How to Lend Compound (COMP) in the UK

Introduction

Lending Compound can be an excellent option for those who wish to hold COMP while earning a yield. The steps may seem a bit daunting, particularly the first time you undertake them. That's why we've compiled this guide for you.

Step-by-Step Guide

1. 1. Obtain Compound (COMP) Tokens

   To lend Compound, you need to possess it. To obtain Compound, you'll need to purchase it. You can choose from these popular exchanges in the UK.

   Platform	Coin	Price
   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

   View all 76 prices

2. 2. Choose a Compound Lender in the UK

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

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

   View all 10 loan rates

3. 3. Lend Your Compound

   Once you've chosen a platform to lend your Compound, transfer your Compound into your wallet on the lending platform. Once it's deposited, it will start earning AER. Some platforms pay interest daily, while others do so weekly or monthly.

4. 4. Earn AER

   Now all you need to do is sit back while your cryptocurrency earns interest. The more you deposit, the more interest you can earn. Try to ensure your lending platform pays compounding interest to maximise your returns.

What to Be Aware Of

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