Buy Compound COMP Price Today, Live Charts and News

COMP is down -10.32% against Ethereum and down -12.08% against Bitcoin in the last 1 month. In the Coinsquare app, all currencies available to trade can be found in the drop down list.

If you need any help with trading Bitcoin for Compound Coin or using ZenGo for other trades and transactions, our professional support agents will be ready to help. We offer 24/7 customer support, with friendly and professional team members who will be happy to assist you. You can also read through the guides and resources in our Online Help Center to learn more about how ZenGo works. Swapping Bitcoin (BTC) for Compound Coin (COMP) is simple and stress-free with the secure ZenGo crypto wallet. An asset with a high collateral factor means it is a better form of collateral and typically a relatively liquid, large market capitalization asset.

With ZenGo, your digital investments are safe and secure, and you’re the only one who has access to them. Compound (COMP) is a decentralized, blockchain-based protocol running on the Ethereum network. Equipped with its own ERC-20 token, COMP, The Compound protocol works as a decentralized application that enables decentralized finance (DeFi) features directly on the Ethereum blockchain. Through the Compound protocol, users are able to either request loans or earn interest by lending cryptocurrencies they own – all through autonomous smart contracts.

Compound users can borrow directly through the finance compound finance protocol by specifying which assets they would like to borrow and this asset comes directly from that asset liquidity pool. The interest rate is affected by the amount of liquidity available in the pool. Users who want to borrow digital assets can do so directly with the protocol.

You can store COMP tokens in any cryptocurrency wallet that supports ERC-20 tokens on the Ethereum network. A hardware wallet is a device that connects directly to your phone or desktop computer and allows you to transfer your investments to offline storage. If you’ve ever used a USB drive to transfer files from your computer or an online file storage system to a portable device, you’re likely already familiar with how hardware wallets operate. Hardware wallets are sometimes referred to as “cold storage” options.

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Instead, holders can multiply their COMP tokens by borrowing and lending other cryptocurrencies via the Compound protocol. The way this works is that users can deposit different forms of cryptocurrency – including DAI, ETH, ZRX, USDC, and USDT – into lending pools. Borrowers can access those pools, and lenders earn interest on any deposits they’ve made. Compound Coin (COMP) is an Ethereum-based token that provides governance over the Compound protocol. A pair of entrepreneurs – Geoffrey Hayes and Robert Leshner – created COMP and founded Compound Labs back in 2017, raising $8.2 million in funding and launching the token the following year. In other words, COMP is a form of DeFi lending protocol that allows users to earn a certain level of interest on their cryptocurrency investments.

• The Web3-ready ZenGo crypto wallet can be used to buy, send, swap, and receive all kinds of cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, Chainlink, and Polygon.
• With ZenGo, your digital investments are safe and secure, and you’re the only one who has access to them.
• Sign up for an account in minutes to buy crypto using credit card or bank transfer.
• They don’t need to negotiate anything with a counterparty however do they need cryptocurrency as collateral before they are allowed to borrow.

The price began to rebound in March and reached $173.91 on 3 April, as the markets attempted to rebound. But another sell-off took the price back down to $117.48 on 11 April 2022. Investors should consider the investment objectives, risks, and charges and expenses of a mutual fund or ETF carefully before investing. A mutual fund or ETF prospectus contains this and other information and can be obtained by emailing Compound is a decentralized software which runs on the Ethereum mainnet. The DeFi project was developed with the intent to enable peer-2-peer borrowing and lending in the decentralized finance frontier.

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This guide is designed to teach you everything you need to know about the project and get you ready to jump into the most user-friendly trading experience available on the market. While countries around the world are slowly allowing the use of cryptocurrencies in their system, the legality status still varies. Click here to see which countries have legalised the use of cryptocurrency. Of course, no crypto platform is ever completely safe, so if you are going to use their platform, we advise you do your own research on this topic.

Trading cryptocurrencies and investing in digital assets can be exciting. However, this industry is still widely unregulated, and the majority of cryptocurrencies are very volatile, with values fluctuating on a regular basis. ZenGo protects your crypto investments while also providing you with access to Web3 and Dapps, but it does not offer any financial advice or recommendations. Make sure to always do your own research before making decisions about crypto investments. Compound is governed entirely on-chain by COMP holders where 1 token equals 1 vote.

If you are fairly new to cryptocurrencies you might still be struggling with the concept of private key and why it’s so important. Perhaps you just get into cryptocurrency by purchasing coins on an exchange platform but didn’t even realize that they hold the private keys to your cryptocurrency. If you do decide to hold onto your Compound governance tokens in the long-term, you’ll want to transfer your investment to your wallet as soon as possible to prevent the possibility of a hack. The direction of the COMP coin price will depend on price trends in the broader cryptocurrency markets, as well as the development and adoption of the Compound protocol. If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any trading decision.

Buy Compound in the world’s leading cryptocurrency via Coinmama with just a few clicks

Our solution lets you securely manage your Compound and more than 1800 different assets in one single app. There are currently about 7.2 million COMP tokens in circulation out of a maximum supply of 10 million. The coin then fell victim to the crypto crash that saw COMP drop to its all-time low of $26.52 on 18 June 2022. Like Ethereum, EOSIO is an open-source platform for the development of decentralized applications (dApps).

Bitcoin is a minable form of crypto, meaning that new coins can be mined by solving complex math problems, but it requires quite a lot of computing power to accomplish this. Bitcoin is also an open-source, public cryptocurrency, which means that anyone can get involved with it, and no business or entity owns or controls it. The Compound (COMP) protocol operates within the growing decentralized finance (DeFi) space. Utilising smart contracts, Compound enables borrowing and lending, without having to conduct through central financial authorities and intermediaries. Users of the platform loan crypto assets whilst staking their own supported crypto as collateral. This can be done instantly, without the arduous and prolonged credit checks that exist in the real world.

How to buy Compound Coin step by step guide

You can buy and sell COMP for any major cryptocurrency, like BTC, ETH, and XRP or traditional currency such as Canadian Dollar, US Dollar, and Euro. Trading cryptocurrencies is like foreign exchange of traditional currencies – you trade COMP for BTC the same way you trade CAD for USD. To learn how to buy Compound / COMP, scroll down to see how to buy Compound. It was first introduced in October of 2008 by Satoshi Nakamoto, a made-up name that may refer to an individual or a group. It is a digital decentralized currency, free of any regulation or control by banks and governments, and it can be sent from user to user via its own network without the need for any intermediaries.

As such, they may be better suited to storing larger amounts of COMP for more experienced users. You can sell your COMP tokens directly for fiat currencies like USD and EUR through exchanges like Coinbase and Kraken. If your exchange doesn’t list such a trading pair, you can first exchange your COMP for BTC or ETH and then sell those coins for fiat currency. You can get COMP tokens on a variety of different cryptocurrency exchanges. You can buy COMP on centralized exchanges like Binance and Coinbase, or decentralized exchanges like Uniswap and SushiSwap. Compound is one of the most famous DeFi lending platforms in the crypto market, and it is considered by many analysts to be a good long-term investment.

Once connected, you will see on the dashboard all available crypto available for borrowing and supplying. Keep in mind that you should already have some of the same tokens that you wish to lend or borrow. Around 2,880 COMP tokens are distributed to Compound users on a daily basis, with 50% of the daily distribution going to suppliers (lenders) and 50% going to borrowers. Any address with at least 1% of the COMP supply delegated to it is able to propose governance actions. A new proposal then goes through a voting period which last 3 days, and all users with voting power can either vote to support or reject the proposal. The threshold for a proposal being accepted is that the proposal has to have a majority of votes in support of it, provided there were at  least 400,000 COMP votes in favor.

Firstrade cryptocurrency platform allows customers to buy and sell cryptocurrency. Learn more about and check the most current cryptocurrency prices on Firstrade. The listed Compound ecosystem features are not available on Firstrade.

They don’t need to negotiate anything with a counterparty however do they need cryptocurrency as collateral before they are allowed to borrow. The beauty of this platform is that all you need to participate is a cryptocurrency wallet. This allows you to log into the compound finance DAPP without having to create a new account. ZenGo’s crypto wallet is the safest solution to store your digital assets like cryptocurrencies and NFTs. Your investments will be safe and secure with ZenGo, and you’ll have total control over your account, making it easy to send, receive, and swap cryptocurrencies whenever and wherever you like.

Compare other asset prices with Compound

Whether the COMP token is a suitable asset for you will depend on your risk tolerance and how much money you intend to trade. Compound offers lending pools where users can deposit their funds or borrow money using their crypto as collateral, enabling them to earn interest in return. Within each pool, lenders earn half the distribution and borrowers earn the other half. The Web3-ready ZenGo crypto wallet can be used to buy, send, swap, and receive all kinds of cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, Chainlink, and Polygon. Plus, ZenGo enables users to hold NFTs and access NFT marketplaces, such as OpenSea.

Past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. Firstrade is a discount broker that provides self-directed investors with brokerage services, and does not make recommendations or offer investment, financial, legal or tax advice. Compound Finance is a lending protocol that runs on the Ethereum blockchain. It seeks to be more frictionless, efficient, and decentralized than current financial money markets. The ZenGo wallet is 100% non-custodial, meaning that you have total control of your private keys. Plus, with a sleek and simple user interface, it’s easy to make trades, send, or receive crypto with minimal risk of error.

Upgrades and changes were made unilaterally by the Compound Labs team. The protocol was still non-custodial but there was a centralized entity that retained administrative privileges. In order to remove themselves from this position, the team introduced COMP, a token used to govern the protocol. After several stages, Compound is now fully controlled by COMP holders with no remaining privileges held by Compound Labs. Compound was primarily designed for the developers and to create a platform for financial applications.

It also acts as a Web3 gateway, giving you access to Metaverse gaming and decentralized finance with the aid of WalletConnect. Compound is a decentralized application (DApp) for borrowing and lending. To supply or lend, you deposit cryptoassets into a Compound pool and receive cTokens in return. These cTokens represent your stake in the pool and can be used to redeem, at any time, the underlying cryptoasset initially deposite. Being a crypto investor requires taking security seriously and owning your private keys gives you much more power and control.

• Buy, sell, trade, and use COMP and other cryptocurrencies in one safe and simple, but powerful app.
• If you do decide to invest in COMP, then make sure to only invest an amount of money you are willing to lose.
• The DeFi network has been noted for significant capital raising efforts in the past, dating as far back as 2018 when the network was initially started.
• The first group of users are lenders, who lend their crypto on the platform and earn interest as a reward.

Keep in mind that past performance is no guarantee of future returns. Token holders can delegate their voting rights to any wallet address. Wallets that hold at least 100 COMP tokens can create an autonomous proposal and wallets that hold 25,000 COMP are permitted to create governance proposals. Compound token holders can debate, submit and vote on proposals for changes to the protocol without the Compound team needing to be involved. This process can be used to determine which cryptocurrencies to support, and the various collateralisation factors and token distribution rules.

The main principle behind hardware wallets is to provide full isolation between the private keys and your easy-to-hack computer or smartphone. The only people you can trust cryptocurrency trading blog for storing your crypto assets is yourself. The SecuX W20 hardware wallet is an all-inclusive, secure option that you can use to store a wide range of cryptocurrencies.

This includes voting on Compound’s future interest rates and other decisions that may impact their revenue directly. Online wallets or web wallets are also free and easy to use, accessible from multiple devices using a web browser. They are considered hot wallets and can be less secure than hardware or software alternatives, however. As you are likely trusting the platform to manage your COMP, you should select a reputable service with a track record in security and custody.