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.
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:
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.
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.
Choose exchanges that are open with their pricing and how they charge clients for buying ApeCoin on their platform.
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.
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.
eToro has a proprietary trading platform that can be accessed on both desktop and mobile devices.
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.
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.
You need to register and verify your account with eToro before you can buy APE.
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.
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.
You can buy ApeCoin on crypto brokers like eToro and Coinbase.
You can buy ApeCoin by logging into your trading account, searching for APE, typing the amount you wish to trade and clicking on “Open Trade”.
Yes, eToro is a safe broker to buy ApeCoin.
According to coinmarketcap, ApeCoin has a total market cap of $1.4 billion.
Yes, APE is one of the most used coins in the Metaverse.
To buy APE with your credit card, log into your trading account, click on deposit funds and choose the “Credit card” option. Enter your credit card details and the amount you wish to deposit. After deposit, search for APE and enter the amount you wish to invest. Click on “Open Trade”.
The minimum amount you can spend on APE is $10.
Yes, eToro offers a multisig digital crypto wallet for ApeCoin.
Yes you can transfer your ApeCoin from eToro to another wallet.
ApeCoin is a good buy if you are looking to venture into the world of NFTs and the Metaverse.