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 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. 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)	3,79
   Binance	Convex Finance (CVX)	3,79
   BTSE	Convex Finance (CVX)	3,79
   Coinbase	Convex Finance (CVX)	3,79
   Kraken	Convex Finance (CVX)	3,79
   OKX	Convex Finance (CVX)	2,23

   View all 47 prices

2. 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. 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. 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.

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.