How to Lend Compound (COMP) in Vietnam

Introduction

Lending Compound is an excellent choice for those looking to hold COMP while earning yield. The process may seem intimidating at first, which is why we've created this guide to help you navigate it.

Comprehensive Guide

1. 1. Acquire Compound (COMP) Tokens

   To lend Compound, you must first own it. To acquire Compound, you will need to buy it. You can select from these well-known exchanges.

   Platform	Coin	Cost
   Nexo	Compound (COMP)	45.97
   YouHodler	Compound (COMP)	45.84
   Binance	Compound (COMP)	45.84
   BTSE	Compound (COMP)	45.82
   Coinbase	Compound (COMP)	45.84
   Kraken	Compound (COMP)	45.71

   View all 75 prices

2. 2. Select a Compound Lender

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

   Platform	Coin	Interest rate
   YouHodler	Compound (COMP)	Earn up to 12% APY
   Blockchain.com	Compound (COMP)	Earn up to 1% APY
   CEX.io	Compound (COMP)	Earn up to 1.5% APY

   View all 10 loan rates

3. 3. Lend Your Compound

   After selecting a platform to lend your Compound, transfer your Compound into your wallet on that platform. Once deposited, it will begin to earn interest. Some platforms pay interest daily, while others do so weekly or monthly.

4. 4. Grow Your Savings

   Now all you need to do is relax while your crypto accumulates interest. The more you deposit, the greater your potential earnings. Ensure that your lending platform offers compounding interest to maximize your returns.

Things to Consider

Lending your cryptocurrency can be risky. Ensure you conduct thorough research before depositing. Only lend what you can afford to lose. Review their lending practices, read user reviews, and understand how they secure your cryptocurrency.