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What is COMP?

Compound is an Ethereum-based decentralized finance protocol that enables the lending, borrowing and farming of cryptocurrencies.

When users deposit a particular token in the Compound pool, they receive an equivalent amount in cTokens in return. The value of these cTokens increases over time through adjusting exchange rates, and you can redeem them for the underlying token at market rates. Smart contracts algorithmically calculate the interest rates of the cToken pool depositors and borrowers can transact in.

For lending, the pool is overcollateralized, so borrowers must provide collateral above what they need to borrow.

The platform’s native token, COMP, incentivizes participation in the Compound protocol through token rewards and governance. COMP token holders can propose and vote on changes to the protocol, including adding other cryptocurrency pools, adjusting collateralization, or token distribution.

Why buy COMP with OKX?

Buy/Sell COMP in a few steps — Simple
OKX makes it easy to buy Cryptocurrency with a user-friendly interface

What can I do after I buy COMP?

With over 20 million users, OKX is the go-to exchange for crypto traders looking to invest in COMP tokens. OKX has COMP/BTC, COMP/USDC, and COMP/USDT trading pairs that enable seamless trading between assets.

If you do not have BTC, USDT, or USDC, you can use local payment methods, such as bank transfers and credit cards. Enter the appropriate amount of COMP you wish to purchase and select a method from the available payment methods to proceed with the transaction.

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.

Use COMP as a store of value

COMP is one of the leading DeFi protocols with over $6 billion in total value locked. You can HODL COMP if you believe in the project's potential and benefit from its potential future price appreciation.

Make short-term profits on COMP trades

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.

Earn interest on your COMP deposit

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.

Practice demo trading

Switch to OKX demo trading mode to practice trades with virtual COMP tokens and test your trading strategies before executing them under real market conditions.

How to buy Cryptocurrency and store it safely?

Guide on how to buy Compound (COMP)

Buy COMP with your credit or debit card

At OKX, you can easily purchase USDT or BTC with your local fiat currency using VISA, MasterCard, ApplePay, bank transfer, etc., depending on your selected fiat currency. Next, swap your purchased asset for COMP using our high-liquidity spot trading pairs.

Purchase COMP against BTC or USDT

To buy COMP with BTC or USDT, tap on the "Trade" menu on the top and select "Basic Trading." Then, on the trading page, select the COMP/BTC, COMP/USDT, or COMP/USDC trading pair and input the relevant information to purchase COMP at the spot market price.

Trade COMP with BTC or USDT at your set price

Our limit order option enables you to buy COMP at your predetermined price. Once on the OKX trading terminal, select your preferred COMP trading pair, and input the relevant data before selecting "Buy COMP" to place your limit order trade. Your COMP trade will be executed only when your specified price is met.

Convert your crypto assets into COMP at no extra charges

If you want to trade some of your existing crypto holdings into COMP at no extra fees, OKX Convert is your go-to place. OKX Convert can instantly convert over 100 major crypto assets into COMP without any spreads or fees.

FAQs

How do I buy Compound?
You can buy Compound through our spot trading platform. Our highly liquid markets enable us to support Compound trading pairs with USDT, USDC, and BTC. If you don't own crypto, you can use bank transfer, credit or debit cards, and other payment methods through the Buy/Sell section on this page.
Why should I buy Compound on OKX?
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.
Can I buy Compound with a credit card?
Yes. OKX supports major credit card providers like Visa, Mastercard, or ApplePay. First, select your preferred fiat currency, enter the amount of COMP you wish to purchase and choose the debit/credit card option as the payment method to proceed with the transaction.
How do I get Compound with ETH or BTC?
We only support the COMP/BTC trading pair in our markets. If you own BTC, you can deposit it into your OKX account and use the spot trading platform to trade it for Compound. If you want to trade your COMP tokens with ETH, you can convert ETH to USDT and then proceed with your trade using the COMP/USDT trading pair.
Is it safe to buy Compound on OKX?
Yes. We employ multi-layered security to protect your funds and information from cybercriminals. Our security stack includes semi-offline storage, a multi-signature system, emergency backups, 2FA, anti-phishing codes, withdrawal passwords, and more.
What are the most popular cryptocurrencies to invest in today?
Top crypto, based on market capitalization or total circulation value, include Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USD Coin (USDC), and XRP (XRP).
However, like all other crypto, the above are also featured with volatility and risks. You should do your own research (DYOR) and evaluate your risk appetite before investing in any crypto.
What are the top cryptocurrencies I can buy on OKX now?
OKX provides access to hundreds of crypto and trading pairings. Some of the most popular crypto on OKX include BTC, ETH, USDT, DOGE, SOL and OKB. You can visit our brand-new OKX Crypto Calculator. Select a crypto and a fiat currency to check the estimated real-time price.