How to Stake Convex Finance (CVX) in Australia

Introduction

Staking Convex Finance can be a great option for those who want to hold CVX while earning yield safely and contributing to the network. The steps may seem daunting, especially the first time you attempt them. That's why we've created this guide for you.

Step-by-Step Guide

1. 1. Obtain Convex Finance (CVX) Tokens

   To stake Convex Finance, you need to own it. To obtain Convex Finance, you'll need to buy it. You can choose from these popular exchanges.

   Platform	Coin	Cost
   Nexo	Convex Finance (CVX)	4.22
   Binance	Convex Finance (CVX)	4.23
   BTSE	Convex Finance (CVX)	4.22
   Coinbase	Convex Finance (CVX)	4.22
   Kraken	Convex Finance (CVX)	4.22
   OKX	Convex Finance (CVX)	4.15

   See all 47 prices

2. 2. Choose a Convex Finance Wallet

   Once you have CVX, you'll need to choose a Convex Finance wallet to store your tokens. Here are some great options.

3. 3. Delegate Your CVX

   We recommend using a staking pool when staking CVX. It's simpler and quicker to get started. A staking pool is a group of validators who combine their CVX, increasing their chances of validating transactions and earning rewards. You can do this through your wallet's interface.

4. 4. Begin Validation

   You'll need to wait for your deposit to be confirmed by your wallet. Once it's confirmed, you'll automatically validate transactions on the Convex Finance network. You'll be rewarded with CVX for these validations.

What to Be Aware Of

There are transaction and staking pool fees to consider. Additionally, there may be a waiting period before you start earning rewards. The staking pool needs to generate blocks, which can take some time.