How to Buy ApeCoin (APE) on eToro: Fees, Features & Step by Step Guide

Summary

ApeCoin has grown in popularity as one of the tokens inspired by the Bored Ape NFTs and has become heavily requested in recent times. Having become one of the largest crypto exchanges in the world, eToro is a safe place to trade ApeCoin and other cryptocurrencies. The broker allows the use of multiple payment methods to purchase the coin.  

This guide will look at how to buy ApeCoin (APE) on eToro. It will also look at the things to consider when choosing a broker, how to use all the payment methods available, a step-by-step guide on how to open an account and the types of trading platforms available on the eToro trading broker.

Things to Consider when Choosing ApeCoin (APE) Exchange

If you are looking for where to buy APE, there are a few things you should consider. The same applies to when you want to buy crypto in general. They include:

Location of ApeCoin Exchange

The headquarters and location of the exchange determine the financial regulatory body that oversees the exchange, and the laws that govern the exchange. Try to pick an exchange located in a place with favourable laws. 

List of Available Payment Methods

Exchanges with multiple payment methods make deposits and withdrawals easy for traders. Pick exchanges with multiple payment methods including credit cards, debit cards and e-wallets.  

How to Check the Cost and Fee

Choose exchanges that are open with their pricing and how they charge clients for buying ApeCoin on their platform. 

Volume Listing

The volume listing on an exchange shows the range of buy and sell orders placed by customers. This makes the exchange more trustworthy and gives the trader an idea of the level of trading activity for an asset.  

What you need to know before Buying ApeCoin (APE) on eToro

eToro is a financial exchange platform that offers trading for crypto, forex, stocks and other financial instruments. The broker has head offices in Australia and the UK, meaning it is regulated by the ASIC and the FCA. It is also regulated in Cyprus by CySEC.

You can find both real ApeCoins and APE CFDs with low fees and spreads on eToro. The broker offers leverages up to 1:2 on ApeCoin CFDs for traders in the EU, and up to 1:5 for traders in Seychelles. 

The platform offers a wide range of payment methods, like credit cards, debit cards, bank wire, PayPal, Neteller and Skrill. 

Types of Platforms Offered on eToro to Buy ApeCoin (APE)

eToro has a proprietary trading platform that can be accessed on both desktop and mobile devices. 

Desktop Platform

eToro desktop platform is available on your computer and other desktop devices. On this platform, you have access to the volume listing, and economic calendar, and you can view up-to-date news and notifications about APE or any other crypto you might be interested in. You can also utilise the social trading feature that allows you to copy other traders’ portfolios and strategies.

Mobile App

If you prefer trading on a mobile device, you can use the eToro mobile app on your smartphones and tablets. It has all the features available on the desktop platform with the added advantage of real-time trading news and trading on the go with a smartphone device you can carry anywhere.   

How to Buy ApeCoin (APE) on eToro

You need to register and verify your account with eToro before you can buy APE. 

A Step by Step Guide on How to Buy ApeCoin on eToro

1. Go to eToro.com and click on “Start Investing”
2. Enter your email address and password to register your account on the platform.  
3. After registration, you will be required to verify your account by providing proof of identity and proof of address documents
4. Once your account is verified, log onto your account and search for “Deposit funds on the bottom left side of your trading account. Click on it.
5. Choose a payment option (bank transfer, PayPal, Neteller, credit/debit card, etc.) and confirm payment.
6. On the trading platform, search for APE and click on “Trade”
7. On the new window, click on invest. Enter the amount you wish to invest and click on “Open Trade”

How to Open a ApeCoin Trading Account on eToro

1. Visit the homepage of the eToro website and select “Start Investing”
2. Enter your email, username and password
3. eToro will send you an email to verify your email address. Go to your email and click on the link to verify your address.
4. Provide your IDs and documents to verify your account before you start trading
5. After verification, you will be redirected to the trading platform where you can see all the information about your profile and trading portfolio. 

How to Buy ApeCoin Using Visa or Mastercard Credit Cards on eToro

1. Log in to your trading account
2. Click on “Deposit Funds”
3. Select the “Credit/Debit Card” option and enter your credit card details.
4. The platform will verify your credit card details and transfer the money from your account to your trading account.
5. Search for “APE” and click on “Invest”
6. Put in the amount for trading and select on “Open Trade”

How to Buy ApeCoin Using Visa or Mastercard Debit Cards on eToro

1. Log in to your trading account
2. Click on “Deposit Funds”
3. Select the “Debit Card” option and enter your debit card details.
4. Allow some time for eToro to confirm your credit card details and make the required transfer to your account.
5. Search Look for ApeCoin by typing APE in the search bar and select “Invest”
6. Type in the amount you wish to trade in dollars and select “Open Trade”

How to Buy ApeCoin Using Paypal on eToro

1. Enter your trading account with your email and password
2. Select “Deposit Funds” on the left hand side of the trading platform.
3. Select the “PayPal” option and enter your PayPal email address.
4. The platform will transfer you to the PayPal website where you would verify your PayPal information and transfer the funds to your trading account.
5. Type “APE” in the search bar above and click on “Invest”
6. Type an amount you want to trade and click on “Open Trade”. The minimum amount to trade is $10.

How to Buy ApeCoin Using Skrill on eToro

1. Open your trading account with your password and email.
2. Select “Deposit Funds” from the bottom left corner of the trading platform.
3. Select the “Skrill” option and enter your Skrill email address.
4. The platform will transfer you to the Skrill website where you would verify your information and transfer the funds to your trading account.
5. Search for “ApeCoin” on the search bar and select “Invest”
6. Type in the amount you wish to trade (minimum amount you can trade is $10)  and select “Open Trade”

How to Buy ApeCoin Using Neteller on eToro

1. Use your email and password to log in to your account
2. Select “Deposit Funds”
3. Choose “Neteller” and type in your Neteller email address.
4. The platform will transfer you to the Neteller website where you would verify your information and transfer the funds to your trading account.
5. Search for “APE” in the search bar on the top right-hand side and click on “Invest”
6. Enter any amount above $10 for trading APE and click on “Open Trade”

How to Buy ApeCoin Using Bank Wire on eToro

1. Access your trading account with your email address and password.
2. Click on “Deposit Funds” on the bottom left side of the trading platform.
3. Select the “Bank Transfer” option and enter your bank details.
4. The platform will show you the bank account details to transfer the money to. You can go to your mobile bank app or physical bank location to carry out this transfer.
5. Type “APE” in the search bar and select “Invest”
6. Type in any amount you wish to trade and select “Open Trade”

Buying ApeCoin vs Trading ApeCoin CFD at eToro

As previously mentioned, you can choose to buy real APE coins or trade APE CFDs when using eToro. If you choose to buy real APE coins, you will own the actual coins, and they can be stored in your wallet. On the other hand, if you trade APE CFDs, you can exchange the difference in the price of the asset from the time the contract is opened to the time it is closed.

There are various benefits to buying real APE coins, such as owning the coins outright and being able to HODL them for an indefinite period. However, due to the high volatility of cryptocurrencies, it can be challenging to purchase and hold them. 

Alternatively, the primary advantage of trading APE CFDs is that you can take advantage of the price fall of the coin, provided you speculate the price drop correctly. However, trading CFDs means trading with leverage, and this method poses significant risks. 

Another risk involved in CFD trading is high swap rates. A swap rate is the interest rate that is charged or paid for holding a CFD position overnight. If the swap rate is positive, then the trader receives interest, while if it is negative, the trader pays interest. If the swap rates are negative while a trader holds a position overnight, it can cost the trader more money than necessary.

Finally, in some countries CFD trading for crypto is illegal. For example, the UK banned it in 2021, so UK citizens cannot trade crypto through derivatives like spread bets and CFDs. 

Bottom Line

In this guide, we were able to look at how to Buy ApeCoin (APE) on eToro. There are various payment methods to carry out this process, but all of them require registering an account on the platform and depositing funds in your trading account. Buying APE on eToro is straightforward and relatively safer than many other brokers. You also have the option to buy the coins as either real or CFDs, with each option having their own benefits and downsides.