Where and How to Lend Compound (COMP)

Introduction

Lending Compound can be a great option for those who wish to hold COMP but earn interest. The steps can be a bit intimidating, especially the first time you attempt them. That's why we have compiled this guide for you.

Step-by-Step Guide

1. 1. Acquire Compound (COMP) Tokens

   To lend Compound, you need to have it. To obtain Compound, you’ll need to buy it. You can choose from these popular exchanges.

   Platform	Coin	Price
   Nexo	Compound (COMP)	48.31
   Uphold	Compound (COMP)	48.12
   YouHodler	Compound (COMP)	48.1
   Kraken	Compound (COMP)	48.16
   OKX	Compound (COMP)	48.13
   M2	Compound (COMP)	48.13

   See all 75 prices

2. 2. Select a Compound Lender

   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	Interest rate
   YouHodler	Compound (COMP)	Up to 12% APY
   Kucoin	Compound (COMP)	Up to 0.5% APY
   Blockchain.com	Compound (COMP)	Up to 1% APY

   See all 10 lending rates

3. 3. Lend Your Compound

   After you have selected a platform for lending your Compound, transfer your Compound into your wallet on the lending platform. Once it is deposited, it will begin earning interest. Some platforms pay interest on a daily basis, while others do so weekly or monthly.

4. 4. Earn Interest

   Now all you have to do is relax while your crypto earns interest. The more you deposit, the more interest you can earn. Make sure your lending platform pays compounding interest to maximise your returns.

What to Keep in Mind

Lending your crypto can be risky. Ensure that you do your research before depositing your crypto. Don’t lend more than you’re prepared to lose. Verify their lending practices, reviews, and how they secure your cryptocurrency.