Overview
Bottom Line
Overall, ApeX users will enjoy low fees, a great user interface, powerful trading features, and trade-to-earn incentives. On the downside, it only has 14 trading pairs and it's not available in the US, so not all traders will find it useful.
Pros & Cons
What Is ApeX?
ApeX is a powerful decentralized exchange built for leverage traders. It offers up to 30x leverage, non-custodial trading, multiple trading pairs, and cross-chain L2 support. Investors can visit ApeX.Exchange, connect their crypto wallet, and start trading with up to 30x leverage with no KYC or sign up requirements.
Interestingly, the protocol was created by Bybit, a popular centralized crypto exchange with 300+ coins and 4+ million users. They launched ApeX in 2022 with the intention to build a fully trustless trading environment.
Why Is It Getting Popular?
The ApeX protocol seems to be gaining popularity for several reasons:
What Does ApeX Offer?
Right now, you'll find 14 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 break down the key features:
1. Derivatives Trading
Users can trade perpetual contracts with up to 30x leverage on certain pairs. There are 14 trading pairs in total, including BTC, ETH, XRP, ATOM, and DOGE with plans to add many more tokens in 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, Binance Smart Chain, and Polygon. It also offers cross-chain deposits and withdrawals, allowing users to easily move their cryptocurrency between networks and wallets. This feature makes ApeX a convenient and versatile option for trading and managing multiple types of crypto.
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 and other holders-only 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 | 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 | 14 | 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 and 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.
What Is Crypto Twitter Saying About ApeX?
We headed to Twitter to see what users are saying. In a detailed thread, user @CoinSurveyor explained why he switched to ApeX over other Arbitrum DEXs:
How To Buy $APEX
The APEX token can be bought on Bybit, a centralized crypto exchange and Uniswap, a decentralized exchange. They published an official buy page on their website with links to these two platforms. Here is a step-by-step walkthrough:
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.