ApeSwap Review 2023
ApeSwap is a popular decentralized exchange created by DeFi Apes in 2021.
It runs on 2 different chains including Ethereum, BNB Chain.
ApeSwap offers features such as nfts, liquidity mining, lending, nft marketplace, limit orders, staking, yield farming, launchpad, spot trading and more.
We rated ApeSwap 4.5/5, based on it's features, security, and future prospects.
This DEX sells NFTs that you can buy and collect. They're great for profile pictures, and in some cases could be used for staking. Though this depends on the DEX.
ApeSwap allows you to earn passive income by providing liquidity. You're given LP tokens in return, which are interest bearing. The interest comes from trading fees generated by ApeSwap.
Supports decentralized lending. You add collateral and get crypto to play around with. Provided your collateral doesn't fall below a given price, you get to continue trading. Beware, you can lose your initial collateral if you're not careful. If you're a newbie, it's recommended that you stay away from this feature.
NFT Marketplace. Hosts an NFT marketplace where you can buy/sell/auction NFTs. Find collectibles and utility NFTs that you can flip or add to your collection.
Limit orders are trades that execute at a specified price. They're great for executing trades while you're away from your computer. ApeSwap handles the execution for you, and you may incur lower transaction fees than if you market buy/sell.
Has staking for it's native token; allows you to earn passive income.
Hosts incentivised yield farms. You can earn boosted rewards from staked LP tokens. This is a great way to earn more crypto. Projects put up tokens for you to earn, often for marketing efforts.
Has a project launchpad that launches new tokens.
This means you can buy and sell the real thing. Actual crypto. Not a futures contract or derivative.
All DEXs charge trading fees. ApeSwap is no different.
Trading fees incentivise liquidity providers to provide liquidity to ApeSwap. This enables people like you to freely trade between tokens without incurring too much slippage.
ApeSwap does not charge withdrawal fees.
DEXs, generally, do not require you to deposit funds onto them. Therefore there is nothing to withdraw. This is one of the many great things about dencentralized exchanges. You get to be the sole custodian of your funds.
How to use ApeSwap?
- Get a crypto wallet that supports web3 on one ApeSwap's of supported chains.
- Deposit crypto into the wallet, ensuring you have tokens for gas
- Navigate to ApeSwap's homepage
- Connect your wallet to the website
- Goto Swap/Trade
- Choose a token that you'd like to swap to
- Finally, swap!
Where can I buy BANANA ?
You can by BANANA direct from ApeSwap. It is the native token of ApeSwap, and they will therefore offer the most liquidity.
Is ApeSwap safe?
Yes, ApeSwap is safe to use. However, you should be aware that crypto trading carries inherent risk. dApps are vulnerable to exploits, so make sure to DYOR before investing.
What chains do ApeSwap support?
ApeSwap supports Ethereum, BNB Chain.