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 BTC (Bitcoin) or ETH (Ethereum) to an Crypto Exchange

Your ETH (Ethereum) or BTC (Bitcoin) has to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is identical. Compound (COMP) is accessible on Binance, so we're going to use that as an illustration. Unsure on how to send funds from Coinbase to an Exchange? (Just follow this guide)

Make sure you have selected the right coin you would like to deposit.

BTC must be sent to a BTC deposit address, Ethereum to an ETH deposit address, et cetera. In the case you're using a decentralized exchange, like Airswap or DDEX could be unlike (Follow our guide).

Step 3 – Find Compound (COMP)

Once your deposit has been confirmed, you'll directly have access to your funds and you can launch buying and trading. To invest in Compound (COMP) on Binance, you will want to hover over the ”Exchange” tab and after that click on “Basic”.

In order to find Compound (COMP), you'll need to put the shortname of the coin (COMP) into the search box, which is highlighted in the image. Be certain of having selected the proper grouping, we have highlighted this also. Click on “COMP/BTC” to proceed.

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

As soon as you have discovered Compound (COMP), you will be presented with a Chart with Prices (in the Center of the image) and some Order Books (Leftside of the image). Next we're creating our own Limit Order.

The field with the “Price” tag will be filled automatically with the most up-to-date rate Compound (COMP) was sold for. This can be changed to your preferred price. The ”Amount” field is the amount of COMP you like to purchase. The ”Total” field is the total price in Bitcoin that you'll pay for the whole amount of COMP.

When you're satisfied, make a mouse click on “Buy COMP”. Your order will be filled as soon as a Vender trades their COMP for the price you introduced.

Step 5 – Withdraw Compound (COMP)

Unless you're frequently trading, never keep your coins on an Crypto Trader for an longer time frame. 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, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Locate Compound (COMP) by using the provided drop-down box. Drop in the amount of Compound (COMP) you would wish to take off. Don't forget the displayed fees/minimums. Also make sure you have entered your right withdraw address.

When you are glad, click on “Submit”. You could be asked for phone/email verification ahead of a withdrawal.

Binance Withdraw

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

That's it!

Take offs from Exchange can take between 1 – 30 minutes (depending on usage of the network). Once you've confirmed your withdrawal with Etherscan.io or Ethplorer.io and the (COMP) Compound is stored within your wallet, you are all done.

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