How to Lend Compound (COMP): A Step-by-Step Guide for Canadians

Introduction to Cryptocurrency in Canada

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.

Step-by-Step Guide for Canadians

1. Acquire Compound (COMP) Tokens in Canada
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) 24.94
PrimeXBT Compound (COMP) 24.81
YouHodler Compound (COMP) 24.86
Binance Compound (COMP) 24.86
BTSE Compound (COMP) 24.87
Coinbase Compound (COMP) 24.88
See all 76 prices in Canada
2. Choose a Compound Lender in Canada
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
See all 10 lending rates in Canada
3. Lend Your Compound 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.
4. Earn Interest in Canada
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.

Platform	Coin	Cost
Nexo	Compound (COMP)	24.94
PrimeXBT	Compound (COMP)	24.81
YouHodler	Compound (COMP)	24.86
Binance	Compound (COMP)	24.86
BTSE	Compound (COMP)	24.87
Coinbase	Compound (COMP)	24.88

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

What Canadians Should Be Aware Of

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.