ApeCoin is the governance and utility token launched by Yuga Labs, the company behind the popular Bored Apes Yacht Club NFT collection.
The token gives holders voting rights on decision-making for the Bored Ape ecosystem.
In this article, we will cover how to buy ApeCoin along with other important information to keep in mind such as how to secure your accounts and store your assets safely.
Read on to find out all there is to know.
Best Way to Invest in ApeCoin in 2023
Nowadays, there are many different platforms to choose from when it comes to buying cryptocurrencies.
To save you the hassle of looking, we have listed the top beginner-friendly platforms below to help you get started right away.
What Is ApeCoin - Quick Overview
| Name and ticker | ApeCoin (APE) |
| Date launched | March 2022 |
| Circulating supply | max supply: | 168,686,740 | 1,000,000,000 |
| Blockchain network | Ethereum |
| Creators | Yuga Labs |
| Use-cases | Governance and Utility |
| Famous backers | Andreessen Horowitz, Animoca Brands, The Sandbox, Mark Cuban |
| Social media | Twitter | Reddit |
What is ApeCoin - Explained
ApeCoin is the governance and utility token launched by Yuga Labs, who are the creators behind the Bored Apes Yacht Club NFT.
While the exact utility of the coin is yet to be determined, it is understood that token holders can vote on the direction and decision-making of the ape ecosystem.
Yuga Labs is backed by some huge names including Andreessen Horowitz, Animoca Brands, The Sandbox, Adidas Ventures, Mark Cuban, Snoop Dogg, Timbaland, Samsung and more.
How To Buy ApeCoin
Due to the popularity of the Bored Ape project, ApeCoin is already available on the top cryptocurrency platforms including:
Cryptocurrency Brokerages - e.g. eToro (best for beginners)
Here’s how it’s done on eToro for example:
Step 1: Go to the official eToro website and sign up for an account
Step 2: Provide the required identification documents for KYC/AML regulation
Step 3: Add your desired payment method, this could be a credit/debit card or a bank transfer, and deposit some fiat currency (USD, GBP etc) into your account
Step 4: Use the search bar to find the ApeCoinmarkets, e.g. APE
Step 5: Enter the number of APE coins you wish to purchase and confirm the transaction
Step 6: The coins should appear on your open positions page shortly after
You can click here for a full guide on How to Buy ApeCoin.
How To Sell ApeCoin
Selling ApeCoin is just as easy as buying it in the first place.
You can follow these steps to guide you.
Step 1: Go to the eToro homepage and log in.
Step 2: Press the ‘portfolio’ button and here you will see all your open positions, including the one in ApeCoin.
Step 3: On the right-hand side, you will see a small cross. To sell your ApeCoin holdings, simply press the cross and ‘close trade’
Step 4: The funds you used to open the position will appear in your account balance shortly after along with any profits you may have made during this time.
Alternative Ways to Invest in ApeCoin
Aside from the platforms outlined above, there are other ways you can purchase ApeCoin as well. These are slightly more technical and require
Cryptocurrency Wallet Apps - some wallets have decentralized exchanges installed on them. You can purchase ApeCoin using other cryptocurrencies through this method.
Cryptocurrency Exchanges - ApeCoin is also available on cryptocurrency exchanges however, these platforms are typically more complicated to use than brokerages.
Is It Safe to Invest in ApeCoin Right Now?
ApeCoin has only been trading in the markets for a short period of time however, it has already demonstrated significant volatility.
With billions of dollars in trading volume so far, there is clearly a lot of interest in the coin but that does not necessarily mean it’ll appreciate in value.
Price fluctuations can happen in both directions and that has certainly been the case for APE.
That is because cryptocurrencies are highly volatile assets and APE is no different.
To protect yourself, only invest with money you can afford to lose as profits are not guaranteed.
