How to Buy Compound Coin (COMP)

A Step-by-Step-Guide on how to buy Compound Coin (COMP)

Step 1 – Join CEX.io

In the beginning you'll need to purchase one of the top-tier currencies. Exchanges commonly accept either Ethereum or Bitcoin in exchange for any other Cryptocurrency. Click below to register and to get ETH (Ethereum) or BTC (Bitcoin).

Binance Signup
Step 2 – Transfer Your Ethereum (ETH) or Bitcoin (BTC) to an Cryptocurrency Exchange

Your BTC (Bitcoin) or ETH (Ethereum) will need to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is similar. Compound Coin (COMP) is obtainable on Binance, so we're going to use that as an illustration. Not sure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Just follow this guide)

Make sure you have chosen the precise coin you would like to deposit.

BTC must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, et cetera. In the case you're dealing with a decentralized exchange, like Airswap or DDEX could be divergent (Just follow our how-to).

Step 3 – Locate Compound Coin (COMP)

As soon as your deposit has been affirmed, you'll directly have access to your finances and you can begin purchasing and trading. To purchase Compound Coin (COMP) on Binance, you'll want to go to the ”Exchange” tab and then click on “Basic”.

In order to find Compound Coin (COMP), you'll need to put the shortname of the coin (COMP) into the search box, which is marked in the image. Be certain of having selected the right grouping, we have marked this also. Click on “COMP/BTC” to go on.

Binance Hot To Buy Compound Coin (COMP)
Binance How to Buy (COMP) Compound Coin
Step 4 – Purchase (COMP) Compound Coin

Once you've found (COMP) Compound Coin, you will be presented with a Price Chart (in the Center of the picture) and some Order Books (on the Left of the picture). And now we are going to create our own Limit Order.

The field with the “Price” tag will be filled with the most up-to-date price (COMP) Compound Coin was sold for. You can change this to your favoured price. The ”Amount” field is the volumen of COMP you like to buy. The field with the “Total” tag is the total price in Bitcoin that you will settle for the whole volumen of COMP.

If you're glad, click on “Buy COMP”. Your plan will be filled when a Seller sells their COMP for the price you gave.

Step 5 – Withdraw (COMP) Compound Coin

Unless you're trading, best advise is not to keep coins on an Crypto Trader for an extensive time frame. To take off your (COMP) Compound Coin, go to the ”Funds” tab and mouse click on “Withdraw”. (COMP) Compound Coin can be stored securely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Find (COMP) Compound Coin by using the given drop-down box. Enter the amount of (COMP) Compound Coin you would wish to take off. Take into account the presented minimus/fees. Also make sure you have entered your precise withdraw address.

When you're happy, make a mouse click on “Submit”. You may be asked for email/phone verification ahead of a take off.

Binance Withdraw

Congrats! You've successfully purchased and safed (COMP) Compound Coin.

That's it!

Take offs from Crypto Trader can take anywhere from 1 – 30 minutes (rely on usage of the network). Once you have confirmed your take off using Etherscan.io or Ethplorer.io and the (COMP) Compound Coin is safe inside your wallet, you're done.