Highlights
What Is ApeX?
ApeX is a decentralized crypto exchange with up to 30x leverage, allowing you to go long or short on about 15 tokens. Traders can visit ApeX.Exchange, connect their crypto wallet, deposit funds into a smart contract, and instantly start trading with no KYC or sign up requirements. It supports Ethereum and other networks like BNB Chain, Polygon, Arbitrum, Avalanche, and Optimism, allowing you fast transactions and minimal gas fees.
The ApeX exchange was created by Bybit, a very popular centralized crypto exchange with 300+ coins and 5+ million users. They launched ApeX in 2022 with the intention to build a fully trustless trading environment.
Key Features & Benefits
What Does ApeX Offer?
Since I first wrote this review, ApeX has been regularly updating the platform and adding more tokens. Right now, you'll find 15 USDC trading pairs, up to 30x leverage, trade-to-earn opportunities, rewards, and low fees. The team is also focused on the social trading aspects and fostering a DeFi community. Let's go through the platform:
1. Derivatives Trading
Users can trade perpetual contracts with up to 15x or 30x leverage depending on the asset. There are 15 trading pairs in total, including BTC, ETH, XRP, ATOM, and DOGE with plans to add more tokens throughout 2023. The trading dashboard is user-friendly and similar to Bybit, offering advanced charting tools, trailing stop-loss and take-profit limit, and more. Traders can access these features anytime, anywhere, with no network fees and low waiting times.
2. Multi-Chain Support
ApeX supports multiple blockchain networks, including Ethereum, Arbitrum, Optimism, Avalanche, Binance Smart Chain, and Polygon. It also offers cross-chain deposits and withdrawals, which means you can deposit using Ethereum and withdraw to Arbitrum, or any other combination.
3. Trade-to-Earn & Rewards
ApeX's Trade-to-Earn (T2E) program rewards users with BANA tokens for every trade they make on the platform along with other perks. ApeX has also offered weekly competitions, retroactive airdrops, trade bounties, and other campaigns to earn more rewards.
4. APEX and BANA Tokens
ApeX is supported by two tokens: APEX and BANA. APEX is the governance token which allows users to have control over protocol parameters and engage in staking. BANA is a rewards token earned through participation and trading activity on ApeX Pro. BANA is created by burning a portion of the APEX supply. Both tokens play important roles in the ApeX ecosystem and offer unique benefits to their holders.
ApeX vs GMX vs Bybit
To get an objective review, we compared ApeX versus popular competitors to see how it stacks up. One of ApeX's main competitors is GMX, as both platforms offer contract trading on Arbitrum.
Header |  |  |  |
|---|---|---|---|
Token | $APEX, $BANA | $GMX, $GLP | N/A |
Blockchains | Ethereum, Binance Chain, Polygon, Arbitrum, Optimism, Avalanche | Arbitrum, Avalanche | N/A |
Leverage Limit | 30x | 50x | 100x |
Trading Fee | 0.02%-0.05% maker/taker | 0.10% | 0.10% spot, 0.01%-0.06% derivatives |
Profit Sharing | No | Yes | No |
Staking | Yes | Yes | Yes |
Trading Pairs | 15 | 6 | 300+ |
Type | DEX | DEX | CEX |
Cell |
ApeX Fees
Fee Type | Amount |
|---|---|
Maker Fee | 0.02% |
Taker Fee | 0.05% |
Crypto Deposits | Free |
Crypto Withdrawals | Free |
Fast Crypto Withdrawals | 0.10% ($5 USDC minimum) |
Security
ApeX is a decentralized exchange that is fully powered by smart contracts. In addition, it was developed by Bybit, a major crypto exchange with a good reputation. As a non-custodial platform, ApeX does not hold users' funds, which means that the safety of user funds is largely dependent on the underlying security of the platform.
ApeX uses Arbitrum Layer 2, ZK rollup technology, and Starkware's smart contract software to ensure the security of user funds. ApeX Pro also offers privacy and anonymity to users, as most Web3 wallets do not collect personally identifying information. To trade on ApeX Pro, users simply need to connect to a Web3 wallet, making trades on the platform as private as any other DEX.
How To Buy $APEX
If you're interested in buying the APEX token, you can do so over on Bybit, a centralized crypto exchange or via Uniswap, a decentralized exchange. ApeX published an official buy page on their website with links to these two platforms. Here is a step-by-step walkthrough:
What Is Crypto Twitter Saying About ApeX?
I headed to crypto Twitter to see what people are saying about ApeX. In a detailed thread, user @CoinSurveyor explained why he switched to ApeX over other Arbitrum DEXs:
ApeX Review
Overall, ApeX traders can go long or short on 15 tokens and enjoy competitive fees, high liquidity, and a great user interface. In addition, you get rewarded every time you make a trade on the platform. On the other hand, one of the main drawbacks to consider are its limited selection of cryptocurrencies. For more tokens, check out Mux Protocol, another fast growing DEX.
Pros & Cons
Try Bybit's Decentralized Exchange (Low Fees + No KYC)
FAQ
Who Owns ApeX?
ApeX exchange is owned by Bybit, one of the largest crypto exchanges. It was launched as a decentralized version of the exchange with similar leverage trading features.
Is ApeX Exchange Available In All Countries?
ApeX exchange is available in all countries except the United States. Citizens or residents of the United States are prohibited from trading on ApeX exchange.
