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Invest in the COMP savings pool to earn passive income on your COMP deposit. Additionally, the COMP savings pool under OKX Earn is flexible. You can redeem your assets anytime, and your deposit will be available to withdraw within 60 minutes of your request. Use our basic trading bot from the OKX trading window to automatically buy COMP at low prices and trade it higher for profits. Your profits will be based on your set price parameters when you configure the bot. For lending, the pool is overcollateralized, so borrowers must provide collateral above what they need to borrow.
Our website and marketing collateral use reference rates as an indicator only and should not be used for decision making. Content may not always be entirely accurate, complete or current. In addition, the token allows the owner to delegate voting rights to an address, wallet, other user, application or DeFi expert of his choice. Anyone who has min. 1% of the COMP token posted to his address can propose management activities. KuCoin lets you use your existing crypto holdings to buy Compound crypto and other digital assets on our platform.
Can the COMP coin reach $500?
You can analyze the coin against its peers and the financial market as a whole to determine factors that move Compound Governance’s coin price. Additionally, you may evaluate how adding Compound Governance to your portfolios can decrease your overall portfolio volatility. When is the right time to buy or sell Compound Governance Token? Buying financial instruments such as Compound Crypto Coin isn’t very hard. However, what challenging for most investors is doing it at the right time to beat the market.
The platform has seen an increase in the number of users, and collateral levels recently peaked on the platform. COMP tokens are the native utility governance tokens of the Compound protocol and aren’t mineable. COMP tokens are native governance and utility tokens of the Compound lending protocol. Currently, more than 15 cryptocurrencies can be lent or borrowed on the Compound protocol. The token is a “governance token,” meaning users who hold the tokens can use them to vote on important changes to the protocol. Compound should appeal to anyone who wants to earn additional income by lending or borrowing cryptocurrency.
Ready to add COMP to your portfolio?
At the time, decisions on the platform could only be made by the Compound Labs team. As this was not decentralised at all, they then launched the COMP token. The COMP token is a governance token that allows holders of the token, to co-decide on changes on the platform, thus also decentralising governance. Whether you’re an individual or corporate authorised representative, you can instantly trade COMP for any other digital currency within just a few clicks. Take advantage of cryptos’ high volatility and Cointree’s competitive rates.
- This exchange is part of the Binance Group, which ensures a high standard of quality.
- After completing your transaction, your purchased COMP tokens will be reflected in your OKX wallet.
- Just register on any of our platforms, make an initial deposit of 5 USD and convert it to COMP.
- The token is a “governance token,” meaning users who hold the tokens can use them to vote on important changes to the protocol.
- This exchange is best for investors residing in Australia, Canada, Singapore, UK & internationally.
If you have any questions, our team of experts is here to help you. Any data, text or other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results. CoinDesk is an independently managed media company, wholly owned by the Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Because comprar compound governance token uses an overcollateralization model, you can never borrow more than what is collateralized. With industry-leading daily transaction volumes on our platform, we’re the most trusted exchange to buy Compound. Buying Compound on OKX not only helps you trade it with other cryptocurrencies instantly but also helps you earn interest on your Compound tokens through the OKX Earn program. After completing your transaction, your purchased COMP tokens will be reflected in your OKX wallet. To make the most of your investment, you can either trade or stake your COMP tokens to earn interest via our OKX Earn. To stake your COMP tokens, select “Grow” on the OKX homepage and then “Earn.” The following are several other things you can also do with your purchased COMP tokens.
- The services spread on Compound and other cryptocurrency ranges from 0.8% to 1.2% depending on the asset.
- All users interacting with the Compound protocol through lending or borrowing receive COMP tokens as incentives.
- CFDs if you believe the value of the digital asset will increase.
The percent change in trading volume for this asset compared to 1 hour ago. Binance has the lowest transaction fee rate amongst all major trading platforms. Proposals – proposals are executable code that modify the protocol in some manner. In order to create a proposal, a user must have at least 1% of the total COMP supply delegated to their address. There is a total of 10 million COMP in existence, so a user must have at least 100,000 COMP delegated to their address. A COMP holder may also delegate their voting power to someone else.
The COMP cryptocurrency plays the most vital role for the protocol, and it’s essentially the backbone of what makes Compound work. Users can earn COMP tokens by making use of certain DeFi features in the Compound wallet. The Compound platform specializes in certain tokens, and the users of the platform choose Compound specifically for this reason.
As a result, you will be able to add more indicators to the chart and use the built-in technical analysis tools. However, unlike an exchange, the broker platform will not provide you with the same large offer of cryptos to trade. With ZenGo, you can track your investments at a glance with its user-friendly interface that allows you to trade, buy, send, and receive cryptocurrency in a few taps. This way, you don’t have to be in front of a computer monitor or have to go home to exchange cryptos. The ZenGo app is intuitive, enabling you to buy, sell and trade cryptocurrency with simplicity. ZenGo believes that your wallet should be accessible and flexible so that you don’t have to pay hefty transaction fees to trade on the go.
Based on when you think you can get a good COMP price, you should be able to trade COMP to CAD. Compound has become the ninth-largest DeFi protocol based on total value locked , with a value of more than $2.11bn, according to data compiled by DeFi Llama. That puts it ahead of popular apps like SushiSwap and Yearn Finance .
This is done with pools, which means it ensures that no permission is needed, when someone wants to borrow money. This is possible provided users can prove they have sufficient collateral. As a lender, you can lock your COMP tokens, making the assets lendable. Users of Compound can borrow or lend crypto assets on the platform without the need for an intermediary like a bank. Lenders can earn a rate of interest based on how much they deposit.
Ethereum is a decentralized blockchain platform that establishes a secure peer-to-peer network, which, in turn, executes and verifies application code, known as smart contracts. These smart contracts let users transact without a central authority, such as a bank. To supply or lend crypto assets on Compound, users will have to deposit their crypto assets into the Compound protocol and it will be aggregated into a liquidity pool. Once users have made the deposit, they will receive cTokens in return.
Uphold is a commission-free desktop and mobile trading platform that gives you access to, and the opportunity to trade Compound and dozens of other cryptocurrencies. They have been in operation since 2014 and now boast a very credible reputation with more than 1.5 million users worldwide. Buying Compound is just like foreign exchange of traditional currencies like the Canadian Dollar, US Dollar, or Euro. You trade coins that you have – either a cryptocurrency or a dollar – for Compound, which trades as COMP.
The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. https://coinbreakingnews.info/ allow you to speculate on the price of the cryptocurrency without having to own the digital asset. The Compound protocol manages the entire lending and borrowing process in an automated way. A Compound Coin Wallet Address is a digital address that consists of a string of letters and numbers that you’ll need to send and receive COMP. This address, similar to an email address, will be automatically generated once you set up your ZenGo account.
However, if you want to avail additional discount then you can withhold the native currency of the platform. It is assumed by many investors and businessmen that doing business at the right time brings profit. There is always a good time to start a new business or launch a new product or service. Also, there is a good time and a bad time of investing in cryptocurrencies. If you buy Compound at the right time, there are higher chances that you will get a better return on your investment. However, if you buy Compound token at the wrong time you can lose money.
This sent shock waves through the Compound community and left many users with concerns. Many wondered if this would be a concern again in the future, and if it could possibly be devastating for the protocol. Join over a million users buying and selling Compound at Bitvavo and enjoy our low fees and easy to use platform.
Hence, they allow you to trade anytime, anywhere, even from your mobile phone, without paying too much for a transaction. In short, Compound Coin , also commonly known as cToken, is a governance token that provides users added value for their loyalty. Yet, as mentioned above, they can only be redeemed for the crypto that has been used with the protocol. It’s a flexible keyless wallet that is able to trade, buy, and sell multiple cryptocurrencies without leaving the app.
As mentioned above, one valuable aspect of COMP is that its holders can vote on decisions that will affect the future of the software. Interested in Compound , but not sure what it’s all about or where to even begin? This guide is designed to teach you everything you need to know about the project and get you ready to jump into the most user-friendly trading experience available on the market. Prices and percentage changes are for information purposes only and in no way reflect Coinsquare Ltd.’s speculation of market direction. Verifying your identity helps us to properly connect your funds to your account.