How to Buy Compound Crypto?
If you are looking for where to buy Compound coin, we will show you how to buy Compound crypto for another cryptocurrency using the StealthEX exchange platform. StealthEX is a convenient and user-friendly cryptocurrency exchange.
What Is COMP Coin?
Compound cryptocurrency (COMP) is a DeFi protocol built on the Ethereum blockchain that provides access to the cryptocurrency loan market.
The developer of the protocol is Compound Labs from San Francisco. Venture giants Andreessen Horowitz, Coinbase Ventures, Paradigm, and Polychain Capital invested in the startup. The first version of Compound was launched in September 2018. The project’s WhitePaper was published in February 2019. The COMP token was launched in June 2020.
How To Use Compound Crypto?
The token gives the ownership community the ability to vote on key changes to Compound. COMP can also be delegated to others to vote. As a thriving decentralized lending and borrowing center, Compound was already very popular at DeFi before its COMP coin was launched.
The Compound token cannot be earned by traditional mining. All coins are issued exclusively by developers. The total supply is 10,000,000 COMP.
You do not need to create an account to access the Compound crypto market.
Interaction is through one of the user interfaces that support the protocol, such as Huobi Wallet or InstaDapp. Connection to them is made through Web 3.0 wallets.
The Compound coin protocol is a reliable tool for passive income from personal savings. The system is regulated by smart contracts that guarantee a high level of transaction security. Interest rates are derived automatically based on the analysis of the current situation in the digital asset market.
Where To Buy Compound Coin?
Use StealthEX to find out the Compound coin price and exchange this cryptocurrency in minutes. Here you can select from over 350 tokens and make transactions quickly.
How To Buy Compound Crypto?
You can study a detailed article with an exchange guide on our YouTube channel or just go to StealthEX and follow these easy steps. Let’s imagine you want to exchange Ethereum to Compound. To make an exchange, you need to take a few simple steps:
First, you should choose Ethereum in the left drop-down list. Then choose COMP coin in the right list of coins.
After setting the pair it is necessary to enter the amount of ETH you want to exchange.
Here you will see the estimated amount of COMP coin that you will receive after the exchange.
Now when everything is set for the exchange, press the Start Exchange button and you will be taken to the next page.
As the second step, you need to provide the Compound token recipient address. The recipient address must match the cryptocurrency you are going to receive. Remember to double-check the information you enter prior to the exchange as the transaction you make cannot be canceled.
As soon as you have carefully checked all the details, you can press the Next button and you will be redirected to the Confirmation page with the information about the exchange.
Pressing the Next button you will be redirected to the Exchange page.
At first, you will see the address where you need to send your ETH coin to continue the exchange. StealthEX will also provide you with the exchange ID. It will allow you to keep all the information about the swap. It is recommended to save your exchange ID or the link to your exchange.
After sending Ethereum to the shown address, the information on the Exchange page will be renewed automatically. The Exchange page has several statuses that will change during the time of the exchange.
- The first status is Awaiting deposit.
- The following status is Confirming. This means that StealthEX is confirming the transaction you made.
- The next status is Exchanging. During this time the exchange is being made.
- Then the status will be changed to Sending to your wallet. This indicates that there are just a few minutes left until you will receive your COMP coin.
Finally, you will be redirected to the Finish page. This shows that the exchange has been successfully made and you will receive Compound crypto to the address provided. To be sure that COMP token was sent to your wallet you can also use the Output hash shown on this page and check it in the Compound blockchain list of transactions.
From here you can either create a new exchange on StealthEX.io or leave the page and check your Compound wallet to be surprised at how fast you got COMP coin. Usually, the process is quite rapid so you won’t need to wait long.
If you have remaining questions about the StealthEX exchange service you can go to our FAQ section and find all the necessary information there.
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