How to buy ApeSwap (BANANA) in Australia
Learn how to buy ApeSwap (BANANA) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
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How to buy ApeSwap
1. Compare crypto exchanges
The easiest way to buy ApeSwap is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
2. Create an account
To create an account on an exchange you will need to verify your email address and identity. Have some photo ID and your phone ready.
3. Make a deposit
Once verified, you can deposit $ using the payment method that best suits you – cryptocurrency and epay payments are widely accepted.
4. Buy ApeSwap
You can now exchange your funds for ApeSwap. On easier-to-use exchanges, this is as easy as entering the amount you want to purchase and clicking buy. If you like you can now withdraw your ApeSwap to your personal wallet.
Where to buy ApeSwap in Australia
Find an exchange to buy, sell and trade BANANA by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Steps on how to buy ApeSwap
Look for an exchange that supports both fiat and cryptocurrency to simplify buying ApeSwap.
- Compare cryptocurrency exchanges that support BANANA.
Cryptocurrency exchanges differ by fees, security and payment methods, so you'll need to research which is the right fit for you. As a beginner, you don't need a big range of features, and you can always change exchanges later.
- Create an account on an exchange.
You can sign up for an account by selecting the Go to site button. This will take you to the account creation page, where you can fill in your details, starting with your name and email address..
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy ApeSwap.
- Buy ApeSwap.
Complete your ApeSwap purchase and then find the best wallet to store BANANA.
What to consider when buying ApeSwap
Cryptocurrencies are highly speculative assets that come with a range of risks. Those that are considering BANANA as an investment should consider the following factors:
- Competitive market: Although the team at ApeSwap has created a unique user interface, along with an innovative theme, the DeFi space is saturated with decentralised exchanges and lending protocols. DEXs such as Uniswap and SushiSwap and lending protocols, such as Aave and Compound, have large user bases and a first-mover advantage which ApeSwap Finance needs to compete with.
- Unknown development team: Although it is common within the cryptocurrency industry for developers and users to use pseudonyms and not show their identities, the team behind ApeSwap is completely unknown. An unknown development team can sometimes be considered a red flag for those considering investment. Although having a clear image of the team does not remove the risk of rug pulls or malicious code, it does often help garner credibility for a project.
- Inflationary token supply: BANANA does not have a fixed maximum supply of tokens. New BANANA tokens can be added to the circulating supply at any time. It is important to remember that an increasing circulating supply often places downward pressure on price. However, the ApeSwap Finance application has tried to include deflationary burning mechanics to offset this ongoing inflation.
- Deflationary burn mechanism: According to ApeSwap’s documentation it is the intention of the application to eventually make BANANA a deflationary token. Until that happens, the application has in place a series of burn mechanisms to reduce the circulating supply and keep inflation at bay. These include: a quarterly DEX buyback and burn that uses 50% of all transaction fees to burn BANANA on a quarterly basis, and a weekly manual burn that burns 0.3 of every 11 BANANA emitted per block.
How to sell ApeSwap
You can cash out your BANANA with the same exchange you bought it through:
- Sign in to the exchange you have BANANA on.
If you store your ApeSwap in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of BANANA you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of ApeSwap.
Disclaimer: Cryptocurrencies, including ApeSwap, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of BANANA is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the ApeSwap or any other cryptocurrency discussed.
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