A Beginner’s Guide to ApeCoin APE

Of course, with BitPay’s recent support for the token, you can also buy ApeCoin , store, swap and spend in the BitPay app. All BitPay merchants have the option to accept ApeCoin as payment, opening up thousands of new ways to use and spend the token. You can send ApeCoin payments from any compatible wallet, including the BitPay Wallet. Use the BitPay Card to instantly convert APE to cash online, in-store or at compatible ATMs around the world.

How is the APE token used

62% was allocated to the ecosystem’s fund and given to BAYC and Mutant Ape Yacht Club NFT holders. Prices and percentage changes are for information purposes only and in no way reflect Coinsquare Ltd.’s speculation of market direction. You can also check the ApeCoin stock price and convert APE to CAD on the platform. Verifying your identity helps us to properly connect your funds to your account.

How Can I Earn With ApeCoin?

While purchasing ApeCoin on a crypto exchange is arguably the simplest option, you could also purchase APE on a peer-to-peer exchange or a decentralized exchange . The Bored Ape Yacht Club is a highly popular NFT collection composed of 10,000 unique images of cartoon apes. During the height of the NFT boom in 2021, Bored Ape emerged as one of the most popular NFTs, with rare Apes selling for hundreds of millions of dollars.

How is the APE token used

Animoca Brands and Yuga Labs have teased a Bored Ape secret project that would be powered by ApeCoin. Buy, sell, and exchange $APE along with 160+ other cryptocurrency coins and tokens at Easy Crypto. In addition, APE is adopted by Yuga Labs as the primary token for all new products and services. Yuga Labs is the creator of the trending Bored Ape Yacht Club NFT collections.

ApeCoin tokenomics

CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG. It allows holders to participate in the ApeCoin DAO as a governance token. APE holders can also access exclusive features of the APE ecosystem, including games, merch, events, and services.

There are a few reasons why it is incredibly challenging to make ApeCoin price predictions. First of all, its fundamental value as a token is tied to a hype-dependent project — an NFT collection. Although the Bored Ape Yacht Club is one the biggest projects of its kind and has been picked up by many celebrities, it has already started declining in popularity.

August 2023: ApeCoin Price Forecast

A further 15% was distributed to Yuga Labs, and 14% was reserved for investors and contributors to the project. The four founders of Yuga Labs and the BAYC were given 8% of all APE tokens. Finally, 1% was donated to the Jane Goodall Legacy Foundation to aid in its efforts to promote conservation, educational programs, and research of environmental initiatives.

How is the APE token used

Having said that, DEXs are unregulated, and there is no customer protection if funds are lost due to hacks. Crypto exchanges typically require you to make a minimum deposit, ranging from $10 to $20. However, there are a handful of trading apps that allow you to purchase crypto for as little as $1. To purchase APE coins on a P2P exchange, you first need to choose a marketplace that supports ApeCoin, sign up for the platform, and complete the verification process.

  • ApeCoin does not offer any facility for creating more tokens or capacity for burning tokens, thereby ensuring a constant supply in its tokenomics.
  • Once purchased, your APE tokens can be stored in the exchange itself or be taken out and stored in a cryptocurrency wallet.
  • According to reports, every investor who bought or will buy a BAYCNFT will have access to claim APE tokens for free.
  • Original BAYC NFT holders were handed 10,000 mutant serums in three tiers via airdrop to add the rarity of traits.
  • Investors across the world have put their money into these artworks and the buyers include the likes of Justin Bieber and Eminem.
  • DigitalCoinPrice made an upbeat apecoin crypto price prediction, arguing that the token’s value could steadily grow in the coming years.

If Otherside eventually incorporates a P2E mechanic, APE could be given as rewards to players. The development of ApeCoin was coordinated by multiple parties and is governed by holders of the APE token through the ApeDAO. Although nearly 30% of all APE were unlocked at launch, the remainder were set to unlock gradually over the course of the following 48 months—ending in 2026. ApeCoin Improvement Proposal-1 (AIP-1), which established the ApeDAO and creative direction for APE, was submitted by the co-founder of Cartan Group LLC, a consulting firm based in the Cayman Islands. At the end of April 2022, Yuga Labs began minting Otherside metaverse lands. Within 45 minutes, the virtual real estate clocked the value of $100,000 and raised a total of $320 million, making BAYC the NFT garnering the maximum sales.

On 29 April at $26.19, as three new proposals were opened for ApeCoin DAO members to vote on. Enter the Token ID to see if a Bored Ape, Mutant Ape, or companion Kennel Club NFT is eligible for a one-time claim of ApeCoin. Create your account, fund it with spare change and get a little bit of APE. In the Coinsquare app, all currencies available to trade can be found in the drop down list. According to the website, ApeCoin wants to implement specific changes and governance, and access to all users.

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