How to Buy Curve DAO Token | Where, How and Why
Buying Curve tokens (CRV) has never been easier using CoinStats' built-in swap tool. The platform leverages its partnerships with decentralized exchange aggregators, such as 1inch and 0x, to provide users with the best exchange rate.
Curve Finance is an Automated Market Maker (AMM)-based decentralized exchange (DEX) that connects users interested in swapping stablecoins. The platform’s AMM enables users to trade stablecoins from a liquidity pool without needing to find buyers and sellers. The protocol ensures low fees and minimal slippage by identifying the ideal routes for exchange.
CRV is the Curve DeFi protocol’s native utility and governance token.
The total CRV supply is 3.03 billion tokens, of which 62% is distributed to liquidity providers. The remaining tokens are distributed as follows: 30% goes to shareholders, 3% – to company employees, and 5% – to a community reserve. The shareholder and employee allocations come with a two-year vesting schedule.
1. Sign Up for a CoinStats Account
Sign up for a CoinStats account if you don’t already have one, and verify your identity. Connect your digital wallet that supports Ethereum-based tokens, such as MetaMask or MyEtherWallet, to your CoinStats account.
2. Navigate to the CoinStats Swap
Navigate to the CoinStats Swap platform. After successfully linking your wallet, choose the token to swap by providing cryptocurrency or USD/EUR data.
3. Swap CRV
For example, we are swapping ETH for CRV. In the “From” field, select the ETH token from your wallet, and in the “To” field, select “CRV.”
Click on Advanced Options to change the slippage. When you’re finished customizing, scroll down to the bottom of your screen and tap the “Submit Swap” button.
Confirm
After you submit your swap request, you’ll be prompted to confirm it. To begin the swap, follow the instructions on the screen, review the information, and click “Confirm.”
NOTE: You will be charged Network Transaction fees also known as gas fees. This refers to the charge necessary to complete a transaction on the blockchain. In essence, gas fees are paid in the network’s native currency, i.e., ETH, for the Ethereum network. CoinStats charges a small swap fee in addition to the gas fees.
Once the transaction is completed, your CRV will be credited to your digital wallet, and you can track your CRV holdings in your CoinStats account.
If you don’t have any crypto yet, don’t fret! You can buy any large-cap cryptocurrency on CoinStats' buy crypto with bank card page and swap that crypto for CRV Network tokens.
Where Can I Buy Curve?
There are several ways to buy cryptocurrencies, each with advantages and disadvantages. We will explore five ways to buy cryptocurrencies: exchanges, cryptocurrency brokers, Bitcoin ATMs, stock companies holding crypto, and crypto ETFs.
Exchanges
Cryptocurrency exchanges are one of the most common ways to buy cryptocurrencies. A crypto exchange is a platform to buy and sell various cryptocurrencies, including Bitcoin, Ethereum, Curve, etc. Most exchanges match buyers and sellers, similar to a traditional stock exchange.
Note that we only mention centralized exchanges here, as decentralized exchanges currently offer no direct way of buying crypto (though they may use third parties).
To buy a cryptocurrency on an exchange, you typically need to create an account and verify your identity. You can then fund your account with fiat currency (such as USD, EUR, or your local currency) and use that balance to purchase the cryptocurrency of your choice. Some popular cryptocurrency exchanges include:
- Coinbase
- Binance
- Kraken
- Gemini
- KuCoin and more
- Low fees allow you to trade and stake a variety of crypto assets
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- Gemini Exchange makes it simple to explore the cryptocurrency market, purchase bitcoin, and other cryptocurrencies, and construct a portfolio for the future of money
- Set up recurring purchases and dynamic price notifications
- Cryptocurrencies stored online in Gemini's exchange wallet are protected; the company employs best-in-industry cold storage coverage with major insurance providers
- A secure and quick method to exchange cryptocurrency
- Several order types to accommodate different levels of risk tolerance
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- Invest in 250+ coins, including majors, altcoins, and stablecoins with 0 fees
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- Exchange cryptocurrency against other assets such as foreign currency and commodities
- Stake a variety of cryptocurrencies with competitive returns
Cryptocurrency Brokers
Cryptocurrency brokers are more like traditional brokers. They act as intermediaries between buyers and sellers and typically charge a commission or spread for their services. Brokers are an excellent place to start for crypto investors that want to diversify their portfolios and spread their investments in crypto, stocks, etc.
You typically need to create an account and pass the identity verification to use a broker. The broker will then quote you a price for the cryptocurrency you want to buy and execute the trade on your behalf. Some popular cryptocurrency brokers include
- eToro
- Robinhood
- SoFi Invest.
Crypto ATMs
Crypto ATMs are a relatively new way to buy cryptocurrencies. ATMs allow you to buy Bitcoin or other cryptocurrencies with cash or a debit card. They instantly connect you to a cryptocurrency exchange and execute the trade on your behalf.
However, you must have a cryptocurrency wallet to use a crypto ATM. Also, ATMs support limited cryptocurrencies, so you must convert your newly-bought crypto into the one you want if the cryptocurrency you choose isn’t supported.
Stock Companies Holding Crypto
Investing in stock companies that hold cryptocurrency is an amazing way to invest in cryptocurrencies indirectly. Numerous companies hold significant amounts of cryptocurrency on their balance sheets, such as MicroStrategy and Tesla, with billion-worth of investments in Bitcoin.
To invest, you must open a brokerage account, pass identity verification, deposit funds, and purchase the stock on a stock exchange.
However, it's important to note that by investing in these stocks, you reduce your exposure to the crypto market and accept risks related to the company and the stock market as a whole.
Crypto ETFs
Crypto exchange-traded funds ( ETFs) enable you to invest in a diversified portfolio of cryptocurrencies directly on the stock market without the hassle of managing individual coins.
Crypto ETFs provide exposure to the cryptocurrency market while diversifying risk among different cryptos.
To invest in a crypto ETF, you must go through the entire process of opening a brokerage account first. If you aim to create a diversified portfolio and spread out your risk, then ETFs might just be the right option. However, ETFs are not suitable for investing in a single cryptocurrency.
Other Ways to Buy Curve (CRV) Tokens
Follow our step-by-step buying guide below to buy CRV tokens:
Step #1: Select a Crypto Exchange
Choose a cryptocurrency exchange that supports both the fiat currency of your choice and CRV to ease the process. Additionally, ensure to consider the exchange's transaction fees, as they differ from exchange to exchange. Some popular crypto exchanges include Binance, Coinbase, Kraken, and KuCoin.
Also, consider whether the cryptocurrency exchange is regulated by the Financial Industry Regulatory Authority (FINRA) and allows you to buy crypto using your preferred payment method.
Step #2: Create an Account
After you've chosen a cryptocurrency exchange that fulfills all your criteria, the following step is to register with the exchange using a valid email or mobile number. A link will be sent to your address, and you must click it to verify your account. Once the account is activated, you must create an elaborate password, and you’re good to go.
Some exchanges have strict KYC and AML requirements, and in order to get verified, you must provide personal information such as:
- Full name
- Residential address
- Date of Birth
- ID Document.
In some cases, you might also need to upload a selfie or undergo video verification to finalize the verification process.
Once your identity verification is complete, it’s recommended to activate two-factor authentication (2FA) for an extra layer of security.
Step #3: Deposit Funds
The next step is to deposit funds into your account. Many crypto exchanges support fiat currencies like USD, EUR, or your local fiat currency. Simply select your preferred deposit method, such as a bank transfer, wire transfer, credit or debit card, e-wallets, PayPal, etc., and the currency you wish to deposit. Tap on “Deposit Funds,” enter the amount you want to deposit and click “Deposit.”
Some deposit methods are extremely fast, while others, depending on the amount, require confirmation from authorities. Remember to evaluate the fees of different deposit methods since some have larger fees than others.
- Credit or Debit Card
Linking your debit card to your crypto account is advantageous as it lets you make instant or recurring purchases, but be aware that it attracts an additional fee.
- Bank Account
It's usually free to make a bank transfer from your local bank accounts, but you should still double-check with your exchange.
- Cryptocurrency
CRV can be traded for another cryptocurrency or a stablecoin; the trading pairs vary between exchanges. So, you must search for CRV on the spot market to select a pair from the list of available trading pairs.
Step #4: Buy CRV
Follow the steps below to place a market order to buy Curve (CRV) tokens instantly at the current market price:
- Click the search bar, enter CRV, and select “Buy CRV” or the equivalent.
- Select a trading pair you wish to buy CRV against.
- Choose the payment method and the currency you wish to use, and input the amount of CRV or the fiat amount to be spent. Most exchanges automatically convert the amount to show you how many CRV tokens you’ll get.
- Double-check the transaction details and click “Confirm.”
- The CRV tokens will be displayed in your balance once the transaction is processed.
You can also place a limit order indicating you want to buy CRV at or below a specific price point. Your broker will ask you the number of coins you wish to acquire and the maximum price you're ready to pay for each once you've placed an order. The coins will only appear in your wallet if your broker fulfills your order at or below your requested pricing. The broker may cancel your order at the end of the day or leave it open if the price exceeds your limit.
If you're planning to keep your newly purchased coins for an extended period, we highly recommend securely storing them in a hardware wallet.
To trade CRV on spot markets, go to the Trade page and search for the CRV pairs (CRV/USD or CRV/USDT). Select the trading pair and check the price chart. Click "Buy CRV," select the "Market," enter your amount or choose what portion of your deposit you'd like to spend by clicking on the percentage buttons. Confirm and click "Buy CRV."
Congratulations on adding Curve (CRV) tokens to your crypto portfolio!
Step #5 (Optional): Store CRV
While your CRV tokens can be stored in your brokerage exchange wallet, experts highly recommend storing your precious coins away from exchange wallets, as those might be susceptible to hacks and interference.
We highly recommend creating a private wallet with your own set of keys. Depending on your investing preferences, you might choose between software and hardware wallets:
Software Wallets
If you’re looking to trade CRV regularly, software or hot wallets provided by your selected crypto exchange will suit you. The strength of software wallets lies in their flexibility and ease of use. A software wallet is the most easy-to-set-up crypto wallet and lets you easily interact with several decentralized finance (DeFi) applications. However, these wallets are vulnerable to security leaks because they're hosted online. So, to keep your private keys in a software wallet, conduct due diligence before choosing one to avoid security issues. We recommend a platform that offers 2-factor authentication as an extra layer of security.
Examples of software wallets include CoinStats Wallet, MetaMask, Coinbase Wallet, Trust Wallet, and Edge Wallet, amongst others.
Hardware Wallets
Hardware or cold wallets are usually considered the safest way to store your cryptocurrencies as they offer offline storage, thereby significantly reducing the risks of a hack. They are secured by a pin and will erase all information after many failed attempts, preventing physical theft. Hardware wallets also let you sign and confirm transactions on the blockchain, giving you an extra layer of protection against cyber attacks. These are more suitable for experienced users who own large amounts of tokens.
Ledger hardware wallets are arguably the most secure hardware wallets letting you securely manage your digital assets. The Nano X is designed for advanced users and offers more storage space and advanced features than Ledger Nano S, designed for crypto beginners.
A hardware wallet is more expensive than a hot wallet, with prices ranging between $50 - $200.
Examples of cold wallets are Trezor Model T, Ledger Nano X, CoolWallet Pro, KeepKey, Ellipal Titan, and SafePal S1, amongst others.
Step #6 (Bonus Step): Track CRV Tokens
The crypto market is volatile, and managing your portfolio could get tricky if you hold multiple assets. Utilizing a portfolio tracker will help you keep track of your CRV tokens and all your crypto investments from one platform at all times. CoinStats offers one of the best crypto portfolio trackers in the market.
You can also monitor the profit, loss, and liquidity of CRV across several exchanges on CoinStats.
CoinStats supports over 300 cryptocurrency exchanges and over 20,000 cryptocurrencies. It offers charting tools, analytical data, advanced search features, and up-to-date news. Here you have the opportunity to connect an unlimited number of portfolios (wallets and exchanges), including
- Binance
- MetaMask
- Trust Wallet
- Coinbase
- Kraken
- Kucoin
- Bitstamp, and 300 others.
To connect, go to the CoinStats Portfolio Tracker page and:
- Click Add Portfolio and Connect Wallet.
- Click the wallet you want to connect to (e.g., Ethereum Wallet).
- Input the wallet address and press Submit.
What Makes Curve Unique?
Curve.fi is a popular DeFi exchange thanks to its technology and technical capacity. The AMM operating model enables cryptocurrencies to be swapped using liquidity pools instead of having buyers and sellers. The system enables minimal slippage and low fees by finding the best routes for users’ swap requests. Moreover, it ensures investors avoid volatile crypto assets while still earning high-interest rates from lending protocols by focusing on stablecoins.
CRV is Curve Finance’s native utility and governance token used for governance, LP rewards, boosting yields, and token burns. By locking up CRV tokens, users vote on Curve DEX protocol decisions, such as DEX operations, fee structure modification, burning schedules, the creation of new liquidity pools, etc., and propose protocol updates. The longer the CRV token is locked up, the more voting power token holders have.
Liquidity Providers get CRV tokens as pool rewards and incentives based on their pool share's size. You can buy or earn CRV when depositing assets into a liquidity pool.
Curve DAO Token Price Prediction and Price Movement
Curve DAO daily trading volumes stood around $110 million in early February 2023.
Additionally, Curve DAO provides a wide range of services, such as yield farming and liquidity mining. As discussed earlier, it takes crypto volatility out of the picture, as stablecoins are less susceptible to market fluctuations.
The CRV price has been on the rise in 2023, with both the fundamental and technical metrics signaling a strong uptrend. If the trend continues, users might expect a return to the previous highs of $2.4.
NOTE: Stablecoins are not immune to liquidity issues, as demonstrated by the Terra implosion earlier this year. We highly recommend traders consider the risks before investing in Curve DAO or any other crypto asset.
Conclusion
Curve DAO has established its place in the crypto ecosystem by enabling stablecoin trading. The Curve DAO token is the platform’s utility and governance token.
Hopefully, this review gave you a clearer understanding of what Curve is and how to buy Curve DAO tokens.
Disclaimer: The information contained on this website is provided to you solely for informational purposes and does not constitute a recommendation by CoinStats to buy, sell, or hold any security, financial product, or instrument mentioned in the content, nor does it constitute investment advice, financial advice, trading advice, or any other type of advice. This is not a recommendation to employ a particular investment strategy.
Cryptocurrencies are speculative, complex, and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable, and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice before relying on this information. Cryptocurrency is a highly volatile market, do your independent research and 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.
There are significant risks involved in trading CFDs, stocks, and cryptocurrencies. You should consider your own circumstances and take the time to explore all your options before making any investment.
Read more: https://coinstats.app/blog/how-to-buy-crv/
Text source: CoinStats Blog
