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ApeSwap Review – Is ApeSwap Scam or Legit?

ApeSwap Exchange Rating
Account Types9.1
Trading Speed8.8
Customer Service9.4
Safety9.2
9.1
Conclusion
Read our ApeSwap review and learn why we recommend this exchange for online trading and why it is not a scam, learn all you need to know in this ApeSwap review before you sign up with the exchange.

ApeSwap Review 

ApeSwap logo

The world of cryptocurrency is fast rising. To trade these currencies, however, traders need a centralized platform. These platforms are called exchanges, and one of them in the ranks is ApeSwap Exchange. This ApeSwap Exchange review will detail features and uses that favor traders. Ranking #322 on Coingecko, it sure is one of the best out there, with a current market cap of 2.3%, 486 exchanges, 8789 coins and counting. 

One BANANA (BNB) is sold at a market rate of 2.29%: that is a 7.2% rising within the hour.

ApeSwap Exchange’s total value locked is $303,252,165. This is the capital deposited into the platform in the loan collateral or liquidity trading pool. ApeSwap Exchange trades in yield farming and pool staking. Both use crypto wallets, especially MetaMask, for withdrawals and deposits, as well as other popular wallets.

ApeSwap Exchange governance revolves around long-term community members, that is, those holding $GNANA. This is a token that will dictate an ability to vote because each $GNANA is counted as one vote for any proposal. The $GNANA has its perks: passive farming, exclusive perks, and governance. 

ApeSwap Exchange announced its plans for Non-Fungible Apes based on its utilities and auction. There were rounds of Partner projects, NFA Auctions as utility, and continued partner airdrops. ApeSwap Exchange partnered with Mobox for premium access to the “Token Master” game using NFAs. You can equally hold one or more NFAs in your wallet. During the auctioning of 46 NFA’s one at a time for at least 12 hours each, when one auction ends, the next one begins immediately. There will also be continuous improvements as it goes on.

ApeSwap website

On airdrops, $105,000 were distributed; meaning seven airdrops were distributed. And with Mogul Productions, ApeSwap Exchange already has a $10,000 airdrop planned. Your NFA can be exhibited across ApeSwap Exchange’s suite of products ranging from Automated Market Maker, Yield farming, and Stake pooling across the board. 

Exchange PlatformApeSwap Exchange
Websitehttps://apeswap.finance/
Variety CryptoMetaMask, Trustwallet, MathWallet, TokenPocket, WalletConnect, Binance chain wallet, ONTO Wallet, Safety Wallet
Account NeededYes
VerificationMandatory
Verification Levels2
Trading PlatformWeb based and App based
Payment MethodHarvest, BNB
Customer supportTelegram, Twitter, Medium, ApeSwap Exchange  Finance, GitHub, 
  

What is ApeSwap Exchange?

ApeSwap Exchange is a trading platform that uses Decentralized exchange (DEX). They are focused on Binance innovative chain and polygon services using yield farming and pool staking to earn the native currency. 

ApeSwap Exchange’s native currency is $BANANA. According to ApeSwap Exchange, BANANA’s make the world go round. Apes can use their earned BANANA to stake, earn tokens and unlock exclusive features. 

Some of ApeSwap Exchange’s features include:

  • Trade
  • Earn
  • Win 
  • Invest
  • Collect

You can trade tokens instantly using different currencies by swapping. You can add Liquidity to receive LP tokens; you can equally bridge – this is fast and most secure using Metamask and other crypto wallets.

This summer 2021, ApeSwap Exchange introduced a HiFi Defi initial ape offering. This is a decentralized gaming system that observes the old-fashioned way. Its architecture creates an energetic ambiance in the Defi gaming system. It had two offerings; a Primary offering and a secondary offering. The primary offering was IAO tokens bought with $BNB while the secondary offering was purchased with $GNANA. 

With many of ApeSwap Exchange’s business partnerships and services, you can apply to run a pool by stating in a form why you are interested in applying, your project name, ticker symbol, your website, a description of your project, what stage you’re at, if your token is in circulation, if have you been audited, what budget you are willing to provide for a pool, how much you are willing to raise if IFO, how to contact you, and anything else to know.

ApeSwap Exchange is in partnership with Seascape Network. The web is a gaming platform with the power of Defi. ApeSwap Exchange also has a bug bounty program where cash rewards in $BANANA or $BUSD are paid to anyone with proof of a bug on the website or app.  

It even gets better because this August, ApeSwap Exchange has many things in stock for its family to keep building the jungle together. Some of its August pledges are Auto compounding burning vaults, updated homepage, five new governance proposals, 15 new trading pairs, a monke surprise, Reddit AMA’s, burns day, monke Mondays, and NFA weekly draws. This is the hot Defi Summer. 

In July, they announced a couple of things such as; NFA Utility announcement, NFA auction house, Twitter verification, Top 10 winners of Binance MVBII, 25 new trading pairs, four new Ape TV Episodes on Spotify and Anchor, $885m+ in trading volume, 8 AMA’s, 650+ #monkemondays submissions, 4.3m+ BANANA Burned, 5 NFA Weekly draws, Brashares IAO 006 and delayed volume mining

ApeSwap Exchange also accepted fresh intakes in its BUIDL program. The lucky ones were; Moonbrew, Barbershop Finance, Main Street, Cookie Finance, Vox finance, Take Defi, Neural Pepe, Crow Finance, Twinci, Tap Swap, Purple Monster, Barbeque Swap, Collar. Then, those who graduated were Cryptoblades, Defy Farm, and Koala Defi. 

Behind its business model, ApeSwap Exchange has a college fund for the  brilliant ones, in its community, who can’t afford college. This college fund has continued; the second edition was an Indian prevalent in the Telegram community. This is one of the good acts of ApeSwap Exchange. 

ApeSwap Exchange also has the BANANA Lottery. Here, you spend the $BANANA to get into the Lottery pot. If 2-4 of your tickets match the winning numbers in their exact order, you get to win prizes. 

ApeSwap Exchange is also an Automated market maker; this means they are liquidity pools and liquidity providers, they can trade assets, and there are variations to its marketing. Their decentralized exchanges are pre-funded on-chain for trading pairs in any owned asset as an automated market maker. This will turn into a passive income for those who have pools staked and be gotten from trading fees based on the percentage of the liquidity pool they bring in.

ApeSwap Exchange’s DeFi makes lending, trading, swapping, yield farming, staking, lottery, auction, and all its suites interesting for all crypto traders. Trade of certain crypto assets is made possible without filling in too much paperwork.

ApeSwap Exchange Trading services

ApeSwap Exchange trading services include yield farming, staking pools, NFA Auction, Ape offerings and Polygon cross-chain. Yield farming is staking LP Tokens to earn BANANA. Staking pools are where great projects are introduced to the ApeSwap Exchange community. ApeSwap Exchange pools allow Binance Smart Chain to start BANANA token holders with a token to enter the community.

BANANA is the native currency of ApeSwap Exchange. ApeSwap Exchange has made an intersection between staking and farming. When you stake with BANANA’s, farming provides Liquidity.

Ontology (ONTO Wallet) and ApeSwap Exchange collaborated for a liquidity mining round 2. You have to download ONTO Wallet, Stake W-Matic Banana, and earn Banana and ONG to participate. The round 2 awarded the first 400 people 2 BANANA and 3 ONG. 

ApeSwap Exchange has a lottery too. The lottery is drawn every 24 hours. There are zero limits to buying; the tokens are burned automatically after every lottery cycle. The matching numbers must match. If you encounter issues like your numbers checking, but you aren’t called out, you should contact customer support.

If after every draw, there is no winner, the prize automatically gets drawn for the next batch of the lottery. To participate, you must be on the lottery page, where there are instructions on how to go ahead. This is seen on ApeSwap Exchange’s website. There you will also see past draws and subsequent draws. You can also buy as many tickets as you want for any round. 

ApeSwap Exchange Fees

ApeSwap Exchange takes 0.20% of each swap as a transaction fee. This is on Binance smart chain and polygon. ApeSwap Exchange says there are areas where the money goes: they can be used for operations where they buy back and burn or they can use it to fund the treasury, depending on the blockchain you are using. All these are called the DEX treasury fees. 

Out of the 0.20%, one quarter (¼) goes to ApeSwap Exchange treasury, and the remaining goes to LP holders. On polygon, out of the 0.20%, ¾ of it goes to ApeSwap Exchange Treasury while the remaining goes to LP holders. Some of the critical wallets in ApeSwap Exchange are: Admin wallet, Dev wallet, Treasury wallet, and Pool wallet. One BANANA goes for 638.08 = 1BNB

ApeSwap Exchange Withdrawal and Deposit Fees

ApeSwap Exchange charges 0.02% on trading fees. This is done when you stake some pools or trade on yield farming. Withdrawal is called harvest in ApeSwap Exchange, and you need to have created an account or logged in to partake.

ApeSwap Exchange runs on the Web and App, so working through the platform is not a problem. With ApeSwap Exchange, you can withdraw and deposit with any cryptocurrency of your choice as long as it is linked to your account. Metamask is the primary wallet. 

ApeSwap Exchange API 

The ApeSwap Exchange bug bounty program puts some money in the program when they find a bug. If a bug is found, you can go here and report it asap. You also stand a chance to win a sum depending on the website category you find the bug. Here are the two types; Smart contracts and blockchain, Websites and Apps. For smart contracts, reports must be seen, and for Websites, it must be directing a user to another site. All payouts are handled by the ApeSwap Exchange team and paid out in BANANA or BUSD at the discretion of the ApeSwap Exchange team. ApeSwap Exchange’s API’s set of functions and procedures and tools for building procedures are top-notch.

ApeSwap Exchange Limits and Liquidity

There are no limits to the stakes or pools you can get involved in. ApeSwap Exchange also accepts payments using the polygon and Binance smart chain payment portals. They ensure that if you want to trade on ApeSwap Exchange, it is converted to BANANA for yield farms and staking pools. ApeSwap Exchange has insurance and NFT tokens on their website and App-based platforms.

ApeSwap Exchange has LP’s which they refer to as Liquidity pools. These pools allow you to add your token. When you do so, you will receive APE-LP tokens. By removing your Liquidity, you can redeem your tickets. BANANA BNB Liquidity pools represent the number of APE-LP tokens you have.

ApeSwap Exchange has a term called “Impermanent loss.” Impermanent loss occurs when you provide Liquidity to a liquidity pool and the price of what you deposited changes compared to when you first deposited them. Trading fees can check impermanent loss. Because some amount goes to liquidity pools, losses can be limited when you make stakes with BANANA or BUSD. ApeSwap Exchange makes sure that liquidity pools are gotten from trading fees and used to earn. 

ApeSwap Exchange Portfolios

On Polygon, ApeSwap Exchange has some contractors to its name. There are DEX Contractors, Farm contracts, Deprecated contracts, Binance bright chain. ApeSwap Exchange introduces a fast-track partnership program called BUIDL for new and upcoming partners. These projects are on Binance Smart Chain. They offer rewards to any project that meets some criteria on the fast-track partnership program and any project that adds Liquidity to ApeSwap Exchange.

ApeSwap Exchange has a list of projects to its name while immigrating to the best decentralizing experience. The projects are PolyCrystal Finance, BarberShop Finance, Tako Defi, ApeRocket, Astronaut, ApeTools, JDIYield, NFTKEY, Neural Pepe, and Unisex. ApeSwap Exchange also partners with Mogul Productions. 

Cryptocurrencies Available on ApeSwap Exchange 

ApeSwap Exchange uses MetaMask with Binance smart chain. This is set up together. They also have a list of crypto wallets, including:

  • TrustWallet
  • MathWallet
  • TokenPocket
  • WalletConnect
  • Binance Chain Wallet
  • ONTO Wallet
  • Safe Wallet
  • Metamask

These wallets accept payments for deposits and withdrawals. This is the best in decentralizing because most wallets are represented, and it cuts across most cryptocurrencies. 

ApeSwap Exchange Interface

ApeSwap Exchange interface is smooth and it surpasses all user experience expectations. The accessibility features and interface is one that all persons can get used to at a snap. One of its aims is ensuring that you have a good experience working with them, staking on their site, and contributing to yield farm adventures.

ApeSwap Exchange stays updated to user interface trends and makes sure that its user’s experience is prioritized. Most of the colors and graphics are used to suit the visually impaired.

How secure is ApeSwap Exchange?

As part of their security measures, ApeSwap Exchange conducts Audits like: Polygon audits, Application security reports, Certik Audit, BSC Gemz, and DeFiYield Audit. These were done recently (June 2021) to ensure that ApeSwap Exchange is a secure and reliable platform for all apes. 

Customer support

Customer support is always behind every robust system. Solving any need almost immediately is what ApeSwap Exchange does with its community on Telegram. Here, all team members are on ground providing solutions, and International Telegram groups are seen in different languages: English, German, Spanish, Italian, Portuguese, French, Turkish, India, Indonesian, Mandarin, Dutch, Japanese, Romanian, Korean, Russian, Vietnamese, Africa, Thai, Arabic, and Persian.

They also will set up a Telegram account for you in your language if it’s mentioned above. There are also customer support groups on the ApeSwap Exchange Finance app, Medium, Twitter, GitHub, Instagram, ApeSwap Exchange Analytics, Reddit, and Discord. 

  • Twitter

Their Twitter page microblogs about tips, information, and strategies to use their site better. The best community of users to turn to for advice and experience using the exchange platform is here.

  • Medium

The Medium Page for ApeSwap Exchange is a blog space to get tips, advice, information, and steps to better use the platform.

  • Telegram

This is the best means to communicate with their customer representatives. They offer a live chat feature with helpful solutions to a trader’s everyday questions. 

Conclusion

With the ApeSwap Exchange Non-Fungible release, NFA games have never been better. There are just a couple of releases for the summer, all up for grabs. ApeSwap Exchange has many products and services geared up for freedom, and it is a market to lookout for. Because it accepts the most significant cryptocurrencies as its wallet, most major players will be attracted.

In the coingecko, it sure is the right place for all staking and yield farming. ApeSwap Exchange still has a shining future in the cryptocurrency world. Its ranking is soaring, and the $BANANA getting burned keeps increasing daily for staking and yield farming. ApeSwap Exchange is on Spotify by Chimpin Chip; they have interviews with builders of decentralized finance, creators, and founders here. 

ApeSwap Exchange Rating
Account Types9.1
Trading Speed8.8
Customer Service9.4
Safety9.2
9.1
Conclusion
Read our ApeSwap review and learn why we recommend this exchange for online trading and why it is not a scam, learn all you need to know in this ApeSwap review before you sign up with the exchange.

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Shelly Melancon (Switzerland)

Shelly is a cryptocurrency enthusiast from Switzerland, she bought her first crypto in 2015 when it was way less popular then it is today and since 2017 she has been writing about cryptocurrency for online news portals. Shelly is the newest addition to the Tokenhell team, she writes mostly news and reviews related articles , stay tuned to her posts to stay up to date with the crypto world.

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