A Step-by-Step-Guide on how to buy Compound (COMP)
Step 1 – Signup to CEX.io You will first need to buy one of the bigger currencies. Exchanges normally accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for any other Cryptocurrency. Follow the Link below to register and to get your Ethereum (ETH) or Bitcoin (BTC).
Step 2 – Transmit Your Bitcoin (BTC) or Ethereum (ETH) to an Crypto Exchange Your BTC (Bitcoin) or ETH (Ethereum) will need to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is alike. Compound (COMP) is obtainable on Binance, so we're going to use that as an sample. Unsure on how to send funds from Coinbase to an Crypto Exchange? (Follow this manual) Make sure you've chosen the precise coin you want to deposit. BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, and so forth. If you are using a decentralized exchange, like Airswap or DDEX could be unlike (Follow our manual).
Step 3 – Locate Compound (COMP) As soon as your deposit has been confirmed, you'll now have access to your funds and you can commence buying and trading. To invest in Compound (COMP) on Binance, you'll want to hover over the tab which is called “Exchange” and after that click on “Basic”. In order to find Compound (COMP), you'll need to put the shortname of the coin (COMP) into the search box, which is highlighted in the image. Make sure you have selected the proper pairing, we have highlighted this also. Click on “COMP/BTC” to continue.
Step 4 – Acquisition of Compound (COMP) After you have spotted Compound (COMP), you'll be presented with a Chart with Prices (in the Center of the image) and a few Order Books (on the Left of the image). For now we're going to create our Limit Order. The ”Price” field will be filled automatically with the latest tariff Compound (COMP) was traded for. This can be changed to your preferred price. The field with the “Amount” tag is the volumen of COMP you want to buy. The field with the “Total” tag is the aggregated price in Bitcoin that you will settle for the whole volumen of COMP. When you're glad, make a mouse click on “Buy COMP”. Your plan will be filled when a Vendor sells their COMP for the price you introduced.
Step 5 – Withdraw Compound (COMP) Unless you're regularly trading, never keep your crypto coins on an Crypto Exchange for an extended time period. In order to take off your Compound (COMP), hover over the tab called “Funds” and click on “Withdraw”. Compound (COMP) can be safely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Find Compound (COMP) by using the given drop-down box. Put into the volumen of Compound (COMP) you'd wish to take off. Don't forget the displayed minimus/fees. Also make sure you have filled your precise withdraw address. When you're satisfied, click “Submit”. You could be requested for phone/email verification ahead of a take off.