A Step-by-Step-Guide on how to buy Compound (COMP)
Step 1 – Signup to Kraken You will first need to purchase one of the bigger currencies. Exchanges commonly accept either Bitcoin or Ethereum in exchange for Altcoins. Click the button below to register and receive ETH (Ethereum) or BTC (Bitcoin).
Step 2 – Transfer Your Bitcoin (BTC) or Ethereum (ETH) to an Exchange Your Bitcoin or Ethereum will need to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is identical. Compound (COMP) is obtainable on Binance, so we will use that as an sample. Not sure on how to send Coinbase funds to an Exchange? (Follow this how-to) Make sure you've chosen the precise coin you want to deposit. BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, etc. In the case you're working with a decentralized exchange, such as Airswap or DDEX could be opposed (Follow our how-to).
Step 3 – Find Compound (COMP) Once your deposit has been affirmed, you will now have access to your assets and you can commence buying and trading. To invest in Compound (COMP) on Binance, you will want to hover over the ”Exchange” tab and then mouse click on “Basic”. In order to spot Compound (COMP), you'll need to insert the shortname of the coin (COMP) into the search-box, which is highlighted in the graphic. Make sure you have choosen the correct pairing, we've marked this too. Click on “COMP/BTC” to continue.
Step 4 – Purchase Compound (COMP) After you have discovered Compound (COMP), you'll be presented with a Chart with Prices (in the Center of the picture) and some Order Books (Leftside of the image). And now we are making our own Limit Order. The field with the “Price” tag will be filled automatically with the most latest price Compound (COMP) was traded for. You can change this to your preferred price. The field with the “Amount” tag is the amount of COMP you like to buy. The field with the “Total” tag is the whole price in BTC that you will settle for the whole amount of COMP. If you are satisfied, click on “Buy COMP”. Your order will be filled as soon as a Vender sells their COMP for the price you submitted.
Step 5 – Withdraw Compound (COMP) Unless you're frequently trading, never keep your coins on an Crypto Trader for an longer period of time. To withdraw your Compound (COMP), hover over the ”Funds” tab and mouse click on “Withdraw”. Compound (COMP) can be safely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Locate Compound (COMP) by using the given drop-down box. Enter the volumen of Compound (COMP) you'd wish to take off. Don't forget the displayed minimus/fees. Also make sure you have entered your precise withdraw address. If you're satisfied, click on “Submit”. You may be asked for phone/email verification ahead of a take off.