ApeCoin The Fundamental Cryptocurrency of the Yuga Labs Network

ApeCoin (APE), the primary token of the Yuga Labs ecosystem, is an ERC-20 token created on the Ethereum Blockchain. It serves as the governance token for ApeDAO and is widely accepted by luxury brands in the real world. ApeCoin DAO is a community-led organization within the Yuga Labs and Ape ecosystem that supports developers and contributes to the growth of the ecosystem. In this article, we will provide answers to two commonly asked questions: What is Apecoin (APE) and how can you buy Apecoin (APE) with Turkish Lira (TRY)?
Table of Contents
What is Apecoin (APE)?
How to Buy Apecoin (APE) with TRY?
How to Open an Account on Binance TR?
How to Verify an Account on Binance TR?
How to Deposit TL on Binance TR?
How to Buy APE Coin with TL on Binance TR?
What is Binance TR?
What is Apecoin (APE)?
Apecoin (APE) is an ERC-20 token built on the Ethereum Blockchain and originated from the vibrant NFT universe. It was created by ApeCoin DAO, a decentralized autonomous organization, and serves as the core token of the Yuga Labs ecosystem. APE tokens were distributed through an AirDrop in March 2022 to Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and Bored Ape Kennel Club (BAKC) NFT holders, making APE the governance token for the entire Ape ecosystem. For the latest financial and business news, visit COINTURK FINANCE.
Apecoin (APE) is not just another animal-themed memecoin, but it has significant uses. One of its main functions is governance, as APE holders have the power to vote on system improvements and the direction of the ApeDAO. Additionally, APE is used as a currency within the expanding Yuga Labs economy and the metaverse. It is the preferred currency in Otherside, the metaverse of the Ape ecosystem, where users can engage in virtual land transactions and in-game activities.
Moreover, Apecoin (APE) has real-world applications and is accepted by luxury brands like Gucci and Tag Heuer, showcasing its integration into mainstream retail. In the Web3 space, APE is utilized in various decentralized applications (dApps) and play-to-earn games such as Animoca Brands’ Benji Bananas. Owning APE also grants access to exclusive events, AirDrops, and community benefits.
Yuga Labs, founded in early 2021, gained popularity with the success of Ethereum-based Bored Ape Yacht Club NFTs, which consist of 10,000 unique, hand-drawn apes. These NFTs quickly became status symbols, with their prices soaring and receiving celebrity endorsements. Yuga Labs expanded its NFT empire with Mutant Ape Yacht Club and Bored Ape Kennel Club and solidified its dominance in the NFT market by acquiring the CryptoPunks collection from Larva Labs.
In addition to NFTs, Yuga Labs ventured into virtual real estate with the introduction of Otherside, a digital playground for Ape ecosystem members. APE serves as the primary currency in Otherside, aiming to host future ApeCoin DAO events and experiences, creating a cohesive digital economy.
ApeCoin DAO is a community-led organization comprising supporters of Yuga Labs and the Ape ecosystem. It functions as a separate entity dedicated to the growth of the Bored Ape NFT world. The DAO manages its treasury and ecosystem fund, providing support to developers in creating useful products and services for ApeCoin. APE token holders and DAO members participate in critical decision-making through a structured proposal process that shapes the future of the token.
At the core of ApeCoin DAO is the Ape Foundation, responsible for overseeing and executing the decisions of the DAO. The foundation handles governance, bookkeeping, and project management. A selected council of prominent figures in the crypto world, including Reddit Co-Founder Alexis Ohanian and Animoca Brands CEO Yat Siu, guides ApeDAO to ensure the realization of the Ape ecosystem’s vision.
How to Buy Apecoin (APE) with TRY?
For investors in Turkey looking to buy Apecoin (APE), the most suitable cryptocurrency exchange is Binance TR. Binance TR offers more than 100 cryptocurrencies, including APE, and allows for quick account creation. To buy Apecoin (APE) with TRY on Binance TR, follow these steps.
How to Open an Account on Binance TR?
Opening an account on Binance TR is a simple process. Visit trbinance.com and proceed to the “Create Account” step. In the first step, you will be required to enter basic information such as your email address, phone number, name, date of birth, nationality, and identity number.
After entering all the requested information accurately, you will need to complete an email/sms verification to confirm the information provided. Once this process is complete, you can proceed to the second step, which is identity verification (KYC).
How to Verify an Account on Binance TR?
Identity verification on Binance TR is a necessary security measure that must be completed before engaging in cryptocurrency trading or during the account creation process. You can perform the verification process on your phone or through the official Binance TR website. Note that you will need your mobile phone to verify your identity on the website.
On the Binance TR website, hover over the “Profile” option at the top right, click on “Identity Verification and Limits” from the drop-down menu, and then click on “Verify.” You will be required to scan the QR code that appears using your phone’s camera and continue the process on your phone. If you are unable to scan the QR code, you can click on “Copy URL” to receive the identity verification address via SMS on your phone.
When you enter the address on your phone or scan the QR code, a screen will open where you can tap on the “Identity” option to continue the verification process.
On the next screen, select the document type that is suitable for you to proceed with the verification process.
After selecting the document type, tap on the “Upload Front” option to continue. Take a photo of the front side of the document according to the document type you selected, then tap on the “Upload Back” option and take a photo of the back side of the document. Make sure the images are clear and the information in the photo is easily readable.
Next, tap on the “Selfie” option to continue. Your phone’s front camera will open, and you will need to scan your face. Ensure that your face fills the camera area as much as possible.
Once you have completed all these steps correctly and thoroughly, your identity verification will be processed in a short amount of time.
How to Deposit TL on Binance TR?
You can easily deposit TL into your Binance TR account from any bank. You can deposit TL 24/7 and make uninterrupted transactions from various banks, including Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans. Deposits over 50,000 TL from other banks are processed during EFT hours. To deposit money into your Binance TR account, go to trbinance.com, hover over the “Wallet” option at the top left of the homepage, and click on “Deposit” from the drop-down menu.
On the deposit page, select your preferred bank to continue the deposit process. If your preferred bank is not integrated with Binance TR, you can choose the “Other Banks” option.
In this example, we will use Vakıfbank, but the process is the same for all other banks. When you click on the Vakıfbank option, you will see an account name and IBAN address where you can make a transfer, EFT, or FAST transfer to Binance TR. Use the information displayed on the bank’s page to transfer the desired amount to your Binance TR account via transfer, EFT, or FAST transfer.
Once your bank completes the transfer process, the funds will automatically reflect in your Binance TR account wallet.
How to Buy APE Coin with TL on Binance TR?
After completing the deposit process, you can proceed to buy APE coins with TL by clicking on the “Buy-Sell” option in the top left menu on the Binance TR website.
On the buy-sell page, type “APE” in the search section on the right side of the page. Then, click on the APE/TRY option from the search results to go to the TL to APE purchase page.
On the APE trading page, enter the price at which you want to buy APE in the first box and the number of APE coins you want to buy in the second box. After entering the desired amount, click the “Buy APE” button to complete your purchase.
What is Binance TR?
Binance TR is the Turkish version of Binance, the world’s largest cryptocurrency exchange by trading volume. It was officially launched in 2020 to cater to cryptocurrency investors in Turkey. Binance TR is headquartered in Istanbul and can be accessed at trbinance.com.
Binance TR utilizes Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure to offer both fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can seamlessly deposit and withdraw Turkish Lira (TRY) directly through bank channels via Binance TR and trade various cryptocurrencies with TRY trading pairs.
Through Binance TR, users can access market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls provided by Binance’s core functions.
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Disclaimer:
The information provided in this article should not be considered investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry risks. It is recommended to conduct thorough research before making any investment decisions.