ApeCoin (APE) is the hottest new coin in the market and is already seeing explosive growth.
The cryptocurrency has been created by Yuga Labs who are the team behind the popular Bored Apes Yacht Club NFT.
The APE token was initially airdropped to NFT holders but is now available for anyone who wants to buy or trade it.
Read on to find out how to get involved.
Best Brokers to Buy 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.
Best platform: eToro
Top payment method: Credit/Debit card, bank transfer
Security measures: activate 2-factor authentication, never reuse passwords, and store coins in a private wallet if possible
Do not: invest with money you cannot afford to lose
What Is the Difference Between Owning ApeCoin VS a Derivative Product
There are different trading markets in the world of cryptocurrencies and it’s important to know the differences so you can make more informed decisions. This will be explained in more detail below:
Owning: When you buy ApeCoin from a cryptocurrency exchange through the spot markets, you own the underlying asset: APE. You can then withdraw and spend it anywhere you wish.
Derivative Products: These are financial products that allow you to speculate on the price of an asset, without owning the underlying asset. Essentially, the aim is to buy low and sell high. You can even make money when the price goes down by “shorting” the market. These markets allow you to avoid the technical sides of crypto with regards to storing and securing assets on a wallet.
For many beginners, this is a preferred choice.
Different Ways to Buy ApeCoin
Cryptocurrency brokerages: eToro
Cryptocurrency exchanges: Binance, Coinbase
Where to Buy ApeCoin
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|1. eToro||4.8||Visit Websiteetoro.com||This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC) which is highly volatile, unregulated in most EU countries, does not fall under EU protections & is not supervised by the EU regulatory framework. Investments are subject to market risks, including the loss of principal.|
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How to Buy ApeCoin Online?
For most newcomers, brokerage platforms such as eToro are preferred due to their easy sign-up process and beginner-friendly user interface. In this section, we have provided a step-by-step guide on how to make your first ApeCoin purchase:
Step 1: Sign Up for an Account
Step 2: Verify Your Identity
Step 3: Use the Search Bar
Step 4: Purchase APE
How to Trade ApeCoin?
You can trade ApeCoin on both exchanges and brokerage platforms, but as a beginner it may be worth getting started on the latter due to the user-friendly interface they have created.
One of the most popular platforms is eToro, where you can take advantage of the innovative CopyTrader feature, which enables you to automatically copy the trades of experienced APE traders.
Crypto Investment Strategy
Trading strategies can determine how long you hold your coins. Deciding what you want to do before investing your money can help you be better prepared in case something happens.
Short-term: This is the process of buying and selling the coins in a short period of time for some quick profits. In essence, the aim is to buy low and sell higher.
Long-term: If you believe in the future potential of a coin, then you can purchase and hold it for a long period of time as it could return greater profits in the long run.
How to Store ApeCoin?
There are different types of wallets to store ApeCoin and this will be outlined below.
Hot Wallets: These are applications that you can download for free on your PC or phone and they allow you to store a number of different coins including ApeCoin. Popular wallets include Trust Wallet and Coinbase Wallet.
Cold Wallets: Cold wallets are referred to as such because they are not connected to the internet. They can come in many forms including a simple piece of paper that contains the seed phrases / private keys to a wallet. Another popular form of cold wallet is a hardware wallet such as Ledger or Trezor. These wallets require users to physically approve transactions before they are sent out. That way, online attackers are unable to steal funds from the wallet without having direct access to the device.
What Are the Different Ways to Pay for ApeCoin?
There are many different ways to pay for ApeCoin and fortunately, some of these may include methods you are already familiar with. The most popular ones have been listed below along with their pros and cons.
Credit / Debit card
Credit / Debit Cards
What to Consider When Buying ApeCoin?
Here are some important things to consider before parting with your hard-earned money:
Volatility: Cryptocurrencies are volatile assets and ApeCoin is no exception. In its short time on the market, APE has already had huge price swings. You should know what to expect before investing in such a coin.
Fees: It’s worth checking the fees that platforms charge so you can get the best value for your money.
Regulation: Different countries have varying stances when it comes to cryptocurrencies. Check the laws in your jurisdiction to ensure you stay on the right side of the law.
Availability: Not all platforms will offer ApeCoin markets. Do some research before creating an account to save yourself some time. The platforms outlined above have active markets.
Long Vs Short-term Holding: As mentioned above, it’s important to have a strategy in mind before investing. That way, you can take timely profits and be better prepared in case something goes wrong. For example, if you are holding for the long term, then short-time price fluctuations wouldn’t necessarily change your long-term thesis as long as nothing fundamentally has changed.
Is It Safe to Buy ApeCoin Online?
When you are creating an account, make sure you don’t reuse passwords from other websites and activate 2-factor authentication as soon as possible. This can add an extra layer of security to your account.
Finally, consider withdrawing your coins and storing them in a private wallet if the platform allows you to do so. That way, if the platform gets hacked, your funds will not be affected.
How to Sell ApeCoin?
Selling ApeCoin is just as easy as buying the coins in the first place. Simply navigate to the trading page for ApeCoin and click Sell instead of Buy. You can choose the amount of APE you want to sell and swap it for a fiat currency or another cryptocurrency.
Is It Worth Buying ApeCoin Right Now?
ApeCoin is the hottest new coin on the market and has received over $4 billion of trading volume in its first 24 hours.
It was created by the same company behind Bored Apes Yacht Club NFT which has attracted buyers from all over the world, including celebrities such as Brazilian footballer Neymar, pop star Justin Bieber, and billionaire investor Mark Cuban and more.
Since it is such a young project, caution is advised as the price action is currently very volatile and the market hasn’t had sufficient time to value it properly.
Do your own research before getting involved.
For most people who are interested in cryptocurrencies, eToro is the go-to platform due to its beginner-friendly interface and numerous trading tools that help you make more informed decisions.
The most popular payment methods include debit cards and bank transfers.
After the initial setup, you can deposit and withdraw with ease.
It’s highly recommended that you never reuse the same passwords for different accounts and activate 2-factor authentication as soon as you sign up.
As always, only invest with money you can afford to lose because gains are not guaranteed.