If you want to become a crypto trader then knowledge about some technical jargon of cryptocurrency is necessary. Without knowing technical terms, a trader cannot circulate in type social platforms. Unlike bull and bear markets, there exists another term ‘APE’ in crypto. A large number of beginner traders don't know about apes. Mostly you have heard it in sentences like “What coins are you aping into?”. But you didn't get the meaning. So let's see what does APE means in crypto?
What Does APE Mean in Crypto?
APE is when you buy a crypto coin without going through technical and diligent research. A large number of crypto projects launch in the market daily. Due to tough competition, people prefer to buy a coin as soon as it is launched. In this way, chances to miss a good opportunity decrease.
In simple words, APE means to buy an NFT or crypto coin without spending extra time in research.
Trend of APE
The question arises, how does the concept of APE appear? The term APE became popular due to ‘Defi summer’. In 2020, when a sudden release of an unannounced project accelerated the market. Without going into project details people invested in this project and earned a good amount of profit.
This incident set the trend of APE in crypto. People have started believing that researching projects and coin details are just a waste of time and opportunity. Blindly invest in a crypto coin and get a profit.
If you are a crypto trader then you desire to know the advantages of APE in crypto. Let's discuss why a series of traders are going for this methodology
- The number of traders is very less and your chances to get the coin increases
- A probability exists that a particular crypto project will become a great success in the future and you could earn a heavy profit
- You can get rid of dilemma situation where you serve time in thinking about whether to buy or not to buy a coin
- Without proper research, chances are higher that you are investing in something which will lead you to no profit in the coming days
- You can miss some bits and details which could be necessary but a spontaneous decision has cost you heavy
- A bull project can become a bull market easily. So, if you have invested in a bull project without going through details then you have created a huge loss for yourself.
Is Aping Good in Crypto?
The answer to the question is very subjective. If you look at cryptocurrency from a trading perspective then go ahead. Traders like to explore different and new projects. The most that can happen in aping crypto is a minor loss but traders are ready for such risks.
If you have an investment perspective towards cryptocurrency then decide after full research. APE is not for people who buy coins on the marketplace for safe investment. Because investors are not mentally prepared for such losses or failures.
Cryptocurrency is a very sensitive world of trading. A minor error can lead you to a heavy loss. Mostly, cases are seen where people don't prefer the research stage and then regret their decision. Hence, before investing it's better to research.