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Egyptian pound (EGP) to API3 (API3) Instantly

Purchase API3 (API3) with Egyptian pound (EGP) 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 EGP 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 exactly is the EGP/API3 trading pair?

    The EGP/API3 pair represents the direct exchange rate between the Egyptian Pound (EGP) and the API3 token. It serves as a fiat on-ramp, allowing users to purchase API3, a digital asset that powers a decentralized oracle network. This network enables smart contracts to access real-world data through first-party oracles using its unique Airnode technology.

  • What role does the API3 token play within its ecosystem after being acquired with EGP?

    Once acquired, the API3 token has two primary functions. First, it is a governance token, granting holders voting rights in the API3 DAO to influence the project's direction. Second, it can be staked in the insurance pool to provide security and collateral for the network's dAPIs (decentralized data feeds), earning stakers a share of the protocol's revenue as staking rewards.

  • How does API3's first-party oracle architecture provide value for someone investing from EGP?

    Investing in API3 with EGP gives you exposure to its unique first-party oracle model. Unlike third-party oracles, API3's Airnode technology allows API providers to run their own oracles, eliminating middlemen. This direct data sourcing enhances transparency, reduces attack vectors, and lowers costs for dApps, creating a potentially more secure and efficient oracle solution which underpins the token's value.

  • What are common payment methods for purchasing API3 with Egyptian Pounds?

    To buy API3 with EGP, users typically rely on cryptocurrency exchanges that support EGP deposits. Common methods include local bank transfers, mobile payment services popular in Egypt, or peer-to-peer (P2P) platforms. All reputable platforms will require KYC/AML compliance before allowing fiat deposits for a secure trading environment.

  • Are there specific digital wallet requirements for storing API3 tokens?

    Yes, API3 is primarily an ERC-20 token on the Ethereum blockchain, but it also exists on other EVM-compatible chains. Therefore, you need a digital wallet that supports the Ethereum network or the specific chain you're using, such as MetaMask, Trust Wallet, or a hardware wallet like Ledger for enhanced security. Always ensure you are on the correct blockchain network when managing your assets.

  • What fees and regulatory aspects should be considered when converting EGP to API3?

    When converting EGP to API3, consider several potential fees: exchange trading fees, fiat deposit fees for EGP, and network withdrawal fees (gas fees) if you move your API3 to an external digital wallet. Regulatorily, ensure you use a cryptocurrency exchange that is compliant with Egyptian laws regarding digital assets and adheres to strict KYC/AML procedures for your security and legal protection.

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