A Step-by-Step-Guide on how to buy Compound Coin (COMP)
Step 1 – Join Coinbase and recieve 10$ for free In the beginning you'll need to buy units of the major currencies. Exchanges commonly accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for any other Cryptocurrency. Click below to register and receive your welcome $10.
Step 2 – Send Your Ethereum or Bitcoin to an Exchange Your Bitcoin or Ethereum will need to be sent over to an Exchange now. Every exchange has a deposit form that is alike. Compound Coin (COMP) is accessible on Binance, so we're going to use that as an sample. Not sure on how to send funds from Coinbase to an Exchange? (Just follow this how-to) Make sure you have chosen the precise coin you would like to deposit. BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, et cetera. If you're working with a decentralized exchange, such as Airswap or DDEX could be divergent (Just follow our manual).
Step 3 – Locate Compound Coin (COMP) As soon as your deposit has been approved, you will now have access to your funds and you can initiate purchasing and trading. To buy Compound Coin (COMP) on Binance, you will want to hover over the ”Exchange” tab and then mouse click on “Basic”. To find Compound Coin (COMP), you will need to insert the cointype (COMP) into the search-box, which is highlighted in the picture. Make sure you have choosen the right pairing, we have highlighted this also. Click on “COMP/BTC” to continue.
Step 4 – Buying (COMP) Compound Coin As soon as you have spotted (COMP) Compound Coin, you will be given a Price Chart (in the Center of the image) and some Order Books (on the Left of the image). Next we're going to make our Limit Order. The ”Price” field will be automatically filled with the most up-to-date tariff (COMP) Compound Coin was sold for. You can change this to your desired price. The ”Amount” field is the amount of COMP you like to purchase. The ”Total” field is the total price in Bitcoin that you'll pay for the whole amount of COMP. If you are satisfied, click on “Buy COMP”. Your plan will be filled when a Vendor sells their COMP for the price you submitted.
Step 5 – Withdraw Compound Coin (COMP) Unless you are regularly trading, never keep your coins on an Crypto Exchange for an extended time frame. In order to take off your Compound Coin (COMP), hover over the tab called “Funds” and click on “Withdraw”. Compound Coin (COMP) can be stored securely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Locate Compound Coin (COMP) by using the provided drop-down box. Enter the amount of Compound Coin (COMP) you would like to take off. Don't forget the demonstrated fees/minimums. Also make sure you have entered your correct withdraw address. When you are glad, click on “Submit”. You could be requested for email/phone verification ahead of a take off.