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.
1. Create an Account
Visit the Netcoins website and click on the sign-up button. Or download the Netcoins app from the app store for mobile. Enter your email address, create a strong password, and agree to the terms and conditions. You will receive a confirmation email, click on the link to verify your email address.
2. Fund It
Choose your preferred funding method: bank wire transfer, interac e transfer, crypto deposit, or cash deposit. Follow the prompts to transfer funds into your Netcoins account. The process is quick and incurs no fees.
3. Start Trading
Is APE Safe 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.
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.
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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 “Otherside”, 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.
FAQs
Why is KYC (Verification) required?
Netcoins Inc. is a licensed money service business under FINTRAC, and a registrant under the Provincial Securities Commissions, and adheres to the strict guidelines set by them for Money Transmitter Businesses and Securities Registrants. We are required to have a Know-Your-Client (KYC) process and compliance program in place. KYC is a process that allows us to verify the identity of our customers.
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.
How can I fund my account?
Your Netcoins account can be funded with a crypto 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.