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How to buy ApeSwap (BANANA) in Canada

Learn how to buy ApeSwap (BANANA) in our step-by-step guide.

Where to buy ApeSwap in Canada

It looks like BANANA may not be available to purchase on an exchange in Canada.

You can still purchase BANANA by using a decentralised exchange (DEX) instead. decentralised exchanges are web applications that run on blockchains like Binance Smart Chain (BSC) and allow users to trade any asset directly with one another.

Decentralised exchanges (DEX) are unregulated and run using autonomous pieces of code known as smart contracts. To use a DEX you must interact with the blockchain directly, which is not recommended for novice users. Please learn about decentralised exchanges first if you're unfamiliar.

How to purchase BANANA using a decentralised exchange.
  1. Find BANANA on a decentralised exchange and make sure ApeSwap can be traded for BNB which is the native asset of Binance. The most popular DEX on Binance Smart Chain is PancakeSwap.
  2. Buy BNB to trade for BANANA using an exchange like Crypto.com. You will need to purchase enough BNB to swap for BANANA as well as BNB to pay for transaction fees (known as gas) on the BSC network, which usually costs less than a dollar.
  3. Transfer the BNB into a a web 3.0 wallet like MetaMask to connect to the DEX.
  4. Trade BNB for BANANA on PancakeSwap, following the instructions on screen. Make sure to leave enough BNB in your wallet to pay for gas.
  5. Wait for the transaction to finalise and the BANANA tokens will arrive in your wallet.
  6. You may now keep the tokens in your web 3.0 wallet or transfer them somewhere more secure like a hardware wallet.

You can follow the same process when you want to sell your tokens, or come back to this page to see if they can now be traded on an exchange in Canada.

Best ApeSwap wallets to store your BANANA

You can keep your BANANA on the exchange you purchased it on, or move it to a personal wallet:

  • Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
  • Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your BANANA below.

Ledger Nano X Wallet

Trezor Model T Wallet

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Supported assets

5,500+

Supported assets

1,317+

Price (USD)

$149

Price (USD)

$186

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Is ApeSwap a good investment?

Cryptocurrencies are highly speculative assets that come with a range of risks. Those that are considering BANANA as an investment should consider the following factors:

  • Competitive market: Although the team at ApeSwap has created a unique user interface, along with an innovative theme, the DeFi space is saturated with decentralised exchanges and lending protocols. DEXs such as Uniswap and SushiSwap and lending protocols, such as Aave and Compound, have large user bases and a first-mover advantage which ApeSwap Finance needs to compete with.
  • Unknown development team: Although it is common within the cryptocurrency industry for developers and users to use pseudonyms and not show their identities, the team behind ApeSwap is completely unknown. An unknown development team can sometimes be considered a red flag for those considering investment. Although having a clear image of the team does not remove the risk of rug pulls or malicious code, it does often help garner credibility for a project.
  • Inflationary token supply: BANANA does not have a fixed maximum supply of tokens. New BANANA tokens can be added to the circulating supply at any time. It is important to remember that an increasing circulating supply often places downward pressure on price. However, the ApeSwap Finance application has tried to include deflationary burning mechanics to offset this ongoing inflation.
  • Deflationary burn mechanism: According to ApeSwap’s documentation it is the intention of the application to eventually make BANANA a deflationary token. Until that happens, the application has in place a series of burn mechanisms to reduce the circulating supply and keep inflation at bay. These include: a quarterly DEX buyback and burn that uses 50% of all transaction fees to burn BANANA on a quarterly basis, and a weekly manual burn that burns 0.3 of every 11 BANANA emitted per block.

Today's ApeSwap price versus ATH

Compare today's price of ApeSwap ($0.02546102 USD) against its all-time-high price of $11.53 USD on 02 May 2021. The closer the bar is to 100%, the closer BANANA is to reaching its ATH again.

ApeSwap's price: $0.02546102
ATH date: May 02, 2021
0.22%

ApeSwap ATH: $11.53


How to trade, convert or sell ApeSwap

You can convert or sell your BANANA with the same exchange you bought it through:
  1. Sign in to the exchange you have BANANA on.
  2. If you store your ApeSwap in a digital wallet, compare crypto exchanges to convert or sell it on.
  3. Choose Sell or Convert and place a sell order.
  4. Choose the amount of BANANA you'd like to convert or sell.
  5. Confirm the sell price and fees and close your sale of ApeSwap.
  6. Complete your transaction and move your BANANA to a wallet for storage.
  1. Data by CoinGecko

Disclaimer: Cryptocurrencies, including ApeSwap, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of BANANA is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the ApeSwap or any other cryptocurrency discussed.

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