How and Where to Buy Curve DAO Token (CRV)
Michael Egorov, a Russian scientist, founded Curve in January 2020. He is a graduate of the Moscow Institute of Physics and Technology, with cryptography and quantum computing. He has numerous experiences with cryptocurrency-related projects and, in 2015, co-founded an encryption company, NuCypher. In addition, Egorov assisted LinkedIn in helping develop the infrastructure for scalability and is the founder of LoanCoin, a decentralized bank network.
In August 2020, Egorov launched the Curve DAO (decentralized autonomous organization) with $CRV as its native token. He allocated 71% of the tokens to himself and a significant amount to the Curve team. Egorov has since stated that he may have “overreacted” by locking up such a vast amount of $CRV because, in effect, it gave him, as the CEO, 71% of the network voting power.
Curve Finance has over $1 billion of value locked into the network, making it one of the largest DeFi protocols.
What Is Curve DAO Token (CRV)?
Curve is a decentralized exchange for stablecoins using an AMM (automated market maker) for managing liquidity. The DAO uses Aragon, an Ethereum-based creation tool that connects multiple smart contracts to enable liquidity. The primary purpose is for swapping assets of equal value, and with low trading fees, it’s useful for activities like liquidity mining and yield farming.
You may find the Curve website confusing if you’re a newbie to the DeFi finance space. It immediately pops up a request to connect your crypto wallet, and the front-end interface is unusual and not easy to understand for a beginner. Unlike most glossy cryptocurrency websites, it isn’t a polished front-end experience. It looks more like a version of Windows 3.1. If you’re planning to invest in $CRV tokens, it’s best to purchase from a reputable cryptocurrency exchange with a user-friendly interface, and we’ll provide details later in the post.
What Makes Curve DAO Token (CRV) Unique?
Interest in DeFi trading is increasing exponentially, and Curve has attracted attention because of its purpose as an automated market maker explicitly for trading stablecoins without an intermediary. The Curve DAO Token (CRV) is an Ethereum-based token that fuels the Curve ecosystem.
The Curve protocol enables the exchange of ERC-20 tokens and supports swapping crypto tokens based on Ethereum. Curve acts as a decentralized exchange connecting users with exchanges that provide the best rates.
How and Where to Buy Curve DAO Token (CRV)?
The first step in purchasing Curve DAO Token (CRV) tokens is to choose a reputable cryptocurrency exchange. With over 300 listed crypto exchanges online, how do you find a platform you can trust? Thankfully, we’ve done the hard work for you, and when you’re ready to buy $CRV, we recommend Binance, a popular exchange for crypto newbies and experienced investors: –
- Open the Binance website and, in the top right corner, click on the “register” tab
- Upload your necessary identity documents and fill in your details
- Once your account is verified, log in and click on “deposit.” You can use your Visa or Mastercard, Wire transfer, or cryptocurrency (Binance supports over 390 coins)
- On the “exchange”, choose a $CRV pair: CRV/USDT, CRV/BTC, CRV/BUSD, CRV/ETH
- Once complete, transfer your $CRV holdings to a secure crypto wallet. Binance has a free mobile wallet (Trust Wallet), which you can download for iOS or Android
How do I Sell Curve DAO Token (CRV)?
- Log in to your Binance account or open the Trust Wallet app
- Click on the “trade” tab
- Sell your $CRV tokens for $USDT, a stablecoin that you can easily convert to fiat currency
- Transfer the $USDT to Coinbase or Gemini (popular off-ramp platforms with a good range of fiat currencies)
- When the $USDT is in your account, sell it for a fiat currency and then request a withdrawal to your bank account
Should I Buy Curve DAO Token (CRV)?
Buying Curve DAO Token (CRV) is a choice only you can make because we cannot advise on financial matters. If you are a complete beginner, take your time finding out more about the Curve DAO Token project. You might want to join a Curve DAO Token social media channel and talk to other members, so you can decide if you wish to invest in $CRV tokens. We advise registering with a trustworthy cryptocurrency exchange like Binance, Coinbase, or Gate.io.
How do I invest in Curve DAO Token (CRV)? Safely?
There isn’t an investment in the world that can be deemed safe, and cryptocurrency is no exception. You can, however, take a calculated risk by understanding what you buy in greater depth.
Three primary factors to research are: –
- Is the project infinitely scalable?
- Has the project attracted institutional investment?
- Does it have many high-profile partnerships?
$CRV token pairs listed on Coinbase and Gate.io