How to Purchase Compound (COMP) using Bitcoin (BTC)

To buy Compound using Bitcoin, first, find a cryptocurrency exchange that supports the COMP/BTC trading pair, such as Nexo, YouHodler, Binance or BTSE. Create an account, verify your identity, and deposit your BTC into your exchange wallet. Locate the COMP/BTC pair on the trading platform and place an order to exchange your Bitcoin for Compound. If the COMP/BTC pair is unavailable, you can first exchange Bitcoin for a stablecoin like Tether (USDT) or a fiat currency, then trade that for Compound. Be mindful of potential exchange fees, which vary by platform and can affect the total cost of your transaction. In Germany, it’s also important to consider the tax implications of your trades, as capital gains tax may apply to your profits from cryptocurrency transactions.