How to Buy Curve DAO Token (CRV)
Beginner’s Guide
What Is Curve (CRV)?
Curve (CRV) is an Ethereum-based decentralized finance (DeFi) platform that enables users to exchange stablecoins with low fees and minimal slippage. It was launched in August 2020 and has since become a popular DeFi platform, with over $10 billion in total value locked (TVL) as of February 2023.
The platform is designed to facilitate the trading of stablecoins by utilizing an automated market maker (AMM) algorithm to ensure that liquidity is always available for trading. CRV is the native governance token of the Curve platform, and its holders have the ability to vote on proposals related to the platform’s development and operation.
Curve’s unique features include:
- Low slippage: Curve’s AMM algorithm is optimized for stablecoin trading, which minimizes slippage, making it an attractive option for traders.
- Low fees: Curve’s fees are among the lowest in the DeFi space, making it a cost-effective option for exchanging stablecoins.
- Decentralized governance: CRV token holders have a say in the governance of the Curve platform, which makes it a community-driven project.
CRV can be bought and sold on various cryptocurrency exchanges, and it can be stored in a wide range of cryptocurrency wallets that support ERC-20 tokens.
How to Buy Curve DAO Token Summary
- Get a Curve DAO Token wallet (e.g. Ledger, Trezor , Exodus, Guarda, AtomicWallet)
- Find an exchange that sells Curve DAO Token (e.g. , Binance ,MEXC, Gate , Bitfinex , Kucoin)
- Deposit money and make the trade
- Withdraw the Curve DAO Token to your wallet
Buying Curve ¤DAO Token in 3 Simple Steps
Step 1 – Get a CRV wallet
Curve DAO Token Hardware Wallets
Curve DAO Token (CRV) is an ERC-20 token that can be stored in any Ethereum-compatible wallet. As a result, you can store your CRV in a range of hardware wallets that support Ethereum and ERC-20 tokens.
Some popular hardware wallets that support CRV include:
- Ledger Nano S and Ledger Nano X
- Trezor One and Trezor Model T
- KeepKey
- Ledger Blue
Using a hardware wallet to store your CRV provides an extra layer of security, as it keeps your private keys offline and protected from potential hacking attempts. It also ensures that you maintain control over your funds, even if your computer or mobile device is compromised.
To store your CRV in a hardware wallet, simply connect your device to your computer or mobile device, access your Ethereum-compatible wallet app, and follow the instructions for sending and receiving CRV. Be sure to keep your recovery seed phrase in a safe and secure location, as this is the only way to recover your funds if you lose access to your hardware wallet.
The best option for storing any cryptocurrency would be to use a hardware wallet. These are pieces of hardware that store the private key to your coins offline.
Today, there are two leading hardware manufacturers to choose from – Ledger and TREZOR. Both companies have different models of hardware wallets that will get the job done.
If you want deeper insights on specific models, you can read my Ledger Nano X review or my TREZOR Model T review.
Curve DAO Token Software Wallets
Curve DAO Token (CRV) is an ERC-20 token, which means it can be stored in any Ethereum-compatible wallet. There are several software wallets that support ERC-20 tokens and are capable of storing CRV.
Some popular software wallets that support CRV include:
- MyEtherWallet
- MetaMask
- Trust Wallet
- Exodus
- Atomic Wallet
Using a software wallet to store your CRV allows for convenient access to your funds from any device with an internet connection. However, it’s important to remember that software wallets are typically more vulnerable to hacking attempts compared to hardware wallets. As such, it’s important to take the necessary precautions to keep your funds safe, such as enabling two-factor authentication and keeping your private keys secure.
To store your CRV in a software wallet, simply create a wallet on the platform of your choice, then transfer your CRV from your exchange account or another wallet to your newly created software wallet address. Be sure to keep your private key and recovery seed phrase safe and secure, as this is the only way to regain access to your funds if you lose or forget your login credentials.
Hardware wallets cost money, so if you’re not sure how serious you are about cryptocurrencies and just want to get a taste of what they feel like, perhaps you would be better off starting with a software wallet.
A software wallet is a free program that lets you store your coins on your computer or mobile phone.
The easiest Curve DAO Token software wallets to get started with are undoubtedly Exodus, Atomic Wallet and Guarda . All wallets are very intuitive. Exodus, Atomic Wallet and Guarda is available on desktop for Windows, Mac and Linux, as well as on mobile for both iOS and Android. If you want more information you can read my Exodus, AtomicWallet and Guarda review.
Step 2 – Find an Curve DAO Token (CRV) Exchange
Buy Curve DAO Token through Binance
- Binance is a cryptocurrency exchange which is the largest exchange in the world in terms of daily trading volume of cryptocurrencies. It was founded in 2017 and is registered in the Cayman Islands. Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software.
Buy Curve DAO Token through MEXC
- Founded in 2018, MEXC Global is known as the exchange of high performance and mega transaction matching technology. The team at MEXC Global are some of the first movers and pioneers of financial and blockchain technology. Currently, MEXC Global caters to 10 M+ users in more than 170 countries around the world and we have just started.
Buy Curve DAO Token through Gate.io
- Gate.io is a crypto exchange founded in the fall of 2017. The platform is a part of Gate Technology Inc corporation, and has a registration address in Virginia, USA. The platform does not have an official license. Its interface is available for working in three versions: English, Chinese and Japanese.
Buy Curve DAO Token through Bitfinex
- Bitfinex is a cryptocurrency exchange owned and operated by iFinex Inc registered in the British Virgin Islands.Their customers’ money has been stolen or lost in several incidents, and they have been unable to secure normal banking relationships.Bitfinex was founded in December 2012 as a peer-to-peer Bitcoin exchange, offering digital asset trading services to users around the world. Bitfinex initially started as a P2P margin lending platform for Bitcoin and later added support for more cryptocurrencies.
Buy Curve DAO Token through Kucoin
- Kucoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges and already has over 8 million registered users from 700+ countries and regions. According to Alexa traffic ranking, KuCoin’s monthly unique ranking is in the top 5 globally. Known as the “People’s Exchange”, KuCoin operates in Seychelles, providing users with multi-language and 24/7 customer service. Meanwhile, KuCoin has established local communities all over the world in South Korea, Japan, Spain, Italy, Vietnam, Turkey, Russia, India, and other regions, providing users with the most local services. Currently, 1 out of every 4 crypto holders in the world is with KuCoin.
Step 3 – Withdraw Your Curve DAO Token
Once you decide on an exchange, open an account and buy your Curve DAO Token . Make sure to withdraw the Curve DAO Token from the exchange to your personal wallet.Never leave coins on an exchange, as you risk losing them all if that exchange gets hacked or shuts down (which has happened in the past) and always double check address before send coins because you can send the coins to wrong address .
Overview
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 is a decentralized finance (DeFi) platform that is designed specifically for stablecoin trading. Here are some of the unique features that set Curve apart from other DeFi platforms:
Low slippage: Curve uses an automated market maker (AMM) algorithm that is optimized for stablecoin trading. This helps to minimize price slippage, making it an attractive option for traders.
Low fees: Curve’s fees are among the lowest in the DeFi space. This makes it a cost-effective option for exchanging stablecoins, which are designed to maintain a stable value.
Decentralized governance: Curve is a community-driven project, with CRV token holders having a say in the governance of the platform. This ensures that the platform is constantly evolving and improving to meet the needs of its users.
Liquidity pools: Curve allows users to participate in liquidity pools, which provide liquidity for the platform’s automated market maker. By contributing to a liquidity pool, users can earn rewards in the form of CRV tokens.
Interoperability: Curve is designed to be interoperable with other DeFi protocols and platforms. This means that users can easily exchange stablecoins between different platforms, increasing liquidity and minimizing price slippage.
Overall, Curve’s focus on stablecoin trading, low fees, decentralized governance, and interoperability make it a unique and attractive option for DeFi users.
How Many Curve (CRV) Coins Are There in Circulation?
Curve (CRV) launched in August 2020, along with the Curve DAO. Its purpose is to function as a governance medium, incentive structure and fee payment method, along with long-term earnings method for liquidity providers.
The total CRV supply is 3.03 billion tokens, the majority of which (62%) are distributed to liquidity providers. The remainder is divided as follows: 30% to shareholders, 3% to employees and 5% to a community reserve. The shareholder and employee allocations come with a two-year vesting schedule.
CRV had no premine, and the gradual unlocking of tokens means that around 750 million should be in circulation one year after launch.
How Is the Curve Network Secured?
Curve carries the standard risks associated with depositing funds in smart contracts and dealing with AMMs, namely impermanent loss.
As Curve only supports stablecoins, the risk of markets moving too quickly is reduced, but users can still lose money once markets are rebalanced to reflect cross-market prices.
Curve has been audited, but this does not do anything to counter the risks involved in being exposed to a specific cryptocurrency.