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The Rise of ApeCoin: An ERC-20 Token Used Within the APE Ecosystem

ApeCoin (APE) is an ERC-20 token used within the APE ecosystem launched In mid-March of 2022. ApeCoin is the ecosystem’s governance token, allowing ApeCoin holders to participate in ApeCoin DAO. 

ApeCoin will also be used to access games, merchandise, events, and services via the ApeCoin portal or at vendors who accept ApeCoin as payment within their storefronts or applications.

What is an APE coin?

APE coin (APE) is an ERC-20 token used within the APE ecosystem launched In mid-March of 2022. ApeCoin is a governance token, allowing Ape Coin holders to participate in ape coin DAO. Apes and humans may also use it to access games, merchandise, events, and services.

Why Does It Exist?

Cryptocurrencies are used to create ecosystems where users can engage with each other directly and incentivize themselves. This allows them to be self-sufficient without depending on an outside organization like Apple, Google, or Microsoft. The rise of blockchain technology has allowed for a new type of economy in which there are no borders or middlemen. 

In fact, blockchains will enable you to exchange value directly with another party without having to go through any intermediary. Since it’s just two parties transacting with each other, they both have equal rights when participating in transactions. They can negotiate on equal footing about what’s going on. 

ApeCoin is one such ecosystem that has been launched within the past year. It was created by a group of crypto enthusiasts who wanted to provide their own incentives as well as those from others within their community. 

They wanted people to use their tokens not only for transactions but also as a way to reward others who contributed positively to its ecosystem. For example, suppose someone writes an interesting post that gets many upvotes. 

In that case, they might receive some ApeCoins from others who appreciated their contribution. That person could then spend those coins on something else within that ecosystem-like buying merchandise or getting access to exclusive content-or trade them back into fiat currency at some point in time if they choose not to spend them right away.

What Does ApeCoin Do?

Although it is similar to Ethereum, there are some major differences. As a quick refresher, Ethereum’s primary function is to act as a platform for other apps and smart contracts rather than being an app itself. 

As such, its tokens are more generic and open for use by anyone. These two different types of crypto are sometimes referred to as security tokens (such as stocks) and utility tokens (gift cards or store credit). 

Because it has both uses, APE can be thought of as a security token or just an app token in disguise-which you probably know it is.

How Do I Get My Hands on Some?

Don’t know how to buy APE coins? ApeCoins (APE) will be available for purchase on exchanges after launch. However, there is no indication as to which exchanges. If you are looking to use one particular exchange, the best bet is to reach out and contact them directly, letting them know that you are a future customer looking for APE. 

Try searching Google with your favorite exchange name and APE, or visit their official site. Once an exchange has confirmed they will be accepting ApeCoins (APE), buyers can send fiat currency like USD or Euros to that exchange to purchase APE tokens at market price.

Conclusions 

The ApeCoin community has been working towards self-sufficiency for a number of years. The launch and subsequent success of their crowdfunding campaign show that there is a high level of interest in what they are building. In addition, using an ERC-20 token is also a sound decision since it allows for interoperability with Ethereum dApps as well as other tokens on Ethereum.

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