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 – Send Your Bitcoin or Ethereum to an Cryptocurrency Exchange Your Bitcoin (BTC) or Ethereum (ETH) has to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is identical. Compound (COMP) is obtainable on Binance, so we're going to use that as an sample. Not sure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Follow this how-to) Make sure you've selected the precise coin you wish to deposit. Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, and so forth. If you are using a decentralized exchange, like Airswap or DDEX could be opposed (Follow these easy steps).
Step 3 – Locate Compound (COMP) As soon as your deposit has been affirmed, you'll directly have access to your funds and you can initiate purchasing and trading. To buy Compound (COMP) on Binance, you'll want to go to the tab which is called “Exchange” and then mouse click on “Basic”. To find Compound (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 choosen the correct grouping, we've marked this too. Click on “COMP/BTC” to go on.
Step 4 – Buy Compound (COMP) After you have located Compound (COMP), you will be given a Chart with Prices (in the Center of the picture) and a few Order Books (Leftside of the picture). Next we're going to make our own Limit Order. The ”Price” field will be filled with the most up-to-date price Compound (COMP) was sold for. This can be changed to your favoured price. The ”Amount” field is the amount of COMP you want to buy. The field with the “Total” tag is the total price in Bitcoin that you'll pay for the complete amount of COMP. When you are glad, click on “Buy COMP”. Your order will be filled as soon as a Vender sells their COMP for the price you gave.
Step 5 – Withdraw Compound (COMP) Unless you are regularly trading, best advise is not to keep coins on an Exchange for an extended time frame. In order to take off your Compound (COMP), hover over the ”Funds” tab and mouse click on “Withdraw”. Compound (COMP) can be stored safely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Find Compound (COMP) by using the provided drop-down box. Put into the volumen of Compound (COMP) you'd wish to take off. Take into account the shown minimus/fees. Also make sure you have entered your precise withdraw address. When you are happy, click “Submit”. You may be requested for phone/email verification ahead of a take off.