Convex Finance is up 47% yesterday and continues its gains today. However, it has suffered dramatic losses recently and generally looks quite volatile. If you are drawn to unique features and want to know how and where to buy Convex Finance, this guide is for you.
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Top places to buy Convex Finance now
As CVX is such a new asset, it has not yet been listed on major stock exchanges. You can still buy CVX using a DEX (decentralized exchange), which just means there are a few extra steps. To buy CVX now, follow these steps:
1. Buy ETH on a regulated exchange or broker such as eToro ›
We suggest eToro because it is one of the world’s leading multi-asset trading platforms, an all-in-one exchange and wallet with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other service out there.
2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask
You will need to create your wallet, get your address and send your coins there.
3. Connect your wallet to Uniswap DEX
Head over to Uniswap, and ‘connect’ your wallet to it.
4. Now you can exchange your ETH for CVX.
Now that you are connected, you can exchange hundreds of currencies, including CVX.
What is Convex Finance?
Convex Finance is a DeFi project built on top of Curve, a community-governed DEX focused on stablecoins. Their model is to attract Curve liquidity providers and Curve DAO Token (CRV) holders to deposit their tokens in exchange for CVX tokens and great rewards. Curve makes trading possible by creating user-supplied crypto pools, which can generate fees on the crypto assets they have deposited. In exchange for blocking the CRV, they receive veCRV tokens. The more CRV users block and the longer they block, the higher the yields. They also get more power in terms of how the system is managed. Convex Finance encourages users to deposit CRV on their platform, promising higher returns than they would get by going directly to Curve. By acting as an intermediary to deposit and pool CRVs on behalf of their holders, Convex Finance can increase its domain and income.
Should I buy Convex Finance today?
Considering how difficult it is to get an accurate cryptocurrency forecast, you should never make any decisions that affect your finances before an in-depth market analysis. Don’t invest more than you can afford to lose.
Convex Finance Price Forecast
The Price Forecast predicts a low price of $37.26 next year, up from the current $20. It can go up to $44.47 with the average price of $38.32 throughout the year. The following year, Convex Finance will trade for at least $51.50, according to them. It can go up to $63.83 with the average trading price of $53.03. In 2025, 1 CVX is expected to trade for at least $75.92.
Convex Finance on social media
$CRV v2, Day 1$CVX $SPELL $T $FXS $FRAX $BADGER $INV $DOLA $RAI $YFI $ETH $BTC $USDT pic.twitter.com/YGeu3nQkgo
— Curve Market Cap (@CurveCap) January 20, 2022
