How to Buy APE Tokens in Canada
A guide on how to buy Apecoin (APE) in Canada with Netcoins
“ApeCoin is believed to one day rule the metaverse and takeover major cryptocurrencies in the market.”
ApeCoin was launched in March of 2022 as the governance token of the ApeCoin DAO (decentralized autonomous organization). Holders of ApeCoin have the opportunity to vote on decisions that will shape the wider APE ecosystem including governance guidelines, partnerships, projects, allocation of ecosystem funds, and more.
APE is closely associated with Bored Ape Yacht Club (BAYC), an NFT project created by Yuga Labs made up of 10,000 different pieces. BAYC consistently ranks among some of the top NFT projects and has recently begun exploring the metaverse space, which through their project “Otherside” uses APE as a form of payment.
If you are wondering how to buy APE tokens in Canada, Netcoins is a publicly-traded, fully regulated crypto trading platform based in Canada. With 0% funding fees, free cash withdrawals, and live customer support service seven days a week, we make it simple for Canadians to buy ApeCoin (APE) and other cryptocurrencies.
How to Buy APE in 3 Steps
Create an Account
Sign up for an account and provide some personal details to get your account verified.
Fund your account with a crypto deposit, Interac e-Transfer, or bank wire.
Go to the trade page and enter in the amount you’d like to buy or sell. Start with $10 or more. You decide!
Rapid Transaction Times
Fund and withdraw quickly. Buy and sell instantly. Get your money or crypto in and out easily.
Get verified at lightning speed with our automated KYC process. Get help from our support agents if needed.
Top Rated Support
Our support team is available over email, phone, and live chat to answer all your questions clearly and quickly.
Video Tutorial: How to Buy USDC with Netcoins
Publicly Owned Company
How Safe is APE to Invest in?
In parallel to the cryptocurrency market, ApeCoin has seen volatility in its price since its creation. The first thing to prepare yourself for before investing in ApeCoin is the volatility that will be present in the future. Buying APE tokens in regular intervals (like daily, weekly or monthly) is known as dollar cost averaging and allows you average in the price you buy at.
Given that ApeCoin is a rather new cryptocurrency, investing in it comes with some risk. For some investors, Bored Ape Yacht Club (BAYC) is a solid project with an avid fanbase. However, expectations surrounding things such as the NFT project itself and “Otherside”, its metaverse world, could cause complexities for price performance if things don’t pan out perfectly. If it all goes well, it could continue to experience price growth.
Diversification is a very important investment strategy that limits the downside if things don’t pan out well. ApeCoin may have a bright future as long as it remains relevant and continues to execute on its goals. The future could look safe and optimistic for the APE community.
How Much APE Can I Buy?
APE tokens are highly divisible, just like other cryptocurrencies. You can buy an ApeCoin (APE) in full or in fractions. Using a platform like Netcoins to buy APE tokens allows you to purchase any dollar quantity of APE you’d like. Buying a single token, numerous tokens, or fractions of a token are all alternatives available to meet your investing plan.
Netcoins, Canada’s first publicly-owned and fully regulated cryptocurrency exchange, offers all of these possibilities.
How to Store Your APE tokens?
You can buy APE tokens from crypto trading platforms, like Netcoins, and leave your APE inside the platform. However, there are much safer options to storing your APE tokens as leaving them in exchanges can expose them to certain risks like hacking and theft.
The safest option to keeping your APE tokens secure is to transfer them into an APE wallet. An APE wallet is a type of digital wallet that is used to send and receive APE, similar to a Google wallet or a physical wallet.
There are four different types of APE wallets: hardware wallets, desktop wallets, mobile wallets and web wallets.
Hardware wallets look like a USB device. They are considered to be offline wallets because they’re not connected to the internet. The fact they’re offline makes them more difficult to find and to hack. As such, they’re typically considered the safest option to store your APE.
Desktop wallets on the other hand are programs that store your APE on your computer’s hard drive. Mobile wallets perform the same function as a desktop wallet but on a mobile device instead.
Finally, a web wallet is an online service that sends and stores your APE on your behalf anywhere, anytime. Similar to checking your email.
Desktop, mobile and web wallets are all connected to the internet (and referred to as “hot wallets”). Like mentioned earlier, they are more susceptible to potential risks. On the other hand, hardware wallets (or “cold wallets”) are considered safer options as they are not connected to the internet.
This is why it’s often advised that Canadians pull out their APE from crypto trading platforms and send them directly to a hardware wallet. Only in this way, are they in full possession of their APE and can keep them secure.
Why Buy APE?
ApeCoin’s appeal to investors comes from its goal of backing the Bored Ape Yacht Club ecosystem. With goals of expanding into the metaverse and the finance space (by becoming a spending currency), APE appeals to investors because of its solid pipeline, fun name and strong community support.
In addition to that, here are four more reasons why Canadians are also interested in buying APE tokens.
There is a finite supply of APE. With a supply cap of 1 billion tokens, there will never be more than 1 billion ApeCoin in existence, making it a deflationary asset and a hedge against things such as inflation.
APE is decentralized. A single authority does not control APE; alongside that all transactions on the network are transparent, helping to build trust between the project and the community that surrounds it.
The future is bright for APE. With a strong product pipeline including the metaverse world “Otherside”, ApeCoin’s correlation to the metaverse space makes it an exciting place on the next frontier in technology.
ApeCoin has strong support. With its correlation to the Bored Ape Yacht Club, ApeCoin already has the support of a very large community. As long as the project executes its goals, the support is there to expedite the adoption of APE significantly.
What Can APE Be Used For?
APE’s value proposition comes from its correlation and potential impact on the Bored Ape Yacht Club ecosystem. As the governance token of the project, holding APE tokens allows you to vote on community decisions made to improve the project as a whole. In addition, being part of the DAO means a large pool of capital is available to spend and further develop the Bored Ape ecosystem.
One clear example of this has been “Otherland”, the Bored Ape Yacht Club metaverse powered by ApeCoin. As long as the ecosystem continues to grow, ApeCoin’s correlation to the project may prove effective in generating price appreciation over the long run. Investors could benefit from ApeCoin by holding it as an investment asset or by using it alongside the growing Bored Ape Yacht Club ecosystem.
What’s the Difference Between ApeCoin (APE) & Shiba Inu (SHIB)?
ApeCoin and Shiba Inu have several similarities when compared to each other that span beyond their monkey-dog relationship. To start, they are both ERC-20 tokens. That means that rather than having their own blockchain, they run on the Ethereum network.
Although this does limit their capability, it fits their purpose and gives both projects the safety and security of the Ethereum network. Both tokens also have supply caps. There will never be more than 1 billion ApeCoin in circulation; same with Shiba Inu at 1 quadrillion.
Related: How to Buy SHIB in Canada
The key difference that investors need to understand is the difference between ApeCoin and Shiba Inu from an investment perspective. Since its inception, Shiba Inu has proved to be a much more volatile cryptocurrency, minting many new millionaires through its fierce price action. This, paired with its smaller token price, has made it intriguing for day traders to take advantage of its short-term price movements.
In contrast, ApeCoin has a larger price per token paired with a more long-term-focused community. Given its extensive product pipeline (and roadmap), investors should expect to wait a longer period of time before potentially seeing proper results.
Both coins are similar at their cores, but key differences offer investors a larger variety of options depending on their preferred investing strategy.
Related article: The Pros and Cons of Day-Trading vs. Long-Term Crypto Investing
Is APE a Good Investment in 2022 & Beyond?
ApeCoin is off to a solid start. With tailwinds such as new product development, further adoption, and the general direction of the crypto markets, there are several things to be excited about moving into 2022 that could change the trajectory of APE as an investment.
APE is used to provide ecosystem governance, utility, and a number of perks that are only available to APE crypto holders. Therefore, moving into 2022, ApeCoin is a cryptocurrency that aims to power the Bored Ape Yacht Club web3 economy, which includes new products and incorporations into video games, art, entertainment, and memes while bridging the digital and physical worlds through in-person events and ApeCoin-branded merchandise.
A bet on APE is a bet on the continued growth of Bored Ape Yacht Club. New product launches, further support from an avid community, and implementations as a spending currency are some of the many reasons that make ApeCoin an interesting bet moving into the future. And if you are an investor looking to buy ApeCoin in Canada, Netcoins provides a simple and easy way to get started.
This post is for informational purposes only. For proper financial advice, we recommend you speak to a financial advisor.
Frequently Asked Questions
Why buy APE?
Holding APE tokens can be a great way for investors to diversify their portfolio by having non-traditional assets mixed in with traditional assets.
People invest in ApeCoin for four main reasons:
- There is a fine supply of APE tokens (capped at 1 billion)
- APE is decentralized
- The future of APE looks bright with a strong product pipeline
- ApeCoin has a strong community of supporters
Now that you know a little more about how to buy APE and why it’s a good investment, trust Netcoins to help you. We make it easy to buy APE crypto so that you can buy as much as you like – or as little as $10 – in a quick and easy way. Contact us if you need support.
How much APE should i buy?
A common misconception is that you have to buy 1 entire ApeCoin, but you can actually buy fractions of an ApeCoin. You can start off with as little as $10, or invest a certain % of your wealth.
Many beginners start off by dollar-cost averaging in, which is the practice of putting in a set amount of money towards APE in regular intervals (for example $100 every month).
Why is KYC (Verification) required?
As a Money Service Business (MSB) registered with FINTRAC, we are required to have a Know-Your-Customer (KYC) process and compliance program in place.
KYC is a process that allows us to verify the identity of our customers, as per Canadian regulations.
What do I need to provide for your verification process?
You will have to provide your email address, phone number and personal information including your first name, last name, address, date of birth and a piece of identification (like a driver’s license). Most users are verified at this point through our automated process.
If you don’t pass the automated KYC process, you will have to go through an additional document verification stage. This is important and required as we are a regulated money service business in Canada.
How can I fund my account?
Your Netcoins account can be funded with a cryptocurrency deposit, Interac e-Transfer, or a bank wire transfer.
Once you have funds in your Netcoins account, you’ll find that it’s super easy to buy APE in Canada.
Can I send my crypto to an external wallet?
Yes, you can either keep a crypto balance within your Netcoins account or withdraw it into your own external wallet. While FIAT withdrawals are free, there is a small withdrawal fee associated with crypto withdrawals.