How to Lend Compound (COMP) in Australia: A Step-by-Step Guide

Introduction

Lending Compound can be a great option for those who want to hold COMP while earning yield. The steps may seem a bit daunting, especially the first time you do them. That's why we've put this guide together for you.

Step-by-Step Guide

1. Obtain Compound (COMP) Tokens
To lend Compound, you need to possess it. To acquire Compound, you'll need to buy it. You can select from these popular exchanges.
Platform Coin Cost
Nexo Compound (COMP) 26.34
PrimeXBT Compound (COMP) 26.19
YouHodler Compound (COMP) 26.25
Binance Compound (COMP) 26.25
BTSE Compound (COMP) 26.19
Coinbase Compound (COMP) 26.2
See all 76 prices
2. Choose a Compound lender
Once you have COMP, you'll need to choose a Compound lending platform to lend your tokens. You can find some options here.
Platform Coin Interest rate
YouHodler Compound (COMP) Up to 12% p.a.
Blockchain.com Compound (COMP) Up to 1% p.a.
CEX.io Compound (COMP) Up to 1.5% p.a.
See all 10 lending rates
3. Lend Your Compound
Once you've chosen a platform to lend your Compound, transfer your Compound into your wallet on the lending platform. Once it's deposited, it will start earning interest. Some platforms pay interest daily, while others do so weekly or monthly.
4. Earn Interest
Now all you need to do is sit back while your crypto earns interest. The more you deposit, the more interest you can earn. Ensure your lending platform pays compounding interest to maximise your returns.

Platform	Coin	Cost
Nexo	Compound (COMP)	26.34
PrimeXBT	Compound (COMP)	26.19
YouHodler	Compound (COMP)	26.25
Binance	Compound (COMP)	26.25
BTSE	Compound (COMP)	26.19
Coinbase	Compound (COMP)	26.2

Platform	Coin	Interest rate
YouHodler	Compound (COMP)	Up to 12% p.a.
Blockchain.com	Compound (COMP)	Up to 1% p.a.
CEX.io	Compound (COMP)	Up to 1.5% p.a.

What to Be Aware Of

Lending your crypto can be risky. Ensure 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.