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Malaysian Ringgit (MYR) to API3 (API3) Instantly

Purchase API3 (API3) with Malaysian Ringgit (MYR) 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 MYR 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 are the common methods to buy API3 with Malaysian Ringgit (MYR)?

    To purchase the API3 token using MYR, the most direct fiat on-ramp is through a centralized cryptocurrency exchange that supports MYR deposits. Typically, this involves using local payment methods like FPX online banking or direct bank transfers. Users must complete KYC/AML compliance checks on these platforms before they can fund their account with Malaysian Ringgit and execute a trade on the MYR/API3 order book.

  • What kind of digital wallet do I need for storing API3 tokens after purchase?

    Since API3 is an ERC-20 token, primarily on the Ethereum blockchain, you need an Ethereum-compatible digital wallet for secure storage. Popular options include software wallets like MetaMask or Trust Wallet, and for enhanced security, hardware wallets like Ledger or Trezor are highly recommended. After purchasing on an exchange, it is a security best practice to withdraw your API3 tokens to your personal wallet for self-custody, giving you full control over your private keys.

  • Are there specific risks or fees to consider when trading MYR for API3?

    Yes. Beyond standard digital asset volatility, consider these fees: 1) Fiat Deposit Fees for MYR via methods like FPX. 2) Trading Fees on the exchange, which can be a percentage of the transaction value (maker/taker model). 3) Withdrawal Fees when you move API3 to a private wallet, which includes the exchange's fee plus the blockchain network's gas fee. A key risk is using an unregulated platform; always choose a cryptocurrency exchange that is regulated by the Securities Commission Malaysia for better security and compliance.

  • What is the core function of API3 and its relevance in the Web3 ecosystem?

    API3 is a decentralized oracle network that enables smart contracts to connect with real-world data and services. Its unique approach utilizes first-party oracles, operated directly by the data providers themselves via a technology called Airnode. This eliminates intermediaries, enhancing data integrity and transparency. For Web3, this is crucial as it allows decentralized applications (dApps) to access reliable, off-chain data for functions like DeFi, insurance, and supply chain management.

  • What is the role of the API3 DAO and how can token holders participate?

    The API3 DAO (Decentralized Autonomous Organization) is the governance body for the API3 project. Holders of the API3 token can participate in governance by staking their tokens in the governance contract. Staking grants them voting power on proposals that direct the project's development, treasury management, and operational parameters for the Airnode oracle network. This on-chain voting mechanism ensures the project remains decentralized and community-driven, and stakers often receive staking rewards.

  • How can I ensure secure trading when converting MYR to API3?

    To ensure secure trading, exclusively use reputable cryptocurrency exchanges that are officially registered and regulated in Malaysia. Enable two-factor authentication (2FA) on your exchange account for an extra layer of security. Use a strong, unique password and be vigilant against phishing scams targeting your login credentials. For long-term holding, transfer your API3 tokens from the exchange to a non-custodial hardware or software wallet where you control the private keys.

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