A Step-by-Step-Guide on how to buy Compound (COMP)
Step 1 – Join CEX.io You'll first need to purchase units of the bigger currencies. Exchanges usually accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for any other Cryptocurrency. Click below to register and to get Bitcoin (BTC) or Ethereum (ETH).
Step 2 – Transmit Your ETH (Ethereum) or BTC (Bitcoin) to an Crypto Trader Your Ethereum or Bitcoin will need to be sent over to an Crypto Trader now. All exchanges have a deposit form that is similar. Compound (COMP) is obtainable on Binance, so we're going to use that as an example. Not sure on how to send funds from Coinbase to an Crypto Trader? (Just follow this manual) Make sure you have chosen the precise coin you want to deposit. BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, et cetera. If you are using a decentralized exchange, such as Airswap or DDEX could be divergent (Just follow these easy steps).
Step 3 – Locate Compound (COMP) As soon as your deposit has been confirmed, you'll now have access to your funds and you can initiate invest and trading. To invest in Compound (COMP) on Binance, you'll want to hover over the ”Exchange” tab and after that mouse click on “Basic”. To find Compound (COMP), you'll need to put the short name of the asset (COMP) into the search box, which is marked in the picture. Be certain of having choosen the proper pairing, we have marked this too. Click on “COMP/BTC” to progress.
Step 4 – Purchase Compound (COMP) After you've found Compound (COMP), you will be given a Price Chart (in the Center of the image) and a few Order Books (on the Left of the image). Next we are creating our Limit Order. The ”Price” field will be filled with the most up-to-date tariff Compound (COMP) was traded for. You can change this to your favoured price. The ”Amount” field is the volumen of COMP you wish to purchase. The ”Total” field is the whole price in BTC that you'll pay for the complete volumen of COMP. If you are happy, make a mouse click on “Buy COMP”. Your order will be filled when a Seller sells their COMP for the price you offered.
Step 5 – Withdraw (COMP) Compound Unless you're frequently trading, you should never keepyour crypto on an Crypto Trader for an extensive time frame. In order to take off your (COMP) Compound, go to the ”Funds” tab and click on “Withdraw”. (COMP) Compound can be stored securely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Locate (COMP) Compound by using the given drop-down box. Put into the amount of (COMP) Compound you'd like to take off. Take into account the demonstrated minimus/fees. Also make sure you have filled your precise withdraw address. When you're glad, click “Submit”. You could be requested for phone/email verification ahead of a take off.