Can I buy ApeCoin with MetaMask? This guide, explains the 7 simple steps to buy ApeCoin with MetaMask wallet by connecting to Uniswap.
Welcome to our guide on how to buy ApeCoin. ApeCoin is the native cryptocurrency associated with the Bored Ape Yacht Club (BAYC) NFT collection developed by Yuga Labs. It serves as an ERC-20 governance and utility token. Meaning, it allows holders to participate in community governance and access exclusive features within the APE ecosystem.
Consequently, ApeCoin(APE) gained popularity due to its association with the successful and highly sought-after Bored Ape Yacht Club, a famous NFT collection. In particular, ApeCoin adds extra functionality by including payments, NFT rewards, and integration into third-party projects.
In this article, we’ll guide you through the steps to buy ApeCoin on MetaMask, one of the most popular cryptocurrency DeFi wallets.
How To Buy ApeCoin on MetaMask(7 Steps)
In this guide, I’ll assume that you are new to crypto and have never used a crypto wallet like MetaMask before. Therefore, we’ll start at level zero where you have to set up and install this wallet first.
Of course, you can skip some steps in this buying process if you already using this wallet regularly. That being said, let’s kick off from here 👍
Step 1: Download MetaMask Wallet
Download MetaMask Wallet from the App Store or Google Play Store for free. If you prefer a desktop, you can download the MetaMask wallet by going to the MetaMask website.
Besides, don’t forget to verify first if you are visiting the official MetaMask Wallet website. Otherwise, you risk downloading a fake wallet.
Step 2: Setup Your MetaMask Wallet
After downloading MetaMask Wallet, follow the steps to set it up. It’s actually really easy.
- Click ‘Create a new wallet‘
- Create a secure password
- Secure your secret recovery phrase
- Congrats! Your wallet is created
The most important part of setting up any self-custody wallet like MetaMask Wallet is recording your 12-word secret recovery phrase and storing it in a safe place.
Your secret recovery phrase is the key to your wallet and the funds within. Whoever has your recovery phrase has control of your funds. So make sure to keep it secure.
In other words, besides a password, you also need to secure the 12-word recovery phrase. The password gives access to your device, where the recovery phrase will allow you to do transactions on the blockchain.
Therefore it is important to write it down and lock it away in a safe place. Preferably in an at-home safe that is both fire and waterproof.
Never store your wallet’s private key online such as in a cloud or any files on your phone or computer.
If you lose your recovery phrase, there is no way to recover it or your wallet.
|❗ TIP – A good option for securing your recovery phrase is to use a stainless steel crypto wallet that can survive about anything, from fire to acids, and lasts more than 20 years.|
Step 3: Buy ETH Cryptocurrency First
Before you can buy APE on MetaMask Wallet, you need to put some ETH in your wallet which you will swap to $APE later on.
If you don’t have ETH, you can buy it directly on MetaMask Wallet(with a credit card), transfer it from another wallet, or buy it on an exchange and send it to your wallet.
Here are the two options for getting ETH into your MetaMask wallet.
Option 1: Buy ETH on a Centralized Exchange
You can buy ETH using one of many centralized exchanges that offer it. Coinbase is a popular choice.
For this, you will need to set up an account, verify your payment info, and then you’re good to go.
Once you’ve got ETH in your wallet, you’ll need to transfer it to your MetaMask wallet.
Option 2: Buy ETH directly on MetaMask
One way to avoid the next step (transferring ETH to your wallet from an exchange) is to buy it directly through MetaMask Wallet.
To do this, just tap “Buy” in your wallet and MetaMask will send you to a reliable third-party provider where you can buy ETH with a credit card.
Remember that buying ETH with a credit card is expensive. For instance, at Coinbase you can buy ETH at 0.1% in the order books. Using a credit card will cost you 5% extra.
All in all, using MetaMask for purchasing crypto is the fastest way to acquire new crypto with money.
Step 4: Transfer ETH to your MetaMask wallet
To transfer ETH to MetaMask Wallet you have to use your wallet’s public address — a unique identifier on the Ethereum network.
To find your MetaMask wallet’s public address, click on ‘Receive‘ button above in the menu. Once clicked, a huge QR code appears below the public key(Something like this: ‘0x37d0cc00a6fb08ffb68435fec2ef05b05beaceff’)
Then, click the ‘Copy‘ icon below to store the address in memory.
Once you have your wallet’s public address, you can transfer ETH from the centralized exchange by pasting the address into the “Recipient” field.
This will send the ETH directly to your MetaMask wallet.
Step 5: Add ApeCoin to MetaMask
MetaMask is a non-custodial wallet that has a lot of benefits like being in full control of your private keys and funds.
However, contrary to crypto wallets on exchanges like Binance or Coinbase, you have to maintain them more.
For instance, if you want to use the ApeCoin in MetaMask then you have to manually add this token.
How do I connect ApeCoin to Metamask? Follow these simple steps:
- Go to the Coinmarketcap page of ApeCoin(APE)
- Copy the ETH contract address to the clipboard
- Go back and log in to your MetaMask wallet
- Make sure the Assets tab is open and click on Import Tokens below
- Paste the ApeCoin contract address from the clipboard in the search tokens bar
- Select ApeCoin and click Import Tokens
- Finally, ApeCoin(APE) has been added to your MetaMask!
Step 6: Connect MetaMask Wallet to Uniswap
To be able to trade your ETH for APE, you have to go to a decentralized exchange, connect your wallet and make the swap. In this guide, we are going to use Uniswap for this. To connect MetaMask wallet to Uniswap, follow the next steps:
- Navigate to the Uniswap website in the browser
- Click on Connect button on the upper right and choose MetaMask
- Finally, make sure that you are connected to Ethereum blockchain
- That’s it, you are connected to Uniswap
Step 7: Make the Swap on Uniswap
At this point, you are able to trade the initially bought ETH for APE coins. To achieve this you need
to initiate a swap on Uniswap. At default, your ETH will be selected as the token you want to use for buying.
All you have to do now is find APE token, give the amount of ETH, and finalize the swap(below).
Crypto Transactions on Uniswap
Normally, it’s just a matter of seconds before this transaction will be processed. Additionally, the APE coins should appear in MetaMask in your ApeCoin wallet(See step 5).
Take note that if the transaction won’t go(because of high traffic), you have to modify the slippage. The default is this value set to 0,5. Additionally, you can switch to higher levels(for instance 3%) to make transactions go through. Use the Settings option above in the menu.
Finally, if you want to cash out ApeCoin all you need to do is swap it back to your cryptocurrency of choice, the same way you swapped ETH to APE.
The two most popular options are ETH and USDC. From there you can send it to a centralized exchange to cash it out for fiat and transfer it into your bank account.
FAQ – How To Buy ApeCoin with MetaMask Wallet
Is Buying ApeCoin on MetaMask Wallet Safe?
It definitely is. To buy ApeCoin using MetaMask Wallet and Uniswap is a very reliable option, however, it isn’t an easy exercise. Beginners in crypto can also buy ApeCoin on regulated exchanges like Binance or Coinbase.
Is Buying ApeCoin on MetaMask Wallet Worth It?
It’s worth buying APE on MetaMask Wallet if you want to own your crypto. The problem with buying crypto on a centralized exchange is that you don’t actually own it, the exchange does. Using MetaMask wallet enables you to own your wallet’s private key and thus your APE tokens.
Can I Transfer ApeCoin To MetaMask?
Yes, this is possible. As explained above in step 5 of this guide, you manually have to add this token to MetaMask first. After that, you can use the public contract address to receive payments.
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