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Azerbaijan Manat (AZN) to API3 (API3) Instantly

Purchase API3 (API3) with Azerbaijan Manat (AZN) easily at Switchere and benefit from fast, secure transactions.

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About
API3 (API3)

API3 is a collaborative project dedicated to building, managing, and monetizing decentralized APIs (dAPIs) at scale, directly addressing the blockchain oracle problem. It aims to connect smart contracts with real-world, off-chain data in a more secure, transparent, and cost-effective manner. Unlike traditional oracle models that rely on third-party intermediaries, API3 champions a first-party oracle solution. This model allows API providers to run their own oracle nodes, called Airnodes, with minimal effort. This direct data sourcing from the provider to the blockchain technology eliminates the need for middlemen, reducing attack vectors and increasing the reliability of on-chain data feeds for various DeFi applications and Web3 infrastructure.

The core of the ecosystem is the API3 token, a digital asset that functions as both a utility and governance token. Token holders can participate in the API3 DAO, which governs the entire network, including the selection of dAPIs and collateral management. Staking the API3 token is a crucial component of its tokenomics, as it provides a security collateral and an insurance-like mechanism for users of the dAPIs, guaranteeing service quality and data integrity. This cryptographic security model aligns incentives between API providers, dApp developers, and the DAO, fostering a robust and decentralized Web3 API economy.

API3 (API3)

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How to Buy API3 (API3)

  1. Select currency menu

    Choose AZN to API3 Pair

    Select your preferred payment method and enter the amount.

  2. Crypto address page

    Enter Your API3 Wallet Address

    Provide your API3 wallet address and proceed with the payment.

  3. Confirmation page

    Receive Your API3

    Complete the payment, and your API3 will be sent to your wallet.

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Frequently Asked Questions

  • What is the AZN/API3 trading pair and what does it represent?

    The AZN/API3 pair represents a direct fiat on-ramp allowing you to purchase the API3 digital asset, the native token of the API3 decentralized oracle network, using the Azerbaijani Manat (AZN). This facilitates entry into the API3 ecosystem, which focuses on connecting smart contracts with real-world, first-party data feeds through its unique Airnode technology without relying on third-party middlemen.

  • How does API3's use of first-party oracles impact the asset's value proposition?

    API3's core innovation is its reliance on first-party oracles, where data providers run their own Airnode to serve data directly on-chain. This model enhances the value proposition by eliminating the 'middleman risk' associated with third-party node operators, increasing data source transparency, and reducing attack vectors. This architectural choice aims for more secure and reliable off-chain data integration for dApps, which is a fundamental driver of the API3 token's utility and demand.

  • What are potential fees to consider when executing an AZN to API3 blockchain transaction?

    When converting AZN to API3, there are several fees: 1) Deposit fees for transferring AZN to the exchange via bank transfer. 2) Trading fees on the exchange (maker/taker fees) for executing the buy order. 3) Withdrawal fees, which are critical. When you move your API3 from the exchange to a private digital wallet, you will pay a network fee (gas fee) on the Ethereum blockchain, which can fluctuate based on network congestion.

  • What are the typical methods to buy API3 with Azerbaijani Manat on a cryptocurrency exchange?

    To purchase API3 with AZN, you would typically use a centralized cryptocurrency exchange that supports AZN deposits. Common methods include local bank transfers from an Azerbaijani bank account or using debit/credit cards. You will need to complete KYC/AML compliance checks on the platform before you can deposit fiat currency and place an order on the AZN/API3 order book.

  • What type of digital wallet is needed to securely store API3 tokens after purchase?

    API3 is an ERC-20 token, meaning it operates on the Ethereum blockchain. To securely store your API3, you need an Ethereum-compatible digital wallet. Options include software wallets (like MetaMask or Trust Wallet) for ease of use, or hardware wallets (like Ledger or Trezor) for the highest level of security, as they keep your private keys offline. Always ensure you are in control of your own private keys.

  • How does liquidity on the AZN/API3 pair affect my trading experience?

    Liquidity is a crucial factor. High liquidity on the AZN/API3 pair means there are many buyers and sellers, resulting in a tight bid-ask spread and minimal slippage, allowing you to execute large trades close to the market price. Low liquidity, common in less-traded fiat pairs, can lead to wider spreads and significant slippage, meaning your buy order could be filled at a higher average price than anticipated. Always check the order book depth before trading.

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