How to Buy ApeCoin (APE)

Read our Advertiser Disclosure.
Contributor, Benzinga
April 28, 2022

Want to jump straight to the answer? You can buy ApeCoin on eToro.

Yuga Labs, the incredibly fast-growing startup behind the NFT media sensation Bored Ape Yacht Club, has been on fire recently. You have likely heard of the Bored Apes by now; it’s probably the most famous NFT collection in the world, and tons of celebrities have one including Snoop Dogg, Eminem, Jimmy Fallon, Justin Bieber and many more.

First, Yuga Labs announced that they had acquired the CryptoPunks and Meebits, 2 historically significant former-competitors to the Bored Apes. The deal was almost certainly in the 9-figures and included a 2nd popular collection called Meebits that was made by the founders of CryptoPunks, Larva Labs. 

Only a few days later, the community was shocked again by Yuga Labs when The Block released a leaked pitch deck made to woo investors. The document revealed that the startup is planning on launching a massive metaverse called the 'Otherside', involving the sale of 200,000 parcels of virtual land.

A major part of MetaRPG will be the new Bored Ape Yacht Club ecosystem token, ApeCoin. The NFT community knew the token was coming eventually, but most didn’t have a clue it was coming so soon. Its release was only announced a day before the launch, and the token is available on several top-tier exchanges as of March 17, 2022. Exciting token launches like this almost always breed volatility in the token itself and the market in general and ApeCoin is a prime example.

What's more, the "Otherside", a new metaverse projected created by Yuga Labs, is set to launch on April 30th. It is speculated that the mint price of virtual land parcels in the Otherside will be priced at 300 APE, further bolstering the use case of ApeCoin in the short term.

Disclosure: eToro supports the following currencies: BTC, ADA, DASH, DOGE, EOS, ETH, LTC, NEO, XLM, XTZ, TRX, ZEC. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. T&Cs apply. *The bonus is available to Benzinga readers in the US for open states only. Served by eToro USA LLC.

How to Buy ApeCoin (APE)

Thanks to the popularity of the Bored Ape Yacht Club, ApeCoin is available on many exchanges already. The buying process is easy, and it’s generally similar to purchasing any other cryptocurrency like Bitcoin, Ethereum or Dogecoin. If you don’t already have an account set up with a cryptocurrency exchange, it only takes a few minutes to get started.

  1. Open an online account.

    If you don’t already have an account set up with a cryptocurrency exchange that supports ApeCoin, signing up for one is a simple process. Voyager is a top platform for U.S based investors that supports the trading of ApeCoin as of March 17, 2020. Another option is Coinbase, which has a wide user base globally.

  2. Buy a wallet (optional).

    While holding cryptocurrencies on large exchanges is generally safe, it’s best practice to store the majority of your funds in a hardware wallet. Hardware wallets store cryptocurrency offline, so you have security from online hacks. Also, exchanges are custodians of your assets, whereas you truly own your cryptocurrency with a hardware wallet.

  3. Make your purchase.

    You can go about purchasing ApeCoin (APE) from Voyager or another cryptocurrency exchange in a similar manner to purchasing any other cryptocurrency. Simply navigate to ApeCoin and place your market order –– your trade will be executed immediately. Alternatively, 

  • eToro
    Best For:
    Social Investing
    securely through eToro's website

    Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.

    eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

  • Voyager
    Best For:
    Mobile Traders
    securely through Voyager's website

    *Other fees may apply.

What is ApeCoin?

ApeCoin is the token at the foundation of the Bored Ape Yacht Club ecosystem that will eventually have a ton of utility. Owners of the 2 main NFT collections, Bored Apes and Mutants, will get an advantage with a significant amount of tokens off the bat. However, there will be other ways of acquiring ApeCoin including just buying it on an exchange like Coinbase or earning it in Yuga Labs’ upcoming play-to-earn game. The ApeCoin treasury will also grant third-party developers tokens to build out the ecosystem further.

Possibly ApeCoin’s most important utility is its voting power. It will be the main mechanism for governance over the entire ecosystem. Holders of the token will be able to vote on vital decisions through the ApeCoin decentralized autonomous organization (DAO). It will also be used to purchase almost anything under the Bored Ape umbrella including merch, exclusive games, access to events, and various services. 

History of Bored Ape Yacht Club and Yuga Labs

Yuga Labs was founded in 2021 and created Bored Ape Yacht Club as its 1st NFT collection. The Bored Ape Yacht Club mint began on April 23, 2021, and it sold out in roughly 24 hours. Each ape was sold on the primary market for 0.08 Ether, or around $200 USD. Today, the floor price of Bored Ape Yacht Club is well into the 6-figures. It’s also probably the most culturally important NFT collection in the world. 

Yuga Labs has actively developed its community by hosting events and airdropping members of the Bored Ape Yacht Club new NFTs and now tokens worth 10s of thousands of dollars. Other collections under Yuga Labs’ umbrella include Mutant Apes, CryptoPunks, Bored Ape Kennel Club and Meebits. However, only Mutant Apes and Bored apes receive the perks of The Bored Ape Yacht Club.

Best Hardware Wallets for ApeCoin

Take a look at some wallet options.

Best Hardware Wallet: Ledger Nano S

The Ledger Nano S is among the most affordable hardware wallets on the market, coming in under $60 for the device. Plus, the Ledger Nano S is a multicurrency wallet, meaning that you can conveniently store thousands of different cryptocurrencies all on the same device. Since ApeCoin is an ERC-20 token, you can easily store it on Ledger along with almost all your other tokens. 

Best Software Wallet: Metamask

Metamask is the most common software wallet to use for Ethereum and Layer-2 solutions. Every single platform on Ethereum supports MetaMask so it's an easy choice. You can install it on Google Chrome and use it as an extension, making it a convenient option for users that want to use DeFi or buy and sell NFTs. 

BZ

Bonus:

ApeCoin will almost certainly correlate to Yuga Lab’s success, albeit the ApeCoin DAO manages the token treasury. Follow the prices of Bored Ape Yacht CClub NFTs to see where Ape token could potentially be headed.

Bored Ape Yacht Club ApeCoin Airdrop

If you own an NFT or either of the main collections you can claim your tokens anytime during the 90-day claiming period starting March 17, 2022. About 15% of the 1 billion token ApeCoin supply is available to claim by holders of either Bored Apes or Mutant Apes. While this is a large percentage, the majority of tokens will go to the ApeCoinDAO treasury, founders and companies that helped the coin launch.

Bored Ape holders can get precisely 10,094 tokens per ape. Mutant holders only get 2,042 tokens per mutant. The third companion collection made by Yuga Labs, Bored Ape Kennel Club, earns holders an extra 856 ApeCoin but only when they also have a Bored Ape or Mutant Ape. YugaLabs decided on this allocation by taking a snapshot of each collection’s floor price and using the ratio between them. 

What is the ApeCoin DAO?

Yuga Labs knew that the Bored Ape Yacht Club ecosystem would benefit greatly from a decentralized form of governance so they built the ApeCoin DAO. The token will, in essence, act as a voting share for the Bored Ape ecosystem. Any DAO member can bring forward an Ape Improvement Proposal to request a change or decision on matters like fund allocations, governance rules, projects, partnerships and so on. 

Current Crypto Prices

Q1 2022 has been generally bearish for cryptocurrencies, and while NFTs were in a frenzy at the start of the year, they seem to have cooled off. With Yuga Labs making huge announcement after huge announcement, some believe the NFT market will continue to be bullish over the coming months. As for the fungible token markets, much uncertainty around regulations and war seems to have halted upward movement for now. For the most up-to-date cryptocurrency prices, check out the table below. 

Is ApeCoin a Good Investment?

A bet on ApeCoin is a bet on Yuga Labs, as well as NFTs and Ethereum’s blockchain as a whole. If one of these pieces falls through, so will ApeCoin. That being said, Bored Ape Yacht Club set the standard in the NFT industry and is clearly the top dog. The project continues to innovate and add utility to its ecosystem. With the recent talent that’s been added to Yuga Lab’s team, many investors are confident in the project’s ability to deliver on its roadmap.

Disclosure: ²Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards. ³Crypto rewards is an optional Coinbase offer. Upon purchase of USDC, you will be automatically opted in to rewards. If you’d like to opt out or learn more about rewards, you can click here. The rewards rate is subject to change and can vary by region. Customers will be able to see the latest applicable rates directly within their accounts
The Crypto Rocketship: Weekly Newsletter
  • Exclusive Crypto Airdrops
  • Altcoin of the Week
  • Insider Interviews
  • News & Show Highlights
  • Completely FREE

About Henry Stater

Henry is an expert in all things crypto. He stays up to date with all the latest coins, platforms and technologies in the field. He has particular expertise in the burgeoning decentralized finance ecosystem and loves trying out all the new platforms. He also always follows major events in other financial markets and geopolitics as a whole, especially when an event’s effects ripple through the crypto market.