Is it worth investing in ApeCoin, or is it better to trade APE right now?
ApeCoin is an ERC20 token that incentivizes and empowers decentralized community building which is at the forefront of the Web3 revolution.
APE is a cryptocurrency that was inspired by the Bored Ape Yacht Club (BAYC) and the Mutant Ape Yacht Club (MAYC) by Yuga Labs.
The question is, can BAYC and MAYC drive the ApeCoin project without additional contributing factors?
Only time will tell, but the ApeCoin community is determined to do everything they can to introduce millions of people to the non-fungible token (NFT) space.
ApeCoin gained more than 3,000% on its first day of trading and has returned more than 1,000% for investors who are still holding onto the token, as of April 2022.
Suppose you invested $10,000 in ApeCoin when it traded for $1, you could have bought around 10,000 APEs.
Suppose you chose to sell the coin when it reached an all-time high price of $39.40, your investment could have matured to $394,000. In the event you chose to forgo this, and instead hold the coin for the long term, your investment could have matured to around $100,000 in April 2022.
In the fourth month of 2022, APE continues to trade in the range of $10 to $15.
This has brought forth several questions such as is now the right time to buy ApeCoin? Should you trade or invest in APE right now? Is it better to trade ApeCoin right now?
Follow this article in its entirety as we discuss whether to invest or trade ApeCoin for the rest of 2022.
Who Founded ApeCoin?
Although Yuga Labs, the team behind BAYC and MAYC have made several attempts to deny their involvement in the APE project, it is widely known across crypto circles that they founded ApeCoin. ApeCoin was launched on March 17, 2022, to great expectations.
On the day of its launch, the team made it known that there would be 1 billion APEs in total supply.
Out of this, 30.75% were released into circulation.
The ApeCoin Foundation which comprises personnel from the cryptocurrency exchange, FTX, Horizen Labs, and Reddit is managing the project.
They have outlined a roadmap that could transform the ApeCoin ecosystem in the not-too-distant future.
With a strong presence online, APE has thousands of followers on Twitter, Discord, Reddit, Instagram, Facebook, and Telegram.
How Does ApeCoin Work?
ApeCoin is housed in the ecosystem of Ethereum. As a result, it leverages smart contracts to create decentralized protocols and applications (DAPPS).
ApeCoin is an ecosystem comprised of a single token.
APE plays two roles. It is the native asset that settles transactions in the ApeCoin ecosystem. In addition to this, it is a governance token that confers voting and decision-making rights on holders.
As of April 2022, due to Ethereum’s transition to the proof-of-stake (POS) network which has not been completed, ApeCoin can be considered a proof-of-work (POW) protocol.
This means that APE is a proof of work coin that goes through the technical process called mining.
So far, APE as a utility token has been listed by BC.GAME, TIME Magazine, and Benji Bananas as a payment method.
With time, APE could be supported by millions of merchants which will see the coin involved in thousands of transactions daily.
Read More: What Is ApeCoin And How Does It Work?
Investing In ApeCoin (APE)
Before investing in ApeCoin, it would be in your interest to consider several drivers of the digital asset’s price.
The market is still bearish in April 2022 after reaching new milestones in November 2021.
This has seen several cryptocurrencies being traded for stablecoins such as the United States Dollar Tether (USDT), the United States Dollar Coin (USDC), and the Binance United States Dollar (BUSD) among others.
Once this happens, you should know that traders and investors are trying to avoid large percentage losses in the short term.
Therefore, you need to take an extensive stake in the ApeCoin project.
Some of the questions you should be asking is, does the ApeCoin crypto project have real-world usage cases in addition to a roadmap that could see several milestones completed?
At a price below $20, APE has become a low barrier to entering the crypto finance market.
Due to the negative crypto market, a great opportunity has been provided for novice or beginner traders to buy the dip.
With $1,000, you can buy 66 APEs, $10,000 can buy you 666 APEs, and $100,000 can afford you 6,666 ApeCoins.
Once the token reaches $100, your $1,000 investment could grow to $6,666, $10,000 could mature to $66,660, and $100,000 could increase to $666,600 someday.
Based on the price forecast by some of the most reputable crypto news and forecasting portals (Coin Journal, Price Prediction.net, Coin Data Flow, Wallet Investor, Digital Coin Price, and Changelly Blog), APE is an asset you should consider investing in with an eye on the long term.
Therefore, if you want to invest in APE now, you should have the end of 2025 as the period you would be willing to let your investments go.
If you are not impressed with the possibilities of the ApeCoin ecosystem due to its newness, you can invest in APE at a later time.
Many analysts believe ApeCoin could reach the highest possible price of $500 in the medium term.
Others foresee APE breaching the $1,000 price mark in the long term.
Whatever happens, investing in ApeCoin with an eye on the long term could become one of the best decisions you have ever made.
Don't Miss: ApeCoin (APE) Price Prediction
How To Trade ApeCoin (APE)
ApeCoin has become one of the go-to cryptocurrencies for several traders due to its extremely volatile nature.
There are several ways of trading ApeCoin and some of them are briefly discussed below.
First and foremost, buy and hold. You can buy APE on supported exchanges, and wait for the token to reach your price ceiling so that you can sell it off and lock in gains.
Secondly, you can day trade your ApeCoin for daily earnings.
Who is a day trader? This is a person who executes intraday strategies to profit from the price changes in a given digital asset. There are several techniques and strategies you can use to capitalize on the cryptocurrency market.
One of these strategies is news-based trading. As of writing, APE cannot increase based on an exchange listing since the token gained the support of all the biggest exchanges by volume on the day of its launch.
Therefore, APE can benefit from news around the Bored Ape Yacht Club or the acquisition of a new project by Yuga Labs.
In addition to this, APE could benefit substantially from the launch of applications in its ecosystem. Once that happens, there could be a spike in the price of the token.
Depending on how novice or experienced you are, you can take advantage of short-term percentage swings to make decent returns.
Another technique is called range trading.
Most of the articles you read online are called fundamental analyses. They deal with information retrieved from whitepapers, partnerships formed, and exchange listings that could lead to a price spike or recession.
With range trading, you need to take advantage of technical analysis.
With this, you are going to base your trading decisions on ApeCoin’s resistance and support levels.
This is what separates sophisticated traders (those who embark on fundamental and technical research) from unsophisticated traders (those who make investment decisions based on mere recommendations).
Moreover, scalping is another strategy that you can use to make numerous small profits on the small price changes that occur daily.
Lastly, you can use the technique of high-frequency trading. Normally abbreviated HFT, this is a method of trading that employs powerful computer programs to transact a large number of orders within seconds.
As a beginner trader, you can ask the experts about the latest software that can help you engage in high-frequency trading on ApeCoin.
Once you find the right computer program, you should know that you are on your way to enjoying enormous rewards periodically.
Therefore, follow all ApeCoin channels online, especially tweets from Yuga Labs, BAYC, and ApeCoin Foundation.
In addition to these, take advantage of ApeCoin’s Telegram and Discord channels.
This is where most events and promotions such as airdrops are announced.
Once you stay up to speed with the development of the project, there is a huge chance of you taking advantage of news content to improve your investment portfolio.
Due to the decentralized nature of cryptocurrencies, it would be in your interest to consider having a wallet if you want to invest in ApeCoin for the long term.
How To Set Up A Secure Wallet For Your ApeCoin (APE)
If you decide to invest in ApeCoin through a centralized cryptocurrency exchange (CEX), you should select an exchange that is secured with the necessary encryptions.
This is because your APEs will be held in a custodial wallet.
On the other hand, if you settle on storing your APEs in a crypto wallet, you need to choose one that guarantees security.
Among others, some of the crypto wallets we would like to recommend include but are not limited to MetaMask, Freewallet, TrustWallet, imToken, Coinbase, TokenPocket, and Ledger.
One of the decentralized exchanges that support the trading of APE is Uniswap V3.
You can link your MetaMask or TrustWallet to this exchange.
Kindly follow the steps below.
Firstly, create a wallet. On your Google Play or Apple Store, you can search for TrustWallet/MetaMask. Once you find the application, download it.
After it is installed on your smart device (mobile phone, tablets, and pads), create a password for your wallet.
After this, TrustWallet will generate passcodes (private keys) for your wallet.
They come in a minimum of 12 and a maximum of 24 words.
These are the security encryptions that protect your APEs from third parties.
Secondly, buy Ether (ETH). You can buy Ether from mainstream exchanges that support TrustWallet or MetaMask. Once you have Ether in your wallet, you can be set on buying APE.
Thirdly, connect your wallet to Uniswap. Search for this decentralized exchange and connect your TrustWallet or MetaMask to Uniswap V3.
Lastly, swap your ETH for APE. On Uniswap, you can begin swapping by clicking on select a token.
Once you go through the list and find APE, you can select it, and have APEs added to your wallet.
The simple way to store, receive and transfer crypto with eToro’s Money wallet.
Recap Of Is It Better To Invest Or Trade ApeCoin
We started this article by asking the question, is it better to invest or trade ApeCoin? The thing is you would be better off investing in ApeCoin than trading it daily.
ApeCoin is a little over a month old and has brought awesome gains to the portfolio of early investors. Breaking into the top 50 digital assets by market capitalization is a great achievement the project can rely on to reach greater heights in the future.
With that said, we should not forget that there are close to 19,000 cryptocurrencies in the market today. Therefore, invest in ApeCoin with caution. To put it simply, throw an amount of money behind APE that you can afford to lose.
What Does The Future Have In Store For ApeCoin?
Technical analysis posits that ApeCoin must break out of the price corrections and resistance of April 2022 before it can attain new milestones in the future.
The future shows a lot of promise for APE.
Aside from the support of BAYC, major stakeholders in the cryptocurrency space, and eToro, Binance, Coinbase Pro, OKX, and Crypto.com among others, APE could benefit from several pros.
In the future, ApeCoin could benefit from being a proof of stake cryptocurrency.
In addition to this, ApeCoin can soar based on consistent trading volume which confirms the token as an attractive investment. What’s more, ApeCoin could benefit from its communities across several social media channels.
Like Bitcoin and Ether, APE could be listed by mainstream corporations as a payment method, and this could lead to a rally in the price of the coin.
The most important driver to look forward to as an investor in the future is the improvement of ApeCoin’s ecosystem.
Once several applications are running on the ApeCoin protocol, APE will have several use cases outside its use as a transactional currency for settling payments in the mainstream.
Since utility is one of the attributes of a successful currency, being involved in many applications will confer more value on the token.
Lastly, ApeCoin could follow the path of Justin Sun (TRON) and Chanpeng Zhao (Binance) by moving onto an independent blockchain.
Once this happens, the entire ApeCoin ecosystem will move from being housed in the ecosystem of Ethereum to competing with Vitalik Buterin’s innovation in all areas of the space.
In such a scenario, APE could be testing all-time highs of Binance Coin (more than $600) and Ethereum (more than $4,000).
Where Can I Buy ApeCoin (APE)?
When it comes to the best places to buy ApeCoin, there are many. When it comes to the best ways to buy APE, there are several reputable exchanges.
As of writing, 58 exchanges support APE for trading.
Before you invest in APE through any of these exchanges, you must consider essential factors such as regulation, security, fees, ease of use, payment methods, limits, liquidity, speed, insurance, reputation, customer service, and geographical restrictions.
Out of the 58 exchanges, we would like to recommend eToro.
eToro has been in the business for 15 years and has operated without incident. The exchange is rated highly by critics and has more than 70 million users.
To buy ApeCoin (APE) from eToro
1. Create an account on eToro by following this link.
eToro is a centralized exchange and as a result, prioritizes regulation. Therefore, it would be in your interest to provide credible information.
Input legal details of your full name, home address, active phone number, and email address. For verification, your contact number, and email address will be verified first.
2. Verify your eToro account
Depending on how cooperative you are as a client, you can go through this process within minutes to an hour. Provide scanned images of a government-issued ID card that confirms the details of earlier input. Cards with your signature are mostly required.
In addition to this, provide scanned images of your credit card statement, utility bill, or bank statement which can be used to confirm the home address you earlier provided.
3. Deposit funds in the form of fiat.
Choosing from a range of payment methods supported by eToro (bank cards, bank transfers, and e-wallets such as PayPal, Skrill, Neteller, and others), deposit an amount of money that meets your investment goals.
4. Navigate to the ApeCoin Page.
On this page, you can order several ApeCoins, and eToro will process and add them to your crypto portfolio.
Open an account with eToro, deposit some funds with USD, and finally – trade ApeCoin from just $10.
Is It Better to Invest or Trade ApeCoin ― (FAQs)
Does ApeCoin have real-world utility?
Yes, APE has real-world utility cases.
The cryptocurrency can be used as a payment method on a crypto casino called BC.GAME.
In addition to this, ApeCoin has been listed by TIME Magazine for members that would like to subscribe to digital publications.
What’s more, if you play the video game, Benji Bananas, you can earn rewards through APE.
In the future, more partnerships will be formed, and this will expand APEs' utility.
How do I join the ApeCoin community?
Is It Worth Trading ApeCoin (APE) Right Now?
YES! You can buy and hold ApeCoin for the long term.
Aside from this, you can day trade the token, and earn periodical percentage rewards in the short term.
Will APE Dip Below $5 before the end of the Year?
Looking at the potential of the ApeCoin ecosystem, APE would not be dipping below $5 before the close of 2022.
Is It Worth Trading ApeCoin (APE)?
YES! You can trade ApeCoin for the United States Dollar (USD) in addition to trading it for other cryptocurrencies.