What is ApeCoin APE? How Does It Work? Easy Crypto

In order to have the best experience, it’s really important to choose the most suitable crypto exchange for you – take a look at which crypto exchanges are rated as the best in the game. Of the surveyed crypto holders store their cryptocurrency in hardware everything you need to know about apecoin wallets. No matter if you choose to purchase ApeCoin (APE) or any other cryptocurrency, the good news about hardware wallets is that you can securely store multiple cryptos at once. It’s only logical, since cryptocurrencies are completely digital, it does not take up any space in your offline wallet. Before choosing the best, take a look at the top-rated hardware wallets of 2024. A whale refers to a person or entity owning large amounts of a certain cryptocurrency.

Are Bored Ape NFTs Still A Good Investment?

If Otherside eventually incorporates a P2E mechanic, APE could be given as rewards to players. There is no way to predict the future, but if they truly envision the future of culture, art, and entertainment, then ApeCoin should be something you might want to keep on your radar. The purpose of the ApeCoin DAO is to facilitate and support the community-led proposals and ideas to become https://www.xcritical.com/ a reality for the holders.

What is ApeCoin (APE)? How Does It Work?

The sale went viral, and helped raise $320 million within just 45 minutes. Easy Crypto wants to make it easy for anyone to get into the crypto market – no matter how much they have to invest. As prefaced above, ApeCoin has been designed with the future in mind. Focusing on evolution of Web3 and blockchain technology to facilitate art, entertainment, gaming, and many more possibilities beyond. APE was launched by the ApeCoin DAO, a decentralised autonomous organisation (DAO) that acts as a governing body in which all ApeCoin holders are members. With a market cap of almost USD $2 billion on its first day of trading, ApeCoin definitely took the spotlight in the crypto space in recent weeks.

What is the Use Case for ApeCoin (APE)?

After the funds are sent, check for a notification from Zengo when the funds arrive. APE can be used to vote on governance decisions put forward by Ape DAO, gain exclusive access to services in the APE ecosystem, be used as a shared currency within the APE ecosystem, and interface APE with other projects. ApeCoin was created to allow governance and participation in the Ape Foundations ecosystem, where APE allows exclusive access to games, merchandise, and events. In addition, the APE coin encourages developers to incorporate APE into projects outside the APE ecosystem. Trade ApeCoin tokens for other cryptocurrencies like BTC, ETH, USDT, EUROC, and MATIC. Purchasing crypto is easy with Zengo, even for first-time buyers.

ApeCoin Frequently Asked Questions (FAQ)

Bored apes have certainly had their moment in the sun, but will they will ever experience a resurgence in value? As of May 2024, they are down 90% on their previous highs, and two years after they were listing floor prices in the hundreds of thousands of dollars, they are now coming listing in the low tens of thousands of dollars. Yuga Labs has continuously expanded the BAYC ecosystem, driving more demand for these digital creatures. This includes the launch of its sister collection, Mutant Ape Yacht Club (MAYC). But the good times weren’t to last and the BAYC floor price fell amid the crypto downturn of late 2022 to 72 ETH, or nearly $US110,000—a drop of more than 70% in five months.

What Can You Do With Zengo’s ApeCoin Wallet?

In fact, each holder of a BAYC NFT was able to claim over $100,000 worth of APE at launch. The term gained popularity during the 2020 DeFi Summer craze when DeFi projects launched one after another. A percentage of investors quickly realized substantial gains from investing in these projects shortly after they launched. Their success spread to social media platforms, where other investors aped their approach. Whether it is to express their emotions and opinions or define a phenomenon in the industry, the crypto community never fails to come up with some distinctive jargon and slang. One such quirky term is apeing (ape),  which defines the act of buying newly launched crypto tokens, without having done prior research.

Alternative Ways To Buy ApeCoin

For instance, you could draw a smiley face on a banana, take a picture of it (which has metadata attached to it), and tokenize it on a blockchain. Whoever has the private keys to that token owns whatever rights you have assigned to it. The ApeCoin (APE) is an ERC-20 token with a 1 billion maximum supply that is permanently fixed. APE was announced on Mar. 17, 2022, with approximately 13.3% of the tokens in the initial circulating supply. It is a governance and utility token used within the APE ecosystem.

What Is a Non-Fungible Token (NFT)?

Prices fluctuate, but individual pieces in the series sell for a minimum of $130,000 as of this writing, with a ceiling well above $1 million. Used to describe a cryptocurrency that is projected as having a strong upward market trend; when a cryptocurrency is mooning, it means its price is skyrocketing so high that it’s figuratively going to the moon. This event can be used by investors attempting to determine the best time to sell their cryptocurrency in order to get the best possible price for it. ApeCoin cryptocurrency is the utility token of the ApeCoin DAO and can be used to buy products and services created by the founders of Bored Ape Yacht Club.

• Consult with a qualified professional before making any financial decisions.
• APE was announced on Mar. 17, 2022, with approximately 13.3% of the tokens in the initial circulating supply.
• Short for ‘fear of missing out’, in crypto, FOMO refers to a trader’s or investor’s fear that they may be missing out on a potentially lucrative opportunity.
• For example, it can force them to enter trades too quickly without confirmation and chase after opportunities that have passed.
• Firstly, like many cryptocurrencies, its main purpose is a currency.
• In addition to its use in network governance, APE is meant to be used as a utility token—or currency—in web3 projects like games and metaverse worlds.

Does Ape Coin (APE) belong to Yuga Labs?

A trader suffering from FOMO frequently prefers to do things just because others are doing them rather than because they know why those investors are buying or selling a specific asset. Following the herd in trading can lead to imprudent investing and terrible consequences. Past performance is not a guarantee or predictor of future performance.

WAGMI, on the other hand, stands for ‘we’re all gonna make it.’ The acronym is widely used by the crypto community to inspire both positivity and confidence in a project. It is also used to encourage the community to support each other and not to lose hope. The term originated from a 2013 online post to the Bitcointalk forum, where the typo first appeared. Essentially, the goal of a hodler is to weather the various ups and downs of the market with an eye towards long-term gains. The related flappening is a term coined by Charlie Lee in 2018 to describe Litecoin (LTC) surpassing Bitcoin Cash (BCH) in market capitalisation. Diamond hands and paper hands are terms used to describe the risk appetite of traders.

Those with weak hands usually lack conviction in their strategies and are easily spooked by negative news or price action of an asset. Sats is short for Satoshis, the smallest unit of Bitcoin (BTC), named after the elusive creator of the coin, Satoshi Nakamoto. Just like fiat currency, cryptocurrencies can also be divided into smaller units.

ApeCoin was launched on March 17, 2022, and was distributed among Bored Ape holders, Yuga Labs, a charity, the founders, and companies in partnership with APE. Holders of other Yuga Labs NFTs like Mutant Apes and the Kennel Club also received APE tokens. Zengo is a safe wallet to hold (or HODL) APE tokens for as long as you need to. The state-of-the-art security combined with guaranteed recovery methods means that even if you lose or break your smartphone, Zengo will make sure you can always access your crypto.

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. In addition to its use in network governance, APE is meant to be used as a utility token—or currency—in web3 projects like games and metaverse worlds. The collapse of crypto exchange FTX in November 2022 highlighted this risk when billions of dollars in user funds were lost. Hence, trading on a decentralized exchange (where you control the custody of your assets) is typically considered the safer option.

Please note that the availability of the products and services on the Crypto.com App is subject to jurisdictional limitations. Crypto.com may not offer certain products, features and/or services on the Crypto.com App in certain jurisdictions due to potential or actual regulatory restrictions. The related term bear whale describes a whale trader who is bearish on the market and believes prices will fall. This sudden rise in price will then prompt others to jump in and buy too, and the original group will then sell (dump) the assets to turn a quick profit, leaving those who bought late often incurring heavy losses. Short-term market movements will not sway a hodler, nor even if entire markets crash or become seriously volatile.

Expanding its intellectual property, Yuga Labs recently acquired CryptoPunks and Meebits NFT collections from Larva Labs. The token is slotted for use in future gaming and entertainment applications. Please consider the suitability of crypto for your individual position before trading. Its job is to administer proposals and serve the vision of the community.

Perpetual futures are like futures (derivative contracts or agreements to buy or sell a commodity at a spec… Permissionless market creation refers to a system in which anyone can set up a financial market that facili… When estimating any future metric, it is important to consider any unforeseen events and how these events may impact any assumptions and estimations. For example, when forecasting a firm’s sales revenues, it’s important to consider the competition, their product lines and pricing strategy over the forecasted period.

ApeCoin’s primary use is as a governance and utility token within the APE ecosystem. It allows holders to participate in DAO governance votes while also offering access to members-only features of the ecosystem like games, events and other services. APE is a fungible, ERC-20 token built on the Ethereum blockchain. This represented one of the most valuable airdrops in crypto history at the time.

The Ape Foundation Board includes Reddit co-founder Alexis Ohanian, Yat Siu of developer and venture capital group Animoca Brands, and FTX investor Amy Wu, among others. Their role is to ensure the implementation of decisions made by the ApeDAO, which is governed by holders of the APE token. Moreover, to pass an exchange’s KYC (Know Your Customer) process, you will also need to provide a copy of your government-issued ID and proof of address. You may also be asked questions about your income and your level of expertise as an investor.