Last update: Jun 6, 2022

How to Buy Convex Finance (CVX)

So you’re looking for a guide on how to buy Convex Finance. Depending on where you’re located, you’ll have various trading platforms to choose from.

In this guide, we not only cover the top 3 global cryptocurrency trading platforms, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

How to Buy Convex Finance – 4 Easy Steps

1. Choose a crypto exchange

Finding a crypto trading platform isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have Convex Finance of course.

2. Sign up with the cryptocurrency exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger cryptocurrency trading platforms.

4. Buy Convex Finance

Now that you have what you need to buy Convex Finance, head over to the market or buy section of the cryptocurrency exchange and buy some CVX.

If the crypto exchange doesn’t have any Convex Finance on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has Convex Finance first), and trade your Ethereum for Convex Finance.

Where to Buy Convex Finance (CVX)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell Convex Finance

1. Sign into the exchange where you bought Convex Finance.
2. Move your Convex Finance to the right place on the exchange. Some exchanges have trading accounts you need to use for buying and selling.
3. Sell Convex Finance.

 

How to Buy Convex Finance (CVX) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy Convex Finance in Australia, the process remains the same:

1. Find a cryptocurrency trading platform below.
2. Sign up for an account.
3. Fund your account with AUD.
4. Buy Convex Finance if it’s available. If the exchange doesn’t have Convex Finance. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Convex Finance), and trade your ETH for Convex Finance.

If you’d like to learn more about the exchanges we prefer, read our comparison of the cryptocurrency exchanges in Australia.

How to Buy Convex Finance (CVX) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy Convex Finance in Canada, the process remains the same:

1. Find a crypto trading platform below.
2. Sign up for an account.
3. Fund your account with CAD.
4. Buy Convex Finance if it’s available. If the exchange doesn’t have Convex Finance. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Convex Finance), and trade your ETH for Convex Finance.

It’s also possible to take a look at our analysis of the bitcoin trading platforms in Canada for those curious to know more about the exchanges we like.

How to Buy Convex Finance (CVX) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy Convex Finance in the UK, the process remains the same:

1. Find a crypto trading platform below.
2. Sign up for an account.
3. Fund your account with GBP.
4. Buy Convex Finance if it’s available. If the exchange doesn’t have Convex Finance. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Convex Finance), and trade your ETH for Convex Finance.

Or, if you’d like to know more about the exchanges we prefer, read our comparison of the best crypto exchanges in the UK.

Considering buying Convex Finance? CVX Rundown

Convex Finance, a DeFi protocol, allows Curve liquidity providers earn a share in trading fees without having to stake liquidity. Convex Finance allows LPs to stake and receive a boosted CRV as well as liquidity mining rewards. This allows CRV stakers to have a better capital efficiency and makes Convex Finance an important player in the Curve Wars.

Convex is in a race to control the Curve Finance stablecoin stock exchange. The more CRV tokens that a protocol holds, the greater its influence on interest rates for Curve. This is the largest DEX worldwide by TVL. The "Curve Wars" are a race to influence the protocol that is most important in DeFi.

Because of its unique incentive structure, Convex Finance plays an important role in the Curve Wars. Its only purpose is to collect as much TVL possible in order to reach the protocol's goal to control as large a share of Curve Finance. Convex Finance targets only Curve liquidity providers (CRV holders) and CRV holders.

cvxCRV is available to holders of CRVs for taking the CRV.
Convex offers a boost in rewards to Curve LPs who stake their tokens with Convex.
Curve Finance issues the vote-escrowed credit card veCRV to liquidity providers as a reward for staked CRV. Basically, veCRV tokens are time-locked CRV tokens that have boosted voting power as well as rewards. These are both functions of the lock-up period for the underlying CRV. You can find out more about veCRV . The CRV rewards can be as high as 2.5X the initial rewards. However, the greater the amount of liquidity that is deposited, the more difficult and costly it will be to achieve the maximum rewards.

Convex Finance is a way to get the maximum boost. Convex Finance acts as a cartel, pooling the assets of individual stakers to reap the benefits of their aggregated liquidity. Convex allows even low-level investors to stake Curve Finance LPs and receive a boost in rewards that wouldn't otherwise be possible.

They get:

• Their liquidity is subject to an interest rate.
• A share of Curve trading fees.
• Convex offers a higher reward.
• CVX tokens

You can also stake your CRV tokens to receive cvxCRV:

• Rewarding veCRV
• Convex trading fees
• CVX tokens
• Airdrops to veCRV token holder

Related:

• How to Buy Contentos (COS)
• How to Buy Cortex (CTXC)