In this guide you’ll get information about where to buy PowerPool, if you are planning to buy CVP token – You’re in the right place!
PowerPool is created as a lending protocol designed for governance tokens, like AKRO, BZRX, YFI, LEND, BAL, COMP, and others. For now, the platform has become one of the hottest trends in cryptocurrency world, but the platform is also able to serve pooling for other governance tokens within Ethereum ecosystem. The platform is almost similar to Compound’s nature – using a simple and straightforward lending model. Every holder is able to provide liquidity to the (smart) contracts. They can also obtain interest rate when there is a request or demand about it. Anyone within the market should be able to borrow money as long as they use their digital assets for collateral.
For further development, the platform wants to add DAI, wBTC, and ETH for collaterals (for governance tokens’ borrowing process). In terms of borrowing and lending mechanism, governance token itself has unique assets. They don’t have constant utility when compared to payment tokens like stablecoins, but it doesn’t mean that they are worthless.
Table of Contents
PowerPool (CVP) Features
- Farming influence. Users would be able to get extra governance token from their holdings. It will result in continually growing stake (from the user) because the interest rate would be paid within the same governance token.
- Voters apathy solution. The platform offers yield as incentives, which will likely motivate passive (token) holders to pool their token within the PowerPool platform. When demand increases, the token would take part in voting that will increase entire vote capitalization. When demand decreases, tokens are able to take part in the vote although nobody borrows them.
- Voting power accumulation. The voting power of minority token holders would be considered useless even though they are distributed across platforms. However, such a power can be harnessed and then concentrated within one place through PowerPool. In fact, it can be a real and true force within protocol governance.
- Concentrated Voting Power (CVP). The system enables protocol governance could be transmitted to liquidity providers and active community.
Where to Buy, Sell and Trade PowerPool aka CVP
You can basically use debit card, credit card, or even PayPal to buy the PowerPool (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the PowerPool as the exchange.
With cryptocurrency, things are different. You need to use debit card or credit card to buy Tether first. After you get the ETH or BTC or USDT, you can convert it to PowerPool. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.
In general, the process would be:
- You go to the online exchange and buy the Ethereum (ETH), Bitcoin (BTC), or Tether (USDT)
- Find a crypto exchange that supports PowerPool currency and exchange your Ethereum / Bitcoin / Tether with the PowerPool
- Store your PowerPool to a secured wallet
Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) or Tether (USDT) at Coinbase
There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.
Get $10 Bonus when you sign up for Coinbase!
- You will be asked to through the process of confirming your e-mail address as well as verifying your identity. It would be best if you went through that procedure at once to avoid any issues before putting money on the platform. Coinbase will ask for personal information such as your home phone number, your address, and proof of your identity using an official document such as a passport or a driver’s license.
- Keep in mind that Coinbase takes some time to verify your ID, but once your account is verified, things can move forward on your end. By confirming your identity, you will have better security on your account, and the people working at Coinbase will be able to help you with easy on any issue you face. You will also be able to trade larger numbers of money on your transactions as well as other perks related to the trading information the goes inside the platform.
- You can also manage your payment options. As we mentioned previously, the sites make it very easy to handle FIAT money to pay for the altcoins you want to have in your portfolio. You can check in your bank account to make direct deposits or withdrawals. While this method is excellent, it takes at least two days to verify it on Coinbase’s end. You can also register your credit cards, debit cards, and even your PayPal account in the buy/sell link located on the top menu.
That’s the first step in buying PowerPool, once you get your Bitcoin or Ethereum or Tether, you can continue to the next step.
Step 2: Choosing the Best Cryptocurrency Exchange for Your Investments
After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH or USDT from your Coinbase wallet.
With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.
These are the best exchanges we can recommend for you to exchange BTC or ETH or USDT with PowerPool:
IMPORTANT! Once you are registered to any of the above, find the CVP/BTC or CVP/ETH or CVP/USDT trading pair and then place the order to buy those pairing cryptocurrencies. Go back to COINBASE and transfer/exchange your Bitcoin/Ethereum/Tether
Step 3: Managing Your Crypto Assets in a Secure Wallet
As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.
You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.
There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.
For Securing your PowerPool (CVP) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor
LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.
- Mobile Friendly
- Easy to Manage
- Supported Coins: 1200+
TREZOR MODEL-T: The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.
- Invented for your digital independence
- keeps your keys safe
- Easily back up your entire wallet
- Supported Coins: 1093+
Frequently Asked Questions (Faqs)
Can I Buy PowerPool (CVP) with PayPal?
You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the PowerPool. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy PowerPool (CVP) with Cash?
You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:
- Make sure you have a BTC / ETH wallet before you buy from seller
- Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.
Can I Buy PowerPool (CVP) with Skrill?
You can’t buy CVP directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to PowerPool. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy PowerPool (CVP) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair CVP/BTC and begin the transactions.
Can I Buy PowerPool (CVP) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support CVP/ETH trading pair.
What Is the Best Payment Method to Buy PowerPool (CVP)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the PowerPool right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect PowerPool (CVP)?
Once you have purchased the PowerPool, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell PowerPool (CVP)?
Find a crypto exchange which allow pairing CVP with BTC or ETH or USDT – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine PowerPool (CVP) and Not Buying It?
You can’t mine this actually. It has a completely different network and structure than the regular Bitcoin. The only way to own a PowerPool is to buy it from a reliable exchange.
There are not many platforms that would focus on borrowing and lending activities, and PowerPool even focuses on governance tokens. The mechanism is direct, straight, and basically simple, and it shouldn’t present issue to anyone. Those who want to get passive income can always take part in the liquidity pool in order to get interest. This is a platform that may be appealing to investors, but in order to join, they need to buy PowerPool (CVP) first.