How to Buy Compound (COMP)

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).

Binance Signup
Step 2 – Transfer Your Funds to an Crypto Trader

Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is similar. Compound (COMP) is obtainable on Binance, so we will use that as an illustration. Not sure on how to send funds from Coinbase to an Exchange? (Just follow these easy steps)

Make sure you have selected the correct coin you want to deposit.

BTC must be sent to a BTC deposit address, ETH to an Ethereum deposit address, et cetera. If you are dealing with a decentralized exchange, such as Airswap or DDEX could be different (Follow our how-to).

Step 3 – Find Compound (COMP)

Once your deposit has been verified, you'll instantly have access to your finances and you can initiate buying and trading. To purchase Compound (COMP) on Binance, you'll want to go to the tab which is called “Exchange” and then mouse click on “Basic”.

In order to spot Compound (COMP), you will need to insert the cointype (COMP) into the search-box, which is marked in the image. Make sure you have selected the correct grouping, we've marked this too. Click on “COMP/BTC” to continue.

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

Once you have located Compound (COMP), you will be given a Price Chart (in the Center of the picture) and a few Order Books (Leftside of the image). And now we're creating our own Limit Order.

The field with the “Price” tag will be filled with the most up-to-date tariff Compound (COMP) was traded for. This can be changed to your preferred price. The field with the “Amount” tag is the volumen of COMP you like to buy. The ”Total” field is the total price in BTC that you will settle for the complete volumen of COMP.

If you're satisfied, click on “Buy COMP”. Your order will be filled as soon as a Vendor sells their COMP for the price you introduced.

Step 5 – Withdraw Compound (COMP)

Unless you're regularly trading, best advise is not to keep crypto on an Crypto Exchange for an longer time period. In order to withdraw your Compound (COMP), hover over the ”Funds” tab and click on “Withdraw”. Compound (COMP) can be safely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Find Compound (COMP) by using the provided drop-down box. Enter the quantity of Compound (COMP) you would wish to withdraw. Take into account the displayed fees/minimums. Also make sure you have filled your precise withdraw address.

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

Binance Withdraw

Congrats! You have successfully bought and safed Compound (COMP).

That's it!

Take offs from Crypto Exchange can take between 1 – 30 minutes (rely on network usage). As soon as you've proved your take off using Ethplorer.io or Etherscan.io and the (COMP) Compound is stored inside your wallet, you are done.

Some other Guides on How to buy Coins

How to Buy CitiOS
How to Buy Utrum
How to Buy Coins
/* */ Generated by MPG