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
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.
See all 20 pricesPlatform Coin Price Bitpanda Compound (COMP) $41.29 M2 Compound (COMP) $41.07 YouHodler Compound (COMP) $41.1 Uphold Compound (COMP) $50.31 Wirex Compound (COMP) $41.33 Kraken Compound (COMP) $41.08 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.
See all 5 lending ratesPlatform Coin Interest rate YouHodler Compound (COMP) Up to 11% APY OKX Compound (COMP) Up to 1% APY 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. 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.
Latest movements
Compound (COMP) is currently priced at $40.94 with a 24-hour trading volume of $60.37M. In the last 24 hours, Compound has experienced a decrease of -0.29%. The market cap of Compound stands at 353.59M, with $8.68M COMP in circulation. For those looking to buy or trade Compound, reputable platforms like Bitpanda, M2 and YouHodler offer avenues to do so securely and efficiently.
- Market cap
- $353.59M
- 24h Volume
- $60.37M
- Circulating supply
- $8.68M