How to Purchase MultiversX (EGLD) using Compound (COMP)

To buy MultiversX using Compound, first, find a cryptocurrency exchange that supports the EGLD/COMP trading pair, such as YouHodler. Create an account, verify your identity, and deposit your COMP into your exchange wallet. Locate the EGLD/COMP pair on the trading platform and place an order to exchange your Compound for MultiversX. If the EGLD/COMP pair is unavailable, you can first exchange Compound for a stablecoin like Tether (USDT) or a fiat currency, then trade that for MultiversX. 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.