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Table Of Contents
Wrapped Centrifuge (wCFG) is an Ethereum based token pegged to to Centrifuge (CFG) – an asset native to the Polkadot network. The purpose of wCFG is to provide holders with exposure to the price activity of its underlying CFG, while maintaining the functionality of the Ethereum network, and the plethora of dApps which run atop it.
Like most wrapped tokens, wCFG are representative of CFG tokens on a 1:1 basis. As mentioned, the underlying CFG are native to the Polkdot network, and function as the governance token of Centrifuge – a protocol built for the tokenization of real-world assets, and various other DeFi applications.
In their original form, CFG provide holders with the ability to not only take part in protocol governance, but staking, and various reward-based incentives. When converted to wCFG, holders retain exposure to the pricing of CFG while gaining the ability to take part in Ethereum based dApps. It is important to note however, that by converting to wCFG, holders effectively suspend the various abilities associated with CFG.
As wCFG are pegged to CFG on a 1:1 basis, these tokens can be converted between one another seamlessly, requiring only transaction fees to be covered.
To learn more, make sure to visit our Investing in Wrapped Centrifuge (CFG) guide.
We list the top 3 exchanges that offer the ability to buy Wrapped Centrifuge (wCFG) cryptocurrency with a credit card, debit card, or Bitcoin (BTC).
A top exchange in the United States & UK, Uphold is an experienced and extremely innovative trading platform that should be able to meet your needs for trading across a number of cryptocurrencies including Wrapped Centrifuge (wCFG). Beyond the ease of use and innovative features within the trading platform, what stands out about Uphold is the credibility it has gained in the industry.
Uphold offers both a desktop and mobile app trading experience that is extremely intuitive. The trading view is completely customizable with the assets that you trade the most, and is very easy to navigate while providing a modern feel on both desktop and mobile. It is a very popular and suitable choice, particularly for new traders.
Besides being visibly appealing, the Uphold trading platform allows you to place your trades with great ease. Just a couple of clicks and you can make trades directly from your deposit method without even having to wait for funds to clear to your account. This one-step ordering is another innovation from a company which prides itself on the usability of its platform. Uphold also provides the ability to execute limit orders.
Germany & Netherland residents are prohibited.
Uphold Disclaimer: Assets available on Uphold are subject to region. All investments and trading are risky and may result in the loss of capital. Cryptoassets are largely unregulated and are therefore not subject to protection.
KuCoin is a well-known name in the industry, and one of the most competitive when it comes to fees and trading costs. The exchange has grown exponentially from its early days of offering only crypto to crypto trading. It now offers a varied range of services including a P2P exchange capability, and purchasing with credit or debit cards.
KuCoin currently offers Wrapped Centrifuge (wCFG) cryptocurrency trading as well as over 300 other popular tokens. It is often the first to offer buying opportunities for new tokens.
This exchange currently accepts USA residents.
Founded in 2014, Gemini is a centralized digital asset exchange. In the time since, Gemini has gone on to become one of the most trusted platforms of its kind, boasting licensure by the New York Department of Financial Services (NYDFS).
Gemini offers various services, ranging from credit cards to trading, loans, interest bearing accounts, and more. Gemini provides users with access to 7 FIAT currencies, and over 75 digital assets – including Wrapped Centrifuge (wCFG).
This exchange currently accepts both Canadian and U.S. residents.
Daniel is a big proponent of how blockchain will eventually disrupt big finance. He breathes technology and lives to try new gadgets.
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