A Step-by-Step-Guide on how to buy Compound (COMP)
Step 1 – Signup to Coinbase and get 10$ for free You'll first need to purchase units of the bigger coins. Exchanges commonly accept either Bitcoin or Ethereum in exchange for alternative Coins. Follow the Link below to register and to get your first 10 Dollar.
Step 2 – Transmit Your Bitcoin or Ethereum to an Exchange Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Exchange now. Every exchange has a deposit form that is identical. Compound (COMP) is obtainable on Binance, so we will use that as an sample. Unsure on how to send Coinbase funds to an Exchange? (Just follow this how-to) Make sure you have chosen the exact coin you want to deposit. Bitcoin must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, and so on. If you're working with a decentralized exchange, like Airswap or DDEX could be divergent (Just follow our guide).
Step 3 – Locate Compound (COMP) As soon as your deposit has been confirmed, you will directly have access to your assets and you can begin purchasing and trading. To purchase Compound (COMP) on Binance, you will want to hover over the tab which is called “Exchange” and mouse click on “Basic”. In order to discover Compound (COMP), you will need to put the short name of the asset (COMP) into the search box, which is highlighted in the image. Make sure you have selected the correct pairing, we've highlighted this also. Click on “COMP/BTC” to advance.
Step 4 – Acquisition of (COMP) Compound Once you have found (COMP) Compound, you will be presented with a Chart with Prices (in the Center of the picture) and a few Order Books (Leftside of the picture). And now we are making our Limit Order. The field with the “Price” tag will be automatically filled with the recent valuation (COMP) Compound was sold for. You can change this to your desired rate. The ”Amount” field is the amount of COMP you want to buy. The ”Total” field is the total price in Bitcoin that you will pay for the complete amount of COMP. When you are satisfied, make a mouse click on “Buy COMP”. Your plan will be filled when a Vender sells their COMP for the price you submitted.
Step 5 – Withdraw Compound (COMP) Unless you are regularly trading, you should never keepyour coins on an Exchange for an extensive time period. To withdraw your Compound (COMP), go to the tab called “Funds” and mouse click on “Withdraw”. Compound (COMP) can be stored safely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Find Compound (COMP) by using the given drop-down box. Put into the amount of Compound (COMP) you'd like to withdraw. Don't forget the shown fees/minimums. Also make sure you have entered your right withdraw address. When you are satisfied, click “Submit”. You could be requested for email/phone verification before a withdrawal.