Apecoin (APE) is undoubtedly one of the most exciting cryptocurrencies that launched in 2022. The crypto asset especially caught on among fans of the Bored Ape Yacht Club non-fungible token (NFT) collection, and it rose to become a large-cap asset just weeks after it was launched.
Although it began as a huge attraction for NFT fans, Apecoin has grown to become much more than that, with massive prospects heading into the future. In this guide, we’ll examine how to buy Apecoin and some other interesting facts to know about the asset.
Where to Buy Apecoin
This section considers some of the best exchanges that allow investors to buy Apecoin. We chose these platforms based on fees, security, payment options and security:
eToro is a multi-asset brokerage platform and our overall best exchange to buy cryptocurrencies. The broker offers access to a broad range of asset classes. Although it began as a hotbed for stock and exchange-traded funds (ETFs), its crypto offering is also top-notch.
eToro allows investors to buy and sell over 90 crypto assets, including Apecoin. The broker provides an intuitive trading platform that’s easy to use. Newbie traders will love its well-laid-out platform, quick signup process, and ease of executing trades.
Even better, eToro enables US and UK traders to start with as little as $10. This means if Apecoin is priced at $1 and an investor signs up on eToro, they’d own 10 APE coins. In addition to the low minimum deposit, eToro offers many payment options for investors.
Investors can fund their crypto accounts using debit/credit cards, payment processors like PayPal, and even bank transfers for free on eToro. Also, they can deposit crypto assets like Bitcoin and trade them for APE.
In terms of fees, eToro offers one of the lowest fees in the market. The crypto platform charges a flat rate of 1% on all crypto trades – regardless of the coin or quantity. Deposits and withdrawals are free, although card withdrawals incur charges from the manufacturers. However, eToro charges a $10 inactivity fee, to be deducted every month after the first year of inactivity.
To keep funds safe, eToro uses advanced encryption and masking technologies to protect user accounts. The platform also uses two-factor authentication (2FA) to control access to investors’ accounts. As an additional layer of trust, eToro is regulated by several top financial watchdogs, including the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC), and the Financial Industry Regulatory Authority (FINRA).
Binance is the largest cryptocurrency exchange by daily trading volumes. The broker has a broad use case, providing everyday crypto trading, sophisticated derivatives trading, cryptocurrency staking, and loans.
Binance is home to millions of traders around the world. The exchange averages between $15-$20 billion in trade volume. Most customers use Binance for its litany of crypto assets and low trading fees.
The platform currently supports over 600 coins, including Apecoin. Investors can also buy and sell popular cryptocurrencies like Bitcoin and Ethereum on the exchange. Furthermore, Binance has also become the go-to exchange for small and less liquid crypto assets. The exchange is often the first centralised platform where most digital assets list their projects.
As a beginner, investors will find that there’s a bit of a learning curve when using Binance. The platform’s interface isn’t user-friendly. The Binance mobile app can also be clunky and difficult to use. However, with more practice and consistency, they should get through this challenge with time.
Binance requires that traders make a minimum deposit of $10 to buy Apecoin. The broker supports several payment options, from bank wire transfers to credit/debit cards, peer-to-peer (P2P), and e-wallet solutions.
However, while deposits are free on eToro, Binance charges certain fees for fiat deposits on the platform. For instance, if an investor makes a deposit of $100 on eToro using a debit card, they’ll be credited with the full amount. The same transaction on Binance would incur a 4.5% charge.
While deposit fees on Binance vary, the platform’s trading fees are fixed. Trading fees on Binance are capped at 0.1% for most coins. However, the broker allows users to enjoy a 25% discount on trades if they pay using its Binance Coin (BNB) native token.
Binance is built on high-end security infrastructure to thwart malicious activities and breaches.
The platform’s security protocols include using 2FA for signups, implementing advanced data encryption, and whitelisting. The bulk of customer funds is also stored in cold storage, while a small portion is kept in hot wallets. And if there’s a security breach, Binance has an insurance fund dubbed the Secure Asset Fund for Users (SAFU) that protects users’ funds. The broker, which operates in over 100 countries, currently holds a license from Dubai’s Virtual Asset Regulatory Authority (VARA). It also operates in the United States via Binance.US – its American subsidiary.
Impressive liquidity for trades
A broad selection of available coins and trading pairs
Discount on fees available
Not suitable for beginners
3. Coinbase: Best Exchange For Crypto Beginners
Coinbase is another top broker in the crypto market. The trading company operates two platforms: the Coinbase platform, a brokerage service where traders can easily buy cryptocurrencies, and the Coinbase Pro, an intuitive trading service for experienced traders. Coinbase plans to phase out Coinbse Pro in favour of a similar exchange service dubbed “Advanced Trade”.
Although it started in the United States, Coinbase has built a large following globally. It has become one of the most reputable platforms to buy and sell over 100 digital assets, including Apecoin. In addition to crypto trading, Coinbase also offers crypto staking, debit cards, and an NFT marketplace to trade digital collectibles.
One of the main attractions of the Coinbase platform is its user-friendliness. The exchange is easily the best platform for beginners. The broker’s interface is well laid out, simple, and clean. We also love that Coinbase has a swift signup process. The platform also welcomes individual investors of all sizes. Coinbase’s minimum deposit is the lowest in our review. Investors can start trading Apecoin for as low as $2.
Also, deposit channels on Coinbase vary. The exchange allows traders to make payments via wire transfers, cards, payment processors, and direct crypto transfers. But while these options are many, the exchange’s fee structure is quite complex.
Coinbase determines its fees by reviewing a trader’s transaction type and trading volume, so there is no fixed rate. Usually, the fees are between 0.5% to 4.5%, which is much higher than the industry average.
The cryptocurrency trading exchange employs industry-leading practices for the security of its platform. As with Binance, Coinbase keeps the bulk of users’ funds in cold storage. The exchange also maintains a comprehensive insurance policy for coins stored on its platform, and Coinbase also uses multi-factor authentication to prevent unauthorised access to users’ accounts.
Coinbase is regulated by the US Securities and Exchange Commission (SEC) and the UK’s Financial Conduct Authority (FCA).
Suitable for beginners
Low minimum deposit
Impressive security features
4. Kraken: Top Crypto Platform with High Liquidity
Kraken handles billions in daily trades and thrives on providing additional services, like derivatives trade. There’s also a section on Kraken for institutions looking to make big-volume trades, and the broker looks ready to launch an NFT marketplace.
Kraken is very easy to use. Beginners would have no problem moving around its interface to buy and sell cryptocurrencies. Although the broker takes a while to verify users’ identities, traders should complete the verification process in an hour or less.
Deposits on Kraken are available via bank transfers, digital wallets, cards, and direct crypto transfers. The broker accepts a minimum of $10 for card transactions, but the minimum for bank transfers tends to vary based on the issuing bank. Minimum deposits for crypto depend on the coins, while digital wallet providers also have varying minimum deposit levels. Investors can check Kraken’s support page for more information about their desired funding channel.
As for trading fees, Kraken charges 1.5% for crypto trading pairs and 0.9% for stablecoins.
Kraken secures user funds with two-factor authentication, Secure Socket Layer (SSL) encryption, and email verification for all transactions. The broker is also regulated by the Financial Crimes Enforcement Network (FinCEN), the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), and the Australian Transaction Reports and Analysis Centre (AUSTRAC).
Dedicated service for institutions
Great for beginners to use
High trading liquidity
The lengthy ID verification process
What is Apecoin?
Launched in March 2022, Apecoin is the native token that powers the APE ecosystem. The asset was launched by the APE Decentralised Autonomous Organization (DAO) – the same decentralised community that controls the Bored Ape Yacht Club collection, the Mutant Ape Yacht Club (MAYC), Bored Ape Kennel Club (BAKC), and Otherside metaverse project.
As a governance and utility token, Apecoin can be used…