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Bangladeshi Taka (BDT) to API3 (API3) Instantly

Purchase API3 (API3) with Bangladeshi Taka (BDT) 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 BDT 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 primary method for buying API3 tokens with Bangladeshi Taka (BDT)?

    The most common method to acquire API3 with BDT is through peer-to-peer (P2P) platforms integrated within major cryptocurrency exchanges. These platforms act as a fiat on-ramp, allowing you to directly transact with vendors using local payment methods like bKash, Nagad, or bank transfers. After completing the KYC/AML compliance process, you can securely purchase a stablecoin like USDT and then trade it for API3 on the exchange's spot market, gaining access to this innovative first-party oracle network.

  • As an ERC-20 token, what network fees apply when moving API3 purchased with BDT?

    Since API3 is an ERC-20 token operating on the Ethereum blockchain, any transfer of the token from an exchange to a personal digital wallet will incur Ethereum network gas fees. These fees, paid in ETH and measured in Gwei, compensate miners for validating the blockchain transaction. The cost can fluctuate based on network congestion. Always check the current gas fee before initiating a withdrawal to manage costs effectively.

  • What are the security risks when using BDT on P2P platforms for API3?

    When using P2P platforms for BDT-to-crypto transactions, the primary risks involve counterparty fraud. To mitigate this, always use the platform's escrow service, which holds the digital asset until your BDT payment is confirmed. Trade only with vendors who have a high reputation score and a large number of completed orders. Never release payment outside the platform's official channels and ensure the name on the bank account or mobile payment service matches the verified name on the P2P platform to comply with secure trading practices.

  • What technical problem does API3 solve for smart contracts?

    API3 addresses the 'oracle problem' by connecting smart contracts to real-world data and services. It does this uniquely through first-party oracles, where the API providers themselves operate their own oracle nodes (called Airnodes). This design eliminates rent-seeking middlemen, reduces attack surfaces, and provides more transparent and reliable on-chain data feeds, which are crucial for DeFi protocols and other decentralized applications (dApps).

  • What role does the API3 DAO play for token holders?

    The API3 DAO (Decentralized Autonomous Organization) is the core governance mechanism for the project. By holding and staking API3 tokens, users gain voting rights on key proposals that shape the network's future, such as software upgrades, treasury management, and dAPI portfolio selection. This decentralized governance model empowers the community to collectively manage the protocol, aligning the incentives of token holders with the long-term success of the first-party oracle network.

  • Is it possible to directly purchase API3 with BDT on a centralized exchange's order book?

    Currently, direct BDT/API3 trading pairs on centralized exchange order books are extremely rare due to lower trading volume and liquidity for the BDT fiat currency. The standard pathway involves a two-step process: first, use a P2P market or fiat gateway to convert BDT into a highly liquid cryptocurrency like USDT or BUSD. Second, use that stablecoin to trade for API3 on the spot market. This method provides better liquidity and more reliable price discovery for your digital asset purchase.

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