How to Lend Compound (COMP)

Introduction

Lending Compound can be an excellent choice for those looking to hold COMP while earning APY. The process may seem a bit overwhelming, particularly for first-time users. That's why we've created this guide to assist you.

Step-by-Step Anleitung

1. 1. Acquire Compound (COMP) Tokens

   To lend Compound, you first need to possess it. To acquire Compound, you'll have to buy it. You can select from these well-known exchanges.

   Plattform	Kryptowährung	Price
   Nexo	Compound (COMP)	24,94 APY
   PrimeXBT	Compound (COMP)	24,81 APY
   YouHodler	Compound (COMP)	24,86 APY
   Binance	Compound (COMP)	24,86 APY
   BTSE	Compound (COMP)	24,87 APY
   Coinbase	Compound (COMP)	24,88 APY

   View all 76 prices

2. 2. Select a Compound provider

   Once you have COMP, you'll need to select a Compound lending platform to lend your tokens. You can explore some options here.

   Plattform	Kryptowährung	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 lending APY rates

3. 3. Lend Your Compound in Germany

   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 accrue APY. Some platforms pay interest daily, while others do so weekly or monthly.

4. 4. Earn Interest

   Now all you need to do is sit back while your cryptocurrency earns interest. The more you deposit, the more interest you can earn. Make sure your lending platform offers compounding interest to maximize your returns.

What to Consider

Lending your crypto can be risky. Ensure you conduct thorough research before depositing your crypto. Don't lend more than you're prepared to lose. Review their lending practices, customer feedback, and the measures they take to secure your cryptocurrency.