The APE coin cryptocurrency has been making waves on the market as an alternative to other leading cryptos, such as Bitcoin and Ethereum.
However, if you’re new to the world of cryptocurrencies, it can be hard to get your head around how APE coin works and how it differs from the other giants in the field.
This APE coin cryptocurrency guide will give you all the information you need to get started, whether you should buy ape coin, and decide whether it’s right for you.
What are cryptocurrencies?
Cryptocurrencies are a form of digital money that uses cryptography to transfer funds securely.
It’s decentralized, meaning there’s no central bank or government regulation; instead, all transactions occur peer-to-peer.
Cryptocurrencies are largely anonymous and mostly untraceable, and they often carry very low fees (and sometimes none at all).
This can make them a convenient way to pay for goods and services online.
What is the APE coin?
The APE coin is a new cryptocurrency based on Ethereum blockchain technology. This exciting new currency isn’t just a digital version of your traditional, run-of-the-mill type of money.
It’s also an online platform that connects people through a decentralized network. The main goal of APE Coin crypto is to become a global exchange medium, especially for gamers and tech enthusiasts.
This is an ERC-20 governance and utility token launched in mid-March of 2020 under a decentralized autonomous organization called DAO.
The total supply of the APE coin is 1 billion, and this number is fixed. However, there are 280 million coins currently in circulation.
-22% for individual founders along with early backers.
-15% for NFT holders.
-The rest are for the DAO treasury and resources.
What makes the APE coin valuable?
Using the smart contract platform as its medium for communications, the APE coin is a cryptocurrency that’s mainly used to exchange game and tech-related data.
It also acts similarly to mobile applications by acting as an account with multiple transactions and having digital assets stored in them until they can be transferred easily or not.
Transactions are handled by creating sets of already known players (NFTs) assigned crypto on their unique ID-specific characteristics such as items and movement paths.
This is then traded or distributed to other players within the system in exchange for APE tokens as a function like purchasing an item with dollars.
The rapid rise of cryptocurrency across different nations around the world has drawn many new investors looking to invest their hard-earned money in something that can provide them financial freedom faster than traditional investments.
However, since early times, there were various coins that did not take off because of their useless features and malfunctioning designs. Some even failed altogether with a low supply.
The APE coin is definitely different from others in the market due to its features of fast transaction speed, easily accessible from any place via phone or PC, especially for people who do games or work in technical fields at home such as computer programmers.
Why is the APE coin a good investment choice?
APE coin is one of the most preferable crypto choices as they are actually making a difference worth investing in. According to multiple online forums and blogs, the APE coin offers a greater degree of security compared to other cryptocurrencies.