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Convex Finance

Buy Convex Finance

How & Where to Buy Convex Finance (CVX)

Buying Convex Finance (CVX) for funds from your bank requires a 2-step process. You're going to buy some BTC or ETH from an exchange that accepts deposits from a debit card or bank account, and then you're going to transfer your newly bought crypto to a marketplace that sells CVX in exchange for bitcoin or Ether.

Step 1Buy BTC or ETH at Coinbase

Sign up and purchase BTC or ETH at Coinbase.

If Coinbase is not available in your jurisdiction, view our list of exchanges that sell BTC or ETH for Government issued money.

Step 2Go to a supporting CVX exchange:

Transfer your newly purchased BTC or ETH from your wallet to one of the exchanges listed below.

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Convex Finance Price & Information

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Convex Finance Calculator

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Why Should I Buy Convex Finance (CVX)?

How and Where to Buy Convex Finance (CVX)

Launched in May 2017, the team of Convex Finance developers remains anonymous, but the DeFi protocol may be one of the most influential of its type. The platform has more than $15 million of total value locked (TVL).

“Stake your CVX rewards back into the platform and earn platform fees.” – Convex Finance website.

What Is Convex Finance (CVX)?

Convex Finance is a decentralized finance (DeFi) protocol built on top of Curve, an exchange liquidity pool on Ethereum and one of the largest DEXs globally. The Convex Finance protocol enables liquidity providers on Curve to receive a share of trading fees without staking liquidity. Liquidity providers stake with Convex Finance to earn boosted Curve DAO tokens (CRV). 

Convex Finance aims to gain maximum control of the Curve Finance exchange because the protocol that has the most $CRV tokens has the power to influence Curve interest rates.

$CVX is the native platform crypto token for Convex Finance. When users stake their $CVX on Convex Finance, they receive a portion of Curve’s liquidity providers’ $CRV token earnings. $CVX staked receives $cvxCRV (tokenized $veCRV), as a percentage of the fees.

What Makes Convex Finance (CVX) Unique?

Convex Finance has a distinctive structure for user incentives, intent on achieving the maximum total value locked (TVL) for a controlling stake in Curve Finance. To achieve this goal, Convex Finance targets liquidity providers on Curve Finance and also $CRV holders: –

  • When staking $CRV token holders receive $cvxCRV rewards
  • When Curve liquidity providers stake their LP tokens with Convex Finance, they receive boosted rewards

$veCRV (vote-escrowed $CRV) are time-locked $CRV tokens that give rewards as much as 2.5 times the initial rewards. It also gives governance to users that stake it. The issue is that more liquidity deposited makes it challenging to gain the maximum rewards. Convex Finance resolves this issue by pooling individual staker’s assets (Curve Finance liquidity providers), and there’s no minimum on the level of investment to receive the boosted rewards. In return, stakers receive: –

  • Interest on the liquidity provided
  • A percentage of the Curve trading fees
  • Boosted Convex rewards
  • $CVX tokens

In addition, you can receive $CVX by staking your $CRV tokens and receive $veCRV rewards, $CVX tokens and a share of Convex trading fees.

“Liquidity providers – Earn CRV with a better boost. Deposit your Curve LP tokens to earn Curve trading fees, boosted CRV and CVX tokens. Boost is pooled from CRV stakers so you do not need to worry about locking yourself.” Convex Finance website.

In December 2021, Convex Finance announced a collaboration with Frax Finance, introducing $FXS to the Convex platform. Users can lock-in $FXS as $veFXS for voting rights and fee sharing. As Frax Finance has a similar lock-in protocol to Convex, the network believes the partnership will be beneficial for the Convex ecosystem.

How and Where to Buy Convex Finance (CVX)?

If you are a newbie to the cryptocurrency space, you may wonder how and where to buy $CVX tokens safely. Binance is an established, reliable cryptocurrency exchange. It is considered world-leading for trading volume and has an impressive range of markets and crypto coins: –

  1. Open up the official Binance website and register for an account
  2. Submit your ID documentation and personal details for a verified account, giving you access to all services
  3. Deposit with Visa or Mastercard, cryptocurrency or wire transfer
  4. Locate the “Exchange” tab on the Binance website
  5. Choose a $CVX pair from CVX/USDT, CVX/BUSD or CVX/BTC
  6. Store your $CVX in a secure wallet. Binance has two options, an exchange wallet, or you can download the Trust Wallet to your mobile device

How do I Sell Convex Finance (CVX)?

  1. You can quickly sell your $CVX tokens if you have the Trust Wallet app. Alternatively, log in to the Binance exchange wallet
  2.  Click on the “Trade” tab and sell your $CVX tokens for a stablecoin like $USDT
  3. The next step is to transfer the $USDT to an off-ramp platform where you can exchange it for fiat currencies. Coinbase and Gemini are ideal for this service
  4. Finally, from the off-ramp platform, sell the $USDT for your chosen fiat currency and request a bank transfer

Should I Buy Convex Finance (CVX)?

Unfortunately, we cannot give you financial advice about buying cryptocurrencies. Only you can decide whether to buy Convex Finance (CVX) tokens or not, and we advise digging a little deeper into the project so that you fully understand it and can make a decision armed with more knowledge.

That said, always purchase from a cryptocurrency exchange with a good reputation in the crypto space. We recommend Binance for buying $CVX tokens, while Gate.io and KuCoin are also reputable exchanges with a good range of markets, coins and services.

How do I invest in Convex Finance (CVX)? Safely?

All financial investments come with associated risks, and the cryptocurrency market is no different. Indeed, it is a highly volatile market, often with massive price swings. You must feel confident in the Convex Finance (CVX) project before purchasing $CVX tokens, and as with any investment, doing your research can help prevent impulse buying.

Only purchase from a trustworthy exchange like Binance, Gate.io or KuCoin. They’ve been around for many years, and all have crypto wallet options for registered users. Gate.io has CVX/USDT and CVX/ETH pairs, and KuCoin lists CVX/USDT.