Last update: Jun 6, 2022

How to Buy API3 (API3)

So you’re looking for a guide on how to buy API3. Depending on your country, you’ll have a few exchanges to choose from.

In this guide, we not only cover the top 3 global crypto exchanges, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

How to Buy API3 – 4 Easy Steps

1. Choose a cryptocurrency exchange

Finding a cryptocurrency trading platform isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have API3 of course.

2. Sign up with the crypto exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger cryptocurrency trading platforms.

4. Buy API3

Now that you have what you need to buy API3, head over to the market or buy section of the crypto trading platform and buy some API3.

If the crypto exchange doesn’t have any API3 on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has API3 first), and trade your Ethereum for API3.

Where to Buy API3 (API3)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell API3

1. Sign into the exchange where you bought API3.
2. Move your API3 to the right place on the crypto exchange. Some exchanges have trading accounts you need to use for buying and selling.
3. Sell API3.

 

How to Buy API3 (API3) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy API3 in Australia, the process remains the same:

1. Find a crypto exchange below.
2. Sign up for an account.
3. Fund your account with AUD.
4. Buy API3 if it’s available. If the exchange doesn’t have API3. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has API3), and trade your ETH for API3.

Or, if you’d like to know more about which exchanges we like, check our list of the best platforms to buy cryptocurrency in Australia.

How to Buy API3 (API3) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy API3 in Canada, the process remains the same:

1. Find a crypto trading platform below.
2. Sign up for an account.
3. Fund your account with CAD.
4. Buy API3 if it’s available. If the exchange doesn’t have API3. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has API3), and trade your ETH for API3.

Or, if you’d like to know more about which exchanges we prefer, read our comparison of the best platforms to buy cryptocurrency in Canada.

How to Buy API3 (API3) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy API3 in the UK, the process remains the same:

1. Find a cryptocurrency exchange below.
2. Sign up for an account.
3. Fund your account with GBP.
4. Buy API3 if it’s available. If the exchange doesn’t have API3. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has API3), and trade your ETH for API3.

Or, if you’d like to know more about which exchanges we prefer, read our list of the trusted crypto exchanges in the UK.

Considering buying API3? API3 Rundown

Smart contracts are often unable to access reliable data. However, application programming interfaces ( APIs ) have been promoted as a solution.

API3 is a decentralized version of APIs that can be managed, built and monetized at scales. The team behind the project believes that blockchain technology is playing an increasing role in the economy, from decentralized finance and supply chain management to decentralized finance and banking. This makes it more crucial than ever for smart contracts to provide reliable, timely real-world data.

In September 2020, the whitepaper on API3 was released. It addressed the major problem with APIs today: connectivity. Smart contracts are unable to connect to APIs to get the most recent data at the moment, which has led to a surge in popularity of Oracles.

This has been a good step towards solving the problem, but the industry is still struggling with the "Blockchain Oracle Problem." Oracles can be described as a type of middleware that sits between smart contracts and APIs. They increase costs and centralize the process. API3 aims to solve this problem by allowing API providers to manage their own nodes.

After a token sale that raised tens of thousands of dollars, API3's token was made live at the beginning of December.

We hear a lot about projects in the crypto and blockchain world that aim to bring this technology into established industries like finance and real estate. API3's goal to solve some of the issues that have arisen in the blockchain space is one of its most appealing attributes.

APIs are essential because they provide blockchains with off chain data. Without it, these decentralized ledgers would not know how much coins should have.

Vanttinen explained why API3 is so unique. He said that decentralized APIs can provide "superior data transparency all the time to the factual level of the data source," as opposed to existing decentralized Oracles which don't consider the data source API within their scope.

Airnode, a lightweight and robust middleware that allows API3 to become a reality, was created. Its unique qualities include its ability to be deployed in minutes, increasing transparency, and significantly reducing transaction fees.

Related:

• How to Buy ApeCoin (APE)
• How to Buy Aragon (ANT)