A Step-by-Step-Guide on how to buy Compound (COMP)
Step 1 – Signup to Coinbase and get 10$ for free In the beginning you'll need to purchase one of the bigger currencies. Exchanges commonly accept either Bitcoin or Ethereum in exchange for alternative Coins. Follow the Link below for registration and receive your first 10$.
Step 2 – Send Your Ethereum or Bitcoin to an Crypto Trader Your Bitcoin (BTC) or Ethereum (ETH) has to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is alike. Compound (COMP) is available on Binance, so we're going to use that as an illustration. Not sure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Just follow this guide) Make sure you have chosen the correct coin you want to deposit. Bitcoin must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, etc. In the case you are using a decentralized exchange, such as Airswap or DDEX could be divergent (Follow our how-to).
Step 3 – Locate Compound (COMP) As soon as your deposit has been verified, you will instantly have access to your finances and you can initiate purchasing and trading. To purchase Compound (COMP) on Binance, you'll want to hover over the tab which is called “Exchange” and click on “Basic”. To discover Compound (COMP), you will need to put the shortname of the coin (COMP) into the search-box, which is highlighted in the picture. Be certain of having selected the proper grouping, we have marked this too. Click on “COMP/BTC” to continue.
Step 4 – Acquisition of Compound (COMP) As soon as you've discovered Compound (COMP), you will be presented with a Chart with Prices (in the Center of the image) and a few Order Books (on the Left of the image). Next we are going to create our Limit Order. The field with the “Price” tag will be filled with the most latest tariff Compound (COMP) was traded for. You can change this to your desired price. The field with the “Amount” tag is the volumen of COMP you like to purchase. The “Total” field is the whole price in BTC that you'll settle for the whole quantity of COMP. If you're happy, click on “Buy COMP”. Your plan will be filled as soon as a Vendor sells their COMP for the price you submitted.
Step 5 – Withdraw (COMP) Compound Unless you're trading, you should never keepyour coins on an Crypto Trader for an longer time period. To take off your (COMP) Compound, hover over the tab called “Funds” and mouse click on “Withdraw”. (COMP) Compound can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Find Compound (COMP) by using the provided drop-down box. Enter the volumen of Compound (COMP) you'd wish to withdraw. Take into account the presented fees/minimums. Also make sure you have filled your correct withdraw address. If you're glad, click on “Submit”. You could be requested for email/phone verification ahead of a withdrawal.