Crypto investors this morning have been unable to take their eyes off of ApeCoin (APE-USD). The currency is set to change the way users interact with the Bored Ape Yacht Club non-fungible token (NFT) brand. And with its immediate surge in market capitalization, it could be one of the hottest altcoins right now. As such, investors are seeking out where to buy the ApeCoin (APE) crypto. Luckily, there are already plenty of options.
ApeCoin is the newest cryptocurrency that is grabbing widespread attention from investors, due in large part to its association with Yuga Labs’ Bored Ape NFT collection. Indeed, the Ape collection is one of the most well-known series of NFTs across the globe, thanks to celebrities like Justin Bieber and Eminem buying their own.
The crypto itself is not a Yuga Labs product; rather, it is the product of a decentralized autonomous organization (DAO) calling itself ApeCoin DAO. This community is looking to decentralize the Bored Apes brand by implementing a currency controlled by community members. Yuga Labs is fully backing the currency, and says it will be using APE to underlie all of its future products.
Where to Buy the ApeCoin (APE) Crypto
The ApeCoin (APE) crypto might be brand new — launching just yesterday. That hasn’t stopped it, however, from experiencing a good deal of excitement. Through its airdrop, existing Bored Ape NFT holders received APE rewards. This airdrop is fairly distributing the crypto to active community members, but not without tumult. As InvestorPlace contributor Joel Baglole reported this morning, APE has been experiencing some volatility through an exploit and general profit-taking by investors who received their rewards already.
Still though, with the project’s momentous start, APE is already one of the largest cryptos in the world with a market capitalization of nearly $4 billion.
It seems plenty of investors aren’t shaken by this volatility, likely due to the reputation of a project endorsed by one of the largest NFT collections in the world. With this in mind, there are many places to buy the ApeCoin (APE) crypto to get in on the action.
If you’re an owner of qualifying Bored Ape NFTs already, obtaining ApeCoin is simple and free. All you need to do is to claim your APE reward through the ApeCoin website. For those who don’t own an Ape NFT, there are still plenty of options.
ApeCoin DAO’s board consists partly of executives from FTX, which made the platform one of the first to offer APE. In the wake of the token’s launch, a slew of other huge exchanges have also taken on APE trading. Gemini, Crypto.com, Coinbase (NASDAQ:COIN), Huobi and eToro are all accommodating APE trades.
On the date of publication, Brenden Rearick did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
