What Is ApeCoin?

Nov 30, 2022
4 min read

This blog post will cover:

  • About ApeCoin (APE)
  • Where did ApeCoin (APE) come from?
  • What are the advantages of ApeCoin (APE)?
  • What are the disadvantages of ApeCoin (APE)?
  • How to buy ApeCoin (APE) on SimpleSwap?

About ApeCoin (APE)

ApeCoin is an Ethereum-based cryptocurrency that is a part of the APE ecosystem. APE ecosystem, in turn, is a number of projects associated with the Yuga Labs company. Yuga Labs aims to build web3 and deals with the following NFT projects: the most expensive NFT collection Bored Ape Yacht Club (BAYC); Mutant Ape Yacht Club (MAYC) collection and Bored Ape Kennel Club (BAKC) collection. Recently Yuga Labs also acquired CryptoPunks and Meebits, another prominent NFT projects. All of these are the organizations that facilitate profitable and popular NFT market. ApeCoin serves as a governance and utility token across the whole ecosystem. As the ecosystem is just developing now, the token has not much of use, yet it gives a lot of opportunities for the future. The roadmap of the APE project promises to create plenty of special features for the token holders.

Where did ApeCoin (APE) come from?

The token was initially distributed within the framework of an airdrop. This airdrop was highly anticipated in both NFT and crypto communities, as the Bored Ape Yacht Club is already a strong and recognizable name in the industry. At the same time Yuga Labs tries to keep distance from the ApeCoin cryptocurrency and give it more independence in the future.The token APE was launched on the 17th of March 2022 and has skyrocketed both in price and popularity since then. It was immediately launched on the major exchanges and got worldwide attention.

What are the advantages of ApeCoin (APE)?

  • The origin
    ApeCoin is a part of a strong and experienced association of NFT organizations. The developers are highly skilled and qualified, thus making their projects reliable as well.
  • Utility and governance
    As APE is a utility and governance token used across various platforms, it makes all the systems dependent on it and makes the token a strong and robust asset.
  • PoW
    The Proof-of-Work consensus mechanism which opens the way to an additional income and vast blockchain system.
  • NFT-connected
    As the token is associated with an NFT platform, it’s not a surprise that the team is building an NFT ecosystem around the cryptocurrency, and the NFT trend has won a seat in the market. An NFT DEX is planned to launch soon.

What are the disadvantages of ApeCoin (APE)?

  • Meme token
    Many crypto enthusiasts can’t get rid of the idea that APE was created as a meme token. Meme tokens are famous for being exceptionally volatile even by the standards of the crypto market.

How to buy ApeCoin (APE) on SimpleSwap?

If you want to easily purchase ROSE tokens you can do it on SimpleSwap, just follow a few steps:

  • For example, you want to swap BTC for APE. Select the currency you want to exchange (e.g. BTC) in the first drop-downlist. Then enter the amount you want to swap.
  • Select APE in the second drop-down list. You’ll see the estimated amount that you’ll get after the exchange.
  • Click the Exchange button.
  • Enter the Recipient's Address. APE will be sent. Be careful and make sure you use the correct address.
  • Create the exchange.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the BTC to APE exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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