Buy ApeCoin in Canada

ApeCoin made simple

Everything you need to know about ApeCoin and how to start investing in it.

Current Price

$5.37 CAD

+$0.08 (1.42%) past 24 hours

Market Cap
$5,334,630,000.00
Circulating Supply
$361,250,000
24h low - high range
$5.16 - $5.39

ApeCoin 101

Launched on March 17, 2022, ApeCoin, also known as APE, is the ERC-20 utility and governance token of the ApeCoin DAO. Although it’s owned by the DAO, APE is associated with the Bored Ape Yacht Club (BAYC), a collection of 10,000 NFTs created by Yuga Labs. BAYC are considered one of the top NFT projects in the crypto space, consistently ranking near the top of NFT marketplaces such as Opensea (rank #1 as of March 2022).

ApeCoin is a governance token, meaning APE holders can vote to alter the protocol that determines the token’s parameters. Each APE token holder therefore has a stake in the development of ApeCoin, voting on decisions in the DAO regarding governance rules, partnerships, projects, ecosystem fund allocation, and beyond. After these decisions are made, an organization called the APE Foundation is tasked to administer them.

As ApeCoin is an open-source ERC-20 associated with the Yuga Labs’ BAYC ecosystem, its main goal is to empower the creation and expansion of web3 communities via four participatory mechanisms: governance (which we covered above), access (APE token holders get access to exclusive events, merchandise, games, and more), incentivization (third-party developers who own ApeCoin can include APE avatars in their games, apps, and services), and as a unit of account (token holders can use ApeCoin as a cryptocurrency without any centralized intermediaries).

Why Wealthsimple Crypto?

Wealthsimple Crypto lets you buy and sell cryptocurrencies all in one easy-to-use app. And as Canada’s first regulated crypto platform, you can trust that your coins are in good hands. How simple is it?

  • Sign up in minutes right from your phone or laptop

  • Start trading crypto with as little as $1

  • No account minimums

  • No clunky dashboards — just one super simple app

  • Best of all: you don’t need to be an expert in crypto or blockchain to get started

Get started with Crypto

What can you do with ApeCoin?

Because it’s an ERC-20 token, APE can be used for payments within participating Web3 apps of all sorts, including those created by third-parties that have no relation to Yuga Labs or BAYC. Developers can use APE within their services, products, and games, and thereby take part in the BAYC ecosystem.

Yuga Labs is also working on developing its own play-to-earn game in partnership with the development studio nWay, and ApeCoin is anticipated to be used for in-game transactions. APE holders get an open and shared currency that they can use without any centralized intermediaries. As we mentioned above, APE owners also get exclusive access and merch, and they can vote on proposed changes to the protocols that govern the token’s parameters.

And of course, as with other digital currencies, you can use APE to speculate, trading or holding it on many crypto platforms and brokerages, including Wealthsimple.

Is ApeCoin a smart investment?

Crypto carries risks — but generally speaking, our advice (regardless of whether you’re investing in ApeCoin or stocks) is: never invest what you can’t afford to lose. The smartest way to grow your money long term is with a diversified, low-cost portfolio that tracks the market.

How we keep your ApeCoin safe

As Canada’s first regulated crypto trading platform, we’re required to meet certain requirements — like using only qualified custodians (like Gemini Trust Company LLC and Coinbase Custody) for cold storage.

FYI: Wealthsimple Crypto is not an exchange itself. Instead, we work with multiple exchanges to give you the best ApeCoin prices.

And to make sure your coins are extra protected, we’ve partnered with Coincover for an extra layer of security.

If you’re holding crypto outside of Wealthsimple, that’s no problem. You can safely transfer your ApeCoin to your Wealthsimple account in just a few taps.

Ready to get started?

Download the Wealthsimple Trade app, create your account, and start trading ApeCoin with just $1. It’s that simple.

By clicking “Create account”, you agree to Wealthsimple’s Terms of Use and Privacy Policy.

FAQs

ApeCoin is an Ethereum-based utility and governance token of the Bored Ape Yacht Club (BAYC), a famous NFT project created by Yuga Labs. ApeCoin is an open-source project, will be used for culture, gaming and commerce to promote creation and expansion of a decentralized community building at the forefront of web3. APE is owned and operated by ApeCoin DAO, a new decentralized autonomous organization where every APE holder gets to vote on proposed changes to protocols.

The total supply of ApeCoin is fixed at 1 billion tokens. As of March 21, 2022, there are around 277 million APE tokens in circulation. The entire token supply will be distributed among five groups: 16% to Yuga Labs and charity, 8% to BAYC founders, 14% to launch contributors, 15% airdropped to BAYC NFT holders, and 47% will be released over the next 48 months as part of the DAO’s “ecosystem fund”.

As ApeCoin is a governance and utility token of the Bored Ape Yacht Club (BAYC), APE token holders can buy new services and goods with the token without centralized intermediaries, such as exclusive merchandise, events, and play-to-earn games that utilize APE as its official currency like upcoming Bored Ape blockchain game being developed by BAYC and nWay. Additionally, in Benji Bananas game by Animoca Brands, APE is accepted for in-game purchases.

Yep! When you open a Wealthsimple Crypto account, you can get started with anywhere from $1 to $1,500 instantly.

Generally speaking, the CRA treats cryptocurrencies as a commodity. Here’s what they say:

Any income from transactions involving cryptocurrency is generally treated as business income or as a capital gain, depending on the circumstances. Similarly, if earnings qualify as business income or as a capital gain then any losses are treated as business losses or capital losses.

Always keep solid records of any ApeCoin transactions. If you use Wealthsimple Crypto to buy or sell cryptocurrencies, we’ll generate some of those tax documents for you.

ApeCoin’s current market cap is 5,334,630,000.

The current price for ApeCoin in Canadian dollars is $5.37.

Buying ApeCoin with Wealthsimple is, well, simple. The first thing you need to do is open and fund a Crypto account in the Wealthsimple Trade app. You can connect your bank account and add up to $1,500 instantly.

From there, follow these steps: 1. Tap the magnifying glass icon in the top right corner of your screen 2. Type in ApeCoin 3. Tap Buy 4. Enter the dollar value of cryptocurrency you'd like to buy and tap Continue 5. Review the order details and tap Confirm order

You can choose between two different order types when buying ApeCoin. A market order lets you buy or sell crypto immediately at the best available price at the time. A limit order lets you buy or sell crypto at a specific price or better.

You can withdraw funds from the cash balance in your Crypto account and move those funds to your bank account. Withdrawals typically take around 2 - 3 business days.

A crypto wallet — often called a “hot wallet” — is a location for holding crypto “on-chain” (i.e. linked to the blockchain versus off-chain cold storage.) Many users use wallet applications to help them manage their blockchain addresses, since each chain uses its own addresses.