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The Bored Ape Yacht Club NFTs are among the highest rankings collections on OpenSea and have been trending in the media since their release in April 2021. Now, as of this year, NFTs are no longer the only way to have a stake in the Bored Ape Yacht Club ecosystem.
On March 17, 2022, the creators of this famed ecosystem released their own token called ApeCoin. Here’s a quick run-down on what you need to know…
ApeCoin: A Primer
ApeCoin is an ERC-20 utility and governance token from the creators of the Bored Ape Yacht Club NFT collections, Yuga Labs. It is considered the primary token of the APE ecosystem and it can be used for purchase of their exclusive products and services.
As BAYC’s native currency, ApeCoin exists as a decentralized protocol layer to support projects and initiatives led by its users. Owners of ApeCoin can propose and vote on changes in the ApeCoin DAO – a decentralized organization entitling users to a say on governance decisions about the token.
As an ERC-20 token, ApeCoin can be used as payment in many Web3 apps even outside of the Bored Ape Yacht Club ecosystem. APE holders are also granted the ability to unlock access to merchandise, events, games, and other services.
How to Buy and Sell ApeCoin on Bitbuy
You can buy ApeCoin securely and safely on Bitbuy in 3 quick steps:
- First, sign up for an account on Bitbuy.ca. You will need to provide your phone number and email address so we can verify your identity
- Once your identity has been verified, transfer funds to your account by e-transfer or bank wire, starting with as little as $50.
- Once your funds have been deposited, you can select and buy MANA along with other cryptocurrencies instantly! Use your Bitbuy account to buy, sell and trade all the cryptocurrencies on Bitbuy’s platform.
