Where and How to Lend Compound (COMP)

Introduction

Lending Compound can be a great option for those who want to hold COMP but earn yield. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.

Step-by-Step Guide

1. 1. Obtain Compound (COMP) Tokens

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

   Platform	Coin	Price
   Nexo	Compound (COMP)	54.6
   Bitpanda	Compound (COMP)	53.59
   Uphold	Compound (COMP)	53.82
   Klink	Compound (COMP)	54.26
   Kraken	Compound (COMP)	54.14
   OKX	Compound (COMP)	53.81

   See all 30 prices

2. 2. Choose 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

   See all 5 lending rates

3. 3. Lend Your Compound

   Once you’ve chosen a platform to lending your Compound, transfer your Compound into your wallet in the lending platform. Once it’s deposited, it will start earning interest. Some platforms pay interest daily, while others are weekly, or monthly.

4. 4. Earn Interest

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

What to be Aware of

Lending your crypto can be risky. Make sure you do your research before depositing your crypto. Don’t lend more than you’re willing to lose. Check their lending practices, reviews, and how they secure your cryptocurrency.