How to Lend Compound (COMP) in the cryptocurrency market

Introduction

Lending Compound can be an excellent choice for individuals looking to hold COMP while earning an attractive APY. The process may seem a bit overwhelming, particularly for first-time users. To simplify this experience, we have created this comprehensive guide tailored for you.

Step-by-Step Guide

1. 1. Acquire Compound (COMP) Tokens

   To lend Compound, you must first possess it. To acquire Compound, you will need to buy it. You can select from these well-known exchanges that are popular in the Chinese market.

   平台	Coin	Price
   Nexo	Compound (COMP)	45.25 APY
   PrimeXBT	Compound (COMP)	31.6 APY
   YouHodler	Compound (COMP)	31.61 APY
   Binance	Compound (COMP)	31.63 APY
   BTSE	Compound (COMP)	31.63 APY
   Coinbase	Compound (COMP)	31.62 APY

   View all 76 prices

2. 2. Select a Compound lending platform

   Once you have COMP, you'll need to select a Compound lending platform to lend your tokens. You can explore several options available in the market here.

   平台	Coin	APY
   YouHodler	Compound (COMP)	Up to 12% APY
   Blockchain.com	Compound (COMP)	Up to 1% APY
   CEX.io	Compound (COMP)	Up to 1.5% APY

   View all 10 loan interest rates

3. 3. Lend Your Compound for attractive APY returns

   After selecting a platform to lend your Compound, transfer your Compound into your wallet on the lending platform. Once the deposit is completed, it will begin to accrue APY. Some platforms offer daily interest payouts, while others may provide interest on a weekly or monthly basis.

4. 4. Earn APY on Your Assets

   Now all you need to do is relax while your cryptocurrency earns APY. The more you deposit, the higher your potential returns. Ensure that your lending platform offers compounding APY to maximize your earnings.

What to Consider in the Chinese Market

Lending your cryptocurrency can involve significant risks