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How To Buy ApeCoin Online in 2022

Last updated 13th May 2022
Disclosure

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 2022

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.

1
eToro
Minimum Deposit
$200
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
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, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

Key Takeaways

  • 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, FTX

Where To Buy ApeCoin

eToro

Pros

Easy sign-up process. Plenty of payment options. Uses derivative products which means users can avoid the technical side of crypto. Beginner-friendly

Cons

In some cases, you cannot withdraw assets from the platform.

Binance

Pros

More coin availability than brokerages. Can buy at market price. Can withdraw assets at any time.Price of assets may be higher than on exchanges.

Cons

Less beginner-friendly. Platform may be complicated to use at first. Withdrawal fees can be high

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:

  1. Go to the official eToro website and sign up for an account

  2. Provide the required identification documents for KYC/AML regulation

  3. Add your desired payment method, this could be credit/debit card or a bank transfer, and deposit some fiat currency (USD, GBP etc) into your account

  4. Use the search bar to find the ApeCoin markets, e.g. APE

  5. Enter the number of APE coins you wish to purchase and confirm the transaction

  6. The coins should appear on your open positions page shortly after.

How To Trade ApeCoin?

You can trade ApeCoin on both exchanges and brokerage platforms however, 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 and the steps below show you how to get trading:

  1. Go to the official eToro website (beware of scams on Google) and create an account

  2. Verify your details by providing ID and any other KYC requirements

  3. Add your preferred payment method such as credit/debit card and deposit some money into the account

  4. Use the search bar to find the ApeCoin markets and open a position

  5. When the price reaches a point you are happy with, go to your portfolio to view your open positions

  6. Press the small red cross and confirm that you want to ‘close the trade’

  7. The fiat currency you purchased with, such as USD or GBP should appear in your account balance shortly after along with any profits you may have made.

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

  • Bank transfer

  • PayPal

Credit / Debit Cards

Pros

Familiar process if you have made online purchases before
Easy deposits and withdrawals after initial set up
Widely accepted

Cons

You need to share your card details online
Some platforms will charge you fees for deposits and withdrawals

Bank Transfer

Pros

Once set up, subsequent deposits and withdrawals are fast
Widely accepted

Cons

You need to share your card details online
May incur fees for using this option

PayPal

Pros

Easy to set up if you have an existing account
Fast deposits and withdrawals

Cons

Not as widely accepted as other payment methods
Some platforms may charge extra fees for this option

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?

The first step is to find a regulated platform such as eToro. These have industry-grade security in place as well protections in case something goes wrong.

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. Follow this guide to get you on your way:

  1. Go to the eToro homepage and log in.

  2. Press the ‘portfolio’ button and here you will see all your open positions, including the one in ApeCoin.

  3. On the right-hand side, you will see a small cross. To sell your ApeCoin holdings, simply press the cross and ‘close trade’.

  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.

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, 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.

Final Thoughts

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/credit cards as well as 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.

FAQs

Can I buy ApeCoin without an ID?
Can I buy ApeCoin instantly?
Is there a limit to how many ApeCoin I can buy?
Khashayar Abbasi

Khashayar Abbasi

Khashayar discovered Bitcoin back in 2014 and has since spent countless hours researching the different use cases of cryptocurrencies. He has a bachelor's degree in International Relations and has been a writer in the financial services industry for nearly half a decade. In his spare time, Khashayar enjoys photography, cycling, and ice skating.