Introduction

Staking Compound can be a great option for those who want to hold COMP but earn yield in a safe way while contributing to the network. 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 stake 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)	43.96
   Uphold	Compound (COMP)	43.84
   YouHodler	Compound (COMP)	43.85
   Kraken	Compound (COMP)	43.85
   OKX	Compound (COMP)	43.67
   M2	Compound (COMP)	43.84

   See all 75 prices

2. 2. Choose a Compound Wallet

   Once you have COMP, you'll need to choose a Compound wallet to store your tokens. Here are some good options.

3. 3. Delegate Your COMP

   We recommend using a staking pool when staking COMP. It's simpler and faster to get up-and-running. A staking pool is a group of validators who combine their COMP, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet's interface.

4. 4. Start Validating

   You'll need to wait for your deposit to be confirmed by your wallet. Once it's confirmed, you'll automatically validate transactions on the Compound network. You'll be rewarded with COMP for these validations.

What to be Aware of

There are transaction and staking pool fees you need to consider. There can also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.