How to Stake Convex Finance (CVX): A Step-by-Step Guide for South Africans

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 if it's your first time. That's why we've created this guide to assist you.

Step-by-Step Guide for South African Investors

1. Acquire Convex Finance (CVX) Tokens
To stake Convex Finance, you first need to acquire it. To obtain Convex Finance, you'll need to buy it. You can select from these popular exchanges available in South Africa.
Platform Mint Cost
Nexo Convex Finance (CVX) 1,82
Binance Convex Finance (CVX) 1,82
BTSE Convex Finance (CVX) 1,82
Coinbase Convex Finance (CVX) 1,82
Kraken Convex Finance (CVX) 1,82
OKX Convex Finance (CVX) 2,23
View all 48 prices
2. Select a Convex Finance Wallet
Once you have CVX, you'll need to choose a Convex Finance wallet to store your tokens securely. Here are some solid options to consider.
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 collective of validators who combine their CVX, which increases their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.
4. Start Validating
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. You'll be rewarded with CVX for these validations.

Platform	Mint	Cost
Nexo	Convex Finance (CVX)	1,82
Binance	Convex Finance (CVX)	1,82
BTSE	Convex Finance (CVX)	1,82
Coinbase	Convex Finance (CVX)	1,82
Kraken	Convex Finance (CVX)	1,82
OKX	Convex Finance (CVX)	2,23

What to Keep in Mind

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