Key Takeaways
- MORPHO is the governance token of the Morpho protocol that gives holders voting rights on major decisions;
- The Morpho protocol is a decentralized crypto lending and borrowing platform that uses isolated permissionless markets;
- You can buy MORPHO on popular exchanges like Kraken, Bybit, and KuCoin.
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Have you ever wished there was a safer, more flexible solution to yield farming? If so, you’re in luck – the Morpho project promises exactly that. So, in this guide, I’ll show you how to buy MORPHO, the protocol’s governance token, and tell you more about this platform.
Even though the saying “practice makes perfect” applies to buying crypto, too, each token has its own nuances that should be accounted for. Which is why, in this article, I won't just answer the question, "What is MORPHO crypto?” but also explore the ins and outs of purchasing it on three top-rated centralized exchanges: Kraken, Bybit, and KuCoin.
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Table of Contents
Where to Buy MORPHO?
First things first – before teaching you how to buy MORPHO, it’s worth exploring where to buy it from. After all, there are hundreds of crypto exchanges out there, all competing for our attention and wallets. With this guide, you can rest easy knowing I’ve researched the best options so you can have your pick.
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Here are my recommendations for the best centralized exchanges for buying and trading MORPHO:
- Kraken is one of the most popular global exchanges, operating in 190+ countries. It offers 360+ cryptocurrencies, competitive fees, and advanced trading options like margin and derivatives trading.
- Bybit is famous for its multiple rewards and earning programs, and a high selection of 1,900+ coins and tokens. It boasts top-notch security measures and a wide range of trading options.
- KuCoin, another household name in the CEX scene, supports over 900 cryptocurrencies, flexible earning options, and a variety of payment methods. It has spot and margin trading, as well as trading bots.
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| Beginners | More Advanced Users | Best for Buying & Selling Crypto with Small Fees | |
| United States, Germany, United Kingdom, France, Canada, + 190 more | South Korea, United Kingdom, Ukraine, Turkey, +160 more | United Kingdom, India, Russia, Mexico, + 150 more | |
| All Kraken Coupons | See All Coupons of Best Exchanges | See All Coupons of Best Exchanges | |
| One of the best crypto exchanges, especially in the US. | A popular crypto derivatives exchange with some super-low trading fees. | A reliable and well-established cryptocurrency exchange platform. | |
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Table: A comparison of Kraken, Bybit, and KuCoin
Each of these options has its own strong points or shortcomings when it comes to buying MORPHO (I’ll delve into that later in their respective sections), but at the end of the day, these are all highly secure and reliable platforms, so no matter which one you end up with, you’re unlikely to be disappointed.
📚 Read More: Best Cryptocurrency Exchange
How to Buy MORPHO
Let's go through each platform step by step.
How to Buy MORPHO on Kraken
Kraken is one of the most successful global crypto exchanges out there, with a long track record of safe and reliable services. It offers three ways of how to buy MORPHO: by purchasing it directly, converting another token to MORPHO, or buying it on the spot trading market.
Via "Buy Crypto"
Let’s start with the most direct option of buying MORPHO instantly with fiat currency. Here’s how to do it:
The available deposit method may vary depending on the currency you choose. For example, you can deposit EUR via a manual bank transfer or Etana Custody.
It might take a few seconds or a couple of minutes at most for your MORPHO tokens to show up in your account. By the way, be sure to check the associated fees before finalizing your purchase to avoid any unexpected charges.
Via "Convert"
If you prefer buying crypto using other tokens, Kraken has got you covered, too. Let me teach you how to buy MORPHO on Kraken by converting it from another cryptocurrency:
The token will appear in your wallet short after.
Via the Spot Market
Finally, there’s the spot trading option. Kraken has two available trading pairs: MORPHO/USD and MORPHO/EUR (unfortunately, there are no crypto or stablecoin trading pairs for this asset). Let’s give it a try:
That’s it! You’ll see your order on the Open Orders tab on the bottom panel.
📚 Read More: Kraken Review
How to Buy MORPHO on Bybit
Bybit is another worthy alternative to explore. It’s known for its competitive fees, flexible earning programs, and plenty of rewards and promotions to earn some passive income. You’ll find three different ways of buying MORPHO on this platform.
Keep in mind that Bybit is not available in certain jurisdictions. Make sure your country of residence is not on the platform's list of restricted countries before using it.
Via "One-Click Buy"
Bybit features a convenient and user-friendly instant crypto-buying interface to guide you along the way, but still, let me show you the details of how to buy MORPHO on Bybit with fiat currency:
Proceed with the further steps and make the payment. Once you do, MORPHO will appear in your wallet.
Via "Convert"
If you’d rather buy this token with another crypto, Bybit lets you do that, too. Follow these instructions to convert another coin or token to MORPHO:
You might have to wait a couple of minutes for the transaction to go through.
Via the Spot Market
Last but not least, let’s explore how to buy MORPHO on Bybit’s spot trading market. Bybit only has one trading pair, MORPHO/USDT, so you won’t be dealing with any choice paralysis here. On the other hand, this platform has one of the highest trading volumes for this token out of all centralized exchanges ($2.25 million per 24th).
Follow these steps and try it out for yourself:
Here you go! You’ll see your order under the [Open Orders] tab in the panel at the bottom.
📚 Read More: Bybit Review
How to Buy MORPHO on KuCoin
KuCoin is a slightly less flexible option for buying MORPHO as it only offers two ways – conversion and spot trading – but it’s still a highly secure and user-friendly exchange, so let's check it out.
Via "Convert"
The quickest and simplest way to buy MORPHO on KuCoin is by converting another crypto asset. Here’s how to use this feature:
You can deposit crypto or fiat into your KuCoin account by going to [Assets] > [Deposit].
The conversion will be made with zero fees. Therefore, if you already have any other cryptocurrency on KuCoin, this might be the most cost-effective way to acquire MORPHO.
Via the Spot Market
Now, let's find out how to buy MORPHO on this platform using its spot trading platform. Like Bybit, KuCoin offers only one trading pair: MORPHO/USDT. Here’s the tutorial you can follow:
You can track your order in the Open Orders panel at the bottom.
📚 Read More: KuCoin Review
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Key Factors to Consider Before Buying MORPHO
At this point, you’re probably eager to take the plunge and get your hands on some MORPHO to see for yourself, but it never hurts to address a few common concerns and potential challenges you might come across. Here’s a handy checklist to go through before you commit:
- Regional Availability. When choosing the exchange, make sure it’s available in your country (bonus points if it allows buying and trading crypto with your local fiat currency).
- Security Measures. Always prioritize exchanges that put safety first. Don’t settle for anything less than the standard package of KYC, 2FA, anti-phishing tools, multi-factor authentication, and advanced encryption.
- Fees. Examine the exchange’s trading fee structure. If you plan to trade frequently, consider platforms that offer a tiered structure with discounts for high-volume traders or additional fee discounts as rewards.
- Liquidity. Consider an exchange that has a high trading volume for MORPHO, such as Bybit, so that you can complete your orders quickly and efficiently without much slippage or unexpected price fluctuations.[1]
- Customer Support. Look for a platform that offers reliable customer support and has a lot of positive user reviews. Look out for exchanges that have a lot of user complaints, particularly ones regarding deposits and withdrawals.
- Market Volatility. Keep in mind that crypto prices fluctuate all the time, especially for less established tokens like MORPHO. Monitor the price movements on reliable crypto trackers before making a purchase and read up on experts’ predictions (but don’t trust them blindly).
- Roadmap and Development. The answer to the question, "What is MORPHO crypto?" is continuous. Read up on MORPHO’s roadmap and consider its future development to gauge how its value will change in time and whether it would make for a good long-term investment.
- Storage. It’s never too late to upgrade your crypto wallet setup. If you want to keep your MORPHO tokens as safe as possible, consider investing in a hardware wallet like Ledger or Trezor or a self-custodial software wallet, such as Binance Web3 Wallet.
The bottom line is that crypto trading can never be 100% risk-free, but you’ll certainly save yourself a lot of trouble if you take these tips to heart and practice some common-sense precautions.
📚 Read More: Best Cryptocurrency Wallet
What is MORPHO? An Overview
Now that you’re familiar with all the options of how to buy MORPHO, you’re probably eager to learn a little more about where this token comes from. What is the MORPHO crypto, exactly, and how does it work?
“Morpho” is both the name of the blockchain protocol and its native governance token, but the token's name is typically capitalized.
Now, let's dive deeper into what the protocol does and how the native token helps achieve the project's vision.
The Morpho Protocol
The Morpho protocol, created by Morpho Labs, is a decentralized, non-custodial crypto borrowing and lending platform developed for the Ethereum Virtual Machine (EVM).
Morpho’s main selling point is its isolated permissionless market system. Unlike traditional lending platforms, such as Aave or Compound, that use one shared liquidity pool for each asset (meaning that both borrowers and lenders of that particular coin deposit into or withdraw from the same pool), Morpho has implemented a system of separate, isolated markets.
Users can supply their assets to a market as collateral, borrow assets against that collateral, and earn or pay interest based on market activity.
These markets are permissionless and completely independent of Morpho’s governance: any user can create and deploy their own market on-chain without having to get the company’s approval. All they need to do is define these five parameters that each Morpho market needs to have:
- Collateral Asset: The asset users deposit to secure their loans.
- Loan Asset: The asset that users borrow.
- Liquidation Loan-To-Value (LLTV): The maximum amount a user can borrow against their collateral before liquidation risk.
- Oracle: The external price feed used for valuing collateral and borrowed assets.
- Interest Rate Model (IRM): The formula that dictates how interest rates adjust based on market demand.
Let me give you a more concrete example of how this works. Let’s say you hold a lot of wstETH and want to borrow USDC without selling your ETH. In your case, it would pay off to create a high Loan-To-Value ratio market with reliable price feeds and dynamic interest rates based on utilization.
So you’d have to put down wstETH as your market’s Collateral Asset and USDC as your Loan Asset. Next up, you might want to establish a high LLTV of 94.5% to maximize borrowing power and extract as much liquidity as possible from your holdings. After that, you could select Chainlink (a decentralized blockchain oracle network supported by Morpho Governance) to access reliable price feeds between wstETH and USDC.
Finally, you’d have to pick AdaptiveCurveIRM as your Interest Rate Model (IRM). This is currently the only available IRM on Morpho, and the way it operates is by changing interest rates in real-time, depending on how busy a market is.
In a nutshell, the more people are borrowing, the higher the rates, which incentivizes more lending and discourages further borrowing.
What you’d get in the end is basically your own custom market, tailor-made for your individual needs and risk tolerance level, instead of being forced to compromise and settle for a shared, ready-made market.
If someone else sees your market and realizes it’s exactly what they’ve been looking for, they can join in, too. As another extra layer of trust and safety, the parameters can’t be changed later.
This isolated market system gives users a ton of flexibility and reduces the risks.[2] Issues like liquidation events, bad debt, or oracle failures are contained within a single market and won’t affect your assets in another one, and high-powered traders can enjoy higher LLTV without system-wide risks.
What’s more, the Morpho protocol is really efficient.
The protocol consists of only 650 lines of Solidity code!
According to the developers, it has 50% lower gas consumption than other existing lending platforms. As of writing, here’s what the Morpho protocol has achieved so far:
Total Deposits | $5.3 billion |
Active Loans | $1.88 billion |
Total Value Locked | $3.41 billion |
Table: Morpho protocol statistics (as of June 4, 2025)
On top of that, there are vaults, another core component of the Morpho protocol. They act as an automated layer on top of markets to optimize capital efficiency and risk management for users.
I’ve already covered the benefits of the Morpho markets, but let’s face it – it’s a pretty high-commitment solution that requires a lot of monitoring to find the best market to deposit your assets into.
If you’re a lender who prefers a more hands-off approach, instead of manually choosing and keeping an eye on individual markets, you can simply deposit into a vault that will automatically distribute your funds across multiple markets to optimize yields and reduce the risk.
Vaults have their own set of rules that control how they allocate assets (they can be based on interest rates, utilization, safety score, or other custom formulas) or what triggers the change in how assets are distributed.
As you’ve probably guessed, vault creation is just as permissionless – anyone can start their own depository. Aside from the owner, vaults also have to have:
- Curator: Responsible for enabling or disabling certain Morpho markets and modifying the supply cap;
- Allocator(s): Responsible for rebalancing the assets across markets;
- Guardian: Responsible for protecting the interests of vault depositors.
Just like Morpho markets, vaults are designed to be transparent and predictable, meaning that once a vault is created, all of its parameters are locked in. That way, bad-faith actors can’t use bait-and-switch tactics to trick users into losing their funds.
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MORPHO Token
Enough about the protocol itself, though – since you came here to learn how to buy MORPHO, it’s only fair to tell you more about this token itself.
As I already mentioned, MORPHO is the official governance token of the Morpho protocol. It gives holders the right to influence the future direction of the platform, such as:
- Future initiatives to grow the Morpho protocol;
- Deployment and ownership of Morpho smart contracts;
- Turning on/off the fee switch built into the Morpho smart contracts.
The Morpho DAO (made up of MORPHO holders and delegators) governs the Morpho protocol. It uses a weighted voting system in which the number of MORPHO tokens you hold determines your voting power.
When the MORPHO token was initially launched, it was intentionally deployed as non-transferable – it couldn't be bought, sold, or moved between accounts, effectively preventing any trading activities. That way, the DAO retained complete control over MORPHO’s distribution.
At the start of November 2024, however, the DAO voted to enable transferability and opened the token up to a wider audience. That said, here are some basic facts about the MORPHO token to help you understand it better:
Type | ERC-20 |
Launch Date | June 24, 2022 |
Maximum Supply | 1 billion |
Circulating Supply | 282.07 million |
Market Cap | $395.85 million |
Table: MORPHO tokenomics (as of June 4, 2025)
On November 10, 2024, a new, wrapped version of the token was created to enable on-chain vote tracking functionality.
At the start of 2025, the MORPHO price enjoyed a relative high of $3.5 and reached an all-time high of $4.17 on January 17. Unfortunately, the peak didn’t last long: by February, the token dipped to $1.86 (but didn’t surpass its all-time low of $0.7 on November 25, 2024). The MORPHO price rose again in the second half of the month and then continued to fall. As of June 4, 2025, it’s priced at around $1.40.
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Conclusions
Hopefully, by now, you've learned how to buy MORPHO and understand the foundations of this protocol.
Since MORPHO is a governance token, if you decide to buy it, it’s worth digging deeper into the protocol itself and getting involved in the community. Morpho offers a unique way to borrow or lend crypto using an efficient isolated market system and vaults that automatically distribute funds across different markets, so you won’t have to monitor them all manually.
The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.
Scientific References
1. Hasan M., Naeem M. A., Arif M., Shahzad S. J. H., Vo X. V.: 'Liquidity connectedness in cryptocurrency market';
2. Mikhaylov A.: 'Understanding the risks associated with wallets, depository services, trading, lending, and borrowing in the crypto space'.
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