How To Buy Curve DAO Token (CRV)?

A common question you often see on social media from crypto beginners is “Where can I buy Curve DAO Token?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process. Thanks to its massive popularity, you can now buy Curve DAO Token on most cryptocurrency exchanges, including Coinbase and Binance in 3 simple steps.

Step 1: Create an account on an exchange that supports Curve DAO Token (CRV)

First, you will need to open an account on a cryptocurrency exchange that supports Curve DAO Token (CRV).
We recommend the following based on functionality, reputation, security, support and fees:

In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.

Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.

Step 2: Deposit funds into your account

Many cryptocurrency exchanges will allow you to purchase Curve DAO Token (CRV) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.

Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.

Step 3: Buy Curve DAO Token (CRV)

This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for Curve DAO Token (CRV) or Curve DAO Token (CRV) trading pairs. Look for the section that will allow you to buy Curve DAO Token (CRV), and enter the amount of the cryptocurrency that you want to spend for Curve DAO Token (CRV) or the amount of fiat currency that you want to spend towards buying Curve DAO Token (CRV). The exchange will then calculate the equivalent amount of Curve DAO Token (CRV) based on the current market rate.

Note: Make sure to always double-check your transaction details, such as the amount of Curve DAO Token (CRV) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.

For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out. 

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What Is Curve DAO Token (CRV)?

The Curve DAO officially launched in August 2020. The DAO will allow liquidity providers to take decisions on adding new pools, changing pool parameters, adding CRV incentives and many other aspects of the Curve protocol.

The easiest way to understand Curve is to see it as an exchange. Its main goal is to let users and other decentralised protocols exchange stablecoins (DAI to USDC for example) through it with low fees and low slippage. Unlike exchanges out there that match a buyer and a seller, the behaviour of Curve is different, it uses liquidity pools like Uniswap. To achieve this, Curve needs liquidity (tokens) which is rewarded by those who provide it.

Curve is non-custodial meaning the Curve developers do not have access to your tokens.

Stablecoins have become an inherent part of cryptocurrency for a long time, but they now come in many different flavors (DAI, TUSD, sUSD, bUSD, USDC and so on) which means there is a much bigger need for crypto users to move from a stable coin to another. Centralized exchanges tend to have high fees which are problematic for those trying to move from a stable coin to another. As a result, Curve.fi has become the best place to exchange stable coins because of its low fees and low slippage.

How does Curve.fi achieve such high APRs?

Every time someone makes a trade on Curve.fi, liquidity providers (people who have deposited funds onto Curve) get a small fee split evenly between all providers, this is why you will see high APRs on days with high volume and high volatility.

But there is more, the liquidity pools are also supplied to lending protocols like Compound (for cPool) in the background, so you get extra interests on top of the trading fees. The y pools (all the pools using yTokens: PAX, Y and BUSD) use a protocol called iEarn explained below.

It’s important to note that because fees are dependant on volume, daily APRs can often be quite low just like they can be very high.

Some pools (sUSD, ren and sbtc) do not use any lending protocols. So, if you’re wondering where those returns come from, the short answer is trading fees and interests (for the pools using lending protocols).

What is the y in the y pools (also what is iEarn)?

iEarn is a yield aggregator. You might think that Compound doesn’t always have the best lending rates and you would be right and thus the yToken balances automatically your stable coin to the protocol(s) with the better rates (Compound, Aave and dYdX). It’s free and non-custodial (as is Curve) but it is also why the yPools are considered more risky as you use a series of protocols that could themselves have critical vulnerabilities.

What are incentivised pools?

Liquidity pools (particularly ones without an opportunity cost) are a great way to help stable coins keep their pegs. It makes easy for traders to arbitrage when the price slips off the peg which is very important for all the companies and foundations developing stable coins as having a $0.98 stable coin is never a good look.

As a result, some pools on Curve are “incentivised”. That means that on top of trading fees and lending fees, the companies will give rewards to people providing liquidity to the pools with their coins.

Who Are the Founders of Curve?

The founder and CEO of Curve is Michael Egorov, a Russian scientist who has various experience with cryptocurrency-related enterprises. In 2015, he co-founded and became CTO of NuCypher, a cryptocurrency business building privacy-preserving infrastructure and protocols. Egorov is also the founder of decentralized bank and loans network LoanCoin.

Curve’s regular team is part of the CRV allocation structure and will receive tokens according to a two-year vesting schedule as part of the initial launch plan.

In August 2020, Egorov said that he “overreacted” by locking up a large amount of CRV tokens as a response to yearn.finance’s voting power, awarding himself 71% of governance in the process.

What Makes Curve Unique?

Curve has gained considerable attention by following its remit as an AMM specifically for stablecoin trading.

The launch of the DAO and CRV token brought in further profitability, given CRV’s use for governance, as it is awarded to users based on liquidity commitment and length of ownership. The explosion in DeFi trading has ensured Curve’s longevity, with AMMs turning over huge amounts of liquidity and associated user profits.

As such, Curve caters to anyone involved in DeFi activities such as yield farming and liquidity mining, as well as those looking to maximize returns without risk by holding notionally non-volatile stablecoins.

The platform makes money by charging a modest fee which is paid to liquidity providers.

Curve DAO development updates in 2023

Curve DAO has been notable for its contributions and developments in the decentralized finance (DeFi) sector in 2023. Here’s an overview of the most significant developments:

• Decentralized Governance through CRV Tokens: Curve DAO’s governance is facilitated by its native token, CRV. Token holders can participate in the governance by submitting and voting on proposals. The more CRV tokens a holder locks up, the more voting power they gain through veCRV tokens. Accepted proposals can lead to major modifications in the protocol, such as changes in trading fees, inflation rate, gauge weights, and more. This system empowers CRV holders with significant control over the decentralized exchange’s economics and development, making the process more democratic and decentralized.

• Incentives for Liquidity Providers: Curve uses a liquidity mining program to encourage the provision of liquidity. Liquidity providers earn LP tokens by staking their cryptocurrency holdings in Curve pools. Staking these LP tokens in ‘gauges’ makes them eligible to participate in trading fee and CRV emission economies of the DAO. Governance determines a weekly allocation of CRV emissions for each gauge, influencing the profits for token holders. This mechanism aims to ensure optimal liquidity provision within the Curve ecosystem.

• Launch of Algorithmic Stablecoin crvUSD: A significant move in 2023 was the successful launch of Curve’s algorithmic stablecoin, crvUSD, on the Ethereum network. This launch marked a pivotal step in Curve’s journey towards offering stable and efficient trading of stablecoins without intermediaries, aiming for minimal slippage and optimal pricing for users. The introduction of crvUSD also highlighted Curve’s commitment to expanding its suite of financial instruments within the DeFi space.

• Market Performance and Projections: The CRV token has shown varying market performance. Despite some downsides, there have been periods of bullish trends. Technical analysis suggests that the price of Curve DAO token (CRV) has been relatively stable after a period of volatility, indicating a moderately bullish outlook. Future price predictions for CRV range from conservative estimates to more optimistic projections, suggesting potential growth in the coming years.

These updates and developments reflect Curve DAO’s ongoing efforts to enhance its platform and contribute to the broader DeFi ecosystem. By focusing on decentralized governance, incentivizing liquidity provision, expanding its financial instruments, and maintaining a stable market performance, Curve DAO continues to be a key player in the DeFi space.

Official website: https://curve.fi/

Best cryptocurrency wallet for Curve DAO Token (CRV)

There are plenty of different crypto wallets available. The best one for you depends on your general trading habits and which provides the most security in your situation. There are two main types of wallets: hot storage wallets (digital) and cold storage or hardware wallets (physical). Both have their pros and cons, and there is not necessarily a right or wrong answer when it comes to figuring out which crypto wallet is best for you.

HOW DO I DECIDE WHICH cryptocurrency WALLET TO USE for Curve DAO Token (CRV)?

Deciding which type of wallet to use depends on a variety of factors, including:

• How often you trade. In general, hot wallets are better for more active cryptocurrency traders. Quick login ability means you are only a few clicks and taps away from buying and selling crypto. Cold wallets are better suited for those looking to make less frequent trades. 
• What you want to trade. As mentioned earlier, not all wallets support all types of cryptocurrencies. However, some of the best crypto wallets have the power to trade hundreds of different currencies, providing more of a one-size-fits-all experience.
• Your peace of mind. For those worried about hacking, having a physical cold wallet stored in a safe deposit box at the bank or somewhere at home, provides the safest, most secure option. Others might be confident in their ability to keep their hot wallets secure.
• How much it costs. It is important to investigate the costs associated with each wallet. Many hot wallets will be free to set up. Meanwhile, cold wallets, like any piece of hardware, will cost money to purchase.
• What it can do. While the basics of each cryptocurrency wallet are the same, additional features can help set them apart. This is especially true of hot wallets, many of which come with advanced reporting features, insights into the crypto market, the ability to convert cryptocurrencies and more. Security features can also be a good differentiator.

For a more in-depth overview of cryptocurrency wallets visit our “Cryptocurrency Wallets Explained” guide.

If you’re going to be dealing in larger volumes of crypto, investing in cold storage might prove advantageous.
Most widespead examples of this being the Ledger Nano and the Trezor.

Ledger manufactures cold storage wallets designed for users who want increased security. Their wallets are a physical device that connects to your computer. Only when the device is connected can you send your cryptocurrency from it. Ledger offers a variety of products, such as the Ledger Nano S and the Ledger Nano X (a bluetooth connected hardware wallet).

Trezor is a pioneering hardware wallet company. The combination of world-class security with an intuitive interface and compatibility with other desktop wallets, makes it ideal for beginners and experts alike. The company has gained a lot of the Bitcoin community’s respect over the years. Trezor offers two main models – The Trezor One and Trezor Model T (which has a built in touch screen).