Launched on March 16, 2022, the ApeCoin cryptocurrency has already become one of the largest crypto assets by its market cap. It’s a utility and governance token created by Yuga Labs which is mostly famous for its Bored Apes Yacht Club NFT collection. Hence, this drastic popularity of the ApeCoin project is mostly due to the fact that the BAYC ecosystem has already won a strong place in the NFT market.
What is the purpose of the ApeCoin cryptocurrency? Is it a good investment and should you buy it right now? This guide covers everything you need to know about ApeCoin APE and introduces the best platforms to buy ApeCoin in the USA.
Where To Buy ApeCoin (APE) Coin In The USA - Best Brokers And Exchanges
Though ApeCoin is a brand-new cryptocurrency it is already listed on several leading crypto exchanges and brokerage platforms. But how could you know which trading platform is a good choice for you? There are several factors that can influence your choice, including its security systems, pricing structure, the number of coins supported, payment options, easy-to-use interface, and several other secondary features.
To save your time in this research we have already conducted detailed analyses and picked the best cryptocurrency exchanges to buy ApeCoin APE online in the US.
Here are the best exchanges to buy ApeCoin (APE) coins in the US that we have chosen after doing a thorough analysis of several platforms.
- Binance - Best platform to buy APE in the US for asset diversity
- Coinbase - Best place to buy ApeCoin (APE) for beginners
- OKEx - Best site to buy APE in the US for low-cost
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Virtual currencies are highly volatile. Your capital is at risk.
What Is ApeCoin?
ApeCoin is an Ethereum-based cryptocurrency project that was created to serve the Bored Apes Yacht Club NFT ecosystem. It’s an ERC-20 token that is used as a utility token within the BAYC community where APE holders get access to its exclusive events, merchandise, play-to-earn games, and other services.
The BAYC project was founded in 2021 by Yuga Labs and garnered a lot of popularity in the NFT industry with its 10,000 unique drawings. Many of these drawings have been traded for more than a million dollars apiece and are owned by such celebrities, as Eminem, Snoop Dog, DJ Khaled, Gary Vaynerchuk, Justin Bieber, and many others.
Bored Apes from the BAYC NFT collection
On March 16, this year, Yuga Labs also announced the launching of the APE token that is built to power the BAYC ecosystem. According to their announcement, APE coins will be also distributed among the BAYC NFT owners. Plus, ApeCoin will also be used within the Animoca Brands ecosystem which is a gaming company founded by Yat Siu. One of the use cases will be in the Benji Bananas video game where users can buy Membership Pass through 25 APE and play the game to earn tokens that can be swapped with APE coins.
How ApeCoin (APE) Works and What Affects its Price?
As mentioned already, the APE coin is an ERC-20 token-based cryptocurrency that will be used mainly in two ways - as a utility token and as a governance token. As a utility token, it will serve the Bored Apes ecosystem and Animoca Brands and APE holders can get access to different parts of these ecosystems. The APE token also acts as a governance token within the ApeCoin DAO organization where APE owners can vote on the decisions related to the token.
As APE is created to be the native token of the BAYC industry, its success is strongly associated with the popularity and adoption of the Bored Apes NFT ecosystem. The Bored Apes Collection has already garnered huge attention in the market, and if it continues its development and success in the industry, the APE value will increase consequently.
Read Also: Could ApeCoin Be A Millionaire-Maker Coin?
Is ApeCoin (APE) A Buy Right Now?
It is still hard to guess whether ApeCoin is a good investment or not, that’s why you should consider the risks before putting any money into it. Considering the fact that it’s backed by a well-known NFT project, the cryptocurrency has a good potential to become the future of the NFT tokens if it can beat the competition in the market.
Still, there are some risks associated with the NFTs, as several experts consider it a bubble that will burst one day. But for now, NFTs are experiencing significant growth in the market, and are adopted by a lot of people. So, you can challenge your trading skills and buy ApeCoin tokens in small amounts or invest in it as much money as you can afford to lose.
Check Out: Should You Buy ApeCoin (APE)? 5 Pros, 5 Cons
How To Buy ApeCoin (APE) Online In The US - A Step by Step Guide
If you are curious about investing in ApeCoin and don’t know where to start, we introduce a step-by-step guide and walk you through the whole process.
1. Register for an Online Account
Visiting the website of your favourite brokerage platform, you will need to open an account on it. So, click on the “Sign up” button and fill in the required details which mainly include your name, surname, birth date, etc. You will also need to verify your account with an email and a phone number and create a username and password for it.
After this, you must go through the advanced verification process which includes ID and Address verification.
2. Deposit Funds
When you finish the first step, you can then deposit money into your account using a bank card, an e-wallet, or a bank transfer.
3. Buy ApeCoin
Now, your account is fully prepared to invest in ApeCoin. To find the crypto asset, search APE in the appropriate section, click on the “Buy” button, and fill out the necessary fields. Many crypto exchanges will also enable you to choose between market and limit orders. Give a final check to the details and complete the transaction to get the APE tokens.
4. Transfer Your Funds to a Hardware Wallet
It is recommended to transfer your coins to a hardware wallet if you invest in huge amounts and intend to keep them for the long term. A hardware wallet is the safest storage for your crypto assets: it is a physical device that stores your coins offline. As ApeCoin is an ERC-20 token, all the hardware wallets that are compatible with the ERC-20 token can be used for storing APE tokens as well.
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Virtual currencies are highly volatile. Your capital is at risk.
How To Trade ApeCoin (APE) In The USA - A Step by Step Guide
If you think that short-term investments in ApeCoin are more reasonable and want to generate interest by trading APE, here is a complete guide that explains how to trade ApeCoin in the US.
1. Register for an Account
In the first place, select a brokerage platform with cost-effective fees and a quickly operating interface and create an account on it. Registering for an online account will take you a couple of minutes but then you need to also verify it by providing an ID copy or another document which may differ depending on the platform.
2. Deposit Money into Your Account
Moving forward, you must deposit money in your exchange account. There are multiple methods you can do it. Using a bank card is the fastest way but it is also more pricey compared to the wire transfer or e-wallet option. While the latter two are more cost-effective they take more time than bank card options. So, it’s up to you to decide considering your trading goals and budget.
3. Develop a Trading Strategy
Advanced traders use a trading strategy that they build based on thorough research related to the market, the tradable asset, and other factors that can influence its price. Trading strategies help you reduce the losses, make your trades more reasonable and increase your rewards. Hence, you had better adopt a trading plan suitable for the asset you are going to trade or follow and copy the trades of an expert trader.
4. Start Trading ApeCoin
Now, you are fully ready to start trading ApeCoin. For this purpose navigate the list of coins to find it or just search APE on the search toolbar, click on the “Trade” button and type the amount you want to buy. After you complete the transaction, APE coins will be immediately transferred to your account.
ApeCoin (APE) Advantages And Disadvantages
To get the whole picture of this cryptocurrency project, we have listed the most crucial advantages and disadvantages of ApeCoin that will contribute to your trading experience.
Advantages:
✅ ApeCoin gained significant popularity in just one month.
✅ Belongs to Yuga Labs which is already famous for its Bored Apes NFT collection.
✅ APE is the native token of the BAYC ecosystem and grants access to its holders to various parts of the ecosystem.
✅ The APE token is also adopted by the Animoca Brands gaming company.
✅ APE holders are members of the ApeCoin DAO organization and can vote on decisions.
✅ APE is easy to buy and is supported by many reputable crypto exchanges.
Disadvantages:
❌ There is strong competition among the NFT tokens.
❌ NFTs are still not well-established and investing in them involves high risks.
What Is ApeCoin (APE) Price Prediction?
According to the cryptocurrency price prediction algorithms, ApeCoin will experience a growth in value over the upcoming years. Two of the platforms that we considered indicate bullish price predictions for the cryptocurrency while the third one shows slow growth.
The most bullish predictions are those of the Price Prediction platform which shows that ApeCoin can reach a maximum price of $21 this year. While Wallet Investor and Digital Coin Price indicate a little rise equal to $13 and $14 respectively.
| Year | Minimum Price | Average Price | Maximum Price |
|---|---|---|---|
| 2023 | $26.37 | $27.12 | $31.89 |
| 2024 | $36.55 | $37.90 | $45.26 |
| 2025 | $55.18 | $56.70 | $63.16 |
| 2026 | $76.97 | $79.23 | $96.21 |
| 2027 | $112.29 | $116.25 | $133.00 |
Moreover, Price Prediction calculations indicate that the ApeCoin token will hit $100 in 2027 with an average price of $116, while according to the Digital Coin Price the average value of the cryptocurrency will be $24. The Wallet Investor is even more pessimistic foreseeing that the coin will be traded at $20 in 5 years.
Don't Miss: ApeCoin (APE) Price Prediction
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Virtual currencies are highly volatile. Your capital is at risk.
How Do I Mine ApeCoin (APE) In The USA?
ApeCoin is an ERC-20 token meaning that it does not require powerful devices for mining as Bitcoin does. Instead, its blockchain relies on the Proof of Stake mechanism and you can make rewards by just staking your APE tokens. For this purpose, you need to find a platform that supports APE staking and lock up the number of tokens required for staking.
What Is The Total Supply Of ApeCoin?
The total supply of ApeCoin cryptocurrency is 1,000,000,000 APE tokens and 277,500,000 APE coins are already in circulation. The current value of the cryptocurrency is $11.26, so it raises a market cap of $3 billion and gets ranked #46 on market cap charts.
Things To Consider Before You Invest In ApeCoin (APE) In The US
In short, ApeCoin is rather a speculative cryptocurrency but has become quite attractive due to its parenting project - Bored Ape Yacht Club. The latter is a successful NFT collection and has positively influenced the reputation of the APE token. Still, it’s hard to predict whether Apecoin can repeat the success of the BAYC ecosystem and become as popular. But the cryptocurrency is strongly associated with the BAYC ecosystem which can influence a lot on its future value.
Apart from being a governance and utility token, ApeCoin is also a tradable asset. It’s available on several cryptocurrency exchanges. To buy APE in the US, select the platform that accepts US customers and create an account to make the purchase.
FAQs On How To Buy ApeCoin In The US
What is ApeCoin?
ApeCoin is an ERC-20 token-based cryptocurrency that is the native token of the BAYC ecosystem and is also a governance token for the ApeCoin DAO project.
How is ApeCoin used?
There are various use cases for the ApeCoin token. As a utility token, it grants access to different exclusive parts of the BAYC ecosystem, as a governance token it enables its owners to vote on APE-related decisions, etc.
How to buy ApeCoin in the US?
To buy ApeCoin in the US, you must open an account on a cryptocurrency exchange that lists APE tokens, deposit funds on your account and purchase the number of coins you want.
Is ApeCoin a good investment?
As an NFT token, ApeCoin is a risky investment but it can be considered a good investment if it gets good adoption in the market.
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