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An in-depth guide on the best way to lend COMP.
We have a lot of data on lending Compound and we share some of this with you.
We show you some lending options with other coins that could be of interest.
Compound (COMP) is currently priced at $57.67, with a 24-hour trading volume of $38.61M. In the last 24 hours, Compound has seen an increase to 1.05. The market cap of Compound stands at $448.35M, with 8.11M in circulation. For those looking to buy or trade Compound, reputable platforms like Binance, BTSE, Kraken, YouHodler, Nexo and Coinbase offer avenues to do so securely and efficiently.
Lending Compound can be a great option for those who want to hold COMP but earn yield. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.
In order to lend Compound, you need to have it. To obtain Compound, you’ll need to purchase it. You can choose from these popular exchanges.
Once you have COMP, you’ll need to choose a Compound lending platform to lend your tokens. You can see some options here.
Once you’ve chosen a platform to lending your Compound, transfer your Compound into your wallet in the lending platform. Once it’s deposited, it will start earning interest. Some platforms pay interest daily, while others are weekly, or monthly.
Now all you need to do is sit back while your crypto earns interest. The more you deposit, the more interest you can earn. Try to make sure your lending platform pays compounding interest to maximise your returns.
Lending your crypto can be risky. Make sure you do your research before depositing your crypto. Don’t lend more than you’re willing to lose. Check their lending practices, reviews, and how they secure your cryptocurrency.
