How to Lend Convex Finance (CVX)

Introduction

Lending Convex Finance can be an excellent choice for those looking to hold CVX while earning some returns. The process might seem a bit overwhelming, particularly if you're doing it for the first time. That's why we've created this guide to help you navigate through it smoothly.

Step-by-Step Guide for Ugandan Investors

1. 1. Acquire Convex Finance (CVX) Tokens

   To lend Convex Finance, you first need to possess it. To acquire Convex Finance, you will have to buy it. You can select from these popular exchanges available in Uganda.

   E-platform	Coin	Cost
   Nexo	Convex Finance (CVX)	1.77 APY
   Binance	Convex Finance (CVX)	1.78 APY
   BTSE	Convex Finance (CVX)	1.77 APY
   Coinbase	Convex Finance (CVX)	1.77 APY
   Kraken	Convex Finance (CVX)	1.76 APY
   OKX	Convex Finance (CVX)	2.23 APY

   See all 48 prices in Uganda

2. 2. Select a Convex Finance Lender

   Once you have CVX, you'll need to select a Convex Finance lending platform to lend your tokens. You can explore some options here.

   E-platform	Coin	APY
   Kucoin	Convex Finance (CVX)	Up to 0.5% APY

3. 3. Lend Your Convex Finance

   Once you've selected a platform to lend your Convex Finance, transfer your Convex Finance into your wallet on the lending platform. After it's deposited, it will begin to earn APY. Some platforms pay interest daily, while others do so weekly or monthly.

4. 4. Grow Your Savings

   Now all you need to do is relax while your cryptocurrency earns APY. The more you deposit, the higher your potential returns. Ensure that your lending platform offers compounding interest to maximise your earnings.

What to Keep in Mind

Lending your cryptocurrency can be risky. Ensure you conduct thorough research before depositing your crypto. Only lend what you can afford to lose. Review their lending practices, customer feedback, and the measures they take to secure your cryptocurrency.