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How & Where to Buy Compound A Step-by-Step Guide to Buying comp

  1. Sign up at Gemini, the #1 rated comp exchange.
  2. Fund your account with cash or crypto.
  3. Buy Compoundcomp
  1. STEP 1Find the Best comp Exchange
    • 1486429286
      Ease of use
      Very Easy
      Time to 1st Buy
      10 min
      24h Volume
      $20,659,392
      Coins
      60

      Founded by the Winklevoss twins, who also conceived Facebook, Gemini is an ultra-convenient and incredibly legitimate platform that has gone through every level of financial scrutiny possible to be the most reliable cryptocurrency exchange in the US. Truly too legit to quit, this is one of the few exchanges where your funds are actually insured in case of theft. USD-only features most of the well-known cryptocurrencies.

    • binance.us logo
      Ease of use
      Easy
      Time to 1st Buy
      24 hrs
      24h Volume
      $27,986,487
      Coins
      66

      Founded in 2019 as the USA-focused branch of the Binance family of exchanges, Binance.US supports trading in over 50 cryptocurrencies and has the same industry standard low 0.1% fees as the original international Binance exchange. American users can buy crypto directly with a debit card, but Binance.US is not available in 7 states, including New York & Texas.

    • fLpdtiaZ
      Ease of use
      Easy
      Time to 1st Buy
      2 hrs
      24h Volume
      $
      Coins
      59

      No platform has been able to attract first-time cryptocurrency investors quite like Coinbase. Each quarter, millions of new users sign up and take advantage of the simplest and smoothest customer purchasing journey in the market. Coinbase also aims to educate beginners, paying them in crypto to learn about different projects.

    • kraken exchange
      Ease of use
      Very Easy
      Time to 1st Buy
      24h Volume
      $189,010,906
      Coins
      92

      A decade of security, honesty, and transparency has given San Francisco’s Kraken an impressive reputation and helped it become the fourth-largest cryptocurrency exchange in the business. The brokerage service offered by Kraken has more coins to buy and sell directly with cash than most of their competitors. In addition, debit and credit card purchases are permitted with comparably low fees. Well-suited for beginners and those who want to buy and hold coins long-term.

    • CEX.io Crypto Exchange
      Ease of use
      Very Easy
      Time to 1st Buy
      24h Volume
      $11,759,697
      Coins
      90

      British cryptocurrency exchange CEX.IO proves that good things come in small packages, with the lowest credit and debit card fees, and one of the best off-ramp processes in the industry. Deposit fees in GBP are given a 50% discount, making them ultra-appealing to UK traders. Founded in 2013, with over 4m registered accounts. Recently branched out to the US.

    Go to Gemini and create an account. In some cases, the exchange will need some personal information like email address, phone number, name, address, and a copy of your government ID or passport.

    This is completely normal and all exchanges we list on this page have security in place to protect your personal info.

  2. STEP 2Fund Your Account

    It is now time to add funds to your newly created exchange account. This will allow you to purchase Compound Compoundcomp quickly.

    Upon signing up at the exchange, you should be shown easy to follow instructions to buy comp with cash from your bank account or credit or debit card. Some exchanges also accept alternative funding methods such as Paypal, Apple Pay, Skrill, or Sofort by Klarna. You can also deposit any supported cryptocurrencies directly into your exchange account and trade them for comp.

Frequently Asked Questions About Buying & Selling Compound (comp)

How do I Buy comp with Crypto?

If you want to buy comp with a cryptocurrency like Bitcoin, Ethereum, Litecoin, XRP, or BNB, then you can simply sign up for Gemini and send your crypto to your account.

You can view the supported cryptocurrencies for the exchange you selected by going to the assets or wallet screen. Once you see a list of coins, you should be able to select one and click "deposit" which will show you the address to send your crypto to Gemini.

You will then copy that address and paste it into the wallet holding your cryptocurrency and send.

Depending on the blockchain used and how quickly the exchange processes deposits, your funds should show up in your exchange balance within minutes.

How do I sell Compound (comp)?

To sell comp, simply reverse the buying process described above. You will likely need to trade your Compoundcomp into a USD coin like usdtUSDT. Look for a "Sell" button in your account wallet and sell for Dollars, then initiate a transfer to your bank account. To withdraw cash to your bank, you will likely need to complete a full KYC (Know Your Customer) process if you haven't already.

Compound Research Center

Compound Technical Details & Statistics

Tokenomics
  • Market Rank91
  • Market Cap471,658,698
  • Circulating Supply7,119,014
  • Total Supply10,000,000 comp
  • Max Supply10,000,000
Yesterday's Trading
  • 24 HR Volume52,306,503 USD
  • Yesterday's High / Low---
  • Yesterday's Open / Close---
  • Yesterday's Change---
All Time Performance
  • All Time High---
  • All Time Low---

How and Where to Buy Compound (COMP)

Robert Leshner, CEO, and Geoffrey Hayes, CTO, co-founded Compound Labs in 2017. The Compound mainnet launched in September 2018, rapidly becoming popular, with a significant number of assets locked on the platform. 

Before founding Compound, Leshner co-founded a privacy-focused start-up company with Hayes. Safe Shepherd helped its customers identify how their personal data was used and advised how they could stop the exposure of private information.

What Is Compound (COMP)?

Compound is an algorithmic, autonomous interest rate protocol built for developers, to unlock a universe of open financial applications.” – Compound website. 

The lending protocol enables users to deposit cryptocurrencies and earn interest from distribution into a Compound pool. Users receive cTokens proportional to tokens in the pool, redeemable at any time to retrieve the original asset.

There are two types of cTokens: –

  • CErc20 – this cToken wraps an underlying ERC-20 asset
  • CEther – wraps Ether, for instance, if you deposit $ETH into a Compound pool, you receive cETH

To clarify, using $ETH as an example, if the price of $ETH rises, you can exchange your cTokens for more $ETH proportionate to the difference in price.

Borrowers can deposit collateral to receive a secured loan, with variable LTV (loan-to-value) ratios, depending on the collateral deposited, ranging from 50-75%. The loan, however, can be automatically liquidated if the collateral drops below a maintenance level.

What Makes Compound (COMP) Unique?

Most novice cryptocurrency investors buy their tokens and store them in a wallet or leave them on the exchange. They rely on price increases to make profits. Compound’s open lending platform encourages crypto investors to deposit ERC-20 tokens and earn interest from their holdings or take out a secured loan using their tokens as collateral.

Interest isn’t distributed. Each market has a “supply interest rate”, so by holding the cTokens, you continue to earn interest from the increasing price of the underlying asset.

$COMP, Compound’s native governance token, enables token holders to propose protocol changes. Users can vote and debate protocol suggestions of other $COMP token holders, such as how the protocol distributes $COMP tokens or new cryptocurrencies to support on Compound.

How and Where to Buy Compound (COMP)

There are vast numbers of cryptocurrency platforms on the Internet. Buying tokens can be confusing if you have never purchased cryptocurrency tokens before. It’s essential to find an exchange that is reliable, easy to use, with multiple payment options, a secure wallet and good customer service. Buying $COMP tokens need not be complicated if you choose the right platform, such as Binance, a global leader in the crypto space:

  1. Sign up for an account with Binance
  2. Upload the requested information and documents for KYC compliance
  3. Make sure you have a secure wallet to keep your $COMP tokens safe. You can download the Binance Trust Wallet to your mobile device
  4. Deposit funds with cryptocurrency, wire transfer, or use your Visa or Mastercard
  5. Select a comp pair from COMP/USDT, COMP/BUSD or COMP/BTC on the exchange
  6. Finally, transfer the $COMP tokens to your wallet

How do I Sell Compound (COMP)?

  1. Log in to the Trust Wallet app on your mobile or sign in to your Binance account online
  2. Locate $USDT on the “exchange” tab. Tether (USDT) is a popular stablecoin you can use to exchange for fiat currency
  3. Sell the $COMP for $USDT tokens and transfer them to an off-ramp platform. For the range of compatible fiat currencies, Coinbase is a reliable platform
  4. When the $USDT is in the off-ramp account, sell it for your chosen fiat currency and withdraw it to your bank account

Should I Buy Compound (COMP)?

Cryptocurrency investing is challenging for novice crypto enthusiasts, and unfortunately, we cannot advise on financial matters. Still, if the Compound protocol interests you and you’ve spent time learning about the potential highs and lows of the cryptocurrency market, you may be ready to invest in $COMP tokens for your portfolio. Three of the leading cryptocurrency exchanges that list Compound (COMP) are Binance, Coinbase and KuCoin.

How do I invest in Compound (COMP)? Safely?

All investment is speculative and the cryptocurrency market continues to grow exponentially. Speculative investing cannot be considered safe, but if you wish to invest in Compound (COMP), it’s best to do so with a trustworthy cryptocurrency platform that protects your funds and tokens as much as possible. The leading cryptocurrency exchanges typically have insurance to protect against cyber-hacking.

Binance is a trusted exchange with a wide range of services. Coinbase is a beginner-friendly platform that lists COMP/USD pairs and has a broad range of coins and markets. KuCoin, known as “The Peoples’ Exchange“, has custodial and non-custodial services, various payment options and lists COMP/USDT.