Earn up to
12% APY in Canada
An in-depth guide on how to lend Compound (COMP) in Canada
We have a wealth of information on lending Compound (COMP) and we are excited to share some of this with you.
We present you with various lending options featuring other cryptocurrencies that may pique your interest.
Compound (COMP) is currently priced at US$1.5 with a 24-hour trading volume of US$41.77M. The market cap of Compound stands at US$639.52M, with 8.87M COMP in circulation. For those looking to buy or trade Compound, YouHodler offers avenues to do so securely and efficiently
Lending Compound can be an excellent choice for Canadians looking to hold COMP while earning a yield. The process may seem a bit overwhelming, particularly for first-time users. That’s why we’ve created this guide specifically for you.
To lend Compound in Canada, you first need to acquire it. To obtain Compound, you'll need to purchase it from one of these popular exchanges available in the Canadian market.
| 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 |
Once you have COMP, you'll need to choose a Compound lending platform to lend your tokens. You can explore some options available in Canada here.
| Platform | Coin | APY |
|---|---|---|
| YouHodler | Compound (COMP) | Up to 12% APY in Canada |
| Blockchain.com | Compound (COMP) | Up to 1% APY in Canada |
| CEX.io | Compound (COMP) | Up to 1.5% APY in Canada |
Once you've selected a platform to lend your Compound, transfer your Compound into your wallet on the lending platform. Once it's deposited, it will begin to earn APY. Some platforms pay interest daily, while others do so weekly or monthly.
Now all you need to do is sit back while your cryptocurrency earns interest. The more you deposit, the more interest you can earn. Be sure to choose a lending platform that offers compounding interest to maximise your returns.
Lending your cryptocurrency can be risky. Ensure you conduct thorough research before depositing your crypto. Only lend what you can afford to lose. Review their lending practices, customer feedback, and the measures they take to secure your cryptocurrency.
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