How To Short ApeCoin (APE)

    • James Page

James HeadshotAuthor: James Page - Last Updated on June 28, 2022

Summary: Shorting ApeCoin is pretty straightforward, all you need is a cryptocurrency exchange that allows for short selling. While there are a few exchanges out there that have added the ability to short crypto, our recommendation is to use eToro. They’re well-known, have a global presence, and are trusted by millions of users from 100+ countries.

We’ll be using eToro in our guide, you can sign up with one of the sign-up buttons below.

Global: Sign up with eToro

USA: Sign up with eToro US

ApeCoin

Before we get started, let’s quickly explain what shorting is (for those that are new to it). Shorting is the practice of selling a cryptocurrency hoping it will drop in price so you can buy it back later for cheaper… which, if successful, will give you a net profit.

It might sound a bit complex but don’t worry, it’s a lot easier than you might think.

How to Short ApeCoin

Shorting ApeCoin can be done in 4 steps:

  1. Find a crypto broker
  2. Sign up with the exchange
  3. Fund your account with fiat or crypto
  4. Short ApeCoin

1. Find a crypto trading platform

As mentioned before, for this guide we’ll be using eToro as they offer the ability to short the most common cryptocurrencies.

You can, of course, use any other cryptocurrency trading platform that allows for short selling.

etoro crypto

2. Sign up with the cryptocurrency exchange

Let’s start with creating an account on eToro.

Global: Sign up with eToro

USA: Sign up with eToro US

 

eToro sign up form

The sign-up process is very quick, as is the verification that needs to be completed afterwards so you can get started.

3. Funding your account

Next is funding your account. You have several deposit methods to choose from when depositing funds into your eToro Account. These include a bank transfer, credit card, debit card, PayPal, and more.

4. Short ApeCoin

These are the steps to follow to execute a short sell:

  1. Go to the search bar at the top, find ApeCoin by entering the name.
  2. On the crypto page/section, on the right side, hit the TRADE button to enter the trading interface.
  3. At the top of the trading interface: Click on sell to short the crypto.
  4. Enter the amount for which you want to sell ApeCoin and click on “Open Trade”.

Once you’re ready to close the trade, hopefully when the value of ApeCoin has dropped, go to your Portfolio, find the ApeCoin trade, and click on the red cross to close the trade.

If your assumption/prediction was right, then the profit will be added to your account after closing the trade. If you were wrong on the other hand, you’ll incur a loss which will be debited from your eToro account.

Congratulations, now you know how to short ApeCoin!

Global: Sign up with eToro

USA: Sign up with eToro US

 

Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.

Affiliate Disclosure: This site is supported by its users. We may receive commissions for purchases made through the links on our site. This does not impact our reviews, guides or comparisons.

 

Where to Short ApeCoin (APE)

Aside from eToro, the other major exchange you can use is Binance.

While Binance tends to be a bit more advanced when compared with eToro, they do have a lot more digital assets to trade with.

 

Frequently Asked Questions

Can I short ApeCoin on Binance?

Yes, you can short ApeCoin on Binance. They have over 300 cryptocurrencies on offer, have a decent phone app and a lot of advanced trading features.

About ApeCoin

Through web3, culture has been given new expression through art and gaming as well as entertainment and events. Blockchain's impact upon culture is so many that it can't all be predicted. APE token supports the community's future, and can be managed and improved upon by it. It will function as a decentralized protocol layer to support community-led initiatives and drive culture forward into metaverse. Yuga Labs (web3 company) is most well-known for creating the Bored Ape Yacht Club. It will be an ApeCoin DAO member and will adopt APE in all new projects.

ApeCoin's stewardship is done by the APE Foundation. The APE Foundation is not an overseer. However, it serves as the foundation upon which ApeCoin owners in the ApeCoin ADAO can build.

The Foundation encourages community-led governance. It is responsible with the administration of ApeCoin DAO decisions, as well as bookkeeping, project management, day-today administration, and other duties that make sure the DAO community has the support it needs to succeed.

The APE Foundation aims to foster the fair and inclusive development and growth of the APE eco-system. It uses the Ecosystem fund, which can be controlled using a multisig wallet to pay its expenses. Additionally, it provides infrastructure to allow ApeCoin holders the opportunity to collaborate through open governance processes.

ApeCoin DAO exists as decentralized governance is essential for building and managing a globally dispersed network, and thus critical to the success the APE ecosystem.

ApeCoin DAO Members can use the APE Improvement Proposal process (see Governance) to make decisions on Ecosystem Fund allocations. Governance Rules, projects, partnerships, and other matters. ApeCoin DAO membership open to all ApeCoin holder.

ApeCoin can be used as a utility token and governance token within the APE eco-system to enable a decentralized community building at he forefront of web3.

ApeCoin functions as an open-source protocol layer for the ecosystem.

Governance – ApeCoin is an ecosystem governance token that allows ApeCoin Holders to participate at ApeCoin DAO.

Unification of Spend- ApeCoin (the ecosystem's utility token) gives all its participants an open, shared currency that can easily be used without any intermediaries.

Access – ApeCoin grants you access to some parts of our ecosystem that may not be available otherwise, including exclusive games, merch or events and services.

ApeCoin - Third-party developers have the opportunity to be incentivised by ApeCoin. They can use APE to integrate into games, services and other projects.

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