ApeCoin is one of the hottest crypto assets in 2024. This ERC-20 token is backed by the same team behind the hugely successful Bored Ape Yacht Club NFT collection.
As such, there is a lot of hype surrounding ApeCoin from speculative investors. In this guide, we show you how to buy ApeCoin with a debit/credit card or e-wallet in less than five minutes.
How to Buy ApeCoin – Quick Steps
Looking for a quickfire guide on how to buy APE tokens right now? Here’s a quick step-by-step process to follow.
- ✅ Step 1: Open an Account
You will first need to choose a brokerage account and get it set up, which can be done by entering some basic personal information, alongside your email address and cell phone number. You’ll also need to upload some ID. - Step 2: Deposit Funds
You can usually deposit from just $10. Choose from a debit or credit card, e-wallet, or bank transfer. - Step 3: Search for ApeCoin
In the search bar at the top of the screen, start typing ‘ApeCoin’. When you see the crypto asset appear, click on the ‘Trade’ button. - Step 4: Buy ApeCoin
In the ‘Amount’ box you need to let the site know how much money you wish to invest in ApeCoin – from $10. Click on the ‘Open Trade’ button to complete your purchase.
If you’re new to this industry and need additional guidance on how to buy cryptocurrency assets like ApeCoin – you will find a more comprehensive explanation further down.
Where to Buy ApeCoin
Although ApeCoin is a brand new digital currency, some of the most used crypto exchanges decided to list the token as soon as it was launched.
This is somewhat unprecedented, as oftentimes it can take several months for newly launched projects to get listed on tier-one exchanges.
Nevertheless, below you will find reviews of the best places to buy ApeCoin right now.
1. Crypto.com – Buy ApeCoin After Making an Instant and Free USD Deposit
Crypto.com is a very popular broker that makes it easy to buy ApeCoin in the US. On this platform, you can fund your ApeCoin investment using a US bank transfer. Once you link your US checking account to Crypto.com, you can make instant deposits of up to $50,000 each day.
And, best of all, Crypto.com does not charge any deposit fees when opting for this payment method. On the other hand, the platform charges 2,99% on debit and credit card purchases, albeit, this is often waivered for new customers within 30 days of opening an account.
Once you have added US dollars to your Crypto.com account, you can buy ApeCoin with a 0.4% fee per transaction. So, if you purchase $1,000 worth of ApeCoin, your fee will only be $4. If you want to pay even less in fees, think about holding CRO tokens, which are specific to the Crypto.com platform.
More competitive fees are also available to those that trade larger amounts. Once you have bought ApeCoin from the Crypto.com platform, you might then consider diversifying into other digital currencies. In total, you will have access to over 250 tokens from a variety of projects and market capitalizations.
We also like this exchange for its crypto lending services. Put simply, this operates like a conventional certificate of deposit (CD) account, insofar that once you deposit some crypto tokens – you will be paid a rate of interest. And, just like CDs, the APY you receive will depend on the lock-up period that you opt for.
For instance, while flexible crypto savings accounts pay the lowest rate, the best APYs are offered on a 3-month term. In addition to interest-bearing accounts, Crypto.com also offers instant crypto loans without the need to go through a credit checking process. This offers the opportunity to amplify your crypto holdings – with a maximum LTV of 50% available.
Cryptoassets are a highly volatile unregulated investment product.
2. Binance – Top Platform for Experienced Traders to Buy ApeCoin
Binance is another tier-one crypto exchange that has decided to list ApeCoin. At this platform, you can trade ApeCoin against a number of crypto and fiat pairs. The latter includes USD, as well as GBP, EUR, and TRY. ApeCoin can also be traded against Bitcoin and BUSD.
Regardless of the ApeCoin trading pair that you decide to speculate on, Binance will only charge you a commission of 0.10% per slide – which amounts to $1 for every $1,000 staked. And, in a similar nature to the previously discussed Crypto.com – lower fees are offered when you hold BNB tokens or stake larger amounts.
With that said, if you wish to buy ApeCoin instantly at Binance with a debit or credit card, additional fees will apply. This stands at a 4.5% processing charge alongside an instant buy commission of 0.5%.
Alternatively, you might consider making a fee-free deposit via ACH, but this can take several days to arrive in your Binance account as available equity. Nevertheless, once you have purchased ApeCoin at Binance, you will then have access to over 600 alternative crypto assets across 1,000 markets.
This makes diversification an absolute breeze – especially when you consider that there is no minimum trade requirement at this platform. We also like Binance for its crypto lending services and interest-bearing accounts. In terms of the latter, yields are very competitive here – although this will depend on the respective token and lock-up term. You can earn interest on ApeCoin on Binance at 5% APY.
Another reason why we like Binance is that it offers high-level trading tools. This includes the likes of customizable charts and technical indicators, alongside advanced order types and integration with TradingView. This will appeal to those of you that have experience in short-term trading and charting analysis.
Cryptoassets are a highly volatile unregulated investment product.
What is ApeCoin?
ApeCoin is a crypto asset that is built on top of the Ethereum blockchain – which makes it an ERC-20 token. Crucially, this project was created by the same team behind the hugely popular Bored Ape Yacht Club NFT collection. For those unaware, this collection refers to 10,000 unique NFT drawings – some of which have since sold for over $1 million apiece.
Not only that, but many celebrities – such as Eminem, Jimmy Fallon, Justin Bieber, and Snoop Dogg have since bought Bored Ape Yacht Club NFTs, which has further increased their market value. And as such, this is why there is so huge hype and speculation surrounding the ApeCoin launch.
It is important to note that, unlike its NFT counterpart, ApeCoin tokens are fungible. This means that in a similar nature to other cryptocurrencies like Bitcoin or Ethereum – each APE token is worth the same as the next. Nonetheless, according to CoinMarketCap, a total of 1 billion APE tokens were created, with just under 28% in circulation as of writing.
Perhaps the most controversial aspect of ApeCoin is that those holding a Bored Ape Yacht Club NFT are able to claim 10,000 tokens without charge. Based on a price of just over $10 per ApeCoin as of writing, this amounts to a value of $100,000. With that said, this is still below the amount of money it would cost you to purchase a Bored Ape Yacht Club NFT in the open marketplace.
Bored Ape NFT makers Yuga Labs recently released a teaser trailer of their NFT metaverse project ‘powered by ApeCoin’.
Is ApeCoin a Good Investment?
Like all crypto assets, ApeCoin is a speculative investment – meaning that motivation to buy this digital currency is focused on price fluctuations rather than long-term intrinsic value.
And as such, it’s important to consider both the potential upside and risk of loss before you buy ApeCoin for your portfolio.
In terms of the benefits, you might consider investing in ApeCoin for the reasons discussed below:
The Success of Ape NFTs
Perhaps the main reason why ApeCoin is expected to perform well in terms of market pricing is linked to the success of its Bored Ape Yacht Club NFT series.
- For instance, when the 10,000 Ape NFTs were launched in 2021, each collectible was priced at just 0.08 ETH – which amounted to around $200 at the time.
- Since then, a number of ApeNFTs have sold for over a million dollars.
- And, as noted earlier, a wave of A-list celebrities have since jumped on the Ape NFT bandwagon, which has further amplified its market value.
- Although prices have somewhat cooled off in recent months, the cheapest Ape NFT available still sells for hundreds of thousands of dollars.
Ultimately, if ApeCoin is able to replicate the success of its NFT counterpart, the upside potential on this digital asset could be huge.
New in the Market
When newly launched crypto assets first enter the market, this is often the best time to gain exposure. This is because early investments often offer the most favorable entry point in many cases.
As a recent example, the Lucky Block token – which launched in late January 2022, was initially priced at just $0.00015 before hitting highs of over $0.009 just a few weeks later.
In the case of ApeCoin, this crypto asset was only launched on March 18th, 2022. And as such, the earlier you make a purchase, the best chance you have of obtaining a low price.
Instant Listings on Tier-1 Exchanges
When new cryptocurrencies are launched, it often takes several months for the project to be accepted onto tier-one exchanges – if at all.
With that said, ApeCoin stands out in this regard, not least because the project was listed on a large number of popular exchanges the very minute the token was launched.
In addition to the previously discussed Crypto.com and Binance – this also includes the likes of Coinbase, Huobi, Kraken, Gate.io, and FTX.
These exchanges are home to millions of clients and attract billions of dollars in daily trading volume. And as such, the fact ApeCoin was listed so quickly in many ways provides the project with instant credibility.
ApeCoin is Trending
The secret sauce of a crypto asset performing well is often down to the amount of hype that the project can generate in the market.
And, in the case of ApeCoin, this project is already trending in the crypto space – even though, as of writing, it’s less than a week old.
In addition to its tier-one exchange listings and association with the Bored Ape Yacht Club NFT series, ApeCoin is also being talked about in leading newspapers and investment journals.
Crucially, for as long as ApeCoin continues to receive widespread media attention, this can only be a good thing for its market value.
Relatively Small Market Capitalization
According to CoinMarketCap, ApeCoin is carrying a total valuation of just over $3 billion at the time of writing. This means that in terms of capitalization, ApeCoin is already a top-50 crypto asset.
However, it should be noted that at $3 billion, this is still somewhat low – especially when you consider that the likes of Dogecoin and Shiba Inu have since hit market capitalizations of over $80 billion and $40 billion respectively.
As such, for as long as you can buy ApeCoin at its relatively small market capitalization, this offers an attractive upside potential that you won’t get with other meme coins that have already flourished.
Risks of Buying ApeCoin?
It is crucial that you consider the risks before you buy ApeCoin, as there is a lot of hype surrounding this digital currency that is potentially unsustainable.
The main risks of investing in ApeCoin are discussed below:
ApeCoin is a Speculative Investment
There is a clear disparity between the likes of Bitcoin and ApeCoin in terms of intrinsic value. Although subjective, Bitcoin has established itself as the de-facto cryptocurrency of choice and has a verifiable track record that spans over 13 years.
Moreover, Bitcoin has been legitimatized by many corporations (think Tesla and Paypal) and financial institutions – and the digital asset even has a regulated futures market on the Chicago Mercantile Exchange (CME).
ApeCoin, on the other hand, is a brand new digital currency with no track record whatsoever – other than being backed by the team behind the Bored Ape Yacht Club NFT collection. As such, its future value at this stage is largely dictated by hype and speculation.
ApeCoin is a Speculative Investment
We mentioned earlier that each and every Bored Ape Yacht Club NFT holder is entitled to 10,000 free ApeCoin tokens. If the entirety of this entitlement is claimed – this would amount to 100 million tokens – or 10% of the total ApeCoin supply.
And, based on a price at the time of writing of just over $10 per token, this equates to $1 billion in realizable value.
Should token holders begin to cash out their free ApeCoin allocation in their droves – this will have a significant impact on the value of this project.
Almost 70% of ApeCoin Tokens Yet to Circulate
Another risk to consider before you buy ApeCoin is that the project only has 28% of its tokens in circulation as of writing.
As and when the team begins to release additional tokens into circulation, this will dilute the value of ApeCoin in the open market.
And, when you consider 72% still remain outstanding, this is something to keep a close eye on.
ApeCoin Price?
When learning about how to invest in ApeCoin, it’s important that you have a firm grasp of how this speculative crypto asset is valued. Put simply, like any other tradable asset – the price of ApeCoin is determined by demand and supply.
For instance:
- For as long as ApeCoin is trending, more buyers will enter the market, and thus – its value will increase
- If this hype begins to wane and token holders begin to cash out in their droves, the value of ApeCoin will decline
In terms of ApeCoin price performance, this digital currency is just a week old at the time of writing. And as such, the future direction that this digital currency takes remains to be seen.
To keep an eye on the value of ApeCoin, you can view real-time pricing on the CoinMarketCap website.
ApeCoin Price Prediction
On the one hand, if ApeCoin is able to replicate the success of its NFT collection, then this digital currency could experience a huge upswing in a very short period of time.
This will be amplified if celebrities holding Ape NFTs decide to claim their 10,000 free token allocation. On the other hand, the value of both ApeCoin and its NFT counterpart is subjective.
That is to say, the value of this phenomenon is driven by speculation and hype. Therefore, there is no guarantee that ApeCoin will be a success.
This is why you should avoid relying on ApeCoin price predictions that you come across and instead do your own due diligence.
Ways of Buying ApeCoin
As we discussed in our crypto exchange reviews earlier, there are many ways to buy ApeCoin from the comfort of your home.
This includes the following payment methods:
Buy ApeCoin With Credit Card or Debit Card
The fastest way to buy ApeCoin is with a credit/debit card. Both platforms we discussed today – Crypto.com and Binance – support this payment method. However, fees will vary depending on your chosen exchange.
For instance:
- Crypto.com charges 2.99% for the same transaction
- While at Binance, US clients pay 4.5% plus an instant buy fee of 0.5%
As such, when thinking about where to buy ApeCoin crypto with a credit/debit card – be sure to do your homework on fees.
Buy ApeCoin With Paypal
Paypal is supported by a small number of crypto exchanges. Once again, fees will vary considerably.
If you hold a Crypto.com debit card, you can use Paypal to add funds. You can then transfer the funds over to your exchange account. With that said, the platform charges a fee of 2.1% when using Paypal.
Buy ApeCoin With US Bank Account
Another option is to buy ApeCoin via a US bank account. If opting for Crypto.com, you can deposit funds for free when linking your checking account to the exchange. And, best of all, no fees are charged.
Best ApeCoin Wallet
Although ApeCoin is a brand new crypto asset – the project is built on top of the Ethereum blockchain. And as such, ApeCoin is an ERC-20 token that can be stored in any wallet that supports Ethereum – of which there are dozens.
With that said, you do need to do some research on the best ApeCoin wallet for your needs, as storage options can come in many shapes and sizes.
In terms of device types, ApeCoin wallets are available as:
- A mobile app
- Desktop software
- Hardware device
- Web wallet via an exchange or broker
In choosing the best crypto wallet for your ApeCoin storage requirements, you’ll need to think about:
- User-friendliness
- Security
- Fees
- Additional tools – like exchange services
Conclusion
It goes without saying that ApeCoin is a speculative crypto asset that in its current form – is largely being driven by hype.
If the project is able to replicate the success of its Bored Ape Yacht Club NFT collection, then the upside potential of ApeCoin does appear attractive. However, there is no guarantee that this will be the case – so be sure to do your own due diligence.