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 intimidating, particularly for first-timers. That’s why we’ve created this guide to assist you.

Step-by-Step Guide for Italian Investors

1. 1. Acquire Convex Finance (CVX) Tokens

   To stake Convex Finance, you must first acquire it. To obtain Convex Finance, you'll need to buy it. You can select from these well-known exchanges available in Italy.

   Piattaforma	Criptovaluta	Value
   Nexo	Convex Finance (CVX)	3.96 APY
   Binance	Convex Finance (CVX)	3.96 APY
   BTSE	Convex Finance (CVX)	3.97 APY
   Coinbase	Convex Finance (CVX)	3.96 APY
   Kraken	Convex Finance (CVX)	3.97 APY
   OKX	Convex Finance (CVX)	2.23 APY

   Check out 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 excellent options tailored for the Italian market.

3. 3. Delegate Your CVX

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

4. 4. Begin the Validation Process

   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. For these validations, you'll receive rewards in CVX.

What to Consider in Italy

When engaging in staking, it's important to factor in the transaction and staking pool fees. Additionally, you may encounter a waiting period before you begin to earn rewards. The staking pool must generate blocks, which can take a bit of time.