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How to buy Cream (CREAM)
A beginner's guide to buying and selling CREAM in the US.
How to buy Cream
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Cream.
- Open an account on an exchange that supports CREAM.
Most exchanges require an email address, phone number and proof of ID to register.
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Cream.
- Buy Cream.
Complete your Cream purchase and then find the best wallet to store CREAM.
What is Cream?
Cream Finance is a DeFi protocol built on the Ethereum blockchain. The protocol supports lending and borrowing, liquidity mining, exchange, payment, asset tokenization, governance and various Automated Market Maker (AMM) protocols (DEX and DEX-like services).
CREAM is the native token of the Cream Finance protocol, which is used as a governance token. Like Compound Finance from which it was forked, Cream Finance incentivizes users by rewarding them with CREAM tokens for both lending and borrowing. When you lend crypto to the liquidity pool, you will receive interest depending on the demand and supply of the asset and be rewarded with CREAM tokens for your contribution.
CREAM tokens provide users with governance rights to have a say on the direction and development of the protocol. The blockchain-agnostic protocol first launched on Ethereum as a P2P lending platform and was subsequently ported to the Binance Smart Chain (BSC).
Cream (CREAM) is the 399th largest cryptocurrency in the world by market cap, valued at $92,052,592. The current price of Cream is $133.560, which is -13.030% lower than yesterday. Prices have ranged between $156.610 and $112.740 over the past 24 hours. All prices are listed in US dollars and accurate as of April 19, 2021 07:04 UTC.
Where to buy Cream
Unfortunately at this time no major exchanges offer Cream. However, you may be able to purchase CREAM with another cryptocurrency, just be sure you're following all legal restrictions and requirements.
Instead of buying Cream, consider buying a different cryptocurrency after comparing popular exchanges.
Cream coin priceUse our graph to track the performance of CREAM over time.
Cream at a glance
|Total CREAM supply||9,000,000|
|All time high||US$374.100|
|All time high date||February 04, 2021|
Cream price performance over time
How to sell Cream
You can cash out your CREAM with the same exchange you bought it through:
- Sign in to the exchange you have CREAM on.
If you store your Cream in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of CREAM you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Cream.
What to consider when buying Cream
Consider the following before purchasing CREAM as part of your portfolio:
- Transparency: CREAM was founded by Jeffrey Huang – a serial entrepreneur, who also founded Mithril (MITH), a social media platform on Ethereum.
The core team consists of four people including the founder and three developers with extensive computer science backgrounds. Besides being prominent members in the crypto space, the team has been transparent in its conduct since the beginning publishing all updates and announcements regularly on their Medium including changes made to its protocol and their liquidity mining distribution. The team is also quite responsive on social media to address people’s queries.
- Supply: According to CoinMarketCap, at the time of writing (April 2021), there are over 616,378 coins in circulation. The maximum supply is capped at nearly 2.92 million tokens. Although CREAM was recently launched in August 2020, it already has approximately $338m in total value locked (TVL) at the time of writing (6 April 2021).
- Security: In February 2021, Cream Finance was exploited in a flash loan attackfor roughly $24m, losing about 13,000 ETH to hackers. Following the hack, the price of the native token, CREAM, dropped by about 30% within minutes leaving users agitated.
- Risk of Liquidation: In order to borrow on Cream Finance, you must first deposit cryptocurrency whose value in USD terms is greater than the amount of borrowing. The crypto asset deposited acts as a collateral and at present, the user is allowed to borrow only 60% of the USD value of the crypto asset deposited.
The platform does not require any KYC or credit checks for borrowing and has no time limit on loan payback. However, if the value of the crypto asset placed as collateral falls by more than 60% of the borrowed amount in USD terms, the collateral can be liquidated to other users of the platform.
- Yearn.finance deal: Yearn finance has teamed up with Cream to launch Cream v2 which would serve as a focused lending product with a list of bluechip tokens accepted as collateral. However, the token economics and governance of Cream would continue to be the same.
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