How to Buy Civic Crypto (CVC)

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Contributor, Benzinga
May 13, 2021
verified by Logan Ross

Want to jump straight to the answer? You can buy CVC on Binance and FTX.

Identity verification on blockchain technology is no longer a dream with the Civic platform. 

Users can verify their identity and share personal information with trusted companies. The Civic platform also enables customers to send and receive money securely. 

Learn how you can invest and buy Civic crypto (CVC) today.

Disclosure: ²Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards. ³Crypto rewards is an optional Coinbase offer. Upon purchase of USDC, you will be automatically opted in to rewards. If you’d like to opt out or learn more about rewards, you can click here. The rewards rate is subject to change and can vary by region. Customers will be able to see the latest applicable rates directly within their accounts

What is Civic Crypto (CVC)?

The Civic coin is an ERC-20 token, meaning it uses the Ethereum blockchain. Traders who use the Civic app or platform to carry out transactions use the CVC to pay for the transactions. In other words, the CVC token is a means of settlement for identity-based transactions.

Brief History of CVC

The Civic project was founded in 2015 by renowned entrepreneur and e-commerce industry expert Vinny Lingham. It was formed in a bid to create a decentralized identification platform allowing users flexibility in control of their personally identifiable information (PII). 

The idea is that by using a distributed, cryptographically secured database, users can have considerable control of who has access to their data and how such data is stored. This eliminates identity theft, as well as increasing identity access in areas government services, are lacking. CVC token raised $33 million during its launch in 2017.

The platform is poised to gain popularity with time as the team behind it looks at a wider set of applications other than banking and credit like travel documentation and web credential. 

In early January 2021, Civic announced the launch of the Civic health key as a way of securely verifying proof of COVID-19 vaccination status. Consumers and small businesses may begin using COVID Health Key in spring 2021.

Steps to Buy Civic Crypto

  1. Open an online account.

    The first step is to choose the broker you want to buy your coin from and then register. Two of the best exchanges that offer CVC are Binance and FTX To open an account with a broker, you simply need to complete a signup and email verification processes. You can only make purchases after registration and verification.

  2. Buy a wallet (optional). 

    After opening an account with a trusted broker or exchange, you can then proceed to buy a wallet. Although most brokers give users wallets that allow them to store coins, these wallets are highly limited, and it can be better to get a separate wallet.

  3. Make your purchase.

    You can either buy CVC through a limit order or a market buy. 

    A market buy order enables you to set an order to buy at the current market price at the transaction time. For example, If the current price for CVC is $0.375 and I place a market buy order, I will get it instantly at that price as long as the price does not change before the order is executed.

    A limit buy order allows you to specify the price you want to make the purchase, and the order is only executed when that price is reached. After identifying which of the order best suits you, you can buy the coin directly with your local currency or exchange a popular cryptocurrency like Bitcoin for CVC.

    To buy directly with local currency outside the U.S.: If you are outside the U.S. and in CoinDirect supported countries, you can buy CVC directly with your local currency on the Coindirect platform.

    To buy from major cryptocurrencies outside the U.S.: If your exchange does not allow you to purchase CVC directly with local currencies, you can buy major cryptos like Bitcoin or Ethereum and then exchange for CVC. Binance, Coinbase and Bitdegree are examples of popular exchanges to consider.

    To buy CVC in the U.S.: To buy a CVC in the U.S., you need to first open and register an account with a broker or exchange. Then you can buy Bitcoin and exchange it with CVC if your broker doesn’t allow direct purchase of CVC. Examples of popular exchanges in the U.S. are Coinbase, KuCoin, CoinSwitch and more. After your purchase, you can move your coins to your wallet.

Where You Can Buy Civic Crypto

Where You Can Store Civic Crypto

Choose a software or hardware wallet.

Trezor
Best For
  • Crypto enthusiasts
securely through Trezor's website

Best Hardware Wallet: Trezor One

A hardware wallet is usually the best choice because it’s offline, so it doesn’t store your information on the web or with a 3rd party. This ensures greater privacy and security.

The Trezor One is a hardware wallet that supports CVC coins. The Trezor One, a top choice among crypto traders, remains one of the world’s most trusted hardware wallets and supports several cryptocurrencies and tokens.

Coinbase
Best For
  • Coinbase Learn
securely through Coinbase's website

Best Software Wallet: Coinbase

A software wallet offers ease of convenience, giving you online access to your private keys. Coinbase provides a secure online wallet to store your CVC and other digital assets.

Trade, Sell or Convert your Civic Crypto (CVC)

While crypto trading encompasses buying and selling cryptocurrencies while betting on price movement, selling is merely exchanging your crypto for money. Sellers are mostly concerned with spotting a good exit price to sell. This implies the price that is remarkably higher than the purchase price. 

Traders specifically speculate on price movement intending to profit from the price difference.

Current Crypto Prices

If you hope to buy or sell crypto or tokens, take a look at the current market rates.

Is Civic Crypto a Good Investment?

The Civic platform has become appealing to both old and new traders. It’s storage of data locally using encryption keys and biometrics gives it control over the data and eliminates the risk involved in holding the data in a central database. 

Its simplicity, accessibility and insurance will likely pull more customers to the platform. Civic crypto is inarguably a good investment opportunity for all types of crypto traders, but it still faces stiff competition from popular apps like Cash App.

Do your research and decide if Civic is the right investment for you.

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