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 might seem a bit overwhelming, particularly if you're doing it for the first time. That's why we've created this guide specifically for you.

Step-by-Step Guide for Ugandan Investors

1. 1. Acquire Convex Finance (CVX) Tokens

   To stake Convex Finance, you first need to acquire it. To obtain Convex Finance, you will have to buy it. You can select from these well-known exchanges available in Uganda.

   E-platform	Coin	Cost
   Nexo	Convex Finance (CVX)	4.21 APY
   Binance	Convex Finance (CVX)	4.21 APY
   BTSE	Convex Finance (CVX)	4.21 APY
   Coinbase	Convex Finance (CVX)	4.21 APY
   Kraken	Convex Finance (CVX)	4.21 APY
   OKX	Convex Finance (CVX)	2.23 APY

   See all 47 prices in Uganda

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 reliable 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 keep in mind. Additionally, there may be a waiting period before you begin earning rewards. The staking pool will need to generate blocks, which can take a bit of time.