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 ETH (Ethereum) or BTC (Bitcoin) to an Cryptocurrency Exchange Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Exchange now. Every exchange has a deposit form that is identical. Compound (COMP) is accessible on Binance, so we will use that as an sample. Not sure on how to send Coinbase funds to an Crypto Trader? (Follow this manual) Make sure you've selected the correct coin you want to deposit. Bitcoin must be sent to a BTC deposit address, Ethereum to an ETH deposit address, and so on. If you are dealing with a decentralized exchange, such as Airswap or DDEX could be unlike (Follow our how-to).
Step 3 – Find Compound (COMP) Once your deposit has been affirmed, you'll instantly have access to your funds and you can initiate invest and trading. To buy Compound (COMP) on Binance, you will want to hover over the tab which is called “Exchange” and then 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 marked in the picture. Be certain of having choosen the proper grouping, we've highlighted this too. Click on “COMP/BTC” to proceed.
Step 4 – Buying Compound (COMP) Once you have located Compound (COMP), you'll be given a Chart with Prices (in the Center of the picture) and a few Order Books (Leftside of the image). For now we're going to make our own Limit Order. The ”Price” field will be filled automatically with the most latest tariff Compound (COMP) was sold for. This can be changed to your preferred rate. The ”Amount” field is the volumen of COMP you want to buy. The ”Total” field is the total price in Bitcoin that you'll settle for the whole amount of COMP. When you're satisfied, 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're regularly trading, never keep your coins on an Exchange for an extended time period. To withdraw your Compound (COMP), go to the ”Funds” tab and mouse click on “Withdraw”. Compound (COMP) can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Locate Compound (COMP) by using the given drop-down box. Enter the quantity of Compound (COMP) you'd wish to take off. Don't forget the demonstrated minimus/fees. Also make sure you have entered your precise withdraw address. When you are happy, click on “Submit”. You may be asked for email/phone verification ahead of a take off.