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Buy Compound Coin

Interested in learning how to buy Compound cryptocurrency but not sure where to begin? This guide simplifies the process, helping you find the safest way to buy COMP in 2024.

This guide will explain you everything you need to know about Compound (COMP) crypto, which is one of the best DeFi coins today. We discuss reasons to invest in the top altcoin, examine its past price action, and look at its projected future price performance.

We will also provide you with a detailed step-by-step guide to buying your first COMP token on one of the best crypto exchanges.

How to Buy Compound (COMP) – 4 Simple Steps

Here is a quick guide to buying Compound coins today via a regulated crypto trading platform. The exchange is beginner friendly and the crypto buying process is straightforward. Further, you can start buying cryptos with only $10 and the fees are fixed 1% the trade volume.

  • Step 1: Open an account with a crypto exchange – Open the official eToro.US website and hit the “Join Now” icon to create a free trader account. Complete the registration form that pops up and verify your identity.
  • Step 2: Deposit funds – Deposit at least $10 into this account. The brokerage supports all the popular payment methods. These include cards, eWallets like PayPal, and bank deposit.
  • Step 3: Search for Compound Coin – eToro will provide you with a list of all supported cryptos. Find Compound Coin here.
  • Step 4: Buy Compound – Hit the “BUY” icon against Compound Coins to open a buy order.

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

We will be walking you through this crypto buying process in much detail further below. We will also tell you what Compound Coin is and how it works. First, though, we need to learn where to buy Compound crypto right now.

Where to Buy Compound – Best COMP Exchanges Reviewed

When vetting the best crypto exchanges to buy Compound, we considered a number of factors. We checked their safety and cost of trading. We also checked their liquidity and accessibility, reputation, available funding methods, user friendliness, and customer support. Eventually we settled on the following as the four best crypto exchanges for beginners looking to invest in COMP.

1. eToro – Overall Best Crypto Exchange to Buy Compound

Four key factors helped eToro top our list of the best places to buy Compound Coins. First is its commitment to the security of client funds and data. First, the platform doesn’t share sensitive client information with third parties. Additionally, it provides users with free digital wallets – a web wallet and a mobile wallet app, eToro Money. It also asks users to enable 2FA on their accounts.

Buy Compound on eToro

Second is affordability and transparency. eToro is exceedingly transparent about the cost of trading on the platform. To start buying COMP here, you will need at least $10. Additionally, the trading fees are fixed at 1% of the trade volume. The exchange is also open about all the non-trading fees charged to your account. These include the 0.5% crypto transfer fees, $30 withdrawal fees, and inactivity fees.

Thirdly, eToro is deeply liquid and processes transactions fast. These two traits have helped make it one of the best crypto exchanges for active traders. The platform complements these by exposing the traders to 75+ customizable charts and advanced trading tools. It is also a multi-platform exchange. It operates as a web trader and one of the best mobile trading apps.

Buy Chiliz on eToro

Lastly, eToro exposes you to passive investing tools. The most popular are crypto staking and copy trading. When cop trading, newbies earn when they copy the trade settings of successful traders. Pro traders, on the other hand, receive a commission from eToro.

Pros:
  • eToro provides users with a demo account for practice trading
  • The exchange insures client deposits with FDIC – up to $250,000
  • It is a multi-asset platform allowing for portfolio diversification
  • Social investing helps you interact and learn from other crypto investors
Cons:
  • Crypto services like staking are not available to US residents

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

2. KuCoin – The Best Crypto Exchange for Low Fees and Passive Investing

Of KuCoin’s many key features, low fees and support for passive investing stand out the most. Here, you will interact with passive income-generating programs such as staking, dual investing, shark fin, savings, and crypto lending. It also has a launch pool for new cryptos. This gives you an opportunity to buy the next 100x crypto before it explodes.

Buy Compound on Kuckoin

KuCoin maintains a completive and volume-based crypto trading fees. When buying COMP tokens here, the fee levied on this transaction will range between 0.15 and -0.05%. You will also enjoy a 20% fee discount if you pay with KCS tokens. You will also note that KuCoin doesn’t charge a deposit processing fee.

In addition to these two, KuCoin presents you with multiple ways of buying cryptos on their exchange. You can buy cryptos instantly with cards and account balances. You can also buy crypto via third-party platforms like Moonpay and Simplex. And if you are looking for fee-free transactions, use the KuCoin peer-to-peer trading platform.

You also have the choice of investing in spot crypto or trading crypto derivatives on KuCoin. The derivatives may be margin-traded with leverages of up to 125x. In addition to crypto coins, you can also buy NFTs on KuCoin. Not forgetting that in addition to Compound Coin, KuCoin exposes you to 700+ other digital assets.

Pros:
  • KuCoin has a highly responsive and multi-lingual support team
  • Safe exchange and gives users free digital wallets
  • Automate your trades with trading bots
  • Great educational resource for newbie investors
Cons:
  • KuCoin’s feature-rich trading platform may overwhelm newbies

3. Coinbase – The Best Place to Buy Compound Crypto for Beginners

Coinbase is also one of the best crypto exchange for beginners to buy Compound or any other popular coins. This is made possible by the fact that it has a quick and straightforward registration process. It also has an easy-to-use trading interface. Coinbase even has the on-click buy feature that lets you buy cryptos instantly with an account balance. Not forgetting the learn-to-buy feature. This rewards you with free cryptos every time you learn something about digital assets.

Coinbase Crypto Exchange

We must also mention that Coinbase also integrates tools and resources that draw in expert traders. These include highly advanced trading tools and technical indicators. It has even come up with a crypto trading mobile app – the Coinbase Pro – dedicated to expert traders. The app integrates more advanced tools, more trading pairs, and charges more competitive trading fees.

Coinbase also makes it here because it is a deeply liquid crypto exchange, supporting 100+ digital assets. Additionally, it is a highly reputable exchange. It is regulated by the SEC in the US and tier-1 agencies like FCA in the UK. It was also the first crypto exchange in the world to go public when it was listed with NASDAQ.

Other factors making Coinbase the best place to Compound Coin include its responsive customer support. These are available over the phone and online. We also appreciated the safety measures Coinbase has put around user data and private keys. Lastly, we like that you only need $2 to start buying COMP tokens on Coinbase.

Pros:
  • Coinbase holds 98% of client funds offline and insures the remaining 2%
  • The platform exposes you to bots for automated trading
  • It is the second most liquid exchange in the world
  • Supports passive investing via staking
Cons:
  • Coinbase mobile wallets have suffered multiple security breaches in the past

4. Kraken – Best Crypto Exchange for Deep Liquidity and Safety

Established in 2011, Kraken is the oldest place to buy Compound Coins today. It is also one of the most reputable exchanges, appreciated for its customer support and reliability. But we feature it here primarily because of its safety. Despite having been around for well over a decade, Kraken has never been hacked. It has never lost client funds, which makes the safest crypto trading platform in the US today.

Kraken Crypto Trading Platform

It also makes it here because of its appeal to beginner, expert, and institutional investors. Beginner traders are treated to the buy crypto instantly feature and deep educational resources. Kraken also boasts of deep liquidity, fast transaction processing, and competitive fees. These make it one of the best crypto exchanges for pro traders. It has even created the Kraken PRO app to cater to this class of investors.

In addition to the beginner-friendly web trader and Kraken PRO app, the exchange also operates Kraken Dark Pool. This is an OTC platform that caters to high-rollers and institutional investors. You can buy cryptos pseudonymously on this platform. The trading fees on the platform are highly competitive.

Several other factors help make Kraken the best place to buy Compound Coins. These include its competitive volume-based fee structure. For spot traders, the cost of trading ranges between 0% and 0.4%. It also has a highly responsive support team available over the phone and online.

Pros:
  • You can buy NFTs on the Kraken exchange
  • Stake and earn up to 18% APR for some cryptos on Kraken
  • Kraken recently launched a safe digital wallet app for iPhone and Android devices
  • Margin trade crypto spot and derivatives like futures on Kraken
Cons:
  • Charges high fees when you buy cryptos instantly with cards

What is a Compound (COMPCOMP)?

Compound Coin is DeFi protocol hosted on the Ethereum network. It was created in 2018 by Robert Leshner and Geoffrey Hayes and it allows users to earn passively. Compound facilitates crypto savings and borrowing. It lets individuals contribute ETH and ERC-20 supported tokens. These tokens are lent out to other individuals at an interest. The interest income is then shared among liquidity providers.

What is Compound

Several factors help the Compound protocol stand out. First, it lets you earn passively when you add liquidity to crypto lending pools. Secondly, all its operations are fully automated and handled by smart contracts. Thirdly, you can use provided liquidity to take a collateralized loan with a 75% loan-to-value ratio.

Today, Compound is one of the most popular and most valuable DeFi projects. According to DappRadar, for example, it is a top 10 DeFi by total value locked – exceeding $2 Billion. It also has solid fundamentals – starting with a decent total circulating supply of 10 million COMP tokens. Not forgetting that the coin and protocol are hugely popular with passive and long term investors.

Compound Coin (COMP) Price

At the time of writing, the COMP token is trading more than 93% below the all-time high it set in May 2021. It also has a negative overall ROI as it currently trades close to 40% below its introductory price. We attribute such dismal price performance to a number of factors. The most obvious is the extended 2022/2023 bear market. The value loss could also be attributed to a slowed-down DeFi market.

However, it is a series of hacking exploits and bugs that dealt a death blow to Compound. It started in October 2021 when it was reported that hackers had drained more than $22 Million of a Compound contract. A post mortem analysis of this exploit, however, indicates that the losses exceeded $160 Million. Then came the hacking of Compound’s X account in December 2023.

Compound Price Chart

Thee hacks have damaged investor confidence in the DeFi protocol. They can be directly attributed to its eroding popularity, declining TVL, and a dismal price performance. There, however, is still hope for COMP token as its price rallied by more than 80% over the last 12 months. COMP’s value also appreciated by close to 200% in the first three months of 2024.

Compound Coin (COMP) Price Prediction

The current value dip isn’t Compound Coin’s first. After rallying past 350% immediately after launch in 2020, COMP dipped below $100 five months later. This has optimists convinced that all is not lost for one of the most innovative DeFi coins out there. They, nevertheless, understand that recapturing its 2021 highs will be an uphill task.

Overall, the majority of analysts and algorithmic forecasters are confident that Compound will recover. But no one believes it will grow by the 1500% needed to recapture the May 2021 highs. Here, we look at what different forecasters believe COMP will be worth at the end of the year and in 2025.

  • COMP price prediction 2024: The majority of analysts and forecasters are confident that COMP will rally by between 70% and 250% before year-end. Analysts at Crypto2Community, for example, expect COMP to reach $100. At DigitalCoinForecast, they expect it to reach $140.
  • COMP price prediction 2025: By the end of this bull cycle different analysts and forecasters expect COMP to have rallied by between 250% and 500%. At Crypto2Community the expect COMP to reach $110 before December 2025. AMBCryto analysts are more optimistic and expect it to rally past $300.

Read More: Compound Crypto Price Prediction 2024 – 2040

Is Compound Coin (COMP) a Good Investment?

Yes, while Compound Coin has been performing dismally, we are still confident it is worth buying. In this section, we go over reasons why we believe COMP to be a valuable addition to your crypto portfolio.

  • Passive income generator: COMP is worth buying because it is a passive income generator. You get to earn doubly when you invest in Compound Coins. First, you earn when COMP gains value. You also earn interest when you contribute liquidity to these Compound DeFi pools.
  • Grossly undervalued: You would also want to buy COMP because it is grossly undervalued – trading more than 90% below its all-time high. This sets you up for incredible gains when COMP eventually recovers.
  • Room for future growth: At the time of writing COMP’s market cap sits slightly above $500 Million. It also has a comparative low token supply of 10 million COMP. These and the fact that it is grossly undervalued say that Compound Coin has more than enough room for future growth.
  • Invest anonymously: Compound Coin, like all other DeFi projects makes it possible for you to invest and earn pseudonymously.
  • Compound is an autonomous project: Compound is an autonomous crypto project. This implies that you can vote and propose developments and they don’t need approval from Compound DeFi developers.
  • It has real-world use cases: You stand to earn higher interest on Compound DeFi than on main street banks. It is also safer and costs less to transfer COMP tokens that cash around. The same cannot be said of cash.

Ways of Buying Compound Coin (COMP) Today

There are different ways of buying cryptos like Compound Coin. Most crypto exchanges will expose you to more than one way of buying cryptos. Below, we discuss the three top ways of buying of buying Compound Coins on the best crypto trading platforms.

Buy Compound Coin with PayPal and eWallets

You cannot buy Compound Coins directly on the PayPal website. You have to make a deposit into an exchange that supports PayPal deposits. Some will even let you buy COMP instantly with PayPal. Alternatively, use the peer-to-peer trading platforms integrated on top exchanges and buy cryptos fee-free.

There are two benefits and two downside of buying cryptos with PayPal. The upside is that PayPal is fast in transmitting the deposit to the exchange. It also charges competitively low transaction fees. On the other hand, not all crypto exchanges support PayPal and eWallet deposits. Secondly, PayPal maintains relatively low daily transaction limits.

Buy Compound Coin with Credit Cards and Debit Cards

Cards are one of the most accessible payment methods. This explains why virtually all the popular crypto exchanges let you buy coins with cards. As is the case PayPal and eWallets., there are pros and cons of buying cryptos with cards. The upside is that card deposits are processed quickly. On the flipside, card issuers charge high transaction fees while maintaining comparatively low daily transaction limits.

Buy Compound Coins with a Bank Transfer

The biggest advantage of buying cryptos with bank deposits is its accessibility and acceptability. For example, all the crypto trading platforms we have discussed here accept bank deposits. Some, like eToro, don’t even have an upper maximum deposit limits. Moreover, they don’t charge a deposit processing fee.

However, you will have to contend with longer wait times – up to 8 business days – when making bank deposits. Additionally, banks charge exorbitant transaction processing fees. Not forgetting that exchanges have higher minimum deposit limits for bank transfers – such as $500 at eToro.

How to Buy Compound – Details Tutorial

Still, wondering what’s the safest and best way to buy Compound? Read on to find out how to buy Compound on eToro in less than five minutes. In this section, we walk through the process of buying your first CHZ token.

Step 1: Open a Free Crypto Account on eToro

Open an eToro Account

Start by opening the official eToro.com website or download the eToro mobile trading app. Hit the “Join Now” icon on either platform. A registration form will pop up asking for basic personal details. Complete this form, which also asks about your trading experience and income sources. You will also have to come up with a unique username and strong password for this account.

Step 2: Verify your Identity

The trader registration process on eToro is not complete until verified your identity. Achieve this by sending a clear photo of your government-issued identification document. This may be your national ID, passport, or driver’s license.

Step 3: Deposit Funds

Deposit funds on eToro Exchange

Log in to eToro and hit the “Deposit Funds” icon on your user dashboard. A funding tab will pop up indicating all the payment options available to you – based on your country of residence. Choose one and follow the prompts to deposit at least $10.

Step 4: Search for Compound

After the deposit balance is reflected in your account, hit the “Discover” icon on your user dashboard. A window showing all the financial instruments available on eToro will pop up.Β  Choose cryptos to bring up a list of all digital assets supported on eToro, and proceed to find Compound Coin here.

Step 5: Buy Compound

Buy Compound on eToro

Hit the “BUY” option against Compound Coin to bring the trading tab. Use this tab to customize the trade by indicating how many Compound Coins you intend to buy. Hit the “Open Trade” button to execute this investment.

Note: The Compound Coins you just purchased will be deposited into the exchange provided web wallet. To transfer these coins to another exchange or wallet or, you first need to set up the eToro Money wallet app. Install the app, link the trading app to wallet and move funds. You will be charged a 0.5% crypto transfer fee.

How to Sell Compound Coin on eToro

The process of selling cryptos like COMP tokens on eToro is also quick and straightforward. Here is the step-by-step guide for selling Compound Coins on eToro:

  • Step 1: Log back into the eToro trading account.
  • Step 2: Hit the “Portfolio” icon on your user dashboard to reveal all your open crypto trades.
  • Step 3: Find “Compound Coins” and choose the “Close” trade option.
  • Step 4: Indicate whether you want to sell a few coins or the entire position and hit “close” to execute.

Note: The cash equivalent of the Compound Coins you just sold will be immediately deposited into your account. You may use them to invest in some of the best altcoins to buy right now or withdraw the funds.

Bottom Line: Where to Buy Compound Crypto

There is no shortage of legit crypto exchanges where you can buy Compound Coins. Hereinabove, we have hinted at the factors to consider when vetting the best crypto exchanges. We have also highlighted some of the reasons why COMP has been performing dismally. But even more importantly, we have explained why it is still worth buying.

Do you want to jump straight to investing in Compound Coins? Follow the step-by-step guide to buying COMP tokens on eToro, which we have detailed above.

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eToro Exchange

  • Free Copy Trading of Professional Traders
  • Best Place to Buy Compound
  • Minimum Deposit only $10
  • Best Beginner exchange
  • Open to US & Worldwide
9.9

5 Stars

Cryptoassets are a highly volatile unregulated investment product.

References:

  1. https://www.reuters.com/business/finance/coinbase-says-hackers-stole-cryptocurrency-least-6000-customers-2021-10-01/
  2. https://coinmarketcap.com/currencies/compound/
  3. https://dappradar.com/rankings/defi
  4. https://compound.finance/
  5. https://www.bloomberg.com/news/articles/2023-01-26/declining-interest-in-decentralized-finance-defi-exposes-its-many-problems
  6. https://www.coindesk.com/business/2021/10/03/66m-in-tokens-added-to-recently-hacked-still-vulnerable-compound-contract/
  7. https://neptunemutual.com/blog/analysis-of-a-bug-in-the-compound-protocol/
  8. https://cointelegraph.com/news/compound-finance-x-twitter-account-hacked-posted-scam-link

FAQs

Where to buy Compound Coins right now?

eToro is our top pick for the best place to buy Compound Coins right now. We liked the regulated crypto exchange because it is safe, easy to use, deeply liquid, and mobile-friendly.

There is a high likelihood that Compound will rebound in 2024. It already started showing signs of recovery in the first quarter of the year. Optimists expect a rallying market to be the trigger it needs to escape the negative RPOI zone.

The combination of COMP's solid fundamentals and low market cap allow it to rally 10x and reach $1000. However, to get here it must convince the DeFi world that it is safe crypto project.

Yes, the Compound Coin is a good long term investment because it is grossly undervalued and has a low market cap. It is also massively popular and has the security issue as the only factor weighing it down.

Simply create a trader account with an exchange that lists COMP and deposit funds. Find COMP from the list of supported cryptos and open a buy order.

Yes, you can buy Compound Coins on the Binance exchange.

Yes, you can buy Compound Coins on the Coinbase exchange.