New Token Alert: You Can Now Deposit, Buy and Convert APE on BitMEX

We’ve just launched ApeCoin (APE) support, meaning there are now more ways to join the virtual yacht party.

In addition to trading our USDT-margined APE contract with up to 33x leverage, users can also deposit and convert APE on BitMEX starting today. 

It’s just the first of many coins to drop in the lead up to BitMEX Spot – so stay tuned.

Here’s what you’ll be able to do the next time you log in to BitMEX:

Deposit APE

Depositing APE into BitMEX is easy. Simply head over to your Wallet, and click the ‘Deposit’ button. Then, scan your ApeCoin wallet QR code to transfer APE into BitMEX from your other wallet(s).

Note: There will be no minimum balance requirements for APE deposits. We didn’t want you to miss out on the hype, so we went live without the withdrawal function first, but this will be available very soon.

Buy APE

You can now buy APE in minutes, on top of Bitcoin and Tether (USDT ERC-20). To buy crypto on BitMEX, simply select from 30 fiat currency options, enter the amount you want to deposit, and then choose the crypto you want to purchase.

Next, choose Banxa and follow the instructions set by the selected fiat gateway partner.

The fiat currencies we currently support are: AED, ARS, AUD, BRL, CAD, CHF, CZK, DKK, EUR, GBP, GHS, HKD, IDR, INR, JPY, KES, MXN, MYR, NGN, NOK, NZD, PHP, PLN, QAR, SAR, SEK, SGD, THB, TRY, TWD, TZS, UAH, UGX, USD, VND, and ZAR.


Convert APE

You can now convert your APE into USDT (ERC-20), or vice versa, on BitMEX. By using our Crypto Converter, you’ll be able to convert crypto without hidden fees or the need to worry about slippage.

If you’re trading USDT-margined contracts on BitMEX, CONVERT allows you to quickly and easily convert ApeCoin, Bitcoin, and Ether into Tether – so you can focus all your attention on trading. 

About Our APEUSDT Perpetual Contract

Last week, we announced the launch of APEUSDT – a USDT-margined APE perpetual contract with up to 33x leverage. Check out the contract specs below:

  • Contract size: 0.001 APE (Currently *** USDT) (USDT Multiplier is 1,000)
  • Contract type: This is a perpetual contract, meaning it does not settle. Note: This contract is subject to early settlement.
  • Launch date and time: 22 March at 04:00 UTC
  • Lot size: 1,000
  • Initial margin: 3.00% + Entry Taker Fee + Exit Taker Fee
  • Maximum leverage: 33x
  • Maximum order quantity: 1,000,000,000
  • Maintenance margin: 1.50% + Exit Taker Fee
  • Minimum trade amount: 1 APE
  • Settlement: Settled and quoted in USDT (ERC-20)

What is ApeCoin?

ApeCoin is an ERC-20 governance and utility token for culture, commerce, and gaming. 

The APE NFT token is owned and operated by ApeCoin DAO, a decentralised organisation where each token holder gets to vote on governance and the use of the ecosystem fund. Yuga Labs, the creators of the Bored Ape Yacht Club, will adopt APE as its primary token across all new projects.

The APE NFT token was launched to “empower a decentralised community at the forefront of web 3.0.” Unlike NFTs, APE is fungible – as with other cryptocurrencies, any one ApeCoin is worth exactly as much as any other ApeCoin.

APE Token Allocation

ApeCoin’s total supply is permanently fixed at one billion APE. The APE token will be distributed among four main groups, as detailed below:

  • 62% will be allocated to the ecosystem fund, which includes BAYC and Mutant Ape Yacht Club (MAYC) NFT holders and treasury/resources.
  • 16% will be allocated to Yuga Labs and the Jane Goodall Legacy Foundation.
  • 14% will be allocated to the people and companies that helped make this project a reality.
  • 8% will be allocated to the four founders of Yuga Labs and BAYC.

Further Reading

APE in with Us

Start trading APEUSDT, converting, or depositing APE today, or sign up for a BitMEX account here.

If you have any questions in the meantime, please contact Support.

The post New Token Alert: You Can Now Deposit, Buy and Convert APE on BitMEX appeared first on BitMEX Blog.

Tags: