Earn up to
12% APY
An in-depth guide on how to lend Compound (COMP) in South Africa
We have a wealth of information on lending Compound (COMP), and we're excited to share some of this with you.
We present you with various lending options featuring other cryptocurrencies that may pique your interest.
Compound (COMP) is currently priced at US$1,5 with a 24-hour trading volume of US$41,77M. The market cap of Compound stands at US$639,52M, with 8,87M COMP in circulation. For those looking to buy or trade Compound, YouHodler offers avenues to do so securely and efficiently
Lending Compound can be an excellent choice for those looking to hold COMP while earning a return. The process may seem a bit overwhelming, particularly if it's your first time. That's why we've created this guide to assist you.
To lend Compound, you first need to possess it. To acquire Compound, you'll need to buy it. You can select from these well-known exchanges.
| Platform | Mint | Cost |
|---|---|---|
| Nexo | Compound (COMP) | 26,34 |
| PrimeXBT | Compound (COMP) | 26,19 |
| YouHodler | Compound (COMP) | 26,25 |
| Binance | Compound (COMP) | 26,25 |
| BTSE | Compound (COMP) | 26,19 |
| Coinbase | Compound (COMP) | 26,2 |
Once you have COMP, you'll need to select a Compound lending platform to lend your tokens. You can explore some options here.
| Platform | Mint | 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 |
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 earn APY. Some platforms pay interest daily, while others do so weekly or monthly.
Now all you need to do is sit back while your cryptocurrency earns APY. The more you deposit, the more interest you can earn. Make sure your lending platform pays compounding interest to maximise your returns.
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.
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