In the world of cryptocurrency trading, decentralized exchanges (DEX) have gained significant popularity due to their permissionless, non-custodial, and non-KYC nature. One such DEX that is making waves in the industry is ApeX Pro Exchange. This platform delivers cross-margined perpetual contracts with multi-chain support, offering traders up to 30x leverage and instant settlement. In this article, we will delve into the features and benefits of ApeX Pro Exchange, exploring how it stands out in the realm of decentralized exchanges. However, If you’re a beginner then DEXs might not be a suitable option for you since the user interface and connecting wallets and depositing funds is slightly complicated as compared to Centralized Exchanges (CEXs) such as Binance, Kucoin, Kraken etc.
What Is ApeX?
ApeX is a crypto exchange that operates in a decentralized manner and offers leverage of up to 30x. It enables users to take both long and short positions on over 15 different tokens. To start trading on ApeX, traders need to visit ApeX.Exchange, connect their cryptocurrency wallet, deposit funds into a smart contract, and begin trading immediately without the need for KYC or sign-up procedures. The exchange supports Ethereum as well as other networks such as BNB Chain, Polygon, Arbitrum, Avalanche, and Optimism, ensuring quick transactions and low gas fees.
Bybit, a highly renowned centralized cryptocurrency exchange that boasts over 300 coins and more than 5 million users, developed the ApeX exchange. Their objective when launching ApeX in 2022 was to establish a trading atmosphere that is entirely free from reliance on centralized platforms and thus provides privacy.
Unlock Additional Benefits via Revenue Sharing Earn Real Yield with ApeX Staking and SLP.
What are the Advantages of using Decentralized Exchanges (DEX) like ApeX Pro vs Centralized Exchanges (CEX)?
DEX benefits:
- Permissionless, non-custodial, and non-KYC decentralized exchanges (DEX) provide a unique alternative to centralized exchanges (CEX). Unlike CEX, DEX offers transparent and secure transactions that are resistant to censorship.
- DEX traders have the freedom to trade without permission and custody. They can directly engage in blockchain trading using their personal wallets, without the need to deposit funds onto the exchange. This ensures enhanced security and eliminates the risk of hacking and financial loss.
- Privacy: The DEX enables traders to maintain their anonymity and privacy by not requiring KYC or personal information. Users have the freedom to trade without revealing their identity.
CEX Benefits:
- Liquidity is an important aspect to consider when comparing centralized exchanges (CEX) and decentralized exchanges (DEX). CEX typically outperforms DEX in terms of liquidity as traders have the ability to buy and sell assets instantly. This is because CEXs usually have a wider client base, which guarantees a buyer or seller for any asset.
- CEX is a user-friendly platform that is suitable for beginners. It allows traders who are not technically inclined to execute trades efficiently. CEX provides a variety of order types to cater to the needs of different traders.
Overview of ApeX Exchange
| ApeX Pro Exchange | Overview |
|---|---|
| 💰 Fees | Maker: 0.02% / Taker: 0.05% No Fees on Crypto Deposits & Withdrawal To ensure faster withdrawals, a minimum fee of 5 USDC is required, irrespective of the transaction value. The maximum fee for expedited transactions can reach up to 0.1%. |
| Features | – Non-custodial, permissionless, truly decentralized exchange – USDC-denominated, cross-margin, perpetual contracts – Up to 30x leverage – ApeX Native token available on ByBit & Uniswap – High Trading Speed of Up to 50 Trades and 1,000 Orders per Second – Trade-To-Earn Program & Earn Real Yield with ApeX Staking and SLP |
What sets ApeX Pro Exchange apart from other DEXs?
In terms of competition, most of the DEXs are similar to their competitors. However, ApeX Pro Exchange stands out due to its focus on cross-margined perpetual contracts. This feature enables traders to open positions with leverage, amplifying their potential profits. With up to 30x leverage available, ApeX Pro Exchange provides a high-risk, high-reward trading experience for those seeking to maximize their gains.
Pros
- Low Fees: Maker/taker fees are 0.02%/0.05% & no network fees
- Get rewards for every trade you make, as well as the chance to stake your assets, receive airdrops, and enjoy additional benefits.
- Easy to Use: The user interface is designed to resemble Bybit, making it intuitive and familiar for users. Additionally, there are no minimum investment requirements and no need for KYC verification or sign up, ensuring a hassle-free experience.
Cons
- Limited trading pairs
- Currently only supports USDC withdrawals
- Not available in all countries so you need a VPN for some countries, ApeX blocks American IP addresses.
- It’s worth mentioning that competitors like GMX offer up to 50x leverage and Bybit offers up to 100x leverage.
- “Slow withdrawals” typically take up to 4 hours and incur a small fee of $1. For “fast withdrawals” you have to pay a $5 fee..
Trade-to-Earn & Rewards
ApeX’s Trade-to-Earn (T2E) program generously rewards users with BANA tokens for every trade conducted on the platform, in addition to various other perks. Moreover, ApeX offers exciting weekly competitions, retroactive airdrops, trade bounties, and engaging campaigns, all aimed at maximizing rewards for its users.
APEX and BANA Tokens
ApeX offers 2 native tokens: APEX and BANA. APEX serves as the governance token, granting users control over protocol parameters and enabling participation in staking. On the other hand, BANA acts as a rewards token, earned through active participation and trading on ApeX Pro. BANA is generated by burning a portion of the APEX supply.
Both tokens play vital roles within the ApeX ecosystem, offering distinct advantages to their holders.
What Is ApeX Token?
$APEX is the native token of ApeX Protocol. It has the following utilities:
- Governance: Token holders can submit and vote on protocol governance proposals
- Protocol Incentivization: Users can earn ApeX tokens through participation rewards and liquidity mining on the ApeX protocol
Meanwhile, $BANA is the reward token for ApeX Pro. It’s distributed through weekly Trade-to-Earn events. Users can add their $BANA to the $BANA-USDC Pool to receive LP Tokens.
Apex Pro vs dydX vs GMX
dYdX is a prominent decentralized exchange that offers support for spot, margin, and perpetual trading. On the other hand, GMX is a decentralized exchange that specializes in spot and perpetual trading, boasting low swap fees and zero price impact trades. GMX operates on a multi-asset AMM model. Lastly, ApeX Pro is a non-custodial derivative DEX that grants unrestricted access to perpetual contracts through an order book model.
| DEX Overview | ApeX Pro | GMX | dYdX |
|---|---|---|---|
| Native Token | $APEX, $BANA | $GMX, $GLP | $DYDX |
| Blockchain | Ethereum, Binance Chain, Polygon, Arbitrum, Optimism, Avalanche | Arbitrum | Ethereum, dYdX Chain |
| Leverage | 30x | 50x | Up to 20x |
| Trading Fee (Basic Tier) | 0.02%-0.05% maker/taker | 0.10% | 0.020%-0.050% maker/taker |
| Profit Sharing | Yes | Yes | Earn dYdx token with each trade |
| Trading Pairs | 27 | 4 | 38 |
| Platform Type | DEX | DEX | DEX |
| Staking | Yes | Yes | Yes |
How does ApeX Pro Exchange ensure security?
As a decentralized exchange, ApeX Pro Exchange prioritizes security by operating on a blockchain network. By leveraging blockchain technology, the platform ensures transparency and immutability of transactions. Additionally, since ApeX Pro Exchange is non-custodial, users maintain control over their funds throughout the trading process, mitigating the risk of hacks or theft.
What are the benefits of multi-chain support?
ApeX Pro Exchange supports multiple blockchain networks, allowing users to trade a wide range of cryptocurrencies seamlessly. This multi-chain support enhances the liquidity of the platform, ensuring that traders have ample opportunities to execute their strategies. Additionally, it provides traders with the flexibility to diversify their portfolios across different blockchain networks.
How does instant settlement work on ApeX Pro Exchange?
ApeX Pro Exchange employs instant settlement, which means that once a trade is executed, the settlement occurs immediately. This provides traders with real-time results, eliminating the need to wait for confirmation times associated with traditional exchanges. Instant settlement enhances the trading experience by reducing latency and enabling quick decision-making.
Is ApeX DEX Safe?
ApeX Pro is a non-custodial and permissionless DEX. It uses StarkEx’s proofs and Validium to validate transaction batches. ApeX Protocol ensures the safety of user funds by allowing them to remain as the sole custodian of their funds, even if the exchange goes offline.
Below are some of the features offered by ApeX exchange:
– Permissionless
– Non-custodial
– Non-KYC
– Cross-margined perpetual contracts
– Multi-chain support
– Up to 30x leverage
– Instant settlement
Is ApeX a crypto exchange?
ApeX, although built on top of Arbitrum, is more than just a DeFi protocol. It serves as a decentralized crypto exchange specializing in perpetual contracts and leverage trading. Setting itself apart from traditional exchanges, ApeX prioritizes permissionlessness and does not require KYC verification. Thus, it provides a seamless and unrestricted trading experience for users.
What are the maker-taker fees for ApeX Pro?
ApeX Pro charges 00.2% as the maker fees and 0.05% as takers fees.
Is trading on a DEX safe?
Yes, trading on DEX (decentralized exchange) can be considered safe as it eliminates the risks associated with centralized exchanges such as hacking, theft, and manipulation by third parties. On a DEX, traders have control over their own funds since they are stored in their own wallets and not on the exchange platform. This reduces the likelihood of losing funds due to security.
Who Owns ApeX?
ApeX platform was built by ByBit. one of the largest crypto exchanges. It was launched in 2022 as a decentralized version of the exchange with similar leverage trading features.
Is ApeX Exchange Available In All Countries?
ApeX exchange is accessible worldwide, with the exception of the United States (due to regulatory issues). Trading on ApeX exchange is prohibited for U.S. citizens and residents. However, since it’s a decentralized exchange (DEX), users sometimes use VPN to access and trade on this platform.
Does ApeX Exchange require KYC?
Since ApeX is a permissionless, non-custodial, and non-KYC platform it does not require a KYC from its users.
- Official Website: ApeX Exchange
- Gitbook
- X.com
- Tokenomics
