Why ApeCoin is the Cryptocurrency to Watch in 2022
While it might be tempting to dismiss ApeCoin as just another token on the market, the unique qualities of this cryptocurrency and its ecosystem make it one that deserves your attention in the years to come.
If you’re interested in how ApeCoin will develop over time, keep reading to learn more about this promising cryptocurrency today.
The ApeCoin Economy
How does APE, a cryptocurrency for an entertainment platform and video game, do anything more than subsidize more entertainment? Because of its unique value proposition. APE does not have a mining process; it was created by opening an escrow account, whereby coins were pre-funded.
Anyone can purchase APE, even if they don’t hold Ethereum (APE are ERC-20 tokens). Still, they cannot take their newly purchased APE off the market until they exchange them with another token on ApeCoin’s platform.
This makes APE a utility token that drives the use of all other ecosystem items. The creation and distribution of new coins will only happen after network growth reaches certain levels, incentivizing holders and developers alike.
What can you do with ApeCoins?
By far, one of APE’s most exciting use cases is its integration with virtual reality and augmented reality. The ability to pay for products or services through a shopping experience goes beyond convenience, and it’s an integral part of APE’s mission.
They’ve worked hard over the last year to integrate a payment layer into their AR/VR platform while also ensuring that people can actually spend APE outside of VR and AR experiences too.
In fact, we’ve got a demo coming out soon that will demonstrate just how easy it is to purchase items using our system. Think Amazon Go but instead of scanning your phone at each item you grab off a shelf, you scan your hand- wouldn’t that be neat?
How does it work?
There are a lot of new cryptocurrencies hitting exchanges every week. If you’re holding APE, it’s your responsibility to determine why. That might mean reading up on one of their decentralized applications or finding out what their core team is up to.
Whatever it takes, find out why ApeCoin has a promising future-or else maybe you should get rid of them before they become worthless. As an ERC-20 token, it’s easy to transfer APE between wallets and exchanges.
You can also track how much money you have in fiat currency by using an exchange like Binance. The crypto market is always changing, so if you aren’t sure about something, then do some research.
It’s all about self-education when it comes to cryptocurrency and blockchain technology. We don’t want people buying into scams.
Why should I care?
First and foremost, cryptocurrencies are speculative investments. They aren’t subject to most of what regular investors worry about as inflation or bank runs. Still, they also don’t have much inherent value outside of their use as money.
And while there will never be money until there are ways for everyone to spend them (as opposed to just buying speculative things), that doesn’t mean we can’t predict how cryptocurrency will change over time.
We can get an idea of a currency’s future prospects by looking at its history: Where did it come from? Who supports it? What does it stand for? Does it even have a community at all? All those questions matter.
When we ask ourselves why someone should care about a particular coin, especially if it has no obvious purpose, these are good questions to ask. If you can’t answer them, maybe you shouldn’t buy into your own coin yet. Why not?
Because people need to believe in something, and without some kind of backing, any kind of investment is too risky. This is doubly true when talking about speculation-and more than doubly true when talking about investing in vaporware.
You might want to buy Ape Coin because you think it will be worth more later on, but before anyone else cares, they’ll need a reason to buy it themselves.
Should I invest in an APE coin?
Apecoin has introduced a series of innovations that solve some of the cryptocurrency’s biggest challenges. Most exciting, however, are long-term plans for its application outside gaming.
The idea is that each aspect of gameplay could have an APE counterpart. For example, achievements could be rewarded with something called APE props. This would put Ape Coins at the heart of an entirely new economy.
Even if nothing else comes out of it, it will create long-term value for all token holders. That alone makes it worth keeping on your radar.
Final Thought
Although it may seem like all of these crypto coins are being released every other day, only a small fraction have staying power. Many experts predict that Bitcoin will reign supreme among cryptocurrencies for at least another year; however, there are those who believe that one of these new kids on the block will supplant it.
Keep an eye on their developments over the coming months and years. Who knows – you might even find a whole new world of virtual coins worthy of your investment dollars. Whatever becomes of these new coins, rest assured there’s no shortage of excitement when it comes to crypto-investing.
