How to Stake Convex Finance (CVX)

Introduction

Staking Convex Finance can be an excellent choice for those looking to hold CVX while earning APY in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly for first-time users. That's why we've created this guide to assist you.

Step-by-Step Anleitung

1. 1. Acquire Convex Finance (CVX) Tokens

   To stake Convex Finance, you first need to acquire it. To obtain Convex Finance, you'll need to purchase it. You can choose from these well-known exchanges available in Germany.

   Plattform	Kryptowährung	Price
   Nexo	Convex Finance (CVX)	3,96 APY
   Binance	Convex Finance (CVX)	3,95 APY
   BTSE	Convex Finance (CVX)	3,95 APY
   Coinbase	Convex Finance (CVX)	3,96 APY
   Kraken	Convex Finance (CVX)	3,93 APY
   OKX	Convex Finance (CVX)	2,23 APY

   View all 47 prices

2. 2. Select a Convex Finance Wallet

   Once you have CVX, you'll need to select a Convex Finance wallet to securely store your tokens. Here are some solid options to consider.

3. 3. Delegate Your CVX

   We recommend using a staking pool when staking CVX. It's simpler and faster to get started. A staking pool is a collective of validators who pool their CVX, which increases their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.

4. 4. Start Validating

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

What to Consider

There are transaction and staking pool fees you need to consider. Additionally, there may be a waiting period before you begin earning rewards. The staking pool must generate blocks, and this process can take some time.