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ApeCoin is an ERC-20 token operating on the Ethereum blockchain that enables holders to gain access to a variety of products and services offered by the APE ecosystem and vote on the future direction of the Web3 project. To purchase APE coins on a P2P exchange, you first need to choose a marketplace that supports ApeCoin, sign up for the platform, and complete the verification process. https://www.xcritical.com/ Next, scroll through the available offers to buy ApeCoin for a payment method that works for you. These marketplaces typically use escrow to enhance security, but it’s still advisable to only trade with users with high trust ratings.
How to get Ape and Pepe through other methods？
There is a maximum total supply of 1 billion APE (1,000,000,000 APE). At the time of writing (May 2022), roughly 29% of this is supply is in circulation, trading for $7.46 for a market capitalisation of $2.18 billion. Many serious crypto investors would criticise ApeCoin as another run-of-the-mill crypto with no true utility to support sustainable value. As pointed out in previous sections, there really isn’t much you can use APE for at the moment, other than to access a mobile game to earn even more crypto. With an all-time high price of $39.40 in April 2022, however, APE fell more than 80% in less what is ape coin than a month, faring much worse in the current bearish market than more established crypto like Bitcoin and Ethereum.
How Many ApeCoin (APE) Tokens Are There?
As soon as your order is filled, you will receive the APE tokens on your exchange account. 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. ApeCoin is the currency to participate in Yuga Labs’s Otherside metaverse which is a virtual world connected to the BAYC ecosystem in the form of an open MMORPG. The Otherside Metaverse introduced land NFTs called Otherdeeds that can only be minted using ApeCoin which adds to its long-term utility in the project.
When Was ApeCoin (APE) introduced?
ApeCoin will also presumably be compatible with other prominent NFT collections, including Mutant Ape Yacht Club, CryptoPunks, World of Women, and Cool Cats. Despite all of these factors, you still need to exercise caution because the coin is inherently linked to NFT-related volatility. For instance, there are various fur types, facial expressions, outfits, jewelry, and other accessories in the BAYC NFT collection. Only 49 of the Bored Apes have a dagger in their mouth, 108 have robot eyes, and 115 wear earrings with a cross. Additionally, the coin is already used as NFT rewards, and BAYC holders received free APE that they can immediately cash in. Right now, ApeCoin mostly exists for speculation and “governance” for the DAO.
Step 4: Securely store your ApeCoin in your personal wallet
The token also exists to incentivize third-party developers to participate in the APE ecosystem by building applications that incorporate ApeCoin. Alex is a banker-turned-bitcoiner who ditched the bond trading desk for working remotely from all corners of the world, creating engaging and educational content for Bitcoin startups and crypto media publications. Investors who could not afford a BAYC ape hurried to buy an ApeCoin because it is less expensive than an Ape NFT. Furthermore, the goal is to not lose out on a fantastic opportunity to get the coin at a low price.
As an ERC-20 token, the Apecoin network is secured and ApeCoin is fully compatible with the Ethereum ecosystem and can be stored in any wallet that supports ERC-20 tokens. ApeCoin is a relatively new cryptocurrency, so it’s important to conduct thorough research and analysis before making any long-term investment decisions. ApeCoin is an ERC-20 token, a particular flavor of build-it-yourself cryptocurrency on the Ethereum blockchain.
The founding roots of ApeCoin lie in the NFT series Bored Ape Yacht Club (BAYC), a creation by Web3 company Yuga Labs. Bored Ape Yacht Club is the first NFT series in the ecosystem, consisting of 10,000 unique digital avatars featuring colorful cartoon apes. ApeCoin DAO members vote as a community on issues impacting the direction of the ecosystem’s growth, from how funds are allocated, how rules are enforced, what partnerships to pursue and which projects to undertake.
Its Proof-of-Stake consensus algorithm and NFT marketplace are among its notable features. Additionally, ApeCoin has partnerships with other projects in the crypto space, which could provide further growth opportunities in the future. The value of ApeCoin in 2030 will depend on a variety of factors such as market demand, adoption rate, regulatory changes, and competition from other cryptocurrencies.
ApeCoin’s unique features and ecosystem create a strong foundation for its growth potential. Additionally, the team behind ApeCoin has a clear vision for the project’s future and is actively working towards achieving its goals. While it is impossible to predict with certainty the price of ApeCoin in 2030, the project’s promising potential and dedicated team suggest that it could do well in the coming years. As always, it is important to conduct thorough research and analysis before making any investment decisions. The increase in ApeCoin’s price can be attributed to several key factors.
- ApeCoin ($APE) is a cryptocurrency built on Ethereum by Yuga Labs and used by Bored Ape Yacht.
- ApeCoin (APE) is a utility token on the Ethereum blockchain network.
- Alex is a banker-turned-bitcoiner who ditched the bond trading desk for working remotely from all corners of the world, creating engaging and educational content for Bitcoin startups and crypto media publications.
- To fortify the ecosystem supporting Yuga Labs’ apps and services, as well as those of third-party brands, the introduction of ApeCoin became pivotal.
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. ApeCoin is managed by a decentralized autonomous organization, or DAO, and serves as the APE ecosystem’s governance and utility token.
However, the token’s value later dropped significantly due to market fluctuations and the broader crypto market’s bearish sentiment. You can simply buy ApeCoin (APE) on the Coinmetro exchange in just a few seconds. Sign-up for an account, if you are not already registered, deposit funds instantly and buy APE and 60+ other crypto assets with just a few clicks. Another aspect that sets ApeCoin apart is its role in incentivizing third-party developers to build applications that incorporate ApeCoin.
It is essential to understand that ApeCoin is not officially launched by Yuga Labs, the parent company of Bored Ape Yacht Club. Currently, approximately 36.8% of the total supply is already in circulation. These collections, which are more akin to collectible trading cards, can include any number of NFTs. In this process, new variations are algorithmically generated by a computer program to produce large editions. The collection’s NFTs are currently worth about $200k each, so if you sold every one of them, you could earn billions of dollars. Yuga Labs promises that it will become the coin of choice for a new metaverse ecosystem.
Any person in possession of the coin is qualified to vote on the pertinent governance decisions. Almost every major centralized crypto exchange listed the token immediately after launch. This was an accomplishment in and of itself, given the notoriously finicky nature of major players like Coinbase (COIN).
That’s around $150,000 at today’s prices – about half of what you’d need to buy yourself another Bored Ape. Trade ApeCoin tokens for other cryptocurrencies like BTC, ETH, USDT, EUROC, and MATIC. All you need is to share your wallet address with the sender and check for a notification telling you when the coins are in your wallet. Zengo is a simple and secure non-custodial wallet that utilizes biometrics to keep your cryptocurrencies safe anywhere you go.
However, like any other cryptocurrency, ApeCoin is looking forward to value addition. ApeCoin investors expect $APE’s growth to be similar to that of BAYC NFTs. Some Bored Ape and Mutant Ape holders who had already got airdropped tokens enjoyed the profit booking at its high prices. Further, the Foundation ensures decentralized governance and is directly involved in the actions of ApeCoin DAO. Besides, $APE will be used in Web3 initiatives of the APE ecosystem. After long waits by the BAYC fanatics, on 17th March, ApeCoin announced its arrival through Twitter.
ApeCoin is working with various organizations to develop innovative ways to use blockchain technology to track and verify donations to wildlife conservation efforts. This focus on social impact and environmental sustainability sets ApeCoin apart from many other cryptocurrencies on the market. A mobile game called Benji Bananas, developed by Animoca Brands (whose co-founder, Yat Siu, is on the board of the Ape Foundation), is adopting ApeCoin as a kind of in-game currency. For 25 ApeCoins, you can buy a Benji Bananas Membership Pass, which lets you earn “special tokens” in-game. Because APE has a discrete value and is already trading on major exchanges, claiming these coins is a little like claiming free money.
Having said that, DEXs are unregulated, and there is no customer protection if funds are lost due to hacks. Investing in cryptocurrencies, decentralized finance (DeFi), and other initial coin offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile. Consult with a qualified professional before making any financial decisions. This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed.
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