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How to buy Convex Finance (CVX) in New Zealand
Learn how to buy Convex Finance (CVX) on 7+ crypto exchanges in our step-by-step guide.
You can buy Convex Finance (CVX) on a cryptocurrency exchange like FTX. These specialised marketplaces that allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms.
Simply put, Convex Finance is a DeFi protocol that has been built atop Curve, a stablecoin-centric trading ecosystem. Here's how to buy Convex Finance.
How to buy Convex Finance in 4 easy steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
- Compare crypto exchangesThe easiest way to buy Convex Finance is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
- Create an account To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
- Make a depositOnce verified, you can deposit $ using the payment method that best suits you – credit card, wire transfer, silvergate exchange network (sen) and signature signet payments are widely accepted.
- Buy Convex Finance You can now exchange your funds for Convex Finance. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your Convex Finance to your personal wallet.
Where to buy Convex Finance in New Zealand
Find an exchange to buy, sell and trade CVX by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How do I find the best places to buy Convex Finance?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in New Zealand to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy Convex Finance?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Convex Finance.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing CVX with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
Where can I buy Convex Finance with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy CVX with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are popular deposit methods to buy CVX on the following exchanges:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase CVX by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for CVX on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Convex Finance?
The easiest way to buy CVX is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying CVX, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of Convex Finance has been performing recently.
Best Convex Finance wallets to store your CVX
You can keep your CVX on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can learn more about wallets and compare them with our comprehensive guide.
Is Convex Finance a good investment?
CVX is the base crypto asset that is used to facilitate a host of internal processes related to the Convex Finance ecosystem. Here are a few key aspects to consider before investing in the platform:
- Ease of availability: Unlike a host of DeFi tokens that are not easily available, CVX can be purchased quite easily. According to CoinmarketcapCoinmarketcap the asset is currently being traded across a host of prominent exchanges including Binance, OKX, Bitget, Huobi Global and Mandala Exchange.
- Massive incentives available:The longer the duration a user locks in his/her CRV (Curve Finance) tokens, the more veCRV they are able to accrue as rewards. These coins provide users with tangible financial incentives such as 50% of the platform’s native trading fees as well as affords them voting rights. If that wasn’t enough, it allows users to increase their liquidity provision benefits by a factor of 2.5 times (depending upon the total volume of tokens held by them).
- Minimal fees:As per data available online,onlineConvex Finance deploys a unique fee-related strategy wherein unlike other ecosystems that require users to shell out a hefty trading fees to cover for any gas charges, Convex does not have any withdrawal fees. Instead, it provides users (i.e. CRV owners as well as liquidity suppliers) with the option of accruing rewards via the platform’s native cryptocurrency ‘CVX’.
Additional information about Convex Finance can be found using our CVX analysis tools.
Today's Convex Finance price versus ATH
Compare today's price of Convex Finance ($5.77 USD) against its all-time-high price of $60.09 USD on 01 January 2022. The closer the bar is to 100%, the closer CVX is to reaching its ATH again.
ATH date: January 01, 2022
Convex Finance ATH: $60.09
How to trade, convert or sell Convex FinanceYou can convert or sell your CVX with the same exchange you bought it through:
- Sign in to the exchange you have CVX on.
- If you store your Convex Finance in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of CVX you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Convex Finance.
- Complete your transaction and move your CVX to a wallet for storage.
Disclaimer: Cryptocurrencies, including Convex Finance, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of CVX is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Convex Finance or any other cryptocurrency discussed.
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