Introduction
Staking Convex Finance can be an excellent option for those who wish to hold CVX while earning AER in a secure manner and contributing to the network. The process may seem a bit overwhelming, particularly the first time you undertake it. That's why we've compiled this guide for you.
Step-by-Step Guide
1. Obtain Convex Finance (CVX) Tokens
To stake Convex Finance, you need to possess it. To obtain Convex Finance, you'll need to purchase it. You can choose from these popular exchanges.
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 suitable options.
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, which increases their chances of validating transactions and earning rewards. You can do this through your wallet's interface.
4. Start Validating
You will need to wait for your deposit to be confirmed by your wallet. Once it is confirmed, you will automatically validate transactions on the Convex Finance network. You will be rewarded with CVX for these validations.
What to Be Aware Of
There are transaction and staking pool fees you need to consider. There may also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.
Latest Movements in the UK
Convex Finance (CVX) is currently priced at US$2.5 with a 24-hour trading volume of US$63.92M. The market cap of Convex Finance stands at US$337.75M, with 81.99M CVX in circulation. For those looking to purchase or trade Convex Finance, FMFW.io offers avenues to do so securely and efficiently
- Market capitalisation
- US$337.75M
- 24-hour volume
- US$63.92M
- Circulating supply
- 81.99M CVX
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