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Japanese yen (JPY) to API3 (API3) Instantly

Purchase API3 (API3) with Japanese yen (JPY) 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 JPY 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 JPY/API3 pair and what does it represent in the crypto market?

    The JPY/API3 pair represents the exchange rate between the Japanese Yen (JPY) and the API3 token. It indicates how many JPY are needed to purchase one API3 token. API3 is a project focused on creating decentralized APIs, or dAPIs, which allow smart contracts to access real-world data directly from first-party oracles, enhancing security and removing intermediaries through its unique Airnode technology.

  • Why is API3's first-party oracle model significant for on-chain data integrity?

    API3's first-party oracle model is significant because it allows data providers to run their own oracle nodes (Airnodes) and deliver data directly to the blockchain. This eliminates third-party oracle networks as middlemen, which reduces attack surfaces and prevents potential data manipulation or rent-seeking by intermediaries. This direct data feed enhances the security and reliability of on-chain data for smart contracts.

  • How can I securely store my API3 tokens after a JPY purchase?

    For maximum security, it is highly recommended to move your API3 tokens from the exchange to a personal digital wallet where you control the private keys. Since API3 is an ERC-20 token, it is compatible with any Ethereum-supporting wallet. For long-term holding, a hardware wallet (cold storage) offers the best protection against online threats like hacking and phishing.

  • What are the common methods for purchasing API3 tokens using Japanese Yen?

    The most direct method is to use a regulated Japanese cryptocurrency exchange that lists the API3 token. Users can fund their accounts with JPY via a domestic bank transfer. This process requires completing KYC/AML (Know Your Customer/Anti-Money Laundering) verification. Once funded, you can place a buy order on the JPY/API3 order book to acquire the digital asset.

  • What kind of fees should I expect when executing a JPY to API3 trade?

    When trading JPY for API3, anticipate several potential fees: 1) Fiat Deposit Fees for transferring JPY from your bank account to the exchange. 2) Trading Fees, which can be a percentage of the transaction value (maker/taker model). 3) Withdrawal Fees, both for withdrawing any remaining JPY to your bank or for transferring your API3 tokens (which are ERC-20) to a private digital wallet, which will also incur a network gas fee.

  • Are there specific regulatory considerations for JPY/API3 trading in Japan?

    Yes, cryptocurrency trading in Japan is strictly regulated by the Financial Services Agency (FSA). Any exchange offering JPY on-ramps must be licensed and adhere to stringent KYC/AML and asset security protocols. This means that when you trade JPY/API3 on a Japanese platform, you are operating within a regulated framework designed to protect consumers and ensure market integrity.

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