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Bulgarian Lev (BGN) to API3 (API3) Instantly

Purchase API3 (API3) with Bulgarian Lev (BGN) 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 BGN 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 purchasing API3 tokens with Bulgarian Lev (BGN)?

    The most common method is using a cryptocurrency exchange that acts as a fiat on-ramp supporting BGN deposits. Users typically register, complete KYC/AML compliance, and then fund their account via a BGN bank transfer, often using the SEPA system for efficient, low-cost transactions within Europe. Once the account is funded, you can purchase the API3 digital asset directly through the BGN/API3 trading pair.

  • What security measures are crucial when trading BGN for API3 on an exchange?

    Prioritize using a reputable, regulated cryptocurrency exchange with a strong security track record. Always enable Two-Factor Authentication (2FA) for your account. After purchasing, it is highly recommended to withdraw your API3 tokens from the exchange to a personal digital wallet where you control the private keys. A hardware wallet offers the highest level of security for long-term storage of your digital assets.

  • Are there specific challenges or fees when converting BGN to a crypto asset like API3?

    The main challenge is finding a cryptocurrency exchange with good liquidity for the BGN/API3 pair, as it may be less common than EUR or USD pairs. Fees typically include a deposit fee for the BGN transfer, a trading fee (usually a small percentage of the trade value), and a network fee for withdrawing the API3 tokens to your wallet. Using SEPA transfers for BGN deposits can often minimize bank fees.

  • What is the function of the API3 token within its decentralized oracle network?

    The API3 token is central to the project's ecosystem. Its primary function is governance in the API3 DAO, allowing holders to vote on project upgrades and parameters. Additionally, tokens are staked to provide security and insurance for the data feeds, known as dAPIs (decentralized APIs), which are powered by first-party oracles via Airnode technology. Stakers earn a share of the protocol's revenue.

  • Why is API3's focus on first-party oracles a significant technical advantage?

    API3's architecture eliminates third-party oracle node operators, who act as middlemen in traditional oracle models. By enabling API providers to run their own 'Airnode' oracle nodes, data is sourced directly from the provider (first-party). This reduces attack vectors, eliminates rent-seeking middlemen, increases data transparency, and provides what API3 calls 'quantifiable security' for on-chain data feeds.

  • Once I have API3, how do I participate in the API3 DAO and staking?

    To participate, you need to connect a compatible Web3 digital wallet (like MetaMask) containing your API3 tokens to the official API3 DAO dashboard. From there, you can stake your tokens into the insurance pool. Staking your tokens grants you voting power on DAO proposals and makes you eligible to receive weekly staking rewards, which come from protocol revenue.

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