How to Stake Convex Finance (CVX) for optimal returns

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-timers. That’s why we’ve created this guide to assist you.

Step-by-Step Guide for South Korea's Financial Landscape 1

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 from a cryptocurrency exchange. You can choose from these popular platforms available in South Korea.

   플랫폼	코인	Price
   Nexo	Convex Finance (CVX)	3.99 APY
   Binance	Convex Finance (CVX)	3.99 APY
   BTSE	Convex Finance (CVX)	3.99 APY
   Coinbase	Convex Finance (CVX)	3.99 APY
   Kraken	Convex Finance (CVX)	4 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 recommended options that are popular among Korean users.

3. 3. Delegate Your CVX in South Korea

   We recommend using a staking pool when staking CVX. It’s more convenient and quicker to get started. A staking pool consists of a group of validators who combine their CVX, increasing their chances of validating transactions and earning rewards. You can easily 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 Keep in Mind

You should be aware of the transaction and staking pool fees that apply. Additionally, there may be a waiting period before you begin to earn rewards. The staking pool must generate blocks, which can take a bit of time in the process.