordable hardware wallets on the market, coming in under $60 for the device. Plus, the Ledger Nano S is a multicurrency wallet, meaning that you can conveniently store thousands of different cryptocurrencies all on the same device. Since ApeCoin is an ERC-20 token, you can easily store it on Ledger along with almost all your other tokens.
Multi HODL features low trading commissions, and multiplier levels as high as x50. Q has been generally bearish for cryptocurrencies, and while NFTs were in a frenzy at the start of the year, they seem to have cooled off. With Yuga Labs making huge announcement after huge announcement, some believe the NFT market will continue to be bullish over the coming months. As for the fungible token markets, much uncertainty around regulations and war seems to have halted upward movement for now. For the most up-to-date cryptocurrency prices, check out the table below.
Each ape was sold on the primary market for 0.08 Ether, or around $200 USD. Today, the floor price of Bored Ape Yacht Club is well into the 6-figures. It’s also probably the most culturally important NFT collection in the world.
When comparing offers or services, verify relevant information with the institution or provider’s site. Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Please note, the deposit occurs when the money is received by Uphold. What’s more, the “Otherside”, a new metaverse projected created by Yuga Labs, is set to launch on April 30th. It is speculated that the mint price of virtual land parcels in the Otherside will be priced at 300 APE, further bolstering the use case of ApeCoin in the short term. Only a few days later, the community was shocked again by Yuga Labs when The Block released a leaked pitch deck made to woo investors. The document revealed that the startup is planning on launching a massive metaverse called the ‘Otherside’, involving the sale of 200,000 parcels of virtual land. All information is accessed through a password, which can also have two-factor authentication.
Each is a headshot of an ape, but each NFT has defining characteristics that make it unique and define its rarity. Each ape’s clothes, background and eyes, among features, determine its overall rarity. This is a common practice among NFT projects, giving each holder a distinctly unique NFT.
How do I trade, convert or sell ApeCoin?
For investment, tax, or legal advice and before taking any action you should consult your own advisors. Note that digital assets such as cryptocurrencies present unique risks for investors. Please see our disclaimer regarding risks specific to holding digital assets before investing.
ApeCoin is the token at the foundation of the Bored Ape Yacht Club ecosystem that will eventually have a ton of utility. Owners of the 2 main NFT collections, Bored Apes and Mutants, will get an advantage with a significant amount of tokens off the bat. However, there will be other ways of acquiring ApeCoin including just buying it on an exchange like Coinbase or earning it in Yuga Labs’ upcoming play-to-earn game. The ApeCoin treasury will also grant third-party developers tokens to build out the ecosystem further. While prices have risen dramatically in the past several months, they could crash at any moment. Most of the apes’ value comes from the exclusivity and media attention.
How to buy ApeCoin (APE)
Yuga Labs knew that the Bored Ape Yacht Club ecosystem would benefit greatly from a decentralized form of governance so they built the ApeCoin DAO. The token will, in essence, act as a voting share for the Bored Ape ecosystem. Any DAO member can bring forward an Ape Improvement Proposal to request a change or decision on matters like fund allocations, governance rules, projects, partnerships and so on. Metamask is the most common software wallet to use for Ethereum and Layer-2 solutions.
These marketplaces typically use escrow to enhance security, but it’s still advisable to only trade with users with high trust ratings. The collapse of crypto exchange FTX in November 2022 highlighted this risk when billions of dollars in user funds were lost. Hence, trading on a decentralized exchange (where you control the custody of your assets) is typically considered the safer option. Having said that, DEXs are unregulated, and there is no customer protection if funds are lost due to hacks. Decentralized exchanges are smart contract-powered online trading platforms that enable users to trade crypto on a peer-to-peer basis without the need for a central authority. This article is for informational purposes only and takes no account of particular personal or market circumstances, and should not be relied upon as investment, tax, or legal advice.
Crypto exchanges are online trading platforms for digital assets that function in a similar way as online stock brokerage platforms, such as Fidelity or Charles Schwab. The only difference is that you use U.S. dollars to buy and sell cryptocurrencies instead of traditional financial investments, such as stocks and bonds. Cryptocurrencies, like ApeCoin, are decentralized digital assets that typically act as a proxy for the success of a particular crypto project.
Apart from status and exclusivity, some invest in BAYC with the hopes of making a profit. As BAYC becomes more and more popular, the floor price, or minimum price an NFT is listed for, increases. Because of this, investors will purchase apes with the intention of selling them for a profit in the future. YouHodler offers competitive fees for buying APE with credit cards, debit cards, or bank deposits.
How To Buy ApeCoin (APE)
BAYC has attracted celebrity attention, with big names investing in and bringing attention to the project. Famous BAYC owners include billionaire entrepreneur Mark Cuban, artists Post Malone and Justin Bieber, and NBA stars Steph Curry and Shaquille O’Neal. If you want to see the full list, make sure to check out our post on celebrities who own BAYC NFTs. There is a growing number of charities that accept donations in ApeCoin and cryptocurrency. MoonPay follows strict security measures to ensure you have a safe ApeCoin purchase.
- Learning how to store your NFTs is just as important as learning how to buy a Bored Ape NFT.
- As for the fungible token markets, much uncertainty around regulations and war seems to have halted upward movement for now.
- Finally, make sure to transfer your APE tokens from the exchange to your personal, non-custodial crypto wallet that supports ApeCoin.
- Deposit crypto you already own from any supported network and trade it into APE via the Uphold app.
Some think the art is childish, while others say it belongs in the Louvre. Either way, the apes are a status symbol to many in the blockchain community. ApeCoin can be staked to earn additional APE tokens, making ApeCoin a yield-generating crypto asset. All you need to do is connect your crypto wallet and start earning staking rewards. Currently, we offer 3% APR plus compounding interest for all APE deposits. Experience the ease of crypto savings accounts and enjoy a compounding passive income.
The easiest way to buy APE is by placing an ‘instant buy’ order to purchase it for a fixed price but not all crypto exchanges offer this feature. Buying ApeCoin works in the same way as buying any other cryptocurrency. The main difference between buying Bitcoin or Ethereum and ApeCoin is that the latter is not supported by all leading cryptocurrency exchanges. Investing in cryptocurrencies, decentralized finance (DeFi), and other initial coin offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile.
Who runs and manages ApeCoin?
Every single platform on Ethereum supports MetaMask so it’s an easy choice. You can install it on Google Chrome and use it as an extension, making it a convenient option for users that want to use DeFi or buy and sell NFTs. This will bring attention to the project and could raise the floor price.
Alternatively, you could purchase ApeCoin on a decentralized exchange by swapping another cryptocurrency for it. As APE is an ERC-20 token, you could swap Ethereum-based stablecoins or ETH on a decentralized exchange like Uniswap for ApeCoin, for example. Moreover, numerous crypto wallets also offer in-app token swapping, enabling you to swap other ERC-20 tokens for APE. For investors, ApeCoin provides investment exposure to the Web3 ecosystem built on the Bored Ape brand. Thanks to the popularity of the Bored Ape Yacht Club, ApeCoin is available on many exchanges already. The buying process is easy, and it’s generally similar to purchasing any other cryptocurrency like Bitcoin, Ethereum or Dogecoin.
You may also be asked questions about your income and your level of expertise as an investor. Let’s take a look at the requirements to open an account on a crypto exchange. In addition to making direct purchases of APE, you can also consider setting up limit orders to target your ideal price.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page. ApeCoin (APE) is in the top 1,000 cryptocurrencies by market cap, valued at $756,225,691. Deposit crypto you already own from any supported network and trade it into APE via the Uphold app. Here are the different payment methods you can choose to buy APE on Uphold. ApeCoin will almost certainly correlate to Yuga Lab’s success, albeit the ApeCoin DAO manages the token treasury.
While purchasing ApeCoin on a crypto exchange is arguably the simplest option, you could also purchase APE on a peer-to-peer (P2P) exchange or a decentralized exchange (DEX). The Bored Ape Yacht Club (BAYC) is a highly popular NFT collection composed of 10,000 unique images of cartoon apes. During the height of the NFT boom in 2021, Bored Ape emerged as one of the most popular NFTs, with rare Apes selling for hundreds of millions of dollars. Using YouHodler’s innovative crypto multiplication tool, APE traders can multiply APE in both bear and bull markets.
If you don’t already have an account set up with a cryptocurrency exchange, it only takes a few minutes to get started. An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading ApeCoin. Alternatively, you could deposit APE tokens on Binance to make use of Binance Earn accounts that enable you to earn yield on your ApeCoin holdings for a set period of time. While the yields offered are high, they come with the risk of leaving your funds on a centralized exchange, thus giving up control over your crypto. Finally, make sure to transfer your APE tokens from the exchange to your personal, non-custodial crypto wallet that supports ApeCoin.
