A Step-by-Step-Guide on how to buy Compound Coin (COMP)
Step 1 – Signup to CEX.io In the beginning you'll need to purchase one of the bigger currencies. Exchanges normally accept either Bitcoin or Ethereum in exchange for any other Cryptocurrency. Click below to register and getting your Bitcoin or Ethereum.
Step 2 – Transmit Your Ethereum (ETH) or Bitcoin (BTC) to an Crypto Trader Your Bitcoin (BTC) or Ethereum (ETH) has to be sent over to an Exchange now. All exchanges have a deposit form that is identical. Compound Coin (COMP) is available on Binance, so we will use that as an example. Not sure on how to send Coinbase funds to an Exchange? (Follow this how-to) Make sure you have selected the correct coin you wish to deposit. BTC must be sent to a BTC deposit address, Ethereum to an ETH deposit address, etcetera. In the case you are working with a decentralized exchange, such as Airswap or DDEX could be divergent (Follow our how-to).
Step 3 – Find Compound Coin (COMP) As soon as your deposit has been verified, you will instantly have access to your funds and you can commence invest and trading. To purchase Compound Coin (COMP) on Binance, you will want to go to the ”Exchange” tab and after that click on “Basic”. To locate Compound Coin (COMP), you'll need to put the shortname of the coin (COMP) into the search box, which is highlighted in the image. Be certain of having selected the right pairing, we have marked this too. Click on “COMP/BTC” to continue.
Step 4 – Purchase Compound Coin (COMP) As soon as you have discovered Compound Coin (COMP), you will be given a Chart with Prices (in the Center of the image) and some Order Books (Leftside of the image). And now we are going to make our own Limit Order. The ”Price” field will be automatically filled with the most recent rate Compound Coin (COMP) was sold for. You can change this to your preferred rate. The field with the “Amount” tag is the amount of COMP you wish to purchase. The field with the “Total” tag is the whole price in Bitcoin that you will pay for the whole amount of COMP. If you are satisfied, make a mouse click on “Buy COMP”. Your plan will be filled as soon as a Vender trades their COMP for the price you submitted.
Step 5 – Withdraw Compound Coin (COMP) Unless you are regularly trading, you should never keepyour crypto on an Crypto Trader for an extensive time period. To withdraw your Compound Coin (COMP), hover over the ”Funds” tab and click on “Withdraw”. Compound Coin (COMP) can be safely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Find Compound Coin (COMP) by using the given drop-down box. Put into the amount of Compound Coin (COMP) you'd wish to take off. Take into account the displayed minimus/fees. Also make sure you have entered your right withdraw address. When you are happy, click “Submit”. You may be asked for verfication via phone/email ahead of a take off.