ApeCoin: Everything you need to know

It has been a really long time since the cryptocurrency industry was first introduced and honestly, the industry has had a wonderful journey so far by being able to lure in potential investors from all across the globe and managing to make a name for itself in the global marketplace. Not just that, as mentioned, the industry has had a surge in its overall growth and popularity recently, thus helping it to reach greater heights!

Having said that, I believe a majority of you are already familiar with the basics of the industry and I am sure that you are eagerly waiting for us to start with what we have with us today but, for some of you who are new to this whole thing, it’s best if we have a brief look at the industry first.

To begin with, cryptocurrencies as the name suggest is nothing but a form of online or virtual currencies that can easily be made use of for a variety of purposes including the purchase and sale of goods and services as well as for the purpose of trade and exchange over cryptocurrency exchanges available online.

In other words, crypto is a blockchain-based platform that is known to be decentralized to its very core. Being decentralized, the crypto world becomes more than capable of stepping outside the overall control and jurisdiction of central authorities and can work freely without any unnecessary government interferences as well.

Also, when the industry was first introduced there were not many currencies to choose from and honestly, not many people were looking to be a part of it either as people back then were very skeptical with respect to the return on investments they could expect as well as the safety of their money too.

That is surely not the case anymore as today, we have pools of currencies available for investors to choose from, with newer ones coming in with each passing day and tons of new investors joining in every hour.

Speaking of a lot of currencies available today in the marketplace, some of the most popular ones worth investing in includes Bitcoin, Cardano, Baby Doge, Ethereum, Dogecoin, Polkadot, Binance Coin, PancakeSwap as well as EverGrow Coin to name just a few of course. 

In addition to this, it feels rather interesting seeing such a rapid growth of the industry over the past couple of years and so, let’s look at some of the major contributing factors responsible for this huge success including portability, high-profit margins, volatility, negligible response time, convince it offers, intuitive nature as well as ease of use of course.

Being volatile, it is important for you to be aware of the fact that, it is not always possible to predict the price changes and act accordingly as the price fluctuations in the crypto marketplace are almost immediate, thus leaving no time to plan. Therefore, whenever dealing in online currencies, keep in mind that, if the industry is providing you with an opportunity to earn huge profits and make quick money, if not done right, you could also end up having significantly huge losses as well.

Not just that, as per the chatter amongst some of the leading experts on the field, it has come to our notice that, crypto is rapidly progressing towards completely revolutionizing the global payment system and from where I stand, it looks like it has already started to do so as many merchants and businesses have started accepting crypto as an official mode of payment from their customers.

Now that you have a brief backstory about the crypto world, you will be able to have a much better understanding of what we have with us today, ApeCoin. To know more, I suggest you read further!

Everything to know about ApeCoin (APE)

ApeCoin or as commonly referred to as APE is nothing but an ERC-20 utility and governance token which is known to be used within the APE ecosystem in order to incentivize as well as empower an entire decentralized community building at the forefront of Web3.

Not just that, ApeCoin holders are said to govern themselves with the help of the decentralized governance framework controlling the ApeCoin DAO (decentralized autonomous organization) and vote on how exactly the ApeCoin DAO Ecosystem Fund should be put to use. 

Apart from this, the APE Foundation administers proposals that are already agreed upon by ApeCoin holders. Before moving on any further, it is probably worth noting that, ApeCoin is a decentralized project that is known to have been inspired by Yuga Labs’ Bored Ape Yacht Club project. Also, ApeCoin was founded to have been used within the burgeoning APE Ecosystem, which as mentioned, is supported by the APE Foundation.

Also, APE is the native utility token of the ApeCoin platform, which as a matter of fact can easily be used for a variety of purposes on the platform itself like allowing ApeCoin holders to participate in ApeCoin DAO, while also being used in order to get access to merchandise, games, services, and events.

Speaking of the ApeCoin DAO, it is said to be entirely focused on building and maintaining the APE ecosystem in a rather fair and inclusive manner, thus providing an infrastructure for ApeCoin holders to easily collaborate via an open and permissionless governance process. In addition to this, an administrative council within the APE Foundation, also known as the ‘Board’, will carry out all the decisions of ApeCoin DAO members. 

The Board that we just talked about is largely responsible for bookkeeping, day-to-day administration, project management as well as various other tasks that help in ensuring the community’ ideas have the support they require in order to become a reality. Know that, ApeCoin DAO members vote on Board members.

Furthermore, as discussed previously, ApeCoin is the APE Ecossytem’s governance token, which is responsible for allowing token holders on the platform to participate in ApeCoin DAO and giving its participants a shared and open currency that can easily be used without centralized intermediaries. Having said that, about 62 percent of all ApeCoin has been allocated to the Ecosystem Fund, which will support the community-driven initiatives as voted on by ApeCoin DAO members. 

Other than this, ApeCoin is one such platform that is also known to provide access to certain parts of the Ecosystem that are otherwise unavailable including exclusive games and services. However, for third-party developers, ApeCoin is rather a tool used for participating in the ecosystem by incorporating ApeCoin into games, services as well as other projects. 

It is worth mentioning that, the APE Foundation was gifted a 1 of 1 non-fungible token (NFT) by Yuga Labs, the creator of Bored Ape Yacht Club. Yuga Labs is known to have conveyed all rights as well as privileges to this NFT and its underlying artwork to the APE Foundation. Lastly, the total supply of ApeCoin is permanently fixed at about a billion tokens, all minted at once. 

On launch day, March 17, 2022, nearly 30.25 percent APE will be in circulation and this percentage will continually increase following the launch day at regular intervals over a period of 48 months. Not just that, the amount of APE in circulation is a dynamic number that will constantly change both due to a myriad of market factors as well as the aforementioned schedule. 

Now that we have talked much about ApeCoin, some of you must be wondering, whether or not it is a good idea to invest in the platform? If that’s the case, then let’s find out, shall we?

Investing in ApeCoin (APE)

Since the ApeCoin has not been launched yet and will take some time to get listed on various cryptocurrency exchanges all across the world, unfortunately, a few key details are not yet available such as the current price of the APE token, its market cap, the current circulating supply, the maximum lifetime supply of the token as well as its position as per the CoinMarketCap rankings of course. 

Reading so far, you must have gotten a fair understanding of the platform and by now, you should be able to figure out on your own whether or not investing in ApeCoin is the right thing for you to do. Seeing what it has to offer when combined with its performance in the recent past as well as its plans for the near future, I certainly believe that ApeCoin can prove to be a risky investment in the near future, which is likely to provide you with fewer returns and it is a possibility that your current investment may decrease in value. But again, nothing can be said for sure!

As mentioned at the very beginning, crypto is a highly volatile marketplace and is extremely uncertain. Thus, It is very important for you to understand the fact that just like any other currency in the crypto marketplace, ApeCoin does have its own risks as well and you should invest only if you are willing to take those risks and bear any and all losses if at all necessary.

If you are wondering, where can you buy ApeCoin? Let me help you with that. Currently, ApeCoin is not listed on many cryptocurrency exchanges, naturally so as the currency has not been launched yet but I sincerely believe that soon the APE token will be listed on all major cryptocurrency exchanges worldwide, thus making it far easier for potential investors to trade.  

In conclusion, what are your thoughts on ApeCoin? Do let us know in the comments area below. To know more about various cryptocurrencies, do check out other articles we have on our website. Thank you for your time & if you found our content informative, do share it with your investor friends!

Also read: Polkastarter: Everything you need to know