ApeX Review
- Ease of deposits and withdrawls
- KYC/AML procedures
- The buying and selling process
- Overall ease of use
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
- Built By Bybit: ApeX instantly gets some trust and credibility because it was built by Bybit, a very well-known crypto exchange for professional traders.
- Low Fees Good Trading Interface: ApeX offers lower fees than most centralized exchanges and competitors like GMX. The maker/taker fee is only 0.02%/0.05%. In addition, it has a professional and user-friendly trading experience making it an attractive platform.
- Cross-Chain Support: ApeX supports Ethereum Mainnet as well as other Layer-2 networks such as Abitrum and Polygon, allowing for speedy transactions and minimal gas fees.
- Rewards and Incentives: ApeX users automatically get rewarded when using the platform through Trade-to-Earn opportunities, BANA airdrops, plus other rewards.
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.
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.
The ApeX Pro Advantage over CEXs and DEXs
As a decentralized trading network, the platform embraces the power of transparency, verifies trades, and tracks transactions via blockchain technology.
Also, it delivers a space where users can take control of their finances retain full control over assets throughout the trading process without identity verification needed. Trade without barriers, freely without any gatekeepers, from anywhere in the world.
When compared with other DEXs, ApeX Pro with its familiar order book interface can give users a seamless transition to decentralized trading.
Not only that, in addition to ApeX Staking and Trade to Earn programs, users can maximize returns and enjoy the benefits of cost-effective trading on ApeX Pro with 0.02% for makers and 0.05% for takers. The platform also can ensure high transaction speeds, allowing for up to 10 trades and 1,000 order placements/cancellations per second.
Through the integration of zk-proofs and Validium, your trades are shielded from prying eyes while ensuring the highest level of security.
Conclusion
ApeX Pro is the Web 3.0 platform that is creating a free and open ecosystem where users can grow their wealth in a safe and trusted environment by providing users with the means to manage, protect, and leverage their wealth transparently and fairly.
